What is the title of the column that specifies the relevant agreement for each provision related to Jersey Mikes?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
ing before it is used. |
| Provision | Agreement | Summary |
|---|---|---|
| m. Conditions for | Section 19.2 | For a transfer to a third party, Company must approve in writing in its sole and absolute discretion and may condition its consent on certain requirements, including, but not limited to: you must be in full compliance with agreements with Company and affiliates; transferee signs Company's then current form of Franchise Agreement and related agreements and meets Company's criteria for qualifying as a new franchisee; transferee upgrades the Franchised Restaurant to meet Company's then-current System Standards for new Restaurants; transferee releases Company from liability for your representations to transferee; transferee's Principals guaranty transferee's obligations to Company; sign a general release of claims against Company and its affiliates and representatives; transferee successfully completes Company's training program; transferee applies for acceptance as a Jersey Mike's franchisee; transferee demonstrates that it has the skills, qualifications, ethics, moral values and economic resources to operate the Restaurant; if transferee is an existing Jersey Mike's franchisee, transferee must be approve d by Franchisor, in its sole and absolute discretion, for growth; Company receives a $5,000 transfer fee and a $5,000 grand opening advertising fee; you and your affiliates and your respective Principals release Company from all clai ms; you comply with the right of first refusal provisions as provided for in the Franchise Agreement; the total sales price is not so excess ive, in Company's sole determination, that it jeopardizes the continued economic viability and future operations of the Restaurant; and give Company 90 days' written notice of the proposed transfer. If you or an entity and one of your owners want to transfer his or her interest to a third party, you must obtain Company's approval. |
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 57–64)
What This Means (2025 FDD)
According to Jersey Mikes's 2025 Franchise Disclosure Document, when outlining provisions related to renewal, termination, transfer, and dispute resolution, the column titled "Agreement" specifies the relevant agreement for each provision. For provisions detailed within the Area Development Agreement, the corresponding column is titled "Section in Area Development Agreement". These columns provide franchisees with a clear reference to the specific sections within the franchise agreement or area development agreement that govern each provision.
For example, regarding conditions for Company approval of transfer, the relevant section is Section 19.2 of the Franchise Agreement. Similarly, the Company's right to acquire a business is detailed in Section 19.7 of the Franchise Agreement. For Area Development Agreements, franchisee transfer rights are defined in Section 20, and the franchisor's approval of transfer is found in Section 8.
Understanding these references is crucial for Jersey Mikes franchisees to quickly locate and review the exact terms and conditions related to various aspects of their franchise agreement or area development agreement. This level of detail helps ensure that franchisees are well-informed about their rights and obligations, facilitating smoother operations and clearer understanding of contractual requirements.