Does the Learningrx Franchise Agreement include an attachment for a Collateral Assignment of Telephone Numbers, Addresses, and Listings?
Learningrx Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached to this Disclosure Document are the following contracts:
Exhibit B Franchise Agreement:
Attachment I Addendum
Attachment II Satellite Location Addendum
Attachment III Collateral Assignment of Telephone Numbers,
Addresses, and Listings
Attachment IV Statement of Ownership
Attachment VGuaranty & Assumption of Franchisee's Obligations Attachment VI Addendum Consent to Transfer for SBA
Attachment VII New Franchise Disclosure Questionnaire
Attachment VIII Confidentiality & Covenant Not to Compete Agreement
Attachment IX Lease Rider Attachment X SBA Addendum
Source: Item 22 — CONTRACTS (FDD page 54)
What This Means (2025 FDD)
According to the 2025 Learningrx Franchise Disclosure Document, the Franchise Agreement, as detailed in Exhibit B, does include an attachment specifically for the Collateral Assignment of Telephone Numbers, Addresses, and Listings. This attachment, listed as Attachment III, indicates that as a franchisee, you may be required to assign your center's telephone numbers, addresses, and listings to Learningrx as collateral. This is a fairly standard practice in franchising to protect the brand and customer relationships.
This collateral assignment likely ensures that Learningrx can maintain control over these key contact points if the franchise agreement is terminated, allowing them to redirect customer inquiries and maintain continuity of service. For a prospective franchisee, this means that upon termination or transfer of the franchise, you would relinquish control of the phone numbers, addresses, and listings associated with your Learningrx center.
It is important for potential Learningrx franchisees to carefully review the terms outlined in Attachment III of the Franchise Agreement to fully understand the scope and implications of this collateral assignment. Understanding the conditions under which Learningrx can exercise its rights to these assets is crucial. Franchisees should also clarify with Learningrx what specific procedures are involved in the assignment and reassignment of these assets to ensure a smooth transition should the need arise.