For a Learningrx franchise, what section in the Franchise Agreement and which item in the Disclosure Document relate to the Guaranty and Assumption of Franchisee’s Obligations?
Learningrx Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 9: FRANCHISEE'S OBLIGATIONS]
| Obligation | Section in Franchise Agreement | Item in Disclosure Document |
|---|---|---|
| q. Owner’s participation/management staffing | Sections 12.04 | 15 |
| r. Records/reports | Section 7 | Not applicable |
| s. Inspection/audits | Section 11 | Not applicable |
| t. Transfer | Section 14 | 17 |
| u. Renewal | Section 3 | 17 |
| v. Post-termination obligations | Sections 13.03, 13.04 | 17 |
| w. Non-competition covenants | Sections 7.5, 15.01 | 17 |
| x. Guaranty and Assumption of Franchisee’s | Section 2.03 and Attachment V | 15 |
| Obligations | ||
| y. Other: Guaranty | Section 7.04 and Schedule B | 15 |
Source: Item 9 — FRANCHISEE'S OBLIGATIONS (FDD pages 24–26)
What This Means (2025 FDD)
According to Learningrx's 2025 Franchise Disclosure Document, Item 9 details the franchisee's obligations. Specifically, it outlines where to find more information about these obligations within the franchise agreement and other items of the disclosure document.
For the Guaranty and Assumption of Franchisee’s Obligations, Section 2.03 and Attachment V of the Franchise Agreement are relevant. Additionally, Item 15 in the Disclosure Document provides further information on this topic. This means that prospective Learningrx franchisees should carefully review these sections to understand their responsibilities and the obligations they are guaranteeing.
Furthermore, the general guaranty is addressed in Section 7.04 and Schedule B of the Franchise Agreement, and also in Item 15 of the Disclosure Document. This indicates that there are distinct aspects of the guaranty covered in different parts of the agreement, so franchisees need to be aware of both the general guaranty and the specific guaranty related to the assumption of obligations.