What is the subject of Schedule 5 within the Ledgers Franchise Agreement?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
TABLE OF CONTENTS
- Scope 2 2. 3. Duties of Franchisor 4. anchisee 5. Property 6. ity 7. Transfer .15 8. Termination .17 9. Dispute Res olution .20 10. General .22 Schedu les Ç, Schedule 1 Schedule 2 Territory Automatic Bank Draft Authorization Ç, Schedule 3 Schedule 4 Schedule 5 Schedule 6 Telephone Number Assignment Lease Rider Release State Addenda to the Franchise Agreement
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to the 2025 Ledgers Franchise Disclosure Document, Schedule 5 of the Franchise Agreement pertains to the lease rider. This is evident from the table of contents of the franchise agreement, which lists the schedules included in the agreement.
For a prospective Ledgers franchisee, understanding the lease rider is crucial if they plan to lease a commercial space for their Ledgers office. The lease rider likely contains specific terms and conditions related to the lease agreement between the franchisee (as the tenant) and the landlord, with Ledgers (the franchisor) also having certain rights and obligations.
Specifically, the lease rider outlines several key provisions. These include the use of the leased premises solely for operating a Ledgers office, the landlord's obligation to provide Ledgers with copies of any default notices given to the franchisee, and Ledgers' option to cure any default under the lease if the franchisee fails to do so. Additionally, the lease rider addresses the termination of the lease, giving Ledgers the option to enter into a new lease with the landlord under the same terms if the original lease is terminated due to the franchisee's default. It also covers the assignment and subletting of the lease, allowing the franchisee to assign or sublet the lease to Ledgers under certain conditions, and authorizes the landlord and Ledgers to communicate directly about the franchisee's business.