factual

Under what circumstances does Ledgers' appointment as Attorney in Fact, regarding telephone numbers, listings, and advertisements, take effect for a Ledgers franchise?

Ledgers Franchise · 2025 FDD

Answer from 2025 FDD Document

BACKGROUND

  • A. The parties are entering into a Franchise Agreement ("Agreement").
  • B. As a condition to signing the Franchise Agreement, we have required that you appoint us Attorney in Fact, to take effect upon the expiration or termination of the Agreement, as to the telephone numbers, listings, and advertisements (collectively "Listings") relating to your Franchise.

TELEPHONE NUMBER ASSIGNMENT

Upon expiration or termination of the Agreement for any reason, Franchisee's right of use of the Listings shall terminate. In the event of termination or expiration of the Agreement, Franchisee will pay all amounts owed in connection with the Listings, and to immediately at Franchisor's request,

  • A. take any other action as may be necessary to transfer the Listings to Franchisor or Franchisor's designated agent,
  • B. install and maintain, at Franchisee's sole expense, an intercept message, in a form and manner acceptable to Franchisor on any or all of the Listings;
  • C. disconnect the Listings; and/or
  • D. cooperate with Franchisor or its designated agent in the removal or relisting of the Listings

Franchisor may require Franchisee to "port" or transfer to Franchisor or an approved call routing and tracking vendor all Listings.

Appointment as Attorney in Fact.

For value received, Franchisee hereby irrevocably appoints Franchisor as Franchisee's attorney-in-fact, to act in Franchisee's place, for the purpose of assigning any Listings. This appointment gives to us full power to receive, transfer or assign to us or our designee or take any other actions required of Franchisee under the Agreement. Franchisee grants Franchisor full authority to act in any manner proper or necessary to the exercise of the foregoing powers, including full power of substitution and execution or completion of any documents required or requested by any telephone or other company to transfer such Listings and Franchisee ratifies every act that Franchisor may lawfully perform in exercising those powers. This power of attorney shall be effective for a period of two (2) years from the date of expiration, cancellation or termination of Franchisee's rights under the Agreement for any reason. Franchisee declares this power of attorney to be irrevocable and renounces all rights to revoke it or to appoint another person to perform the acts referred to in this instrument. This power of attorney shall not be affected by the subsequent incapacity of Franchisee. This power is created to secure performance of a duty to Franchisor and is for consideration.

Source: Item 22 — CONTRACTS (FDD page 46)

What This Means (2025 FDD)

According to Ledgers' 2025 Franchise Disclosure Document, as a condition of signing the Franchise Agreement, Ledgers requires that the franchisee appoint them as Attorney in Fact. This appointment becomes effective upon the expiration or termination of the Franchise Agreement. This appointment applies specifically to the telephone numbers, listings, and advertisements related to the franchisee's Ledgers franchise.

Upon the termination or expiration of the agreement, the franchisee's right to use the listings will end. The franchisee is responsible for paying all outstanding amounts associated with the listings. Additionally, at Ledgers' request, the franchisee must take necessary actions to transfer the listings to Ledgers or its designated agent. This includes installing an intercept message, disconnecting the listings, and cooperating with Ledgers in the removal or relisting of the listings.

Ledgers, as the Attorney in Fact, has the power to receive, transfer, or assign the listings to themselves or their designee. This appointment grants Ledgers full authority to act in any manner necessary to exercise these powers, including executing documents required by telephone or other companies to transfer the listings. This power of attorney is effective for two years from the date of expiration, cancellation, or termination of the franchisee's rights under the agreement. The power of attorney is irrevocable and remains in effect even if the franchisee becomes incapacitated.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.