In the context of Marble Slab Creamery, what constitutes a 'Member Offer Period'?
Marble_Slab_Creamery Franchise · 2025 FDDAnswer from 2025 FDD Document
- 9.3.3 Terms and Conditions. Each purchase of the Offered Units pursuant to this Section 9.3 shall be made in accordance with the following terms and conditions:
- (a) Within the period ending fifteen (15) days after receipt of the Offer Notice (the "Member Offer Period") the Transferee Member shall deliver to the Manager notice of acceptance of the offer (the "Member Acceptance Notice") specifying the number of Offered Units that it agrees to purchase (the "Accepted Units").
- (b) Delivery of a Member Acceptance Notice to the Manager shall create a binding contract between the Transferee Member and the Transferor for the purchase and sale, at the Purchase Price and on the terms described below, of the Accepted Units.
- (c) The transfer of the Accepted Units to the Transferee Member shall be consummated on the terms set forth in the Offer Notice on a date set by the Company (the "Closing Date"), which date shall be not less than fifteen (15) nor more than thirty (30) days after expiration of the Member Offer Period applicable to the Offered Units.
Source: Item 23 — RECEIPT (FDD pages 101–346)
What This Means (2025 FDD)
According to Marble Slab Creamery's 2025 Franchise Disclosure Document, the 'Member Offer Period' is a specific timeframe related to the transfer of ownership units within the franchise system. This period dictates how long a current member has to decide whether to purchase ownership units that another member is offering for sale.
Specifically, the Member Offer Period lasts for fifteen (15) days after a Transferee Member receives an Offer Notice. During this time, the Transferee Member must notify the Manager of their decision to accept the offer and specify the number of Offered Units they wish to purchase. This notification is called the 'Member Acceptance Notice'.
Delivery of the Member Acceptance Notice within the 15-day Member Offer Period creates a binding contract between the Transferee Member and the Transferor for the sale of the Accepted Units at the agreed Purchase Price. The actual transfer of units then occurs on a Closing Date set by the company, which must be between fifteen (15) and thirty (30) days after the Member Offer Period expires. This structured process ensures existing members have the first opportunity to increase their stake in the Marble Slab Creamery business before outside parties can acquire those units.