What is the deadline for providing Marble Slab Creamery with a copy of the purchase agreement or site lease?
Marble_Slab_Creamery Franchise · 2025 FDDAnswer from 2025 FDD Document
ider in the form that is attached to the Franchise Agreement. You must enter into, and provide us with a fully executed copy of, the purchase agreement and/or site lease and Lease Rider (unless we waive the Lease Rider requirement in writing), as applicable, within the earlier to occur of: (i) 10 days after full execution of the site lease or purchase agreement, as applicable; or (ii) 240 days after the Effective Date of the Franchise Agreement (the "Site Securitization Deadline"). (Franchise Agreement - Section 5.1(b)).
If you do not enter into and provide us with a copy of the purchase agreement or Site Lease, as applicable, in accordance with the requirements of the Franchise Agreement on or before the Site Securitization Deadline, so long as you are otherwise in compliance with your obligations under the Franchise Agreement and so long as you are using best efforts to secure a Site and enter into a purchase or lease agreement for the Site, we will grant you one 60-day extension to the Site Securitization Deadline (the "Site Securitization Extension") in exchange for your payment of a $5,000 extension fee (the "60-Day Extension Fee"). The 60-day Extension Fee shall be due and payable to us immediately upon the expiration of the Site Securitization Deadline and we shall have the right to automatically deduct the 60-Day
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 53–62)
What This Means (2025 FDD)
According to the 2025 Marble Slab Creamery FDD, a franchisee must provide Marble Slab Creamery with a fully executed copy of the purchase agreement and/or site lease, along with a Lease Rider if applicable, within a specific timeframe. This timeframe is determined by whichever comes first: either 10 days after the full execution of the site lease or purchase agreement, or 240 days after the effective date of the Franchise Agreement. This deadline is referred to as the "Site Securitization Deadline."
If the franchisee fails to meet the Site Securitization Deadline but is otherwise compliant with the Franchise Agreement and is actively working to secure a site, Marble Slab Creamery may grant a one-time 60-day extension, known as the "Site Securitization Extension." This extension requires the franchisee to pay a $5,000 extension fee, which Marble Slab Creamery can automatically deduct from the franchisee's account via electronic funds transfer.
It is important for prospective Marble Slab Creamery franchisees to understand these deadlines and the associated financial implications. Failing to meet the initial deadline could result in an extension fee, and continued failure to secure a site could potentially lead to termination of the Franchise Agreement. Franchisees should maintain open communication with Marble Slab Creamery and diligently pursue site selection to avoid these potential issues.