What are the two conditions that must be met for Marble Slab Creamery to grant a Site Securitization Extension?
Marble_Slab_Creamery Franchise · 2025 FDDAnswer from 2025 FDD Document
itization 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 Marble Slab Creamery's 2025 Franchise Disclosure Document, a franchisee may be granted a 60-day Site Securitization Extension if they meet certain conditions. The first condition is that the franchisee must be in compliance with all obligations under the Franchise Agreement. The second condition is that the franchisee must be using their best efforts to secure a site and enter into a purchase or lease agreement for the site.
If these conditions are met, Marble Slab Creamery will grant the franchisee one 60-day extension to the Site Securitization Deadline. In exchange for this extension, the franchisee must pay a $5,000 extension fee. This fee is due immediately upon the expiration of the Site Securitization Deadline, and Marble Slab Creamery has the right to automatically deduct the fee from the franchisee's account via electronic funds transfer.
This extension provides franchisees with additional time to finalize their site selection and lease or purchase agreements. However, it's important to note that the extension is not automatic and requires meeting specific conditions and paying a fee. Franchisees should be aware of these requirements and plan accordingly to avoid delays in their restaurant opening.