Where can I find the definition of 'Due Date' within the Mrcool franchise agreement?
Mrcool Franchise · 2025 FDDAnswer from 2025 FDD Document
- "Due Date" shall have the meaning defined and set forth in Article 5.B. of this Agreement.
Source: Item 23 — RECEIPTS (FDD pages 55–263)
What This Means (2025 FDD)
According to Mrcool's 2025 Franchise Disclosure Document, the definition of "Due Date" can be found in Article 5.B. of the franchise agreement. This means that when franchisees need to understand the specific meaning of "Due Date" in the context of their agreement with Mrcool, they should refer to that particular section.
Article 5.B likely outlines the specific obligations and timelines associated with various payments or actions required by the franchisee. This could include royalty fees, marketing contributions, or other financial obligations. Understanding the precise definition of "Due Date" is crucial for franchisees to avoid late fees, penalties, or potential breaches of contract.
Prospective Mrcool franchisees should carefully review Article 5.B during their due diligence to fully understand their financial and operational obligations. They should also seek clarification from Mrcool's franchise representatives or legal counsel if any aspects of the "Due Date" definition are unclear or raise concerns.