For a Noodles & Company franchisee that is a partnership, what information about the partners is required in Exhibit A?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
Owners. Franchisee and each of its Owners represents and warrants that the following is a complete and accurate list of all Owners of Franchisee, including the full name and mailing address of each Owner, and fully describes the nature and extent of each Owner's interest in Franchisee. Franchisee and each Owner as to his ownership interest, represents and warrants that each Owner is the sole and exclusive legal and beneficial owner of his ownership interest in Franchisee, free and clear of all liens, restrictions, agreements and encumbrances of any kind or nature, other than those required or permitted by this Agreement.
OWNER'S NAME AND ADDRESS: PERCENTAGE AND NATURE OF OWNERSHIP INTEREST: Submitted by Franchisee on this day of , 20 Accepted by Franchisor and made a part of the Franchise Agreement as of , 20 Name of corporation or Partnership: NOODLES & COMPANY, a Delaware corporation _ Ву: - _ OWNERS: -
Source: Item 22 — CONTRACTS (FDD pages 98–99)
What This Means (2025 FDD)
According to Noodles & Company's 2025 Franchise Disclosure Document, Exhibit A requires a franchisee that is a partnership to provide a complete and accurate list of all partners. This list must include the full name and mailing address of each partner. Additionally, the nature and extent of each partner's interest in the Noodles & Company franchise must be fully described.
Noodles & Company requires that the franchisee and each partner warrant that each partner is the sole and exclusive legal and beneficial owner of their ownership interest in the franchise. This ownership must be free and clear of all liens, restrictions, agreements, and encumbrances, except as required or permitted by the Franchise Agreement. This ensures that the franchisor knows exactly who owns and controls the franchise and that those owners have clear title to their interests.
This information is submitted by the franchisee and then accepted by Noodles & Company, at which point it becomes part of the Franchise Agreement. This process ensures that Noodles & Company has a formal record of the ownership structure of each franchise, which is crucial for legal and operational purposes. This requirement is typical in franchising, as franchisors need to know and approve the individuals or entities operating their branded locations.