Who are the 'NBC Parties' that are released from claims in a Nothing Bundt Cakes franchise agreement?
Nothing_Bundt_Cakes Franchise · 2025 FDDAnswer from 2025 FDD Document
Releasor does for itself, its successors, assigns, personal representatives, agents, owners, managers, members, officers, employees, principals and affiliated entities (Releasor Parties"), hereby forever release and discharge Franchisor and any past or present, direct or indirect affiliate, wholly owned or controlled corporation, subsidiary, successor or assign thereof and any past or present shareholder, member, manager, officer, director, employee, or agent of any of them ("collectively, the "NBC Parties") from any and all claims, demands, costs, expenses, causes of action, damages, suits, duties, liabilities, agreements and contracts, indebtedness, accounts of every kind or nature, whether presently known or unknown, suspected or unsuspected, disclosed or undisclosed, actual or potential (all such matters, collectively, "Claims"), which Releasor and any other Releasor Parties may now have, or may hereafter claim to have or to have acquired against them of whatever source or origin, arising out of or related to any and all transactions of any kind or character at any time prior to and including the date hereof, including generally any and all claims at law or in equity, those arising under the common law or state or federal statutes, rules or regulations such as, by way of example only, franchising, securities and anti-trust statutes, rules or regulations, in any way arising out of or connected with (i) the offer and sale of the Nothing Bundt Cakes franchise, (ii) the Franchise Agreement ,and any renewals thereof, and (iii) the operation of the Bakery up to the date of this release or (iv) otherwise arising out of or related in any way to Releasor's or the Releasor's Parties' relationship, from the beginning of time to the date of the execution of this Release.
Source: Item 23 — RECEIPTS (FDD pages 93–309)
What This Means (2025 FDD)
According to Nothing Bundt Cakes' 2025 Franchise Disclosure Document, the 'NBC Parties' that are released from claims include the franchisor and its affiliates. Specifically, this encompasses any past or present direct or indirect affiliate, wholly owned or controlled corporation, subsidiary, successor, or assign of the franchisor.
In addition, the 'NBC Parties' also include any past or present shareholder, member, manager, officer, director, employee, or agent of any of the entities mentioned above. This broad definition ensures that a wide range of individuals and entities connected to the Nothing Bundt Cakes franchise system are protected from potential claims by the franchisee.
This release covers any and all claims, demands, costs, expenses, causes of action, damages, suits, duties, liabilities, agreements, contracts, indebtedness, and accounts of every kind or nature, whether known or unknown, suspected or unsuspected, disclosed or undisclosed, actual or potential. The release extends to matters arising out of or related to any and all transactions prior to and including the date of the release, including claims related to the offer and sale of the Nothing Bundt Cakes franchise, the Franchise Agreement, the operation of the Bakery, or the franchisee's relationship with the franchisor.