Who does the agreement between Petro Stopping Center and the Franchisee apply to?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
WHEREAS, Franchisor and Franchisee are parties to that certain Franchise Agreement, dated as of the date hereof (the "Franchise Agreement"), pursuant to which, among other things, Franchisor has granted to Franchisee the right to operate a Petro Center (as defined in the Franchise Agreement);
WHEREAS, in connection with the operation of the Franchised Business, Franchisee will receive certain Confidential Information (as defined in the Franchise Agreement);
WHEREAS, the parties desire to preserve, maintain and protect the confidential nature of such information;
NOW, THEREFORE, in consideration of the premises above, and the mutual covenants and agreements set forth herein and in the Franchise Agreement, and other good and valuable consideration, the parties hereto agree as follows:
Source: Item 4 — Other Owners: (FDD pages 228–302)
What This Means (2025 FDD)
According to the 2025 Petro Stopping Center Franchise Disclosure Document, the agreement applies to both the Franchisor and the Franchisee. Specifically, the document references a Franchise Agreement between Petro Franchise Systems LLC, as the Franchisor, and the Franchisee. This agreement grants the Franchisee the right to operate a Petro Center.
The agreement outlines the responsibilities and obligations of both parties. The Franchisee is expected to operate the Petro Center according to the standards set by Petro Stopping Center and to protect confidential information. Petro Stopping Center, as the Franchisor, grants the right to operate under its brand and provides support and guidance.
Furthermore, a Guaranty of Performance indicates that BP Corporation North America Inc. guarantees the duties and obligations of Petro Franchise Systems LLC under the Franchise Agreement. This guarantee remains effective until all obligations of the Franchisor are satisfied or the liability of the Franchisor to its franchisees has been completely discharged. This provides an additional layer of security for the Franchisee, ensuring that the Franchisor's obligations will be met.