What releases must a transferring Petro Stopping Center franchisee sign?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
(j) you (and your transferring Owners) must sign a general release, in form satisfactory to us, of any and all claims against us, our Affiliates, and our shareholders, officers, directors, employees and agents;
(n) you and your transferring Owners (and your and your Owners' spouses) must sign a non-competition covenant in favor of us agreeing to be bound, commencing on the effective date of the transfer, by the restrictions contained in this Agreement; and
(o) you and your transferring Owners must agree that you and they will not directly or indirectly at any time or in any manner (except with respect to other Petro Centers you own and operate) identify yourself or themselves or any business as a current
or former Petro Center, or as one of our licensees or franchisees, use any Mark, any colorable imitation of a Mark, or other indicia of a Petro Center in any manner or for any purpose or utilize for any purpose any trade name, trade or service mark or other commercial symbol that suggests or indicates a connection or association with us.
Source: Item 14 — Other investments (FDD pages 131–208)
What This Means (2025 FDD)
According to Petro Stopping Center's 2025 Franchise Disclosure Document, a transferring franchisee and their transferring owners must sign a few releases. First, they must sign a general release, in a form satisfactory to Petro Stopping Center, that releases any and all claims against Petro Stopping Center, its affiliates, and its shareholders, officers, directors, employees, and agents.
Second, the transferring franchisee and their transferring owners (and their spouses) must sign a non-competition covenant in favor of Petro Stopping Center. This agreement ensures they are bound by the restrictions outlined in the franchise agreement, starting from the effective date of the transfer.
Third, the transferring franchisee and their transferring owners must agree not to identify themselves or any business as a current or former Petro Stopping Center, or as one of its licensees or franchisees. They also cannot use any Petro Stopping Center marks or other indicators of a Petro Stopping Center. This prevents them from utilizing any trade names, trademarks, service marks, or commercial symbols that suggest a connection with Petro Stopping Center, except with respect to other Petro Stopping Centers they own and operate. These measures protect Petro Stopping Center's brand and market position after a transfer.