What post-termination obligations must the Assignor comply with for Precision Door Service?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
s of any nature resulting, directly or indirectly, from any of the following: (i) any misrepresentations or breach of warranty by Assignor under this Agreement; (ii) the Assignment; or (iii) any claim, suit or proceeding initiated by or for a third party(s), now or in the future, that arises out of or relates to the Old Franchise Agreement or the Franchised Business operated by Assignor prior to the Effective Date.
- B. Assignee, for itself, its heirs, successors and assigns, agrees to indemnify and hold harmless Franchisor, its affiliates, successors, assigns, officers, directors, employees, agents, and each of them, against any and all liabilities, damages, actions, claims, costs (including reasonable attorneys' fees) or expenses of any nature resulting, directly or indirectly, from any of the following: (i) any misrepresentations or breach of warranty by Assignee under this Agreement; or (ii) the Assignment.
-
- Assignor's Post-Termination Obligations. Assignor agrees that, upon transfer of its interest in the Franchised Business to Assignee, Assignor will comply with all post-termination obligations set forth in Section 13 of the Old Franchise Agreement, which obligations shall be incorporated herein by reference.
Source: Item 23 — Receipts (FDD pages 92–433)
What This Means (2025 FDD)
According to the 2025 Precision Door Service FDD, an assignor who transfers their interest in a franchised business to an assignee must comply with all post-termination obligations as detailed in Section 13 of the Old Franchise Agreement. These obligations are incorporated by reference into the assignment agreement.
Additionally, the assignor must adhere to any other provisions of the Old Franchise Agreement that, by their nature, are designed to survive the termination or expiration of the agreement. This ensures that certain responsibilities and duties continue even after the franchise relationship has ended.
Furthermore, the assignor is required to indemnify and hold harmless Precision Door Service, its affiliates, successors, assigns, officers, directors, employees, and agents against any liabilities, damages, actions, claims, costs, or expenses resulting directly or indirectly from (i) any misrepresentations or breach of warranty by the assignor, (ii) the assignment itself, or (iii) any third-party claim arising from the Old Franchise Agreement or the franchised business operated by the assignor before the effective date of the assignment.