factual

Who are considered 'Releasing Parties' in the context of a release agreement with Sonesta Select Sonesta Essential?

Sonesta_Select_Sonesta_Essential Franchise · 2025 FDD

Answer from 2025 FDD Document

The Franchisee Parties, and each of them, on behalf of themselves and their respective current and former parents, affiliates, and subsidiaries, and each such foregoing person's or entity's respective agents, spouses, heirs, principals, attorneys, owners, officers, directors, employees, representatives, predecessors, successors, and assigns (collectively, the "Releasing Parties"), hereby fully and forever unconditionally release and discharge us and our current and former parents, subsidiaries, and affiliates, and our and each such foregoing entity's respective current and former owners, officers, directors, employees, managers, agents, representatives, predecessors, successors, and assigns (the "Released Parties"), of and from any and all claims, obligations, debts, proceedings, demands, causes of actions, rights to terminate and rescind, liabilities, losses, damages, and rights of every kind and nature whatsoever (collectively, "Claims"), whether at law or in equity, and known or unknown, which any of the Releasing Parties had, has, or may have had, in any way arising out of or relating to any relationship or transaction with any of the Released Parties, however characterized or described, from the beginning of time until the date set forth below each of the Franchisee Parties' signature to this Agreement, including, without limitation, any and all Claims in any way arising out of or relating to the Existing Franchise Agreement, this Agreement, the relationships created by any of the foregoing, or the development, ownership, or operation of the Hotel, or any other agreements entered into between any of the Released Parties and any of the Releasing Parties.

Source: Item 23 — RECEIPTS (FDD pages 84–261)

What This Means (2025 FDD)

According to Sonesta Select Sonesta Essential's 2025 Franchise Disclosure Document, the Releasing Parties in a release agreement encompass a broad range of individuals and entities connected to the franchisee. These include the franchisee themselves, along with their current and former parents, affiliates, and subsidiaries.

Furthermore, the definition extends to the agents, spouses, heirs, principals, attorneys, owners, officers, directors, employees, representatives, predecessors, successors, and assigns of both the franchisee and their associated entities. This comprehensive list ensures that the release covers virtually anyone who might have a claim against Sonesta Select Sonesta Essential related to the franchise agreement.

This definition is important for prospective franchisees as it clarifies who is giving up their rights to make claims against Sonesta Select Sonesta Essential. Before signing any release, franchisees should fully understand who the Releasing Parties are and the implications of waiving potential claims on their behalf. It is advisable to seek legal counsel to fully grasp the scope and impact of such a release.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.