factual

Who is considered the 'Releasor' in the context of the release agreement for a Southern Steer franchise?

Southern_Steer Franchise · 2025 FDD

Answer from 2025 FDD Document

Franchisee does for itself, its Guarantors, predecessors, parent, successor, heirs, affiliates, subsidiaries, assigns and each of their respective present and former officers, directors, owners, shareholders, members, partners, managers, employees, agents, executor, administrator, estate, trustee and representatives (collectively, "Releasor") hereby release and forever discharge generally the Franchisor and any predecessors, successors, heirs, affiliates, wholly owned or controlled corporation, subsidiaries, parent, assigns thereof and any present and former shareholders, members, partners, managers, owners, officers, directors, employees, executor, administrator, estate, trustee or agents of any of them (collectively, "Franchisor Released Parties"), from any and all claims, demands, damages, injuries, agreements and contracts, indebtedness, accounts of every kind or nature, whether presently known or unknown, suspected or unsuspected, disclosed or undisclosed, actual or potential, which Releasor 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, the relationship between Releasor and Franchisor Released Parties and the Releasor and Franchisor Released Parties negotiation of and entry into any transaction or agreement, 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 the claims (collectively, "Claims"), and further promises never from this day forward, directly or indirectly, to institute, prosecute, commence, join in, or generally attempt to assert or maintain any action thereon against the Franchisor Released Parties, in any court or tribunal of the United States of America, any state thereof, or any other jurisdiction for any matter or Claim arising before execution of this Agreement. In the event Releasor breaches any of the promises covenants, or undertakings made herein by any act or omission, Releasor shall pay, by way of indemnification, all costs and expenses of the Franchisor caused by the act or omission, including reasonable attorneys' fees.

Source: Item 5 — and 7 of the FDD, Section 3.1 of the Franchise Agreement and Section 4.1 of the Multi-Unit Development Agreement are hereby amended to state that payment of the initial franchise fee and development fee will be deferred until We have satisfied Our pre-opening obligations, and You have commenced business operations. (FDD pages 168–290)

What This Means (2025 FDD)

According to the 2025 Southern Steer Franchise Disclosure Document, the 'Releasor' in the release agreement encompasses a broad range of individuals and entities associated with the franchisee. This includes the franchisee itself, its guarantors, predecessors, parent company, successors, heirs, affiliates, subsidiaries, and assigns.

Furthermore, the definition extends to the present and former officers, directors, owners, shareholders, members, partners, managers, employees, agents, executors, administrators, estates, trustees, and representatives of all the aforementioned parties. This comprehensive list ensures that the release covers a wide spectrum of individuals and entities that could potentially bring claims against Southern Steer.

This definition is important for prospective franchisees to understand, as it means that by signing the release, they are not only waiving their own rights to make claims against Southern Steer, but also the rights of many related parties. Franchisees should carefully consider the implications of this broad release and consult with legal counsel to fully understand its scope and impact.

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.