Does the Southern Steer Lease Addendum define all terms within it, or are some terms defined elsewhere?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
| This Addendum to Lease ("Addendum"), dated, is entered into by and | ||
|---|---|---|
| between ("Lessor"), and ("Lessee"). In the event of any | ||
| contradiction or inconsistency between the terms and provisions of this Addendum and the terms and | ||
| provisions of the Lease to which it is attached, the terms and provisions of this Addendum will | control and | |
| be interpreted in such a manner as to override any provision of the Lease which would prevent the spirit | ||
| and letter of the terms and provisions of this Addendum from being given full force and effect. All defined | ||
| terms not specifically defined | be given the same meaning as the defined terms in the | |
| in this Addendum will | ||
| Lease. |
Source: Item 22 — ITEM. 22 CONTRACTS (FDD pages 61–168)
What This Means (2025 FDD)
According to the 2025 Southern Steer FDD, the Lease Addendum does not define all of its terms within the document itself. Instead, it references the original lease agreement for definitions of terms not explicitly defined in the addendum.
Specifically, the Lease Addendum states that if a term is not specifically defined within the addendum, it will have the same meaning as defined in the original lease agreement. This means that franchisees and lessors must refer back to the original lease to understand the full context and meaning of certain terms used in the addendum.
This approach ensures consistency between the Lease Addendum and the original lease. However, it also places the onus on the franchisee to carefully review both documents to fully understand their rights and obligations. Prospective Southern Steer franchisees should pay close attention to how terms are defined in both the Lease Addendum and the original lease to avoid any misunderstandings or disputes later on.