What is the agreement in this section for The Standardx called?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
-------------------------------------------------------------------------|-----------------------------------------------------------------------------------| | and between, a ("Franchisee") and the | | | franchisor entity set forth in Exhibit C ("Hyatt"). | | | | | | 1. | Background. Hyatt and Franchisee are parties to that certain Franchise Agreement | | dated, 2025 that has been signed concurrently with the signing of | | | this Rider. This Rider is annexed to and forms part of the Franchise Agreement. This Rider is | | | being signed because (a) Franchisee is a resident of Maryland, or (b) the Brand Hotel will be | | | located or operated in Maryland. | | | 2. | Releases. The following language is added to the end of Sections 10, 12.4(e) and | | 13.3 of the Franchise Agreement: | | | ; provided, however, that such general release shall not apply to any liability under | | | the Maryland Franchise Registration and Disclosure Law. | | | 3. | Dispute Resolution. The following sentence is added to the end of the first | | paragraph of Section 14.1: | | | Franchisee may, subject to any arbitration obligations, bring an action in Maryland | | | for claims arising under the Maryland Franchise Registration and Disclosure Law | | | to the extent required by the Maryland Franchise Registration and Disclosure Law, | | | unless preempted by the Federal Arbitration Act. | | | 4. | Governing Law.
Source: Item 18 — OTHER INCOME (LOSS), NET (FDD pages 187–399)
What This Means (2025 FDD)
According to The Standardx's 2025 Franchise Disclosure Document, the agreement referenced in this section is called "Agreement". Specifically, the document refers to a rider that is made and entered into as of 2025, and it identifies this rider as "this 'Agreement'".
This agreement is between the franchisee and Hyatt, the franchisor entity. The rider is signed concurrently with the Franchise Agreement and forms a part of it. The rider is required if the franchise offer or sale was made in North Dakota, or if the franchisee is a resident of North Dakota and will operate the Brand Hotel in North Dakota. Similar riders exist for franchisees in Maryland and Minnesota.
Prospective franchisees should understand that this "Agreement" refers to a rider that modifies the original Franchise Agreement, particularly concerning legal and regulatory aspects specific to certain states. It is important to carefully review this rider in conjunction with the Franchise Agreement to fully understand the terms and conditions applicable to their specific situation, especially if they are operating in or are residents of North Dakota, Maryland, or Minnesota.