What is the definition of 'Owner' in the context of The Standardx Hosting Services Agreement?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
| This Hosting Services Agreement ("Agreement") is made this day of , 2025 | |
|---|---|
| (the "Effective Date"), by and between | |
| (Name of Franchisee) | |
| , a(n) ("Owner") and | |
| Hyatt Franchising, L.L.C., a Delaware limited liability company ("Hyatt"). | |
| Hyatt and Owner may be referred to | |
| herein individually as a "Party" or together as the "Parties." | |
| WHEREAS, Owner owns or will own the [BRAND] Hotel, which is or will be located at, | |
| , (the "Property"), and the Property is operated pursuant to a franchise agreement |
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, in the context of the Hosting Services Agreement, 'Owner' refers to the franchisee entering into the agreement with Hyatt Franchising, L.L.C. The agreement specifies that 'Owner' is the name of the franchisee as indicated in the agreement's introductory section.
The agreement clarifies that The Standardx and Hyatt may be referred to individually as a 'Party' or together as the 'Parties.' This definition is crucial for understanding the responsibilities and rights outlined in the Hosting Services Agreement, as it clearly identifies the franchisee as the 'Owner' who owns or will own the [BRAND] Hotel.
This definition is important because it establishes the legal standing of the franchisee in relation to Hyatt within the scope of the Hosting Services Agreement. It ensures that both parties understand who is responsible for fulfilling the obligations and receiving the benefits described in the agreement, particularly concerning the hosting and related services provided by Hyatt in support of the Property Management System.