Does the text specify any deadlines related to The Standardx Confidentiality Agreement?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
| This CONFIDENTIALITY AGREEMENT (this "Agreement") is made as of this day of | |
|---|---|
| ,, by and between, a[n], whose | |
| address is ("Company") and HYATT FRANCHISING, L.L.C., a | |
| Delaware limited liability company, whose address is 150 North Riverside Plaza, Chicago, Illinois 60606 | |
| ("Hyatt"). Hyatt and/or Company may each also be referred to herein as a "party" or collectively as the "parties" | |
| and a party which is disclosing Confidential Information may be referred to herein as the "disclosing party" and | |
| the party which is receiving Confidential Information may be referred to herein as the "receiving party." | |
| RECITALS | |
| A. | |
| Company and Hyatt are discussing mutual business opportunities relating to the possible transaction (the | |
| "Transaction") with respect to the property commonly known as (the "Property") and | |
| the hotel business conducted thereon (the "Business") and Company and Hyatt desire to share certain Confidential | |
| Information (as defined herein) with each other, subject to the terms contained herein. | |
| B. | |
| Hyatt and Company wish to enter into this Agreement to confirm that the Confidential Information will | |
| be treated as confidential in accordance with the terms of this Agreement, and to provide the parties hereto with | |
| certain rights and remedies in connection with the violation of this Agreement. | |
| NOW, THEREFORE, in consideration of the mutual promises, covenants, and agreements contained herein, and | |
| for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties | |
| agree as follows: | |
| 1. | |
| Confidential Information. "Confidential Information" shall mean the information provided by either party | |
| to the other with respect to the Property and Business including, but not limited to, the following: (a) management | |
| and operational information, forecasts, and projections; (b) financing information; (c) proprietary know-how, data, | |
| documents, designs, photographs, plans, graphs, drawings, specifications, pro forma models, reports, contracts, | |
| customer lists, pricing information, studies, findings, and other ideas; (d) entity information relating to the | |
| disclosing party including, without limitation, any joint venture agreement, limited liability company agreement | |
| or similar arrangements; (e) documents relating to real property interests including, but not limited to, | |
| environmental reports and audits; (f) information that should be treated as confidential under the circumstances | |
| surrounding its disclosure, including without limitation, proprietary information |
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 excerpt provided outlines the nature and scope of the Confidentiality Agreement but does not specify any explicit deadlines related to it. The agreement is established between Hyatt Franchising, L.L.C. and a company to ensure that confidential information shared during discussions about potential business transactions is protected. The document defines what constitutes "Confidential Information," including management, operational, and financial details related to the property and business under consideration.
While the agreement itself is established as of a certain date, the excerpt does not detail any specific timeframes for the agreement's duration, the return of confidential materials, or any other time-sensitive actions. The agreement focuses on the ongoing treatment of shared information as confidential, aiming to provide both parties with rights and remedies if the agreement is violated.
For a prospective The Standardx franchisee, this means that while the excerpt confirms the existence of a confidentiality agreement, it does not provide details on its specific deadlines or expiration. To fully understand the obligations and time constraints associated with the Confidentiality Agreement, a potential franchisee should seek clarification from The Standardx regarding the agreement's term, conditions for termination, and any requirements for the return or destruction of confidential information upon conclusion of discussions or termination of the agreement.