How does the All Team agreement define 'Fixtures'?

According to All Team's 2025 Franchise Disclosure Document, the term "Fixtures" is defined within the context of a security agreement between the franchisee (Debtor) and All Team Franchise Corporation (Secured Party). The definition is part of a broader list of defined terms used in the agreement, which aims to establish a security interest for All Team in the franchisee's property. This security interest ensures the franchisee meets their financial obligations to All Team.

Specifically, "Fixtures" is included as one of the components of "Collateral." The agreement defines "Collateral" as encompassing a wide range of assets, including Accounts, Chattel Paper, Documents, Fixtures, Goods (which further includes Equipment, Inventory, farm products, and consumer goods), General Intangibles, Instruments, money, and all other personal property currently owned or later acquired by the franchisee. It also extends to all Proceeds and products derived from these assets.

For a prospective All Team franchisee, this definition is important because it means that All Team has a security interest in any fixtures the franchisee owns or acquires for their business. This could include items attached to the real property of the business location. If the franchisee defaults on their obligations to All Team, these fixtures could be seized and sold to satisfy the debt. Franchisees should carefully consider the implications of granting such a broad security interest and seek legal counsel to fully understand their obligations and rights under the security agreement.