What is considered an 'Instrument' under the All Team agreement?

According to All Team's 2025 Franchise Disclosure Document, an "Instrument" is defined within the context of the franchise agreement. It includes any negotiable instrument or certificated security. Additionally, it encompasses any written document that serves as evidence of a right to payment of money.

However, this definition specifically excludes any security agreement or lease. To qualify as an "Instrument" under the All Team agreement, the writing must be transferable in the ordinary course of business. This transfer is facilitated through delivery, along with any necessary endorsement or assignment.

For a prospective All Team franchisee, understanding this definition is crucial as it clarifies the types of financial documents and securities that fall under the purview of the agreement, particularly in relation to obligations and potential transfers of rights to payment. This definition helps to delineate the scope of financial instruments that are relevant to the franchise relationship and any related security interests.