To whom is the All Team Processing Agreement binding?

According to All Team's 2025 Franchise Disclosure Document, the Processing Agreement is binding upon All Team Franchise Corporation, Inc. ("ATFC") and the franchisee ("USER"), as well as their permitted successors and assigns. This means that both All Team and the franchisee are legally obligated to adhere to the terms and conditions outlined in the Processing Agreement. Furthermore, these obligations extend to any entities or individuals who rightfully take over the rights and responsibilities of either party.

This clause ensures that the Processing Agreement remains effective even if the ownership or structure of either All Team or the franchise changes. For example, if All Team is acquired by another company, the new company would also be bound by the Processing Agreement. Similarly, if a franchisee sells their franchise to a new owner, the new owner would inherit the obligations and benefits of the Processing Agreement.

The Processing Agreement's assignability is further clarified within the document, stating that All Team has the right to assign the agreement. However, the franchisee's ability to assign the agreement is restricted, requiring prior written consent from All Team, which cannot be unreasonably withheld. Additionally, any assignment by the franchisee must occur in conjunction with a corresponding assignment under the Franchise Agreement itself. This dual requirement ensures that the Processing Agreement and the Franchise Agreement remain aligned, preventing a situation where one agreement is transferred without the other.

In practical terms, this means a prospective All Team franchisee should carefully review the Processing Agreement to understand their obligations and rights, as well as the circumstances under which the agreement can be transferred or assigned. Understanding these provisions is crucial for the long-term operation and potential sale of the franchise.