Under the All Team agreement, does the definition of 'General Intangibles' include money?

According to All Team's 2025 Franchise Disclosure Document, the definition of 'General Intangibles' within the security agreement explicitly excludes money. The agreement specifies that 'General Intangibles' encompasses any personal property, including things in action, that are not Goods, Accounts, Chattel Paper, Documents, Instruments, or money.

This exclusion of money from the definition of 'General Intangibles' has implications for the security interest that All Team Franchise Corporation (ATFC) takes in the franchisee's assets. It means that ATFC's security interest in 'General Intangibles' does not extend to the franchisee's cash on hand or in bank accounts. This could affect the amount of collateral available to ATFC in the event of a franchisee default.

For a prospective All Team franchisee, this definition clarifies the scope of the security interest they are granting to ATFC. While ATFC will have a security interest in various forms of personal property, including accounts receivable and equipment, their security interest will not extend to the franchisee's monetary assets. This may be a favorable term for the franchisee, as it leaves them with more control over their cash flow. However, franchisees should carefully review the entire security agreement to fully understand the extent of the collateral they are providing to All Team.