What is the deadline for an Alloy developer to pay all sums owing to Alloy and its affiliates after termination or expiration?

According to Alloy's 2025 Franchise Disclosure Document, a developer must pay all outstanding sums to Alloy and its affiliates within 30 days of the termination or expiration of the Development Agreement. This obligation is clearly outlined in Item 23, detailing the rights and duties of both parties upon the agreement's conclusion.

This requirement means that upon termination or expiration, an Alloy developer has a limited time frame to settle all financial obligations. This could include unpaid franchise fees, royalties, or any other outstanding debts. Failing to meet this deadline could result in legal action or other penalties as outlined in the agreement.

It is important for prospective Alloy developers to understand this obligation and ensure they have a plan in place to manage their finances accordingly. This includes maintaining accurate records of all payments and understanding the terms of the Development Agreement regarding financial obligations upon termination or expiration. This is a fairly standard clause in franchise agreements, intended to ensure a clean break and protect the franchisor's financial interests.