What rights does the Secured Party have regarding the Collateral of a Bath Tune Up franchise?

According to the 2025 Bath Tune Up Franchise Disclosure Document, the Secured Party has specific rights regarding the collateral. The Secured Party has the right to verify the validity and amount of the accounts at any time, using their own name or the name of a nominee. This allows the Secured Party to ensure the accuracy and legitimacy of the financial records related to the Bath Tune Up franchise.

This verification can be conducted at any time, providing the Secured Party with ongoing oversight of the accounts. The Secured Party can act either directly or through a designated representative, offering flexibility in how they manage and monitor the collateral. This right helps protect the Secured Party's interests by allowing them to proactively assess the financial health of the franchise and address any potential discrepancies or issues.

For a prospective Bath Tune Up franchisee, this means that their financial records and accounts are subject to scrutiny by the Secured Party. It is important to maintain accurate and transparent accounting practices to avoid any issues during verification. Understanding the Secured Party's rights and responsibilities is crucial for a franchisee to ensure compliance and maintain a positive working relationship with the Secured Party.