In the event of the death of a Bevaris Alliance franchisee, who are the references to the third-party purchaser deemed to be?

According to Bevaris Alliance's 2024 Franchise Disclosure Document, in the event of the death of an individual franchisee, references to a third-party purchaser are deemed to be references to the Franchisor or the beneficiaries of the shares, either in the individual's will or under the rules of intestacy.

This means that upon the death of the franchisee, Bevaris Alliance has the first right to purchase the franchisee's shares. If the beneficiaries of the shares (as designated in the will or by intestacy rules) do not wish to become registered holders of the shares, the references to the third party will then be considered as any other third party specified in the notice by the personal representatives.

This clause ensures a smooth transition of ownership and control in the event of the franchisee's death, prioritizing Bevaris Alliance's right to acquire the shares, followed by the franchisee's designated beneficiaries, and finally, any other third party identified by the personal representatives. This process helps maintain the integrity and standards of the Bevaris Alliance franchise system.