How does the Beverly Anns Cookie agreement define "Affiliates"?

According to the 2025 Beverly Anns Cookie Franchise Disclosure Document, the term "Affiliates" is defined within the context of an agreement, referencing Rule 144 under the Securities Act of 1933. This definition is found specifically in Exhibit H-5, the Additional Franchise Reservation Agreement.

For a prospective franchisee, this means that the legal definition of "Affiliates" used in the Beverly Anns Cookie franchise agreement is the same definition used in securities law. Rule 144 under the Securities Act of 1933 is a regulation concerning the sale of restricted and control securities, providing an exemption to the registration requirements.

Understanding this definition is crucial because it can impact various aspects of the franchise agreement, including potential transfers, financial disclosures, and compliance requirements. Franchisees should familiarize themselves with Rule 144 or seek legal counsel to fully understand the implications of this definition on their rights and obligations under the franchise agreement.