What is the definition of 'Loan Documents' as it pertains to the Promissory Note for Beverly Anns Cookie?

According to Beverly Anns Cookie's 2025 Franchise Disclosure Document, "Loan Documents" are defined within the context of a Promissory Note. Specifically, Loan Documents encompass all documents executed as part of, or in connection with, the loan. This definition is important for prospective franchisees to understand, as it clarifies the scope of documents they will be responsible for reviewing and adhering to when securing financing for their Beverly Anns Cookie franchise.

This definition is found within a sample Promissory Note included as Exhibit H-6 in Item 22 of the FDD, which outlines various contracts related to the Beverly Ann's Cookie franchise. The Promissory Note itself is a commercial, single-advance note, and the definition of "Loan Documents" is provided under Section 1, which covers definitions of terms used in the note. The lender in the sample note is Osgood Bank, and the borrower is John Doe.

For a potential Beverly Anns Cookie franchisee, this means that beyond just the Promissory Note itself, any other agreements, security documents, or disclosures related to the loan are considered Loan Documents. Franchisees should carefully review all such documents to fully understand their obligations and the terms of the loan. This is a standard practice in franchising, as securing financing is a common step for new franchisees, and clarity on the loan's terms and associated documents is crucial.