Can Bigfoot Forestry exercise a right of first refusal regarding the transfer of a Bigfoot Forestry franchise?

According to the 2025 Bigfoot Forestry Franchise Disclosure Document, Bigfoot Forestry has the right of first refusal regarding the transfer of a franchise. Specifically, Bigfoot Forestry can choose to exercise this right as described in section 7.5 of the agreement. However, this right does not apply to a Permitted Transfer.

For a standard transfer to proceed, Bigfoot Forestry must choose not to exercise its right of first refusal. Additionally, both the transferring party and the transferee must meet all other conditions that Bigfoot Forestry reasonably requires for approval of the transfer.

A "Permitted Transfer" is defined as a transfer between existing owners, a transfer to a new Developer Entity where the owners maintain 100% ownership and control, or a transfer of less than 20% of the Equity Interests in the Development Business or Developer Entity, provided that the Managing Owner retains at least 20% ownership. In these cases, Bigfoot Forestry's right of first refusal does not apply, but the franchisee must still provide 10 days' prior notice.