What is required of the former Developer Entity in a Permitted Transfer for Bigfoot Forestry?

According to Bigfoot Forestry's 2025 Franchise Disclosure Document, in a Permitted Transfer, the former Developer Entity may be required to sign a corporate guarantee. This guarantee would be in a format required by Bigfoot Forestry to secure the performance of the new Developer Entity's financial obligations under all Definitive Agreements, but only if the Permitted Transfer results in a new Developer Entity.

Additionally, both the former Developer Entity and the transferee must sign all documents that Bigfoot Forestry reasonably requests to complete and document the Permitted Transfer. The FDD also states that the area developer must give Bigfoot Forestry at least 10 days' prior notice of the transfer.

It is important to note that a "Permitted Transfer" is defined specifically as a transfer (a) between existing Owners; (b) by the Owners to a new Developer Entity for which such Owners collectively own and control 100% of the Equity Interests; or (c) of less than 20% of the Equity Interests in the Development Business or Developer Entity; provided, however, that a Permitted Transfer does not include any Transfer that results in the Managing Owner owning less than 20% of the Equity Interests in the Development Business or Developer Entity.