Does the definition of 'Interested Party' for Chatime include persons with an indirect interest in the Developer?

According to Chatime's 2025 Franchise Disclosure Document, the definition of 'Owners' includes those with direct or indirect interests in the Developer. Specifically, 'Owners' are defined as all Persons holding Ownership Interests exceeding 10% of the total Ownership Interests in Developer and all Persons who have other direct or indirect interests in Developer or this Agreement.

This definition extends beyond just direct ownership. It encompasses anyone with a stake in the Developer's operations or the agreement itself, regardless of whether their interest is held directly or through another entity. This broad definition is important because it means that Chatime considers not only the direct owners but also those who might exert influence or benefit from the Development Business.

For a prospective Chatime franchisee, this means that if you have any individual or entity with a significant stake (over 10% ownership) or any other form of direct or indirect interest in your Development Business, Chatime will consider them an 'Owner'. This could trigger certain obligations or requirements from Chatime, such as requiring these individuals to enter into confidentiality and non-competition agreements. Therefore, it's crucial to disclose all parties with any form of interest in the Development Business to Chatime during the application process.