Under the Chesters EFA, what is the condition for the secured party to lend to Chesters?

According to Chesters's 2025 Franchise Disclosure Document, the Equipment Finance Agreement (EFA) becomes effective once the Debtor (franchisee) signs it. However, the Secured Party's (lender) obligation to fulfill their responsibilities under the EFA is contingent upon their satisfactory receipt of all conditions specified by them. This includes receiving a complete and properly executed documentation package, as determined by the Secured Party.

In simpler terms, while the franchisee's signature initiates the agreement, Chesters's lender is not obligated to provide financing until they are fully satisfied that all required documentation is correctly completed and submitted. This protects the lender by ensuring they have all necessary information and assurances before disbursing funds.

For a prospective Chesters franchisee, this means that signing the EFA is just the first step. It is crucial to meticulously complete all required documentation and meet any other conditions specified by the lender to ensure the financing is secured and the agreement moves forward. Franchisees should proactively communicate with the lender to understand all requirements and address any potential issues promptly to avoid delays in funding.