Under what condition is the Financing Agreement deemed null and void for Even Hotels?

According to Even Hotels' 2025 Franchise Disclosure Document, the Financing Agreement between the Hotel and HPFS (presumably a financing entity) will not take effect until the installation and acceptance of the products and services that were ordered. However, the Financing Agreement is deemed null and void if the Joinder Agreement is terminated before the Financing Agreement takes effect.

This means that if the franchisee's relationship with IHG (InterContinental Hotels Group, the parent company of Even Hotels) is terminated before the franchisee has fully accepted the products and services and the financing agreement has come into effect, the financing agreement will be cancelled. This protects the franchisee from being locked into a financing agreement for products or services that they may no longer need or want due to the termination of their franchise agreement.

Once the products and services are accepted and the Financing Agreement takes effect, it becomes an independent agreement between the Hotel and HPFS. At that point, the Financing Agreement is no longer affected by any termination of the Agreement or Joinder Agreement. This means that even if the franchise agreement is terminated later on, the franchisee is still obligated to fulfill the terms of the Financing Agreement with HPFS.