Does the Itan definition of 'Equity Interest' include voting rights?

According to Itan's 2025 Franchise Disclosure Document, the definition of 'Equity Interest' does include voting rights. Specifically, the document defines 'Equity Interest' as a direct or indirect ownership or beneficial interest in the capital stock of, partnership or membership interest in, or other equity, ownership or beneficial interest in a business or Entity, which includes voting rights.

This means that when Itan refers to 'Equity Interest,' it encompasses not only financial stakes in the business but also the rights to influence the company's decisions through voting. This is a common definition in franchise agreements, as it allows the franchisor to maintain control over who has significant influence within a franchise location.

For a prospective Itan franchisee, this definition is important because it clarifies the scope of ownership and control that Itan considers relevant for various purposes, such as transfers, approvals, and restrictions. It also means that any transfer of ownership, whether direct or indirect, that includes voting rights, is subject to the franchisor's approval, as outlined in the franchise agreement.