What is the name of the Franchise Agreement that the Collateral Assignment of Lease refers to for Aw?

According to Aw's 2025 Franchise Disclosure Document, the Collateral Assignment of Lease is related to the Papa Ray's Pizza & Wings Franchise Agreement. Specifically, Exhibit 3 is the Collateral Assignment of Lease, and it is explicitly identified as an exhibit "TO THE FRANCHISE AGREEMENT". This indicates a direct legal connection between the lease assignment and the overall franchise agreement.

For a prospective Aw franchisee, this means that the Collateral Assignment of Lease is not a standalone document but is an integral part of the franchise agreement. The franchisee's rights and obligations under the lease are intertwined with the terms and conditions of the Papa Ray's Pizza & Wings Franchise Agreement. This ensures that Aw has certain protections and control over the leased premises where the restaurant operates.

This arrangement is fairly common in franchising, as franchisors often want to ensure that the location of the franchise remains secure and under their influence, even if the franchisee defaults or the agreement is terminated. By having a Collateral Assignment of Lease, Aw can step in and take over the lease if necessary, ensuring business continuity and protecting the brand's presence in that location.