In the Burger King Security Agreement, what is the Grantor?
Burger_King Franchise · 2025 FDDAnswer from 2025 FDD Document
be waived, altered, modified or amended except by an instrument in writing, duly executed by BKC and Grantor.
- **15.
SUCCESSORS AND ASSIGNS**.
This Security Agreement and all obligations of Grantor hereunder shall be binding upon the successors and assigns of Grantor (including any debtor-inpossession on behalf of Grantor) and shall, together with the rights and remedies of BKC hereunder, inure to the benefit of BKC, all future holders of any instrument evidencing any of the Obligations and their respective successors and assigns.
No sales of participations, other sales, assignments, transfers or other dispositions of any agreement governing or instrument evidencing the Obligations or any portion thereof or interest therein shall in any manner impair the Lien granted to BKC hereunder.
Grantor may not assign, sell, hypothecate or otherwise transfer any interest in or obligation under this Security Agreement.
- **16.
GOVERNING LAW**.
EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN ANY OF THE LOAN DOCUMENTS, IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, THIS SECURITY AGREEMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF FLORIDA APPLICABLE TO CONTRACTS MADE AND PERFORMED IN THAT STATE AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.
Source: Item 23 — RECEIPTS (FDD pages 127–995)
What This Means (2025 FDD)
According to Burger King's 2025 Franchise Disclosure Document, the Security Agreement states that it cannot be waived, altered, modified, or amended except by a written instrument executed by both Burger King Company LLC (BKC) and the Grantor. The Security Agreement and all obligations of the Grantor are binding upon the successors and assigns of the Grantor, including any debtor-in-possession on behalf of the Grantor. These obligations, along with the rights and remedies of BKC, benefit BKC, all future holders of any instrument evidencing any of the obligations, and their respective successors and assigns.
The Grantor is prohibited from assigning, selling, hypothecating, or otherwise transferring any interest in or obligation under the Security Agreement. This restriction ensures that the obligations and responsibilities outlined in the agreement remain with the original party, maintaining the integrity of the security arrangement for Burger King.
The Security Agreement is governed by the laws of the State of Florida, applicable to contracts made and performed in that state, and any applicable laws of the United States of America, except as otherwise expressly provided in any of the loan documents. This ensures that the agreement is construed, validated, and performed in accordance with a specific legal framework, providing clarity and predictability for both Burger King and the Grantor.