Does Canopy Lawn Care intend to sell, assign, or discount the Note to any third party?

According to Canopy Lawn Care's 2025 Franchise Disclosure Document, Canopy Lawn Care does not intend to sell, assign, or discount the Promissory Note to any third party. This Note may be used if Canopy Lawn Care offers financing to qualifying existing franchisees, where they may finance up to 80% of the franchise fee for up to 24 months. The interest rate will be 4 percentage points above the prime interest rate on the effective date of the Franchise Agreement.

This means that if a franchisee is offered and accepts financing directly from Canopy Lawn Care and signs the Promissory Note, they can expect that Canopy Lawn Care will retain the Note and manage the repayment process themselves. Canopy Lawn Care states that they have not in the past and do not currently intend to transfer the debt to another entity.

This can be beneficial for franchisees as it provides a level of stability and direct communication with Canopy Lawn Care regarding their financing. It also means that Canopy Lawn Care will handle any compliance with laws governing direct financing, including the California Finance Lenders Law, if applicable.