What are the interest payment due dates for the Series 2018-1 Class A-2 Notes for Carls?
Carls Franchise · 2024 FDDAnswer from 2024 FDD Document
The interest payments for the Series 2018-1 Class A-2 Notes are due quarterly in arrears on the 20th day of each March, June, September and December.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 79–80)
What This Means (2024 FDD)
According to Carls's 2024 Franchise Disclosure Document, the interest payments for the Series 2018-1 Class A-2 Notes are structured to be paid quarterly. These payments are made in arrears, meaning they cover the interest accrued in the preceding quarter.
The specific dates for these interest payments are the 20th day of March, June, September, and December. This schedule provides clarity on when Carls is obligated to make these payments, allowing for financial planning and budgeting.
Carls issued the Series 2018-1 Class A-2 Notes in three tranches with different interest rates and anticipated repayment dates. While one tranche was paid down in 2020, other series of notes remain outstanding, all following the same quarterly interest payment schedule.