How does the Churchs Chicken sublease define an 'Institutional Lender'?

According to Churchs Chicken's 2025 Franchise Disclosure Document, the sublease agreement defines 'Institutional Lender' to include specific types of financial entities. This definition is important because it clarifies which lenders qualify for certain rights or considerations under the sublease, such as holding an Institutional Mortgage.

Specifically, an Institutional Lender can be a commercial bank, a savings bank, a trust company, or an insurance company. The definition also extends to any investment fund, investment company, finance company, or other entity that extends credit or buys loans as one of its principal businesses. This encompasses a wide range of financial institutions that are commonly involved in real estate lending.

Furthermore, the definition includes any pension, retirement, or welfare fund or other nonprofit organization, provided that the investment policy and financial condition of that fund or organization are subject to the supervision of a state agency. This state agency must be the one that supervises banks or insurance companies in the state where the premises are located. This ensures that the lender is subject to regulatory oversight, adding a layer of security and stability to the lending arrangement. This definition is crucial for determining the rights and obligations of parties involved in the sublease agreement, particularly in the event of a mortgage or transfer of interest.