Under the Securitization Management Agreement, what are the primary responsibilities of the manager regarding Cinnabon's assets?
Cinnabon Franchise · 2025 FDDAnswer from 2025 FDD Document
GTFL manages and services the Co-Issuers' and the Guarantors' assets in its capacity as the manager under a management agreement (the "Securitization Management Agreement"). The primary responsibilities of the manager are to administer collections and otherwise manage the managed assets on behalf of the Co-Issuers and the Guarantors, and to perform certain franchising, intellectual property, and operational and reporting services on behalf of the Co-Issuers and the Guarantors with respect to the managed assets (see Note 6).
Source: Item 23 — Receipts (FDD pages 114–399)
What This Means (2025 FDD)
According to Cinnabon's 2025 Franchise Disclosure Document, GTFL manages and services the assets of the Co-Issuers and Guarantors under the Securitization Management Agreement. The primary responsibilities of the manager, GTFL, include administering collections and generally servicing the managed assets on behalf of the Co-Issuers and the Guarantors.
In addition to managing collections, GTFL is also responsible for performing certain franchising, intellectual property, and operational and reporting services. These services are provided on behalf of the Co-Issuers and the Guarantors, specifically concerning the managed assets.
For a prospective Cinnabon franchisee, this means that a significant portion of the brand's asset management and related services are handled by GTFL under this agreement. Understanding the scope and terms of the Securitization Management Agreement could be important for franchisees, as it outlines how key aspects of the franchise system are managed and serviced.