What is the process after the Franchisor receives and accepts the notice of Loan assignment for Embassy Suites?
Embassy_Suites Franchise · 2025 FDDAnswer from 2025 FDD Document
On receipt and acceptance of the notice, Franchisor will promptly prepare its then-current form of Assignment and Assumption Agreement ("Assignment") and Lender and Assignee must promptly execute and return the Assignment.
Franchisor may charge a nominal fee for processing the Assignment.
If there is more than one Assignee, the Assignees must (i) designate a single representative to receive notices, negotiate on behalf of and bind each Assignee in connection with this letter agreement and any assignment thereof, and (ii) acknowledge that Franchisor shall be entitled to rely on such designation and deal solely with such representative without the necessity of notifying, negotiating with, or obtaining the consent of, each Assignee.
Source: Item 23 — RECEIPTS (FDD pages 97–305)
What This Means (2025 FDD)
According to the 2025 Embassy Suites Franchise Disclosure Document, after the Franchisor receives and accepts the notice of a loan assignment, Embassy Suites will promptly prepare its then-current form of Assignment and Assumption Agreement. This agreement, referred to as the "Assignment," must then be promptly executed and returned by both the Lender and the Assignee.
Embassy Suites may charge a nominal fee for processing this Assignment. This fee is intended to cover the administrative costs associated with the transfer of the loan and the necessary paperwork.
If there is more than one Assignee involved in the loan, the Assignees are required to designate a single representative. This representative will be responsible for receiving notices, negotiating on behalf of all Assignees, and binding each Assignee in connection with the assignment. Embassy Suites is entitled to rely solely on this designated representative without needing to notify, negotiate with, or obtain consent from each individual Assignee.