Does the Three-Party Agreement for Hawthorn Suites By Wyndham grant the Lender any rights?

According to Hawthorn Suites By Wyndham's 2025 Franchise Disclosure Document, the Three-Party Agreement does grant the Lender certain rights related to the franchise agreement as part of the collateral security for its loan to the franchisee. Specifically, the Lender desires to be granted certain rights in respect of the Franchise Agreement as part of the collateral security for its loan. The franchisee has requested that Hawthorn Suites Franchising, Inc. consent to the conveyance of a security interest in the Franchise Agreement and grant certain other rights to Lender. Hawthorn Suites Franchising, Inc. will issue its consent to the collateral assignment of the Franchise Agreement and will grant such rights subject to the terms and conditions of this Agreement and the undertakings by Lender and Franchisee set forth below.

This agreement is made among the Lender, Franchisee, and Franchisor (Hawthorn Suites Franchising, Inc.). The agreement states that the Franchise Agreement and certain ancillary agreements related to the Franchise Agreement are collectively referred to as the "Primary Agreements." The franchisee operates the Facility as a Hawthorn Suites By Wyndham franchised location, and capitalized terms used and not defined in this Agreement shall have the meanings given to them in the Franchise Agreement.

The Three-Party Agreement outlines the conditions under which Hawthorn Suites By Wyndham consents to the franchisee's use of the franchise agreement as collateral for a loan. It also specifies the rights and obligations of the lender, franchisee, and franchisor, creating a legally binding framework for the lending relationship within the context of the franchise system. This agreement ensures that all parties are aligned and that the lender has certain protections in place, while also safeguarding the integrity of the Hawthorn Suites By Wyndham franchise.