Where should payments be made in immediately available funds to MICC for Springhill Suites By Marriott?
Springhill_Suites_By_Marriott Franchise · 2025 FDDAnswer from 2025 FDD Document
Prior to remitting to Company or any of its [members / partners/ shareholders] any remittance amount under the Management Agreement, you are hereby directed to pay to Marriott International Capital Corporation ("MICC") any funds to be otherwise remitted to Company and/or its [members / partners/ shareholders] under the Management Agreement. All payments are to be made to Marriott International Capital Corporation, at 7750 Wisconsin Avenue, Department 52/924.11, Bethesda, Maryland 20814, Attention: Treasury Department, Reference: [property brand and location].
Company knowingly and voluntarily gives the foregoing irrevocable directions to Manager for the benefit of MICC. These directions may not be rescinded, amended or modified without the prior written consent of MICC. Company agrees that these directions do not modify, diminish or affect any of its or any [member's / partner's/ shareholder's] liabilities to MICC.
Source: Item 17 — , "Renewal, Termination, Transfer, and Dispute Resolution," is amended by the addition of the following paragraph(s) at the conclusion of the Item: (FDD pages 285–553)
What This Means (2025 FDD)
According to the 2025 Springhill Suites By Marriott Franchise Disclosure Document, payments in immediately available funds to Marriott International Capital Corporation (MICC) should be made to a specific address. The address is 7750 Wisconsin Avenue, Department 52/924.11, Bethesda, Maryland 20814, and the payments should be directed to the Attention: Treasury Department.
This instruction ensures that all payments due to MICC are directed to the correct department and location for processing. It also allows MICC to apply payments to any obligation of the Obligors under the Equity Pledge in any order that MICC chooses.
It is important to note that any payment received after 2:00 p.m., Washington, D.C. time, will be treated as if it were paid at 9:00 a.m., Washington, D.C. time, on the next Business Day. This stipulation could impact the timing of when payments are credited and should be considered by the franchisee to avoid any late payment issues.
Additionally, MICC may specify a different address in a notice to the members or partners of the Borrower, given in accordance with the terms of the Equity Pledge. Therefore, franchisees should stay informed of any changes to the payment address provided by MICC to ensure timely and accurate payment processing.