<<The first condition is being waived by Silverpoint. They do not mind acquiring whole franchises. They just refuse to let their cash be paid out.>>
...wait maybe you have a point. question: say they acquire a franchisee, what is the that franchisee's creditor status vis-a-vis silver point assuming they are secured. is their debt secured only by the assets by which they were initially secured? (i.e. real estate and equipment) or do they now have a status equal to silver point. or even...equal to Wells Fargo Foothill's first lien (i.e. ever higher priority than SP). Or do the acquired franchisee's assets stay segregated.
And if they do stay segragated, which would mean there's nothing to orry about, well, isn't some kind of trustee gonna have to block krispy from tpuching or selling off these assets or terminating leases? is it not a creditor commitee that will decide what to do with these collateral assets, as oposed to cooper? if so, why would cooper acquire them to execute what you claim he will execute if he's not in aa position to execute it?