SRV.UN.CA Profile & Description — SIR Royalty Income Fund
SIR Royalty is established to acquire directly, certain bank debt of SIR Corp. (SIR) and indirectly, through SIR Holdings Trust, all of the Ordinary LP Units of SIR Royalty Limited Partnership ("the Partnership"). The Partnership owns the Canadian trademarks (the "SIR Rights") formerly owned or licensed by SIR or its subsidiaries and used in connection with the operation of the majority of SIR's restaurants in Canada. The Partnership has granted SIR a 99-year license to use the SIR Rights in most of Canada in consideration for a Royalty, payable by SIR to the Partnership, equal to 6% of the revenue of the restaurants included in the Royalty pool.