Exhibit 99.1
Domino's Pizza Master Issuer LLC
Domino's SPV Canadian Holding Company Inc.
Domino's Pizza Distribution LLC
Domino's IP Holder LLC
Quarterly Noteholders' Statement
Quarterly Collection Period Starting: |
| March 23, 2015 |
Quarterly Collection Period Ending: |
| June 14, 2015 |
Quarterly Payment Date: |
| July 27, 2015 |
Debt Service Coverage Ratios and Senior ABS Leverage |
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| Senior ABS Leverage |
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| Quarterly DSCR |
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| Current Period |
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| 3.83 | x |
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| 4.02 | x | ||||||||
| One Period Prior |
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| 3.92 | x |
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| 4.23 | x | ||||||||
| Two Periods Prior |
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| 4.21 | x |
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| 3.94 | x | ||||||||
| Three Periods Prior |
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| 4.36 | x |
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| 3.70 | x | ||||||||
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System Performance |
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| Domestic |
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| Franchise |
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| Company-Owned |
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| Total Domestic |
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| Open Stores at end of prior Quarterly Collection Period |
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| 4,705 |
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| 379 |
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| 5,084 |
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| Store Openings during Quarterly Collection Period |
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| 22 |
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| - |
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| 22 |
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| Store Transfers during Quarterly Collection Period |
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| 2 |
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| (2 | ) |
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| — |
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| Permanent Store Closures during Quarterly Collection Period |
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| (7 | ) |
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| (1 | ) |
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| (8 | ) | |||||
| Net Change in Open Stores during Quarterly Collection Period |
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| 17 |
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| (3 | ) |
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| 14 |
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| Open Stores at end of Quarterly Collection Period |
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| 4,722 |
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| 376 |
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| 5,098 |
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| International |
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| Franchise |
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| Company-Owned |
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| Total International |
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| Open Stores at end of prior Quarterly Collection Period |
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| 6,655 |
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| — |
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| 6,655 |
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| Store Openings during Quarterly Collection Period |
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| 178 |
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| — |
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| 178 |
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| Permanent Store Closures during Quarterly Collection Period |
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| (6 | ) |
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| — |
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| (6 | ) | |||||
| Net Change in Open Stores during Quarterly Collection Period |
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| 172 |
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| — |
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| 172 |
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| Open Stores at end of Quarterly Collection Period |
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| 6,827 |
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| — |
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| 6,827 |
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| Franchise |
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| Company-Owned |
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| International |
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| Same-Store Sales Growth for Quarterly Collection Period |
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| 12.8 | % |
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| 12.5 | % |
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| 6.7 | % | |||||
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Potential Events |
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| Material Concern |
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| i. Potential Rapid Amortization Event |
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| No |
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| ii. Potential Manager Termination Event |
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| No |
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Cash Trapping | ||||||||||||
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| Date of | ||||||||
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| Commenced |
| Commencement | ||||||||
| i. a. Partial Cash Trapping Period |
| No |
| N/A | |||||||
| b. Full Cash Trapping Period |
| No |
| N/A | |||||||
| ii. Series 2012-1 Cash Trapping Percentage during Quarterly Collection Period |
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| N/A | |||||||
| iii. Series 2012-1 Cash Trapping Percentage following current Quarterly Payment Date |
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| N/A | |||||||
| iv. Series 2012-1 Cash Trapping Percentage during prior Quarterly Collection Period |
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| N/A | |||||||
| v. Series 2012-1 Partial Cash Trapping Release Event |
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| N/A | |||||||
| vi. Series 2012-1 Full Cash Trapping Release Event |
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| N/A | |||||||
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Occurrence Dates | ||||||||||||
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| Date of | ||||||||
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| Commenced |
| Commencement | ||||||||
| i. Rapid Amortization Event |
| No |
| N/A | |||||||
| ii. Default |
| No |
| N/A | |||||||
| iii. Event of Default |
| No |
| N/A | |||||||
| iv. Manager Termination Event |
| No |
| N/A | |||||||
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Non-Amortization Test | ||||||||||||
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| Date of | ||||||||
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| Commenced |
| Commencement | ||||||||
| i. Non-Amortization Period |
| Yes |
| April 27, 2015 | |||||||
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Extension Periods | ||||||||||||
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| Date of | ||||||||
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| Commenced |
| Commencement | ||||||||
| i. Series 2012-1 Class A-1 first renewal period |
| No |
| N/A | |||||||
| ii. Series 2012-1 Class A-1 second renewal period |
| No |
| N/A |
Domino's Pizza Master Issuer LLC
Domino's SPV Canadian Holding Company Inc.
Domino's Pizza Distribution LLC
Domino's IP Holder LLC
Quarterly Noteholders' Statement
Quarterly Collection Period Starting: |
| March 23, 2015 |
Quarterly Collection Period Ending: |
| June 14, 2015 |
Quarterly Payment Date: |
| July 27, 2015 |
Allocation of Funds |
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1. Outstanding Notes and Reserve Account Balances as of Prior Quarterly Payment Date: |
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| i. Outstanding Principal Balances |
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| a. Advances Under Series 2012-1 Class A-1 Notes |
| $ | — |
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| b. Series 2012-1 Class A-2 Notes |
| $ | 1,521,843,750.00 |
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| c. Senior Subordinated Notes |
| $ | — |
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| d. Subordinated Notes |
| $ | — |
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| ii. Reserve Account Balances |
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| a. Available Senior Notes Interest Reserve Account Amount (1) |
| $ | 20,783,992.50 |
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| b. Available Senior Subordinated Notes Interest Reserve Account Amount |
| $ | — |
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| c. Available Cash Trap Reserve Account Amount (1) |
| $ | — |
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2. Retained Collections for Current Quarterly Payment Date: |
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| i. Franchisee Payments |
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| a. Domestic Continuing Franchise Fees |
| $ | 112,559,713.96 |
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| b. International Continuing Franchise Fees |
| $ | 32,943,000.53 |
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| c. Initial Franchise Fees |
| $ | — |
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| d. Other Franchise Fees |
| $ | — |
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| e. PULSE Maintenance Fees |
| $ | 142,826.01 |
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| f. PULSE License Fees |
| $ | 536,370.00 |
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| g. Technology Fees |
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| 5,771,813.28 |
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| h. Franchisee Insurance Proceeds |
| $ | — |
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| i. Other Franchisee Payments |
| $ | — |
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| ii. Company-Owned Stores License Fees |
| $ | 4,741,100.94 |
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| iii. Third-Party License Fees |
| $ | — |
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| iv. Product Purchase Payments |
| $ | 342,970,448.39 |
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| v. Co-Issuers Insurance Proceeds |
| $ | — |
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| vi. Asset Disposition Proceeds |
| $ | — |
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| vii. Excluded Amounts |
| $ | 228,676.77 |
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| viii. Other Collections |
| $ | 126,776.00 |
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| ix. Investment Income |
| $ | 8,783.28 |
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| x. HoldCo L/C Agreement Fee Income |
| $ | 103,892.40 |
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| Less: |
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| xiii. Excluded Amounts |
| $ | 60,117,239.83 |
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| a. Advertising Fees |
| $ | 59,888,563.06 |
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| b. Company-Owned Store Advertising Fees |
| $ | — |
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| c. Third-Party Matching Expenses |
| $ | 228,676.77 |
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| xiv. Product Purchase Payments |
| $ | 342,970,448.39 |
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| xiv. Bank Account Expenses |
| $ | 24,537.86 |
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| Plus: |
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| xvi. Aggregate Weekly Distributor Profit Amount |
| $ | 24,456,995.83 |
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| xvii. Retained Collections Contributions |
| $ | — |
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| xviii. Total Retained Collections |
| $ | 121,478,171.31 |
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3. Adjusted Net Cash Flow for Current Quarterly Payment Date: |
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| i. Retained Collections for Quarterly Collection Period |
| $ | 121,478,171.31 |
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| Less: |
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| ii. Servicing Fees, Liquidation Fees and Workout Fees |
| $ | 78,296.94 |
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| iii. Securitization Entities Operating Expenses paid during Quarterly Collection Period |
| $ | 82,500.00 |
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| iv. Weekly Manager Fee Amounts paid during Quarterly Collection Period |
| $ | 13,575,453.28 |
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| v. Manager Advances Reimbursement Amounts |
| $ | — |
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| vi. PULSE Maintenance Fees |
| $ | 142,826.01 |
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| vii. Technology Fees |
| $ | 5,771,813.28 |
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| viii. Administrative Expenses |
| $ | 25,000.00 |
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| vix. Investment Income |
| $ | 8,783.28 |
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| vx. Retained Collections Contributions, if applicable, received during Quarterly Collection Period |
| $ | — |
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| viii. Net Cash Flow for Quarterly Collection Period |
| $ | 101,793,498.52 |
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| ix. Net Cash Flow for Quarterly Collection Period / Number of Days in Quarterly Collection Period |
| $ | 1,211,827.36 |
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| x. Multiplied by 91 if 52 week fiscal year or 92.75 if 53 week fiscal year |
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| 92.75 |
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| xi. Adjusted Net Cash Flow for Quarterly Collection Period |
| $ | 112,396,987.95 |
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1. Amounts calculated as of the close of business on the last Business Day of the preceding Quarterly Collection Period. |
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Domino's Pizza Master Issuer LLC
Domino's SPV Canadian Holding Company Inc.
Domino's Pizza Distribution LLC
Domino's IP Holder LLC
Quarterly Noteholders' Statement
Quarterly Collection Period Starting: |
| March 23, 2015 |
Quarterly Collection Period Ending: |
| June 14, 2015 |
Quarterly Payment Date: |
| July 27, 2015 |
4. Debt Service / Payments to Noteholders for Current Quarterly Payment Date: |
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| i. Required Interest on Senior and Senior Subordinated Notes |
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| Series 2012-1 Class A-1 Quarterly Interest |
| $ | 169,572.02 |
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| Series 2012-1 Class A-2 Quarterly Interest |
| $ | 19,844,842.50 |
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| Series 2012-1 Senior Subordinated Quarterly Interest |
| $ | — |
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| ii. Required Principal on Senior and Senior Subordinated Notes |
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| Series 2012-1 Class A-2 Quarterly Scheduled Principal |
| $ | 7,875,000.00 |
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| Series 2012-1 Senior Subordinated Scheduled Principal |
| $ | — |
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| iii. Other |
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| Series 2012-1 Class A-1 Quarterly Commitment Fees |
| $ | 70,874.36 |
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| iv. Total Debt Service |
| $ | 27,960,288.88 |
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| v. Other Payments to Noteholders Relating to Notes |
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| Series 2012-1 Subordinated Quarterly Interest |
| $ | — |
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| Series 2012-1 Subordinated Quarterly Scheduled Principal |
| $ | — |
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| Series 2012-1 Class A-1 Quarterly Contingent Additional Interest |
| $ | — |
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| Series 2012-1 Class A-2 Quarterly Contingent Additional Interest |
| $ | — |
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| Senior Subordinated Quarterly Contingent Additional Interest |
| $ | — |
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| Subordinated Quarterly Contingent Additional Interest |
| $ | — |
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5. Aggregate Weekly Allocations to Distribution Accounts for Current Quarterly Payment Date: |
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| i. All available deposits in Series 2012-1 Class A-1 Distribution Account |
| $ | 265,446.38 |
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| ii. All available deposits in Series 2012-1 Class A-2 Distribution Account |
| $ | 19,844,842.50 |
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| iii. All available deposits in Senior Subordinated Distribution Account |
| $ | — |
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| iv. All available deposits in Subordinated Distribution Account |
| $ | — |
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| v. Total on Deposit in Distribution Accounts |
| $ | 20,110,288.88 |
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6. Distributions for Current Quarterly Payment Date: |
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| Series 2012-1 Class A-1 Distribution Account |
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| i. Payment of interest and fees related to Series 2012-1 Class A-1 Notes |
| $ | 265,446.38 |
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| ii. Indemnification and Real Estate Disposition Proceeds Payments to reduce commitments under Series 2012-1 Class A-1 Notes |
| $ | — |
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| iii. Principal payments to Series 2012-1 Class A-1 Notes |
| $ | — |
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| iv. Payment of Series 2012-1 Class A-1 Notes Breakage Amounts |
| $ | — |
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| Series 2012-1 Class A-2 Distribution Account |
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| i. Payment of interest related to Series 2012-1 Class A-2 Notes |
| $ | 19,844,842.50 |
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| ii. Indemnification and Real Estate Disposition Proceeds payments to Series 2012-1 Class A-2 Notes |
| $ | — |
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| iii. Principal payment to Series 2012-1 Class A-2 Notes |
| $ | — |
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| iv. Make-Whole Premium related to Series 2012-1 Class A-2 Notes |
| $ | — |
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| Senior Subordinated Distribution Account |
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| i. Payment of interest related to Senior Subordinated Notes |
| $ | — |
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| ii. Indemnification and Real Estate Disposition Proceeds payments to Senior Subordinated Notes |
| $ | — |
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| iii. Principal payment to Senior Subordinated Notes |
| $ | — |
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| iv. Make-Whole Premium related to Senior Subordinated Notes |
| $ | — |
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| Subordinated Distribution Account |
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| i. Payment of interest related to Subordinated Notes |
| $ | — |
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| ii. Indemnification and Real Estate Disposition Proceeds payments to Subordinated Notes |
| $ | — |
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| iii. Principal payment to Subordinated Notes |
| $ | — |
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| iv. Make-Whole Premium related to Subordinated Notes |
| $ | — |
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| Total Allocations from Distribution Accounts |
| $ | 20,110,288.88 |
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Domino's Pizza Master Issuer LLC
Domino's SPV Canadian Holding Company Inc.
Domino's Pizza Distribution LLC
Domino's IP Holder LLC
Quarterly Noteholders' Statement
Quarterly Collection Period Starting: |
| March 23, 2015 |
Quarterly Collection Period Ending: |
| June 14, 2015 |
Quarterly Payment Date: |
| July 27, 2015 |
7. Senior Notes Interest Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date: |
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| i. Deposits into Senior Notes Interest Reserve Account during Quarterly Collection Period |
| $ | 2,550.00 |
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| ii. Less draws on / releases from Available Senior Notes Interest Reserve Account Amount |
| $ | — |
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| iii. Total Increase (Reduction) of Available Senior Notes Interest Reserve Account Amount |
| $ | 2,550.00 |
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8. Senior Subordinated Notes Interest Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date: |
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| i. Deposits into Senior Subordinated Notes Interest Reserve Account during Quarterly Collection Period |
| $ | — |
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| ii. Less draws on Available Senior Subordinated Notes Interest Reserve Account Amount |
| $ | — |
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| iii. Total Increase (Reduction) of Available Senior Subordinated Notes Interest Reserve Account Amount |
| $ | — |
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9. Cash Trap Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date: |
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| i. Deposits into Cash Trap Reserve Account during Quarterly Collection Period |
| $ | — |
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| ii. Less draws on Available Cash Trap Reserve Account Amount |
| $ | — |
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| iii. Less Cash Trapping Release Amount |
| $ | — |
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| iv. Total Increase (Reduction) of Available Cash Trap Reserve Account Amount |
| $ | — |
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10. Real Estate Disposition Proceeds |
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| i. Aggregate Real Estate Disposition Proceeds as of Prior Quarterly Payment Date |
| $ | — |
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| ii. Aggregate Real Estate Disposition Proceeds as of Current Quarterly Payment Date |
| $ | — |
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11. Scheduled Principal Catch-Up Amounts |
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| i. Series 2012-1 Class A-2 aggregate Scheduled Principal Catch-Up Amounts as of Prior Quarterly Payment Date |
| $ | — |
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| ii. Series 2012-1 Class A-2 aggregate Scheduled Principal Catch-Up Amounts as of Current Quarterly Payment Date |
| $ | 7,875,000.00 |
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12. Outstanding Balances as of Current Quarterly Payment Date (after giving effect to payments to be made on such date): |
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| i. Series 2012-1 Class A-1 Notes |
| $ | 43,495,014.00 |
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| ii. Series 2012-1 Class A-2 Notes |
| $ | 1,521,843,750.00 |
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| iii. Senior Subordinated Notes |
| $ | — |
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| iv. Subordinated Notes |
| $ | — |
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| v. Reserve account balances: |
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| a. Available Senior Notes Interest Reserve Account Amount |
| $ | 20,786,542.50 |
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| b. Available Senior Subordinate Notes Interest Reserve Account Amount |
| $ | — |
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| c. Available Cash Trap Reserve Account Amount |
| $ | — |
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IN WITNESS HEREOF, the undersigned has duly executed and delivered this Quarterly Noteholders' Statement this July 22, 2015. | ||||||||||
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Domino's Pizza LLC as Manager on behalf of the Master Issuer and certain subsidiaries thereto, |
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| by: |
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| Jeffrey D. Lawrence - Treasurer |
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