concessionary

noun

1. one who owns a concession or a franchise

   “1890, Benjamin Harrison, State of the Union Address That Government seized the Delagoa Bay Railway, which was constructed under a concession granted to an American citizen, and at the same time annulled the charter. The concessionary, who had embarked his fortune in the enterprise, having exhausted other means of redress, was compelled to invoke the protection of his Government.”

adj

1. (not-comparable, usually)relating to concessions or franchises
2. (not-comparable, usually)making concessions or compromises

   “I observe indeed a party in the State whose rule it is to consent to no change, until it is clamorously called for, and then instantly to yield; but those are Concessionary, not Conservative principles.”