To what extent is a waiver by the Lender enforceable under the Aerus Guarantee?

According to Aerus's 2025 Franchise Disclosure Document, any waiver by the Lender (Aerus Franchising, LLC) of any right, power, and/or remedy is enforceable only to the extent specifically set forth in writing and signed by an authorized officer of the Lender. This means that verbal agreements or implied waivers through conduct are not binding. Furthermore, a waiver on one occasion does not prevent the Lender from enforcing that right in the future.

This provision protects Aerus by ensuring that any relinquishment of their rights as a lender is clearly documented and intentional. It prevents franchisees from claiming that Aerus waived a right based on past actions or verbal agreements. For a potential Aerus franchisee, this highlights the importance of obtaining any waivers or modifications to the guarantee in writing, signed by an authorized officer of Aerus, to ensure they are enforceable.

This requirement for written waivers is a common practice in franchising and lending agreements, as it provides clarity and legal certainty for both parties. It reduces the risk of misunderstandings or disputes over whether a right was actually waived. The Aerus Guarantee emphasizes that the entire agreement is represented in writing, superseding any prior oral or written communications. This reinforces the need for franchisees to ensure all agreements and waivers are properly documented and signed.

In practical terms, if a franchisee is seeking a modification or waiver of any term within the Guarantee, they must obtain it in writing from Aerus. Relying on verbal assurances or past practices could be risky, as Aerus is only bound by written waivers signed by an authorized officer. This clause ensures that both Aerus and the franchisee have a clear and legally defensible record of any agreed-upon changes to the Guarantee.