factual

Does the Aerus guarantor consent to the taking, exchange, surrender, and releasing of collateral?

Aerus Franchise · 2025 FDD

Answer from 2025 FDD Document

(a) Notice of acceptance of this Guarantee, the making of loans and advances and providing other financial accommodations to Borrower and presentment, demand, protest, notice

of protest, notice of nonpayment or default and all other notices to which Borrower or Guarantor is entitled are hereby waived by Guarantor. Guarantor also waives notice of and hereby consents to, (iii) any amendment, modification, supplement, extension, renewal, or restatement of the Note and any of the other Financing Agreements, including, without limitation, extensions of time of payment of or increase or decrease in the amount of any of the Guaranteed Obligations, interest rate, fees, other charges, or any collateral, and the guarantee made herein shall apply to the Note and the other Financing Agreements and the Guaranteed Obligations as so amended, modified, supplemented, renewed, restated or extended, increased or decreased, (iv) the taking, exchange, surrender and releasing of collateral or guarantees now or at any time held by or available to Lender for the obligations of Borrower or any other party at any time liable on or in respect of the Guaranteed Obligations or who is the owner of any property which is security for the Guaranteed Obligations (individually, an "Obligor" and collectively, the "Obligors"), (v) the exercise of, or refraining from the exercise of any rights against Borrower or any other Obligor or any collateral and (vi) the settlement, compromise or release of, or the waiver of any default with respect to, any of the Guaranteed Obligations. Guarantor agrees that the amount of the Guaranteed Obligations shall not be diminished and the liability of Guarantor hereunder shall not be otherwise impaired or affected by any of the foregoing.

Source: Item 23 — Receipts (FDD pages 74–305)

What This Means (2025 FDD)

According to Aerus's 2025 Franchise Disclosure Document, the guarantor consents to the taking, exchange, surrender, and releasing of collateral. Specifically, the guarantor waives notice of and consents to several actions regarding the financial agreements.

The guarantor's consent extends to any amendment, modification, supplement, extension, renewal, or restatement of the Note and any of the other Financing Agreements. This includes changes to the payment schedule, interest rates, fees, other charges, or any collateral involved. The guarantee applies to the Note and other Financing Agreements even with these changes.

Furthermore, the guarantor consents to the taking, exchange, surrender, and releasing of collateral or guarantees held by the lender for the obligations of the borrower or any other party liable for the Guaranteed Obligations. This also includes consenting to the exercise of, or refraining from the exercise of any rights against the borrower, any other obligor, or any collateral. The guarantor also consents to the settlement, compromise, or release of, or the waiver of any default concerning, any of the Guaranteed Obligations. The guarantor agrees that the amount of the Guaranteed Obligations will not be diminished, and their liability will not be impaired by any of these actions.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.