How does a Guarantor provide a written termination notice to the Lender for Aerus?
Aerus Franchise · 2025 FDDAnswer from 2025 FDD Document
lt as such term is defined in the Note.
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- Unlimited, Absolute and Unconditional Guaranty. Except as provided in any Rider attached hereto (if applicable), this Guarantee is continuing, unlimited, absolute and unconditional. All Guaranteed Obligations shall be conclusively presumed to have been created in reliance on this Guarantee. Guarantor shall continue to be liable hereunder until one of Lender's officers actually receives a written termination notice from Guarantor sent to Lender at its address set forth above by certified mail, return receipt requested and thereafter as set forth below. Revocation or termination hereof by Guarantor shall not affect, in any manner, the rights of Lender or any obligations or duties of Guarantor under this Guarantee with respect to (i) Guaranteed Obligations which have been created, contracted, assumed or incurred prior to the receipt by Lender of such written notice of revocation or termination as provided herein, including, without limitation, (ii) all amendments, extensions, renewals and modifications of such Guaranteed Obligations (whether or not evidenced by new or additional agreements, documents or instruments executed on or after such notice of revocation or termination), (iii) all interest, fees and similar charges accruing or due on and after revocation or termination, and (iv) all attorneys' fees and legal expenses, costs and other expenses paid or incurred on or after such notice of revocation or termination in attempting to collect or enforce any of the Guaranteed Obligations against Borrower, Guarantor or any other Obligor (whether or not suit be brought), or (v) Guaranteed Obligations which have been created, contracted, assumed or incurred after the receipt by Lender of such written notice of revocation or termination as provided herein pursuant to any contract entered into by Lender prior to receipt of such notice. The sole effect of such revocation or termination by Guarantor shall be to exclude from this Guarantee the liability of Guarantor for those Guaranteed Obligations arising after the date of receipt by Lender of such written notice which are unrelated to Guaranteed Obligations arising or transactions entered into prior to such date. Without limiting the foregoing, this Guarantee may not be terminated and shall continue so long as the Note shall be in effect (whether during its original term or any renewal, substitution or extension thereof).
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- Amendments and Waivers.
Source: Item 23 — Receipts (FDD pages 74–305)
What This Means (2025 FDD)
According to Aerus's 2025 Franchise Disclosure Document, a Guarantor must send a written termination notice to the Lender via certified mail, return receipt requested, to the Lender's address. The termination is only effective when one of the Lender's officers actually receives the notice.
Even after the Lender receives the termination notice, the Guarantor remains responsible for obligations created, contracted, assumed, or incurred before the notice was received. This includes any amendments, extensions, renewals, and modifications of these obligations, as well as any interest, fees, and legal expenses related to collecting or enforcing these obligations. The Guarantor is also liable for obligations arising after the notice if they relate to contracts entered into before the notice.
The termination only excludes the Guarantor's liability for Guaranteed Obligations that arise after the Lender receives the written notice and are unrelated to obligations or transactions predating the notice. The guarantee remains in effect as long as the Secured Promissory Note is active, including any renewals, substitutions, or extensions.
Amendments or waivers to the guarantee must be in writing and signed by an authorized officer of the Lender. This ensures that any changes to the agreement are formally documented and agreed upon by both parties.