What is the Aira Fitness Franchising LLC referred to as in the Guaranty?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
| THIS GUARANTY AND ASSUMPTION OF DEVELOPER'S OBLIGATIONS ("Guaranty") is made as of, 20, in consideration of, and as an inducement to, the execution of the Franchise Agreement by Aira Fitness Franchising LLC, an Illinois limited liability company ("Franchisor"). In consideration thereof, each of the undersigned hereby jointly and severally, personally and unconditionally agrees as follows: |
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Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, in the Guaranty and Assumption of Developer's Obligations, Aira Fitness Franchising LLC is referred to as "Franchisor". This is explicitly stated in the document's introductory paragraph, which identifies Aira Fitness Franchising LLC as "Franchisor" for the purposes of the agreement.
This designation is important because the Guaranty outlines the obligations and responsibilities of the guarantor to Aira Fitness, as the Franchisor. The guarantor essentially promises to ensure the franchisee (referred to as "Developer" in this context) fulfills all financial and performance obligations under the Franchise Agreement.
Therefore, understanding this definition is crucial for anyone acting as a guarantor, as it clarifies to whom the guarantee is being made and highlights the franchisor's rights in the event of a default by the franchisee. The guarantor is making a direct commitment to Aira Fitness to ensure the franchisee's compliance with the Franchise Agreement.