Are the Guarantors jointly and severally liable under the Aira Fitness 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: |
|---|
| 1. |
| Guaranty. |
| Guarantor(s) hereby unconditionally and absolutely warrants and |
| guarantees to Franchisor that ("Developer") shall punctually pay and perform in full |
| each and every undertaking, agreement and covenant set forth in the Franchise Agreement; |
| 3. |
| Nature of Guaranty. |
| This Guaranty is an original and independent obligation of |
| Guarantor(s), separate and distinct from Developer's obligations to Franchisor under the Multi-Unit |
| Development |
| Agreement. The obligations of Guarantor to Franchisor under this Guaranty are direct |
| and primary, regardless of the validity or enforceability of the Franchise Agreement. This Guaranty is |
| for the benefit of Franchisor and is not for the benefit of any third party. This Guaranty shall continue |
| until all obligations of Guarantor to Franchisor under this Guaranty have been performed in full. |
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, the Guaranty signed by the guarantors is made in consideration of the execution of the Franchise Agreement by Aira Fitness Franchising LLC. Each guarantor jointly and severally, personally and unconditionally agrees to the terms outlined in the Guaranty.
This means that if there are multiple guarantors, Aira Fitness can pursue any one or all of them for the full amount of the obligation. This is a significant point for potential guarantors, as they are not only responsible for their portion of the debt but also for the entire debt if the other guarantors cannot or do not pay.
The Guaranty is an independent obligation of the guarantor, separate from the developer's obligations. The obligations of the guarantor to Aira Fitness are direct and primary, regardless of the validity or enforceability of the Franchise Agreement. The guaranty remains in effect until all obligations of the guarantor to Aira Fitness have been fully performed.