Who is required to execute the form of undertaking and guarantee at the end of the Aira Fitness agreement?

According to the 2025 Aira Fitness Franchise Disclosure Document, the following individuals and entities must execute the form of undertaking and guarantee at the end of the franchise agreement: all owners of a franchisee that is a corporation, limited liability company, partnership, or other legal entity. Additionally, any person or entity that becomes an owner after the agreement date, as per Section 11 or other provisions, must also execute this form.

In cases where no individual meets the definition of 'Owner,' Aira Fitness will designate which owners must provide the guarantee. This requirement ensures that Aira Fitness has recourse to specific individuals or entities who are financially responsible for the franchisee's obligations.

For a prospective Aira Fitness franchisee, this means that if the franchise is owned by a business entity, all owners of that entity must sign a guarantee, making them personally liable for the franchise's performance. This is a common practice in franchising, as it provides the franchisor with added security and ensures that those with a financial stake in the franchise are committed to its success. It is important for potential franchisees to understand the implications of signing a guarantee, as it can have significant personal financial consequences.