Is the guarantor of the All States M.E.D. franchise agreement personally liable for the franchisee's breach?

According to the 2024 All States M.E.D. Franchise Disclosure Document, any individual or entity holding a legal or beneficial interest of 5% or greater in the franchisee is required to execute an Unlimited Guaranty and Assumption of Obligations. By signing this guaranty, such holders agree to assume and discharge all of the franchisee's obligations under the Franchise Agreement and to be personally liable for all of the same. This means that if the franchisee breaches the agreement, the guarantor is personally responsible for fulfilling the franchisee's obligations, including monetary obligations or specific actions required by Sections 6, 7, and 17 of the agreement.

The guarantor also waives certain rights, including the right to require All States M.E.D. to first pursue action against the franchisee before seeking recourse from the guarantor. The guarantor's liability is joint and several, meaning All States M.E.D. can pursue action against any or all guarantors to fulfill the obligations. The guarantor's obligations are not contingent upon All States M.E.D. pursuing remedies against the franchisee and will not be affected by any extensions of time or credit that All States M.E.D. may grant to the franchisee.

This guaranty represents the entire agreement between the parties regarding the subject matter and supersedes any prior agreements. The guaranty is binding upon the guarantor and their heirs, and the guarantor's death does not revoke or affect the guaranty, meaning the guarantor's estate remains liable for any obligations arising after their death. The agreement is governed by the internal laws of All States M.E.D.'s state of formation.