What is included in Exhibit B regarding the Guarantor's obligations to Amerispec Inspection Services franchisees?
Amerispec_Inspection_Services Franchise · 2025 FDDAnswer from 2025 FDD Document
FDD EXHIBIT B
FINANCIAL STATEMENTS AND GUARANTY
(See attached).
Form E - Guarantee of Performance
GUARANTEE OF PERFORMANCE
For value received, TCB Services HoldCo, LLC, a Delaware limited liability company (the "Guarantor"), located at 3060 Peachtree Road, NW, Suite 201, Atlanta, Georgia 30305 absolutely and unconditionally guarantees to assume the duties and obligations of TCB AmeriSpec, LLC, located at 57 Germantown Court, Suite 201, Cordova, Tennessee 38018 (the "Franchisor"), under its franchise registration in each state where the franchise is registered, and under its Franchise Agreement identified in its AmeriSpec Inspection Services Franchise Disclosure Document, as it may be amended, and as that Franchise Agreement may be entered into with franchisees and amended, modified or extended from time to time. This guarantee continues until all such obligations of the Franchisor under its franchise registrations and the Franchise Agreement are satisfied or until the liability of Franchisor to its franchisees under the Franchise Agreement has been completely discharged, whichever first occurs. The Guarantor is not discharged from liability if a claim by a franchisee against the Franchisor remains outstanding. Notice of acceptance is waived. The Guarantor does not waive receipt of notice of default on the part of the Franchisor. This guarantee is binding on the Guarantor and its successors and assigns.
Signed at MEMPHTS , TENNESSEE , on APRI 30, 2025 [Insert City Above] [Insert State Above] [Insert Date Above]
Guarantor:
TCB Services HoldCo, LLC
Title: Chief Executive Officer
TCB Services HoldCo, LLC and Subsidiaries
Independent Auditor's Report and Consolidated Financial Statements
December 31, 2024 and 2023
TCB Services HoldCo, LLC and Subsidiaries Contents December 31, 2024 and 2023
Source: Item 21 — Financial Statements (FDD page 46)
What This Means (2025 FDD)
According to Amerispec Inspection Services' 2025 Franchise Disclosure Document, Exhibit B includes financial statements and a guaranty. Specifically, it contains a Guarantee of Performance where TCB Services HoldCo, LLC, the Guarantor, absolutely and unconditionally guarantees to assume the duties and obligations of TCB AmeriSpec, LLC, the Franchisor. This obligation extends to the franchise registration in each state where the franchise is registered and under its Franchise Agreement identified in its AmeriSpec Inspection Services Franchise Disclosure Document, as it may be amended.
This guarantee remains in effect until all obligations of Amerispec Inspection Services under its franchise registrations and the Franchise Agreement are satisfied, or until the liability of the Franchisor to its franchisees under the Franchise Agreement has been completely discharged, whichever occurs first. The Guarantor's liability is not discharged even if a franchisee's claim against the Franchisor remains outstanding, and notice of acceptance is waived. However, the Guarantor does not waive receipt of notice of default on the part of the Franchisor. This guarantee is binding on the Guarantor and its successors and assigns.
In simpler terms, this means that TCB Services HoldCo, LLC is promising to step in and fulfill Amerispec Inspection Services' financial and legal responsibilities to its franchisees if Amerispec Inspection Services is unable to do so. This provides an additional layer of security for franchisees, as another entity is guaranteeing the franchisor's performance. The inclusion of financial statements suggests further transparency regarding the financial health of the guarantor, allowing prospective franchisees to assess the guarantor's ability to meet its obligations. The document is signed on April 30, 2025, in Memphis, Tennessee.