Under the Angry Chickz Continuing Guaranty, what specific notices is the guarantor waiving?
Angry_Chickz Franchise · 2025 FDDAnswer from 2025 FDD Document
4.1 Without limiting the generality of any other provision of this Continuing Guaranty, Guarantor expressly waives: (i) notice of the acceptance by Franchisor of this Continuing Guaranty; (ii) notice of the existence, creation, payment, nonpayment, performance or nonperformance of all or any of the Obligations; (iii) presentment, demand, notice of dishonor, protest, notice of protest and all other notices whatsoever with respect to the payment or performance of the Obligations or the amount thereof or any payment or performance by Guarantor under this Agreement; (iv) all diligence in collection or protection of or realization upon the Obligations or any thereof, any obligation under this Agreement or any security for or guaranty of any of the foregoing; (v) any right to direct or affect the manner or timing of Franchisor's enforcement of its rights or remedies; (vi) any and all defenses which would otherwise arise upon the occurrence of any event or contingency described in Paragraph 1 hereof or upon the taking of any action by Franchisor permitted under this Agreement; (vii) any defense, right of set-off, claim or counterclaim whatsoever and any and all other rights, benefits, protections and other defenses available to Guarantor now or at any time hereafter, including, without limitation, under any suretyship statute of the State of California or where the guarantor is domiciled; and (viii) all other principles or provisions of law, if any, that conflict with the terms of this Continuing Guaranty, including, without limitation, the effect of any circumstances that may or might constitute a legal or equitable discharge of a guarantor or surety.
4.2 Guarantor waives all rights and defenses arising out of an election of remedies by Franchisor.
4.3 Guarantor further waives all rights to revoke this Continuing Guaranty at any time, and all rights to revoke any agreement executed by Guarantor at any time to secure the payment and performance of Guarantor's obligations under this Continuing Guaranty.
Source: Item 22 — CONTRACTS (FDD page 54)
What This Means (2025 FDD)
According to Angry Chickz's 2025 Franchise Disclosure Document, the Continuing Guaranty requires the guarantor to waive several specific notices. This waiver means the guarantor will not receive notifications about various aspects of the franchisee's obligations and the franchisor's actions.
The guarantor waives notice of Angry Chickz's acceptance of the Continuing Guaranty, meaning they won't be informed when the franchisor formally accepts the guaranty. They also waive notice of the existence, creation, payment, nonpayment, performance, or nonperformance of any obligations related to the franchise agreement. This includes waiving presentment, demand, notice of dishonor, protest, notice of protest, and all other notices regarding payment or performance of obligations, or any payment or performance by the guarantor.
Furthermore, the guarantor waives all diligence in the collection, protection, or realization of obligations, any obligation under the agreement, or any security for or guaranty of the foregoing. They also waive any right to direct or affect how Angry Chickz enforces its rights or remedies. The guarantor also waives defenses that would arise from events described in Paragraph 1 of the guaranty or from actions taken by Angry Chickz under the agreement.
Finally, the guarantor waives any defense, right of set-off, claim, or counterclaim, and all other rights, benefits, protections, and defenses available to them, including those under suretyship statutes. They also waive all other principles or provisions of law that conflict with the terms of the Continuing Guaranty, including circumstances that might discharge a guarantor or surety. The guarantor also waives all rights and defenses arising from Angry Chickz's election of remedies and all rights to revoke the Continuing Guaranty or any related agreement.