To what address should the guarantor send notice to Sunoco to revoke the Aplus Guaranty for Aplus?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
GUARANTOR agrees that in order to revoke this Guaranty, GUARANTOR shall send notice to SUNOCO by certified mail or overnight delivery to the following address: Sunoco Retail LLC, 3805 West Chester Pike, Newtown Square, PA, Attn: Steve Jones.
Such revocation shall apply only to such agreements, leases, extensions of credit, or other indebtedness or obligations entered into or created at least ten (10) days after the date of receipt of such notice of revocation, and shall not apply to Indebtedness thereafter becoming due and payable under agreements, leases, sales or other obligations entered into prior to such revocation.
Any payments made after receipt of such notice of revocation shall be applied as Sunoco may elect.
Source: Item 23 — RECEIPT (FDD pages 68–302)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, if a guarantor wishes to revoke the Aplus Guaranty, they must send a notice to Sunoco via certified mail or overnight delivery. The notice should be sent to the following address: Sunoco Retail LLC, 3805 West Chester Pike, Newtown Square, PA, and should be addressed to the attention of Steve Jones.
It is important to note that the revocation of the Guaranty will only apply to agreements, leases, extensions of credit, or other indebtedness or obligations entered into or created at least ten (10) days after Sunoco receives the revocation notice. This means that the guarantor will remain responsible for any obligations incurred before this ten-day period. Additionally, the revocation does not apply to indebtedness that becomes due and payable under agreements, leases, sales, or other obligations entered into prior to the revocation.
Furthermore, any payments made after Sunoco receives the revocation notice will be applied as Sunoco may elect. This gives Sunoco the flexibility to allocate payments in a way that best protects its interests. Therefore, it is crucial for the guarantor to understand the implications of revoking the Guaranty and to seek legal advice if necessary.