Under the Auntie Annes Guaranty, who is the 'Franchisor' defined as?

According to Auntie Anne's 2024 Franchise Disclosure Document, the Guaranty of Payment and Performance defines the 'Franchisor' as Auntie Anne's Franchisor SPV LLC, a Delaware limited liability company. This definition is crucial within the context of the Guaranty, as it clarifies the specific legal entity to which the guarantor is providing assurance of payment and performance.

For a prospective Auntie Anne's franchisee, this means that the financial and performance obligations are guaranteed to Auntie Anne's Franchisor SPV LLC. Should the franchisee default on their obligations, this entity is the one that the guarantor will be liable to. This is a standard practice in franchising, ensuring that there is a clearly defined party to enforce the terms of the franchise agreement.

The guarantor should take note of the franchisor's specific legal structure (a Delaware limited liability company) as it may have implications for liability and legal proceedings. Understanding this definition helps all parties involved recognize their rights and responsibilities under the Guaranty, ensuring clarity and legal enforceability.