What is the 'Agreement' referring to in the context of the B Bops Personal Guaranty?
B_Bops Franchise · 2025 FDDAnswer from 2025 FDD Document
The undersigned persons hereby represent to B-Bop's Franchising Corp. ("Company") that they are partners or shareholders of the developer ("Developer") entering into the within and foregoing Multiple-Unit Development Agreement (the "Agreement"), of which this Personal Guaranty shall be deemed an integral part.
Source: Item 23 — RECEIPTS (FDD pages 53–145)
What This Means (2025 FDD)
According to B Bops's 2025 Franchise Disclosure Document, the 'Agreement' referenced in the Personal Guaranty of Obligations pertains to the Multiple-Unit Development Agreement. This agreement outlines the development rights granted to the developer by B Bops Franchising Corp.
The personal guaranty is an integral part of the Multiple-Unit Development Agreement. By signing the guaranty, partners or shareholders of the developer agree to be personally bound by the terms, provisions, and conditions of the Agreement. This includes guaranteeing the full and prompt payment of any indebtedness of the developer arising from the Agreement.
Furthermore, the personal guarantors agree not to transfer development rights or ownership interests without complying with Section 13 of the Agreement. They are also bound by the nondisclosure and noncompete covenants within the Agreement and are personally liable for any breaches of the Agreement's provisions, including monetary obligations and obligations to take or refrain from specific actions.