Does Anytime Fitness, LLC guarantee Basecamp Fitness' obligations under the Development Agreement?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
| limitation the dispute resolution provisions of the Agreement. | In consideration of the execution of the Area Development Agreement (the "Agreement") between BASECAMP FITNESS FRANCHISOR LLC ("we" or "us" or "our") and [INSERT LEGAL NAME OF DEVELOPER] (the "Developer"), dated, and for other good and valuable consideration, the undersigned, for themselves, their heirs, successors, and assigns, do jointly, individually and severally hereby become surety and guarantor for the payment of all amounts and the performance of the covenants, terms and conditions in the Agreement, to be paid, kept and performed by the Developer, including without |
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| identical terms and conditions of the Agreement. | Further, the undersigned, individually and jointly, hereby agree to be personally bound by each and every condition and term contained in the Agreement and agree that this Personal Guaranty will be construed as though the undersigned and each of them executed an Area Development Agreement containing the The undersigned waives: (1) notice of demand for payment of any indebtedness or nonperformance of any obligations hereby guaranteed; (2) protest and notice of default to any party respecting the indebtedness or nonperformance of any obligations hereby guaranteed; and (3) any right he/she may have to require that an action be brought against the Developer or any other person as a condition of liability; and (4) notice of any changes permitted by the terms of the Agreement or agreed to by the Developer. |
| Developer with or without the undersigned receiving notice thereof. | In addition, the undersigned consents and agrees that: (1) the undersigned's liability will be joint and several and will not be contingent or conditioned upon our pursuit of any remedies against the Developer or any other person; (2) such liability will not be diminished, relieved or otherwise affected by the Developer's insolvency, bankruptcy or reorganization, the invalidity, illegality or unenforceability of all or any part of the Agreement, or the amendment or extension of the Agreement with or without notice to the undersigned; and (3) this Personal Guaranty will apply in all modifications to the Agreement of any nature agreed to by It is further understood and agreed by the undersigned that the provisions, covenants and conditions of this Personal Guaranty will inure to the benefit of our successors and assigns. |
| DEVELOPER: [INSERT LEGAL NAME OF DEVELOPER] | |
| PERSONAL GUARANTORS: | |
| - Individually | |
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Source: Item 21 — FINANCIAL STATEMENTS (FDD page 61)
What This Means (2025 FDD)
Based on the 2025 Basecamp Fitness Franchise Disclosure Document, Anytime Fitness, LLC is not mentioned as a guarantor of Basecamp Fitness' obligations under the Development Agreement. However, the FDD states that the developer is required to provide a personal guarantee. Specifically, the developer and their heirs, successors, and assigns must act as surety and guarantor for the payment of all amounts and the performance of all terms and conditions within the Area Development Agreement. This includes being personally bound by every term and condition in the agreement.
This personal guarantee means that the individual developer is on the hook for the financial and operational obligations of the development agreement. The guarantor waives certain rights, including notice of demand for payment, protest of default, and the requirement to pursue action against the developer before seeking recourse from the guarantor. This protects Basecamp Fitness Franchisor LLC by ensuring they can seek immediate recourse from the personal guarantors should the developer fail to meet their obligations.
The personal guarantee extends to modifications of the agreement and remains in effect even if the developer becomes insolvent or bankrupt. This provision ensures that Basecamp Fitness's interests are protected throughout the term of the agreement, regardless of the developer's financial status or any changes made to the agreement. The personal guarantee benefits Basecamp Fitness Franchisor LLC's successors and assigns, providing long-term security for the franchise system.