Does the Beehive Homes Guaranty include any exceptions to the Guarantor's obligations?
Beehive_Homes Franchise · 2025 FDDAnswer from 2025 FDD Document
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- Waivers of Certain Rights and Defenses. Each Guarantor waives: (a) any right or claim that Guarantor may have to require that an action be brought against Franchisee or any other person as a condition of Guarantor's liability under this Guaranty; (b) all rights to payments and claims for reimbursement or subrogation which any of the undersigned may have against Franchisee arising as a result of Guarantor's execution of and performance under this Guaranty; (c) any law or statute which requires that Franchisor make demand on, assert claims against or collect from Franchisee or any others, foreclose any security interest, sell collateral, exhaust any remedies or take any other action against Franchisee or any others before making any demand on, collecting from or taking any action against Guarantor under or with respect to this Guaranty; (d) any right or claim Guarantor may have that a release or discharge of Franchisee under the Franchise Agreement is a release or discharge of Guarantors under the Franchise Agreement or this Guaranty; and (e) any and all other notices and legal or equitable defenses to which Guarantor may be entitled.
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- Each of the Guarantors covenants and agrees as follows:
a.
Each Guarantor shall be bound by each and every condition and term contained in the Franchise Agreement, including, but not by way of limitation, all promises, covenants, representations and warranties of Franchisee, as though each Guarantor were a party to the Franchise Agreement, specifically, but not by way of limitation, the provisions of the Franchise Agreement relating to Confidential Information and Restrictive Covenants.
This Guaranty shall continue in favor of Franchisor notwithstanding any extension, modification, alteration, renewal, termination or expiration of the Franchise Agreement, and notwithstanding any assignment of the Franchise Agreement, with or without the Franchisor's consent.
No extension, modification, alteration, renewal, termination, expiration or assignment of the Franchise Agreement shall in any manner release or discharge the Guarantors, and each of the Guarantors consents to any such extension, modification, alteration, renewal, termination, expiration or assignment.
- b.
Source: Item 23 — RECEIPTS (FDD pages 34–123)
What This Means (2025 FDD)
According to Beehive Homes' 2025 Franchise Disclosure Document, the Guaranty includes waivers of certain rights and defenses by the Guarantor. Each Guarantor waives any right to require action against the Franchisee or any other person as a condition of their liability. They also waive rights to payments and claims for reimbursement or subrogation against the Franchisee resulting from their performance under the Guaranty.
Furthermore, the Guarantor waives any law or statute requiring Beehive Homes to demand payment from the Franchisee before taking action against the Guarantor. The Guarantor also relinquishes any claim that a release or discharge of the Franchisee releases the Guarantors. Finally, the Guarantor waives any and all other notices and legal or equitable defenses to which they may be entitled.
Additionally, each Guarantor agrees to be bound by every condition and term in the Franchise Agreement, including promises, covenants, representations, and warranties of the Franchisee, as if they were a party to the Franchise Agreement. This includes provisions related to Confidential Information and Restrictive Covenants. The Guaranty remains in effect even with any extension, modification, alteration, renewal, termination, or expiration of the Franchise Agreement, or any assignment of the Franchise Agreement, regardless of Beehive Homes' consent. No changes to the Franchise Agreement will release or discharge the Guarantors, and each Guarantor consents to any such changes.