What other notices and defenses are waived by the Guarantor under the Better Blend Guaranty?
Better_Blend Franchise · 2024 FDDAnswer from 2024 FDD Document
Guarantor agrees as follows:
- **1.
Guaranty.** Guarantor hereby unconditionally guarantees to BBF and its affiliates(and their respective successors and assigns) that Franchisee shall pay and perform every undertaking, agreement and covenant set forth in the Franchise Agreement and further guarantees every other liability and obligation of Franchisee to BBF and its affiliates, whether or not contained in the Franchise Agreement.
Guarantor shall render any payment or performance required under the Franchise Agreement or any other agreement between Franchisee and BBF or its affiliates upon demand from BBF.
Guarantor waives (a) acceptance and notice of acceptance by BBF of this Guaranty; (b) notice of demand for payment of any indebtedness or nonperformance of any obligations of Franchisee; (c) protest and notice of default to any party with respect to the indebtedness or nonperformance of any obligations hereby guaranteed; (d) any right Guarantor may have to require that an action be brought against Franchisee or any other person or entity as a condition of liability hereunder; (e) all rights to payments and claims for reimbursement or subrogation which any of the undersigned may have against Franchisee arising as a result of the execution of and performance under this Guaranty by the undersigned; (f) any law which requires that BBF make demand upon, assert claims against or collect from Franchisee or any other person or entity (including any other guarantor), foreclose any security interest, sell collateral, exhaust any remedies or take any other action against Franchisee or any other person or entity (including any other guarantor) prior to making any demand upon, collecting from or taking any action against the undersigned with respect to this Guaranty; and (g) any and all other notices and legal or equitable defenses to which Guarantor may be entitled.
Source: Item 22 — CONTRACTS (FDD page 43)
What This Means (2024 FDD)
According to Better Blend's 2024 Franchise Disclosure Document, a Guarantor waives several rights and notices related to the Franchise Agreement. Specifically, the Guarantor waives acceptance and notice of acceptance by Better Blend of the Guaranty. They also waive notice of demand for payment of any debt or nonperformance of obligations by the franchisee, as well as protest and notice of default.
Furthermore, the Guarantor gives up any right to require Better Blend to first bring an action against the franchisee or any other person before pursuing the Guarantor. They waive all rights to payments and claims for reimbursement or subrogation against the franchisee that might arise from their obligations under the Guaranty.
Finally, the Guarantor waives any legal requirement that Better Blend must first demand payment from, assert claims against, or collect from the franchisee or any other party, including foreclosing on security interests or selling collateral, before taking action against the Guarantor. The Guarantor also waives any and all other legal or equitable defenses they might otherwise be entitled to assert.