What exhibit contains the Assetco guarantee for Bft?
Bft Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached to this Disclosure Document as Exhibit C are Assetco's audited financial statements which comprise the balance sheets as of December 31, 2024 and 2023, and related statements of operations, changes in member's equity, and cash flows and the related notes to the financial statements for the year ended December 31, 2024 and for the period from March 6, 2023 to December 31, 2023. Assetco was formed in March 2023, and therefore, is unable to provide three years of financial statements. We are a wholly-owned subsidiary of Assetco, and Assetco absolutely and unconditionally guarantees to assume our duties and obligations under the Franchise Agreements and Multi-Unit Agreements entered into while we are the wholly owned subsidiary of Assetco. A copy of the Assetco guarantee is attached as Exhibit D.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Bft's 2025 Franchise Disclosure Document, the Assetco guarantee is included as Exhibit D. Item 21 of the FDD states that Assetco, the direct parent of Bft, guarantees Bft's obligations as a franchisor. This guarantee extends to the Franchise Agreements and Multi-Unit Agreements entered into while Bft is a wholly-owned subsidiary of Assetco.
The guarantee signifies that Assetco will absolutely and unconditionally assume Bft's duties and obligations under these agreements. This provides an added layer of security for franchisees, as Assetco's financial strength backs Bft's commitments.
Exhibit D itself is titled "Guaranty of Performance" and details the terms of the guarantee provided by XPOF Assetco, LLC. It specifies that the Guarantor absolutely and unconditionally guarantees the performance by BFT FRANCHISE SPV, LLC of all obligations in accordance with the terms and conditions of the franchise registration in each state where the franchise is registered, and under its Franchise Agreement identified in its 2025 Franchise Disclosure Document.