What agreement is attached as Attachment C to the Multi-Unit Development Agreement for Big Air Trampoline Park?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 23: RECEIPT]
MULTI-UNIT DEVELOPMENT AGREEMENT ATTACHMENT C PERSONAL GUARANTY
ATTACHMENT C
PERSONAL GUARANTY
In consideration of, and as an inducement to, the execution of that certain Multi-Unit Development Agreement, and any revisions, modifications, addenda and amendments thereto, (hereinafter collectively the "Agreement") dated, 20, by and between Big Air Franchising, LLC, a California limited liability company ("Franchisor") ("Multi-Unit and Developer"), each of the undersigned Personal Guarantors agrees as follows:
The Personal Guarantors do hereby jointly and severally unconditionally guaranty the full, prompt and complete performance of the Multi-Unit Developer under the terms, covenants and conditions of the Agreement, including without limitation, compliance with all confidentiality requirements, protection and preservation of confidential information, compliance with all non-compete provisions, compliance with the terms of any and all other agreements signed by Multi-Unit Developer in order to open and operate the Big Air Trampoline Facilities (as defined in the Agreement), and the complete and prompt payment of all indebtedness to Franchisor under the Agreement.
The word "indebtedness" is used herein in its most comprehensive sense and includes, without limitation, any and all advances, debts, obligations and liabilities of the Multi-Unit Developer, now or hereafter incurred, either voluntarily or involuntarily, and whether due or not due, absolute or contingent, liquidated or unliquidated, determined or undetermined, or whether recovery thereof may be now or hereafter barred by any statute of limitation or is otherwise unenforceable.
The obligations of the Personal Guarantors are independent of the obligations of the Multi-Unit Developer and a separate action or actions may be brought and prosecuted against any or all of the Personal Guarantors, whether or not actions are brought against the Multi-Unit Developer or whether the Multi-Unit Developer is joined in any action.
Source: Item 15 — OBLIGATION TO PARTICIPATE IN THE ACTUAL OPERATION OF THE FRANCHISE BUSINESS (FDD pages 40–41)
What This Means (2025 FDD)
According to the 2025 FDD, Attachment C to the Multi-Unit Development Agreement for Big Air Trampoline Park is the Personal Guaranty. This agreement ensures that the personal guarantors jointly and severally guarantee the full performance of the Multi-Unit Developer under the terms of the Multi-Unit Development Agreement. This includes compliance with confidentiality, non-compete provisions, and the payment of all debts to Big Air Trampoline Park.
The Personal Guaranty means that the individuals signing the guaranty are personally liable for the financial and operational obligations of the Multi-Unit Developer. This is a common practice in franchising, especially when the franchisee is a corporate entity with limited assets. The guaranty ensures that Big Air Trampoline Park has recourse to the personal assets of the guarantors if the business fails to meet its obligations.
The obligations of the personal guarantors are independent of the obligations of the Multi-Unit Developer, allowing Big Air Trampoline Park to pursue action against the guarantors directly, regardless of any actions taken against the Multi-Unit Developer. This provides an additional layer of security for Big Air Trampoline Park, ensuring that the terms of the Multi-Unit Development Agreement are upheld.