What agreement is the Personal Guaranty related to for Big Air Trampoline Park?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
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 23 — RECEIPT (FDD pages 53–255)
What This Means (2025 FDD)
According to Big Air Trampoline Park's 2025 Franchise Disclosure Document, the Personal Guaranty is related to the Multi-Unit Development Agreement. Specifically, the Personal Guaranty is provided as an inducement for Big Air Franchising, LLC to execute the Multi-Unit Development Agreement. The agreement may include revisions, modifications, addenda, and amendments.
The Personal Guarantors agree to jointly and severally unconditionally guarantee the full, prompt, and complete performance of the Multi-Unit Developer under the terms, covenants, and conditions of the Multi-Unit Development Agreement. This includes compliance with 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 the Multi-Unit Developer in order to open and operate the Big Air Trampoline Facilities, and the complete and prompt payment of all indebtedness to Franchisor under the Agreement.
The term "indebtedness" is broadly defined to include any and all advances, debts, obligations, and liabilities of the Multi-Unit Developer, whether now or hereafter incurred, voluntarily or involuntarily, due or not due, absolute or contingent, liquidated or unliquidated, determined or undetermined, or whether recovery may be 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 separate legal actions may be brought 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.