Who can enforce the Personal Guaranty 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 guarantors agree to guarantee the multi-unit developer's performance under the Multi-Unit Development Agreement. Big Air Franchising, LLC, the franchisor, can enforce the Personal Guaranty. The guaranty includes compliance with confidentiality, non-compete provisions, and payment of all indebtedness to the franchisor under the agreement.
The agreement specifies that the obligations of the personal guarantors are independent of the obligations of the multi-unit developer. This means Big Air Franchising, LLC can pursue legal action against the guarantors directly, without first having to sue the multi-unit developer. This provides Big Air Trampoline Park with a direct avenue to recover any losses should the multi-unit developer fail to meet their obligations.
The term "indebtedness" is broadly defined to include all advances, debts, obligations, and liabilities, whether current or future, voluntary or involuntary, due or not due, absolute or contingent, liquidated or unliquidated, determined or undetermined, or even if recovery is barred by a statute of limitations or is otherwise unenforceable. This comprehensive definition ensures that the personal guaranty covers a wide range of potential financial obligations, offering significant protection to Big Air Trampoline Park.