Where can I find the Guaranty and Assumption of Franchisee's Obligations for a Big Air Trampoline Park?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
If you are a legal or business entity, each individual who owns, directly or indirectly, a 5% or greater interest in you (and, if you are an individual, your immediate family defined as your spouse or domestic partner and any adult children involved in any way with the Big Air Trampoline Business) must sign the Guaranty and Assumption of Franchisee's Obligations assuming and agreeing to discharge all of your obligations and comply with all restrictions under the Franchise Agreement (See Attachment B to the Franchise Agreement and our Nondisclosure and Noncompetition Agreement attached to this Franchise Disclosure Document as Exhibit H); (See Attachment C to the Multi-Unit Development Agreement).
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, the Guaranty and Assumption of Franchisee's Obligations for Big Air Trampoline Park is found in Attachment B to the Franchise Agreement. This document must be signed by each individual who owns, directly or indirectly, a 5% or greater interest in the franchisee's business entity. If the franchisee is an individual, their immediate family (spouse/domestic partner and adult children involved with the business) must sign the Guaranty as well.
The purpose of this guaranty is to ensure that these individuals personally assume and agree to fulfill all of the franchisee's obligations and comply with all restrictions outlined in the Franchise Agreement. This provides Big Air Trampoline Park with an additional layer of security, as it holds these individuals personally liable for the franchisee's performance.
In addition to the Guaranty and Assumption of Franchisee's Obligations, the individuals must also sign Big Air Trampoline Park's Nondisclosure and Noncompetition Agreement, which is attached to the Franchise Disclosure Document as Exhibit H. This agreement further protects Big Air Trampoline Park's confidential information and prevents those affiliated with the franchisee from competing with the franchise during and after the franchise term. Attachment C to the Multi-Unit Development Agreement also contains information regarding the Guaranty.