What specific notices are waived by the Body20 Guarantors?

According to Body20's 2025 Franchise Disclosure Document, the guarantors, who agree to ensure the franchisee's obligations are met, waive certain notices to streamline the enforcement of the guarantee. This means that Body20 does not have to provide the guarantors with specific updates or demands before seeking fulfillment of the franchisee's obligations.

Specifically, the guarantors waive presentment, which is the formal presentation of a payment demand; demand, which is a request for payment; notice of dishonor, which informs that a payment was refused; and protest, which is a formal certification of non-payment. They also waive all other notices, including those related to the acceptance of the guarantee, the existence or creation of any guaranteed liabilities, the amounts and terms of those liabilities, and any defaults, disputes, or controversies between Body20 and the franchisee, including any settlements, compromises, or adjustments made.

This waiver simplifies the process for Body20 to enforce the guarantee, as they are not required to provide the guarantors with these specific notices. However, it also places a greater responsibility on the guarantors to stay informed about the franchisee's performance and obligations under the Franchise Agreement. The guarantee is primary, meaning Body20 can pursue the guarantors without first pursuing the franchisee or any other security. This arrangement remains effective regardless of the franchisee's solvency, reorganization, or changes in ownership.