According to Bor Restoration's 2024 Franchise Disclosure Document, the term 'Party' is explicitly defined within the context of both the Guaranty of Franchisee's Obligations and the General Release. In the Guaranty document, 'Party' refers to BOR Franchising, LLC (Franchisor), the Franchisee, and the Guarantors, who are jointly and severally known as 'Guarantor(s)'. Similarly, the General Release defines 'Party' as Franchisor, Franchisee, and Guarantor.

This definition clarifies the roles and responsibilities of each entity involved in these agreements. By explicitly defining 'Party,' Bor Restoration ensures that all signatories understand their individual and collective obligations. This is particularly important in the context of the Guaranty, where Guarantors agree to ensure the Franchisee's payment and performance under the Franchise Agreement.

For a prospective Bor Restoration franchisee, this explicit definition is beneficial as it reduces ambiguity and potential disputes regarding who is bound by the terms of the agreements. It is common practice in franchising to clearly define key terms to avoid misunderstandings and ensure all parties are aware of their rights and obligations. Franchisees should carefully review these definitions and seek legal counsel if they have any questions about their implications.