For what term does the guarantor's guarantee apply to a Bumble Roofing franchise?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
For value received, Outdoor Living Brands HoldCo LLC, a Delaware limited liability company (the "Guarantor"), located at 2426 Old Brick Road, Glen Allen, Virginia 23060, absolutely and unconditionally guarantees to assume the duties and obligations of Bumble Roofing Franchisor, LLC located at 2426 Old Brick Road, Glen Allen, Virginia 23060 (the "Franchisor"), under its franchise registration in each state where the franchise is registered, and under its Franchise Agreement identified in its 2025 Franchise Disclosure Document, as it may be amended, and as that Franchise Agreement may be entered into with franchisees and amended, modified or extended from time to time. This guarantee continues until all such obligations of the Franchisor under its franchise registrations and the Franchise Agreement are satisfied or until the liability of Franchisor to its franchisees under the Franchise Agreement has been completely discharged, whichever first occurs. The Guarantor is not discharged from liability if a claim by a franchisee against the Franchisor remains outstanding. Notice of acceptance is waived. The Guarantor does not waive receipt of notice of default on the part of the Franchisor. This guarantee is binding on the Guarantor and its successors and assigns.
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the guarantee of performance by Outdoor Living Brands HoldCo LLC extends until all obligations of Bumble Roofing Franchisor, LLC under its franchise registrations and the Franchise Agreement are satisfied. Alternatively, the guarantee remains in effect until the liability of Bumble Roofing to its franchisees under the Franchise Agreement has been completely discharged, whichever event occurs first.
This means that the guarantor's commitment is comprehensive, covering the entire duration of the Franchise Agreement and any extensions or modifications made to it. The guarantor's obligations persist as long as Bumble Roofing has any outstanding duties or liabilities to its franchisees.
Importantly, the guarantee is not discharged even if a franchisee's claim against Bumble Roofing remains unresolved. This provides an added layer of security for franchisees, ensuring that the guarantor remains responsible for the franchisor's obligations, even in the event of disputes or outstanding claims. The guarantee is binding on the Guarantor and its successors and assigns.