Under what conditions does the guarantee of performance for Bumble Roofing continue?
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 the 2025 Bumble Roofing Franchise Disclosure Document, the Guarantee of Performance ensures that Outdoor Living Brands HoldCo LLC, as the Guarantor, will fulfill the obligations of Bumble Roofing Franchisor, LLC under its franchise registration and Franchise Agreement. This guarantee remains in effect until all obligations of Bumble Roofing under its franchise registrations and the Franchise Agreement are met.
Specifically, the guarantee continues until the liability of Bumble Roofing to its franchisees under the Franchise Agreement has been completely discharged, or until all obligations are satisfied, whichever comes first. The Guarantor remains liable even if a franchisee's claim against Bumble Roofing is still outstanding.
This means that prospective Bumble Roofing franchisees can be assured that the obligations of the franchisor are backed by Outdoor Living Brands HoldCo LLC, providing an additional layer of security. This guarantee remains binding on the Guarantor and its successors and assigns, ensuring long-term commitment and stability for franchisees.