What does the Guarantor unconditionally guarantee to Bumper Man, Inc. and its successors and assigns?
Bumper_Man Franchise · 2025 FDDAnswer from 2025 FDD Document
| THIS GUARANTY is made this day of,, by and among |
|---|
| Bumper Man, Inc., a Texas corporation ("BMI") and the undersigned. |
| NOW IT IS HEREBY AGREED AS FOLLOWS: |
| In consideration of BMI's entering into the Promissory Note dated with |
| , a, as Maker (the "Note"), each of the undersigned |
| owners of the outstanding ownership interests in Maker and any other parties who sign |
| counterparts of this Guaranty (referred to herein individually as a "Guarantor" and collectively |
| as "Guarantors") hereby personally and unconditionally guarantees to BMI and its successors |
| and assigns full and prompt performance by Maker of all its obligations under the Note and the |
| due and punctual payments of all sums payable at any time or times under the Note (collectively, |
| the "Obligations"), when and as the same shall become due and undertakes with BMI that if and |
| each time that Maker shall be in default of the payment of any sum whatsoever under the Note, |
| each Guarantor will, on written demand from BMI, make good the default and perform all |
| Obligations and pay all sums which may become payable under the Note as if the Guarantor(s) |
| instead of Maker were therein expressed to assume the primary Obligations therefor, together |
| with interest thereon at the rate per annum from time to time payable thereunder until payment of |
| such sums in full. The liability of the undersigned shall not be contingent or conditioned upon |
| pursuit by BMI of any remedies against Maker or any other person. |
| Each Guarantor waives: |
| (1) acceptance and notice of acceptance by BMI of the |
| foregoing |
| undertakings; |
| (2) notice |
| of |
| demand |
| for |
| payment |
| of |
| any |
| indebtedness |
| or |
Source: Item 22 — CONTRACTS (FDD page 45)
What This Means (2025 FDD)
According to Bumper Man's 2025 Franchise Disclosure Document, the Guarantor provides an unconditional guarantee to Bumper Man, Inc. and its successors and assigns. This guarantee ensures the full and prompt performance by the Maker (the borrower) of all obligations under the Promissory Note. It also covers the due and punctual payments of all sums payable under the Note.
In practical terms, this means that if the Maker defaults on any payment or obligation under the Promissory Note, the Guarantor is responsible for making good on that default. The Guarantor must perform all obligations and pay all sums as if they were the primary obligor, including any interest accrued at the rate per annum from the time of default until full payment is made. This liability is not contingent on Bumper Man first pursuing remedies against the Maker or any other person.
The Guarantor also waives certain rights, including acceptance and notice of acceptance by Bumper Man of the undertakings, and notice of demand for payment of any indebtedness.