Under the Byrider Guaranty, is the guarantor's liability dependent on Byrider pursuing remedies against the franchisee or any other person?

According to Byrider's 2025 Franchise Disclosure Document, the guarantor's liability under the personal guaranty is not contingent upon Byrider pursuing remedies against the franchisee or any other person. The guarantor provides an unconditional guarantee to Byrider that the franchisee will fulfill all obligations under the Franchise Agreement. This includes both monetary obligations and specific actions required by the agreement.

The guarantor explicitly waives any right to require Byrider to take action against the franchisee or any other party as a condition of their liability. The guarantor's obligations are triggered immediately if the franchisee fails to meet their obligations, and Byrider is not required to first pursue other avenues of recourse. This waiver is a significant aspect of the guaranty, as it allows Byrider to seek recourse directly from the guarantor without delay.

Furthermore, the guarantor's liability is not affected by any extensions of time, credit, or other allowances that Byrider may grant to the franchisee. The guarantor remains liable even if Byrider accepts partial payments or compromises claims with the franchisee. This ensures that the guaranty remains in full effect throughout the term of the Franchise Agreement, providing Byrider with continuous protection. The guaranty only becomes void if the franchise is transferred to an approved buyer who executes Byrider's current franchise agreement and owner guaranty.