What is the Guaranty and Assumption of Obligations agreement for Cicis effective as of?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
eet for Subsequently Identified Location)**
This Attachment A-1 is attached to and made a part of the Franchise Agreement to which it is attached.
- Franchisee Name: 2. Section 1.B (Grant): a. Location address: Type of Cicis Restaurant: □ b. □ Cicis Buffet Restaurant Cicis to Go c. Protected Area: [attach map] 3. Section 4 (Fees): □ $30,000 □ $15,000 Initial Franchise Fee: □ $ [NAME OF FRANCHISEE] ON SMILE LLC, a Delaware limited liability company
ATTACHMENT B TO FRANCHISE AGREEMENT
GUARANTY AND ASSUMPTION OF OBLIGATIONS ("GUARANTY")
THIS GUARANTY AND ASSUMPTION OF OBLIGATIONS is given by each of the undersigned persons indicated below who have executed this Guaranty (each a "Guarantor") to be effective as of the Effective Date of the Agreement (defined below).
In consideration of, and as an inducement to, the execution of that certain Franchise Agreement (as amended, modified, restated or supplemented from time to time, the "Agreement") on this date by On Smile LLC ("us," "we," or "our"), each Guarantor personally and unconditionally (a) guarantees to us and our successors and assigns, for the term of the Agreement and afterward as provided in the Agreement, that ________________________________________ ("Franchisee") will punctually pay and perform each and every undertaking, agreement, and covenant set forth in the Agreement and (b) agrees to be
Source: Item 22 — CONTRACTS (FDD pages 64–65)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, the Guaranty and Assumption of Obligations agreement is effective as of the Effective Date of the Franchise Agreement. This agreement is provided by each person who executes the Guaranty, referred to as a Guarantor.
In this agreement, the Guarantor personally and unconditionally guarantees that the Franchisee will fulfill every commitment outlined in the Franchise Agreement. This includes timely payments and the performance of all agreements and covenants. The Guarantor also agrees to be personally bound by and liable for any breaches of the Franchise Agreement, covering both monetary obligations and specific actions or inactions required, such as non-competition, confidentiality, and transfer requirements.
This means that if the franchisee, On Smile LLC in this case, fails to meet its obligations under the Franchise Agreement, the guarantor(s) will be held responsible for ensuring those obligations are met. This provides Cicis with an additional layer of security, ensuring that there are parties who are personally liable for the franchisee's performance. The agreement is binding upon each Guarantor and his/her respective executors, administrators, heirs, beneficiaries, and successors in interest.