What rights does each Cicis Guarantor waive against the Developer as a result of executing the Guaranty?

According to the 2025 Cicis Franchise Disclosure Document, a Guarantor waives specific rights against the Developer upon executing the Guaranty. This waiver includes relinquishing all rights to payments and claims for reimbursement or subrogation that the Guarantor may have against the Developer. These rights would typically arise from the Guarantor's execution and performance under the Guaranty agreement.

Additionally, the Guarantor waives the right to acceptance and notice of acceptance by Cicis of the Guarantor's obligations under the Guaranty. This means the Guarantor will not receive a formal acknowledgment from Cicis confirming their acceptance of the Guarantor's role. The Guarantor also waives the right to notice of demand for payment regarding any guaranteed indebtedness or non-performance of obligations. This implies that Cicis is not obligated to notify the Guarantor before demanding payment or addressing non-performance issues related to the guaranteed obligations.

Furthermore, the Guarantor waives the right to protest and receive notice of default from any party concerning the guaranteed indebtedness or non-performance. This means the Guarantor will not be formally notified of any default related to the obligations they have guaranteed. The Guarantor also waives any other notices to which they might otherwise be entitled. This broad waiver suggests that the Guarantor is giving up various notification rights that could potentially protect their interests.

In practical terms, these waivers significantly limit the Guarantor's ability to assert claims or receive notifications that could help them manage their risk exposure related to the guaranteed obligations of the Developer. A prospective franchisee acting as a Guarantor should carefully consider these waivers and seek legal counsel to fully understand the implications before signing the Guaranty.