What rights does each Guarantor waive against the Franchisee under the Cicis Guaranty?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
Each Guarantor waives: (i) all rights to payments and claims for reimbursement or subrogation which any Guarantor may have against Franchisee arising as a result of the Guarantor's execution of and performance under this Guaranty; and (ii) acceptance and notice of acceptance by us of Guarantor's undertakings under this Guaranty, notice of demand for payment of any indebtedness or non-performance of any obligations hereby guaranteed, protest and notice of default to any party with respect to the indebtedness or nonperformance of any obligations hereby guaranteed, and any other notices to which he or she may be entitled.
Source: Item 22 — CONTRACTS (FDD pages 64–65)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, the Guarantor waives specific rights against the Franchisee. This waiver is part of the Guaranty and Assumption of Obligations agreement.
Specifically, each Guarantor waives all rights to payments and claims for reimbursement or subrogation that they may have against the Franchisee. These rights arise from the Guarantor's execution of and performance under the Guaranty. Additionally, the Guarantor waives acceptance and notice of acceptance by Cicis of the Guarantor's obligations under the Guaranty.
This waiver also includes notice of demand for payment of any debt or non-performance of any obligations guaranteed, protest and notice of default to any party regarding the guaranteed debt or nonperformance, and any other notices to which the Guarantor may be entitled. This means the Guarantor cannot seek compensation or reimbursement from the Franchisee for any payments made or obligations fulfilled under the Guaranty. It also means that the Guarantor may not receive notifications or demand for payments.