What specific notices are waived by the undersigned in the Cinnaholic Guaranty Agreement?
Cinnaholic Franchise · 2025 FDDAnswer from 2025 FDD Document
Each of the undersigned further waives acceptance and notice of acceptance of the foregoing obligations of Developer, notice of demand for payment of any indebtedness or for performance of any obligations hereby guaranteed, and any right the undersigned may have to require that an action be brought against Developer or any other person as a condition to the liability of the undersigned.
Source: Item 22 — CONTRACTS (FDD pages 61–62)
What This Means (2025 FDD)
According to Cinnaholic's 2025 Franchise Disclosure Document, the Guaranty Agreement requires the undersigned to waive certain notices. Specifically, the undersigned waives acceptance and notice of acceptance of the obligations of the Developer.
Additionally, the undersigned waives notice of demand for payment of any indebtedness or for performance of any obligations guaranteed within the agreement. This means that Cinnaholic is not obligated to inform the guarantor that they are seeking payment or performance from the Developer before seeking it from the guarantor.
Finally, the undersigned waives any right to require that Cinnaholic bring an action against the Developer or any other person as a condition to the liability of the undersigned. This clause allows Cinnaholic to pursue the guarantor directly without first having to sue the Developer or any other party.