Who are considered "Guarantor" or "Guarantors" in the context of a Circle K franchise agreement?

According to Circle K's 2025 Franchise Disclosure Document, a "Guarantor" or "Guarantors" refers to all persons or entities that execute a Personal Guaranty attached as Exhibit 5 to the franchise agreement. This means that individuals or business entities who formally agree to guarantee the franchisee's obligations under the Circle K franchise agreement are considered Guarantors.

The Personal Guaranty, as detailed in Exhibit J, stipulates that the undersigned parties become surety and guarantor for the prompt payment of all amounts and performance of all covenants, terms, and conditions in the agreements by the Debtor and/or its Affiliates (collectively, "Franchisee"). This includes, without limitation, the arbitration and other dispute resolution provisions of the agreements. The guarantor is essentially promising to fulfill the financial and operational responsibilities of the franchisee if the franchisee fails to do so.

Furthermore, the individuals signing the Personal Guaranty agree to be personally bound by each term and condition in the agreements, as if they had directly executed the agreements themselves. They also waive certain rights, including the right to receive notice of demand for payment or notice of default, and any right to require that an action be brought against the Franchisee before pursuing the guarantor. This underscores the significant legal and financial commitment undertaken by a Guarantor in a Circle K franchise agreement.