What notices are waived by the undersigned under the Circle K Personal Guaranty?

According to Circle K's 2025 Franchise Disclosure Document, the personal guaranty requires the undersigned to waive certain notices and rights. Specifically, the guarantor waives notice of demand and presentment for payment of any debt or nonperformance of obligations guaranteed. This means Circle K is not required to formally demand payment or present the debt for payment before pursuing the guarantor.

The guarantor also waives protest and notice of default to any party regarding the guaranteed debt or nonperformance. This means Circle K doesn't have to notify the guarantor if the franchisee defaults on their obligations. Finally, the guarantor waives any right to require Circle K to first bring an action against the franchisee or any other person as a condition of liability. This allows Circle K to pursue the guarantor directly without first suing the franchisee.

These waivers are significant because they streamline Circle K's ability to recover debts and enforce obligations under the franchise agreement. The guarantor's liability is not contingent on Circle K pursuing other remedies against the franchisee. This could expose the guarantor to immediate liability if the franchisee fails to meet their financial or performance obligations. Prospective franchisees should carefully consider the implications of these waivers and seek legal counsel to fully understand their obligations under the personal guaranty.