Under the Circle K promissory note, what does the maker waive?

According to Circle K's 2025 Franchise Disclosure Document, the maker of the promissory note waives certain rights related to payment collection. Specifically, the maker waives presentment, demand, notice of dishonor, and protest.

In practical terms, this means that Circle K, as the payee, is not required to formally present the note for payment, make a formal demand for payment, provide notice if payment is not made (dishonored), or formally protest the non-payment. These waivers streamline the collection process for Circle K if the maker defaults on the note.

This waiver is a standard provision in promissory notes to simplify and expedite the process for the lender to collect payment in case of default. By agreeing to these waivers, the franchisee (maker) accepts a greater responsibility to ensure timely payments, as they are giving up certain procedural protections they would otherwise have under commercial law.