What is the Crave Guarantor's responsibility regarding the performance of all other obligations, liabilities and duties of Sublessee?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
e: | | Transit/ABA Number: | | Account Number: This authority is to remain in full force and effect until Company has received written notification from me (or either of us) of its termination in such time and in such manner to afford Company and Depository a responsible opportunity to act on such request. | | Depositor: (Please Print) | | | | | | | | Date Signed | Signature(s) of Depositor, as Printed Above | | Please attach a voided blank check, for purposes of setting up Bank and Transit Numbers.
Exhibit C Franchise Agreement
Exhibit D PERSONAL GUARANTY OF LEASE
| Crave WM Franchising LLC, a Wyoming limited liability company ("Sublessor"), | |
|---|---|
| executes this Sublease (the "Sublease") herewith between Sublessor and | |
| , a | limited liability |
| company ("Sublessee"), covering certain premises, situated in the City of | in the state of, within the |
| Walmart location located at The undersigned, jointly and | |
| severally (hereinafter referred to individually and collectively as "Guarantor", whether one or | |
| more) hereby jointly and severally guarantee unto Sublessor the payment and performance of (i) all | |
| of the rental and other sums or charges which may ever become due and payable by Tenant under | |
| the Lease, including, without limitation, rental that becomes due and payable by reason of the | |
| exercise of any power to accelerate granted to Sublessor under the Sublease and any damages or | |
| other sums that become payable on account of any default by Sublessee under the Sublease, and (ii) | |
| all of the other obligations, liabilities and duties of Sublessee under the Sublease (the rental, other | |
| sum |
Source: Item 23 — RECEIPTS (FDD pages 63–253)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the Guarantor's responsibility includes guaranteeing the payment and performance of all rental and other sums or charges that the Sublessee owes under the Sublease. This extends to any rental that becomes due because of accelerated payment powers granted to the Sublessor, as well as any damages or other amounts payable due to the Sublessee's default.
Specifically, the Guarantor is responsible for all other obligations, liabilities, and duties of the Sublessee as outlined in the Sublease. The term 'Obligations' collectively refers to the rental, sums, charges, and other duties. The term 'Sublessee' includes any assignee of the Sublessee, and the term 'Sublease' includes any amendments made to it, regardless of whether the Guarantor is aware or consents to these changes.
This guarantee ensures that Crave, as the Sublessor, has a financial backstop in case the Sublessee fails to meet their financial and operational responsibilities. The guarantor essentially steps in to ensure that Crave does not suffer financial losses due to a defaulting sublessee. For a prospective Crave franchisee, understanding the obligations of a guarantor is crucial, especially if they plan to have someone guarantee their performance under the Sublease. They should ensure that the guarantor fully understands the extent of their responsibilities and potential liabilities.