Where in the Face Foundrie Franchise Agreement is the indemnification obligation described?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
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|---|---|---|
| Total %: | ||
| FRANCHISEE'S OPERATING PARTNER | ||
| The following identifies Franchisee's Operating Partner, including his/her contact information and percentage of | ||
| beneficial interest in Franchisee: | ||
| Name of Operating Partner | Address, Telephone, Email | Interest (%) with Description |
| FRANCHISING | L.L.C. | |
| FACE FOUNDRIÉ Initial: | Date: | |
| FRANCHISEE |
FACE FOUNDRIÉ FRANCHISING L.L.C. FRANCHISE AGREEMENT EXHIBIT C GUARANTY, INDEMNIFICATION, AND ACKNOWLEDGMENT
As an inducement to Face Foundrié Franchising L.L.C. ("Franchisor") to enter into the Franchise Agreement between Franchisor and _________________________ ("Franchisee"), dated _____________, 20___ (the "Agreement"), the undersigned hereby unconditionally guarantees to Franchisor and Franchisor's successors and assigns that all of Franchisee's covenants and obligations, including, without limitation, monetary obligations, under the Agreement will be punctually paid and performed. This Guaranty, Indemnification, and Acknowledgment (this "Guaranty") is an unconditional, irrevocable and absolute guaranty of payment and performance and may not be cancelled, terminated, modified, or amended except by written agreement executed by both parties.
Upon demand by Franchisor, the undersigned hereby agrees to immediately make each payment required of Franchisee under the Agreement and waive any right to require Franchisor to: (a) proceed against Franchisee for any payment required under the Agreement; (b) proceed against or exhaust any security from Franchisee;
Source: Item 9 — FRANCHISEE'S OBLIGATIONS (FDD pages 31–32)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the indemnification obligation is detailed in Exhibit C of the Franchise Agreement, which is titled "Guaranty, Indemnification, and Acknowledgment." This exhibit outlines the terms under which a guarantor (likely the franchisee or a related party) unconditionally guarantees the franchisee's obligations to Face Foundrie Franchising L.L.C. This guarantee includes ensuring all monetary and other obligations are met punctually.
The exhibit specifies that the guarantor agrees to immediately fulfill any payment required of the franchisee upon demand from Face Foundrie. The guarantor waives any right to require Face Foundrie to first pursue the franchisee for payment or exhaust any security from the franchisee. This means Face Foundrie can seek payment directly from the guarantor without taking any prior action against the franchisee.
Furthermore, the guarantor's obligations remain even if Face Foundrie modifies or releases any of the franchisee's debts or obligations without notifying the guarantor. The guarantor agrees to be bound by any amendments or changes to the Franchise Agreement. This arrangement provides Face Foundrie with a direct and unconditional guarantee, offering them additional security that the franchisee's obligations will be fulfilled.