What is included in Exhibit C of the Face Foundrie Franchise Agreement?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
| -------------------------------------------------------------------------------------------------- | --------------------------- | ------------------------------- |
|---|---|---|
| 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 22 — CONTRACTS (FDD pages 73–74)
What This Means (2025 FDD)
According to the 2025 Face Foundrie Franchise Disclosure Document, Exhibit C of the Franchise Agreement is the Guaranty, Indemnification, and Acknowledgment. This exhibit requires the undersigned to unconditionally guarantee to Face Foundrie Franchising L.L.C. that all of the franchisee's obligations, including monetary obligations, under the Franchise Agreement will be paid and performed punctually. This guaranty is unconditional, irrevocable, and absolute, and can only be modified or amended through a written agreement executed by both parties.
Specifically, the guarantor agrees to immediately make each payment required of the franchisee upon demand by Face Foundrie, waiving any right to require Face Foundrie to first proceed against the franchisee or exhaust any security. Face Foundrie may extend, modify, or release any indebtedness or obligation of the franchisee without notice to the guarantor, and the guarantor remains bound by any amendments or changes to the Franchise Agreement.
In practical terms, this means that a personal guarantee is required, ensuring that someone is liable for the franchisee's financial and performance obligations. This is a common practice in franchising, as it provides the franchisor with an additional layer of security. A prospective Face Foundrie franchisee should carefully review this exhibit and understand the full extent of the obligations being guaranteed, as it could have significant financial implications.