What sections of the Face Foundrie Area Development Agreement are the undersigned personally bound by?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
The undersigned hereby acknowledges and expressly agrees to be personally bound by all of the covenants contained in the Agreement, including, without limitation, those covenants contained in Sections 7 and 8. Signature by the undersigned on this Guaranty constitutes the undersigned's signature on the Agreement related to all covenants. The undersigned asserts that he or she has read such covenants, been advised by counsel regarding their effect, and hereby affirmatively agree to them in order to secure the rights granted to Area Developer by Franchisor under the Agreement. The undersigned further acknowledges and agrees that this Guaranty does not grant the undersigned any right to use the "Face Foundrié" marks or system licensed to Area Developer under the Agreement.
Source: Item 23 — RECEIPTS (FDD pages 74–257)
What This Means (2025 FDD)
According to the 2025 Face Foundrie FDD, the undersigned, by signing the Guaranty, agrees to be personally bound by all covenants in the Area Development Agreement, specifically including Sections 7 and 8. This means that the individual signing the guaranty is not only ensuring the financial obligations of the Area Developer but also agreeing to adhere to the operational and competitive restrictions outlined in those sections.
Section 7 likely pertains to the transfer of interest in the agreement, meaning the individual guarantor is bound by the conditions and limitations regarding who can take over the Area Development Agreement. Section 8 likely includes covenants related to non-competition, confidentiality, and protection of Face Foundrie's business interests.
By agreeing to be personally bound, the guarantor acknowledges they have read these covenants, sought legal counsel regarding their implications, and willingly accept them to secure the rights granted to the Area Developer. This personal obligation does not, however, grant the guarantor any rights to use Face Foundrie's trademarks or system, which remain exclusively licensed to the Area Developer.