What must the undersigned assert regarding the covenants in the Face Foundrie Area Development Agreement?
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 Face Foundrie's 2025 Franchise Disclosure Document, the undersigned must acknowledge and agree to be personally bound by all covenants within the Area Development Agreement, specifically referencing Sections 7 and 8. By signing the Guaranty, the undersigned effectively signs the Agreement related to all covenants.
Furthermore, the undersigned must assert that they have read these covenants, sought counsel regarding their implications, and affirmatively agree to them. This agreement is essential to secure the rights granted to the Area Developer by Face Foundrie under the Area Development Agreement.
It is also clarified that the Guaranty does not grant the undersigned any rights to use the "Face Foundrié" marks or system licensed to the Area Developer. This distinction ensures that the guarantor's role is limited to guaranteeing the Area Developer's obligations without gaining any direct rights to the Face Foundrie brand or operational system.