Where can I find the guaranty agreement exhibit for Floyds 99?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
| 19.1 | Term | 29 | |
|---|---|---|---|
| 19.2 | Continuation | 29 | |
| 19.3 | Rights Upon Expiration | 29 | |
| 19.4 | Exercise of Option for Successor Franchise | ||
| 19.5 | Conditions of Refusal | 30 | |
| 19.6 | Consent to Option | 30 | |
| 20. | DEFA | AULT AND TERMINATION | 30 |
| 20.1 | Termination by Franchisor - Effective Upon Notice | 30 | |
| 20.2 | Termination by Franchisor - Thirty Days' Notice | 31 | |
| 20.3 | Option to Purchase | ||
| 20.4 | Obligations of Franchisee Upon Termination or Expiration | 33 | |
| 20.5 | Acknowledgement | ||
| 20.6 | Management Rights. | 34 | |
| 20.7 | State and Federal Law | 35 | |
| 21. | BUSI | NESS RELATIONSHIP | 35 |
| 21.1 | Independent Businesspersons | ||
| 21.2 | Payment of Other Obligations | ||
| 21.3 | Indemnification | ||
| 22. | REST | RICTIVE COVENANTS | 36 |
| 22.1 | Non-Competition During Term | ||
| 22.2 | Post-Termination Covenant Not to Compete | ||
| 22.3 | Confidentiality of Proprietary Information | ||
| 22.4 | Confidentiality Agreement | ||
| 23. | INSIII | RANCE | 37 |
| 23. | 23.1 | Insurance Coverage | |
| 23.2 | Proof of Insurance Coverage | ||
| 24. | ELLANEOUS PROVISIONS | ||
| 2 4. | 24.1 | Modification | |
| 24.1 | |||
| 24.2 | Entire Agreement | ||
| 24.3 | Delegation by the Franchisor | ||
| 24.4 | Injunctive Relief | ||
| 24.5 | Effective Date | ||
| 24.0 | Review of Agreement | ||
| 24.7 | Attorneys' Fees | ||
| 24.9 | No Waiver | ||
| 24.10 | No Right to Set Off | ||
| 24.11 | Invalidity | ||
| 24.11 | Notices | ||
| 24.12 | No Third-Party Beneficiaries | ||
| 24.13 | Survival of Provisions | ||
| 24.14 | Payment of Taxes | ||
| 24.15 | Cumulative Rights | ||
| 24.17 | |||
| ∠ -⊤.⊥/ | 1 10 11 at vol, 1 10 Discialition | U |
**EXHIBI
Source: Item 15 — OBLIGATION TO PARTICIPATE IN THE ACTUAL OPERATION OF THE FRANCHISE BUSINESS (FDD pages 43–44)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the Guaranty and Assumption of Franchisee's Obligations can be found as Exhibit II to the Franchise Agreement. Item 22 of the FDD lists all the contracts included as exhibits to the agreement.
For prospective franchisees who are entities (corporations, partnerships, or LLCs), all owners of the franchisee entity must sign this Guaranty and Assumption of Franchisee's Obligations. This means that the franchisor, Floyds 99, requires a personal guarantee from the owners, ensuring they are personally liable for the franchise's obligations under the Franchise Agreement.
This requirement is a common practice in franchising, as it provides the franchisor with added security. By having the owners personally guarantee the obligations, Floyds 99 can pursue the personal assets of the owners if the franchise fails to meet its financial or contractual responsibilities. Franchisees should carefully review the terms of the guaranty to understand the full extent of their personal liability.