What notices does the guarantor waive in the Guaranty and Assumption of Franchisee's Obligations for Floyds 99?

According to the 2025 Floyds 99 Franchise Disclosure Document, the Guaranty and Assumption of Franchisee's Obligations requires the guarantor to waive certain notices. Specifically, the guarantor waives acceptance and notice of acceptance by Floyds 99 and its affiliates of the guarantor's undertakings. This means the guarantor cannot claim they weren't aware their guarantee was accepted.

The guarantor also waives notice of demand for payment of any debt or nonperformance of any guaranteed obligations. This implies Floyds 99 does not have to notify the guarantor before seeking payment or performance from them if the franchisee defaults. Additionally, the guarantor waives protest and notice of default to any party regarding the guaranteed debt or nonperformance, meaning they cannot demand formal notification of the franchisee's default.

Furthermore, the guarantor gives up any right to require Floyds 99 to first sue the franchisee or any other person before pursuing the guarantor. This allows Floyds 99 to immediately seek recourse from the guarantor without exhausting other options. Finally, the guarantor waives any and all other notices and legal or equitable defenses they might otherwise be entitled to, providing Floyds 99 with broad protection and simplifying the process of enforcing the guarantee.

In essence, these waivers significantly limit the guarantor's rights and defenses, making them directly and fully responsible for the franchisee's obligations under the Franchise Agreement. A prospective franchisee should carefully consider the implications of having someone act as a guarantor, as it places a substantial financial and legal burden on that individual.