What specific notices does the undersigned waive in the Guaranty and Assumption of Developer's Obligations for Floyds 99?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
Each of the undersigned waives the following:
- Acceptance and notice of acceptance by Franchisor and its affiliates of the foregoing undertakings;
- Notice of demand for payment of any indebtedness or nonperformance of any obligations hereby guaranteed;
- Protest and notice of default to any party with respect to the indebtedness or nonperformance of any obligations hereby guaranteed;
- Any right he or she may have to require that any action be brought against Developer or any other person as a condition of liability; and
- Any and all other notices and legal or equitable defenses to which he or she may be entitled.
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to Floyds 99's 2025 Franchise Disclosure Document, the undersigned, when providing a guaranty and assumption of a developer's obligations, waives several specific notices. These waivers include acceptance and notice of acceptance by Floyds 99 and its affiliates regarding the undertakings.
Additionally, the undersigned waives the right to receive notice of demand for payment of any debt or notice of nonperformance of any guaranteed obligations. They also waive protest and notice of default to any party related to the guaranteed debt or nonperformance.
Furthermore, the guarantor gives up any right to demand that Floyds 99 first take action against the developer or any other person before seeking fulfillment of the guaranty. Finally, the guarantor waives any and all other notices and legal or equitable defenses they might otherwise be entitled to.