Under the Floyds 99 guaranty, can the guarantor's obligation be affected by amendments to the agreement?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
-
- His or her obligation and liability hereunder shall not be affected by any amendment or modification of the Agreement and he or she has no right to approve or consent to any such amendment or modification.
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the guarantor's obligation and liability will not be affected by any amendment or modification of the agreement. The guarantor does not have the right to approve or consent to any such amendment or modification.
This means that if you are a guarantor for a Floyds 99 franchise, your obligations under the guaranty remain unchanged even if the franchise agreement itself is altered. You will not be asked to approve any changes to the agreement, and your liability will continue as originally agreed upon.
This clause protects Floyds 99 by ensuring that the guaranty remains in effect regardless of any changes made to the franchise agreement. As a potential guarantor, it is crucial to understand that your obligations are fixed and will not change even if the underlying agreement is modified.