factual

Who is responsible for Fly To Fit's attorney fees in enforcing the Guaranty?

Fly_To_Fit Franchise · 2024 FDD

Answer from 2024 FDD Document

Guarantor shall pay to Fly To Fit Franchise all costs incurred by Fly To Fit Franchise (including reasonable attorney fees) in enforcing this Guaranty.

Source: Item 22 — CONTRACTS (FDD page 44)

What This Means (2024 FDD)

According to Fly To Fit's 2024 Franchise Disclosure Document, the Guarantor is responsible for Fly To Fit's attorney fees if Fly To Fit has to enforce the Guaranty. The Guaranty is an agreement executed by a person (the Guarantor) in favor of Fly To Fit Franchise, LLC.

The Guarantor unconditionally guarantees that the Franchisee will pay and perform every undertaking, agreement, and covenant in the Franchise Agreement. This also extends to every other liability and obligation of the Franchisee to Fly To Fit, whether or not it's in the Franchise Agreement.

This means that if Fly To Fit has to take legal action to enforce the Guaranty, the Guarantor will be responsible for covering Fly To Fit's legal costs, including reasonable attorney fees. This provision is designed to protect Fly To Fit's financial interests in the event of a default by the Franchisee, ensuring that the company can recover the costs associated with enforcing the Guaranty agreement.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.