What is the agreement referenced in this section for Hawthorn Suites By Wyndham called?
Hawthorn_Suites_By_Wyndham Franchise · 2025 FDDAnswer from 2025 FDD Document
To induce Hawthorn Suites Franchising, Inc., its successors, assigns, and affiliates ("Company") to consent to the assignment and assumption of the Primary Agreements (as defined in the Assignment and Assumption Agreement (the "Agreement") to which this Guaranty is attached), the undersigned, personally, jointly and severally ("we," "our," or "us") irrevocably and unconditionally (i) warrant to Company that Assignee's representations and warranties in the Agreement and in the Franchise Agreement are true and correct as stated; and (ii) guaranty that all of Franchisee's obligations under the Primary Agreements will be punctually paid and performed, from and after the time Assignee becomes the Franchisee under the Franchise Agreement. Capitalized terms not defined in this Guaranty have the meanings given to them in the Agreement.
Upon default by Franchisee and notice from Company, we will immediately make each unpaid payment and perform, or cause Franchisee to perform, each unperformed obligation of Franchisee under the Primary Agreements. Without affecting our obligations under this Guaranty, without notice to us, Company may extend, modify or release any indebtedness or obligation of Franchisee, or settle, adjust or compromise any claims against Franchisee. We waive notice of any amendment to the Agreement and the Primary Agreements, and we acknowledge that the provisions of Section 17 of the Franchise Agreement, including but not limited to Section 17.4 (Remedies) and Section 17.6 (Choice of Law; Venue; Dispute Resolution, including but not limited to Section 17.6.4 (Waiver of Jury Trial)), apply to this Guaranty.
Upon the death of an individual guarantor, the estate of the guarantor will be bound by this Guaranty for obligations of Franchisee to Company existing at the time of death, and the obligations of all other guarantors will continue in full force and effect.
Source: Item 22 — CONTRACTS (FDD page 92)
What This Means (2025 FDD)
According to the 2025 Hawthorn Suites By Wyndham FDD, the agreement referenced in the Guaranty section is called the "Assignment and Assumption Agreement". This agreement outlines the terms and conditions under which Hawthorn Suites Franchising, Inc. consents to the assignment and assumption of the Primary Agreements.
The Guaranty itself is a legally binding document where the undersigned (guarantor) warrants the assignee's representations and warranties in both the Assignment and Assumption Agreement and the Franchise Agreement are accurate. The guarantor also guarantees that the franchisee's obligations under the Primary Agreements will be fulfilled from the time the assignee becomes the franchisee.
This means that if a franchisee transfers their franchise to a new owner, the guarantor ensures the new owner meets all obligations. The guarantor's obligations remain even if Hawthorn Suites By Wyndham modifies or releases any obligations of the franchisee without notifying the guarantor. The Guaranty extends to the guarantor's estate in the event of death, binding it to the franchisee's obligations existing at the time of death.