Who is the Guarantor in the Kidokinetics Franchisee's Personal Guaranty and Covenant?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
E AGREEMENT ATTACHMENT E
FRANCHISEE'S PERSONAL GUARANTY
| This Franchisee's Personal Guaranty and Covenant (this "Guaranty") is given by each of the |
|---|
| undersigned (each, a "Guarantor") on [], 20 to Kidokinetics Franchise LLC, a Florida |
| limited liability company ("Franchisor"), in order to induce Franchisor to enter into that certain Franchisor |
| Agreement dated of even date herewith (the "Franchise Agreement") with, |
| a("Franchisee"). |
Guarantor acknowledges that Guarantor is included in the term "Franchisee's Principal" as described in the Franchise Agreement.
Guarantor acknowledges that Guarantor has read the terms and conditions of the Franchise Agreement and acknowledges that the execution of this Guaranty and the undertakings of the Franchisee's Principal herein and in the Franchise Agreement are in partial consideration for, and a condition to the granting of, the rights granted in the Franchise Agreement, and that Franchisor would not have granted these rights without the execution of this Guaranty by Guarantor.
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, the Guarantor in the Franchisee's Personal Guaranty and Covenant is each of the undersigned. The Guaranty is given by each undersigned Guarantor to Kidokinetics Franchise LLC to induce Kidokinetics to enter into the Franchise Agreement with the Franchisee. Each Principal and each Principal's spouse will personally execute and bind himself or herself to the Guaranty. Each shall jointly and severally guarantee Franchisee's performance of all of Franchisee's obligations, covenants and agreements under the Agreement, and otherwise bind themselves to the terms of this Agreement as stated herein, pursuant to the terms and conditions of the Guaranty and Confidentiality and Non-Compete Agreement.