What notices does the guarantor waive under the Kitchen Solvers Personal Guarantee?
Kitchen_Solvers Franchise · 2025 FDDAnswer from 2025 FDD Document
The undersigned waives: (1) notice of demand for payment of any indebtedness or nonperformance of any obligations hereby guaranteed; (2) protest and notice of default to any party respecting the indebtedness or nonperformance of any obligations hereby guaranteed; and (3) any right he/she may have to require that an action be brought against the franchisee or any other person as a condition of liability.
In addition, the undersigned consents and agrees that: (1) the undersigned's liability will not be contingent or conditioned upon our pursuit of any remedies against the franchisee or any other person; and (2) such liability will not be diminished, relieved or otherwise affected by the franchisee's insolvency, bankruptcy or reorganization, the invalidity, illegality or unenforceability of all or any part of the Agreement, or the amendment or extension of the Agreement with or without notice to the undersigned.
Source: Item 22 — Contracts (FDD page 49)
What This Means (2025 FDD)
According to Kitchen Solvers's 2025 Franchise Disclosure Document, the personal guarantor waives certain notices related to the franchisee's obligations. Specifically, the guarantor waives the right to receive notice of demand for payment of any debt or nonperformance of any guaranteed obligations. This means Kitchen Solvers does not have to notify the guarantor that the franchisee has failed to pay or perform before seeking recourse from the guarantor.
Additionally, the guarantor waives the right to protest and receive notice of default concerning any guaranteed debt or nonperformance. This implies that Kitchen Solvers is not obligated to inform the guarantor of the franchisee's default. The guarantor also waives any right to demand that Kitchen Solvers first pursue action against the franchisee or any other person before holding the guarantor liable.
Furthermore, the personal guarantee stipulates that the guarantor's liability is not contingent on Kitchen Solvers pursuing remedies against the franchisee or any other party. The guarantor's liability will also not be affected by the franchisee's insolvency, bankruptcy, or reorganization, or by the invalidity, illegality, or unenforceability of the franchise agreement. The guarantor's obligations remain even if the agreement is amended or extended, regardless of whether the guarantor receives notice of such changes. These waivers and consents are designed to ensure that Kitchen Solvers can directly and immediately pursue the guarantor for the franchisee's obligations without procedural hurdles.