Are there any specific events that would terminate the Monicals Pizza Guarantor's obligations?
Monicals_Pizza Franchise · 2025 FDDAnswer from 2025 FDD Document
Simultaneously with the execution of this Agreement, all holders of a legal or beneficial interest in Franchisee of five percent (5%) or greater shall be required to execute and deliver to Franchisor the Unlimited Guaranty and Assumption of Obligations attached as Exhibit 3, through which such holders agree to assume and discharge all of Franchisee's obligations under this Agreement and to be personally liable hereunder for all of the same.
Source: Item 23 — RECEIPTS (FDD pages 46–257)
What This Means (2025 FDD)
Based on the 2025 Monicals Pizza Franchise Disclosure Document, all holders of a legal or beneficial interest in the franchisee of five percent or greater must execute an Unlimited Guaranty and Assumption of Obligations. Through this, such holders agree to assume and discharge all of the franchisee's obligations under the Franchise Agreement and to be personally liable for all of the same.
The FDD does not specify the events that would terminate the Monicals Pizza Guarantor's obligations.
To fully understand the conditions under which the Guarantor's obligations might be terminated, a prospective Monicals Pizza franchisee should ask the franchisor for a complete copy of the Unlimited Guaranty and Assumption of Obligations agreement and review it carefully with a legal advisor.