Does the guarantee by Propelled Brands Franchising, LLC for My Salon Suite have any conditions attached?
My_Salon_Suite Franchise · 2025 FDDAnswer from 2025 FDD Document
bsequent events through April 26, 2023, the date the consolidated financial statements were available to be issued.
EXHIBIT J-1
GUARANTY OF PERFORMANCE
For value received, Propelled Brands Franchising, LLC, a Delaware limited liability company (the "Guarantor"), located at 2542 Highlander Way, Carrollton, Texas 75006, absolutely and unconditionally guarantees to assume the duties of Suite Management Franchising, LLC, located at 2542 Highlander Way, Carrollton, Texas 75006 (the "Franchisor") under its franchise registration in each state where its franchise is registered or exempt from registration, as applicable, and under its Franchise Agreement as identified in its 2025 Franchise Disclosure Document, as it may be amended, and as that Franchise Agreement may be entered into with franchisees and amended, modified or extended, from time to time. This guaranty continues until all such obligations of the Franchisor under the franchise registration or franchise exemption (as applicable) and Franchise Agreement are satisfied or until liability of the Franchisor under the Franchise Agreement has been completely discharged, whichever first occurs. Guarantor is not discharged from liability if a claim by the franchisee against the Franchisor remains outstanding. Notice of acceptance is waived. The Guarantor does not waive receipt of notice of default on the part of the Franchisor. This guarantee is binding on the Guarantor and on its successors and assigns.
Source: Item 21 — Financial Statements (FDD pages 93–94)
What This Means (2025 FDD)
According to My Salon Suite's 2025 Franchise Disclosure Document, Propelled Brands Franchising, LLC provides a guarantee of performance. This guarantee is for Suite Management Franchising, LLC's duties under its franchise registration and Franchise Agreement. Propelled Brands Franchising, LLC absolutely and unconditionally guarantees to assume the duties of Suite Management Franchising, LLC. This guarantee is applicable in each state where the franchise is registered or exempt from registration. The guarantee extends to the Franchise Agreement as identified in the 2025 Franchise Disclosure Document, including any amendments, modifications, or extensions made to it over time.
The guarantee remains in effect until all obligations of Suite Management Franchising, LLC under the franchise registration or exemption and the Franchise Agreement are fully satisfied. It also remains until the liability of the Franchisor under the Franchise Agreement has been completely discharged, whichever occurs first. Propelled Brands Franchising, LLC is not released from liability if a franchisee's claim against Suite Management Franchising, LLC remains outstanding.
The guarantee specifies that notice of acceptance is waived, meaning Propelled Brands Franchising, LLC does not need to be formally notified that its guarantee is accepted. However, the Guarantor (Propelled Brands Franchising, LLC) does not waive receipt of notice of default on the part of the Franchisor (Suite Management Franchising, LLC). This means that Propelled Brands Franchising, LLC still needs to be informed if Suite Management Franchising, LLC fails to meet its obligations. The guarantee is binding on Propelled Brands Franchising, LLC and its successors and assigns, ensuring its continued enforceability even if the company changes ownership or structure. The Guarantor signs this guarantee at Carrollton, Texas on the y of April 2025.