Does the undersigned waive protest and notice of default to any party with respect to the indebtedness of non-performance of any obligations guaranteed to Pearce Bespoke?

According to Pearce Bespoke's 2025 Franchise Disclosure Document, the personal guaranty includes a waiver of protest and notice of default. Specifically, the undersigned, acting as a guarantor, waives protest and notice of default to any party regarding the indebtedness or non-performance of obligations guaranteed to Pearce Bespoke. This waiver is part of the Personal Guaranty of Owner/Shareholder agreement that is signed in conjunction with the franchise agreement.

In practical terms, this means that if the Pearce Bespoke franchisee defaults on their obligations, the guarantor cannot claim they were not properly notified or given a chance to address the default. The guarantor is giving up their right to receive a formal protest or notice of default. This waiver is designed to protect Pearce Bespoke by streamlining the process of pursuing remedies in case of franchisee non-compliance.

This type of waiver is common in franchise agreements where a personal guaranty is required. It ensures that the franchisor can act quickly to protect its interests without being delayed by procedural requirements. A prospective Pearce Bespoke franchisee should carefully review the personal guaranty and understand the implications of waiving these rights, as it could expose them to greater personal liability in the event of a default by the franchisee entity.