On what date did the Guarantor execute the guarantee for Pump It Up?
Pump_It_Up Franchise · 2025 FDDAnswer from 2025 FDD Document
For value received, FB HOLDINGS, LLC, an Arizona limited liability company (the "Guarantor"), located at 4343 E. Outlier Blvd., Suite 220, Phoenix, AZ 85008, absolutely and unconditionally guarantees to assume the duties and obligations of PUMP IT UP HOLDINGS, LLC, an Arizona Limited Liability Company, located at 4343 E. Outlier Blvd., Suite 220, Phoenix, AZ 85008 (the "Franchisor"), under its franchise registration in each state where the franchise is registered, and under its Franchise Agreement 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 guarantee continues until all such obligations of the Franchisor under its franchise registrations and the Franchise Agreement are satisfied or until the liability of Franchisor to its franchisees under the Franchise Agreement has been completely discharged, whichever first occurs. The Guarantor is not discharged from liability if a claim by a 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 its successors and assigns.
The Guarantor executes this guarantee at Phoenix, Arizona on this 14 day of April 2025.
Source: Item 23 — RECEIPTS (FDD pages 60–225)
What This Means (2025 FDD)
According to Pump It Up's 2025 Franchise Disclosure Document, the Guarantor, FB HOLDINGS, LLC, executed the guarantee on April 14, 2025, in Phoenix, Arizona. This guarantee ensures that FB HOLDINGS, LLC will assume the duties and obligations of PUMP IT UP HOLDINGS, LLC under its franchise registration in each state where the franchise is registered and under its Franchise Agreement.
The guarantee remains in effect until all obligations of Pump It Up Holdings, LLC under its franchise registrations and the Franchise Agreement are satisfied, or until the liability of the Franchisor to its franchisees under the Franchise Agreement has been completely discharged. This means that FB HOLDINGS, LLC's responsibility continues as long as there are outstanding claims against Pump It Up Holdings, LLC.
It is important to note that the Guarantor does not waive receipt of notice of default on the part of the Franchisor, ensuring they are informed of any failures by Pump It Up Holdings, LLC. This guarantee is binding on the Guarantor and its successors and assigns, providing long-term security for Pump It Up franchisees.