What is the purpose of the guarantee provided by FB HOLDINGS, LLC 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.
Guarantor: FB HOLDINGS, LLC
Name: Lauren Tebbenhoff
Title: President
Source: Item 23 — RECEIPTS (FDD pages 60–225)
What This Means (2025 FDD)
According to Pump It Up's 2025 Franchise Disclosure Document, FB HOLDINGS, LLC, the parent company of Pump It Up Holdings, LLC, provides a guarantee of performance. This guarantee means FB HOLDINGS, LLC absolutely and unconditionally guarantees to 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. This ensures that franchisees have recourse to the parent company should Pump It Up Holdings, LLC fail to meet its obligations. The guarantor's address is 4343 E. Outlier Blvd., Suite 220, Phoenix, AZ 85008. The franchisor's address is the same.
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, whichever occurs first. This provides long-term security for franchisees, as the guarantee does not end prematurely if a claim remains outstanding. The guarantor, FB HOLDINGS, LLC, does not waive receipt of notice of default on the part of the Franchisor.
The guarantee is binding on FB HOLDINGS, LLC and its successors and assigns, ensuring continuity even if the parent company undergoes changes in ownership or structure. The guarantee was executed on April 14, 2025, in Phoenix, Arizona, and signed by Lauren Tebbenhoff, President of FB HOLDINGS, LLC. This guarantee is particularly relevant in states with franchise laws requiring registration or filing of the Franchise Disclosure Document, such as California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin.