What specific document is the guarantee related to for Pump It Up?
Pump_It_Up Franchise · 2025 FDDAnswer from 2025 FDD Document
GUARANTEE OF PERFORMANCE
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, the guarantee of performance from FB HOLDINGS, LLC, as the Guarantor, pertains to the franchise registration in each state where the franchise is registered and the Franchise Agreement. This guarantee ensures that the Guarantor will assume the duties and obligations of Pump It Up Holdings, LLC, the Franchisor, under these documents. The guarantee remains in effect until all obligations of the Franchisor under the 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 guarantee is significant for prospective Pump It Up franchisees as it provides an additional layer of security. It ensures that even if Pump It Up Holdings, LLC faces difficulties, FB HOLDINGS, LLC is legally bound to fulfill the obligations outlined in the franchise registration and Franchise Agreement. This can cover various aspects of the franchise relationship, such as providing necessary support, maintaining system standards, and upholding the terms of the agreement.
The guarantee specifies that the Guarantor is not discharged from liability if a claim by a franchisee against the Franchisor remains outstanding, reinforcing the commitment to franchisees. The guarantor, FB HOLDINGS, LLC, executes this guarantee in Phoenix, Arizona, as of April 14, 2025, and it is binding on the Guarantor and its successors and assigns. This arrangement offers franchisees a degree of protection and assurance that the franchisor's commitments will be honored, even in unforeseen circumstances.