What is required for an amendment to the Note for Sonesta Select Sonesta Essential to be binding on the Holder?

According to Sonesta Select Sonesta Essential's 2025 Franchise Disclosure Document, any amendment to or modification of the Note must be in writing and signed by the Holder to be binding. This requirement ensures that any changes to the Note are formally documented and agreed upon by the Holder, protecting their interests.

For a prospective Sonesta Select Sonesta Essential franchisee, this means that any verbal agreements or understandings regarding changes to the Note are not enforceable. All modifications must be documented in a written amendment signed by the Holder. This provision is typical in financial agreements to prevent disputes and ensure clarity regarding the terms of the Note.

This requirement protects the Holder by ensuring that any changes to the Note are explicitly agreed upon and documented, preventing misunderstandings or disputes over modifications. Franchisees should ensure that any desired changes to the Note are properly documented and signed by the Holder to be considered valid and enforceable.