What does the Maker agree to keep regarding the provisions of the Note for Sonesta Simply Suites?

According to the 2025 Franchise Disclosure Document, the Maker, in relation to the Note, agrees to maintain strict confidentiality regarding the provisions outlined within the Note for Sonesta Simply Suites. This means the Maker is prohibited from disclosing the terms of the Note to any third parties, except for their directors, officers, partners, employees, agents, and advisors who have a legitimate need to know the information.

This confidentiality clause ensures that the financial and legal details of the agreement between the Maker and the Holder remain private. This is a common practice in financial agreements to protect sensitive business information and maintain a competitive advantage.

For a prospective Sonesta Simply Suites franchisee, this means that if they enter into a Note agreement with the franchisor, they must exercise caution in managing and sharing information related to the Note. Failure to comply with this confidentiality provision could result in legal or financial repercussions.