Under what condition is an amendment to the Note binding on the Holder for Sonesta Simply Suites?

According to the 2025 Sonesta Simply Suites Franchise Disclosure Document, an amendment to or modification of the Note is only binding on the Holder if it is in writing and signed by the Holder. This means that any verbal agreements or understandings regarding changes to the Note are not enforceable against the Holder.

For a prospective Sonesta Simply Suites franchisee, this clause emphasizes the importance of obtaining any modifications or amendments to the Note in writing and ensuring they are signed by the Holder. This protects the franchisee by ensuring that any agreed-upon changes are legally binding and cannot be unilaterally revoked by the Holder.

This requirement for written and signed amendments is a standard practice in financial agreements to prevent misunderstandings and disputes. Franchisees should be diligent in documenting all agreements related to the Note to avoid potential issues in the future.