Under what conditions can the Holder of the Note for Sonesta Simply Suites waive a term or agreement?

According to the 2025 Franchise Disclosure Document, the Holder of the Note for Sonesta Simply Suites can only waive a term or agreement in writing. Specifically, no failure or delay by the Holder to insist on strict performance of any term of the Note or exercise any right or remedy upon the occurrence of an Acceleration Event or any other breach of this Note, is a waiver of any term or agreement or of any breach, or precludes Holder from exercising any right or remedy at any later time unless in writing.

This means that verbal agreements or implied leniency will not be considered a waiver. The written requirement protects both the Holder and the Maker (franchisee) by ensuring there is a clear record of any agreed-upon changes or waivers. This is a fairly standard clause in financial agreements to prevent misunderstandings or disputes about unwritten agreements.

Furthermore, if the Holder accepts any payment after its due date, this act will not be a waiver of the Holder's right to receive payment of all other amounts or to declare a default for the failure to make any other payment when due. Also, no amendment to or modification of this Note shall be binding on Holder unless in writing and signed by Holder. This reinforces the importance of written documentation for any changes to the original agreement, ensuring that the Holder's rights are preserved even if they accommodate late payments on one occasion.

This requirement for written waivers and modifications provides clarity and legal certainty for both parties involved in the Note agreement. Prospective Sonesta Simply Suites franchisees should be aware that any deviations from the original terms must be documented in writing to be enforceable.