Under the Guaranty and Assumption of Obligations for The Standardx, what is the definition of 'Franchise Agreement'?

According to The Standardx's 2025 Franchise Disclosure Document, the Franchise Agreement is defined within the context of the Guaranty and Assumption of Obligations. Specifically, it refers to the Brand Hotel Franchise Agreement that the franchisee enters into with Hyatt. This agreement can be amended, modified, or amended and restated over time, but it is always referred to as "the Franchise Agreement".

The guarantor's obligations are tied to the franchisee's performance and payment obligations under this Franchise Agreement. The guarantor ensures that the franchisee meets all monetary obligations, including liquidated damages, and fulfills every provision within the Franchise Agreement, including any amendments or modifications. This encompasses specific actions, confidentiality, transfer requirements, and adherence to arbitration and enforcement provisions.

This definition is crucial because the Guaranty and Assumption of Obligations document makes the guarantor responsible for the franchisee's adherence to the Franchise Agreement. The guarantor's obligations extend to any extensions or modifications of the Franchise Agreement and remain in effect as long as any performance is owed under the agreement or Hyatt has any cause of action against the franchisee or its guarantors. Therefore, understanding the scope and terms of the Franchise Agreement is essential for both the franchisee and the guarantor.