{"section_label":"Section V: Financial Information - instructions only","section_instructions":"<p>Please submit current financial statements, including the most recent audited financial statement and the most recent quarterly financial statement for the proposed franchisee and its general partner(s), managing member(s) or principal shareholder(s). If the franchisee has more than one level of ownership in its ownership structure, please also provide the most recent quarterly financial statement for the ultimate owners of the general partner(s), managing member(s) or principal shareholder(s) of franchisee.<\/p>\n<p>We require the franchisee\\'s principals to guaranty the franchisee\\'s obligations under the franchise agreement. In some cases, we will accept the guaranty of an entity with substantial net worth instead of some or all of the principals of the franchisee. The primary determining factors will include (i) the net worth and liquidity of the proposed guarantor; (ii) the credit and operating history of the proposed guarantor; and (iii) the debt structure applicable to the hotel. If you propose an entity to serve as the guarantor, you must submit financial statements for that entity.<\/p>","section_required":"0","section_sub":"0","section_prints":""}