Sonichsen

FACTS

I.

THE LEASE AGREEMENT, GUARANTY, AND ASSIGNMENT

In 2014, Yellow Dog Holdings, LLC (Yellow Dog) entered into an equipment lease agreement with Alliance Funding Group (Alliance), a non- party to this appeal, whereby Yellow Dog leased a paint booth. Appellants personally guaranteed Yellow Dog’s obligations under the lease by signing a “Lease Guaranty” provision contained within the lease. The guaranty included the following attorney fees provision, which is central to the instant appeal: “I will reimburse all expenses [Alliance] incur[s] in enforcing [its] rights against [Yellow Dog] or me, including, without limitation, attorney’s fees and costs.” Early in the lease term, Alliance assigned its rights under the lease to Ascentium. Among other things, the assignment authorized

1 Respondent Regions Bank is the successor to Ascentium. For clarity and consistency with the appellate briefing, we refer to the entity throughout this opinion as “Ascentium.”

2 Ascentium to “take all legal or other proceedings which [Alliance] could have taken with respect to the Assigned Contract and related documents, including, without limitation the enforcement of rights and remedies under the…