Does the Aira Fitness agreement specify that the developer's sole remedy is in the event of the entry of any?

According to the 2025 Aira Fitness Franchise Disclosure Document, in the event that the developer files for bankruptcy or insolvency, it constitutes a default under the agreement.

Specifically, if the developer files a petition for bankruptcy or insolvency, Aira Fitness has the right to terminate the agreement and all rights granted to the developer without providing an opportunity to cure the default. This termination is effective immediately upon delivery of a written notice from Aira Fitness. Additionally, Aira Fitness can reduce the number of Aira Fitness Centers the developer has the right to establish or exercise any other rights and remedies available under applicable law.

This clause is significant for potential Aira Fitness developers as it highlights the serious consequences of financial instability. Filing for bankruptcy or insolvency can lead to immediate termination of the development agreement, loss of rights to open new centers, and potential legal action. Developers should carefully assess their financial capabilities and risk tolerance before entering into an agreement with Aira Fitness.