What agreements might an assignee be required to execute under the Aira Fitness Development Agreement?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
e obligated to guarantee the performance under this Agreement until the final close of the installment sale or the termination of such interest, as the case may be.
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- Consent to Transfer; General Release. You, each Owner and each guarantor must execute all transfer documents that we require and in the form we designate, which documents will include a general release
of all claims arising out of or relating to this Agreement, your Aira Fitness Business or the parties' business relationship; provided, however, that the release will not be inconsistent with any state law regulating franchising.
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- Training. The transferee must, at your or the transferee's expense, comply with the training requirements of Section 7.B.
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- Financial Reports and Data.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to the 2025 Aira Fitness Franchise Disclosure Document, if a proposed transfer of the franchise would result in a change of control, the assignee must execute Aira Fitness's then-current form of franchise agreement. The excerpt specifies that no initial franchise fee will be due under this circumstance. Additionally, each of the assignee's owners must execute Aira Fitness's then-current form of personal guaranty and undertaking.
Furthermore, the assignor, each owner, and each guarantor must execute all transfer documents that Aira Fitness requires, in the form they designate. These documents will include a general release of all claims arising out of or relating to the Development Agreement, the Aira Fitness business, or the parties' business relationship. However, the release will not be inconsistent with any state law regulating franchising.
These requirements ensure that Aira Fitness maintains control over who becomes a franchisee and that the new franchisee is bound by the current terms and conditions of the franchise agreement. The personal guarantees from the assignee's owners provide additional security for Aira Fitness. The general release helps to prevent future legal disputes arising from the transfer. Prospective franchisees should carefully review these requirements and understand the implications before considering an assignment of their Aira Fitness franchise.