Does Aira Fitness assume any liabilities for monies owed related to telephone listings that accrued prior to the assignment's effective date?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
In the event of such assignment, Aira Fitness assumes no liability for monies owed or other liabilities relating to the telephone numbers, telephone listings, and telephone directory advertisements that have accrued prior to the effective date of the assignment.
Franchisee hereby grants to Aira Fitness an irrevocable power of attorney and appoint Aira Fitness as your attorney-in-fact to take any necessary actions to assign the telephone numbers, including but not limited to, executing any forms that the telephone companies may require to effectuate the assignment. This assignment is also for the benefit of the telephone companies, and Franchisee agrees that the telephone companies may accept this assignment and Aira Fitness's instructions as conclusive evidence of its rights in the telephone numbers and our authority to direct the amendment, termination or transfer of the telephone numbers, as if they had originally been issued to Aira Fitness. In addition, Franchisee agrees to hold the telephone companies harmless from any and all claims against them arising out of any actions or instructions by Aira Fitness regarding the assignment contemplated in this Assignment.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, in the event of the expiration or termination of the Franchise Agreement, the franchisee assigns all rights, title, and interest in telephone numbers, listings, and directory advertisements to Aira Fitness. However, this assignment is only effective once the Franchise Agreement has expired or been terminated, and Aira Fitness has provided written notice of acceptance.
Importantly, Aira Fitness explicitly does not assume liability for any outstanding monies owed or other liabilities related to these telephone assets that accrued before the assignment's effective date. This means the franchisee remains responsible for settling any outstanding bills or debts associated with the phone services up to the point the assignment takes effect.
Furthermore, the franchisee grants Aira Fitness an irrevocable power of attorney to manage the assignment of telephone numbers, including executing necessary forms. The franchisee also agrees to protect the telephone companies from any claims arising from Aira Fitness's actions regarding the assignment. This arrangement ensures a smooth transition of telephone-related assets while protecting Aira Fitness from pre-existing financial obligations.