In the Aira Fitness FDD, what is the significance of the 'DEVELOPER INITIALS' and 'FRANCHISOR INITIALS' fields related to the description of the development area?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
effect using electronic signatures and records. Delivery of this Agreement by facsimile, e-mail or other functionally equivalent electronic means of transmission constitutes valid and effective delivery.
IN WITNESS WHEREOF, the parties hereto have duly executed, sealed, and delivered this Agreement on the dates set forth below each signature.
DEVELOPER: AIRA FITNESS [ENTITY NAME] FRANCHISING LLC An Illinois limited liability Franchisor A Dated: Dated: AIRA FITNESS MUDA 2025 - 16 - FRANCHISOR INITIALS DEVELOPER INITIALS
EXHIBIT A TO THE MULTI-UNIT DEVELOPMENT AGREEMENT
DESCRIPTION OF DEVELOPMENT AREA
[Insert description]
FRANCHISOR: AIRA FITNESS FRANCHISING, LLC An Illinois limited liability Franchisor DEVELOPER: [ENTITY NAME] A Dated: Dated: AIRA FITNESS MUDA 2025 - 17 - DEVELOPER INITIALS FRANCHISOR INITIALS
EXHIBIT B TO THE MULTI-UNIT DEVELOPMENT AGREEMENT
DEVELOPMENT SCHEDULE
Developer is obligated under this Agreement to develop, open and operate a minimum o
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to the 2025 Aira Fitness Franchise Disclosure Document, the 'DEVELOPER INITIALS' and 'FRANCHISOR INITIALS' fields appear in multiple exhibits attached to the Multi-Unit Development Agreement (MUDA). These initials serve as an acknowledgment and verification that both parties, the developer (franchisee) and Aira Fitness (franchisor), have reviewed and agreed to the terms outlined in the specific exhibit. This is a standard legal practice to ensure that all parties are in agreement with the contents of the document. The exhibits where these initials appear include Exhibit A (Description of Development Area) and Exhibit B (Development Schedule).
Specifically, the presence of these fields in Exhibit A, which describes the development area, signifies that both Aira Fitness and the developer have acknowledged and agreed upon the defined territory granted to the developer for establishing multiple Aira Fitness centers. Similarly, their presence in Exhibit B, which outlines the development schedule, indicates mutual agreement on the timeline and obligations for opening and operating the Aira Fitness centers.
The inclusion of these initial fields is a standard business practice, confirming that both parties have reviewed and accepted the terms of the agreement. This helps to prevent future disputes or misunderstandings regarding the scope of the development area or the timeline for opening new Aira Fitness locations. It is important for a prospective franchisee to carefully review all exhibits and ensure they fully understand the terms before initialing and signing the agreement.