For Aira Fitness franchisees leasing a Pod Package, what rights are waived under the Pod Package Lease?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
(4) You must purchase or lease the Pod Package from us. You can pay the purchase price for the initial fitness equipment in full or we will lease you the initial fitness equipment. You willsign the standard form Pod Package Purchase Agreement along with the Personal Guaranty that is attached to this Disclosure Document as Exhibit H or you willsign the standard form Pod Package Lease along with the Personal Guaranty that is attached to this Disclosure Document as Exhibit I. We do not require any parties who do not have ownership interest in the franchise to sign the Personal Guaranty. Under the Pod Package Lease, you waive (i) rights and remedies underSections 2A-508 through 12A-522 of the Uniform Commercial Code (UCC); (ii) rights to require our affiliate to mitigate damages; and (iii) the right to trial by jury. Additionally, under the Pod Package Lease, the statute of limitations for breach of warranty is limited to 1 year.
Source: Item 10 — **FINANCING (FDD pages 36–38)
What This Means (2025 FDD)
According to Aira Fitness's 2025 Franchise Disclosure Document, franchisees who lease a Pod Package from Aira Fitness waive certain rights. Specifically, under the Pod Package Lease agreement, franchisees waive rights and remedies under Sections 2A-508 through 12A-522 of the Uniform Commercial Code (UCC). They also waive the right to require Aira Fitness's affiliate to mitigate damages, and the right to a trial by jury.
In addition to waiving these rights, the Pod Package Lease also limits the statute of limitations for breach of warranty to one year. This means that franchisees have a limited time to bring a claim for any issues related to the warranty of the Pod Package.
These waivers and limitations are important considerations for prospective Aira Fitness franchisees. It is crucial to carefully review the Pod Package Lease agreement and understand the implications of these waivers before signing. Franchisees should seek legal counsel to fully understand their rights and obligations under the lease.