For Aira Fitness, what happens if the proposed purchase agreement is not included with the application for consent to transfer?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
prior written consent.
- B. Consent to Transfer. We will not unreasonably withhold our consent to transfer, provided we determine that all of the conditions described in this Section 12 have been satisfied. Application for our consent to a transfer and tender of the right of first refusal provided for in Section 12.E must be made by submission of our form of application for consent to transfer, which must be accompanied by the documents (including a copy of the proposed purchase or other transfer agreement) or other required information. The application must indicate whether you or an Owner proposes to retain a security interest in the property to be transferred. No security interest may be retained or created, however, without our prior written consent and except upon conditions acceptable to us.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
Based on the 2025 Aira Fitness Franchise Disclosure Document, the application for consent to a transfer must be made by submitting Aira Fitness's form, which must include the required documents and information, including a copy of the proposed purchase or other transfer agreement.
If the proposed purchase agreement is not included with the application for consent to transfer, Aira Fitness will not grant consent to transfer. Aira Fitness requires that the application for consent to transfer includes the proposed purchase agreement.
Any agreement used in connection with a transfer is subject to Aira Fitness's prior written approval, which approval will not be unreasonably withheld. Any attempted transfer without Aira Fitness's prior written consent or not in compliance with the terms of the agreement will be void and will provide Aira Fitness with the right to elect either to default and terminate the agreement or to collect from you and the guarantors a transfer fee equal to two times the transfer fee provided for in Section 12.C.