Can the Lease be assigned without notice to the Guarantor under the Aira Fitness Guaranty?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
The Lease may be assigned, modified or amended in whole or in part or the Premises may be sublet in whole or in part without notice to Guarantor and without releasing Guarantor or affecting Guarantor's obligations under this Guaranty in any way.
Franchisor's Affiliate may, from time to time, and without notice to Guarantor, release any security that Franchisor's Affiliate may have for the obligations of Franchisee under the Lease or accept security therefor; add, substitute or release guarantors; or compromise or settle any amount due or owing; or claimed to be owing under the Lease; and no such action by Franchisor's Affiliate or any other action which Franchisor's Affiliate may take or omit in connection with the Lease shall affect this Guaranty or Guarantor's obligations in any way.
Guarantor expressly waives notice of acceptance of this Guaranty and diligence of collecting any sums due under the Lease or the taking of any action with reference to any default under the Lease or to any liability under this Guaranty.
Franchisor's Affiliate has no duty to disclose to Guarantor any information it receives regarding the financial status of Franchisee, whether or not such information indicates that the risk of Guarantor under this Guaranty has been or may be increased. Guarantor assumes full responsibility for being and keeping informed of Franchisee's financial condition, Franchisee's performance under the Lease, and Franchisee's use and operation of the Premises.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to the 2025 Aira Fitness Franchise Disclosure Document, the lease can be assigned, modified, or amended without notice to the guarantor. The guarantor's obligations under the guaranty will not be affected by these changes.
Additionally, Aira Fitness's affiliate has the right to release any security for the franchisee's obligations under the lease, accept security, add, substitute, or release guarantors, or compromise or settle any amount due without notifying the guarantor. The guarantor's obligations remain unaffected by these actions.
The guarantor also waives the right to receive notice of acceptance of the guaranty, diligence in collecting sums due under the lease, or any action regarding defaults under the lease or liability under the guaranty. The guarantor is responsible for staying informed about the franchisee's financial condition and performance under the lease, as Aira Fitness's affiliate has no duty to disclose any information about the franchisee's financial status, even if it increases the guarantor's risk.