Who are the parties involved in the Lease Addendum for an Aira Fitness franchise?
Aira_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
| This | Lease Addendum ("Addendum") dated , 20 , is entered into between |
|---|---|
| ("Landlord"), and | |
| ("Tenant"). | |
| RECITALS | |
| A. | The |
| parties | |
| have | |
| entered | |
| into a Lease | |
| Agreement, | |
| dated | |
| (the "Lease") for the | |
| premises | |
| [Note: | |
| Or | |
| land, | |
| as | |
| applicable for Aira | |
| Fitness | |
| Businesses | |
| that | |
| operate | |
| from | |
| Pods.] located | |
| at | |
| (the "Premises"). | |
| B. | Tenant |
| has | |
| agreed | |
| to | |
| use | |
| the | |
| Premises | |
| only for the | |
| operation | |
| of | |
| an | |
| Aira | |
| Fitness | |
| Business | |
| pursuant |
- to a franchise agreement ("Franchise Agreement") with Aira Fitness Franchising LLC. ("Aira Fitness").
- C. The parties desire to amend the Lease in accordance with the terms and conditions contained in this Addendum.
AGREEMENT
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- Remodeling and Décor. Landlord agrees to allow Tenant to remodel, equip, paint and decorate the interior of the Premises and to display such proprietary marks and signs on the interior and exterior of the Premises pursuant to the Franchise Agreement and any successor Franchise Agreement.
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- Assignment. Tenant has the right to assign all of its right, title and interest in the Lease to Aira Fitness or its successor, or either company's affiliates, at any time during the term of the Lease, including any extensions or renewals, without first obtaining Landlord's consent. No assignment will be effective, however, until Aira Fitness or its successor or designated affiliate gives Landlord written notice of its acceptance of the assignment. If Aira Fitness elects to assume the lease under this paragraph or unilaterally assumes the lease as provided for in subparagraphs 3(c) or 4(a), Landlord and Tenant agree that (i) Tenant will remain liable for the responsibilities and obligations, including amounts owed to Landlord, prior to the date of assignment and assumption, and (ii) Aira Fitness will have the right to sublease the Premises to another AIRA FITNESS franchisee, without further need for Landlord approval, provided the franchisee agrees to operate the Aira Fitness Business as an Aira Fitness Business pursuant to a franchise agreement with Aira Fitness. Aira Fitness will be responsible for the lease obligations incurred after the effective date of the assignment.
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- No Lien. Landlord agrees not to require a security interest or lien on any of the personal property of the Tenant located on the Premises used for the operation of the Aira Fitness franchise.
4. Default and Notice.
- (a) In the event there is a default or violation by Tenant under the terms of the Lease, Landlord agrees to give Tenant and Aira Fitness written notice of such default or violation within a reasonable time after Landlord knows of its occurrence.
Source: Item 23 — **RECEIPTS (FDD pages 59–254)
What This Means (2025 FDD)
According to the 2025 Aira Fitness Franchise Disclosure Document, the Lease Addendum involves three primary parties: the Tenant, the Landlord, and Aira Fitness Franchising LLC. The Tenant is the franchisee who is leasing the premises to operate the Aira Fitness Business. The Landlord is the owner of the property being leased by the franchisee. Aira Fitness Franchising LLC is a third-party beneficiary with independent rights of enforcement.
The Lease Addendum is an agreement that amends the original lease between the Landlord and the Tenant. It outlines the rights and responsibilities of each party, particularly concerning the Aira Fitness franchise. For instance, the Landlord agrees to allow the Tenant to remodel and decorate the premises according to Aira Fitness's standards. The Tenant also has the right to assign the lease to Aira Fitness or its affiliates without the Landlord's prior consent.
Aira Fitness's involvement as a third-party beneficiary means it has specific rights related to the lease, such as ensuring the premises can be identified as an Aira Fitness Business and protecting its trademarks and system. This arrangement protects Aira Fitness's interests and standards, even though Aira Fitness is not a direct party to the original lease agreement between the Landlord and Tenant. The addendum also states that any modifications to it must be in writing and have Aira Fitness's written consent, further emphasizing Aira Fitness's oversight role.