Is the Aira Fitness Pod Lease Agreement cancelable during its term?
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)
The 2025 Aira Fitness FDD includes an addendum that discusses the lease agreement between the landlord and the tenant (franchisee). This addendum outlines specific rights and responsibilities of Aira Fitness in relation to the lease. According to the addendum, the tenant (franchisee) has the right to assign their interest in the lease to Aira Fitness or its affiliates at any time during the lease term, including extensions or renewals, without needing the landlord's consent. However, such an assignment becomes effective only upon Aira Fitness providing written notice to the landlord of its acceptance of the assignment.
If Aira Fitness assumes the lease, either through the tenant's assignment or unilaterally as provided in other sections of the addendum, the tenant remains liable for all responsibilities and obligations, including any amounts owed to the landlord, that accrued prior to the date of the assignment. Aira Fitness, on the other hand, becomes responsible for the lease obligations incurred after the effective date of the assignment. Furthermore, Aira Fitness has the right to sublease the premises to another Aira Fitness franchisee without requiring further approval from the landlord, provided that the new franchisee agrees to operate the business as an Aira Fitness franchise under a franchise agreement with Aira Fitness.
The addendum also stipulates that any modifications or amendments to its terms must be made in writing, signed by all parties involved, and receive Aira Fitness's written consent to be considered valid. Except for the specific amendments or modifications outlined in the addendum, all other terms, conditions, and covenants of the original lease remain in full force and effect. This arrangement ensures that Aira Fitness maintains a degree of control and flexibility over the location of its franchises, while also protecting the landlord's interests and ensuring the continued operation of an Aira Fitness business at the location.
While the excerpt details assignment and modification conditions, it does not explicitly state whether the Aira Fitness Pod Lease Agreement is cancelable during its term. A prospective franchisee should seek clarification from Aira Fitness regarding the specific conditions under which the lease can be canceled, including any penalties or procedures involved. Understanding the cancelation terms is crucial for assessing the risks and obligations associated with the lease agreement.