Under what conditions does Aira Fitness have the right to assume the tenant's interest in the lease?

lord 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.

• 1. 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.
• 1. 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. Landlord agrees to provide Aira Fitness the written notice of default as written and on the same day Landlord gives it to Tenant. Although Aira Fitness is under no obligation to cure the default, Aira Fitness will notify Landlord it intends to cure the default and unilaterally assume Tenant's interest in the lease as provided in Paragraph 3(c). Aira Fitness will have an additional fifteen (15) days from the expiration of Tenant's cure period in which to cure the default or violation.
• (b) All notices to Aira Fitness must be sent by registered or certified mail, postage prepaid, to the following address:

Aira Fitness Franchising LLC.

Source: Item 23 — **RECEIPTS (FDD pages 59–254)