What is the dependency between the Bananas Smoothies Frozen Yogurt Lease and the Sublease?
Bananas_Smoothies_Frozen_Yogurt Franchise · 2025 FDDAnswer from 2025 FDD Document
December 25, 2022, amounting to $329,934, $337,169 and $287,993, respectively.
As of December 29, 2024 and December 31, 2023, net royalties receivables from affiliate-owned franchises amounted to $15,251 and $14,987, respectively, and are included in royalties and advertising fees receivable, net in the accompanying balance sheets.
EXHIBIT J To Disclosure Document
Sublease Agreement
SUBLEASE
Sublessor ("Sublessor"):
| State of Formation: |
|---|
| Address: |
| Sublessee ("Sublessee"): |
| State of Formation: |
| Address: |
| Sublease Date ("Sublease Date"): |
| Lease ("Lease"): |
| Dated: |
| Tenant ("Tenant"): |
| Landlord ("Landlord"): |
| Premises ("Demised Premises"): as described in the Lease. |
| Guarantor: |
| This Sublease Agreement is made this day of, 20, by and between |
| Everything Yogurt Brands, LLC, a Delaware limited liability company, having an address at 25 |
| Washington Street, Morristown, New Jersey 07960 ("Sublessor") and, having an address |
| at, ("Sublessee"). |
| WHEREAS, Sublessor is the Tenant under the Lease, the terms and provisions of which are |
| incorporated as if fully set out herein; |
Source: Item 23 — RECEIPT (FDD pages 58–231)
What This Means (2025 FDD)
According to the 2025 Bananas Smoothies Frozen Yogurt FDD, the Sublease agreement is dependent on the original Lease. The Sublessor, Everything Yogurt Brands, LLC, is the Tenant under the original Lease, and the terms of that Lease are incorporated into the Sublease agreement as if they were fully stated within it. The Sublessee acknowledges receipt of a copy of the original Lease.
Furthermore, the Sublessee is obligated to pay all rents and charges directly to the Landlord as stipulated in the original Lease. Any term defined in the original Lease will have the same meaning in the Sublease. The Landlord has the right to unilaterally modify the Lease for the Demised Premises, which may result in amendments to the Sublease Agreement.
This arrangement means that a Bananas Smoothies Frozen Yogurt franchisee operating under a sublease is directly bound by the terms of the original lease between Everything Yogurt Brands, LLC and the Landlord. Changes to the original lease can directly impact the sublease, and the franchisee is responsible for understanding and adhering to the conditions of both agreements. The franchisee also makes payments directly to the landlord, reinforcing the connection between the lease and sublease agreements.