What are the mutual covenants contained in the Bananas Smoothies Frozen Yogurt Sublease Agreement?
Bananas_Smoothies_Frozen_Yogurt Franchise · 2025 FDDAnswer from 2025 FDD Document
ase; and | | WHEREAS, Everything Yogurt Brands, LLC ("Franchisor") and Sublessee (as "Franchisee" | | have previously executed the current Franchise Agreement ("Franchise Agreement") under which the | | Sublessee will operate a Restaurant as the term is defined in the Franchise Agreement subject to the term | | of the Franchise Agreement and this Sublease; and Sublessee acknowledges that Landlord may unilaterally | | modify the Lease for the Demised Premises in which case this Sublease Agreement may be amended | | modify the Leade for the Definition Fromtier in which case this subjects regionitely the difficult |
NOW, THEREFORE, in consideration of the rents reserved under the Sublease, the mutual covenants contained herein and for other good and valuable consideration, the parties agree as follows:
unilaterally by Sublessor to comport to the modification made by Landlord.
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- The Sublessor hereby Subleases the entire Premises to the Sublessee for a term equal to the original term of the Lease less one (1) day, commencing on the date Sublessee takes possession of the Demised Premises. Possession shall be defined as the date the Sublessee takes actual possession of the Demised Premises, but in no event shall it be later than sixty (60) days after Sublessee's graduation from the Franchisor's initial training course.
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- It is expressly agreed between the parties that in the event the Sublessor is unable to obtain the written consent of the Landlord to this Sublease (should such consent be required by the provisions of the Lease) this Sublease will be null and void and of no further effect and the Sublessee acknowledges and agrees that the Sublessor shall not be responsible for any loss or damage occasioned to the Sublessee by virtue of the refusal of the said Landlord to consent to this Sublease.
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- The Sublessee acknowledges and confirms all of the provisions of the Lease and agrees to be bound by the Lease as if all of the covenants of the Sublessor as Tenant contained therein had been fully incorporated into the Sublease as covenants of the Sublessee (with the exception of the Term), including but not limited to the obligation to carry insurance pursuant to the Lease.
Sublessee further acknowledges and agrees that Sublessor has the absolute right to modify and amend this Sublease whenever and as often as Landlord amends or modifies the Lease so that this Sublease Agreement reflects all modifications or amendments made to the Lease. Sublessee acknowledges it may incur increased cost to comply with the modifications. In the event of any amendment or modification to the Lease by Lessor then in that event, Sublessor shall give Sublessee notice in writing of the modification and such modification shall operate as an amendment to this Sublease Agreement without the need for further documentation. Sublessee recognizes Sublessor's absolute right to make such modifications at Sublessee's expense and Sublessee agrees to accept and implement any such modifications at Sublessee's expense as if such modification of the original Lease were part of this Sublease Agreement at the time of execution hereof. Sublessee shall make such changes and modifications in the manner and time which Sublessor directs in writing.
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- Sublessee hereby acknowledges and agrees that: the Lease is fully negotiated, it has not been charged for said negotiations, it did not rely on the negotiations, it had its own counsel review the Sublease and Sublessor and its attorneys, officers, representatives, general counsel and employees represented only Sublessor and not Sublessee in the negotiations. Sublessee hereby further agrees and acknowledges that it is accepting the Lease "as is", and that, consistent with paragraph 15 of this Sublease, neither Sublessor, nor any of its officers, employees, representatives, general counsel or attorneys have made any representations or promises upon which Sublessee has relied in connection with the Lease and this Sublease.
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Source: Item 23 — RECEIPT (FDD pages 58–231)
What This Means (2025 FDD)
According to the 2025 Bananas Smoothies Frozen Yogurt FDD, the mutual covenants within the Sublease Agreement are established considering the rents reserved under the sublease and other valuable considerations.
The sublessor subleases the premises to the sublessee for a term that mirrors the original lease term, minus one day, starting when the sublessee takes possession. Possession is defined as the date the sublessee occupies the premises, but no later than 60 days after graduating from Bananas Smoothies Frozen Yogurt's initial training course.
The sublessee agrees to several covenants, including paying rent, adhering to the sublessor's obligations as a tenant under the original lease, refraining from assigning or subletting the premises without the sublessor's written consent (subject to the landlord's consent per the lease terms), paying ongoing franchise and advertising fees (considered additional rent), and fulfilling all covenants within the Franchise Agreement. The sublessor has no liability for the landlord's obligations under the lease but will take action against the landlord on behalf of the sublessee if required by law, with the sublessee's cooperation.