Is the landlord required to notify the Bang Cookies franchisor of all lease assignments?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
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- Landlord must provide Franchisor, at the same time that Landlord provides Tenant, with a copy of all lease amendments and assignments, and a copy of all letters and notices that Landlord sends to Tenant relating to the Lease or the Premises. Subject to the rights set forth in Section "3" of this Rider, Landlord agrees to notify Franchisor by nationally recognized overnight courier at the Notice Address of any default by Tenant under the Lease. Landlord agrees that such notice shall afford Franchisor the option for Franchisor to invoke a cure period whereby Franchisor, upon Franchisor's sole election, shall be granted an additional 15 day period to cure any monetary default by Tenant under the Lease and an additional 30 day period to cure any non-monetary default by Tenant under the Lease. In the event that the non-monetary default cannot reasonably be cured within such period and if diligent efforts to cure promptly commence, then the cure period shall continue as long as such diligent efforts to cure continue, but not beyond 180 days from the date notice is provided.
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to the 2024 Bang Cookies Franchise Disclosure Document, the landlord is required to provide the franchisor with a copy of all lease amendments and assignments. This ensures Bang Cookies is informed of any changes to the lease agreement between the landlord and the franchisee.
Furthermore, the landlord must also provide Bang Cookies with copies of all letters and notices sent to the franchisee relating to the lease or the premises. This requirement helps Bang Cookies stay informed about the communication between the landlord and the franchisee, particularly regarding any potential issues or concerns related to the lease or the property.
Additionally, the landlord is obligated to notify Bang Cookies of any default by the franchisee under the lease. This notification must be sent via a nationally recognized overnight courier to the specified Notice Address. This provision allows Bang Cookies the option to cure the default, with an additional 15-day period to cure any monetary default and an additional 30-day period to cure any non-monetary default. If the non-monetary default cannot be reasonably cured within the initial 30-day period, an extension may be granted, but not beyond 180 days from the date of the notice, provided diligent efforts to cure are promptly commenced. This arrangement protects Bang Cookies' interests by giving them a chance to resolve any lease-related issues and maintain the franchise's location.