What is the dependency between Section 15 and selling a Big Air Trampoline Park business?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
ithout Franchisee's consent and, provided the transferee expressly assumes and undertakes to perform Franchisor's obligations in all material respects, do so free of any responsibility or liability whatsoever to Franchisee after the transaction occurs.
- 15.3 With regard to any of the above sales, assignment and dispositions, Franchisee expressly and specifically waives any claims, demands, or damages against Franchisor arising from or related to the transfer of the Marks, assets or the System from Franchisor to any other party.
- 15.4 Franchisee understands and acknowledges that the rights and duties set forth in this Agreement are personal to Franchisee. Accordingly, this Agreement, Franchisee's rights and interests hereunder, the property and assets owned and used by Franchisee in connection with the Big Air Trampoline Business, and any shares, stock, membership or interest in any corporation, limited liability company, or other entity having an interest in the Big Air Trampoline Business, shall not be voluntarily or involuntarily, directly or indirectly sold, pledged, assigned, transferred, shared, subdivided, subfranchised, encumbered or transferred in any way (including, without limitation, in the event of the death of Franchisee if Franchisee is an individual), in whole or in part, in any manner whatsoever without the prior written approval of Franchisor, which approval will not be unreasonably withheld or delayed, and
compliance with all terms of this Section 15. Any unauthorized sale, assignment, transfer or other conveyance, by operation of law or otherwise, or any attempt to do so, shall be deemed void and grounds for termination of this Agreement by Franchisor.
- 15.5 With and after each valid assignment of this Agreement pursuant to this Section 15, the assignee or assignees of Franchisee shall be deemed to be Franchisee under this Agreement and will be bound by and liable for all of Franchisee's existing and future obligations. No stockholder in any corporation, member in any limited liability company or partner in any partnership which becomes Franchisee shall have any rights under this Agreement by reason of his, her or its stock ownership, membership interest or partnership interest.
Source: Item 23 — RECEIPT (FDD pages 53–255)
What This Means (2025 FDD)
According to the 2025 FDD, Section 15 of the franchise agreement outlines the conditions and procedures that a Big Air Trampoline Park franchisee must follow when selling their business. Specifically, a franchisee who wishes to sell their Big Air Trampoline Park business must comply with all the terms outlined in Section 15. Failure to comply with Section 15 can result in the franchisor deeming the sale void and grounds for termination of the franchise agreement.
Before a Big Air Trampoline Park franchisee can sell their business, they must obtain a bona fide, executed, written offer (Purchase Offer) from a responsible, arms' length, and fully disclosed purchaser. A copy of this Purchase Offer must be submitted to Big Air Trampoline Park. The franchisor then has a right of first refusal to purchase the Big Air Trampoline Park business, as detailed in Section 16 of the franchise agreement.
Furthermore, Big Air Trampoline Park will not approve any transfer or assignment of the franchise agreement until the franchisee is in full compliance with the agreement. This includes paying all outstanding debts or amounts owed to the franchisor and its affiliates or suppliers. This ensures that the Big Air Trampoline Park franchise system maintains its integrity and financial stability during ownership transitions.