From whom does Big Frog Custom T Shirts More lease its facilities?
Big_Frog_Custom_T_Shirts_More Franchise · 2024 FDDAnswer from 2024 FDD Document
CONSENT AND AGREEMENT OF LANDLORD
as to that Conditional Assignment of Lease from (Assignor) to Big Frog Custom T-Shirts, Inc. (Assignee) dated , for the property known The undersigned Landlord under the aforedescribed Lease further hereby: (a) Agrees to notify Assignee in writing of and upon the failure of Assignor to cure any default by Assignor under the Lease; (b) Agrees that Assignee shall have the right, but shall not be obligated, to cure any default by Assignor under the Lease within thirty (30) days after delivery by Landlord of notice thereof in accordance with paragraph (a) above; (c) Consents to the foregoing Conditional Assignment and agrees that if Assignee takes possession of the premises demised by the Lease and confirms to Landlord the assumption of the Lease by Assignee as tenant thereunder, Landlord shall recognize Assignee as tenant under the Lease, provided that Assignee cures within the thirty (30)day period the non monetary defaults, if any, of Assignor under the Lease; (d) Agrees that Assignee may further assign the Lease to a person, firm or corporation who shall agree to assume the tenant's obligations under the Lease and who is reasonably acceptable to Landlord and upon such assignment Assignee shall have no further liability or obligation under the Lease as assignee, tenant or otherwise. (e) Permits Assignee to enter upon the premises without being guilty of trespass or any other crime or tort to de-identify the premises as a Big Frog outlet if tenant fails to do so following termination of the Franchise Agreement or Lease, provided that Assignee shall repair any damage caused thereby. DATED: LANDLORD: By: , (Name, Title)
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2024 FDD)
The 2024 Franchise Disclosure Document does not explicitly state from whom Big Frog Custom T Shirts More leases its facilities. However, it does include a 'Consent and Agreement of Landlord' document related to a 'Conditional Assignment of Lease'.
This document indicates that in the event of a transfer of the lease from the current tenant (Assignor) to Big Frog Custom T-Shirts, Inc. (Assignee), the landlord agrees to notify Big Frog Custom T Shirts More of any defaults by the original tenant and allows Big Frog Custom T Shirts More the option to correct these defaults. The landlord also consents to the conditional assignment, agreeing to recognize Big Frog Custom T Shirts More as the tenant if they take possession and assume the lease, provided any non-monetary defaults are resolved within a 30-day period.
Additionally, the landlord agrees that Big Frog Custom T Shirts More can further assign the lease to another party who agrees to assume the tenant's obligations, provided this new party is reasonably acceptable to the landlord. This agreement also allows Big Frog Custom T Shirts More to enter the premises to remove any branding if the tenant fails to do so after the termination of the Franchise Agreement or Lease, ensuring that the location is no longer identified as a Big Frog Custom T Shirts More outlet. The document does not name the landlord, but it requires the landlord's signature and title to be entered on the form.