Does the Lease Agreement Rider for C3 Wellness Spa have a specific effective date?
C3_Wellness_Spa Franchise · 2024 FDDAnswer from 2024 FDD Document
"Lease Agreement Rider" refers to and means the form "Lease Agreement Rider" attached to this Agreement as Exhibit 4.
- (5) At all times, Franchisee's rights in and to the real property and the business premises of Franchisee's Spa Location shall be subordinate and subject to Franchisee's and Franchisee's landlord's agreement to and execution of the Spa Location Lease Agreement Rider attached to this Agreement as Exhibit 4, and Franchisee's agreement and execution of the Collateral Assignment of Lease attached to this Agreement as Exhibit 5;
Source: Item 23 — RECEIPTS (FDD pages 59–293)
What This Means (2024 FDD)
According to C3 Wellness Spa's 2024 Franchise Disclosure Document, the Lease Agreement Rider is referenced as Exhibit 4 to the franchise agreement. While the document mentions the Lease Agreement Rider, it does not specify an effective date within the excerpts provided.
However, the FDD does state that the franchisee's rights to the real property and business premises are subject to the franchisee's and landlord's agreement to and execution of the Spa Location Lease Agreement Rider attached as Exhibit 4. This implies that the rider becomes effective upon execution by both parties, but the document does not provide a specific date or mechanism for determining the effective date.
Prospective franchisees should inquire with C3 Wellness Spa about the standard terms of the Lease Agreement Rider, including how the effective date is determined and what conditions must be met for the rider to take effect. Understanding these details is crucial for ensuring that the lease terms align with the franchise agreement and that the franchisee's rights are adequately protected.