What is the name of the entity to which the Caring Senior Service franchisee's lease is assigned?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
MENT OF LEASE
Caring Senior Service Franchise Partnership, L.P., a Texas limited partnership ("Assignee"), all of Assignor's right and title to and interest in that certain "Lease" a copy of which is attached as Exhibit A respecting premises commonly known as This assignment is for collateral purposes only and except as specified in this document Assignee will have no liability or obligation of any kind whatsoever arising from or in connection with this assignment or the Lease unless and until Assignee takes possession of the premises the Lease demises according to the terms of this document and assumes Assignor's obligations under the Lease. FOR VALUE RECEIVED, the undersigned ("Assignor") assigns, transfers and sets over to and that Assignor has not previously assigned or transferred and is not otherwise obligated to assign or Assignor represents and warrants to Assignee that it has full power and authority to assign the Lease transfer any of its interest in the Lease or the premises it demises. Service Business between Assignee and Assignor or in the event Assignor defaults under any document or Upon Assignor's default under the Lease or under the "Franchise Agreement" for a Caring Senior instrument securing the Franchise Agreement Assignee has the right to take possession of the premises the Lease demises and expel Assignor from the premises. In that event Assignor will have no further right and title to or interest in the Lease but will remain liable to Assignee for any past due rental payments or other charges Assignee is required to pay Lessor to effectuate the assignment this document contemplates. modification of the Lease without Assignee's prior written consent. Throughout the term of the Franchise Assignor agrees that it will not suffer or permit any surrender, termination, amendment or Agreement Assignor agrees that it will elect and exercise all options to extend the term of or renew the Lease not less than thirty (30) days before the last day upon which the option must be exercised unless Assignee agrees otherwise in writing.
Source: Item 23 — RECEIPTS (FDD pages 53–204)
What This Means (2025 FDD)
According to the 2025 Caring Senior Service Franchise Disclosure Document, if a franchisee's lease is assigned, it is assigned to Caring Senior Service Franchise Partnership, L.P., a Texas limited partnership. Senior Health Services, Inc. acts as the General Partner for Caring Senior Service Franchise Partnership, L.P.
This assignment serves as collateral, meaning it's a security measure for Caring Senior Service. The franchisee (Assignor) transfers their rights in the lease to Caring Senior Service Franchise Partnership, L.P. (Assignee), but the franchisee typically retains possession and responsibility for the lease unless a default occurs. This setup protects Caring Senior Service's interests in case the franchisee fails to meet their obligations under the lease or the Franchise Agreement.
If the franchisee defaults on the lease or the Franchise Agreement, Caring Senior Service has the right to take possession of the premises and terminate the franchisee's rights to the lease. The franchisee remains liable for any unpaid rent or charges that Caring Senior Service has to pay to the Lessor (landlord) to facilitate the assignment. The franchisee also needs to obtain written consent from Caring Senior Service before making any changes to the lease and must exercise any lease renewal options, unless Caring Senior Service agrees otherwise.