What is the meaning of 'as is' in the context of the Crave subleased premises delivery?

According to Crave's 2025 Franchise Disclosure Document, the subleased premises will be delivered to the sublessee 'as is'. This means that Crave franchisees will be taking the subleased property in its current condition at the time of delivery.

In practical terms, this implies that Crave is not obligated to make any repairs, modifications, or improvements to the subleased premises before handing it over to the franchisee. The franchisee is responsible for accepting the property with any existing issues, defects, or necessary upgrades. This could include structural repairs, cosmetic improvements, or equipment upgrades needed to meet Crave's brand standards or local regulations.

Prospective Crave franchisees should carefully inspect the subleased premises before signing the sublease agreement to identify any potential problems or required improvements. It is important to factor in the costs of any necessary repairs or upgrades into the overall investment budget. Franchisees may want to negotiate with Crave regarding the condition of the premises or request specific improvements be made prior to taking possession to avoid unexpected expenses.

This 'as is' condition is a standard practice in many sublease agreements, shifting the responsibility for the property's condition to the sublessee. Franchisees should seek legal counsel to fully understand their obligations and rights regarding the condition of the subleased premises.