What specific sections of the lease assignment agreement are effective immediately upon execution by all parties for Deka Lash?
Deka_Lash Franchise · 2024 FDDAnswer from 2024 FDD Document
II. With the exception of Sections III, IV, VIII, IX below which are effective as of the date this Agreement is fully executed by the parties, the assignment of Lease contemplated hereunder is conditional and shall not be effective until the "Effective Date," as defined in Section 5 of this Agreement. Franchisor shall have no right to assume the Lease unless and until:
VIII. Tenant and Landlord agree not to allow any surrender or other assignment of the Lease without the prior written consent of Franchisor.
IX. All notices or demands required hereunder shall be made in writing and shall be deemed to be fully given two days after deposit in the U.S. certified mail, postage prepaid, return receipt requested or one day after sent Federal Express or similar overnight courier for overnight delivery. Franchisor's address for notices is 20 South Main Street, #248, Bountiful, UT 84010.
Source: Item 23 — RECEIPT (FDD pages 63–234)
What This Means (2024 FDD)
According to the 2024 Deka Lash Franchise Disclosure Document, Sections III, IV, VIII, and IX of the lease assignment agreement are effective immediately upon execution by all parties. These sections outline specific obligations and agreements related to the lease.
Section III mandates that the Landlord must provide Deka Lash with written notice of any Tenant defaults at the same time they notify the Tenant. Section IV clarifies that Deka Lash is not obligated to cure any default unless they agree to do so in writing at their sole discretion. Section VIII states that the Tenant and Landlord are prohibited from allowing any surrender or other assignment of the lease without Deka Lash's prior written consent.
Finally, Section IX specifies that all notices or demands must be made in writing and are considered fully given two days after deposit in U.S. certified mail, postage prepaid, return receipt requested, or one day after being sent via Federal Express or a similar overnight courier. The address for Deka Lash notices is 20 South Main Street, #248, Bountiful, UT 84010. A prospective franchisee should note these sections carefully, as they define the immediate responsibilities and notification protocols involving the landlord, tenant, and franchisor upon execution of the lease assignment agreement.