Who benefits from the lease addendum associated with a Floyds 99 franchise?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
-
- REMOVAL OF TRADE DRESS/PERSONAL PROPERTY. Tenant shall have fifteen (15) days from the termination or expiration of the Lease to remove Tenant's property and trade dress from
the Premises. Landlord further agrees that, upon the earlier of the expiration or termination of the Franchise Agreement or the Lease or upon any Default under the Lease or any default under the Franchise Agreement, Franchisor will have the right, but not the obligation, at Franchisor's sole cost, to enter upon the Premises and to remove any or all furniture, fixtures, equipment and all trade names, trade dress and other trade indicia associated with Franchisor, including, without limitation, Tenant's property, external and internal signage and all trade dress and design characteristics identifying the Premises as a FLOYD'S 99 franchise. Franchisor agrees to promptly repair any damage to the Premises caused by such removal or modifications. Franchisor will have fifteen (15) days from the later of (1) receipt of such notice of expiration or termination to remove such items, and (2) Franchisor's discovery that Tenant has failed to remove such items.
-
- AMENDMENT. Franchisor's prior written consent, which will not be unreasonably withheld, must be obtained by Landlord and Tenant to cancel, terminate (including Tenant's voluntary surrender), modify or amend the Lease including, without limitation, Franchisor's rights under this Addendum. Any attempted cancellation, termination, modification, acceptance of surrender or amendment without Franchisor's consent shall be null and void and have no effect as to Franchisor's interest thereunder.
-
- RELATIONSHIP OF TENANT AND FRANCHISOR. Landlord acknowledges that Tenant is not an agent or employee of Franchisor and Tenant has no authority or power to act for, or to create any liability on behalf of, or to in any way bind Franchisor or any affiliate of Franchisor, and that Landlord has entered into this Addendum with the full understanding that it creates no duties, obligations or liabilities of or against Franchisor or any Franchisor Party.
-
- BENEFITS AND SUCCESSORS. The benefits of this Addendum inure to Franchisor and to its successor and assigns.
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the lease addendum primarily benefits the franchisor, Floyds 99 Franchising, LLC. The addendum outlines specific rights and obligations concerning the leased premises, particularly regarding the removal of trade dress and personal property upon termination or expiration of the lease or franchise agreement. This ensures that Floyds 99 can protect its brand identity and control the appearance of the premises, even if the franchisee defaults or the agreement ends.
Specifically, the lease addendum grants Floyds 99 the right, but not the obligation, to enter the premises and remove furniture, fixtures, equipment, trade names, trade dress, and other brand-related items at its own cost. Floyds 99 also agrees to repair any damage caused by such removal. This provision allows Floyds 99 to quickly reclaim and repurpose the location for another franchisee or other use, minimizing potential brand damage from a closed or non-compliant location.
Furthermore, the lease addendum stipulates that the landlord must obtain Floyds 99's prior written consent before canceling, terminating, modifying, or amending the lease, especially concerning Floyds 99's rights under the addendum. This ensures that the franchisor maintains control over the lease terms and can protect its interests. The addendum also clarifies that the franchisee is not an agent or employee of Floyds 99, limiting any potential liability for the franchisor related to the franchisee's actions. The benefits of the addendum extend to Floyds 99's successors and assigns, ensuring long-term protection of the brand's interests.