What is the relationship between the Floyds 99 Franchise Agreement and the Lease Addendum?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
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- 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.
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- 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.
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- 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.
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- 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 directly involves Floyds 99 Franchising, LLC, the landlord, and the tenant (franchisee). The Lease Addendum outlines specific rights and obligations of Floyds 99 as they relate to the leased premises.
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 trade indicia associated with the Floyds 99 brand if the Franchise Agreement or the Lease terminates or expires, or if there is a default under either agreement. Floyds 99 is responsible for repairing any damage caused by such removal. The Lease Addendum also stipulates that any cancellation, termination, modification, or amendment of the lease requires Floyds 99's prior written consent, ensuring that Floyds 99 maintains control over changes to the lease that could affect its interests.
Furthermore, the Lease Addendum clarifies that the franchisee is not an agent or employee of Floyds 99 and cannot bind Floyds 99 in any way. The landlord acknowledges that the Lease Addendum does not create any duties, obligations, or liabilities for Floyds 99. The benefits of the Lease Addendum extend to Floyds 99 and its successors and assigns. This arrangement protects Floyds 99's interests in maintaining brand consistency and operational control, even in situations where the franchisee's lease is impacted.