What is the relationship between the Landlord and the Floyds 99 Franchise Agreement?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
or's rights.
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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.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first above written.
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the relationship between the Landlord and the Floyds 99 Franchise Agreement is defined within a Lease Addendum. The Landlord acknowledges that the franchisee (Tenant) is not an agent or employee of Floyds 99 (Franchisor) and cannot create any liability on behalf of Floyds 99. The Landlord enters into the addendum with the understanding that it creates no duties, obligations, or liabilities for Floyds 99. The benefits of the Lease Addendum inure to Floyds 99 and its successors or assigns.
Floyds 99 requires the Landlord's consent for any cancellation, termination, modification, or amendment to the lease, including any changes to Floyds 99's rights under the addendum. Any such changes without Floyds 99's consent are considered void. Floyds 99 has the right, but not the obligation, to enter the premises and remove any trade dress or personal property associated with the Floyds 99 franchise upon the earlier of the termination or expiration of the Franchise Agreement or the Lease, or upon any default under either agreement. Floyds 99 is responsible for repairing any damage caused by such removal.
The tenant (franchisee) must agree to attorn to any assignee of the Landlord, provided that the assignee agrees not to disturb the tenant's possession of the premises. As long as the lease term continues and the tenant is not in default, their use, possession, and enjoyment of the premises will not be interfered with by any lender of the Landlord or any other person. The franchisee has the right to assign the lease or sublet the premises without the Landlord's consent to Floyds 99, its parents, subsidiaries, or affiliates; to duly authorized franchisees of Floyds 99; in connection with a merger, acquisition, reorganization, or consolidation; or in connection with the sale of the franchisee's corporate stock or assets. In the event of such an assignment, the franchisee is automatically released from all obligations under the lease.