Which attachment to the Fly Fitness franchise agreement contains the Authorization Agreement for Automatic Deposits (ACH Withdrawals)?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
[Item 22: CONTRACTS]
AUTHORIZATION AGREEMENT AUTOMATIC DEPOSITS (ACH WITHDRAWALS)
Franchisor Name: Fly Fitness Franchise, L.L.C.
I (We) hereby authorize Fly Fitness Franchise, L.L.C., hereinafter called Franchisor, to initiate debit entries to my (our) Checking Account/Savings Account (Select One) indicated below at the depository financial institution named below, and to debit the same to such account. I (We) acknowledge that the origination of ACH transactions to my (our) account must comply with the provisions of U.S. Law, and that I will be responsible for any banking fees that my institution charges.
[Item 22: CONTRACTS]
PLEASE ATTACH A VOIDED CHECK TO THIS FORM
Please Return Form to: Fly Fitness Franchise, L.L.C. 201 North 13th Street Suite 1A Lincoln, Nebraska 68508
CONDITIONAL ASSIGNMENT OF LEASE
FOR VALUE RECEIVED, the undersigned ("Assignor") hereby assigns and transfers to Fly Fitness Franchise, L.L.C., address of 201 North 13th Street, Suite 1A, Lincoln, Nebraska 68508 ("Assignee"), all of Assignor's right, title, and interest as tenant in, to and under that certain lease, a copy of which shall be attached hereto (the "Lease") respecting premises commonly known as a Nebraska limited liability company, with a notice This Assignment is for collateral purposes only and except as specified herein, Assignee shall have no liability or obligation of any kind whatsoever arising from or in connection with this Assignment or the Lease unless Assignee takes possession of the premises demised by the Lease pursuant to the terms hereof and assumes the obligations of Assignor thereunder.
Assignor represents and warrants to Assignee that Assignor has full power and authority to so Assignor's interest in the Lease or the premises assign the Lease and Assignor's interest therein and that Assignor has not previously assigned or transferred, and is not obligated to assign or transfer, any of demised thereby.
Upon a default by Assignor under the Lease or under the franchise agreement for a Fly Fitness outlet between Assignee and Assignor (the "Franchise Agreement"), or in the event of a default by Assignor under any document or instrument securing the Franchise Agreement, Assignee shall have the right and is hereby empowered to take possession of the Premises demised by the Lease, expel Assignor therefrom, and, in such event, Assignor shall have no further right, title or interest in the Lease.
Assignor agrees that it will not suffer or permit any surrender, termination, amendment, or modification of the Lease without the prior written consent of Assignee.
| Financial Institution Name: | Branch: | ||||
|---|---|---|---|---|---|
| City: | State: | Zip: | Phone: | ||
| ACH/Routing Number: | Account Number: (Nine Digits) | ||||
| Agreement by me (us) may | constitute an event | of Default | This authorization is to remain in full force and effect until Franchisor has received a written replacement ACH Withdrawal Form notification from me. I (We) understand that revocation of this Authorization under the Franchise Agreement. | ||
| Agreement. | I (We) understand that the amount to be withdrawn by Franchisor will not be the same each month and I (We) therefore authorize all monetary transfers pursuant to Articles 6 and 18 of the Franchise | ||||
| Print Franchisee / Account | Holder Name | Print Franchisee/Co-Account Holder Name | |||
| Franchisee/ Account | Holder Signature-Date | Franchisee/Co-Account Holder Signature-Date | |||
| Daytime Phone Number | Address |
Source: Item 22 — CONTRACTS (FDD pages 44–45)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, the document includes an Authorization Agreement for Automatic Deposits (ACH Withdrawals). This agreement authorizes Fly Fitness Franchise, L.L.C. to initiate debit entries to the franchisee's checking or savings account for payments. The franchisee is responsible for any banking fees charged by their institution.
The document also requires the franchisee to attach a voided check to the form and return it to Fly Fitness Franchise, L.L.C. at their address in Lincoln, Nebraska. The form includes fields for the financial institution's name, city, state, zip code, phone number, ACH/Routing Number, and Account Number.
The agreement specifies that it remains in effect until Fly Fitness receives a written replacement ACH Withdrawal Form. Revocation of the authorization may constitute an event of default under the Franchise Agreement. The franchisee acknowledges that the amount withdrawn may vary monthly and authorizes all monetary transfers pursuant to Articles 6 and 18 of the Franchise Agreement. The form also includes signature lines for the franchisee and co-account holder, along with spaces for printed names, daytime phone number, and email address.