What must a Fly Fitness franchisee do to cooperate with Fly Fitness and the landlord to effect the assignment and assumption of the lease?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
| to that Conditional Assignment of Lease from | (Assignor) to | ||
|---|---|---|---|
| Fly Fitness Franchise, L.L.C. (Assignee) dated The undersigned Landlord under the aforedescribed Lease further hereby: | for the property known as | ||
| (a) | default by Assignor under the Lease; | Agrees to notify Assignee in writing of and upon the failure of Assignor to cure any | |
| (b) | notice thereof in accordance with paragraph (a) above; | Agrees that Assignee shall have the right, but shall not be obligated, to cure any default by Assignor under the Lease within 30 days after delivery by Landlord of | |
| (c) | Assignee period the non-monetary defaults, if any, of Assignor under the Lease; | Consents to the foregoing Conditional Assignment and agrees that if Assignee takes possession of the Premises demised by the Lease and confirms to Landlord the assumption of the Lease by Assignee as tenant thereunder, Landlord shall recognize as tenant under the Lease, provided that Assignee cures within the 30-day | |
| (d) | no further liability or obligation under the Lease as assignee, tenant or otherwise. | Agrees that Assignee may further assign the Lease to a person, firm or corporation who shall agree to assume the tenant's obligations under the Lease and who is reasonably acceptable to Landlord and upon such assignment Assignee shall have | |
| (e) | other crime or tort to de-identify the Premises as a Fly Fitness Assignee shall repair any damage caused thereby. | Permits Assignee to enter upon the Premises without being guilty of trespass or any outlet if Tenant fails to do so following termination of the Franchise Agreement or Lease, provided that | |
| DATED: | LANDLORD: | ||
Source: Item 22 — CONTRACTS (FDD pages 44–45)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, a franchisee (Assignor) assigns their rights, title, and interest as a tenant to Fly Fitness Franchise, L.L.C. (Assignee) under the lease. The franchisee must not allow any surrender, termination, amendment, or modification of the lease without Fly Fitness's prior written consent.
In the event of a default by the franchisee under the lease or the franchise agreement, Fly Fitness has the right to take possession of the premises and expel the franchisee, who will then have no further rights to the lease. The landlord agrees to notify Fly Fitness of any franchisee default and allows Fly Fitness the right, but not the obligation, to cure any default within 30 days.
The landlord consents to the conditional assignment, agreeing to recognize Fly Fitness as the tenant if Fly Fitness takes possession and confirms the assumption of the lease, provided Fly Fitness cures any non-monetary defaults within 30 days. Fly Fitness can further assign the lease to another party reasonably acceptable to the landlord, after which Fly Fitness will have no further liability under the lease. If the franchisee fails to maintain the premises after the termination of the Franchise Agreement or Lease, Fly Fitness is permitted to enter the premises to repair any damage without being guilty of trespass.