What documents related to leases and subleases must Noodles & Company deliver to the buyer at closing?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
At Closing, Seller shall deliver to Buyer the following documents duly executed by Seller:
- 1.a Leases. The Leases.
- 1.b Subleases. The Subleases.
Source: Item 23 — RECEIPT (FDD pages 99–350)
What This Means (2025 FDD)
According to Noodles & Company's 2025 Franchise Disclosure Document, at the closing, the seller must deliver to the buyer the leases and subleases. Specifically, the seller must provide the documents duly executed by the seller that include "The Leases" and "The Subleases."
This means that if you are purchasing an existing Noodles & Company restaurant, the seller is obligated to transfer the existing lease agreements to you at the time of closing. These documents outline the terms and conditions under which the restaurant occupies its current location. As a prospective franchisee, it is crucial to carefully review these documents to understand the lease terms, rental rates, renewal options, and any other obligations associated with the property.
Understanding the lease and sublease agreements is essential for assessing the financial viability and operational aspects of the franchise. You should consult with legal and financial advisors to fully comprehend the implications of these documents before finalizing the purchase. This will help ensure a smooth transition and avoid any potential disputes or misunderstandings related to the property's lease terms.