What documents must a Pump It Up franchisee provide to the franchisor relating to a transfer?
Pump_It_Up Franchise · 2025 FDDAnswer from 2025 FDD Document
mplete performance and breach of, each and every provision of this Agreement; and (c) notwithstanding any transfer for convenience of ownership, each individual will continue to be jointly and severally bound by, and personally liable for, the timely and complete performance and breach of, each and every provision of this Agreement.
- B. Governing Documents. If you are an Entity, you must provide us with true, correct, and fully executed copies of your organizational and governing documents ("Governing Documents"). These Governing Documents should be provided to us no later than your execution of this Agreement.
Source: Item 23 — RECEIPTS (FDD pages 60–225)
What This Means (2025 FDD)
According to Pump It Up's 2025 Franchise Disclosure Document, if the franchisee is an entity such as a corporation, limited liability company, or partnership, they must provide true, correct, and fully executed copies of their organizational and governing documents to Pump It Up. These documents should be provided no later than the execution of the Franchise Agreement. If these governing documents are modified or changed, the franchisee must promptly provide copies of the modified and/or changed documents to Pump It Up.
In the event of a transfer of the franchise, Pump It Up requires that if the proposed transferee is an entity, the transferee must complete Exhibit 4 as required by Section 14.B. Additionally, all individuals identified in Section 14.C. must sign the guaranty attached as Exhibit 5. Pump It Up will choose which documents the franchisee and the proposed transferee are required to sign, which could include an assignment agreement and any amendments to the Franchise Agreement deemed necessary by Pump It Up to reflect the transfer, or Pump It Up's then-current standard form of franchise agreement for an initial term ending on the expiration date of the initial term of the agreement.
These requirements ensure that Pump It Up maintains control over the franchise system and that all franchisees, including transferees, meet their standards. By requiring specific documents and agreements, Pump It Up aims to protect its brand and ensure consistency across all franchise locations. The transfer process also includes additional requirements such as demonstrating the ability to obtain possessory rights in the premises, correcting any existing deficiencies, and potentially upgrading the facility to current standards.