What happens if a Pump It Up franchisee loses the right to occupy the premises?

Franchisor will not take possession of the Pump It Up Business until and unless Franchisee defaults, and/or receives notice of default (and/or until there is a termination, cancellation or rescission of Franchisee's rights) under the Lease, any sublease, any other document or instrument, or otherwise. In such event, Franchisor (or its designee) shall have the right (but not the obligation) to take possession of the Pump It Up Business, expel Franchisee from the Pump It Up Business, and, in such event, Franchisee shall have no further right, title or interest in or under the Lease or to the Pump It Up Business, all such rights thereby passing to Franchisor or its designee, in each case without Landlord's further consent. Franchisee agrees to do all acts necessary or appropriate to accomplish such assignment on Franchisor's request.

Franchisee agrees that it will not suffer or permit any surrender, termination, amendment or modification of the Lease without the prior written consent of Franchisor. Throughout the term of the Franchise Agreement, Franchisee agrees that it shall elect and exercise all options to extend the term of, or renew or assume in bankruptcy, the Lease not less than 30 days prior to the last day that any option must be exercised, unless Franchisor otherwise agrees in writing. If Franchisee fails to extend, renew, or assume the Lease, Franchisee hereby appoints Franchisor as its true and lawful attorney in fact to exercise such options for the sole purpose of effecting any extension, renewal or assumption, in each case for the account of Franchisee and without any liability or obligation of Franchisor.

Source: Item 23 — RECEIPTS (FDD pages 60–225)