What must the landlord agree to provide to Pump It Up regarding the lease for a Pump It Up franchise?
Pump_It_Up Franchise · 2025 FDDAnswer from 2025 FDD Document
The landlord also agrees that if you fail to make these alterations and modifications within 10 days after the expiration or earlier termination of this Agreement, we will have the right to do so without being guilty of trespass or other tort so long as we make repairs to the Premises caused by such removal.
(g) The landlord agrees not to amend or otherwise modify the Lease in any manner that would affect any of the foregoing requirements without our prior written consent, which consent will not be unreasonably withheld.
(h) You may assign the lease to us or our designee with the landlord's consent (which consent will not be unreasonably withheld) and without payment of any assignment fee or similar charge or increase in any rentals payable to the landlord.
(i) The landlord agrees to consent to your collaterally assigning the lease to us or our designee, granting us the option, but not the obligation, to assume the lease from the date we take possession of the Premises, without payment of any assignment fee or similar charge or increase in any rentals payable to the landlord.
Our current form of Collateral Assignment of Lease is attached to this Agreement as Exhibit 2.
Source: Item 23 — RECEIPTS (FDD pages 60–225)
What This Means (2025 FDD)
According to the 2025 Pump It Up Franchise Disclosure Document, the landlord must agree to several conditions regarding the lease of the premises. Specifically, the landlord must agree not to amend or modify the lease in any way that would affect the requirements outlined in the franchise agreement without Pump It Up's prior written consent, which will not be unreasonably withheld. This provision ensures that the franchisee cannot make changes to the lease that would negatively impact Pump It Up's interests without their approval.
Additionally, the landlord must agree to allow the franchisee to assign the lease to Pump It Up or its designee with the landlord's consent, which again, will not be unreasonably withheld. This assignment can occur without any assignment fee, similar charge, or increase in rentals payable to the landlord. The landlord must also consent to the franchisee collaterally assigning the lease to Pump It Up or its designee, granting Pump It Up the option, but not the obligation, to assume the lease from the date they take possession of the premises, also without any assignment fee, similar charge, or increase in rentals.
These stipulations are crucial for Pump It Up as they provide the company with control over the lease and the ability to step in and assume the lease if the franchisee defaults or transfers the business. This protects Pump It Up's investment and ensures the continuity of the franchise operations at that location. The FDD also mentions that a Collateral Assignment of Lease form is attached as Exhibit 2, providing further detail on this agreement.