Who are the parties involved in the General Release for a Pump It Up franchise?
Pump_It_Up Franchise · 2025 FDDAnswer from 2025 FDD Document
196,357) | 685,682 | | | | Intangible Assets | $ 8,510,039 | $ (2,196,357) | $ 6,313,682 | | | | Amount | Amortization | Amount | | Trademarks and Trade Names | | $ 5,628,000 | $ - | $ 5,628,000 | | Franchise Contract | 2,882,039 | (1,982,741) | 899,298 | | | | Intangible Assets | $ 8,510,039 | $ (1,982,741) | $ 6,527,298 |
Exhibit E General Release Pump It Up Franchise Disclosure Document
GENERAL RELEASE
| THIS GENERAL RELEASE | ("Release") is executed on (the | |
|---|---|---|
| "Release Date") by ("Franchisee") and | ||
| ("Guarantors") as a condition of [PICK ONE: the transfer of the Pump It Up Unit between Franchisee | ||
| and Pump It Up Holdings, LLC ("PIU") [or] the transfer or renewal of the Pump It Up Franchise Agreement | ||
| dated ("Franchise Agreement") between Franchisee and PIU [or] between Franchisee | ||
| and Pump It Up Holdings, LLC ("PIU") [or] the termination of | ||
| the Pump It Up Franchise Agreement dated | ||
| ("Franchise Agreement")] between Franchisee and Pump It Up Holdings, LLC | ||
| ("PIU"). |
- Release by Franchisee and Guarantors. Franchisee (if Franchisee is an entity, on behalf of itself and its parent, subsidiaries and affiliates and their respective past and present officers, directors, shareholders, agents and employees, in their corporate and individual capacities and, if Franchisee is an individual, on behalf of themself and their heirs, representatives, successors and assigns) and Guarantors (on behalf of themselves and their respective heirs, representatives, successors and assigns) (collectively, "Franchisee Releasors") freely and without any influence forever release and covenant not to sue PIU and its parent(s), subsidiaries, successors and affiliates, and their respective past and present officers, directors, members, shareholders, agents and employees, in their corporate and individual capacities, (collectively "PIU Releasees") with respect to any and all claims, demands, liabilities and causes of action of whatever kind or nature, whether known or unknown, vested or contingent, suspected or unsuspected (collectively, "Claims"), which any Franchisee Releasor ever owned or held, now owns or holds or may in the future own or hold, including, without limitation, claims arising
Source: Item 23 — RECEIPTS (FDD pages 60–225)
What This Means (2025 FDD)
According to Pump It Up's 2025 Franchise Disclosure Document, the General Release involves several parties. The agreement is executed by the 'Franchisee' and 'Guarantors.' It also involves Pump It Up Holdings, LLC ('PIU').
The General Release is required as a condition of the transfer of a Pump It Up unit between the Franchisee and PIU, the transfer or renewal of the Franchise Agreement between the Franchisee and PIU, or the termination of the Franchise Agreement between the Franchisee and PIU.
Additionally, the Franchisee, including their subsidiaries, affiliates, individuals who execute the agreement, and all guarantors, are collectively referred to as 'Franchisee Releasors.' These parties release PIU, its parent, subsidiaries, affiliates, officers, directors, shareholders, agents, equity holders, and employees, who are collectively referred to as 'PIU Releasees.' This release covers all claims, demands, liabilities, and causes of action related to the franchise agreement and the operation of the Pump It Up Business.