In the Punch King Fitness rider agreement, what parties are jointly and severally considered the 'Tenant'?

According to the 2024 Punch King Fitness Franchise Disclosure Document, the "Tenant" in the Rider to Franchise Premises Lease Agreement is identified as Punch King Fitness, Inc. This designation is significant because it outlines the responsibilities and rights of Punch King Fitness, Inc. concerning the lease agreement for the franchise location.

Specifically, the Rider to Franchise Premises Lease Agreement is an addendum to the lease agreement between the landlord and the tenant, which in this case, is Punch King Fitness, Inc. This agreement grants Punch King Fitness certain rights to the Franchise Premises, as required by the Franchise Agreement. This setup ensures that Punch King Fitness, Inc. has specific rights related to the property, which can include the ability to de-identify the premises upon termination or non-renewal of the lease, ensuring the location no longer resembles a Punch King Fitness franchise if the franchisee leaves or the agreement ends.

For a prospective franchisee, this means that Punch King Fitness, Inc. plays a direct role in the leasing arrangements, providing an additional layer of security and control over the franchise location. It also clarifies that Punch King Fitness, Inc. has the authority to ensure the premises are appropriately de-identified to protect its brand and proprietary designs if a franchise agreement concludes.