After Spa Lady was purchased by International Fitness Holdings in December 2009, all those with a 'Lifetime Membership' were left with a meaningless piece of paper which used to signify a contract with Spa Lady permitting the card-holder life-time access to any of Spa Lady's gyms. International Fitness Holdings has decided NOT to acknowledge these contracts and instead will offer us 'lifetimers' a really good deal on contract memberships. What would happen if I were to sign a contract with this organization and decide not to honour their contract rules? Maybe I could counter-offer them a really good deal on my payment suggestions? I want this new company held accountable. If you are purchasing an existing company, don't you have to honour the contracts it has already made? If you don't want to, then just buy out the company's assets and absorb them into your own and be done with it.