What is the cure period for a default under any material contract, agreement, or instrument to which an Aerus Franchisee is a party?
Aerus Franchise · 2025 FDDAnswer from 2025 FDD Document
Debtor shall be declared to be in default under any material contract, agreement or instrument to which Debtor is a party or by which Debtor or its property is bound including, without limitation, the Note, the Asset Purchase Agreement, the Franchise Agreement, and any other documents or instruments evidencing or securing any obligation of Debtor to Secured Party, Aerus LLC, or their affiliates under or in connection with this Security Agreement or any of the foregoing documents and instruments and such default shall continue for thirty (30) days after receipt of notice of such failure from the other party to the said contract, agreement or instrument.
Source: Item 23 — Receipts (FDD pages 74–305)
What This Means (2025 FDD)
According to Aerus's 2025 Franchise Disclosure Document, an Aerus franchisee has a 30-day cure period after receiving notice of default under any material contract, agreement, or instrument to which they are a party. This includes contracts with Aerus LLC, its affiliates, or the secured party.
Specifically, if the franchisee is declared in default under any material agreement, they have thirty days after receiving notice of such failure to remedy the situation. This default could arise from various agreements, including the Note, the Asset Purchase Agreement, the Franchise Agreement, or any documents securing obligations to Aerus LLC or its affiliates.
This 30-day cure period provides the franchisee an opportunity to correct the default and avoid further action by Aerus, such as termination of the franchise agreement. It is important for prospective franchisees to understand the terms of all agreements they enter into with Aerus and to promptly address any potential defaults to maintain their franchise rights.