What is the uncured default period after written notice from Payee to Maker regarding covenants or agreements related to the note with Aerus?

According to Aerus's 2025 Franchise Disclosure Document, if a default occurs in the performance of any of the covenants or agreements of the Maker (franchisee) related to the note or any document executed in connection with it, the default must continue uncured to the reasonable satisfaction of the Payee (Aerus) for a period of fifteen (15) days after written notice is provided from Payee to Maker.

This means that if an Aerus franchisee fails to meet certain obligations outlined in their agreements with Aerus, such as financial responsibilities or adherence to operational standards, they have a 15-day window to correct the issue after receiving a formal written notice from Aerus. If the franchisee rectifies the default to Aerus's satisfaction within this period, it will not be considered an event of default.

However, if the default remains unresolved after the 15-day cure period, Aerus has the right to declare an event of default, which could lead to serious consequences, including acceleration of the debt, foreclosure of liens, or even termination of the franchise agreement. It is crucial for prospective Aerus franchisees to understand their obligations and maintain open communication with Aerus to address any potential issues promptly and avoid defaults.