What is the form of written notice required for breaches of the All Team Funding Agreement?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
nce with the specifications of such Customer; (ii) is enforceable for the full amount thereof and shall at the time submitted to ATFC be subject to no Dispute; (iii) is free of all security interests, liens and encumbrances except for the lien granted to ATFC under this Funding Agreement or the Security Agreement; and (iv) is payable in United States Dollars and has been invoiced to the Customer by an invoice that bears notice of the sale and assignment to ATFC in compliance with the terms of this Funding Agreement.
X. Termination.
- A. Default by USER. In the event of a breach of any of the terms of this Funding Agreement by USER, if the breach is not cured within ten (10) days of written notice to USER specifying the nature of such breach, ATFC may, in addition to pursuing any other remedies it may have, at its election, suspend its performance hereunder until the breach is cured or terminate this Agreement. The occurrence of the same or a similar breach by USER, even if subsequently cured, twice within any twelve (12) month period shall give ATFC the right to terminate this Agreement immediately upon giving written notice to USER specifying the nature of such breach, without any opportunity to cure. Upon the termination or expiration of the Franchise Agreement or the termination of the Processing Agreement, for any reason, ATFC shall have the right to terminate this Agreement immediately upon written notice to USER.
- B.
Source: Item 23 — RECEIPT (FDD pages 34–161)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, in the event of a breach of the Funding Agreement by the franchisee (referred to as USER), All Team Franchise Corporation (ATFC) must provide written notice specifying the nature of the breach. The franchisee then has ten days to cure the breach. If the breach remains uncured after this ten-day period, All Team has the option to suspend its performance under the agreement or terminate the agreement altogether.
Conversely, if All Team breaches the Funding Agreement, the franchisee must provide written notice to both All Team and Centennial, specifying the nature of the breach. All Team then has ten days to cure the breach. If All Team fails to cure the breach within this period, the franchisee can terminate the Funding Agreement. This termination becomes effective at the end of the ten-day cure period.
All notices, consents, requests, demands, and other communications must be in writing. These notices are considered duly given when delivered in person, two days after being deposited in the U.S. mail with first-class postage prepaid, or one business day after delivery to a telegraph company or overnight courier service with payment provided. The notices should be addressed as specified in the Funding Agreement or to such other address as either party may designate by notice to the other.