What happens if an Alloy franchisee does not cure a default within the specified time?

• B. Termination by Us. We have the right to terminate this Agreement in accordance with the following provisions:
  • 1. Termination After Opportunity to Cure. Except as otherwise provided in this subparagraph 13.B or elsewhere in the Agreement: (i) you will have 30 days from the date of our issuance of a written notice of default to cure any default under this Agreement, other than a failure to pay amounts due or submit required reports, in which case you will have 10 days to cure those defaults; (ii) your failure to cure a default within the 30-day or 10-day period will provide us with good cause to terminate this Agreement; (iii) the termination will be accomplished by mailing or delivering to you written notice of termination that will identify the grounds for the termination; and (iv) the termination will be effective immediately upon our issuance of the written notice of termination.
  • 1. Immediate Termination With No Opportunity to Cure. In the event any of the following defaults occurs, you will have no right or opportunity to cure the default and this Agreement will terminate effective immediately on our issuance of written notice of termination:
    • i. any material misrepresentation or omission in your franchise application;
  • ii. your voluntary abandonment of this Agreement or the Facility which shall include, but not be limited to, your Facility being closed for a period of five consecutive days without our prior written consent;
  • iii. the loss of your lease, the failure to timely cure a default under the lease, the loss of your right of possession or failure to reopen or relocate under subparagraph 5.D;
  • iv. the closing of the Facility by any state or local authorities for health or public safety reasons;
  • v. failure to locate a site for your Facility within 180 days after signing this Agreement or your failure to open the Facility within 365 days after signing this Agreement;
    • vi. any unauthorized use of the Confidential Information;
    • vii. failure to maintain required insurance as required in subparagraph 10.C;
  • viii. insolvency of you, an Owner, or guarantor, you, an Owner, or guarantor making an assignment or entering into any similar arrangement for the benefit of creditors;
  • ix. any default under this Agreement that materially impairs the goodwill associated with any of the Trademarks;

Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 51–56)