Under what conditions can Alloy terminate the Franchise Agreement if the Franchised Business is not opened on time?

Your Facility must be opened for business not later than six months after you sign a lease or 12 months after you sign the Franchise Agreement, whichever occurs first. If you are unable to open your Franchised Business within the required time period, we may terminate the Franchise Agreement upon 30 days' prior written notice to you, unless the Facility shall open for business according to the terms of the Franchise Agreement within this 30 day period. You may not open your Facility for business until we have approved it as being ready to open.

You may not open your Facility for business until: (1) you have complied with all requirements regarding site selection and construction of the Facility; (2) we determine that your Facility has been constructed, decorated, furnished, equipped and stocked with equipment, materials and supplies in accordance with plans and specifications we have approved; (3) the initial training program we provided has been completed to our satisfaction by all required persons; (4) the initial franchise fee and all other amounts due to us have been paid; (5) you have furnished us with all certificates of insurance required by the Franchise Agreement; (6) you have obtained all required governmental permits, licenses and authorizations necessary for the operation of your Franchised Business; (7) you are in full compliance with all the terms of the Franchise Agreement; and (8) you have permission to open from us. We reserve the right to require you to have 75 members who have joined during the pre-sale marketing campaign, including a signed monthly membership agreement and a credit card on file.

Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 31–42)