What is the duration of the Better Blend franchisor's option to cure a default under the lease?
Better_Blend Franchise · 2024 FDDAnswer from 2024 FDD Document
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- Notice of Default and Opportunity to Cure. Landlord shall provide Franchisor with copies of any written notice of default ("Default") given to Tenant under the Lease, and Landlord grants to Franchisor the option (but not the obligation) to cure any Default under the Lease (should Tenant fail to do so) within 10 days after the expiration of the period in which Tenant may cure the Default.
Source: Item 23 — RECEIPTS (FDD pages 43–157)
What This Means (2024 FDD)
According to Better Blend's 2024 Franchise Disclosure Document, if a franchisee defaults on their lease, the landlord must provide Better Blend with a copy of the default notice. Better Blend then has the option, but not the obligation, to cure the default if the franchisee fails to do so.
Better Blend has 10 days after the expiration of the period in which the franchisee may cure the default to take action. This means Better Blend's cure period runs concurrently with the franchisee's cure period.
This clause protects Better Blend by allowing them to maintain control over the location of the franchise, which is critical to the brand's success. By stepping in and curing a default, Better Blend can prevent the loss of a valuable location and ensure the continued operation of the franchise.