What is the timeframe for restoring possession to the Big O Tires tenant to avoid default?
Big_O_Tires Franchise · 2025 FDDAnswer from 2025 FDD Document
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NOW, THEREFORE, in consideration of the sum of one dollar ($1.00), in hand paid by Big O to Landlord and to Tenant, and other good and sufficient consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
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- No act, failure to act, event, condition, non-payment or other occurrence ("Event") shall constitute a breach or default under the Lease so as to allow to Landlord any right of acceleration of obligations thereunder, termination, cancellation or rescission:
- (a) unless the Event is the non-payment of rent, and such Event is not cured within ten (10) days after Notice of Default (as hereinafter defined) has been received by Big O;
- (b) unless the Event is anything other than the non-payment of rent, and such Event is not cured within thirty (30) days after Notice of Default (as hereinafter defined) has been received by Big O, provided, however, if the Event is of such nature that it cannot reasonably be cured within such thirty (30) day period, then, in that case such thirty (30) day period shall be extended to a period of such length as is reasonably necessary to cure such Event, provided, however, such period shall be extended only so long as Tenant and/or Big O diligently pursues the cure of such Even
Source: Item 23 — RECEIPTS (FDD pages 102–535)
What This Means (2025 FDD)
According to Big O Tires's 2025 Franchise Disclosure Document, the timeframe for a Big O Tires tenant to cure an event of default with the landlord depends on the nature of the event. If the event is non-payment of rent, the tenant has ten days after receiving a Notice of Default to cure the non-payment. If the event is anything other than non-payment of rent, the tenant has thirty days after receiving a Notice of Default to cure the event.
However, if the event (other than non-payment of rent) cannot reasonably be cured within thirty days, the cure period is extended to such length as is reasonably necessary to cure the event, provided that the tenant and/or Big O Tires diligently pursues the cure of such event. This means that a Big O Tires franchisee has a limited time to resolve issues before the landlord can take action, but there is some flexibility if the issue is complex and requires more time to resolve.
It is important to note that Big O Tires has the right to cure the default on behalf of the tenant. Landlords must send a Notice of Default to Big O Tires, LLC, at 4260 Design Center Drive, Palm Beach Gardens, Florida 33410, Attention: Real Estate Department, with a copy to the General Counsel at the same address. This ensures that Big O Tires is aware of any potential defaults and can take steps to protect its interests and the interests of its franchisee. This arrangement benefits the franchisee by providing an additional layer of protection against lease termination.