What is the name of the agreement that could be terminated, affecting the Boulder Designs Promissory Note?

According to Boulder Designs' 2025 Franchise Disclosure Document, the agreement that could be terminated, affecting the Promissory Note, is the Franchise Agreement. If Boulder Designs terminates the Franchise Agreement for reasons stated in Section 16.2 of the Franchise Agreement, or if the Debtor fails to make a payment of principal, interest or any installment thereof when due, and such failure continues for a period of ten (10) days, Boulder Designs may declare the entire unpaid principal balance of, and all accrued but unpaid interest on, the indebtedness evidenced by the Note immediately due and payable without notice or demand, foreclose all liens and security interests securing.

This means that a franchisee's failure to comply with the Franchise Agreement can trigger the immediate repayment of the Promissory Note. This creates a significant financial risk for the franchisee, as they could lose their franchise and be forced to immediately pay the outstanding balance on the loan.

Prospective franchisees should carefully review Section 16.2 of the Franchise Agreement to understand the specific reasons for which Boulder Designs can terminate the agreement. They should also ensure they have a solid financial plan in place to make timely payments on the Promissory Note.