In the Buona franchise agreement, what is the required notice period if Buona revokes a waiver?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
If a default is curable under this Agreement, and the applicable law in the state in which the Franchised Business is located requires a longer cure period than that
specified in this Agreement, the longer period will apply.
- 16.8 Right to Operate Upon Default**.** In addition to Franchisor' right to terminate this Agreement and not in lieu of such right or any other rights, in the event that Franchisee has not cured a default under this Agreement within fourteen (14) days after receipt of a written notice of default, Franchisor may, at its option, enter upon the Premises and exercise complete authority with respect to the operation of the Franchised Business until such time as Franchisor determines that the default has been cured and that there is compliance with the requirements of this Agreement.
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
Based on the 2025 Buona Franchise Disclosure Document, there is no mention of a specific notice period required if Buona revokes a waiver. The document does mention circumstances under which Buona can terminate the agreement, such as failure to meet deadlines in the Development Schedule, failure to comply with terms of the agreement, or default under any individual Franchise Agreement. In the event of a default, Buona may terminate the agreement without affording an opportunity to cure the default, effective immediately upon delivery of a written notice.
Additionally, the FDD states that any agreement between the franchisee and Buona relating to past due amounts is considered a material part of the agreement, and a default under any such agreement is considered a material default of the franchise agreement. However, this provision does not require Buona to waive any payments due from the franchisee or enter into any arrearage agreement.
While the FDD outlines various default scenarios and termination rights, it does not explicitly address the process or notice period associated with the revocation of a waiver. A prospective franchisee should seek clarification from Buona regarding the conditions under which a waiver might be granted and subsequently revoked, as well as any associated notice periods or procedures.