When must a Camp Margaritaville franchisee provide written notice of their election to renew the Franchise Agreement?

Section 1.03 Renewal Term and Conditions. The Franchisee may, but is not obligated to, renew this Agreement for 1 additional period of 10 years (the "Renewal Term"; and together with the Initial Term, the "Term"), provided that Franchisee has satisfied each of the following conditions (all of which shall be referred to as the "Renewal Conditions");

• (a) Franchisee provides Franchisor written notice of its election to renew the Franchise Agreement for the Renewal Term between 12 and 18 months prior to the expiration of this Agreement (the "Renewal Notice");

• (b) Prior to giving the Renewal Notice and for the remainder of the Initial Term:

  • (i) Franchisee has fully performed all of its obligations under this Agreement;

• (ii) Franchisee has satisfied all monetary obligations in a timely and responsible manner to Franchisor, its affiliates, subsidiaries, and designees;

• (iii) Franchisee, its Affiliates, or Guarantors are not in default of this Agreement or any other agreement with Franchisor or its Affiliates and the Resort is in full compliance with the Camp Margaritaville System, the System Standards, and Manual;

• (iv) Franchisee is not in default of any material obligations or materially delinquent on any undisputed payments due under any agreement with any third party related to the Resort, including without limitation, vendors, suppliers, lessors, or mortgage holders; and

• (v) Franchisee provides certification of compliance with all conditions precedent to Franchisor with Renewal Notice.

• (c) Franchisee must not have received more than 2 Notices of Default from Franchisor during the Initial Term;

• (d) Franchisee meets Franchisor's then-current standards for accepting new franchisees, including without limitation, credit worthiness, access to capital, and criminal history;

Source: Item 23 — RECEIPTS (FDD pages 72–406)