What is the definition of 'Notice to Cure' in the City Wide Franchise Agreement?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee will be deemed to be in default under this Agreement and CITY WIDE may elect to terminate this Agreement and all rights granted under this Agreement if within thirty (30) days after CITY WIDE sends Franchisee written notification setting out the nature of the default ("Notice to Cure"), or within any such period set forth in this Agreement or permissible by law, Franchisee does not correct the default to CITY WIDE's satisfaction:
Source: Item 22 — CONTRACTS (FDD page 65)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, a 'Notice to Cure' is a written notification from City Wide to the franchisee that outlines the nature of a default under the Franchise Agreement. The franchisee then has a specific period to correct the default to City Wide's satisfaction.
The standard cure period granted to a City Wide franchisee is thirty days after City Wide sends the written notification. However, the cure period can vary if a different timeframe is specified elsewhere in the Franchise Agreement or is permissible by law. It is important for prospective franchisees to understand that the cure period may not always be 30 days.
If the franchisee fails to correct the default within the specified cure period, City Wide has the option to terminate the Franchise Agreement and all rights granted to the franchisee under the agreement. This highlights the importance of addressing any defaults promptly and effectively to avoid potential termination of the franchise agreement.