Does City Wide have to provide an opportunity to cure a default before immediate termination?

erms agreed to between Franchisee and any prospective buyer is excessive or will not enable the buyer to succeed as a franchisee in the Franchised Business, and by requesting CITY WIDE's assistance Franchisee waives any liability claims it may have against CITY WIDE for such rejection. If a sale of the Franchised Business is completed, Franchisee will adhere to the

transfer conditions set forth in Section 13.4 above, including payment of the Transfer Fee and any thirtyparty broker fee.

SECTION 14. Default and Termination

• 14.1 Immediate Termination. Franchisee will be deemed to be in default subject to immediate termination under this Agreement, without prior notice of the default from CITY WIDE and without an opportunity to cure the default, if any of the following events occur:
• 14.1.1 If Franchisee becomes insolvent or make a general assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against Franchisee and is not released within sixty (60) days or is consented to by Franchisee, or if Franchisee are adjudicated a bankrupt, or if a bill in equity or other proceeding for the appointment of a receiver or other custodian for Franchisee or the Franchised Business or assets is filed and consented to by Franchisee, or if a receiver or other custodian (permanent or temporary) of the Franchised Business or a substantial part of the assets is appointed by any court of competent jurisdiction, or if a proceeding for a compromise with creditors under any state or federal law is instituted by or against Franchisee; or
• 14.1.2 If a final judgment against Franchisee remains unsatisfied or of record for ninety (90) days or longer (unless a supersedeas bond is filed), or if execution is levied against the Franchised Business or property, or suit to foreclose any lien or mortgage against Franchisee's Location or equipment is instituted against Franchisee and not dismissed within ninety (90) days; or
• 14.1.3 If any of Franchisee's real or personal property will be sold after levy upon it by any sheriff, marshal, or constable; or
• 14.1.4 If Franchisee or any officer, director, stockholder, or general partner of Franchisee is convicted of or admits to the commission of any felony or crime involving moral turpitude or any other crime that CITY WIDE reasonably determines could have an adverse effect on the Franchised Business, the System, or the Marks;

Source: Item 22 — CONTRACTS (FDD page 65)