What happens if a Cool Binz franchisee defaults on a loan from Cool Binz or its preferred lender?

to cover a check or EFT payment to us three (3) or more times within any 12-month period or you fail to achieve minimum sales for three (3) consecutive months.

C. TERMINATION IF NOT CURED.

We have the right to terminate this Agreement if any of the following defaults remains uncured after your receipt of a default notice from us, and if such defaults are not cured. Unless otherwise specified below, all defaults must be cured within thirty (30) days of our delivery of the default notice:

• 1. You fail to make payment of any amounts due to us, our affiliates, or our affiliates' franchisees, or funds are not available in your account for debiting when they are due, and such deficiency is not cured within five (5) days, or you do not record in the COOL BINZ Software funds paid to you for jobs completed within 48 hours of their receipt, or you default on any loan made to you by us or our preferred lender, if applicable, in connection with your COOL BINZ Business;
• 1. You fail to have in your employ for a period of two (2) consecutive months a Designated General Manager, if you are required to have one.
• 1. You fail, within 15 days after notification of non-compliance by federal, state or local government authorities to comply with any law or regulation applicable to the COOL BINZ Business;
• 1. You fail to comply with any part or condition, warranty, or certification requirement in this Agreement, the COOL BINZ owners' intranet website, Operations Manual and/or other COOL BINZ confidential materials;
• 1. You fail to comply with modifications to System Standards on the COOL BINZ owners' intranet website, or in the Operations Manual within the required time period;
• 1. You fail to make payments on the vehicle resulting in repossession and you do not have a vehicle that meets our standards to operate the Business;
• 1. You fail to receive our prior written approval and use products or materials that do not meet our System Standards and/or do not promptly discontinue use after written notice from us;
• 1. You fail to timely provide us with any report, statement, or return required by this Agreement;
• 1. You fail to service all Customers in a manner consistent with our System Standards and reputation and you fail to cure such inconsistency;
• 1. You market or advertise in a COOL BINZ Affiliates' Territory without permission;
• 1. You establish an office location outside of your Territory without our prior written consent;

Source: Item 23 — RECEIPTS (FDD pages 63–238)