What is the dependency between the written notice from Cordova and the 10-day cure period?
Cordova Franchise · 2025 FDDAnswer from 2025 FDD Document
(3) Defaults and Automatic Termination After 10 Day Cure Period Franchisee shall be in default of this Agreement and, this Agreement shall be terminated, upon the occurrence of any one or more of the following actions, inactions, omissions, events, and/or circumstances, unless, Franchisee timely cures, to the satisfaction of Franchisor, such default/action, inaction, omission, event, and/or circumstance within 10 calendar days of Franchisor's written notice:
(a) Franchisee fails, refuses, and/or is unable to timely pay and/or satisfy the Royalty Fee, Advertising Contribution, and/or any other payment, fee, financial obligation, charge, and/or monetary obligation payable and/or due to Franchisor pursuant to the terms of this Agreement, under this Agreement, and/or any other agreement between Franchisor and Franchisee;
Source: Item 23 — RECEIPTS (FDD pages 44–195)
What This Means (2025 FDD)
According to Cordova's 2025 Franchise Disclosure Document, a franchisee has 10 calendar days to correct a default after receiving written notice from Cordova. This cure period applies to specific defaults outlined in the franchise agreement.
Specifically, if a Cordova franchisee fails to pay any fees or financial obligations owed to Cordova, they are considered in default of the agreement. However, the franchise agreement will not be terminated if the franchisee corrects the payment deficiency to Cordova's satisfaction within 10 calendar days of receiving written notice of the default.
This 10-day cure period provides an opportunity for Cordova franchisees to resolve certain breaches of the agreement, avoiding termination, provided they act promptly upon receiving written notification from Cordova. It is important to note that the cure must be completed to Cordova's satisfaction, giving Cordova some discretion in determining whether the default has been adequately addressed.