How does Extreme Art Studio deliver a written notice of waiver?

According to the 2024 Extreme Art Studio Franchise Disclosure Document, Extreme Art Studio or the franchisee can waive obligations or restrictions under the Franchise Agreement by written instrument. The waiver becomes effective upon delivery of the written notice to the other party, or on another effective date stated in the notice of waiver.

This means that if Extreme Art Studio decides to waive a specific requirement for a franchisee, they must provide a written notice specifying the waiver and its effective date. Similarly, a franchisee seeking a waiver from Extreme Art Studio must also provide a written notice. The waiver is not indefinite, as it can be revoked at any time with ten days' prior written notice.

This clause ensures that all waivers are documented and that both parties are aware of their rights and obligations. The written notice requirement provides a clear record of any changes to the original agreement and helps prevent misunderstandings or disputes. The ability to revoke a waiver with ten days' notice provides flexibility for Extreme Art Studio to reinstate the original terms if necessary, while giving the franchisee time to adjust.