What happens if a Floyds 99 developer breaches any other agreement with the franchisor or its affiliates?

According to the 2025 Floyds 99 Franchise Disclosure Document, if a developer fails to pay any amount owed to Floyds 99 or its affiliates under the Development Agreement or any other agreement, and does not correct such failure within 10 days after written notice, Floyds 99 has the right to terminate the Development Agreement. This termination is effective immediately upon written notice to the developer.

This means that a Floyds 99 developer must maintain good financial standing with the franchisor and its affiliates to avoid potential termination of the Development Agreement. The developer has a 10-day window after receiving written notice to rectify any payment defaults. Failure to do so can result in the loss of development rights.

This clause is significant because it underscores the importance of fulfilling all financial obligations to Floyds 99 and its affiliates. It is a fairly standard clause in franchise agreements, designed to protect the franchisor's financial interests and ensure that developers remain compliant with all contractual terms. Prospective developers should carefully review all agreements to understand their payment obligations and ensure they have sufficient financial resources to meet these obligations promptly.