What section of the Gokhale Method Franchise Agreement defines curable defaults?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
| PROVISION | SECTIONIN FRANCHISE AGREEMENT | SUMMARY |
|---|---|---|
| f.Terminationbyfranchisorwith cause | Section15 | We may terminate for cause. Depending on the reason for termination, we may not provide you an opportunity tocure. Seethisitem17(g)and(h)forfurtherdescription. |
| g.“Cause”defined–curabledefaults | Section15.3 | You have 30 days to cure any default not enumerated in Section15.1andSection15.2. |
| h.“Cause”defined–non-curable defaults | Section15.1and Section15.2 | We may terminate the Franchise Agreement without providing you an opportunity to cure for any of the deficiencies identified in Sections 15.1 or 15.2 of the FranchiseAgreement. |
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER, AND DISPUTE RESOLUTION (FDD pages 27–29)
What This Means (2024 FDD)
According to the 2024 Gokhale Method Franchise Disclosure Document, Section 15.3 of the franchise agreement defines curable defaults. If a franchisee commits a default that is not listed in Section 15.1 or Section 15.2, Gokhale Method must provide the franchisee with 30 days to correct, or 'cure,' the default.
This means that a Gokhale Method franchisee has a limited time frame to resolve certain breaches of the agreement before Gokhale Method can terminate the agreement. It is important to note that not all defaults are curable.
Prospective franchisees should carefully review Sections 15.1, 15.2, and 15.3 of the Gokhale Method franchise agreement to understand what constitutes a curable default, what constitutes a non-curable default, and what actions could lead to a termination of the franchise agreement.