Where is the 'Event of Default' defined in the Goldfish Swim School Area Development Agreement?

According to the 2025 Goldfish Swim School Franchise Disclosure Document, the term 'Event of Default' within the context of the Area Development Agreement is defined in Section 10. This means that prospective developers should carefully review Section 10 of the agreement to understand what actions or failures on their part could be considered a breach of contract, potentially leading to termination of the agreement and loss of their development rights.

Understanding the 'Event of Default' is crucial for any potential Goldfish Swim School developer. It outlines the specific circumstances under which the franchisor can declare the developer in default, which could have significant financial and operational consequences. These events typically include failure to meet development schedules, non-payment of fees, or violation of brand standards.

As a prospective franchisee, it is important to carefully review Section 10 and seek legal counsel to fully understand your obligations and the potential ramifications of failing to meet them. This will help you assess the risks associated with the development agreement and ensure that you can comply with its terms. Knowing what constitutes an 'Event of Default' allows you to proactively manage your business and avoid actions that could jeopardize your franchise agreement with Goldfish Swim School.