How soon must an Itan franchisee notify Itan after becoming aware of a Reportable Event?

According to Itan's 2025 Franchise Disclosure Document, a 'Reportable Event' is defined in §15.6, and franchisees are required to report any event or occurrence described therein to Itan. However, the excerpt does not specify a particular timeframe within which an Itan franchisee must notify Itan after becoming aware of a Reportable Event.

Without a specified timeframe, it is crucial for prospective Itan franchisees to understand the nature of events considered 'Reportable' under §15.6 and the expected urgency in reporting them. The absence of a defined reporting window could lead to ambiguity and potential disputes regarding timely notification.

Therefore, a prospective franchisee should ask Itan for clarification on the expected timeframe for reporting such events. Understanding this expectation is vital for maintaining a good relationship with the franchisor and adhering to the franchise agreement's requirements.