Pretzel Time and its Affiliates and their respective shareholders, officers, directors, employees, agents, successors and assigns. Failure by Franchisee and its Owners to sign and deliver to Pretzel Time, such agreements and releases within thirty (30) days after delivery thereof to Franchisee shall be deemed an election by Franchisee not to obtain a Successor Franchise. 5.C. NOTICES. Franchisee shall give Pretzel Time written notice of its election to obtain a Successor Franchise not more than twelve (12) months and not less than six (6) months prior to the expiration of this Agreement. Pretzel Time agrees to give Franchisee, written notice, not more than thirty (30) days after receipt of Franchisee's notice of (a) Pretzel Time's determination whether or not it will grant Franchisee a Successor Franchise pursuant to this Section and/or (b) any deficiencies in Franchisee's operation of the Unit (or any other failure to comply with the terms of this Agreement) which could cause Pretzel Time to refuse to grant a Successor Franchise. Such notice shall state what actions Franchisee must take to correct the deficiencies and shall specify the time period in which such deficiencies must be corrected. Pretzel Time shall give Franchisee written notice of a decision not to grant a Successor Franchise based upon Franchisee's failure to cure deficiencies not less than ninety (90) days prior to the expiration of the initial term of this Agreement. Such notice shall state the reasons for Pretzel Time's refusal to grant a Successor Franchise. In the event Pretzel Time fails to give Franchisee (a) notice of deficiencies in the Unit or in Franchisee's operation of the Unit, within thirty (30) days after receipt of Franchisee's timely election to obtain a Successor Franchise, or (b) notice of Pretzel Time's decision not to grant a Successor Franchise at least ninety (90)