Pretzel Time initial training, the appointment of Franchisee as a Pretzel Time franchisee and the granting of the franchise business to Franchisee shall be null and void, all documents executed between Franchisee and Pretzel Time or its designees with respect to the transaction shall be terminated and cancelled. The Franchisee acknowledges and agrees that no portion of the Franchise fee shall be refunded if Franchisee fails to complete Pretzel Time's initial training class to the satisfaction of Pretzel Time. If the Franchisee completes the initial training to the satisfaction of Pretzel Time, Pretzel Time will provide to Franchisee fully signed copies of the Franchise Agreement. It is understood and agreed by the parties that the granting of the franchise and all contracts and agreements entered into by and between the parties with respect to the Unit are specifically contingent upon the signing of a lease for the Site. In the event that a lease for the Site cannot be obtained on or before sixty (60) days after delivery of Pretzel Time's approval of the Site at no fault or delay by Franchisee, then all contracts and agreements entered into by Pretzel Time, and Franchisee shall become null and void and of no effect, and all monies deposited by Franchisee less a nonrefundable fee of $2,500 shall be refunded. 23.L. WAIVER BY PRETZEL TIME. No waiver by Pretzel Time of any default or failure to perform by Franchisee, or of any breach of the terms of this Agreement or no failure, refusal or neglect of Pretzel Time to exercise any right, option or power given it under this Agreement, shall preclude Pretzel Time from thereafter requiring strict compliance or from declaring this Agreement and the franchise granted herein revoke or terminated. The failure of Pretzel Time to terminate this Agreement upon