How must notices be given under the terms of the Baya Bar agreement?
Baya_Bar Franchise · 2024 FDDAnswer from 2024 FDD Document
Development Schedule are reasonable and viable based upon Developer's independent investigation and analysis. Failure by Developer to adhere to the Mandatory Development Schedule (including any extensions thereof approved by Franchisor in writing pursuant to Section 5.3 below) shall constitute a material event of default under this Agreement.
- 5.3 Extension of Mandatory Development Schedule. If Developer is unable to meet the Mandatory Development Schedule for any outlet, Developer may seek a reasonable extension from Franchisor. Any request for an extension must be in writing and submitted to Franchisor at least sixty (60) days prior to the Mandatory Open Date for such outlet. Franchisor shall not unreasonably withhold consent for such reasonable extension provided that Developer has (i) submitted its extension request in a timely manner; (ii) demonstrated diligent efforts to meet the original Mandatory Open Date; and (iii) has at all times acted in good faith and is otherwise fulfilling its obligations under this Agreement.
- 5.4 Conditions to Exercise Developer's Rights.
Source: Item 23 — RECEIPTS (FDD pages 56–189)
What This Means (2024 FDD)
Based on the 2024 Baya Bar Franchise Disclosure Document, any request for an extension to the Mandatory Development Schedule must be submitted in writing to the Franchisor at least 60 days before the Mandatory Open Date for the outlet.
Baya Bar requires that the developer must have submitted the extension request on time, demonstrated diligent efforts to meet the original Mandatory Open Date, acted in good faith, and otherwise fulfilled their obligations under the agreement.
Additionally, the parties to the agreement consent to conduct business electronically, affirming their agreement to the terms by attaching their electronic signature. The parties acknowledge that electronic signatures are considered valid.