According to Benihana's 2024 Franchise Disclosure Document, a franchisee seeking a Successor Franchise Agreement must submit a written application at least 365 days before the expiration of the current Franchise Term. This requirement is part of the process for obtaining a new franchise agreement to continue operating the Benihana restaurant at the same location.

In addition to the application deadline, the franchisee must also sign and return the Successor Franchise Agreement for final approval and execution at least 30 days before the Franchise Term expires. Meeting both deadlines is crucial for a smooth transition to a new franchise term.

Furthermore, to qualify for a Successor Franchise Agreement, the franchisee must not be in default of any obligations under the existing Franchise Agreement within the 24 months preceding expiration. They must also have completed any required remodeling of the restaurant and meet all of Benihana's then-current legal, financial, and operational standards applicable to new franchisees. These standards include adhering to the current form of the franchise agreement and the operating standards for the Benihana system. Failing to meet any of these conditions could jeopardize the franchisee's opportunity to renew their franchise.