What is the maximum number of extensions permitted for any Development Period for a Big Air Trampoline Park?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
poline Facility ceases to be operated as a Big Air Trampoline Facility during the term of this Agreement, Multi-Unit Developer shall develop a replacement Big Air Trampoline Facility within a reasonable time, not to exceed twelve months, after the transferred Big Air Trampoline Facility ceases to be operated as a Big Air Trampoline Facility. In either case, the reasonable time period shall apply to the development of the replacement Big Air Trampoline Facility only and, in Franchisor's sole discretion, extend the term of the applicable Development Period to the end of the mutually agreed upon time period; provided that in no event shall such time period exceed one year.
(d) Opening Schedule.
(i) Multi-Unit Developer shall open each Big Air Trampoline Facility and shall commence business in accordance with the Development Schedule set forth on Attachment B, unless, subject to Franchisor's approval, Multi-Unit Developer obtains an extension of the Development Period from Franchisor to complete construction and commence operation of a particular Big Air Trampoline Facility. Each extension shall be for an additional 30-day period commencing upon the expiration of the applicable Development Period, including any previous extensions thereof ("Extension Date"). No more than two extensions of any Development Period will be permitted. If an extension of a Development Period is granted by Franchisor, the Opening Date for the Big Air Trampoline Facility (as defined in the Franchise Agreement) shall be extended to the Extension Date. No extension of any Development Period shall affect the duration of any
other Development Period or any of Multi-Unit Developer's other development obligations. If an extension is requested in the final Development Period, the term of this Agreement shall be extended to the Extension Date, and thereafter Multi-Unit Developer shall have no further rights under this Agreement except as provided in Section 2. The provisions of this Section 4.2(d)(i) do not apply to the development of a replacement Big Air Trampoline Facility under Section 3.2(c). Each extension may be conditioned upon payment of a $5,000 extension fee ("Extension Fee") as set forth in the Operations Manual.
- (ii) Multi-Unit Developer shall notify Franchisor in writing at least 30 days prior to the Projected Opening Date (defined below) for a Big Air Trampoline Facility if Multi-Unit Developer will be unable to complete construction and commence operation of the Big Air Trampoline Facility by the expiration date of the Development Period in which such Big Air Trampoline Facility was to have been opened
Source: Item 23 — RECEIPT (FDD pages 53–255)
What This Means (2025 FDD)
According to the 2025 FDD, a Multi-Unit Developer for Big Air Trampoline Park can obtain a maximum of two extensions for any Development Period. Each extension provides an additional 30-day period to complete construction and commence operation of a Big Air Trampoline Park facility.
To request an extension, the Multi-Unit Developer must notify Big Air Trampoline Park in writing at least 30 days before the Projected Opening Date, explaining the reasons for the delay and including the expected completion date if the extension is granted. This request must also include payment of an Extension Fee, which is $5,000 as set forth in the Operations Manual.
It's important to note that failure to adhere to the Development Schedule, including any approved extensions, constitutes a material event of default under the agreement. Additionally, any extension granted for a Development Period does not affect the duration of other Development Periods or other development obligations. If an extension is requested during the final Development Period, the term of the agreement will be extended to the Extension Date, after which the Multi-Unit Developer will have no further rights under the agreement, except as provided in Section 2.