On what date does the Big Apple Bagels Development Agreement term expire?
Big_Apple_Bagels Franchise · 2025 FDDAnswer from 2025 FDD Document
- (1) Subject to the provisions contained herein, this Agreement shall be for a term commencing on the date hereof and expiring on the last day of the last Development Period.
- C. Development Obligations. Developer agrees during the term of this Agreement and any extensions thereof that he will at all times faithfully, honestly, and diligently perform his obligations hereunder and that he will continuously exert his best efforts to promote and enhance the development of BAGELS Stores within the Exclusive Area. Without limiting the foregoing obligation, Developer agrees to have signed leases within the Exclusive Area for the cumulative number of BAGELS Production Stores or BAGELS Satellite Stores at the end of each Development Period set forth in Section 4 of Rider B hereof ("Minimum Development Quota") and to have each
Source: Item 23 — RECEIPTS (FDD pages 87–319)
What This Means (2025 FDD)
According to Big Apple Bagels' 2025 Franchise Disclosure Document, the Development Agreement term commences on the date of the agreement and expires on the last day of the last Development Period. This means the specific expiration date will depend on the terms outlined in each individual agreement, particularly the length and structure of the Development Periods.
Prospective Big Apple Bagels developers should carefully review Section 4 and Rider B of their Development Agreement, as referenced in paragraph C, to understand the duration of their development periods and, consequently, the expiration date of their agreement. The agreement outlines the developer's obligations to sign leases for a specific number of Big Apple Bagels Production Stores or BAGELS Satellite Stores within the Exclusive Area by the end of each Development Period.
Understanding the expiration date is crucial for planning future development activities and assessing the long-term potential of the exclusive area granted to the developer. Failing to meet the Minimum Development Quota during the term of the agreement can result in termination by Big Apple Bagels. Therefore, developers must diligently track their progress against the agreed-upon schedule to avoid any breaches of contract.