What events can cause the 'Term' of the Bigfoot Forestry Area Development Agreement to expire?
Bigfoot_Forestry Franchise · 2025 FDDAnswer from 2025 FDD Document
- "Term" means the period of time beginning on the Effective Date of this Agreement and expiring on the earlier to occur of: (a) the opening date listed in the Development Schedule for the last Bigfoot Forestry Business you are required to open; or (b) the date this Agreement is effectively terminated.
Source: Item 23 — RECEIPT (FDD pages 42–162)
What This Means (2025 FDD)
According to Bigfoot Forestry's 2025 Franchise Disclosure Document, the 'Term' of the Area Development Agreement can expire due to two specific events. The term begins on the Effective Date of the Area Development Agreement.
The first event that can cause the term to expire is the opening date listed in the Development Schedule for the last Bigfoot Forestry Business the developer is required to open. This means that once the developer has fulfilled their obligation to open all the Bigfoot Forestry Businesses as per the agreed-upon schedule, the Area Development Agreement concludes.
The second event is the date the Area Development Agreement is effectively terminated. This implies that if the agreement is terminated before all Bigfoot Forestry Businesses are opened according to the Development Schedule, the term ends on the date of termination. This could occur due to a breach of contract or other circumstances outlined in the agreement's termination clauses.