How is the 'Term' of the Bigfoot Forestry Area Development Agreement defined?

According to Bigfoot Forestry's 2025 Franchise Disclosure Document, the 'Term' of the Area Development Agreement is defined as the period starting on the agreement's Effective Date and ending on the earlier of two possible dates. These dates are (a) the opening date listed in the Development Schedule for the last Bigfoot Forestry Business the developer is required to open, or (b) the date the Area Development Agreement is effectively terminated.

For a prospective Bigfoot Forestry area developer, this means the agreement lasts until all required locations are open per the development schedule, or until the agreement is terminated, whichever comes first. The development schedule is crucial because it dictates the timeline for opening new Bigfoot Forestry businesses within the Development Territory. If the developer fails to meet the schedule, it could lead to early termination of the agreement.

It is important for potential developers to carefully review the Development Schedule (ATTACHMENT A) to understand their obligations and timelines for opening new locations. The term's definition highlights the importance of adhering to the development schedule, as failure to open locations on time could result in the termination of the agreement, even if the developer intended to continue developing locations beyond that point. This also means that if all locations are opened ahead of schedule, the agreement concludes once the final location opens.