Under what circumstances would continued business relations between a franchisee and Bonchon after the agreement's termination NOT be considered a renewal or extension of the agreement?

According to Bonchon's 2025 Franchise Disclosure Document, the franchisor has no obligation to offer a continued right to operate a Bonchon Business upon the termination of the second Successor Franchise Agreement. At that time, the franchisee may be required to stop operating its restaurant as a Bonchon Restaurant and comply with all post-termination obligations.

Sections 4.02 and 13.01 describe the franchisee's right to enter into two consecutive Successor Franchise Agreements and the conditions the franchisee must satisfy in order to have the right to enter into a Successor Franchise Agreement, respectively. This suggests that after two successor agreements, the relationship concludes without an implied renewal or extension.

This provision clarifies the finite nature of the franchise relationship, even with successor agreements. It underscores the importance of understanding the terms and conditions for obtaining successor agreements, as the franchisee's right to operate under the Bonchon brand is not perpetual and is subject to Bonchon's discretion after the second successor term.