Under the Burger King development schedule, are Cumulative Opening Targets adjusted for restaurant closures, and does the reason for closure affect this adjustment?

All of the Cumulative Opening Targets (as defined in the Development Schedule) set forth in the Development Schedule are expressed net of closures, without distinction as to the reason for such closure (i.e., expiration, early termination or otherwise).

(b) Net of Closures Requirement. Developer acknowledges and agrees that all Cumulative Opening Targets must be achieved net of closures (as set forth in this Development Schedule and in Article III) so that such targets represent net restaurant growth (or NRG) in the Territory for each Development Year or portion thereof, as the case may be, and (ii) in the event of the closure of any Developer Restaurant in the Territory (including without limitation Developer Restaurants owned and operated by Developer and/or its Affiliates prior to the Commencement Date and Developer Restaurants not developed or opened pursuant to the Agreement), and without distinction as to the reason for such closure (i.e., expiration, early termination or otherwise), such Restaurant must be replaced by a new Franchised Restaurant by the end of the Development Year in which the closure occurred, as necessary, in order to achieve the Cumulative Opening Targets net of closures.

Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 109–124)