What is the Christian Brothers Automotive tenant's right of possession conditioned upon?

According to the 2025 Christian Brothers Automotive Franchise Agreement, the tenant, who is the franchisee, can take possession of the premises within five days of receiving notice that the premises are substantially completed. The term "Substantially Completed" is defined in the Master Lease, which is an agreement between the tenant and Christian Brothers Automotive Corporation, along with any amendments, modifications, or supplements.

In practical terms, this means that a Christian Brothers Automotive franchisee can expect to begin occupying and setting up their shop shortly after the construction or renovation of the location is finalized. The franchisee needs to be ready to take possession promptly once they receive notice to avoid any delays in starting their business operations.

It is important for prospective Christian Brothers Automotive franchisees to understand the definition of "Substantially Completed" in the Master Lease, as this determines when they can take possession and begin paying rent. The franchisee should also coordinate closely with the landlord and Christian Brothers Automotive to ensure a smooth transition and timely opening of their franchise location.