What is a 'Development Period' in the context of the Cicis Development Rights agreement?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
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- you or your approved Affiliate will develop and open Restaurants, in each case pursuant to the applicable Franchise Agreement but as necessary to satisfy the minimum opening requirements of each of the time periods (each a "Development Period") that comprise the overall development schedule described in Attachment A hereto (the "Development Schedule"); and
Source: Item 23 — RECEIPTS (FDD pages 65–263)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, a 'Development Period' is defined within the context of a Development Rights agreement as one of the time periods that make up the overall development schedule. This schedule is detailed in Attachment A of the agreement. During each Development Period, the developer (or their approved affiliate) is required to open a certain number of Cicis restaurants to meet the minimum opening requirements.
This means that if you enter into a Development Rights agreement with Cicis, you will be obligated to open a specific number of restaurants within defined timeframes (Development Periods) as outlined in the Development Schedule. Failing to meet these minimum opening requirements within each Development Period could potentially lead to a breach of the agreement.
The Development Rights agreement lasts from the effective date until either the date the last required restaurant opens or the last day of the final Development Period, whichever comes first. Therefore, understanding the Development Schedule and the obligations within each Development Period is crucial for anyone considering a Development Rights agreement with Cicis.