What happens to the Crave Development Agreement upon the opening of the Franchised Business?

According to Crave's 2025 Franchise Disclosure Document, the Multi-Unit Development Agreement outlines the developer's obligation to establish and operate Crave outlets, with each operating under its own Franchise Agreement. The agreement includes a Minimum Performance Schedule that specifies the number of franchise agreements required for businesses operating within the Development Area.

Upon the opening of the final Franchised Business to be developed under the agreement, the Minimum Performance Schedule is considered complete, and the Development Agreement expires. This means that once the developer has fulfilled their commitment to open the agreed-upon number of Crave locations, their rights and obligations under the Development Agreement cease.

This expiration is a crucial point for prospective multi-unit developers to understand. It signifies the end of their exclusive development rights and obligations within the designated area. After the agreement expires, Crave has the right to develop and operate, or grant to others, development rights and franchises within the Development Area, subject to any territorial rights granted to the franchisee with respect to Franchised Businesses operated by them pursuant to the Franchise Agreements and subject, further, to the right of first refusal.