What is the 'Mandatory Development Schedule' for Fly Fitness, and where is it described?

According to Fly Fitness's 2024 Franchise Disclosure Document, the 'Mandatory Development Schedule' is referenced in several sections, particularly in the context of multi-unit development agreements. The document states that a developer agrees to develop franchises as set forth on the Mandatory Development Schedule. This schedule is mentioned in connection with the payment of a development fee. The development fee is $50,000 for the first Fly Fitness Franchised Business and fifty percent (50%) of the discounted initial franchise fee of $25,000 for each Franchised Business thereafter.

The FDD indicates that adherence to the Mandatory Development Schedule is critical, and failure to comply can result in a material event of default under the agreement. However, a developer can seek a one-time six-month extension of the schedule from Fly Fitness, provided the request is in writing and submitted at least 60 days before the mandatory open date. The franchisor's consent for such an extension will not be unreasonably withheld if the developer has demonstrated diligent efforts to meet the original open date and has acted in good faith.

The Mandatory Development Schedule is further described in Section 5.2, and the development area is described in Attachment 3. The developer desires to obtain the right to further develop and expand the System in accordance with the development schedule described in Section 5.2 hereof (the "Mandatory Development Schedule") within the development area described in Attachment 3 (the "Development Area"), under the System and Marks, on the terms and conditions set forth in this Agreement.