By what date must Monicals Pizza and the Developer execute the Franchise Agreement for each additional Monical's Restaurant?

According to the 2025 Monicals Pizza Franchise Disclosure Document, Monicals Pizza and the Developer must execute the Franchise Agreement for each additional Monical's Restaurant before the date stated in the Development Schedule that such Monical's Restaurant must be established and operating. The Development Schedule, as defined in the FDD, is attached as Exhibit A and sets forth the number and the Opening Dates of Monical's Restaurants to be established pursuant to the Development Agreement. The Opening Date is defined as any date by which the Developer is required to begin operations for each Monical's Restaurant, as listed in the Development Schedule.

This means that a prospective Monicals Pizza franchisee who signs a Development Agreement must adhere to the timeline outlined in the Development Schedule for opening additional restaurants. The Franchise Agreement for each location must be finalized and signed before its corresponding 'must be established and operating' date. This timeline is crucial, and failure to meet these deadlines could potentially lead to a breach of the Development Agreement.

It is important for potential developers to carefully review the Development Schedule (Exhibit A) and understand the implications of these deadlines. They should assess their ability to meet the required timelines for site selection, construction, and opening of each Monicals Pizza restaurant. Missing these deadlines, as stated in the FDD, can result in the termination of the Development Agreement if the developer fails to meet or satisfy any timing requirement or deadline contained in the Development Schedule.