What section of the Monicals Pizza Development Agreement addresses opening requirements?
Monicals_Pizza Franchise · 2025 FDDAnswer from 2025 FDD Document
"Development Schedule" means the schedule attached as Exhibit A setting forth the number and the Opening Dates of Monical's Restaurants to be established pursuant to this Development Agreement;
"Opening Date" means any date by which Developer is required to begin operations for each Monical's Restaurant, as listed in the Development Schedule.
EXHIBIT B TO THE AREA DEVELOPMENT AGREEMENT
UNLIMITED GUARANTY AND ASSUMPTION OF OBLIGATIONS
THIS UNLIMITED GUARANTY AND ASSUMPTION OF OBLIGATIONS is given this day of, 20 , in connection with that certain Development Agreement of even date herewith (which Development Agreement, as may have been modified, amended and/or supplemented in writing, is hereunder called the Development Agreement) by and between Monical Pizza Corporation as "Franchisor" and as "Developer". As used herein, "Related Agreement" shall mean any agreement entered into by and between Franchisor and Developer or any Affiliate (as defined in the Development Agreement) in connection with or relating to the Development Agreement.
For valuable consideration received, and as an inducement to Franchisor to enter into the Development Agreement, the undersigned ("Guarantor") hereby unconditionally guarantees to Franchisor and its Affiliates: (a) the full and timely performance by Developer of the Development Agreement and each related Agreement and all terms, conditions and covenants thereof, and (b) the payment by Developer of royalties and all other sums payable by Developer under the Development Agreement and each Related Agreement.
Franchisor and Developer shall 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.
Source: Item 9 — FRANCHISEE'S OBLIGATIONS (FDD pages 18–20)
What This Means (2025 FDD)
According to the 2025 Monicals Pizza FDD, the "Development Schedule" attached as Exhibit A to the Development Agreement outlines the opening requirements for Monicals Pizza restaurants. This schedule specifies the number of restaurants a developer must establish and their corresponding Opening Dates. The FDD defines "Opening Date" as the date by which the developer must begin operations for each Monicals Pizza restaurant, as detailed in the Development Schedule.
Exhibit B to the Area Development Agreement includes an Unlimited Guaranty and Assumption of Obligations, ensuring the developer's performance and payments under the Development Agreement. This guaranty is given as an inducement for Monicals Pizza to enter into the Development Agreement. The guarantor unconditionally guarantees the developer's performance and payment of all obligations.
Section 4.4 of the Development Agreement states that Franchisor and Developer shall 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.