Under what condition does the Monicals Pizza Development Agreement and all Development Rights granted to the Developer expire?

According to the 2025 Monicals Pizza Franchise Disclosure Document, the Development Agreement and all Development Rights granted to the Developer will expire on the last Opening Date as specified in the Development Schedule, unless it is terminated sooner according to the agreement's terms. The exclusive Development Rights concerning the Development Territory will automatically terminate at the end of the Development Agreement's term, and the Developer will not have the option to renew or extend the agreement.

This means that a developer's rights to open Monicals Pizza restaurants in a specific territory are tied to a schedule. If the developer meets the schedule, the agreement lasts until the final opening date. If the developer fails to meet the schedule or violates the agreement, Monicals Pizza can terminate the agreement early.

It is important for potential developers to carefully review the Development Schedule and understand the conditions under which the agreement can be terminated to avoid losing their development rights. The Development Schedule outlines the timeline for opening new Monicals Pizza locations, and failing to meet these deadlines can result in the termination of the Development Agreement. This could have significant financial implications for the developer, who may have invested time and resources into securing the development rights.