Where is the 'Development Period' defined within the Mrcool Franchise Agreement?
Mrcool Franchise · 2025 FDDAnswer from 2025 FDD Document
"Development Period" shall, respectively, have the meaning defined and set forth in Section 4.4 of this Agreement.
"Development Schedule" shall have the meaning defined and set forth in Section 4.4 of this Agreement.
"Effective Date" shall be the date set forth, defined and referred to in the first paragraph of this Agreement.
"First Development Center" refers to and means the Center to be developed by Franchisee as the first Development Center to be developed and operated by Franchisee within the Development Area.
"Franchise Agreement" refers to and means Franchisor's individual unit MRCOOL Center Franchise Agreement as designated and determined by Franchisor from time to time.
"Marks" means such service marks, trademarks, trade dress, trade names, logos, commercial symbols and all configurations and derivations thereof, as may presently exist, or which may be modified, changed, or acquired by Franchisor or Franchisor's affiliates, in connection with the operation of Centers.
"MRCOOL Center(s)" shall have the meaning defined in the Recitals section of this Agreement and, without limitation to the Recitals section definition of "MRCOOL Centers", shall further include, refer to and mean: every business and all businesses owned and/or operated by Franchisor, Franchisor's affiliates and/or authorized franchisee(s) that utilize and/or is/are required to utilize the System and/or Licensed Marks including, but not limited to, the Franchised Business.
"Newly Opened Development Center(s)" shall, respectively, have the meaning defined and set forth in Section 4.4 of this Agreement.
Source: Item 23 — RECEIPTS (FDD pages 55–263)
What This Means (2025 FDD)
According to Mrcool's 2025 Franchise Disclosure Document, the 'Development Period' is defined in Section 4.4 of the Franchise Agreement. The Development Information Sheet is incorporated into the agreement. The Development Schedule, Cumulative Development Centers, and Newly Opened Development Centers are also defined in Section 4.4 of the agreement.
This means that franchisees looking to understand the specifics of their development timeline, including key milestones and obligations, should refer to Section 4.4 within their Mrcool Franchise Agreement. This section will outline the period during which the franchisee is expected to establish and grow their Mrcool centers.
Prospective franchisees should carefully review Section 4.4 to fully understand the expectations and deadlines associated with their development obligations. Failure to meet these obligations, as outlined in the Development Schedule, can result in termination of the agreement. Therefore, understanding the Development Period is crucial for the success and longevity of the franchise.