Where can I find the definition of 'Development Area' in the Mrcool Franchise Agreement?
Mrcool Franchise · 2025 FDDAnswer from 2025 FDD Document
- "Development Area" shall have the meaning defined and set forth in Section 2.1 of this Agreement.
2.1 DEVELOPMENT GRANT AND DEVELOPMENT OBLIGATIONS
Franchisor grants to Franchisee the right, and Franchisee accepts the right and undertakes the obligation to develop MRCOOL Centers, each to be developed, opened and operated by Franchisee within the Development Area (each, a "Development Center"), provided that Franchisee develops, opens and operates such Development Centers in strict accordance with the Development Schedule, and, in accordance with the terms and provisions of each respective Franchise Agreement.
The Development Area is and shall constitute the geographic area set forth and identified in the Development Information Sheet.
Source: Item 23 — RECEIPTS (FDD pages 55–263)
What This Means (2025 FDD)
According to Mrcool's 2025 Franchise Disclosure Document, the definition of 'Development Area' can be found in Section 2.1 of the Franchise Agreement. This section outlines the development grant and obligations, explaining that Mrcool grants the franchisee the right and obligation to develop Mrcool Centers within the Development Area.
The Development Area itself is defined as the geographic area set forth and identified in the Development Information Sheet, which is attached as Schedule A to the agreement. This sheet must be completed and signed by Mrcool to be effective. The number of Development Centers, including the First Development Center, is also defined in the Development Information Sheet.
For a prospective franchisee, this means the specific geographic boundaries and development requirements for their franchise will be detailed in the Development Information Sheet. It is crucial to review this sheet carefully to understand the scope of the territory and the obligations for opening and operating Mrcool Centers within the designated area. The franchisee must adhere to the Development Schedule, as failure to comply can result in termination of the agreement.