Common use of INITIAL DEVELOPMENT SCHEDULE Clause in Contracts

INITIAL DEVELOPMENT SCHEDULE. 2.1 Developer shall develop a total of _________ (____) Restaurants franchised by Franchisor in the Territory during the period commencing on the date hereof and expiring on _____________, 20_____, in accordance with the following development schedule: (1) During the first Initial Development Period under this Agreement, Developer shall develop at least _________ (___) Restaurants within the Territory, each of which shall be open for operation and doing business on _________________, ________ (the end of the first Initial Development Period under this Agreement). (b) During the second Initial Development Period under this Agreement, Developer shall develop the number of Restaurants within the Territory necessary to result in the existence of _________ (___) such Restaurants developed by Developer which are open for operation and doing business on _________________, ________ (the end of the second Initial Development Period under this Agreement). (c) During the third Initial Development Period under this Agreement, Developer shall develop the number of Restaurants within the Territory necessary to result in the existence of _________ (____) such Restaurants developed by Developer which are open for operation and doing business on ______________, ________ (the end of the third Initial Development Period under this Agreement). Each of the periods specified in Subparagraphs (a) through (___) hereof is sometimes referred to hereinafter as an "Initial Development Period." 2.2 During any Initial Development Period, subject to the provisions of this Agreement, Developer is free to develop more than the total minimum number of Restaurants which Developer is required to develop during that Initial Development Period. Any such Restaurants developed, open for operation and doing business during an Initial Development Period in excess of the minimum number required to be developed during that Initial Development Period shall be applied to satisfy Developer's development obligation during the next succeeding Initial Development Period or next succeeding Subsequent Development Period (as defined in Section 3 hereof), if any, as the case may be. Notwithstanding the above, Developer shall not develop more than the total number Restaurants approved by Franchisor for development under this Agreement. 2.3 Strict compliance with the development schedule specified in Subsection 2.1 hereof is of the essence of this Agreement. If Developer fails to fulfill its specified development obligation with respect to any of the Initial Development Periods specified in Subsection 2.1 hereof, this Agreement shall terminate sixty (60) days after the end of the Initial Development Period in question, unless by the end of such sixty (60) day period Developer has fulfilled the development obligation relating to such Initial Development Period.

INITIAL DEVELOPMENT SCHEDULE. 2.1 Developer shall develop a total of _________ (____) Restaurants franchised by Franchisor in the Territory during the period commencing on the date hereof and expiring on _____________, 20_____, in accordance with the following development schedule:: E-4 2004 (1a) ¹ During the first Initial Development Period under this Agreement, Developer shall develop at least _________ (___) Restaurants within the Territory, each of which shall be open for operation and doing business on _________________, ________ (the end of the first Initial Development Period under this Agreement). (b) During the second Initial Development Period under this Agreement, Developer shall develop the number of Restaurants within the Territory necessary to result in the existence of _________ (___) such Restaurants developed by Developer which are open for operation and doing business on _________________, ________ (the end of the second Initial Development Period under this Agreement). (c) During the third Initial Development Period under this Agreement, Developer shall develop the number of Restaurants within the Territory necessary to result in the existence of _________ (____) such Restaurants developed by Developer which are open for operation and doing business on ______________, ________ (the end of the third Initial Development Period under this Agreement). Each of the periods specified in Subparagraphs (a) through (___) hereof is sometimes referred to hereinafter as an "Initial Development Period." 2.2 During any Initial Development Period, subject to the provisions of this Agreement, Developer is free to develop more than the total minimum number of Restaurants which Developer is required to develop during that Initial Development Period. Any such Restaurants developed, open for operation and doing business during an Initial Development Period in excess of the minimum number required to be developed during that Initial Development Period shall be applied to satisfy Developer's development obligation during the next succeeding Initial Development Period or next succeeding Subsequent Development Period (as defined in Section 3 hereof), if any, as the case may be. Notwithstanding the above, Developer shall not develop more than the total number Restaurants approved by Franchisor for development under this Agreement. 2.3 Strict compliance with the development schedule specified in Subsection 2.1 hereof is of the essence of this Agreement. If Developer fails to fulfill its specified development obligation with respect to any of the Initial Development Periods specified in Subsection 2.1 hereof, this Agreement shall terminate sixty (60) days after the end of the Initial Development Period in question, unless by the end of such sixty (60) day period Developer has fulfilled the development obligation relating to such Initial Development Period.

INITIAL DEVELOPMENT SCHEDULE. 2.1 Developer shall develop a total of ___________ (____) Restaurants franchised by Franchisor in the Territory during the period commencing on the date hereof and expiring on ______________, 20________, in accordance with the following development schedule: (1a) During the first Initial Development Period under this Agreement, Developer shall develop at least _________ (____) Restaurants within the Territory, each of which shall be open for operation and doing business on __________________, ________ (the end of the first Initial Development Period under this Agreement). (b) During the second Initial Development Period under this Agreement, Developer shall develop the number of Restaurants within the Territory necessary to result in the existence of ___________ (____) such Restaurants developed by Developer which are open for operation and doing business on _________________, ________ (the end of the second Initial Development Period under this Agreement). (c) During the third Initial Development Period under this Agreement, Developer shall develop the number of Restaurants within the Territory necessary to result in the existence of ___________ (____) such Restaurants developed by Developer which are open for operation and doing business on ______________, ________ (the end of the third Initial Development Period under this Agreement). Each of the periods specified in Subparagraphs (a) through (____) hereof is sometimes referred to hereinafter as an "Initial Development Period." 2.2 During any Initial Development Period, subject to the provisions of this Agreement, Developer is free to develop more than the total minimum number of Restaurants which Developer is required to develop during that Initial Development Period. Any such Restaurants developed, open for operation and doing business during an Initial Development Period in excess of the minimum number required to be developed during that Initial Development Period shall be applied to satisfy Developer's development obligation during the next succeeding Initial Development Period or next succeeding Subsequent Development Period (as defined in Section 3 hereof), if any, as the case may be. Notwithstanding the above, Developer shall not develop more than the total number Restaurants approved by Franchisor for development under this Agreement. 2.3 Strict compliance with the development schedule specified in Subsection 2.1 hereof is of the essence of this Agreement. If Developer fails to fulfill its specified development obligation with respect to any of the Initial Development Periods specified in Subsection 2.1 hereof, this Agreement shall terminate sixty (60) days after the end of the Initial Development Period in question, unless by the end of such sixty (60) day period Developer has fulfilled the development obligation relating to such Initial Development Period.