Are new Boston Pizza Restaurants added to the Royalty Pool?
On January 1 of each year (the “Adjustment Date”), an adjustment is made to the Royalty Pool to roll-in new Boston Pizza full-service restaurants that have been opened by the December 31 prior to that Adjustment Date. At each annual adjustment, the Fund pays BPI, in securities exchangeable for Units of the Fund, 92.5% of the amount reflecting the value of any increase in the royalty at that time. The adjustment for new franchise revenues rolled into the Royalty Pool is designed to be accretive for unitholders.
