5.1 The "TERM." The term of the FRANCHISE (the "TERM") will commence on the "COMMENCEMENT DATE" determined under this Article 5, and will end on the EXPIRATION DATE determined under this Article 5; unless this AGREEMENT is sooner cancelled or terminated in accordance with its provisions. 5.2 NEW HAAGEN-DAZS® SHOP. Each of the provisions of this Section 5.2 applies if, and only if, this AGREEMENT was entered into in contemplation of a NEW HAAGEN-DAZS® SHOP. 5.2.1 COMMENCEMENT DATE. The COMMENCEMENT DATE will be the day the SHOP first opens for business. 5.2.2 Commencement of Operations. FRANCHISEE shall exert its best efforts to open the SHOP on or before the day that is exactly 3 years from the date of this AGREEMENT (appearing on the top of the COVER SHEET) (the "OUTSIDE OPENING DATE"). 5.2.3 EXPIRATION DATE. The EXPIRATION DATE is the day immediately before the tenth anniversary of: (a) the COMMENCEMENT DATE; or (b) the OUTSIDE OPENING DATE; whichever is earlier. 5.2.4 Failure to Open by OUTSIDE OPENING DATE. Irrespective of the cause of any delay, if FRANCHISEE fails to open the SHOP for business by the OUTSIDE OPENING DATE, then, SHOPPE COMPANY shall have the absolute right to elect to: (a) permit FRANCHISEE additional time to open SHOP under this AGREEMENT, provided however that the EXPIRATION DATE shall remain the same; or (b) require FRANCHISEE to enter into SHOPPE COMPANY'S most current form of franchise agreement in replacement of this AGREEMENT, and permit FRANCHISEE additional time to open Shop, in which case SHOPPE COMPANY may at its election require that the EXPIRATION DATE remain the same, or may extend the EXPIRATION DATE; or (c) cancel this AGREEMENT and return the FRANCHISE FEE paid by FRANCHISEE under Article 7, less $5,000, which SHOPPE COMPANY shall have an absolute right to retain, in which case SHOPPE COMPANY shall have no further obligations to FRANCHISEE under this AGREEMENT.
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