Boston Pizza Royalties Income Fund (the Fund) is a limited purpose open-ended trust. The Fund is a mutual fund trust. The Fund, through the Boston Pizza Royalties Limited Partnership (the Partnership) and Boston Pizza Holdings Trust (the Trust), indirectly holds the Canadian trademarks owned by Boston Pizza International Inc. (BPI) for the operation of Boston Pizza restaurants in Canada (BP Rights 1), and the business of BPI, its affiliated entities and franchisees (Boston Pizza). The Partnership licenses the BP Rights to BPI in return for a 4% royalty of Franchise Sales of restaurants (consisting of Boston Pizza Restaurants) included in the specific royalty pool (Royalty Pool). The Royalty Pool has around 358 restaurants.