For the All Team agreement, does the definition of 'Business Day' depend on the holidays observed by financial institutions in Tampa, Florida?

According to All Team's 2025 Franchise Disclosure Document, the definition of 'Business Day' within the security agreement is tied to the holidays observed by financial institutions in Tampa, Florida. Specifically, a 'Business Day' is defined as any day that is not a Saturday, Sunday, or a holiday observed by these financial institutions. This definition is important because it dictates the days on which certain business activities or obligations under the agreement must be performed.

For a prospective All Team franchisee, this means that deadlines or required actions falling on a holiday recognized by Tampa's financial institutions would be shifted to the next business day. This could affect payment schedules, reporting deadlines, or other time-sensitive aspects of the franchise agreement. Franchisees should be aware of the Tampa, Florida banking holidays to ensure compliance with the agreement's terms.

It is fairly common for franchise agreements to define 'business day' and to tie it to a specific location, especially where the franchisor's headquarters or main financial operations are located. Franchisees should familiarize themselves with these definitions in all their agreements to avoid any unintentional breaches of contract due to misinterpreting deadlines.