What does 'Business Locations' refer to in the Potbelly Sandwich Works agreement?

According to Potbelly Sandwich Works' 2025 Franchise Disclosure Document, "Business Locations" are defined as the locations of the Leased Real Property. This definition is important in the context of the Asset Purchase Agreement, as it clarifies which physical locations are included in the transaction.

For a prospective franchisee, understanding this definition is crucial because it specifies that the agreement pertains to the real estate where the Potbelly Sandwich Shops are situated. This definition helps to delineate the scope of the assets being transferred or considered within the agreement, ensuring clarity on which properties are part of the business transaction.

This definition is important for the Asset Purchase Agreement, as it clarifies which physical locations are included in the transaction. It ensures that all parties involved are aligned on the specific real estate properties that are part of the deal, reducing potential disputes or misunderstandings regarding the scope of the agreement.