How does Potbelly Sandwich Works define a 'Business Day'?

According to Potbelly Sandwich Works's 2025 Franchise Disclosure Document, a 'Business Day' is defined as any day other than a Saturday, Sunday, or any other day when banking institutions in the State of Illinois are legally required or authorized to be closed.

This definition is important for franchisees as it sets the standard for deadlines or time-sensitive actions outlined in the Asset Purchase Agreement. For example, if a franchisee is required to submit documentation or payments within a certain number of business days, they need to understand which days are counted towards that deadline. This definition ensures clarity and avoids disputes regarding when obligations must be fulfilled.

Since Potbelly Sandwich Works is based in Illinois, the closure of banking institutions in that state dictates what constitutes a non-business day. This clause provides a clear and objective standard, as opposed to relying on more ambiguous criteria. Franchisees should be aware of the implications of this definition, especially when dealing with time-sensitive requirements in their agreements.