factual
Who is the borrower in the Second Amendment related to Budget?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
| 10.6 | Fourth Amended and Restated Cooperation Agreement, dated as of December 23, 2022, by and among Avis Budget Group, Inc., SRS Investment Management, LLC and certain of its affiliates (Incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K dated December 27, 2022). |
|---|---|
| 10,7 | Avis Budget Group, Inc. Amended and Restated Eguity and Incentive Plan (Incorporated by reference to Annex A to the Company's Definitive Proxy Statement on Schedule 14A, dated March 26, 2019).† |
| 10.8 | Amendment to the Avis Budget Group, Inc. Amended and Restated Equity and Incentive Plan dated October 26, 2021 (Incorporated by reference to Exhibit 10.3 to the Company's Quarterly Report on Form 10-Q for the numericardy period ended Sectember 30, 2021, dated November 2, 2021), if |
| 10.9 | Form of Award Agreement - Restricted Stock Units (Incorporated by reference to Exhibit 10.12 to the Company's Annual Report on Form 10-K for the year ended December 31, 2018 dated February 21, 2019),† |
| 10.10 | Form of Award Agreement - Performance Based Restricted Stock Units (incorporated by reference to Exhibit 10.13 to the Company's Annual Report on Form 10-K for the year ended December 31, 2018, dated Exhibit 21, 2019 (incorporated by reference to Exhibit 10.13 to the Company's Annual Report on Form 10-K for the year ended December 31, 2018, dated Exhibit 21, 2019 (incorporated by reference to Exhibit 10.13 to the Company's Annual Report on Form 10-K for the year ended December 31, 2018, dated Exhibit 21, 2019 (incorporated by reference to Exhibit 10.13 to the Company's Annual Report on Form 10-K for the year ended December 31, 2018, dated Exhibit 21, 2019 (incorporated by reference to Exhibit 10.13 to the Company's Annual Report on Form 10-K for the year ended December 31, 2018, dated Exhibit 21, 2019 (incorporated by reference to Exhibit 20.13 to the Company's Annual Report on Form 10-K for the year ended December 31, 2018, dated Exhibit 21, 2019 (incorporated by reference to Exhibit 20.13 to the Company's Annual Report on Form 10-K for the year ended December 31, 2018, dated Exhibit 21, 2019 (incorporated by reference to Exhibit 20.13 to the Company's Annual Report on Form 10-K for the year ended December 31, 2018, dated Exhibit 21, 2019 (incorporated by reference to Exhibit 20.13 to the Company's Annual Report on Form 10-K for the year ended December 31, 2018, dated Exhibit 21, 2019 (incorporated by reference to Exhibit 21, 2018) (incorporated by reference to Exhibit 21, 2018) (incorporated by reference to Exhibit 21, 2018) (incorporated by reference to Exhibit 21, 2018) (incorporated by reference to Exhibit 21, 2018) (incorporated by reference to Exhibit 21, 2018) (incorporated by reference to Exhibit 21, 2018) (incorporated by reference to Exhibit 21, 2018) (incorporated by reference to Exhibit 21, 2018) (incorporated by reference to Exhibit 21, 2018) (incorporated by reference to Exhibit 21, 2018) (incorporated by reference to Exhibit 21, 2018) (incorporated by reference to Exhibit 21, 2018) (incorporated |
| 10.11 | Form of Non-Employee Director Award Agreement - Restricted Stock Units (Incorporated by reference to Exhibit 10.14 to the Company's Annual Report on Form 10-K for the year ended December 31, 2018, dated February 21, 2019).† |
| 10,12 | Form of Avis Budget Group, Inc, Severance Agreement (Incorporated by reference to Exhibit 10.15 to the Company's Annual Report on Form 10-K for the year ended December 31, 2018, dated February 21, 2019).† |
| 10.13 | Avis Budget Group, Inc., Non-Employes Directors Deferred Compensation Plan, amended and restated as of January 1, 2019 (Incorporated by reference to Exhibit 10,16 to the Company's Annual Report on Form 10.4% by several Personnel Translation (Incorporated December 31, 2018, adult Exhibit 20,1019,1). |
| 10.14 | Amendment No. 1 dated as of December 8, 2022, to the Avis Budget Group, Inc. Non-Employee Directors Deferred Compensation Plan, amended and restated as of January 1, 2019 (incorporated by reference to Exhibit 10.17 to the Company's Annual Report on Form 10-K for the year ended December 31, 2022, dated February 16, 2023), † |
| 10.15 | Avis Budget Group, Inc. Supplemental Savings Plan, amended and restated as of January 1, 2023 (incorporated by reference to Exhibit 10.18 to the Company's Annual Report on Form 10-K for the year ended December 31 2020 2, dated February 16, 2023 1, |
| 10.16 | Cendant Corporation* Officer Personal Financial Services Policy Incorporated by reference to Exhibit 10.3 to the Company's Current Report on Form 8-K, dated January 26, 2005). |
| 10.17 | Tax Sharing Agreement among Cendant Corporation.* Realogy Corporation, Wyndham Worldwide Corporation and Travelport Inc., dated as of July 28, 2006 (Incorporated by reference to Exhibit 10.2 to the Corporation Covered Report on Som 8K, dated during 1, 2016). |
| 10,18 | Amendment to the Tax Sharing Agreement, dated July 28, 2006, among Avis Budget Group, Inc., Realogy Corporation, Wyndham Worldwide Corporation and Travelport Inc., (Incorporated by reference to Exhibit 10.4 to the Company's Quarterly Report on Form 10-Q for the guarterly period ended Juny 30, 2008, dated August 7, 2008), |
| 10,19 | Second Amended and Restated Base Indenture, dated as of June 3, 2004, among Cendant Rental Car Funding (AESOP) LLC***, as Issuer, and The Bank of New York, as Trustee (Incorporated by reference to Exhibit 10,7 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2004, dated August 2, 2004). |
| 10,20 | Supplemental Indenture No. 1, dated as of December 23, 2005, among Cendant Rental Car Funding (AESOP) LLC***, as Issuer, and The Bank of New York, as Trustee, to the Second Amended and Restated Base Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried Todeline, Glade are Curried |
| 10.21 | Supplemental Indenture No. 2, dated as of May 9, 2007, among Avis Budget Rental Car Funding (AESOP) LLC, as Issuer, and The Bank of New York Trust Company, N.A. (as successor in interest to The Bank of New York), as Trustee, to the Second Amended and Restated Base Indenture, dated as of June 3, 2004 (incorporated by reference to Exhibit 10.6 to the Company's Quarterly Report on Form 10-Q for the guarterly part of part of the Second Amended Junes 18, 2004. |
| 10.22 | Supplemental Indenture No. 3, dated as of August 16, 2013, among Avis Budget Rental Car Funding (AESOP) LLC, as Issuer, and The Bank of New York Trust Company, N.A. (as successor in Interest to The Bank of New York), as Trustee, to the Second Amended and Restated Base Indenture, dated as of June 3, 2004 (Incorporated by reference to Exhibit 10.35(c) to the Company's Annual Report on Form 10-K for the year ended December 31, 2013, dated February 20, 2014), |
| 10,23 | Second Amended and Restated Loan Agreement, dated as of June 3, 2004, among AESOP Leasing L.P., as Borrower, Quartx Fleet Management, Inc., as a Permitted Nominee, PV Holding Corp., as a Permitted Nominee, and Cendant Rental Car Funding (AESOP) LLC**, as Lender (Incorporated by reference to Exhibit 10.8 to the Company's Quartery Report on Form 10-0 for the quartery period ended June 30, 2004, dated August 2, 2004), |
| 10.24 | First Amendment, dated as of December 23, 2005, among AESOP Leasing L.P., as Borrower, Quartx Fleet Management, Inc., as a Permitted Nominee, PV Holding Corp., as a Permitted Nominee, and Cendant Rental Car Funding (AESOP) LIC**, as Lender, to the Second Amended and Restated Loan Agreement, dated as of June 3, 2004 (Incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K, dated January 20, 2008). |
| Second Amendment, dated as of May 9, 2007, among AESOP Leasing L.P., as Borrower, PV Holding Corp., as a Permitted Nominee, Quartx Fleet Management, Inc., as a Permitted Nominee, and Avis Budget Rental Car Funding (AESOP) LLC, as Lender, to the Second Amended and Restated Loan Agreement, dated as of June 3, 2004 (Incorporated by reference to Exhibit 10.8 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2007, dated August 8, 2007).
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the borrower in the Second Amendment, dated May 9, 2007, is AESOP Leasing L.P. The document also identifies other parties involved in the agreement, including PV Holding Corp. and Quartx Fleet Management, Inc. as Permitted Nominees, and Avis Budget Rental Car Funding (AESOP) LLC as the lender. The Second Amendment pertains to the Second Amended and Restated Loan Agreement, which was initially dated June 3, 2004.
This information is relevant to prospective Budget franchisees as it provides insight into the financial and legal relationships Budget has with other entities. Understanding these relationships can help franchisees assess the financial stability and overall risk associated with investing in a Budget franchise. The reference to loan agreements and amendments suggests that Budget, or its related entities, engage in borrowing and lending activities, which could impact the financial health of the company.
It is important for potential franchisees to review these financial statements and related exhibits carefully to understand the implications of these agreements. While the FDD provides this information, franchisees may want to seek further clarification from Budget regarding the nature and impact of these loan agreements on the franchise system. Consulting with a financial advisor or legal professional is also recommended to fully assess the risks and benefits associated with investing in a Budget franchise.
Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only.
It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.