What is the date of the Eighth Amendment to the Sixth Amended and Restated Credit Agreement for Budget?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
| 10.74 | Fifth Amendment, dated as of April 21, 2023, to the Sixth Amended and Restated Credit Agreement, dated as of July 9, 2021, among Avis Budget Holdings, LLC, Avis Budget Car Rental, LLC, as borrower, Avis |
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| Sugget Group, Inc., in a subsidiary borrower from time to time party thereto, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, and the other parties thereto (Incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for equarterly period ended June 30, 2023, deed August 1, 2023). | |
| 10.75 | Sixth Amendment, dated as of December 8, 2023, to the Sixth Amended and Restated Credit Agreement, dated as of July 9, 2021, among Avis Budget Holdings, LLC. Avis Budget Car Rental, LLC, as borrower. Avis Budget Group, Inc., the subsidiary borrowers from time to time party thereto, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, and the other parties thereto (Incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K, dated December 14, 2023). |
| 10.76 | Seventh Amendment, dated as of December 27, 2023, to the Sixth Amended and Restated Credit Agreement, dated as of July 9, 2021, among Avis Budget Holdings, LLC. Avis Budget Car Rental, LLC, as borrower. Avis Budget Group, Inc., the subsidiary borrowers from time to time and the lenders from time to time party thereto, the lenders from time to time party thereto, the company and the company's Current Report on Form 8-K, dated January 3, 2024), |
| 10.77 | Eighth Amendment, dated as of May 29, 2024, to the Sixth Amended and Restated Credit Agreement, dated as of July 9, 2021, among Avis Budget Holdings, LLC, Avis Budget Car Rental, LLC, as borrower, Avis Budget Group, Inc., the subsidiary borrowers from the to time party thereto, the lenders from time to time party thereto and JPMorgan Chase Bank, NA, as Administrative Agent, and the other parties thereto (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 10-Q for the guarderly period ended Jules 3, 2024, dated August 6, 2024). |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the Eighth Amendment to the Sixth Amended and Restated Credit Agreement is dated May 29, 2024. This agreement involves several parties, including Avis Budget Holdings, LLC, Avis Budget Car Rental, LLC (as the borrower), Avis Budget Group, Inc., subsidiary borrowers, lenders, and JPMorgan Chase Bank, N.A., acting as the Administrative Agent. The details of this amendment are incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 10-Q for the quarterly period ended June 3, 2024, which is dated August 6, 2024.
For a prospective Budget franchisee, understanding the credit agreements and amendments provides insight into the financial obligations and arrangements of the parent company. These agreements can impact Budget's financial stability and its ability to support franchisees. The franchisee should note that these amendments are publicly available as exhibits to the company's reports filed with the Securities and Exchange Commission (SEC).
It is important for potential franchisees to review these documents to assess the financial health and obligations of Budget. Understanding the credit agreements can help franchisees evaluate the risks and opportunities associated with investing in a Budget franchise. Reviewing the referenced exhibits on the SEC website will provide a more complete picture of the terms and conditions of the Eighth Amendment and its potential impact.