What is the date of the Second Amended and Restated Loan Agreement referenced in the Budget FDD?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
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 Second Amended and Restated Loan Agreement is dated as of June 3, 2004. This agreement is 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.
The document also mentions several amendments to this agreement. Specifically, it references a Second Amendment dated May 9, 2007, a Third Amendment dated August 16, 2013, and a Fourth Amendment dated July 28, 2022. These amendments involve similar parties, with AESOP Leasing L.P. as the borrower and Avis Budget Rental Car Funding (AESOP) LLC as the lender.
For a prospective Budget franchisee, understanding these loan agreements and their amendments may be relevant if they plan to engage in similar financing arrangements or if these agreements impact the overall financial health of the Budget system. It is important to note that these agreements are incorporated by reference to exhibits in the company's reports on Form 10-Q and Form 10-K, which are publicly available filings providing more detailed information.