What is the date of the Separation and Distribution Agreement referenced in the Budget FDD?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
| EXHIBIT NO. | DESCRIPTION Separation and Distribution Agreement by and among Cendant Corporation*, Realogy Corporation, Wyndham Worldwide Corporation and Travelport Inc., dated as of July 27, 2006 (Incorporated by reference to |
|---|---|
| 2.1 | Separation and Distribution Agreement by and among Cendant Corporation, Realogy Corporation, Wyndham Worldwide Corporation, Wyndham Worldwide Corporation and Travelport Inc. |
| 2,2 | Exhibit 2.1 to the Company's Current Report on Form 8-K, dated August 1, 2006). Letter Agreement dated August 17, 2006, related to the Separation and Distribution Agreement by and among Realogy Corporation, Cendant Corporation*, Wyndham Worldwide Corporation and Travelgort Inc. Letter Agreement dated August 17, 2006, related to the Separation and Distribution Agreement by and among Realogy Corporation. Cendant Corporation*, Wyndham Worldwide Corporation and Travelgort Inc. Letter Agreement dated August 17, 2006, related to the Separation and Distribution Agreement by and among Realogy Corporation. Cendant Corporation*, Wyndham Worldwide Corporation and Travelgort Inc. Letter Agreement dated August 17, 2006 (Incorporated by reference to Exhibit 2.2 to the Company's Quarterly Report on Form 10-0 for the period ended June 30, 2007, dated August 8, 2007), dated as of July 27, 2006 (Incorporated by reference to Exhibit 2.2 to the Company's Quarterly Report on Form 8-K dated September 5, 2006). |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the Separation and Distribution Agreement by and among Cendant Corporation, Realogy Corporation, Wyndham Worldwide Corporation and Travelport Inc. is dated as of July 27, 2006. This agreement is listed as Exhibit 2.1.
This agreement is significant because it outlines the terms and conditions under which these major corporations separated. For a prospective Budget franchisee, understanding the historical corporate structure and any ongoing obligations or relationships stemming from this agreement could be relevant. It may shed light on potential liabilities, responsibilities, or benefits that Budget has as a result of this separation.
While the FDD references this agreement, it is incorporated by reference to another document (Exhibit 2.1 to the Company's Current Report on Form 8-K, dated August 1, 2006). A franchisee would need to consult that specific exhibit to understand the full details of the Separation and Distribution Agreement and its potential impact on Budget's operations and financial standing.