What is the date of the Sixth 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). |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the Sixth Amendment to the Sixth Amended and Restated Credit Agreement is dated December 8, 2023. The 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., serving as the Administrative Agent.
This amendment is incorporated by reference to Exhibit 10.1 of Budget's Current Report on Form 8-K, which is dated December 14, 2023. This indicates that details of the amendment are publicly available through filings with the Securities and Exchange Commission (SEC).
For a prospective Budget franchisee, this information provides insight into the financial agreements and obligations of the parent company. While the specific details of the amendment are not provided in this excerpt, the franchisee can access the referenced SEC filings to understand the terms and potential implications of the credit agreement on Budget's financial stability and operations. Understanding the financial health of the parent company is crucial for assessing the overall risk and stability of the franchise system.