What exhibit number references the Separation and Distribution Agreement for Budget?
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. |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, Exhibit 2.1 references the Separation and Distribution Agreement. This agreement is by and among Cendant Corporation, Realogy Corporation, Wyndham Worldwide Corporation and Travelport Inc.
The Separation and Distribution Agreement outlines the terms and conditions under which these entities separated. It is dated as of July 27, 2006, and is incorporated by reference to Exhibit 2.1 to the Company's Current Report on Form 8-K, dated August 1, 2006.
For a prospective Budget franchisee, understanding this agreement might provide insight into the historical corporate structure and any potential implications for Budget's current operations or financial obligations. Reviewing this exhibit could reveal details about liabilities, assets, and responsibilities that were divided among the entities involved in the separation.