Does the Budget FDD explain how the Second Amendment impacts the franchisee's financial obligations?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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). |
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Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, Item 21 includes references to several amendments related to loan agreements. Specifically, there is mention of a "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".
However, this "Second Amendment" refers to an amendment to a loan agreement and not to the Second Amendment of the United States Constitution. The document does not provide any information on how the Second Amendment of the United States Constitution might impact a franchisee's financial obligations.
Therefore, a prospective Budget franchisee should consult with the franchisor and legal counsel to understand any potential impacts related to the Second Amendment and their financial obligations, as this is not covered in the provided FDD excerpt.