Does the Budget FDD mention any fees that the franchisee might incur due to the Second Amendment?
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, the term "Second Amendment" appears within Item 21, which pertains to the company's financial statements. However, the document uses the term to refer to a specific amendment to a loan agreement, dated May 9, 2007, among AESOP Leasing L.P., PV Holding Corp., Quartx Fleet Management, Inc., and Avis Budget Rental Car Funding (AESOP) LLC. This amendment is related to a Second Amended and Restated Loan Agreement from June 3, 2004.
This reference to the "Second Amendment" has nothing to do with the constitutional right to bear arms. Instead, it is a legal term referring to modifications made to financial agreements involving Budget's parent companies and related entities. The document incorporates this amendment by reference to an exhibit in the company's quarterly report on Form 10-Q for the period ending June 30, 2007.
Therefore, the Budget FDD does not mention any fees or costs that a franchisee might incur related to the Second Amendment of the United States Constitution. The use of the term is purely in a financial context, concerning amendments to loan agreements and financial reporting requirements for the company.