Does the Budget FDD outline any obligations for the lender in 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 Second Amendment, dated May 9, 2007, is 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. This amendment is incorporated by reference to Exhibit 10.8 of the company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2007, dated August 8, 2007.
However, the excerpt from Budget's FDD does not detail the specific obligations of the lender, Avis Budget Rental Car Funding (AESOP) LLC, within the Second Amendment. The document only identifies the parties involved and the date of the amendment.
To fully understand the lender's obligations, a prospective Budget franchisee should review the referenced exhibits (Exhibit 10.8 to the Company's Quarterly Report on Form 10-Q) and consult with Budget's representatives. This will provide a comprehensive understanding of the financial agreements and any potential liabilities or responsibilities associated with the loan agreement.