How are the fees due to Budget documented?

is as other similarly situated System licensees. Licensee may be required to enter into participation or other agreements to evidence its participation in such Programs.

FEES AND OTHER PAYMENTS

• 7.1 Initial License Purchase Fee. Licensee will pay to Budget an Initial License Purchase Fee for the right to become the Network licensee in the Territory in the amount set forth and in the manner identified in the Summary Pages (Section 10(a)) upon execution of this Agreement. Such fees are fully earned by Budget upon execution of this Agreement and are not refundable, in whole or in part, under any circumstances.
• 7.2 License Fees. Licensee will pay to Budget by the tenth (10th) of each month: License Fees for the operation of the Rental Business, and other fees associated with the Rental

Business, in the amount set forth and in the manner identified in the Summary Pages (Section 10(b)). The definition of Gross Revenue for the Rental Business is defined in Paragraph 7.10. All fees due hereunder will be documented through the Monthly System Fee Report and invoice, which Licensee will submit to Budget along with all fees due hereunder. Such fees will be subject to adjustment in accordance with the results of any audit by Budget of the records of Licensee.

• 7.3 Monthly Marketing Fees. Licensee will pay to Budget a Monthly Marketing Fee identified in the Summary Pages (Section 10(c)). License Fees and Monthly Marketing Fees are collectively referred to as "System Fees."
• 7.4 Reservation Fees. Licensee will participate in the Reservation System Budget designates and in no other reservation system and will pay to Budget or one of its Related Entities the then-current reservation fees established by Budget or one of its Related Entities for each reservation transmitted to Licensee whether or not the reservation results in a rental ("Reservation Fees"). Licensee will accept and service all reservations at the time of day requested by the customer. The current Reservation Fee is identified in the Summary Pages (Section 10(d)). This fee is subject to change at the discretion of Budget. If Licensee fails to pay Reservation Fees when due, Budget may remove, suspend or block Licensee's right to receive reservations. In addition to the Reservation Fees payable to Budget or one of its Related Entities, Licensee will pay to certain, but not all, third party travel agencies the then-current Global Distribution System Fees ("GDS") identified in the Summary Pages (Section 10(e)).
• 7.5 Travel Agency Commissions. Licensee will participate in all Budget-approved programs for the centralized payment of travel agency commissions, will comply with Budget rules and regulations relating thereto, and will ensure that all such commissions are promptly paid in accordance with System policy. Currently, travel agency commissions are identified in the Summary Pages (Section 10(f)). If such commissions are not timely paid, Budget will have the right, but not the duty, to pay such commissions and bill Licensee for such commissions. Should Licensee fail to pay travel agent commissions when due, Budget has the right to cease all reservations which Budget, or any third party, transmits to Licensee until all amounts due to Budget or any third party are paid in full.
• 7.6 Termination Fee. If Licensee terminates this Agreement pursuant to Paragraph 11.2, Licensee may be charged a termination fee as described in Paragraph 11.2 and the Summary Pages (Section 10(g)).

Source: Item 23 — RECEIPTS (FDD pages 80–426)