Who is the lender in the Second Amendment for Budget?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
Inc., as a Permitted Nominee, PV Holding Corp., as a Permitted Nominee, and Cendant Rental Car Funding (AESOP) LIC**, as Lender, to the Second Amended and Restated Loan Agreement, dated as of June 3, 2004 (Incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K, dated January 20, 2008). |
| 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). | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the lender in the Second Amendment, dated May 9, 2007, is Avis Budget Rental Car Funding (AESOP) LLC. The Second Amendment 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 information is part of Item 21, which covers the financial statements of Budget. The inclusion of this amendment indicates that Budget has undergone modifications to its loan agreements, which could be relevant for prospective franchisees to understand the financial obligations and relationships of the company.
For a prospective Budget franchisee, understanding the financial stability and debt structure of the franchisor is crucial. While this excerpt identifies the lender for a specific amendment, it's important to review the full financial statements and related exhibits to gain a comprehensive understanding of Budget's financial health and any potential risks associated with these loan agreements. It is also important to note that this amendment is dated in 2007, so it may not be reflective of the current financial situation of the company.