factual
Who are the Lessees in the Third Amendment related to Budget?
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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| Form 10-Q for the guarterly genod ended June 30, 2007, Gated August 5, 2007. Third Amendment, dated as of August 16, 2013, among AESOP Leasing L.P., as Borrower, PV Holding Corp., as a Permitted Nominee, Quarts Fleet Management, Inc., as a Permitted Nominee, and Avis Budget Third Amendment, dated as of June 3, 2004 (Incomporated by reference to Exhibit 10,36(c) to the Company's Annual Report on Rental Car Funding (AESOP) LLC, as Lender, to the Second Amended and Restated Loan Agreement, dated as of June 3, 2004 (Incomporated by reference to Exhibit 10,36(c) to the Company's Annual Report on Port 10-K for the year ended December 31, 2013, dated February 20, 2014). |
| Form 10-K for the year ended December 31, 2013, dated regruanty 20, 2019, as Borrower, PV Holding Corp., as a Permitted Nominee, Quartx Fleet Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Amendment, dated as of July 28, 2022, 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 Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., as a Permitted Nominee, and Avis Budget Fourth Management, Inc., |
| Amended and Restated Loan Agreement, dated as of June 3, 2004, among AESOP Leasing L.P., as Borrower, and Cendari Rental Car Funding (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphysical Company (AESOF) LLC 3 as Lenuer, microphy |
| First Amendment, dated as of December 23, 2005, among AESOP Leasing L.P., as Borrower, and Gendant Nethal Carr Tuning (AESOP) Ltd. as Lender, to the Tuning AESOP Leasing L.P., as Borrower, and Gendant Nethal Carr Tuning (AESOP) Ltd. as Lender, to the Tuning AESOP Leasing L.P., as Borrower, and Gendant Nethal Carr Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. as Lender, to the Tuning (AESOP) Ltd. a |
| Second Amendment, dated as of the May 9, 2007, among AESOP Leasing L.P., as Borrower, and Avis Budget Rental Car Funding (AESOP) LLC, as Lender, to the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendment of the Amendme |
| Third Amendment, dated as of August 16, 2013, among AESOP Leasing L.P., as Berrower, and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 16 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in the August 18 and Avis Budget Rental Car Funding (AESOP) LLC, as Lenters in |
| Fourth Amendment, dated as of July 28, 2022, between AESOP Leasing L.P., as Barder Render on Early State Render Community (AESOP) LLC, as Lender, to the Amendment of the Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Community Commun |
| Second Amended and Restated Master Motor Vehicle Operating Lease Agreement, dated as of June 3, 2004, among AESOP Leasing Let, as Lessor, and Central Motor Vehicle Operating Lease Agreement, of Lead of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Control of Least Co |
| First Amendment, dated December 23, 2005, among AESOP Leasing L.P., as Lessor, and Cendant Car Rental Group, Inc. — as Lessee and as Administrator, to we accord of Managard Control of the Company of Current Report on Form 8-K, dated January 20, 2006), |
| Third Amendment, dated as of May 9, 2007, among AESOP Leasing L.P., as Lessor and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, to the Second Pullar and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, to the Second Pullar and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, to the Second Pullar and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, to the Second Pullar and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, to the Second Pullar and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, to the Second Pullar and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, to the Second Pullar and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, to the Carrier and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, and the Second Pullar and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, and the Second Pullar and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, and the Second Pullar and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, and the Second Pullar and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, and the Second Pullar and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, and the Second Pullar and Avis Budget Car Rental and the Second Pullar and Avis Budget Car Rental and the Second Pullar and Avis Budget Car Rental and the Second Pullar and Avis Budget Car Rental and the Second Pullar and Avis Budget Car Rental and the Second Pullar and Avis Budget Car Rental and the Second Pullar and Avis Budget Car Rental and the Second Pullar and Avis Budget Car Rental and Avis Budget Car Rental and Avis Budget Car Rental and Avis Budget Car Rental and Avis Budget Car Rental and Avis Budget Car Rental and Avis Budget Car Rental and Avis Budget Car Rental and Avis Budget Car Rental and Avis Budget Car Rental and Avis Budget Car Rental and Avis Budget Car Rental and Avis Budget Car Rental and Avis Budge |
| August 8, 2001). Fourth Amendment, dated as of August 16, 2013, among AESOP Leasing L.P., as Lessor and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, to the Second Amended and Restated Master Motor Vehicle Operating Lease Agreement, dated as of June 3, 2004 (Incorporated by reference to Exhibit 10,38(c) to the Company's Annual Report on Form 10-K for the year ended December 31, 2013, dated February, Vehicle Operating Lease Agreement, dated as of June 3, 2004 (Incorporated by reference to Exhibit 10,38(c) to the Company's Annual Report on Form 10-K for the year ended December 31, 2013, dated February, Vehicle Operating Lease Agreement, dated as of June 3, 2004 (Incorporated by reference to Exhibit 10,38(c) to the Company's Annual Report on Form 10-K for the year ended December 31, 2013, dated February, Vehicle Operating Lease Agreement, dated as of June 3, 2004 (Incorporated by reference to Exhibit 10,38(c) to the Company's Annual Report on Form 10-K for the year ended December 31, 2013, dated February, Vehicle Operating Lease Agreement, dated as of June 3, 2004 (Incorporated by reference to Exhibit 10,38(c) to the Company's Annual Report on Form 10-K for the year ended December 31, 2013, dated February, Vehicle Operating Lease Agreement, dated as of June 3, 2004 (Incorporated by reference to Exhibit 10,48(c) to the Company's Annual Report on Form 10-K for the year ended December 31, 2013, dated February, Vehicle Operating Lease Agreement, dated as of June 3, 2004 (Incorporated by Reference to Exhibit 10,48(c) to the Company's Annual Report on Form 10-K for the year ended December 31, 2013, dated February, Vehicle Operating Lease Agreement, dated as of June 3, 2004 (Incorporated by Reference to Exhibit 10,48(c)). |
| 20, 2014). Fifth Amendment, dated as of July 23, 2022, among AESOP Leasing L.P., as Lessor and Avis Budget Car Rental, LLC, as Lessee and as the Administrator, to the Second Amended and Restated Master Motor Vehicle Operating Lease Agreement, dated as of June 3, 2004 (Incorporated by reference to Exhibit 10.3 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022, dated November 1, 2022). |
| Amended and Restated Master Motor Vehicle Finance Lease Agreement, dated as of June 3, 2004, among AESOP Leasing L.P., as Lesser, Gerdant Car Rental Group, inc., as Lessee, as Company's Annual Report on Form 10-K Finance Lease Guarantor, Avis Rent & Car System, Inc., as Lessee, and Budget Rent & Car System, Inc., as Lessee (Incorporated by reference to Exhibit 10.30(a) to the Company's Annual Report on Form 10-K |
| for the year ended December 31, 2005, Baled Natrol. 1, 2007. First Amendment, dated as of December 32, 2005, among AESOP Leasing L.P., as Lesser. Cendant Car Rental Group, Inc., as Lessee, as Administrator and as Finance Lease Guarantor, Avis Rent A Car System Inc., as Lessee, and Budget Rent A Car System. Inc., as Lessee, to the Amended and Restated Master Motor Vathicle Finance Lease Agreement, dated as of June 3, 2004 (Incorporated by reference to Exhibit Inc.), as Lessee, and Budget Rent A Car System. Inc., as Lessee, to the Amended and Restated Master Motor Vathicle Finance Lease Agreement, dated as of June 3, 2004 (Incorporated by reference to Exhibit Inc.**), as Lessee, and Budget Rent A Car System. Inc., as Lessee, to the Amended and Restated March 1, 2007. |
| 10.40 | Third Amendment, dated as of May 9, 2007, among AESOP Leasing L.P., as Lessor, Avis Budget Car Rental, LLC, as Lessee, as Administrator and as Finance Lease Guarantor, Avis Rent A Car System, LLC, as Lessee, and Budget Rent A Car System, inc., as Lessee, to the Amended and Restated Master Motor Vehicle Finance Lease Agreement, dated as of June 3, 2004 (Incorporated by reference to Exhibit 10.11 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 Third Amendment, dated May 9, 2007, involves several parties. Specifically, Avis Budget Car Rental, LLC, Avis Rent A Car System, LLC, and Budget Rent A Car System, Inc. are identified as Lessees. AESOP Leasing L.P. is the Lessor, while Avis Budget Car Rental, LLC also acts as Administrator and Finance Lease Guarantor. This amendment pertains to the Amended and Restated Master Motor Vehicle Finance Lease Agreement, originally dated June 3, 2004.
For a prospective Budget franchisee, understanding these lease agreements is crucial as they likely govern the terms under which Budget obtains its fleet of vehicles. The franchisee should be aware of the financial obligations and responsibilities associated with these leases, as they could impact the profitability and operational costs of the franchise. The fact that Avis Budget Car Rental, LLC is both a Lessee and the Administrator/Guarantor suggests a complex relationship between the entities involved.
It is important for potential franchisees to review the referenced exhibits (Exhibit 10.11 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2007, dated August 8, 2007) to fully understand the terms and conditions of the Third Amendment and the Master Motor Vehicle Finance Lease Agreement. This will provide clarity on the financial commitments, responsibilities, and potential liabilities that Budget franchisees may indirectly bear through their franchise agreement. Understanding these details is essential for making an informed investment decision.
Prospective franchisees should seek clarification from Budget regarding how these lease agreements affect their specific franchise operations. Key questions to ask include: What are the specific vehicle leasing costs that the franchisee will be responsible for? What are the implications if Budget defaults on its lease obligations? And how do these agreements impact the franchisee's ability to manage their vehicle fleet effectively?
Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only.
It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.