What is the name of the Second Amended and Restated Loan Agreement that the Second Amendment modifies for 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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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, modifies the "Second Amended and Restated Loan Agreement, dated as of June 3, 2004". The parties to the Second Amendment include AESOP Leasing L.P. as Borrower, PV Holding Corp. and Quartx Fleet Management, Inc. as Permitted Nominees, and Avis Budget Rental Car Funding (AESOP) LLC as Lender.
This information is part of Item 21, which covers the financial statements of Budget. The inclusion of this loan agreement amendment suggests that Budget has financial obligations and agreements that could impact its overall financial health.
A prospective Budget franchisee should be aware of these financial agreements, as they could indirectly affect the franchise system's stability and the franchisor's ability to support its franchisees. Reviewing the referenced exhibits (10.8 to the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2007, dated August 8, 2007) would provide more detailed information about the loan agreement and its potential implications.