Who are the parties involved in the Series 2023-1 Supplement for Budget, dated January 17, 2023?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
| 10.56 | Amended and Restated Series 2022-5 Supplement, dated as of December 27, 2024, between Avis Budget Rental Car Funding (AESOP) LLC and The Bank of New York Mellon Trust Company, N.A., as trustee and as Series 2022-5 Agent. |
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| 10.57 | Series 2023-1 Supplement, dated as of January 17, 2023, between Avis Budget Rental Car Funding (AESOP) LLC and The Bank of New York Mellon Trust Company, N.A., as trustee and as Series 2023-1 Agent (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K dated January 20, 2023). |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the parties involved in the Series 2023-1 Supplement, dated January 17, 2023, are Avis Budget Rental Car Funding (AESOP) LLC and The Bank of New York Mellon Trust Company, N.A., as trustee and as Series 2023-1 Agent. This supplement is referenced as Exhibit 10.1 in Budget's Current Report on Form 8-K, dated January 20, 2023.
For a potential Budget franchisee, understanding the relationships and agreements Budget has with other entities is crucial. These supplements often relate to financial arrangements and can provide insight into the financial structure and stability of the company. The involvement of Avis Budget Rental Car Funding (AESOP) LLC and The Bank of New York Mellon Trust Company, N.A., suggests a structured financial agreement, likely related to funding or debt obligations.
It's important for prospective franchisees to review these referenced exhibits (such as Exhibit 10.1 to the Company's Current Report on Form 8-K) to gain a deeper understanding of the specific terms and conditions outlined in the Series 2023-1 Supplement. This will help them assess any potential impact on Budget's operations and, by extension, on their future franchise.