What section of the Budget License Agreement discusses assignment of account and other receivables?

According to Budget's 2025 Franchise Disclosure Document, the assignment of accounts and other receivables is addressed in Sections 7.7 and 14.5 of the Budget License Agreement. This information is crucial for prospective franchisees as it outlines the conditions under which Budget might take over or manage the franchisee's accounts receivable.

Understanding these sections is essential for franchisees to manage their cash flow and financial planning effectively. The agreement likely details the circumstances, such as default or breach of contract, under which Budget can exercise its right to assign accounts. This could impact the franchisee's ability to collect payments directly from customers and manage their revenue stream.

For a prospective Budget franchisee, it is important to carefully review Sections 7.7 and 14.5 of the Budget License Agreement with a legal advisor to fully understand the implications of these provisions. This includes understanding the triggers for assignment, the process Budget must follow, and the franchisee's rights and obligations in such a scenario. Knowing these details can help franchisees prepare for potential financial contingencies and protect their business interests.