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Is there any dependency between the Second Amendment and other agreements for Budget franchisees?

Budget Franchise · 2025 FDD

Answer 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).

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, is listed among several other amendments and agreements related to 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. These are in relation to the Second Amended and Restated Loan Agreement, dated June 3, 2004.

This Second Amendment is incorporated by reference to Exhibit 10.8 of the company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2007, dated August 8, 2007. The listing of this amendment in the financial statements suggests it is a part of the financial obligations and agreements that Budget, as a company, has entered into.

For a prospective franchisee, this indicates that Budget's financial structure involves complex loan agreements and amendments. While the document lists the Second Amendment, it does not detail how this specific amendment directly affects franchisees. It is important for potential franchisees to understand the implications of these financial agreements on Budget's overall financial health, as this could indirectly affect the franchise system. Further investigation into these agreements may be warranted to fully understand any potential risks or benefits.

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.