Who is the trustee for the Amended and Restated Series 2023-2 Supplement for Budget?
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). |
| 10.58 | First Amendment to Series 2023-1 Supplement, dated as of February 5, 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 2023-1 Agent, (Incorporated by reference to Exhibit 10.5 to the Company's Current Report on Form 10-Q, for the guarterly period ended March 31, 2024, dated May 2, 2024). |
| 10,59 | Amended and Restated Series 2023-2 Supplement, dated as of December 27, 2024, between Avis Budget Rental Car Funding (AESOP) LLC and The Bank of New York Melion Trust Company, N.A., as trustee and as Series 2023-2 Agent, |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the trustee for the Amended and Restated Series 2023-2 Supplement is The Bank of New York Mellon Trust Company, N.A. The supplement is dated as of December 27, 2024, and the agreement is between Avis Budget Rental Car Funding (AESOP) LLC and The Bank of New York Mellon Trust Company, N.A., acting as both trustee and Series 2023-2 Agent.
This information is found within Item 21, which lists the financial statements and related documents relevant to Budget's financial structure. These supplements are part of the financial agreements that Budget enters into for funding purposes.
For a prospective franchisee, understanding these financial relationships is less about day-to-day operations and more about the overall financial health and structure of the Budget franchise system. While franchisees are not direct parties to these agreements, the stability and reliability of the franchisor's financial arrangements can impact the long-term viability of the franchise system.