Document:

Amending Agreement No. 4

 Exhibit 10.50(d) 
 Execution Copy 
 AMENDING AGREEMENT NO. 4 
 THIS AGREEMENT made as of the 21st day of November, 2007, 
 B E T W E E N: 
 AVISCAR INC., 
 a corporation
incorporated under the laws of Canada, 
 (hereinafter called the “Avis General Partner”), 
 - and - 
 BUDGETCAR INC.,

 a corporation existing under the laws of Canada, 
 (hereinafter called the “Budget General Partner”), 
 - and - 
 BNY TRUST COMPANY OF CANADA, 
 a
trust company incorporated under the laws of Canada and registered to 
 carry on the business of a trust company in each of the provinces of

 Canada, in its capacity as trustee of STARS TRUST, a trust established 
 under the laws of the Province of Ontario, 
 (hereinafter called the “STARS Limited Partner”), 
 - and - 
 MONTREAL TRUST COMPANY OF CANADA, 
 a
trust company incorporated under the laws of Canada and registered to 
 carry on the business of a trust company in each of the provinces in

 Canada, in its capacity as trustee of BAY STREET FUNDING TRUST, 
 a trust established under the laws of the Province of Ontario, 
 (hereinafter called the “Bay Street Limited Partner”). 
 WHEREAS the Avis General Partner,
the Budget General Partner, the STARS Limited Partner and the Bay Street Limited Partner have entered into a fourth amended and restated limited partnership agreement made as of the 20th day of April, 2005, as amended by amending agreements between
the parties dated October 11, 2005, July 7, 2006 and December 11, 2006 (collectively, the “Limited Partnership Agreement”); 
 AND WHEREAS the Avis General Partner, the Budget General Partner, the STARS Limited Partner and the Bay Street Limited Partner wish to amend the Limited Partnership Agreement; 

 NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the premises and covenants and
agreements of the parties herein contained and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged by each of the parties), the parties hereby covenant and agree as follows: 
  

	1.	Interpretation 

  

	 	(a)	All words and expressions defined in the Limited Partnership Agreement and not otherwise defined in this Agreement have the respective meanings specified in the Limited Partnership
Agreement. 

  

	 	(b)	Section headings are for convenience only. 

  

	2.	Amendments to the Limited Partnership Agreement 

  

	2.1	Section 1.1 of the Limited Partnership Agreement is hereby amended by deleting the definition of “Available Call Amount” and replacing it with the following:

 ““Available Call Amount” means, in respect of a Limited Partner, the amount by which (a) the sum
of $300,000,000 and the aggregate Principal Amount of Bonds issued by such Limited Partner outstanding at such time exceeds (b) the balance of the Limited Partner’s Capital Account of such Limited Partner at such time; provided that on and
after the occurrence of a Funding Termination Event for such Limited Partner, the Available Call Amount for such Limited Partner shall be deemed to be zero;”. 
  

	2.2	Section 3.3(b) of the Limited Partnership Agreement is hereby deleted and replaced with the following: 

 “(b) The balance of each Limited Partner’s Capital Account shall not at any time exceed an amount equal to the sum of $300,000,000 plus the
aggregate Principal Amount of Bonds issued and outstanding by such Limited Partner at the time of determination.”. 
  

	3.	Other Documents 

 Any reference to the Limited Partnership
Agreement made in any documents delivered pursuant thereto or in connection therewith shall be deemed to refer to the Limited Partnership Agreement as amended or supplemented from time to time. 
  

	4.	Miscellaneous 

  

	 	(a)	With the exception of the foregoing amendments, the Limited Partnership Agreement shall continue in full force and effect, unamended. 

  

	 	(b)	This Agreement shall enure to the benefit of and be binding upon the parties, their successors and any permitted assigns. 

  

 - 2 - 

	 	(c)	This Agreement may be executed in one or more counterparts each of which shall be deemed an original and all of which when taken together, shall constitute one and the same
instrument. 

  

	 	(d)	None of the rights or obligations hereunder shall be assignable or transferable by any party without the prior written consent of the other party. 

  

	 	(e)	This Agreement shall be governed and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein. 

  

 - 3 - 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their authorized
signatories thereunto duly authorized, as of the date first above written. 
  

			
	AVISCAR INC.
		
	by	 	 /s/ David Calabria

	Name:	 	David Calabria
	Title:	 	Assistant Treasurer
		
		 	  

		 	Name:
		 	Title:

  

			
	BUDGETCAR INC.
		
	by	 	 /s/ Rochelle Tarlowe

	Name:	 	Rochelle Tarlowe
	Title:	 	Vice President and Treasurer
		
		 	  

		 	Name:

  

			
	 BNY TRUST COMPANY OF

 CANADA, as trustee of STARS TRUST
 (with liability limited to the assets of the
 Trust) by its Securitization Agent, BMO
 NESBITT BURNS
INC.

		
	by	 	 /s/ Terry Ritchie

	Name:	 	Terry Ritchie
	Title:	 	Managing Director
		
		 	 /s/ Christopher Romano

	Name:	 	Christopher Romano
	Title:	 	Managing Director

			
	 MONTREAL TRUST COMPANY OF

 CANADA, as trustee of BAY STREET

 FUNDING TRUST (with liability limited
 to the assets of the trust) by its
 administrator, SCOTIA CAPITAL INC.

		
	by	 	 /s/ Douglas Noe

	Name:	 	Douglas Noe
	Title:	 	Director, Structured Finance
		
		 	  

		 	Name:
		 	Title:

 The undersigned hereby acknowledges notice of and consents to the foregoing amendments to the Limited
Partnership Agreement. 
 DATED this 21st day of November, 2007. 
  

			
	AVIS BUDGET CAR RENTAL, LLC
		
	by	 	 /s/ David Calabria

	Name:	 	David Calabria
	Title:	 	Assistant TreasurerAmending Agreement No. 5

 Exhibit 10.50(e) 
 Execution Copy 
 AMENDING AGREEMENT NO. 5 
 THIS AGREEMENT made as of the 12th day of February, 2008, 
 B E T W E E N: 
 AVISCAR INC., 
 a corporation incorporated under the laws of Canada, 
 (hereinafter called the “Avis General
Partner”), 
 - and - 
 BUDGETCAR INC., 
 a corporation existing under the laws of Canada, 
 (hereinafter called the “Budget General Partner”), 
 - and - 
 BNY TRUST COMPANY OF CANADA, 
 a trust company incorporated under the laws of Canada and registered to 
 carry on the business of a trust company in each of the provinces of 
 Canada, in its capacity as trustee of
STARS TRUST, a trust established 
 under the laws of the Province of Ontario, 
 (hereinafter called the “STARS Limited Partner”), 
 - and - 
 MONTREAL TRUST COMPANY OF CANADA, 
 a trust company incorporated under the laws of Canada and registered to 
 carry on the business of a trust company in each of the provinces in 
 Canada, in its capacity as trustee of
BAY STREET FUNDING TRUST, 
 a trust established under the laws of the Province of Ontario, 
 (hereinafter called the “Bay Street Limited Partner”). 
 WHEREAS the Avis General Partner, the Budget General Partner, the STARS Limited Partner and the Bay Street Limited Partner have entered into a fourth amended and restated limited partnership agreement made as of the
20th day of April, 2005, as amended by amending agreements between the parties dated October 11, 2005, July 7, 2006, December 11, 2006 and November 21, 2007 (collectively, the “Limited Partnership
Agreement”); 
 AND WHEREAS the Avis General Partner, the Budget General Partner, the STARS Limited Partner and the Bay Street
Limited Partner wish to amend the Limited Partnership Agreement; 

 NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the premises and covenants and
agreements of the parties herein contained and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged by each of the parties), the parties hereby covenant and agree as follows: 
  

	1.	Interpretation 

  

	 	(a)	All words and expressions defined in the Limited Partnership Agreement and not otherwise defined in this Agreement have the respective meanings specified in the Limited Partnership
Agreement. 

  

	 	(b)	Section headings are for convenience only. 

  

	2.	Amendments to the Limited Partnership Agreement 

  

	2.1	Section 1.1 of the Limited Partnership Agreement is hereby amended by deleting the definition of “Available Call Amount” and replacing it with the following:

 ““Available Call Amount” means, (x) in respect of the STARS Limited Partner, the amount by which
(a) the sum of $300,000,000 and the aggregate Principal Amount of Bonds issued by the STARS Limited Partner outstanding at such time exceeds (b) the balance of the STARS Limited Partner’s Capital Account at such time; and (y) in
respect of the Bay Street Limited Partner, the amount by which (a) the sum of $175,000,000 and the aggregate Principal Amount of Bonds issued by the Bay Street Limited Partner outstanding at such time exceeds (b) the balance of the Bay
Street Limited Partner’s Capital Account at such time; provided that on and after the occurrence of a Funding Termination Event for any Limited Partner, the Available Call Amount for such Limited Partner shall be deemed to be zero;”.

  

	2.2	Section 3.3(a) of the Limited Partnership Agreement is hereby amended by deleting the second sentence of such Section and replacing it with the following:

 “If the Capital Call is made prior to a Funding Termination Event in respect of each Limited Partner, each Limited
Partner shall be required to contribute to the Partnership an amount equal to 50% of such Capital Call until the Bay Street Limited Partner has reached its Available Call Amount and thereafter the STARS Limited Partner shall be required to
contribute to the Partnership an amount equal to 100% of the balance of such Capital Call (provided in all cases that such required amounts shall not exceed the Available Call Amount for such Limited Partner).”. 
  

	2.3	Section 3.3(b) of the Limited Partnership Agreement is hereby deleted and replaced with the following: 

 “(b) The balance of the STARS Limited Partner’s Capital Account shall not at any time exceed an amount equal to the sum of $300,000,000 plus the
aggregate Principal Amount of Bonds issued and outstanding by the STARS Limited Partner at the time of determination. The balance of the Bay Street Limited Partner’s Capital Account shall not at any time exceed an amount equal to the sum of
$175,000,000 plus the aggregate Principal Amount of Bonds issued and outstanding by the Bay Street Limited Partner at the time of determination.”. 
  

 - 2 - 

	2.4	Sections 4.7(b)(v) and 4.7(b)(vi) are hereby amended by deleting the words “Funding Amount” where those words appear in such Sections and replacing them with the
words “Funded Amount”. 

  

	3.	Other Documents 

 Any reference to the Limited Partnership
Agreement made in any documents delivered pursuant thereto or in connection therewith shall be deemed to refer to the Limited Partnership Agreement as amended or supplemented from time to time. 
  

	4.	Miscellaneous 

  

	 	(a)	With the exception of the foregoing amendments, the Limited Partnership Agreement shall continue in full force and effect, unamended. 

  

	 	(b)	This Agreement shall enure to the benefit of and be binding upon the parties, their successors and any permitted assigns. 

  

	 	(c)	This Agreement may be executed in one or more counterparts each of which shall be deemed an original and all of which when taken together, shall constitute one and the same
instrument. 

  

	 	(d)	None of the rights or obligations hereunder shall be assignable or transferable by any party without the prior written consent of the other party. 

  

	 	(e)	This Agreement shall be governed and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein. 

  

 - 3 - 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their authorized
signatories thereunto duly authorized, as of the date first above written. 
  

			
	AVISCAR INC.
		
	by	 	 /s/ David Calabria

	Name:	 	David Calabria
	Title:	 	Assistant Treasurer
		
		 	  

		 	Name:
		 	Title:

  

			
	BUDGETCAR INC.
		
	by	 	 /s/ Rochelle Tarlowe

	Name:	 	Rochelle Tarlowe
	Title:	 	Vice President and Treasurer
		
		 	  

		 	Name:

  

			
	 BNY TRUST COMPANY OF

 CANADA, as trustee of STARS TRUST
 (with liability limited to the assets of the
 Trust) by its Securitization Agent, BMO
 NESBITT BURNS
INC.

		
	by	 	 /s/ Terry Ritchie

	Name:	 	Terry Ritchie
	Title:	 	Managing Director
		
		 	 /s/ Christopher Romano

	Name:	 	Christopher Romano
	Title:	 	Managing Director

			
	 MONTREAL TRUST COMPANY OF

 CANADA, as trustee of BAY STREET

 FUNDING TRUST (with liability limited
 to the assets of the trust) by its
 administrator, SCOTIA CAPITAL INC.

		
	by	 	 /s/ Douglas Noe

	Name:	 	Douglas Noe
	Title:	 	Director, Structured Finance
		
		 	  

		 	Name:
		 	Title:

 The undersigned hereby acknowledges notice of and consents to the foregoing amendments to the Limited
Partnership Agreement. 
 DATED this 12th day of February, 2008. 
  

			
	AVIS BUDGET CAR RENTAL, LLC
		
	by	 	 /s/ David Calabria

	Name:	 	David Calabria
	Title:	 	Director, Finance

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