Document:

EX-10.74

 Exhibit 10.74 

REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT dated November 14, 2014 (the “Agreement”) is entered into by and among Avis Budget
Car Rental, LLC, a Delaware limited liability company and Avis Budget Finance, Inc., a Delaware corporation (together, the “Company”), the guarantors listed in Schedule 1 hereto (the “Guarantors”), Credit Agricole
Securities (USA) Inc. (the “Representative”), and the other initial purchasers listed on Schedule 2 hereto (collectively, with the Representative, the “Initial Purchasers”). 

The Company, the Guarantors and the Initial Purchasers are parties to the Purchase Agreement dated November 6, 2014 (the
“Purchase Agreement”), which provides for the sale by the Company to the Initial Purchasers of $175,000,000 aggregate principal amount of the Company’s 5.50% Senior Notes due 2023 (the “Securities”) which will
be guaranteed on an unsecured senior basis by each of the Guarantors. As an inducement to the Initial Purchasers to enter into the Purchase Agreement, the Company and the Guarantors have agreed to provide to the Initial Purchasers and their direct
and indirect transferees the registration rights set forth in this Agreement. The execution and delivery of this Agreement is a condition to the closing under the Purchase Agreement. 

In consideration of the foregoing, the parties hereto agree as follows: 

1. Definitions. As used in this Agreement, the following terms shall have the following meanings: 

“Additional Guarantor” shall mean any subsidiary of the Company that executes a Guarantee under the Indenture after the date
of this Agreement. 
 “Business Day” shall mean any day that is not a Saturday, Sunday or other day on which commercial
banks in New York City are authorized or required by law to remain closed. 
 “Closing Date” shall mean November 14,
2014. 
 “Company” shall have the meaning set forth in the preamble and shall also include the Company’s successors.

 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time. 

“Exchange Dates” shall have the meaning set forth in Section 2(a)(ii) hereof. 

“Exchange Offer” shall mean the exchange offer by the Company and the Guarantors of Exchange Securities for Registrable
Securities pursuant to Section 2(a) hereof. 
 “Exchange Offer Registration” shall mean a registration under the
Securities Act effected pursuant to Section 2(a) hereof. 

 “Exchange Offer Registration Statement” shall mean an exchange offer
registration statement on Form S-4 (or, if applicable, on another appropriate form) and all amendments and supplements to such registration statement, in each case including the Prospectus contained therein or deemed a part thereof, all exhibits
thereto and any document incorporated by reference therein. 
 “Exchange Securities” shall mean senior notes issued by the
Company and guaranteed by the Guarantors under the Indenture containing terms identical to the Securities (except that the Exchange Securities will not be subject to restrictions on transfer or to any increase in annual interest rate for failure to
comply with this Agreement) and to be offered to Holders of Securities in exchange for Securities pursuant to the Exchange Offer. 

“Free Writing Prospectus” means each free writing prospectus (as defined in Rule 405 under the Securities Act) prepared by or
on behalf of the Company or used or referred to by the Company in connection with the sale of the Securities. 

“Guarantees” shall mean the guarantees of the Securities and Exchange Securities by the Guarantors under the Indenture. 

“Guarantors” shall have the meaning set forth in the preamble and shall also include any Guarantor’s successors and any
Additional Guarantors. 
 “Holders” shall mean the Initial Purchasers, for so long as they own any Registrable Securities,
and each of their successors, assigns and direct and indirect transferees who become owners of Registrable Securities under the Indenture; provided that for purposes of Sections 4 and 5 of this Agreement, the term “Holders” shall
include Participating Broker-Dealers. 
 “Indemnified Person” shall have the meaning set forth in Section 5(c) hereof.

 “Indemnifying Person” shall have the meaning set forth in Section 5(c) hereof. 

“Indenture” shall mean the Indenture relating to the Securities dated as of April 3, 2013 among the Company, the
Guarantors from time to time parties thereto and The Bank of Nova Scotia Trust Company of New York, as Trustee, and as the same may be amended or supplemented from time to time in accordance with the terms thereof. 

“Initial Purchasers” shall have the meaning set forth in the preamble. 

“Inspector” shall have the meaning set forth in Section 3(a)(xiii) hereof. 

“Issuer Information” shall have the meaning set forth in Section 5(a) hereof. 

“Majority Holders” shall mean the Holders of a majority of the aggregate principal amount of the outstanding Registrable
Securities; provided that whenever the consent or approval of Holders of a specified percentage of Registrable Securities is required hereunder, any Registrable Securities owned directly or indirectly by the Company or any of its affiliates
shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage or amount; and provided, further, that if the Company shall issue any

  
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additional Securities under the Indenture prior to consummation of the Exchange Offer or, if applicable, the effectiveness of any Shelf Registration Statement, such additional Securities and the
Registrable Securities to which this Agreement relates shall be treated together as one class for purposes of determining whether the consent or approval of Holders of a specified percentage of Registrable Securities has been obtained. 

“Participating Broker-Dealers” shall have the meaning set forth in Section 4(a) hereof. 

“Person” shall mean an individual, partnership, limited liability company, corporation, trust or unincorporated organization,
or a government or agency or political subdivision thereof. 
 “Prospectus” shall mean the prospectus included in a
Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus supplement, including a prospectus supplement with respect to the terms of the offering of any portion of the
Registrable Securities covered by a Shelf Registration Statement, and by all other amendments and supplements to such prospectus, and in each case including any document incorporated by reference therein. 

“Purchase Agreement” shall have the meaning set forth in the preamble. 

“Registrable Securities” shall mean the Securities; provided that the Securities shall cease to be Registrable
Securities when (i) a Registration Statement with respect to such Securities has become effective under the Securities Act and such Securities have been exchanged or disposed of pursuant to such Registration Statement, (ii) such Securities
become eligible to be sold pursuant to Rule 144 under the Securities Act by a Person that is not an “affiliate” (within the meaning of Rule 405 under the Securities Act) of the Company or any Guarantor, (iii) such Securities are sold
under circumstances in which any legend borne by such Securities relating to restrictions on transferability thereof, under the Securities Act or otherwise, is removed by the Company or (iv) such Securities cease to be outstanding. 

“Registration Expenses” shall mean any and all expenses incident to performance of or compliance by the Company and the
Guarantors with this Agreement, including without limitation: (i) all SEC, stock exchange or Financial Industry Regulatory Authority, Inc. registration and filing fees, (ii) all fees and expenses incurred in connection with compliance with
state securities or blue sky laws (including reasonable fees and disbursements of not more than one counsel for any Underwriters or Holders (whose counsel shall be selected by the Holders of a majority in aggregate principal amount of Registrable
Securities to be registered in the applicable Registration Statement) in connection with blue sky qualification of any Exchange Securities or Registrable Securities), (iii) all expenses of any Persons in preparing or assisting in preparing,
word processing, printing and distributing any Registration Statement, any Prospectus and any amendments or supplements thereto, any underwriting agreements, securities sales agreements or other similar agreements and any other documents relating to
the performance of and compliance with this Agreement, (iv) all rating agency fees, (v) all fees and disbursements relating to the qualification of the Indenture under applicable securities laws, (vi) the fees and disbursements of the
Trustee and its counsel, (vii) the fees and disbursements of counsel for the Company and the Guarantors and, in the case of a Shelf Registration Statement, the fees and disbursements of one counsel for the Holders (which counsel shall be
selected by the Majority 

  
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Holders and which counsel may also be counsel for the Initial Purchasers), and (viii) the fees and disbursements of the independent public accountants of the Company and the Guarantors,
including the expenses of any special audits or “comfort” letters required by or incident to the performance of and compliance with this Agreement, but excluding any and all fees and expenses of advisors or counsel to the Underwriters
(other than fees and expenses set forth in clause (ii) above) or the Holders and underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating to the sale or disposition of Registrable Securities by a Holder
pursuant to any Registration Statement. 
 “Registration Statement” shall mean any registration statement of the Company and
the Guarantors that covers any of the Exchange Securities or Registrable Securities pursuant to the provisions of this Agreement and all amendments and supplements to any such registration statement, including post-effective amendments, in each case
including the Prospectus contained therein or deemed a part thereof, all exhibits thereto and any document incorporated by reference therein. 

“Representative” shall have the meaning set forth in the preamble. 

“SEC” shall mean the United States Securities and Exchange Commission. 

“Securities” shall have the meaning set forth in the preamble. 

“Securities Act” shall mean the Securities Act of 1933, as amended from time to time. 

“Shelf Additional Interest Date” shall have the meaning set forth in Section 2(d) hereof. 

“Shelf Effectiveness Period” shall have the meaning set forth in Section 2(b) hereof. 

“Shelf Registration” shall mean a registration effected pursuant to Section 2(b) hereof. 

“Shelf Registration Statement” shall mean a “shelf” registration statement of the Company and the Guarantors that
covers all or a portion of the Registrable Securities (but no other securities unless approved by a majority of the Holders whose Registrable Securities are to be covered by such Shelf Registration Statement) on an appropriate form under Rule 415
under the Securities Act, or any similar rule that may be adopted by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein or deemed a
part thereof, all exhibits thereto and any document incorporated by reference therein. 
 “Shelf Request” shall have the
meaning set forth in Section 2(b) hereof. 
 “Staff” shall mean the staff of the SEC. 

“Target Registration Date” shall have the meaning set forth in Section 2(b) hereof. 

“Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended from time to time. 

  
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 “Trustee” shall mean the trustee with respect to the Securities under the
Indenture. 
 “Underwriter” shall have the meaning set forth in Section 3(e) hereof. 

“Underwritten Offering” shall mean an offering in which Registrable Securities are sold to an Underwriter for reoffering to
the public. 
 2. Registration Under the Securities Act. (a) To the extent not prohibited by any applicable law or applicable
interpretations of the Staff, the Company and the Guarantors shall use their reasonable best efforts to (i) cause to be filed with the SEC an Exchange Offer Registration Statement covering an offer to the Holders to exchange all the Registrable
Securities for Exchange Securities and (ii) have such Registration Statement remain effective until 180 days after the last Exchange Date for use by one or more Participating Broker-Dealers. The Company and the Guarantors shall commence the
Exchange Offer promptly after the Exchange Offer Registration Statement is declared effective by the SEC and use their reasonable best efforts to complete the Exchange Offer not later than 45 days after such effective date. 

The Company and the Guarantors shall commence the Exchange Offer by mailing the related Prospectus, appropriate letters of transmittal and
other accompanying documents to each Holder stating, in addition to such other disclosures as are required by applicable law, substantially the following: 

(i) that the Exchange Offer is being made pursuant to this Agreement and that all Registrable Securities validly tendered and
not properly withdrawn will be accepted for exchange; 
 (ii) the dates of acceptance for exchange (which shall be a period
of at least 20 Business Days from the date such notice is mailed) (the “Exchange Dates”); 
 (iii) that any
Registrable Security not tendered will remain outstanding and continue to accrue interest but will not retain any rights under this Agreement, except as otherwise specified herein; 

(iv) that any Holder electing to have a Registrable Security exchanged pursuant to the Exchange Offer will be required to
(A) surrender such Registrable Security, together with the appropriate letters of transmittal, to the institution and at the address (located in the Borough of Manhattan, The City of New York) and in the manner specified in the notice, or
(B) effect such exchange otherwise in compliance with the applicable procedures of the depositary for such Registrable Security, in each case prior to the close of business on the last Exchange Date; and 

(v) that any Holder will be entitled to withdraw its election, not later than the close of business on the last Exchange Date,
by (A) sending to the institution and at the address (located in the Borough of Manhattan, The City of New York) specified in the notice, a telegram, telex, facsimile transmission or letter setting forth the name of such Holder, the principal
amount of Registrable Securities delivered for exchange and a statement that such Holder is withdrawing its election to have such Securities exchanged or (B) effecting such withdrawal in compliance with the applicable procedures of the
depositary for the Registrable Securities. 

  
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 As a condition to participating in the Exchange Offer, each Holder will be required to represent
to the Company and the Guarantors prior to the consummation of the Exchange Offer (which representation may be contained in the letter of transmittal contemplated by the Exchange Offer Registration Statement) that (i) any Exchange Securities to
be received by it will be acquired in the ordinary course of its business, (ii) at the time of the commencement of the Exchange Offer it is not engaged in, and does not intend to engage in, and has no arrangement or understanding with any
Person to participate in the distribution (within the meaning of the Securities Act) of the Exchange Securities in violation of the provisions of the Securities Act, (iii) it is not an “affiliate” (within the meaning of Rule 405 under
the Securities Act) of the Company or any Guarantor and (iv) if such Holder is a broker-dealer that will receive Exchange Securities for its own account in exchange for Registrable Securities that were acquired as a result of market-making or
other trading activities, then such Holder will deliver a Prospectus (or, to the extent permitted by law, make available a Prospectus to purchasers) in connection with any resale of such Exchange Securities. 

As soon as practicable after the last Exchange Date, the Company and the Guarantors shall: 

(i) accept for exchange Registrable Securities or portions thereof validly tendered and not properly withdrawn pursuant to the
Exchange Offer; and 
 (ii) deliver, or cause to be delivered, to the Trustee for cancellation all Registrable Securities or
portions thereof so accepted for exchange by the Company and issue, and cause the Trustee to promptly authenticate and deliver to each Holder, Exchange Securities equal in principal amount to the principal amount of the Registrable Securities
validly tendered by such Holder and accepted for exchange pursuant to the Exchange Offer. 
 The Company and the Guarantors shall use their
reasonable best efforts to complete the Exchange Offer as provided above and shall comply with the applicable requirements of the Securities Act, the Exchange Act and other applicable laws and regulations in connection with the Exchange Offer. The
Exchange Offer shall not be subject to any conditions, other than that the Exchange Offer does not violate any applicable law or applicable interpretations of the Staff. 

(b) In the event that (i) the Company and the Guarantors determine that the Exchange Offer Registration provided for in
Section 2(a) above is not available or may not be completed as soon as practicable after the last Exchange Date because it would violate any applicable law or applicable interpretations of the Staff, (ii) the Exchange Offer is not for any
other reason completed by the 450th day after the issuance of the Securities (the “Target Registration Date”) or (iii) upon receipt of a written request (a “Shelf Request”) from any Initial Purchaser
representing that it holds Registrable Securities that are or were ineligible to be exchanged in the Exchange Offer, the Company and the Guarantors shall use their reasonable best efforts to cause to be filed as soon as practicable after such
determination, date or Shelf Request, as the case may be, a Shelf Registration Statement providing for the sale of all the Registrable Securities by the Holders thereof and to have such Shelf Registration Statement become effective (“Shelf
Registration”). 

  
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 In the event that the Company and the Guarantors are required to file a Shelf Registration
Statement pursuant to clause (iii) of the preceding sentence, the Company and the Guarantors shall use their reasonable best efforts to file and have become effective both an Exchange Offer Registration Statement pursuant to Section 2(a)
with respect to all Registrable Securities and a Shelf Registration Statement (which may be a combined Registration Statement with the Exchange Offer Registration Statement) with respect to offers and sales of Registrable Securities held by the
Initial Purchasers after completion of the Exchange Offer. 
 The Company and the Guarantors agree to use their reasonable best
efforts to keep the Shelf Registration Statement continuously effective (i) until the expiration of the time period referred to in Rule 144(b)(i) under the Securities Act or (ii) for such shorter period that will terminate when all the
Registrable Securities covered by the Shelf Registration Statement (x) have been sold pursuant to the Shelf Registration Statement or (y) cease to be outstanding (the “Shelf Effectiveness Period”). The Company and the
Guarantors further agree to supplement or amend the Shelf Registration Statement and the related Prospectus if required by the rules, regulations or instructions applicable to the registration form used by the Company for such Shelf Registration
Statement or by the Securities Act or by any other rules and regulations thereunder or if reasonably requested by a Holder of Registrable Securities with respect to information relating to such Holder, and to use their reasonable best efforts to
cause any such amendment to become effective, if required, and such Shelf Registration Statement and Prospectus to become usable as soon as thereafter practicable. The Company and the Guarantors agree to furnish to the Holders of Registrable
Securities copies of any such supplement or amendment promptly after its being used or filed with the SEC. 
 (c) The Company and the
Guarantors shall pay all Registration Expenses in connection with any registration pursuant to Section 2(a) or Section 2(b) hereof. Each Holder shall pay all underwriting discounts and commissions, brokerage commissions and transfer taxes,
if any, relating to the sale or disposition of such Holder’s Registrable Securities pursuant to the Shelf Registration Statement. 
 (d)
An Exchange Offer Registration Statement pursuant to Section 2(a) hereof will not be deemed to have become effective unless it has been declared effective by the SEC. A Shelf Registration Statement pursuant to Section 2(b) hereof will not
be deemed to have become effective unless it has been declared effective by the SEC or is automatically effective upon filing with the SEC as provided by Rule 462 under the Securities Act. 

In the event that either the Exchange Offer is not completed or the Shelf Registration Statement, if required pursuant to Section 2(b)(i)
or 2(b)(ii) hereof, has not become effective on or prior to the Target Registration Date, the interest rate on the Registrable Securities will be increased by (i) 0.25% per annum for the first 90-day period immediately following the Target
Registration Date and (ii) an additional 0.25% per annum with respect to each subsequent 90-day period, in each case until the Exchange Offer is completed or the Shelf Registration Statement, if required hereby, becomes effective or the
Securities become freely tradable under the Securities Act, up to a maximum total increase of 0.50% per annum. In the event that the Company 

  
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receives a Shelf Request pursuant to Section 2(b)(iii), and the Shelf Registration Statement required to be filed thereby has not become effective by the later of (x) the Target
Registration Date or (y) 90 days after delivery of such Shelf Request (such later date, the “Shelf Additional Interest Date”), then the interest rate on the Registrable Securities will be increased by (i) 0.25% per
annum for the first 90-day period payable commencing from one day after the Shelf Additional Interest Date and (ii) an additional 0.25% per annum with respect to each subsequent 90-day period, in each case until the Shelf Registration
Statement becomes effective or the Securities become freely tradable under the Securities Act, up to a maximum total increase of 0.50% per annum. 

If the Shelf Registration Statement, if required hereby, has become effective and thereafter either ceases to be effective or the Prospectus
contained therein ceases to be usable, in each case whether or not permitted by this Agreement, at any time during the Shelf Effectiveness Period, and such failure to remain effective or usable exists for more than 75 days (whether or not
consecutive) in any 12-month period, then the interest rate on the Registrable Securities will be increased commencing on the 75th day in such 12-month period by (i) 0.25% per annum for
the first 90-day period immediately following such 75th day, and (ii) an additional 0.25% per annum with respect to each subsequent 90-day period, up to a maximum total increase of
0.50% per annum, and ending on such date that the Shelf Registration Statement has again become effective or the Prospectus again becomes usable. 

(e) Notwithstanding anything to the contrary contained herein, the increased interest rate described in Section 2(d) above is the sole and
exclusive remedy available to Holders due to a registration default, so long as the Company and the Guarantors are acting in good faith hereunder, including, without limitation, with respect to satisfying their obligations. 

(f) The Company represents, warrants and covenants that, unless it obtains the prior consent of counsel for the Majority Holders or the consent
of the managing underwriter(s) in connection with any Underwritten Offering of Registrable Securities, it (including its agents and representatives) will not prepare, make, use, authorize, approve or refer to any “free writing prospectus”
(as defined in Rule 405 under the Securities Act) in connection with the Securities or the Exchange Securities, other than any communication pursuant to Rule 134 under the Securities Act or any document constituting an offer to sell or solicitation
of an offer to buy the Securities or the Exchange Securities that falls within the exception from the definition of prospectus in Section 2(a)(10)(a) of the Securities Act. 

3. Registration Procedures. (a) In connection with their obligations pursuant to Section 2(a) and Section 2(b) hereof,
the Company and the Guarantors shall as soon as practicable (unless otherwise stated below): 
 (i) prepare and file with the
SEC a Registration Statement on the appropriate form under the Securities Act, which form (x) shall be selected by the Company and the Guarantors, (y) shall, in the case of a Shelf Registration, be available for the sale of the Registrable
Securities by the Holders thereof and (z) shall comply as to form in all material respects with the requirements of the applicable form and include all financial statements required by the SEC to be filed therewith; and use their reasonable
best efforts to cause such Registration Statement to become effective and remain effective for the applicable period in accordance with Section 2 hereof; 

  
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 (ii) prepare and file with the SEC such amendments and post-effective amendments
to each Registration Statement as may be necessary to keep such Registration Statement effective for the applicable period in accordance with Section 2 hereof and cause each Prospectus to be supplemented by any required prospectus supplement
and, as so supplemented, to be filed pursuant to Rule 424 under the Securities Act; and keep each Prospectus current during the period described in Section 4(3) of and Rule 174 under the Securities Act that is applicable to transactions by
brokers or dealers with respect to the Registrable Securities or Exchange Securities; 
 (iii) in the case of a Shelf
Registration, upon written request, furnish to each Holder of Registrable Securities, to counsel for the Initial Purchasers, to counsel for all such Holders and to each Underwriter of an Underwritten Offering of Registrable Securities, if any,
without charge, as many copies of each Prospectus or preliminary prospectus, and any amendment or supplement thereto, as such Holder, counsel or Underwriter may reasonably request in writing in order to facilitate the sale or other disposition of
the Registrable Securities thereunder; and the Company and the Guarantors consent to the use of such Prospectus, preliminary prospectus and any amendment or supplement thereto in accordance with applicable law by each of the Holders of Registrable
Securities and any such Underwriters in connection with the offering and sale of the Registrable Securities covered by and in the manner described in such Prospectus, preliminary prospectus or any amendment or supplement thereto in accordance with
applicable law; 
 (iv) use their reasonable best efforts to register or qualify the Registrable Securities under all
applicable state securities or blue sky laws of such jurisdictions as any Holder of Registrable Securities covered by a Registration Statement shall reasonably request in writing by the time the applicable Registration Statement becomes effective;
cooperate with such Holders in connection with any filings required to be made with the Financial Industry Regulatory Authority, Inc.; and use their reasonable best efforts to do any and all other acts and things that may be reasonably necessary or
advisable to enable each Holder to complete the disposition in each such jurisdiction of the Registrable Securities owned by such Holder; provided that neither the Company nor any Guarantor shall be required to (1) qualify as a foreign
corporation or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (2) file any general consent to service of process in any such jurisdiction, (3) subject itself to
taxation in any such jurisdiction if it is not so subject, or (4) make any changes to its incorporating or organizational documents or limited liability agreement, if applicable, or any other agreement between it and its stockholders or
members, if any; 
 (v) notify counsel for the Initial Purchasers and, in the case of a Shelf Registration, notify each
Holder of Registrable Securities and counsel for such Holders promptly and, if requested by any such Holder or counsel, confirm such advice in writing (1) when a Registration Statement has become effective, when any post-effective amendment
thereto has been filed and becomes effective and when any amendment or 

  
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supplement to the Prospectus has been filed, (2) of any request by the SEC or any state securities authority for amendments and supplements to a Registration Statement or Prospectus or for
additional information after the Registration Statement has become effective, (3) of the issuance by the SEC or any state securities authority of any stop order suspending the effectiveness of a Registration Statement or the initiation of any
proceedings for that purpose, including the receipt by the Company of any notice of objection of the SEC to the use of a Shelf Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act,
(4) if, between the applicable effective date of a Shelf Registration Statement and the closing of any sale of Registrable Securities covered thereby, the representations and warranties of the Company or any Guarantor contained in any
underwriting agreement, securities sales agreement or other similar agreement, if any, relating to an offering of such Registrable Securities cease to be true and correct in all material respects or if the Company or any Guarantor receives any
notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose, (5) of the happening of any event during the period a Shelf
Registration Statement is effective that makes any statement made in such Shelf Registration Statement or the related Prospectus untrue in any material respect or that requires the making of any changes in such Shelf Registration Statement or
Prospectus in order to make the statements therein, with respect to a Prospectus, in the light of the circumstances under which such statements were made, not misleading, and (6) of any determination by the Company or any Guarantor that a
post-effective amendment to a Registration Statement or any amendment or supplement to the Prospectus would be appropriate; 

(vi) use their reasonable best efforts to obtain the withdrawal of any order suspending the effectiveness of a Registration
Statement or, in the case of a Shelf Registration, the resolution of any objection of the SEC pursuant to Rule 401(g)(2), including by promptly filing an amendment to such Shelf Registration Statement on the proper form, and provide notice promptly
to each Holder of the withdrawal of any such order or such resolution; 
 (vii) in the case of a Shelf Registration, furnish
to each Holder of Registrable Securities, without charge, at least one conformed copy of each Registration Statement and any post-effective amendment thereto (without any documents incorporated therein by reference or exhibits thereto, unless
requested); 
 (viii) in the case of a Shelf Registration, cooperate with the Holders of Registrable Securities to facilitate
the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends and enable such Registrable Securities to be issued in such denominations and registered in such names
(consistent with the provisions of the Indenture) as such Holders may reasonably request at least three Business Days prior to the closing of any sale of Registrable Securities made by such Holders; 

(ix) in the case of a Shelf Registration, upon the occurrence of any event contemplated by Section 3(a)(v)(5) hereof, use
their reasonable best efforts to prepare 

  
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and file with the SEC a supplement or post-effective amendment to such Shelf Registration Statement or the related Prospectus or any document incorporated therein by reference or file any other
required document so that, as thereafter delivered (or, to the extent permitted by law, made available) to purchasers of the Registrable Securities, such Prospectus will not contain any untrue statement of a material fact or omit to state a material
fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and the Company shall notify the Holders of Registrable Securities to suspend use of the Prospectus as promptly as
practicable after the occurrence of such an event, and such Holders hereby agree to suspend use of the Prospectus until the Company and the Guarantors have amended or supplemented the Prospectus to correct such misstatement or omission; 

(x) a reasonable time prior to the filing of any Registration Statement, any Prospectus, any amendment to a Registration
Statement or amendment or supplement to a Prospectus (other than any document that is to be incorporated by reference into a Registration Statement or a Prospectus after initial filing of a Registration Statement and doesn’t name the Holders of
Registrable Securities in their capacity as such), provide copies of such document to the Initial Purchasers and their counsel (if the Initial Purchasers holds any Registrable Securities) (and, in the case of a Shelf Registration Statement, to the
Holders of Registrable Securities and their counsel) and make such of the representatives of the Company and the Guarantors as shall be reasonably requested by the Initial Purchasers or their counsel (if the Initial Purchasers holds any Registrable
Securities) (and, in the case of a Shelf Registration Statement, the Holders of Registrable Securities or their counsel) available for discussion of such document; and the Company and the Guarantors shall not, at any time after initial filing of a
Registration Statement, use or file any Prospectus, any amendment of or supplement to a Registration Statement or a Prospectus (other than any document that is to be incorporated by reference into a Registration Statement or a Prospectus and
doesn’t name the Holders of Registrable Securities in their capacity as such), of which the Initial Purchasers and their counsel (if the Initial Purchasers holds any Registrable Securities) (and, in the case of a Shelf Registration Statement,
the Holders of Registrable Securities and their counsel) shall not have previously been advised and furnished a copy or to which the Initial Purchasers or their counsel (if the Initial Purchasers hold any Registrable Securities) (and, in the case of
a Shelf Registration Statement, the Holders of Registrable Securities or their counsel) shall reasonably object within five Business Days after receipt thereof, unless the Company believes such Prospectus, amendment or supplement to a Prospectus is
required by applicable law; 
 (xi) obtain a CUSIP number for all Exchange Securities or Registrable Securities, as the case
may be, not later than the initial effective date of a Registration Statement covering such Exchange Securities or Registrable Securities; 

(xii) cause the Indenture to be qualified under the Trust Indenture Act in connection with the registration of the Exchange
Securities or Registrable Securities, as the case may be; cooperate with the Trustee and the Holders to effect such changes to the Indenture as may be required for the Indenture to be so qualified in accordance with the terms of the Trust Indenture
Act; and execute, and use their reasonable best efforts to 

  
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cause the Trustee to execute, all documents as may be required to effect such changes and all other forms and documents required to be filed with the SEC to enable the Indenture to be so
qualified in a timely manner; 
 (xiii) in the case of a Shelf Registration, make available for inspection by a
representative of the Holders of a majority of the outstanding aggregate principal amount of the Registrable Securities to be included in such Shelf Registration (an “Inspector”), any Underwriter participating in any disposition
pursuant to such Shelf Registration Statement, any attorneys and one firm of accountants designated by such Holders and any attorneys (but not more than one counsel acting for all such Holders) and accountants designated by such Underwriter, at
reasonable times and in a reasonable manner, all pertinent financial and other records, documents and properties of the Company, the Guarantors and their subsidiaries, and cause the respective officers, directors and employees of the Company and the
Guarantors to supply all information reasonably requested by any such Inspector, Underwriter, attorney or accountant to conduct reasonable investigation within the meaning of Section 11 of the Securities Act in connection with a Shelf
Registration Statement; provided that the foregoing investigation and information gathering shall be coordinated on behalf of such parties by one counsel designated by and on behalf of such parties; and provided further that if any
such information is identified by the Company or any Guarantor as being confidential or proprietary, each Person receiving such information shall take such actions as are reasonably necessary to protect the confidentiality of such information to the
extent such action is otherwise not inconsistent with, an impairment of or in derogation of the rights and interests of any Inspector, Holder or Underwriter); 

(xiv) in the case of a Shelf Registration, use their reasonable best efforts to cause all Registrable Securities to be listed
on any securities exchange or any automated quotation system on which similar securities issued or guaranteed by the Company or any Guarantor are then listed if requested by the Majority Holders, to the extent such Registrable Securities satisfy
applicable listing requirements; 
 (xv) if reasonably requested by any Holder of Registrable Securities covered by a Shelf
Registration Statement, promptly include in a Prospectus supplement or post-effective amendment such information with respect to such Holder as such Holder reasonably requests to be included therein and make all required filings of such Prospectus
supplement or such post-effective amendment promptly after the Company has received notification of the matters to be so included in such filing; 

(xvi) in the case of a Shelf Registration, enter into such customary agreements, including, but not limited to, an underwriting
agreement which contains indemnities substantially similar to those contained in the Purchase Agreement, and use its reasonable best efforts to take all such other actions in connection therewith (including those requested by the Holders of a
majority in principal amount of the Registrable Securities covered by the Shelf Registration Statement) in order to expedite or facilitate the disposition of such Registrable Securities including, but not limited to, an Underwritten Offering and in
such connection, (1) to the extent possible, make such representations and warranties to the Holders and any Underwriters of such Registrable Securities with 

  
 12 

 
respect to the business of the Company, the Guarantors and their subsidiaries and the Registration Statement, Prospectus and documents incorporated by reference or deemed incorporated by
reference, if any, in each case, in form, substance and scope as are customarily made by issuers and guarantors to underwriters in Underwritten Offerings and confirm the same if and when required by the applicable underwriting agreement,
(2) obtain opinions of counsel to the Company and the Guarantors (which counsel and opinions, in form, scope and substance, shall be reasonably satisfactory to such Underwriters and their counsel) addressed to each Underwriter of Registrable
Securities, in customary form subject to customary limitations, assumptions and exclusions and covering the matters customarily covered in opinions requested in Underwritten Offerings, (3) obtain “comfort” letters from the independent
certified public accountants of the Company and the Guarantors (and, if necessary, any other certified public accountant of any subsidiary of the Company or any Guarantor, or of any business acquired by the Company or any Guarantor for which
financial statements and financial data are or are required to be included in the Registration Statement) addressed to each selling Holder (to the extent permitted by applicable professional standards) and Underwriter of Registrable Securities, such
letters to be in customary form and covering matters of the type customarily covered in “comfort” letters in connection with Underwritten Offerings, including but not limited to financial information contained in any preliminary prospectus
or Prospectus and (4) deliver such documents and certificates as may be reasonably requested by the Holders of a majority in principal amount of the Registrable Securities being sold or the Underwriters, and which are customarily delivered in
Underwritten Offerings, to evidence the continued validity of the representations and warranties of the Company and the Guarantors made pursuant to clause (1) above and to evidence compliance with any customary conditions contained in the
applicable underwriting agreement; and 
 (xvii) so long as any Registrable Securities remain outstanding, cause each
Additional Guarantor upon the creation or acquisition by the Company of such Additional Guarantor, to execute a counterpart to this Agreement in the form attached hereto as Annex A and to deliver such counterpart to the Initial Purchasers no later
than five Business Days following the execution thereof. 
 (b) In the case of a Shelf Registration Statement, the Company may require each
Holder of Registrable Securities to furnish to the Company such information regarding such Holder and the proposed disposition by such Holder of such Registrable Securities as the Company and the Guarantors may from time to time reasonably request
in writing. The Company and the Guarantors shall be entitled to refuse to include for registration the Registrable Securities held by any Holder who fails to comply with such request and provide the requested information after being given 15
Business Days notice of such request to the extent such information is required by applicable law to be included in the Shelf Registration Statement, and such Holder shall not be entitled to additional interest pursuant to Section 2(d) above.

 (c) In the case of a Shelf Registration Statement, each Holder of Registrable Securities covered in such Shelf Registration Statement
agrees that, upon receipt of any notice from the Company and the Guarantors of the happening of any event of the kind described in Section 3(a)(v)(3), (5), or (6) hereof, such Holder will forthwith discontinue disposition of

  
 13 

 
Registrable Securities pursuant to the Shelf Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 3(a)(ix)
hereof, or until it is advised in writing by the Company that the use of the Prospectus may be resumed, and, if so directed by the Company and the Guarantors, such Holder will deliver to the Company and the Guarantors all copies in its possession,
other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Registrable Securities that is current at the time of receipt of such notice. 

(d) If the Company and the Guarantors shall give any notice pursuant to Section 3(c) hereof to suspend the disposition of Registrable
Securities pursuant to a Shelf Registration Statement, the Company and the Guarantors shall extend the period during which such Shelf Registration Statement shall be maintained effective pursuant to this Agreement by the number of days equal to the
number of days in the period from and including the date of the giving of such notice to and including the date when the Holders of such Registrable Securities shall have received copies of the supplemented or amended Prospectus necessary to resume
such dispositions. The Company and the Guarantors may give any such notice pursuant to Section 3(c) only twice during any 365-day period and any such suspensions shall not exceed 75 days in any 365-day period and there shall not be more than
two suspensions in effect during any 365-day period. 
 (e) In the case of an Underwritten Offering, the investment bank or investment banks
and manager or managers (each an “Underwriter”) that will administer the offering will be selected by the Holders of a majority of the outstanding aggregate principal amount of the Registrable Securities included in such offering,
subject to the Company’s consent, which consent shall not be unreasonably withheld. Such Holders shall be responsible for all underwriting commissions and discounts in connection therewith. No Holder of Registrable Securities may participate in
any Underwritten Offering unless such Holder (i) agrees to sell such Holder’s Registrable Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and
(ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements, provided that the Holders are given 15 Business Days notice
of such requests. 
 (f) Notwithstanding anything contained herein, the Holders may only sell their Registrable Securities in an Underwritten
Offering with the Company’s consent, which may be granted or withheld in the Company’s sole discretion. 
 4. Participation of
Broker-Dealers in Exchange Offer. (a) The Staff has taken the position that any broker-dealer that receives Exchange Securities for its own account in the Exchange Offer in exchange for Securities that were acquired by such broker-dealer as
a result of market-making or other trading activities (a “Participating Broker-Dealer”) may be deemed to be an “underwriter” within the meaning of the Securities Act and must deliver a prospectus meeting the requirements
of the Securities Act in connection with any resale of such Exchange Securities. 
 The Company and the Guarantors understand that it is the
Staff’s position that if the Prospectus contained in the Exchange Offer Registration Statement includes a plan of 

  
 14 

 
distribution containing a statement to the above effect and the means by which Participating Broker-Dealers may resell the Exchange Securities, without naming the Participating Broker-Dealers or
specifying the amount of Exchange Securities owned by them, such Prospectus may be delivered by Participating Broker-Dealers (or, to the extent permitted by law, made available to purchasers) to satisfy their prospectus delivery obligation under the
Securities Act in connection with resales of Exchange Securities for their own accounts, so long as the Prospectus otherwise meets the requirements of the Securities Act. 

(b) In light of the above, and notwithstanding the other provisions of this Agreement, the Company and the Guarantors agree to use their
reasonable best efforts to amend or supplement the Prospectus contained in the Exchange Offer Registration Statement for a period of up to 180 days after the last Exchange Date (as such period may be extended pursuant to Section 3(d) of this
Agreement (in the case of a Shelf Registration Statement that is combined with an Exchange Offer Registration Statement)), if requested by the Initial Purchasers or by one or more Participating Broker-Dealers, in order to expedite or facilitate the
disposition of any Exchange Securities by Participating Broker-Dealers consistent with the positions of the Staff recited in Section 4(a) above. The Company and the Guarantors further agree that Participating Broker-Dealers shall be authorized
to deliver such Prospectus (or, to the extent permitted by law, make available) during such period in connection with the resales contemplated by this Section 4. The Participating Broker-Dealers shall not be authorized by the Company to deliver
and shall not deliver such Prospectus after such period in connection with the resales contemplated by this Section 4. 
 (c) The
Initial Purchasers shall have no liability to the Company, any Guarantor or any Holder with respect to any request that they may make pursuant to Section 4(b) above. 

5. Indemnification and Contribution. (a) The Company and each Guarantor, jointly and severally, agree to indemnify and hold
harmless (i) each Initial Purchaser and each Holder, their respective affiliates, directors and officers and each Person, if any, who controls any Initial Purchaser or any Holder within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted,
as such fees and expenses are incurred), joint or several, that arise out of, or are based upon, (1) any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or any omission or alleged omission
to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading, or (2) any untrue statement or alleged untrue statement of a material fact contained in any Prospectus, any Free
Writing Prospectus used in violation of this Agreement or any “issuer information” (“Issuer Information”) filed or required to be filed pursuant to Rule 433(d) under the Securities Act, or any omission or alleged omission
to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out
of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Initial Purchaser or information relating to any Holder furnished to the
Company in writing through the Representative or any selling Holder respectively expressly for use therein. In connection with any Underwritten Offering permitted by Section 3, the Company and 

  
 15 

 
the Guarantors, jointly and severally, will also indemnify the Underwriters, if any, selling brokers, dealers and similar securities industry professionals participating in the distribution,
their respective affiliates and each Person who controls such Persons (within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above with respect to the indemnification of the Holders, if requested in connection
with any Registration Statement, any Prospectus, any Free Writing Prospectus or any Issuer Information.) 
 (b) Each Holder agrees, severally
and not jointly, to indemnify and hold harmless the Company, the Guarantors, the Initial Purchasers and the other selling Holders, the directors of the Company and the Guarantors, each officer of the Company and the Guarantors who signed the
Registration Statement and each Person, if any, who controls the Company, the Guarantors, any Initial Purchaser and any other selling Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the
same extent as the indemnity set forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission
made in reliance upon and in conformity with any information relating to such Holder furnished to the Company in writing by or on behalf of such Holder expressly for use in any Registration Statement and any Prospectus. 

(c) If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted
against any Person in respect of which indemnification may be sought pursuant to either paragraph (a) or (b) above, such Person (the “Indemnified Person”) shall promptly notify the Person against whom such indemnification
may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have under paragraph (a) or (b) above except to
the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall not relieve it from any
liability that it may have to an Indemnified Person otherwise than under paragraph (a) or (b) above. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the Indemnifying Person
thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the Indemnified Person and any
others entitled to indemnification pursuant to this Section 5 that the Indemnifying Person may designate in such proceeding and shall pay the fees and expenses of such proceeding and shall pay the fees and expenses of such counsel related to
such proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the
Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the
Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the Indemnifying Person; or (iv) the named parties in any such proceeding
(including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is
understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the 

  
 16 

 
same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be
reimbursed as they are incurred. Any such separate firm (x) for any Initial Purchaser, its affiliates, directors and officers and any control Persons of such Initial Purchaser shall be designated in writing by the Representative, (y) for
any Holder, its directors and officers and any control Persons of such Holder shall be designated in writing by the Majority Holders and (z) in all other cases shall be designated in writing by the Company. The Indemnifying Person shall not be
liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and
against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested that an Indemnifying Person reimburse the Indemnified Person for fees and
expenses of counsel as contemplated by this paragraph, the Indemnifying Person shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by
the Indemnifying Person of such request; (ii) the Indemnifying Person shall not have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement and (iii) the Indemnified Person shall have given
at least 30 days prior written notice of its intention to settle. No Indemnifying Person shall, without the written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified
Person is or could have been a party and indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (A) includes an unconditional release of such Indemnified Person, in form and substance reasonably
satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any
Indemnified Person. 
 (d) If the indemnification provided for in paragraphs (a) and (b) above is unavailable to or insufficient to
hold harmless an Indemnified Person in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the
amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Guarantors from the offering
of the Securities and the Exchange Securities, on the one hand, and by the Holders from receiving Securities or Exchange Securities registered under the Securities Act, on the other hand, or (ii) if the allocation provided by clause (i) is
not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also the relative fault of the Company and the Guarantors on the one hand and the Holders on the other
in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Guarantors on the one hand and the Holders
on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company and
the Guarantors on the one hand or by the Holders on the other and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

  
 17 

 (e) The Company, the Guarantors and the Holders agree that it would not be just and equitable if
contribution pursuant to this Section 5 were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations
referred to in paragraph (d) above. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include, subject to the limitations
set forth above, any legal or other expenses reasonably incurred by such Indemnified Person in connection with investigating, preparing to defend, or defending any such action or claim. Notwithstanding the provisions of this Section 5, in no
event shall a Holder be required to contribute any amount in excess of the amount by which the total price at which the Securities or Exchange Securities sold by such Holder exceeds the amount of any damages that such Holder has otherwise been
required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 5 are several in proportion to the respective principal amount of the Registrable Securities held by
each Holder and not joint. 
 (f) The remedies provided for in this Section 5 are not exclusive and shall not limit any rights or
remedies that may otherwise be available to any Indemnified Person at law or in equity. 
 (g) The indemnity and contribution provisions
contained in this Section 5 shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of the Initial Purchasers or any Holder or any Person
controlling any Initial Purchaser or any Holder, or by or on behalf of the Company or the Guarantors or the officers or directors of or any Person controlling the Company or the Guarantors, (iii) acceptance of any of the Exchange Securities and
(iv) any sale of Registrable Securities pursuant to a Shelf Registration Statement . 
 6. General. (a) No
Inconsistent Agreements. The Company and the Guarantors represent, warrant and agree that (i) the rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of any
other outstanding securities issued or guaranteed by the Company or any Guarantor under any other agreement and (ii) neither the Company nor any Guarantor has entered into, or on or after the date of this Agreement will enter into, any
agreement that is inconsistent with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof. 

(b) Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended,
modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given unless the Company and the Guarantors have obtained the written consent of Holders of at least a majority in aggregate principal amount of
the outstanding Registrable Securities affected by such amendment, modification, supplement, waiver or consent; provided that no amendment, modification, supplement, waiver or consent to any departure from the provisions of Section 5
hereof shall be effective as against any Holder of Registrable Securities unless consented to in writing by such Holder. Any amendments, modifications, supplements, waivers or consents pursuant to this Section 6(b) shall be by a writing
executed by each of the parties hereto. 

  
 18 

 (c) Notices. All notices and other communications provided for or permitted
hereunder shall be made in writing by hand-delivery, registered first-class mail, telex, telecopier, or any courier guaranteeing overnight delivery (i) if to a Holder, at the most current address given by such Holder to the Company by means of
a notice given in accordance with the provisions of this Section 6(c), which address initially is, with respect to the Initial Purchasers, the address set forth in the Purchase Agreement; (ii) if to the Company and the Guarantors,
initially at the Company’s address set forth in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(c); and (iii) to such other persons at their
respective addresses as provided in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(c). All such notices and communications shall be deemed to have been
duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt is acknowledged, if telecopied; and on the next
Business Day if timely delivered to an air courier guaranteeing overnight delivery. Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee, at the address specified in
the Indenture. 
 (d) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the
successors, assigns and transferees of each of the parties, including, without limitation and without the need for an express assignment, subsequent Holders; provided that nothing herein shall be deemed to permit any assignment, transfer or
other disposition of Registrable Securities in violation of the terms of the Purchase Agreement or the Indenture. If any transferee of any Holder shall acquire Registrable Securities in any manner, whether by operation of law or otherwise, such
Registrable Securities shall be held subject to all the terms of this Agreement, and by taking and holding such Registrable Securities such Person shall be conclusively deemed to have agreed to be bound by and to perform all of the terms and
provisions of this Agreement and such Person shall be entitled to receive the benefits hereof. The Initial Purchasers (in their capacity as Initial Purchasers) shall have no liability or obligation to the Company or the Guarantors with respect to
any failure by a Holder to comply with, or any breach by any Holder of, any of the obligations of such Holder under this Agreement. 

(e) Third Party Beneficiaries. Each Holder shall be a third party beneficiary to the agreements made hereunder between the
Company and the Guarantors, on the one hand, and the Initial Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights or the
rights of other Holders hereunder. 
 (f) Counterparts. This Agreement may be executed in any number of counterparts and
by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

  
 19 

 (g) Headings. The headings in this Agreement are for convenience of reference only, are
not a part of this Agreement and shall not limit or otherwise affect the meaning hereof. 
 (h) Governing Law. This Agreement shall be
governed by and construed in accordance with the laws of the State of New York. 
 (i) Entire Agreement; Severability. This Agreement
contains the entire agreement between the parties relating to the subject matter hereof and supersedes all oral statements and prior writings with respect thereto. If any term, provision, covenant or restriction contained in this Agreement is held
by a court of competent jurisdiction to be invalid, void or unenforceable or against public policy, the remainder of the terms, provisions, covenants and restrictions contained herein shall remain in full force and effect and shall in no way be
affected, impaired or invalidated. The Company, the Guarantors and the Initial Purchasers shall endeavor in good faith negotiations to replace the invalid, void or unenforceable provisions with valid provisions the economic effect of which comes as
close as possible to that of the invalid, void or unenforceable provisions. 

  
 20 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

  

					
	AVIS BUDGET CAR RENTAL, LLC
			
	By	 	/s/	 	Rochelle Tarlowe
		 	Name:	 	Rochelle Tarlowe
		 	Title:	 	Vice President and Treasurer
	
	AVIS BUDGET FINANCE, INC.
			
	By	 	/s/	 	Rochelle Tarlowe
		 	Name:	 	Rochelle Tarlowe
		 	Title:	 	Vice President and Treasurer
	
	AVIS BUDGET GROUP, INC.
			
	By	 	/s/	 	Rochelle Tarlowe
		 	Name:	 	Rochelle Tarlowe
		 	Title:	 	Vice President and Treasurer
	
	AVIS BUDGET HOLDINGS, LLC
			
	By	 	/s/	 	Rochelle Tarlowe
		 	Name:	 	Rochelle Tarlowe
		 	Title:	 	Vice President and Treasurer

 [Signature Page 1 of 3 to Registration Rights Agreement] 

 
					
	 AB CAR RENTAL SERVICES, INC.
 ARACS
LLC
 AVIS ASIA AND PACIFIC, LLC
 AVIS CAR RENTAL GROUP, LLC

AVIS CARIBBEAN, LIMITED
 AVIS ENTERPRISES, INC.

AVIS GROUP HOLDINGS, LLC
 AVIS INTERNATIONAL, LTD.

AVIS OPERATIONS, LLC
 AVIS RENT A CAR SYSTEM, LLC

PF CLAIMS MANAGEMENT, LTD.
 PR HOLDCO, INC.

WIZARD CO., INC.

		
	By    	  	/s/ Rochelle Tarlowe
		  	Name:	 	Rochelle Tarlowe
		  	Title:	 	Vice President and Treasurer
	
	 BGI LEASING, INC.
 BUDGET RENT A CAR
SYSTEM, INC.
 BUDGET RENT A CAR LICENSOR, LLC
 BUDGET TRUCK
RENTAL LLC
 RUNABOUT, LLC
 WIZARD SERVICES, INC.

ZIPCAR, INC.

		
	By	  	/s/ David B. Wyshner
		  	Name:	 	David B. Wyshner
		  	Title:	 	Senior Executive Vice President, Chief Financial Officer and Treasurer

 [Signature Page 2 of 3 to Registration Rights Agreement] 

  
 22 

					
	 Confirmed and accepted as of the date first above written:

 
 CREDIT AGRICOLE SECURITIES (USA) INC.

 
 For itself and on behalf of the

several Initial Purchasers

		
	By	 	/s/ Paul Brown
		 	Name: Paul Brown
		 	Title: Managing Director

 [Signature Page 3 of 3 to Registration Rights Agreement] 

 Annex A 

Counterpart to Registration Rights Agreement 

The undersigned hereby absolutely, unconditionally and irrevocably agrees as a Guarantor (as defined in the Registration Rights Agreement,
dated as of November 14, 2014 by and among the Company, a Delaware limited liability company, the guarantors party thereto and Credit Agricole Securities (USA) Inc., on behalf of itself and the other Initial Purchasers) to be bound by the terms
and provisions of such Registration Rights Agreement. 
 IN WITNESS WHEREOF, the undersigned has executed this counterpart as of
                    . 
  

			
	[NAME]
		
	By:	 	 
		 	Name:
		 	Title:

 Schedule 1 

AB Car Rental Services, Inc. 
 ARACS LLC 

Avis Asia and Pacific, LLC 
 Avis Budget Group, Inc. 

Avis Budget Holdings, LLC 
 Avis Car Rental Group, LLC 

Avis Caribbean, Limited 
 Avis Enterprises, Inc. 

Avis Group Holdings, LLC 
 Avis International, Ltd. 

Avis Operations, LLC 
 Avis Rent A Car System, LLC 

BGI Leasing, Inc. 
 Budget Rent A Car System, Inc. 

Budget Rent A Car Licensor, LLC 
 Budget Truck Rental LLC 

PF Claims Management, Ltd. 
 PR Holdco, Inc. 

Runabout, LLC 
 Wizard Co., Inc. 

Wizard Services, Inc. 
 Zipcar, Inc. 

  
 1 

 Schedule 2 

Credit Agricole Securities (USA) Inc. 
 Deutsche Bank Securities
Inc. 
 J.P. Morgan Securities LLC 
 Scotia Capital (USA) Inc.

  
 6EX-10.84

 Exhibit 10.84 

AVISCAR INC. 
 – and
– 
 BUDGETCAR INC. 

– and – 
 ZIPCAR
CANADA INC. 
 – and – 

PAYLESS CAR RENTAL CANADA INC. 

– and – 
 WTH
CAR RENTAL ULC 
 as Rental ULC 

– and – 
 WTH
FUNDING LIMITED PARTNERSHIP 
 as Funding LP 

– and – 
 BNY
TRUST COMPANY OF CANADA 
 as Indenture Trustee 

– and – 
 BAY
STREET FUNDING TRUST 
 as a Series 2013-1 Note Purchaser 

– and – 

CANADIAN MASTER TRUST 
 as
a Series 2013-1 Note Purchaser 
 – and – 

PLAZA TRUST 
 as a Series
2013-1 Note Purchaser 
 – and – 

AVIS BUDGET CAR RENTAL, LLC 

as Parent 
 AVIS BUDGET
SECURITIZATION 
 SIXTH GLOBAL AMENDMENT 

December 5, 2014 

 SIXTH GLOBAL AMENDMENT 

THIS SIXTH GLOBAL AMENDMENT is made as of December 5, 2014. 

 

			
	 AMONG:
	  	
		
		  	AVISCAR INC.
		
		  	– and –
		
		  	BUDGETCAR INC.
		
		  	– and –
		
		  	 ZIPCAR CANADA INC.

(“Zipcar”)

		
		  	– and –
		
		  	 PAYLESS CAR RENTAL CANADA INC.

(“Payless”)

		
		  	– and –
		
		  	WTH FUNDING LIMITED PARTNERSHIP, a limited partnership formed under the laws of the Province of Ontario (“Funding LP”)
		
		  	– and –
		
		  	 WTH CAR RENTAL ULC, an unlimited liability company formed under the laws of the Province of Alberta

(“Rental ULC”)

		
		  	– and –
		
		  	 BNY TRUST COMPANY OF CANADA, a trust company incorporated under the laws of Canada, in its capacity as Indenture Trustee under the
Indenture 
 (the “Indenture Trustee”)

		
		  	– and –
		
		  	 MONTREAL TRUST COMPANY OF CANADA, a trust company incorporated under the laws of Canada, in its capacity as trustee of BAY
STREET FUNDING TRUST, a trust established under the laws of the Province of Ontario, in its capacity as a Noteholder 
 (“Bay
Street”)

			
		
		  	– and –
		
		  	 BNY TRUST COMPANY OF CANADA, a trust company incorporated under the laws of Canada, in its capacity as trustee of CANADIAN
MASTER TRUST, a trust established under the laws of the Province of Ontario, in its capacity as a Noteholder 
 (“Master
Trust”)

		
		  	– and –
		
		  	CIBC MELLON TRUST COMPANY, a trust company incorporated under the laws of Canada, in its capacity as trustee of PLAZA TRUST, a trust established under the laws of the Province of Ontario, in its capacity as a
Noteholder 
		
		  	(“Plaza Trust” and, together with Bay Street and Master Trust, the “Series 2013-1 Noteholders” and each a “Series 2013-1 Noteholder”) 
		
		  	– and –
		
		  	 AVIS BUDGET CAR RENTAL, LLC
 (the
“Parent”)

 WHEREAS Rental ULC and the Indenture Trustee are parties to a Trust Indenture dated as of
August 26, 2010 and amended and restated as of May 12, 2014 (the “Indenture”); 
 WHEREAS Rental ULC,
Funding LP, as administrator, and the Indenture Trustee are parties to a Supplement to the Indenture in respect of Series 2011-1 dated as of March 17, 2011 and amended and restated as of May 12, 2014 (the “Series 2011-1 Indenture
Supplement”); 
 WHEREAS Rental ULC, Funding LP, as administrator, and the Indenture Trustee are parties to a Supplement to
the Indenture in respect of Series 2012-1 dated as of December 11, 2012 and amended and restated as of May 12, 2014 (the “Series 2012-1 Indenture Supplement”); 

WHEREAS Rental ULC, Funding LP, as administrator, and the Indenture Trustee are parties to a Supplement to the Indenture in respect of
Series 2013-1 dated as of December 6, 2013 and amended and restated as of May 12, 2014 (the “Series 2013-1 Indenture Supplement”); 

WHEREAS Rental ULC, Aviscar Inc., Budgetcar Inc., Zipcar, Funding LP and Bay Street are parties to a Note Purchase Agreement dated as
of December 6, 2013 (the “Bay Street 2013-1 Note Purchase Agreement”); 

  
 -2- 

 WHEREAS Rental ULC, Aviscar Inc., Budgetcar Inc., Zipcar, Funding LP and Master Trust are
parties to a Note Purchase Agreement dated as of December 6, 2013 (the “Master Trust 2013-1 Note Purchase Agreement”); 

WHEREAS Rental ULC, Aviscar Inc., Budgetcar Inc., Zipcar, Funding LP and Plaza Trust are parties to a Note Purchase Agreement dated as
of December 6, 2013 (the “Plaza Trust 2013-1 Note Purchase Agreement” and, together with the Bay Street 2013-1 Note Purchase Agreement and the Master Trust 2013-1 Note Purchase Agreement, the “Series 2013-1 Note
Purchase Agreements”); 
 WHEREAS Rental ULC, Funding LP, as administrator, and the Indenture Trustee are parties to a
Supplement to the Indenture in respect of Series 2014-1 dated as of June 5, 2014 (the “Series 2014-1 Indenture Supplement”); 

WHEREAS Rental ULC, the Administrator and the Indenture Trustee are parties to an Administration Agreement dated as of August 26,
2010 and amended and restated as of May 12, 2014 (the “Administration Agreement”); 
 WHEREAS Rental ULC,
Funding LP and the Indenture Trustee are parties to a Master Motor Vehicle Lease Agreement dated as of August 26, 2010 and amended and restated as of May 12, 2014 (the “Master Lease Agreement”); 

WHEREAS Funding LP and the Indenture Trustee are parties to a security agreement dated as of August 26, 2010 (the “Funding
LP Security Agreement”); 
 WHEREAS the Parent provided a guarantee to the Indenture Trustee as of March 17, 2011 in
respect of the Series 2011-1 Indenture Supplement (the “Series 2011-1 Parent Guarantee”); 
 WHEREAS the Parent
provided a guarantee to the Indenture Trustee as of December 11, 2012 in respect of the Series 2012-1 Indenture Supplement (the “Series 2012-1 Parent Guarantee”); 

WHEREAS the Parent provided a guarantee to the Indenture Trustee as of December 6, 2013 in respect of the Series 2013-1 Indenture
Supplement (the “Series 2013-1 Parent Guarantee”); 
 WHEREAS the Parent provided a guarantee to the Indenture
Trustee as of June 5, 2014 in respect of the Series 2014-1 Indenture Supplement (the “Series 2014-1 Parent Guarantee” and, together with the Series 2011-1 Parent Guarantee, the Series 2012-1 Parent Guarantee and the Series
2013-1 Parent Guarantee, the “Parent Guarantees”); 
 WHEREAS certain of the parties hereto made certain amendments
to certain Transaction Documents pursuant to a Global Amendment made as of February 17, 2011; 
 WHEREAS certain of the parties
hereto made certain amendments to certain Transaction Documents pursuant to a Second Global Amendment made as of August 22, 2011; 

WHEREAS certain of the parties hereto made certain amendments to certain Transaction Documents pursuant to a Third Global Amendment
made as of November 27, 2012; 

  
 -3- 

 WHEREAS certain of the parties hereto made certain amendments to certain Transaction
Documents pursuant to a Fourth Global Amendment made as of August 21, 2013; 
 WHEREAS certain of the parties hereto made
certain amendments to certain Transaction Documents pursuant to a Fifth Global Amendment made as of February 27, 2014; 

WHEREAS the Fifth Global Amendment was terminated as of May 12, 2014; 

WHEREAS the parties hereto wish to make certain additional amendments to the Indenture, the Series 2011-1 Indenture Supplement, the
Series 2012-1 Indenture Supplement, the Series 2013-1 Indenture Supplement, the Series 2014-1 Indenture Supplement, the Administration Agreement, the Series 2013-1 Note Purchase Agreements, the Parent Guarantees, the Master Lease Agreement and the
Funding LP Security Agreement in accordance with Sections 13.1(a)(i), 13.1(b) and 13.2 of the Indenture and Section 5.6(e) of the Series 2013-1 Indenture Supplement; 

WHEREAS the applicable Rating Agencies have been provided with prior written notice of the amendments herein provided in accordance
with Sections 13.1(a)(i), 13.1(b) and 13.2 of the Indenture and Section 5.6(e) of the Series 2013-1 Indenture Supplement; and 

WHEREAS the Parent joins as a party hereto for the purpose of amending the Parent Guarantees and for the purpose of providing its
consent, confirmation and acknowledgement under Section 2.6 of this Agreement. 
 NOW THEREFORE in consideration of the
foregoing and of the mutual covenants and agreements contained in this Amendment and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties hereto hereby agree as follows: 

ARTICLE 1 

INTERPRETATION 
 1.1 Definitions

 Terms used herein which are defined in the Indenture, either directly or by reference therein, have the meanings assigned to them in
the Indenture unless otherwise defined herein. In this Amendment: 
 “Amendment” means this Sixth Global Amendment; and 

“Supplements” means the Series 2011-1 Indenture Supplement, the Series 2012-1 Indenture Supplement, the Series 2013-1 Indenture Supplement
and the Series 2014-1 Indenture Supplement. 
 1.2 Headings 

The inclusion of headings in this Amendment is for convenience of reference only and shall not affect the construction or interpretation
hereof. 

  
 -4- 

 1.3 References to Articles and Sections 

Whenever in this Amendment a particular Article, section or other portion thereof is referred to, unless otherwise indicated, such reference
pertains to the particular Article, section or portion thereof contained herein. 
 1.4 Governing Law 

This Amendment is governed by and shall be construed in accordance with the laws of the Province of Ontario and the laws of Canada applicable
therein. Each party hereto irrevocably submits to the jurisdiction of the courts of competent jurisdiction in the Province of Ontario in respect of any action or proceeding relating in any way to this Amendment. The parties hereto shall not raise
any objection to the venue of any proceedings in any such court, including the objection that the proceedings have been brought in an inconvenient forum. 

ARTICLE 2 
 AMENDMENTS

 2.1 Amendments to the Supplements 

The Supplements are hereby amended as set forth in this Section 2.1: 

 

	 	(a)	The definition of “Avis or Budget System Member” in Section 1.1 of each of the Series 2011-1 Indenture Supplement, the Series 2012-1 Indenture Supplement and the Series 2014-1 Indenture Supplement is
hereby removed and replaced with the following: 

 “Avis or Budget System Member” means a licensee of Avis,
Budget, Payless or Zipcar or any Affiliate of Avis, Budget, Payless or Zipcar. 
  

	 	(b)	The definition of “Avis or Budget System Member” in Section 1.1 of the Series 2013-1 Indenture Supplement is hereby removed and replaced with the following: 

“Avis or Budget System Member” means a licensee of Avis, Budget, Payless or Zipcar or one of the Affiliates of Avis, Budget,
Payless or Zipcar authorized to operate its own rental vehicle business in Canada under the “Avis”, “Budget”, “Payless” or “Zipcar” name. 

 

	 	(c)	The definition of “Licensee Vehicle Assignment Agreement” in Section 1.1 of the Series 2011-1 Indenture Supplement is hereby removed and replaced with the following: 

“Licensee Vehicle Assignment Agreement” means, where the vendor is Avis, Budget, Payless or Zipcar, an agreement to be
entered into between Rental ULC and Avis, Budget, Payless or Zipcar, as applicable, (or between Rental ULC and Funding LP if Funding LP has first entered into an agreement with Avis, Budget, Payless or Zipcar as vendor and Funding LP as purchaser)
and where the vendor is an Avis or Budget System Member, an agreement to be entered into between Rental ULC and such 

  
 -5- 

 
Avis or Budget System Member (or between Rental ULC and Funding LP if Funding LP has first entered into an agreement with such Avis or Budget System Member as vendor and Funding LP as purchaser),
each agreement in respect of which the Rating Agency Condition has been satisfied. 
  

	 	(d)	The definition of “Licensee Vehicle Assignment Agreement” in Section 1.1 of each of the Series 2012-1 Indenture Supplement and the Series 2014-1 Indenture Supplement is hereby removed and replaced with
the following: 

 “Licensee Vehicle Assignment Agreement” means, where the vendor is Avis, Budget, Payless or
Zipcar, an agreement to be entered into between Rental ULC and Avis, Budget, Payless or Zipcar, as applicable, (or between Rental ULC and Funding LP if Funding LP has first entered into an agreement with Avis, Budget, Payless or Zipcar as vendor and
Funding LP as purchaser) and where the vendor is an Avis or Budget System Member, an agreement to be entered into between Rental ULC and such Avis or Budget System Member (or between Rental ULC and Funding LP if Funding LP has first entered into an
agreement with such Avis or Budget System Member as vendor and Funding LP as purchaser). 
  

	 	(e)	The definition of “Licensee Vehicles” in Section 1.1 of each of the Series 2011-1 Indenture Supplement, the Series 2012-1 Indenture Supplement, the Series 2013-1 Indenture Supplement and the Series 2014-1
Indenture Supplement is hereby removed and replaced with the following: 

 “Licensee Vehicles” means any
Vehicles owned by (a) Avis or Budget System Members; or (b) Avis, Budget, Payless or Zipcar where such Vehicles have been acquired, directly or indirectly, by Avis, Budget, Payless or Zipcar from Avis or Budget System Members. 

 

	 	(f)	The definition of “Note Purchase Agreement” in Section 1.1 of the Series 2013-1 Indenture Supplement is hereby removed and replaced with the following: 

“Note Purchase Agreement” means each note purchase agreement entered into between Funding LP, Avis, Budget, Payless, Zipcar,
Rental ULC and a Series 2013-1 Noteholder, in each case as the same may be amended, restated, supplemented or modified from time to time. 
  

	 	(g)	The definition of “Parent Guarantee” in Section 1.1 of the Series 2011-1 Indenture Supplement is hereby removed and replaced with the following: 

“Parent Guarantee” means the guarantee dated as of March 17, 2011, made by the Parent in favour of the Indenture
Trustee, on behalf of itself and the Series 2011-1 Noteholders, pursuant to which the Parent has guaranteed, among other things, certain of the non-monetary obligations of Avis, Budget, Payless, Zipcar and Funding LP under the Series 2011-1
Transaction Documents, as the same may be amended or restated from time to time in accordance with its terms. 

  
 -6- 

	 	(h)	The definition of “Parent Guarantee” in Section 1.1 of the Series 2012-1 Indenture Supplement is hereby removed and replaced with the following: 

“Parent Guarantee” means the guarantee dated as of December 11, 2012, made by the Parent in favour of the Indenture
Trustee, on behalf of itself and the Series 2012-1 Noteholders, pursuant to which the Parent has guaranteed, among other things, certain of the non-monetary obligations of Avis, Budget, Payless, Zipcar and Funding LP under the Series 2012-1
Transaction Documents, as the same may be amended or restated from time to time in accordance with its terms. 
  

	 	(i)	The definition of “Parent Guarantee” in Section 1.1 of the Series 2013-1 Indenture Supplement is hereby removed and replaced with the following: 

“Parent Guarantee” means the guarantee dated as of December 6, 2013, made by the Parent in favour of the Indenture
Trustee, on behalf of itself and the Series 2013-1 Noteholders, pursuant to which the Parent has guaranteed, among other things, certain of the non-monetary obligations of Avis, Budget, Payless, Zipcar and Funding LP under the Series 2013-1
Transaction Documents, as the same may be amended or restated from time to time with the consent of each of the Series 2013-1 Noteholders. 
  

	 	(j)	The definition of “Parent Guarantee” in Section 1.1 of the Series 2014-1 Indenture Supplement is hereby removed and replaced with the following: 

“Parent Guarantee” means the guarantee dated as of June 5, 2014, made by the Parent in favour of the Indenture Trustee,
on behalf of itself and the Series 2014-1 Noteholders, pursuant to which the Parent has guaranteed, among other things, certain of the non-monetary obligations of Avis, Budget, Payless, Zipcar and Funding LP under the Series 2014-1 Transaction
Documents, as the same may be amended or restated from time to time in accordance with its terms. 
  

	 	(k)	Section 1.1 of each of the Series 2011-1 Indenture Supplement, the Series 2012-1 Indenture Supplement, the Series 2013-1 Indenture Supplement and the Series 2014-1 Indenture Supplement is hereby amended by the
addition of the following as a new definition: 

 “Payless” means Payless Car Rental Canada Inc., a
corporation incorporated under the laws of Canada, and its successors and permitted assigns. 
  

	 	(l)	Section 5.4(b) of the Series 2011-1 Indenture Supplement is hereby removed and replaced with the following: 

In buying Vehicles for Rental ULC, other than Excluded Vehicles, Rental ULC shall (i) buy only Vehicles produced by Manufacturers and
only of the Model Year corresponding to the current Purchasing Year or the two Model Years prior to the current Purchasing Year or, in the case of box trucks, of the four Model Years prior to the current Purchasing Year;
(ii)

  
 -7- 

 
buy Vehicles only from (A) in the case of all Vehicles (1) Approved Dealers or Manufacturers, or (2) Avis or Budget System Members, Funding LP or Avis, Budget, Payless or Zipcar,
in each case, pursuant to a Licensee Vehicle Assignment Agreement in respect of which the Rating Agency Condition, and any other conditions precedent specified in the Indenture Supplement of any other outstanding Series or Classes of Notes which
have not been waived by the requisite Noteholders for such other Series or Class of Notes, have been satisfied, and (B) in the case of Used Vehicles only, (1) any nationally recognized automobile auction company (“Auction
Company”) in the United States or Canada that is approved to sell Vehicles for Manufacturers, and (2) any finance company affiliated with a Manufacturer (“Approved Finance Company”); (iii) in the case of Vehicles
(other than Used Vehicles), buy from Manufacturers and Approved Dealers only and only against a Manufacturer’s invoice; (iv) buy from Avis or Budget System Members or Avis, Budget, Payless or Zipcar pursuant to a Licensee Vehicle
Assignment Agreement only Vehicles that were new Vehicles when purchased by the relevant licensee or that were Used Vehicles purchased by such licensee from an Auction Company or an Approved Finance Company and that have had no other intermediate
owners (except for Avis, Budget, Payless or Zipcar or Affiliates of the relevant Avis or Budget System Member) and in respect of which the Manufacturer’s invoice of the relevant licensee is delivered; (v) buy Vehicles for a purchase price
that is (A) in the case of Program Vehicles that are not Used Vehicles, equal to the Original Book Value, and in the case of Program Vehicles that are Used Vehicles, equal to the depreciated value ascribed to each Vehicle as at the date of such
purchase pursuant to the applicable Repurchase Agreement, with a reasonable allowance for age, mileage and damage to such Vehicle, and (B) in the case of Non-Program Vehicles, the fair market value of each Vehicle (which in the case of Vehicles
purchased from Avis or Budget System Members or Avis, Budget, Payless or Zipcar or pursuant to a Licensee Vehicle Assignment Agreement shall approximate the original cash purchase price paid by the relevant Avis or Budget System Member or Avis,
Budget, Payless or Zipcar, as applicable, for such Vehicle less depreciation at a rate in accordance with Canadian GAAP but in no event less than 2% per month applied on a straight line basis, with a reasonable allowance for age, mileage and
damage to such Vehicle); and (vi) ensure that, subject to the terms of any Licensee Vehicle Assignment Agreement with respect to the Rental ULC Vehicles acquired pursuant thereto, the title to all Vehicles bought for Rental ULC is registered in
the name of Rental ULC. All Vehicles purchased by Rental ULC shall be purchased in Canadian Dollars. 

  
 -8- 

	 	(m)	Section 5.4(b) of each of the Series 2012-1 Indenture Supplement and the Series 2014-1 Indenture Supplement is hereby removed and replaced with the following: 

In buying Vehicles for Rental ULC, other than Excluded Vehicles, Rental ULC shall (i) buy only Vehicles produced by Manufacturers and
only of the Model Year corresponding to the current Purchasing Year or the two Model Years prior to the current Purchasing Year or, in the case of box trucks, of the four Model Years prior to the current Purchasing Year; (ii) buy Vehicles only
from (A) in the case of all Vehicles (1) Approved Dealers or Manufacturers, or (2) Avis or Budget System Members, Funding LP or Avis, Budget, Payless or Zipcar, in each case, pursuant to a Licensee Vehicle Assignment Agreement in
respect of which the Rating Agency Condition, and any other conditions precedent specified in the Indenture Supplement of any other outstanding Series or Classes of Notes which have not been waived by the requisite Noteholders for such other Series
or Class of Notes, have been satisfied provided that for any purchase where the aggregate purchase price of the Vehicles subject to such purchase is less than $25,000,000 then the Rating Agency Condition need not be satisfied but 10 Business
Days’ prior written notice of such purchase shall have been provided to the Rating Agency, and (B) in the case of Used Vehicles only, (1) any nationally recognized automobile auction company (“Auction Company”) in the
United States or Canada that is approved to sell Vehicles for Manufacturers, and (2) any finance company affiliated with a Manufacturer (“Approved Finance Company”); (iii) in the case of Vehicles (other than Used
Vehicles), buy from Manufacturers and Approved Dealers only and only against a Manufacturer’s invoice; (iv) buy from Avis or Budget System Members or Avis, Budget, Payless or Zipcar pursuant to a Licensee Vehicle Assignment Agreement only
Vehicles that were new Vehicles when purchased by the relevant licensee or that were Used Vehicles purchased by such licensee from an Auction Company or an Approved Finance Company and that have had no other intermediate owners (except for Avis,
Budget, Payless or Zipcar or Affiliates of the relevant Avis or Budget System Member) and in respect of which the Manufacturer’s invoice of the relevant licensee is delivered; (v) buy Vehicles for a purchase price that is (A) in the
case of Program Vehicles that are not Used Vehicles, equal to the Original Book Value, and in the case of Program Vehicles that are Used Vehicles, equal to the depreciated value ascribed to each Vehicle as at the date of such purchase pursuant to
the applicable Repurchase Agreement, with a reasonable allowance for age, mileage and damage to such Vehicle, and (B) in the case of Non-Program Vehicles, the fair market value of each Vehicle (which in the case of Vehicles purchased from Avis
or Budget System Members or Avis, Budget, Payless or Zipcar or pursuant to a Licensee Vehicle Assignment Agreement shall approximate the original cash purchase price paid by the relevant Avis or Budget System Member or Avis, Budget, Payless or
Zipcar, as applicable, for such Vehicle less depreciation at a rate in accordance with Canadian GAAP but in no event less than 2% per month applied on a straight line basis, with a reasonable allowance for age, mileage and damage to such
Vehicle); and (vi) ensure that, subject to the terms of any Licensee Vehicle Assignment Agreement with respect to the Rental ULC Vehicles acquired pursuant thereto, the title to all Vehicles bought for Rental ULC is registered in the name of
Rental ULC. All Vehicles purchased by Rental ULC shall be purchased in Canadian Dollars. 

  
 -9- 

	 	(n)	Section 5.4(e) of the Series 2013-1 Indenture Supplement is hereby removed and replaced with the following: 

Rental ULC shall notify each Series 2013-1 Noteholder and each Rating Agency forthwith upon learning of the occurrence of any material adverse
change in the financial condition or operations of Avis, Budget, Payless, Zipcar or Rental ULC or of the occurrence of any Series 2013-1 Early Amortization Event (other than the events described in Section 6.1(d)). 

 

	 	(o)	The second paragraph of Section 5.4(f) of the Series 2013-1 Indenture Supplement is hereby removed and replaced with the following: 

The Administrator will deliver to each of the Series 2013-1 Noteholders and the Indenture Trustee, within 60 days of the end of each of the
first three (3) fiscal quarters of each fiscal period of Avis Budget Car Rental Canada ULC, a copy of the unaudited income and cash flow statements and the unaudited balance sheet of Avis Budget Car Rental Canada ULC (which shall include as a
supplemental schedule the unaudited balance sheet and income statement for each of Rental ULC, Funding LP, Avis and Budget (the “Supplemental Schedule”) and shall also include similar supplemental information for each of Payless and
Zipcar (the “Supplemental Information”)) as at and for the period then ended and, as soon as available but not later than 120 days after the end of each fiscal period of Avis Budget Car Rental Canada ULC, a copy of the audited
income and cash flow statements and the audited balance sheet of Avis Budget Car Rental Canada ULC, including the Supplemental Schedule and Supplemental Information, as at and for the period then ended. 

 

	 	(p)	Section 5.5(b) of the Series 2013-1 Indenture Supplement is hereby removed and replaced with the following: 

In buying Vehicles for Rental ULC, other than Excluded Vehicles, Rental ULC shall (i) buy only Vehicles produced by Manufacturers and
only of the Model Year corresponding to the current Purchasing Year or the two Model Years prior to the current Purchasing Year or, in the case of box trucks, of the four Model Years prior to the current Purchasing Year; (ii) buy Vehicles only
from (A) in the case of all Vehicles (1) Approved Dealers or Manufacturers, or (2) Avis or Budget System Members, Funding LP or Avis, Budget, Payless or Zipcar, in each case pursuant to a Licensee Vehicle Assignment Agreement provided
that for any purchase where the aggregate purchase price of the Vehicles subject to such purchase is $25,000,000 or more then each of the conditions precedent in Schedule “C” shall be satisfied and for all other purchases 10 Business
Days’ prior written notice of such purchase shall have been provided to 

  
 -10- 

 
each of the Rating Agencies, and (B) in the case of Used Vehicles only, (1) any nationally recognized automobile auction company (“Auction Company”) in the United
States or Canada that is approved to sell Vehicles for Manufacturers, and (2) any finance company affiliated with a Manufacturer (“Approved Finance Company”); (iii) in the case of Vehicles (other than Used Vehicles), buy
from Manufacturers and Approved Dealers only and only against a Manufacturer’s invoice; (iv) buy from Avis or Budget System Members or Avis, Budget, Payless or Zipcar pursuant to a Licensee Vehicle Assignment Agreement only Vehicles that
were new Vehicles when purchased by the relevant licensee or that were Used Vehicles purchased by such licensee from an Auction Company or an Approved Finance Company and that have had no other intermediate owners (except for Avis, Budget, Payless
or Zipcar or Affiliates of the relevant Avis or Budget System Member) and in respect of which the Manufacturer’s invoice of the relevant licensee is delivered; (v) buy Vehicles for a purchase price that is (A) in the case of Program
Vehicles, equal to the depreciated value ascribed to each Vehicle as at the date of such purchase pursuant to the applicable Repurchase Agreement, with a reasonable allowance for age, mileage and damage to such Vehicle, and (B) in the case of
Non-Program Vehicles, the fair market value of each Vehicle (which in the case of Vehicles purchased from Avis or Budget System Members or Avis, Budget, Payless or Zipcar or pursuant to a Licensee Vehicle Assignment Agreement shall approximate the
original cash purchase price paid by the relevant Avis or Budget System Member or Avis, Budget, Payless or Zipcar, as applicable, for such Vehicle less depreciation at a rate in accordance with Canadian GAAP but in no event less than 2% per
month applied on a straight line basis, with a reasonable allowance for age, mileage and damage to such Vehicle); and (vi) ensure that, subject to the terms of any Licensee Vehicle Assignment Agreement with respect to the Vehicles acquired
pursuant thereto, the title to all Vehicles bought for Rental ULC is registered in the name of Rental ULC. All Vehicles purchased by Rental ULC shall be purchased in Canadian Dollars. 

 

	 	(q)	Section 6.1(c) of the Series 2011-1 Indenture Supplement is hereby removed and replaced with the following: 

the inaccuracy when made of a representation or warranty of, or the breach of any covenant (other than a covenant referred to in clause
(b) above) by, Rental ULC, Avis, Budget, Payless, Zipcar, or Funding LP, as applicable, herein or in any other Transaction Document which inaccuracy or breach is reasonably likely to have a Material Adverse Effect in respect of Rental ULC or
Funding LP, provided that if such inaccuracy or breach is capable of being remedied, then it shall not constitute a Series 2011-1 Early Amortization Event unless it remains unremedied for five Business Days after receipt of written notice from the
Indenture Trustee; 

  
 -11- 

	 	(r)	Section 6.1(c) of the Series 2012-1 Indenture Supplement is hereby removed and replaced with the following: 

the inaccuracy when made of a representation or warranty of, or the breach of any covenant (other than a covenant referred to in clause
(b) above) by, Rental ULC, Avis, Budget, Payless, Zipcar, or Funding LP, as applicable, herein or in any other Transaction Document which inaccuracy or breach is reasonably likely to have a Material Adverse Effect in respect of Rental ULC or
Funding LP, provided that if such inaccuracy or breach is capable of being remedied, then it shall not constitute a Series 2012-1 Early Amortization Event unless it remains unremedied for five Business Days after receipt of written notice from the
Indenture Trustee; 
  

	 	(s)	Section 6.1(c) of the Series 2013-1 Indenture Supplement is hereby removed and replaced with the following: 

the inaccuracy when made of a representation or warranty of, or the breach of any covenant (other than a covenant referred to in clause
(b) above) by, Rental ULC, Avis, Budget, Payless, Zipcar or Funding LP, as applicable, herein or in any other Transaction Document which inaccuracy or breach is reasonably likely to have a Material Adverse Effect in respect of Rental ULC or
Funding LP, provided that if such inaccuracy or breach is capable of being remedied, then it shall not constitute a Series 2013-1 Early Amortization Event unless it remains unremedied for five Business Days after receipt of written notice from the
Indenture Trustee or a Series 2013-1 Noteholder; 
  

	 	(t)	Section 6.1(c) of the Series 2014-1 Indenture Supplement is hereby removed and replaced with the following: 

the inaccuracy when made of a representation or warranty of, or the breach of any covenant (other than a covenant referred to in clause
(b) above) by, Rental ULC, Avis, Budget, Payless, Zipcar, or Funding LP, as applicable, herein or in any other Transaction Document which inaccuracy or breach is reasonably likely to have a Material Adverse Effect in respect of Rental ULC or
Funding LP, provided that if such inaccuracy or breach is capable of being remedied, then it shall not constitute a Series 2014-1 Early Amortization Event unless it remains unremedied for five Business Days after receipt of written notice from the
Indenture Trustee; 
  

	 	(u)	Section 6.1(d) of each of the Series 2011-1 Indenture Supplement, the Series 2012-1 Indenture Supplement and the Series 2014-1 Indenture Supplement is hereby removed and replaced with the following:

 Avis, Budget, Payless or Zipcar failing to pay when due any obligation (the “underlying obligation”) for a sum
certain in excess of $20,000,000 and such failure continuing for three Business Days after (i) written notice to Avis, Budget, Payless or Zipcar, as applicable, from the party to whom the underlying obligation is owed if there is no grace
period applicable to the underlying obligation; or (ii) the expiry of any grace period applicable to the underlying obligation; 

  
 -12- 

	 	(v)	Section 6.1(d) of the Series 2013-1 Indenture Supplement is hereby removed and replaced with the following: 

the occurrence of a material adverse change since the date hereof in the financial condition or operations of Rental ULC, Avis, Budget,
Payless, Zipcar or Funding LP which, in the opinion of a Series 2013-1 Noteholder, and which opinion has been communicated in writing to Rental ULC, Avis, Budget, Payless and Zipcar and the other Series 2013-1 Noteholders, could reasonably be
expected to result in Rental ULC, Funding LP, Avis, Budget, Payless or Zipcar (i) being unable to satisfy its obligations hereunder or under the other Transaction Documents to which it is party; or (ii) becoming subject to an Insolvency
Event; 
  

	 	(w)	Section 6.1(e) of the Series 2013-1 Indenture Supplement is hereby removed and replaced with the following: 

Avis, Budget, Payless, Zipcar or Funding LP failing to pay when due any obligation (the “underlying obligation”) for a sum certain
in excess of $2,000,000 and such failure continuing for three Business Days after (i) written notice to Avis, Budget, Payless, Zipcar or Funding LP, as applicable, from the party to whom the underlying obligation is owed if there is no grace
period applicable to the underlying obligation; or (ii) the expiry of any grace period applicable to the underlying obligation; 
 2.2 Amendments to
the Indenture 
 The Indenture is hereby amended as set forth in this Section 2.2: 

 

	 	(a)	The definition of “Affiliate” in Section 1.1 of the Indenture is hereby amended by adding a reference to “Payless,” immediately following the word “Budget,”. 

 

	 	(b)	The definition of “Funding LP Partnership Agreement” in Section 1.1 of the Indenture is hereby removed and replaced with the following: 

“Funding LP Partnership Agreement” means the seventh amended and restated limited partnership agreement dated as of
December 5, 2014 between Avis, Budget, Payless, Zipcar and 2233516 Ontario Inc., a corporation incorporated under the laws of Ontario, as the same may be amended, supplemented or restated from time to time. 

 

	 	(c)	Section 1.1 of the Indenture is hereby amended by adding the following as a new definition: 

“Payless” means Payless Car Rental Canada Inc., a corporation incorporated under the laws of Canada, and its successors and
assigns. 

  
 -13- 

	 	(d)	Section 10.1(d) of the Indenture is hereby removed and replaced with the following: 

 the
failure by Rental ULC, Funding LP, Avis, Budget, Payless, Zipcar or the Parent to observe any covenant herein or in any other Transaction Document (other than as provided for in Sections 10.1(a), (b) or (c)), which failure is reasonably likely
to have a Material Adverse Effect in respect of Rental ULC, Funding LP, Avis, Budget, Payless, Zipcar or the Parent, provided that if such breach of covenant is capable of being remedied, it shall not constitute an Event of Default unless it remains
unremedied for five Business Days after Rental ULC is provided with written notice of such breach; 
  

	 	(e)	Section 10.1(e) of the Indenture is hereby removed and replaced with the following: 

 an
Insolvency Event occurs with respect to Rental ULC, Funding LP, Avis, Budget, Payless, Zipcar or the Parent; 
  

	 	(f)	Section 14.2 of the Indenture is hereby removed and replaced with the following: 

 No
recourse may be taken, directly or indirectly, with respect to the obligations of Rental ULC for payments of principal of or interest on the Notes against (i) any shareholder (or against any partner of any shareholder) of Rental ULC, except as
any such Person may have expressly agreed or (ii) Avis, Budget, Payless or Zipcar, either directly or indirectly, as a result of Rental ULC granting the Security Interest in Collateral pursuant to Section 4.1. No recourse may be taken,
directly or indirectly, against Funding LP to collect any Inter-Company Loan made by Rental ULC in compliance with the Transaction Documents. 
 2.3
Amendments to the Administration Agreement 
 The Administration Agreement is hereby amended as set forth in this Section 2.3: 

 

	 	(a)	The definition of “General Partner” in Section 1.1 of the Administration Agreement is hereby removed and replaced with the following: 

“General Partner” means Avis, Budget, Payless or Zipcar, each a general partner of Funding LP. 

2.4 Addition of New Party and Amendments to the Series 2013-1 Note Purchase Agreements 

Payless hereby agrees to become party to each of the Series 2013-1 Note Purchase Agreements and to be bound by the terms thereof as if it were
an original signatory thereto. 

  
 -14- 

 In addition, the Series 2013-1 Note Purchase Agreements are hereby amended as set forth in this
Section 2.4: 
  

	 	(a)	The definition of “Commitment Termination Date” in Section 1.1 of each of the Series 2013-1 Note Purchase Agreements is hereby amended by: (x) replacing the date reference of “November 30,
2015” contained therein with a date reference of “November 30, 2016”; and (y) replacing the date reference of “September 30, 2015” contained therein with a date reference of “September 30, 2016”.

  

	 	(b)	Section 2.2(a)(vii) in each of the Series 2013-1 Note Purchase Agreements is hereby removed and replaced with the following: 

each of the representations and warranties of Rental ULC, Funding LP, Avis, Budget, Payless, Zipcar, and the Parent under all Transaction
Documents shall be true and correct in all material respects as if made on the Increase Date, unless such representation and warranty is made specifically as of another date or except as may otherwise be provided by Section 4.6(f) of the Series
2013-1 Indenture Supplement. 
  

	 	(c)	Section 4.2(b) in each of the Series 2013-1 Note Purchase Agreements is hereby removed and replaced with the following: 

The Note Purchaser shall not divulge, except to its agents, employees, professional advisors, liquidity providers, trustees, prospective
assignees, credit enhancers, any Replacement Administrator, the Back-up Administrator, the Liquidation Agent, the Indenture Trustee, the Rating Agencies, other rating agencies rating the Commercial Paper or any prospective rating agencies on a need
to know basis or as required by law, the confidential business of Avis, Budget, Payless, Zipcar, Funding LP or Rental ULC. Information shall not be confidential for the purposes of this Section 4.2(b) if it becomes generally available to the
public from a source other than the Note Purchaser or becomes known to the Note Purchaser from a source other than Avis, Budget, Payless, Zipcar, Funding LP or Rental ULC and its representatives provided that such source, so far as is known
to the Note Purchaser, is not bound by a contractual or other obligation of confidentiality to Avis, Budget, Payless, Zipcar, Funding LP or Rental ULC. 
  

	 	(d)	Section 4.3(e) in each of the Series 2013-1 Note Purchase Agreements is hereby removed and replaced with the following: 

Each of Avis, Budget, Payless and Zipcar covenants and agrees that in its capacity as general partner of Funding LP, it will perform, or cause
Funding LP to perform, the obligations of Funding LP under the Series 2013-1 Transaction Documents. 
  

	 	(e)	Section 4.3(f) in each of the Series 2013-1 Note Purchase Agreements is hereby removed and replaced with the following: 

Each of Avis, Budget, Payless and Zipcar covenants and agrees that it shall not enter into any Permitted Vehicle Transaction without the
consent of the Note Purchaser, such consent not to be unreasonably withheld and the consent of each other Series 2013-1 Noteholder. 

  
 -15- 

	 	(f)	Section 4.3(g) in each of the Series 2013-1 Note Purchase Agreements is hereby removed and replaced with the following: 

In the event that Avis, Budget, Payless or Zipcar generates any revenues by renting and leasing Vehicles (other than Rental ULC Vehicles)
obtained through a Permitted Vehicle Transaction or through a Car Rental Business (as defined in the Funding LP Partnership Agreement) contemplated in Section 4.6(b) of the Funding LP Partnership Agreement, each of Avis, Budget, Payless and
Zipcar covenants and agrees to track such revenues and allocate them to their respective businesses accordingly rather than allocating such revenues to the business of Funding LP. 

 

	 	(g)	Section 5.1 in each of the Series 2013-1 Note Purchase Agreements is hereby removed and replaced with the following: 

Without limiting any other rights which the Note Purchaser may have hereunder or under Applicable Law, each of Avis, Budget, Payless and
Zipcar hereby agrees to indemnify the Note Purchaser and its trustees, employees, officers, directors, agents and assigns (collectively, the “Indemnified Parties”) from and against any and all damages, losses, claims, liabilities
and related costs and expenses, including reasonable legal fees and disbursements (all of the foregoing being collectively referred to as “Indemnified Amounts”), awarded against or reasonably incurred by any of the Indemnified
Parties arising out of or as a result of a breach or violation of any of the Transaction Documents by Avis, Budget, Zipcar, Payless, Funding LP, or Rental ULC, excluding, however, damages, losses, claims, liabilities, costs and expenses resulting
from gross negligence or wilful misconduct on the part of the Note Purchaser. The obligations of Avis, Budget, Payless and Zipcar under this Section 5.1 shall survive any termination of any of the Transaction Documents. Without limiting the
generality of the foregoing, but subject to the foregoing exclusion, each of Avis, Budget, Payless and Zipcar shall indemnify the Indemnified Parties for Indemnified Amounts awarded or incurred as aforesaid relating to or resulting from: 

(a) reliance on any representation, warranty or statement made by Avis, Budget, Payless, Zipcar, Funding LP, or Rental ULC (or any of their
respective officers) under, in or in connection with any of the Transaction Documents, any officer’s certificate or any information or report delivered by Avis, Budget, Payless, Zipcar, Funding LP, or Rental ULC pursuant hereto or thereto,
which shall have been false, incorrect or inaccurate in any material respect when made; 
 (b) the failure by Avis, Budget, Payless, Zipcar,
Funding LP, or Rental ULC to comply with any Applicable Law with respect to any Rental ULC Vehicle or the non-conformity of any Vehicle rental or leasing agreement of Funding LP, in connection with its Vehicle rental and leasing business, with any
Applicable Law; 

  
 -16- 

 (c) any claim for personal injury, death, property damage or product liability which may arise
by reason of, result from or be caused by, or relate to the use, operation, maintenance or ownership of, Rental ULC Vehicles; and 
 (d) any
failure of Avis, Budget, Payless, Zipcar, Funding LP, or Rental ULC to perform its respective covenants or obligations in accordance with the provisions of any of the Transaction Documents. 

 

	 	(h)	Section 5.3 in each of the Series 2013-1 Note Purchase Agreements is hereby removed and replaced with the following: 

At the request of the Note Purchaser, each of Avis, Budget, Payless and Zipcar shall, at its expense, co-operate with the Note Purchaser in
any action, suit or proceeding brought by or against the Note Purchaser relating to any of the transactions contemplated by any of the Transaction Documents or any Rental ULC Vehicles (except for an action, suit or proceeding by one of the parties
hereto against another party hereto). In addition, each of Avis, Budget, Payless and Zipcar agree to notify the Note Purchaser and the Note Purchaser agrees to notify Avis, Budget, Payless and Zipcar, at Avis, Budget, Payless and Zipcar’s
expense, promptly upon learning of any pending or threatened action, suit or proceeding, if the judgment or expenses of defending such action, suit or proceeding would be covered by Section 5.1 (except for an action, suit or proceeding by one
of the parties hereto against another party hereto); provided, however, that if (a) Avis, Budget, Payless or Zipcar shall have acknowledged that Section 5.1 would cover any judgment or expenses in any action, suit or
proceeding, and (b) in the sole determination of the Note Purchaser, Avis, Budget, Payless or Zipcar, as applicable, has the financial ability to satisfy such judgment or expenses, then Avis, Budget, Payless and Zipcar shall each have the
right, on behalf of the Note Purchaser but at the expense of Avis, Budget, Payless and Zipcar, to defend such action, suit or proceeding with counsel selected by Avis, Budget, Payless and Zipcar, and shall have sole discretion as to whether to
litigate, appeal or enter into an exclusively monetary settlement. 
  

	 	(i)	Section 6.1(b) in each of the Series 2013-1 Note Purchase Agreements is hereby removed and replaced with the following: 

None of Rental ULC, Avis, Budget, Payless, Zipcar or Funding LP may sell, exchange, transfer, assign, pledge, hypothecate or otherwise dispose
of or subject to any charge, lien, security interest or other encumbrance all or any interest herein except with the consent of the Note Purchaser in its absolute discretion. 

  
 -17- 

	 	(j)	Section 6.5 in each of the Series 2013-1 Note Purchase Agreements is hereby amended by adding after part (b) a new part (c) containing the following: 

if to Payless, addressed to it at: 

Payless Car Rental Canada Inc. 

1 Convair Drive East 

Etobicoke, ON M9W 6Z9 

Attention:      Controller 

Fax No.:         (416) 213-8505 

with a copy to: 
 Avis Budget
Car Rental, LLC 
 6 Sylvan Way 

Parsippany, N.J. 
 USA 07054

 Attention:      Treasurer 

Fax No.:         (973) 496-3560 

and 

Attention:      Legal Department 

Fax No.:         (973) 496-3444 

and a copy to: 
 Avis Budget
Group, Inc. 
 6 Sylvan Way 

Parsippany, N.J. 
 USA 07054

 Attention:      Treasurer 

Fax No.:         (973) 496-3560 

 

	 	(k)	Section 6.5 in each Series 2013-1 Note Purchase Agreement is hereby amended by changing part (c) “if to Zipcar” to part (d), changing part (d) “if to the Note Purchaser” to part (e),
changing part (e) “if to Rental ULC” to part (f) and changing part (f) “if to Funding LP” to part (g). 

  

	 	(l)	Section 6.8(a) in each of the Series 2013-1 Note Purchase Agreements is hereby removed and replaced with the following: 

Each of Rental ULC, Funding LP, Avis, Budget, Payless and Zipcar agrees that it shall not institute against, or join any other Person in
instituting against, the Note Purchaser any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding or other proceedings under any Insolvency Legislation, until one year and a day after the last maturing commercial paper note
issued by the Note Purchaser is paid. 
  

	 	(m)	Schedule A to each of the Series 2013-1 Note Purchase Agreements is hereby amended by adding the words “Payless Car Rental Canada Inc.,” after the words “Budgetcar Inc.,” on page 1 of such schedule.

  
 -18- 

	 	(n)	Schedule B to each of the Series 2013-1 Note Purchase Agreements is hereby amended by adding the words “Payless Car Rental Canada Inc.,” after the words “Aviscar Inc.,” on page 1 of such schedule and
by adding the word “Payless” after the word “Avis,” on page 2 of such schedule. 

  

	 	(o)	Schedule B to each of the Series 2013-1 Note Purchase Agreements is amended by replacing the words “Zipcar Inc.” on page 1 of such schedule with the words “Zipcar Canada Inc.” 

2.5 Amendments to Master Lease Agreement 

The Master Lease Agreement is hereby amended as set forth in this Section 2.5: 

 

	 	(a)	The definition of “Avis or Budget System Member” in Section 1.1 of the Master Lease Agreement is hereby removed and replaced with the following: 

“Avis or Budget System Member” means a licensee of the general partners of Funding LP or one of the Affiliates of the general
partners of Funding LP authorized to operate its own rental vehicle business in Canada under the “Avis”, “Budget”, “Payless” or “Zipcar” name. 

 

	 	(b)	The definition of “Funding LP Business Vehicle Rental Agreement” in Section 1.1 of the Master Lease Agreement is hereby removed and replaced with the following: 

“Funding LP Business Vehicle Rental Agreement” means the agreement pursuant to which a general partner of Funding LP, as
agent for an undisclosed principal (namely Funding LP), rents Leased Vehicles to retail, commercial and leisure customers substantially in the form of the agreements used by such general partner for such purposes prior to the date hereof, or in the
case of each of Payless or Zipcar, prior to the date that it became a general partner of Funding LP. 
  

	 	(c)	Section 9.1(e) of the Master Lease Agreement is hereby removed and replaced with the following: 

Avis, Budget, Payless, Zipcar, or Funding LP failing to pay when due any obligation (the “underlying obligation”) for a sum certain
in excess of $20,000,000 and such failure continuing for three (3) Business Days after (i) written notice to Avis, Budget, Payless, Zipcar, or Funding LP, as applicable, from the party to whom the underlying obligation is owed if there is
no grace period applicable to the underlying obligation; or (ii) the expiry of any grace period applicable to the underlying obligation; 
 2.6
Amendments to the Parent Guarantees 
 The Parent hereby consents to: (a) the addition of Payless as a general partner of Funding LP
and the amendments made on the date hereof to the Funding LP Partnership Agreement; (b) the addition of Payless as a party to the Series 2013-1 Note Purchase Agreements; and (c) the amendments to the Supplements, the Indenture, the Funding
LP Security 

  
 -19- 

 
Agreement, the Series 2013-1 Note Purchase Agreements, the Administration Agreement and the Master Lease Agreement effected by this Amendment and the Parent confirms and acknowledges that its
obligations under the Parent Guarantees remain in full force and effect, notwithstanding such additions and amendments. 
 In addition: 

 

	 	(a)	the Series 2011-1 Parent Guarantee and the Series 2012-1 Parent Guarantee are hereby amended as set forth below: 

  

	 	(i)	The words “and Payless” are hereby added after the word “Budgetcar” where the word “Budgetcar” appears in the definition of “Servicing Obligations”, in both places in
Section 11(h) and in both places in Section 12(b). 

  

	 	(ii)	The word “, Payless” is hereby added after the word “Aviscar” where the word “Aviscar” appears in each place in Section 3 (other than part (a)), Section 4, Section 7,
Section 15 and Section 25. 

  

	 	(iii)	The words “or Payless” are hereby added after the word “Budgetcar” where the word “Budgetcar” appears in Section 6 and Section 17(b). 

 

	 	(iv)	The word “, Payless’s” is hereby added after the word “Budgetcar’s” where the word “Budgetcar’s” appears in Section 4(a)(ix). 

 

	 	(b)	the Series 2013-1 Parent Guarantee is hereby amended as set forth below: 

  

	 	(i)	The word “, Payless” is hereby added after the word “Budgetcar” where the word “Budgetcar” appears in the definition of “Servicing Obligations”, in both places in
Section 11(i) and in both places in Section 12(b). 

  

	 	(ii)	The word “, Payless” is hereby added after the word “Budgetcar” where the word “Budgetcar” appears in each place in Section 3, Section 4, Section 7, Section 15 and
Section 25. 

  

	 	(iii)	The word “, Payless” is hereby added after the word “Budgetcar” where the word “Budgetcar” appears in Section 6 and Section 17(b). 

 

	 	(iv)	The word “, Payless’s” is hereby added after the word “Budgetcar’s” where the word “Budgetcar’s” appears in Section 4(i). 

 

	 	(c)	the Series 2014-1 Parent Guarantee is hereby amended as set forth below: 

  

	 	(i)	The word “, Payless” is hereby added after the word “Budgetcar” where the word “Budgetcar” appears in the definition of “Servicing Obligations”, in both places in
Section 11(h) and in both places in Section 12(b). 

  

	 	(ii)	The word “, Payless” is hereby added after the word “Budgetcar” where the word “Budgetcar” appears in each place in Section 3, Section 4, Section 7, Section 15 and
Section 25. 

  

	 	(iii)	The word “, Payless” is hereby added after the word “Budgetcar” where the word “Budgetcar” appears in Section 6 and Section 17(b). 

 

	 	(iv)	The word “, Payless’s” is hereby added after the word “Budgetcar’s” where the word “Budgetcar’s” appears in Section 4(a)(ix). 

  
 -20- 

 2.7 Amendments to the Funding LP Security Agreement 

The Funding LP Security Agreement is hereby amended as set forth in this Section 2.7: 

The words “Payless Car Rental Canada Inc.,” are hereby added after the words “Budgetcar Inc.,” in both places where the
words “Budgetcar Inc.,” appear in Section 4.3(o) of such agreement. 
 2.8 Amendments to the Funding LP Partnership Agreement 

By their execution of this Amendment, each of the Series 2013-1 Noteholders hereby consents to the amendments made on the date hereof to the
Funding LP Partnership Agreement. 
 ARTICLE 3 

GENERAL 
 3.1 Effective Date 

The amendments set forth in this Amendment shall be effective as of the date hereof. 

3.2 Further Assurances 
 Each of the
parties hereto shall promptly do, make, execute or deliver, or cause to be done, made, executed or delivered, all such further acts, documents and things as any other party hereto may reasonably require from time to time for the purpose of giving
effect to this Amendment and shall use reasonable efforts and take all such steps as may be reasonably within its power to implement to their full extent the provisions of this Amendment. 

3.3 Enurement 
 This Amendment shall enure
to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns. 
 3.4 Counterparts 

This Amendment may be executed in counterparts, each of which shall be deemed to be an original and all of which taken together shall
constitute one and the same document. 
 [signature pages follow] 

  
 -21- 

 IN WITNESS WHEREOF the undersigned have executed this Amendment. 

 

					
	AVISCAR INC.
		
	By:	 	/s/ Rochelle Tarlowe
		 	Name:	 	Rochelle Tarlowe
		 	Title:	 	Vice President and Treasurer
	
	BUDGETCAR INC.
		
	By:	 	/s/ David B. Wyshner
		 	Name:	 	David B. Wyshner
		 	Title:	 	Executive Vice President, Chief Financial Officer and Treasurer
	
	PAYLESS CAR RENTAL CANADA INC.
		
	By:	 	/s/ Rochelle Tarlowe
		 	Name:	 	Rochelle Tarlowe
		 	Title:	 	Vice President and Treasurer
	
	ZIPCAR CANADA INC.
		
	By:	 	/s/ Rochelle Tarlowe
		 	Name:	 	Rochelle Tarlowe
		 	Title:	 	Vice President and Treasurer

 [Signatures Continue on Next Page] 

Signature Page to Sixth Global Amendment 

 
					
	WTH CAR RENTAL ULC
		
	By:	 	/s/ Rochelle Tarlowe
		 	Name:	 	Rochelle Tarlowe
		 	Title:	 	Vice President and Treasurer
	
	WTH FUNDING LIMITED PARTNERSHIP, in its own capacity and in its capacity as Administrator, by its General Partner, AVISCAR INC.
		
	By:	 	/s/ Rochelle Tarlowe
		 	Name:	 	Rochelle Tarlowe
		 	Title:	 	Vice President and Treasurer
	
	AVIS BUDGET CAR RENTAL, LLC
		
	By:	 	/s/ Rochelle Tarlowe
		 	Name:	 	Rochelle Tarlowe
		 	Title:	 	Vice President and Treasurer

 [Signatures Continue on Next Page] 

Signature Page to Sixth Global Amendment 

 
					
	BNY TRUST COMPANY OF CANADA, as Indenture Trustee and not in its individual capacity
		
	By:	 	/s/ J. Steven Broude
		 	Name:	 	J. Steven Broude
		 	Title:	 	Authorized Signatory

 [Signatures Continue on Next Page] 

Signature Page to Sixth Global Amendment 

 
					
	BNY TRUST COMPANY OF CANADA, as trustee of CANADIAN MASTER TRUST, by its Securitization Agent, BMO NESBITT BURNS INC.
		
	By:	 	/s/ Terry Ritchie
		 	Name:	 	Terry Ritchie
		 	Title:	 	Managing Director
		
	By:	 	/s/ Chris Romano
		 	Name:	 	Chris Romano
		 	Title:	 	Managing Director
	
	MONTREAL TRUST COMPANY OF CANADA, as trustee of BAY STREET FUNDING TRUST, by its Securitization Agent, SCOTIA CAPITAL INC.
		
	By:	 	/s/ Doug Noe
		 	Name:	 	Doug Noe
		 	Title:	 	Managing Director
		
	By:	 	/s/ Brad Shields
		 	Name:	 	Brad Shields
		 	Title:	 	Director
	
	CIBC MELLON TRUST COMPANY, in its capacity as trustee of PLAZA TRUST, by its Financial Services Agent, ROYAL BANK OF CANADA
		
	By:	 	/s/ Ian Benaiah
		 	Name:	 	Ian Benaiah
		 	Title:	 	Authorized Signatory
		
	By:	 	/s/ Hiren Lalloo
		 	Name:	 	Hiren Lalloo
		 	Title:	 	Authorized Signatory

 Signature Page to Sixth Global Amendment

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