Document:

EX-10.35

 

Exhibit 10.35

ASSIGNMENT AND ASSUMPTION AGREEMENT

          THIS ASSIGNMENT AND ASSUMPTION AGREEMENT, dated as of June 3, 2004 (as amended, supplemented
or otherwise modified from time to time, this “Agreement”), is among AVIS RENT A CAR
SYSTEM, INC., a Delaware corporation (“ARAC”), as lessee (in such capacity, the
“Lessee”) and as administrator (in such capacity, the “Administrator”), AVIS GROUP
HOLDINGS, INC., a Delaware corporation, as guarantor (in such capacity, the “Guarantor”
and, together with the Administrator and the Lessee, the “Assignors”), and CENDANT CAR
RENTAL GROUP, INC., a Delaware corporation, as assignee (the “Assignee”). All capitalized
terms used herein and not otherwise defined herein shall have the respective meanings provided
therefor in the Definitions List attached as Schedule I to the Amended and Restated Base Indenture,
dated as of July 30, 1997, as amended, between Cendant Rental Car Funding (AESOP) LLC (formerly
known as AESOP Funding II L.L.C.) (“CRCF”) and The Bank of New York (“BONY”), as
trustee (in such capacity, the “Trustee”).

WITNESSETH:

          WHEREAS, each Assignor wishes to assign all of its right, title and interest under each of the
agreements (excluding, in the case of ARAC, all of ARAC’s right, title and interest as Lessee (but
not as Administrator) under the Finance Lease) set forth on Schedule I hereto (such agreements,
collectively the “Assigned Agreements”) to which it is a party, to the Assignee; and

          WHEREAS, the Assignee wishes to assume all of the obligations and duties of each Assignor
under each Assigned Agreement;

          WHEREAS, pursuant to the terms of each of the Assigned Agreements, the relevant Assignor may
assign all of its right, title and interest under such Assigned Agreement to the Assignee in
accordance with the terms hereof;

          NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements
herein contained, and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:

          SECTION 1. Assignment. Each Assignor does hereby assign, transfer, convey and set
over unto the Assignee all of its respective rights, title and interests in, under and with respect
to each Assigned Agreement (excluding, in the case of ARAC, ARAC’s right, title and interest as
Lessee (but not as Administrator) under the Finance Lease) to which it is a party, effective as of
the earliest date (the “Restatement Effective Date”) by which each of the following has
occurred: (i) this Agreement is executed by each Assignor and the Assignee and consented to by CRCF
and the Trustee and (ii) the Rating Agency Consent Condition has been met with respect to this
Agreement;

          SECTION 2. Assumption. As of the Restatement Effective Date, the Assignee hereby
accepts the assignment set forth in Section 1 and assumes and agrees to be bound by all of the
obligations, acknowledgments, liabilities, duties and burdens of each Assignor under each

 

 

Assigned Agreement (excluding, in the case of ARAC, any and all obligations, acknowledgements,
liabilities, duties and burdens of ARAC, as Lessee (but not as Administrator) under the Finance
Lease) to which such Assignor is a party (such assumed obligations, liabilities, duties and burdens
under the Assigned Agreements, as the same may be amended, supplemented or otherwise modified from
time to time with the consent of the Assignee, being the “Transferred Obligations”). The
Assignee confirms that as of the Restatement Effective Date it shall be deemed to be a party to
each Assigned Agreement and shall perform the Transferred Obligations as if it were named as the
applicable Assignee therein.

          SECTION 3. Release of Each Assignor. On and as of the Restatement Effective Date,
each Assignor shall have no further obligation, liability, duty or burden in respect of Transferred
Obligations under the Assigned Agreements to which it is a party.

          SECTION 4. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK.

          SECTION 5. Amendments. This Agreement may not be terminated, amended, supplemented,
waived or modified orally, but only upon the prior written consent of each of the parties hereto.

          SECTION 6. Headings. The headings of the various sections of this Agreement are for
convenience of reference only and shall not modify, define, expand or limit any of the terms or
provisions hereof.

          SECTION 7. Counterparts. This Agreement may be executed by the parties hereto in
separate counterparts, each of which when so executed and delivered shall be an original, but all
such counterparts shall together constitute but one and the same instrument.

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          IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written.

	 	 	 	 	 
	 	AVIS RENT A CAR SYSTEM, INC.

 	 
	 	By:  	          /s/ Gerard J. Kennell
 	 
	 	 	Name:  	Gerard J. Kennell 	 
	 	 	Title:  	 	 
	 
	 	AVIS GROUP HOLDINGS, INC.

 	 
	 	By:  	          /s/ Gerard J. Kennell
 	 
	 	 	Name:  	Gerard J. Kennell 	 
	 	 	Title:  	 	 
	 
	 	CENDANT CAR RENTAL GROUP, INC.

 	 
	 	By:  	           /s/ Lynn Finkel
 	 
	 	 	Name:  	Lynn Finkel 	 
	 	 	Title:  	Vice President 	 
	 

 

 

Acknowledged and consented to by:

	 	 	 	 	 
	CENDANT RENTAL CAR FUNDING (AESOP) LLC	 	 
	 
	 	 	 	 
	By:

	 	     /s/ Lori Gebron	 	 
	 

	 	 	 	 
	 

	 	Name: Lori Gebron	 	 
	 

	 	Title: Vice President	 	 
	 
	 	 	 	 
	THE BANK OF NEW YORK	 	 
	 
	 	 	 	 
	By:

	 	     /s/ Mary L. Collier	 	 
	 

	 	 	 	 
	 

	 	Name: Mary L. Collier	 	 
	 

	 	Title: Agent	 	 
	 
	 	 	 	 
	AESOP LEASING L.P.	 	 
	 
	 	 	 	 
	By:

	 	     /s/ Orlando Figueroa	 	 
	 

	 	 	 	 
	 

	 	Name: Orlando Figueroa	 	 
	 

	 	Title: President	 	 
	 
	 	 	 	 
	AESOP LEASING CORP. II	 	 
	 
	 	 	 	 
	By:

	 	      /s/ Lori Gebron	 	 
	 

	 	 	 	 
	 

	 	Name: Lori Gebron	 	 
	 

	 	Title: Vice President	 	 
	 
	 	 	 	 
	AESOP LEASING CORP.	 	 
	 
	 	 	 	 
	By:

	 	     /s/ Orlando Figueroa	 	 
	 

	 	 	 	 
	 

	 	Name: Orlando Figueroa	 	 
	 

	 	Title: President	 	 
	 
	 	 	 	 
	PV HOLDING CORP.	 	 
	 
	 	 	 	 
	By:

	 	     /s/ Lori Gebron	 	 
	 

	 	 	 	 
	 

	 	Name: Lori Gebron	 	 
	 

	 	Title: Vice President	 	 
	 
	 	 	 	 
	QUARTX FLEET MANAGEMENT, INC.	 	 
	 
	 	 	 	 
	By:

	 	     /s/ Lori Gebron	 	 
	 

	 	 	 	 
	 

	 	Name: Lori Gebron	 	 
	 

	 	Title: Vice President	 	 

 

 

	 	 	 	 	 
	 
	 	 	 	 
	WIZCOM INTERNATIONAL, LTD.	 	 
	 
	 	 	 	 
	By:

	 	     /s/ Mark E. Costello	 	 
	 

	 	 	 	 
	 

	 	Name: Mark E. Costello	 	 
	 

	 	Title: Vice President and Assistant Secretary	 	 
	 
	 	 	 	 
	CENDANT CORPORATION, as successor in interest to HFS Incorporated	 	 
	 
	 	 	 	 
	By:

	 	     /s/ Lynn A. Feldman	 	 
	 

	 	 	 	 
	 

	 	Name: Lynn A. Feldman	 	 
	 

	 	Title: Vice President and Assistant Secretary	 	 
	 
	 	 	 	 
	RESERVE CLAIMS MANAGEMENT, INC.	 	 
	 
	 	 	 	 
	By:

	 	     /s/ Richard Meisner	 	 
	 

	 	 	 	 
	 

	 	Name: Richard Meisner	 	 
	 

	 	Title: Vice President and Secretary	 	 
	 
	 	 	 	 
	WIZARD CO., INC.	 	 
	 
	 	 	 	 
	By:

	 	     /s/ Kimberly W. Vukanovich	 	 
	 

	 	 	 	 
	 

	 	Name: Kimberly W. Vukanovich	 	 
	 

	 	Title: Vice President and Controller	 	 
	 
	 	 	 	 
	JPMORGAN CHASE BANK	 	 
	 
	 	 	 	 
	By:

	 	     /s/ Lara Graff	 	 
	 

	 	 	 	 
	 

	 	Name: Lara Graff	 	 
	 

	 	Title: Vice President	 	 
	 
	 	 	 	 
	AVIS CAR RENTAL GROUP, INC.	 	 
	 
	 	 	 	 
	By:

	 	     /s/ Karen C. Sclafani	 	 
	 

	 	 	 	 
	 

	 	Name: Karen C. Sclafani	 	 
	 

	 	Title: Senior Vice President, General Counsel and Secretary	 	 

 

 

SCHEDULE I

The Assigned Agreements

The following documents shall be the “Assigned Agreements”:

          1. Master Motor Vehicle Finance Lease Agreement (the “Finance Lease”), dated as of
July 30, 1997, among AESOP Leasing L.P. (“AESOP Leasing”) as lessor, Avis Rent A Car
System, Inc. (“ARAC”), as lessee and as administrator, and AGH, as guarantor;

          2. Amended and Restated Master Motor Vehicle Operating Lease Agreement, dated as of September
15, 1998, among AESOP Leasing, as lessor, ARAC, as lessee and as administrator, and AGH, as
guarantor, as amended by the first amendment thereto, dated as of November 22, 2002;

          3. Master Motor Vehicle Operating Lease Agreement, dated as of July 30, 1997, among AESOP
Leasing Corp. II (“AESOP Leasing II”), as lessor, ARAC, as lessee and as administrator, and
AGH, as guarantor, as amended by the first amendment thereto, dated as of November 22, 2002;

          4. Amended and Restated Administration Agreement, dated as of September 15, 1998, among
Cendant Rental Car Funding (AESOP) LLC (formerly known as AESOP Funding II L.L.C.), AESOP Leasing,
AESOP Leasing II, ARAC, as administrator, and The Bank of New York, as successor in interest to the
corporate trust administration of Harris Trust and Savings Bank (“BONY”);

          5. Vehicle Title Nominee Agreement, dated as of July 30, 1997, among Quartx Fleet Management,
Inc. (“Quartx”), ARAC, AGH and AESOP Leasing;

          6. Vehicle Title Nominee Agreement, dated as of July 30, 1997, among AESOP Leasing Corp.
(“Original AESOP”), ARAC, AGH and AESOP Leasing II;

          7. Vehicle Lienholder Nominee Agreement, dated as of July 30, 1997, among ARAC, AGH, AESOP
Leasing and BONY, as vehicle lienholder nominee and as trustee;

          8. Reservation Services Agreement, dated as of July 30, 1997, between HFS Incorporated
(“HFS”) and ARAC;

          9. Wizard Note Assumption and Release Agreement, dated as of July 30, 1997, among Wizard Co.,
Inc. (“Wizard”), ARAC and Reserve Claims Management Co.;

          10. Computer Services Agreement, dated as of July 30, 1997, among ARAC and WizCom
International, Ltd. (“Wizcom”);

          11. Termination Services Agreement, dated as of July 30, 1997, among BONY, CRCF, ARAC and
WizCom;

          12. Supplemental Agreement, dated as of July 30, 1997, among JPMorgan Chase Bank (formerly
known as The Chase Manhattan Bank), as administrative agent, BONY, as trustee, CRCF, HFS, HFS Car
Rental, Inc., Wizard and WizCom.

 

 

          13. Series 2001-2 Sales Agency Agreement, dated as of May 16 , 2001, among CRCF, AGH, ARAC,
Lehman Brothers Inc. and Citigroup Global Markets Inc. (formerly known as Salomon Smith Barney Inc.
(together, the “Placement Agents”).

          14. Series 2001-2 Distribution Agreement, dated as of May 17, 2001, between CRCF, ARAC, AGH
and the Placement Agents.

          15. Amended and Restated Series 2002-2 Supplement, dated as of November 22, 2002, as amended,
among CRCF, as issuer, ARAC, as Administrator, JPMorgan Chase Bank, as administrative agent, the
several commercial paper conduits listed on Schedule I thereto (each a “CP Conduit
Purchaser”), the several banks set forth opposite the name of each CP Conduit Purchaser on
Schedule I thereto, the several agent banks set forth opposite the name of each CP Conduit
Purchaser on Schedule I thereto, BONY, as trustee and as Series 2002-2 Agent, to the Amended and
Restated Base Indenture, dated as of July 30, 1997, as amended, between CRCF and BONY, as trustee
(as amended, modified or supplemented from time to time, exclusive of Supplements creating a new
Series of Notes, the “Base Indenture”).

          16. Series 2002-3 Supplement, dated as of September 12, 2003, as amended, CRCF, as issuer,
ARAC, as administrator, Delaware Funding Corporation, as commercial paper purchaser and assignee of
Park Avenue Receivables Corporation (the “CP Conduit Purchaser”), JPMorgan Chase Bank, as a
funding agent on behalf of the CP Conduit Purchaser and as the APA Bank for the CP Conduit
Purchaser and BONY, as trustee and as series 2002-3 agent

          17. Series 2003-1 Supplement, dated as of January 28, 2003 to the Base Indenture, among CRCF,
as issuer, ARAC, as administrator, Cendant Corporation as purchaser and BONY, as trustee and Series
2003-1 Agent.

          18. Series 2004-1 Supplement, dated as of January 20, 2004, to the Base Indenture, among CRCF,
as issuer, ARAC, as Administrator, Mizuho Corporate Bank, Ltd., as administrative agent, Bayerische
Landesbank New York Branch, in its capacity as syndication Agent for the purchasers, certain
financial institutions named therein, as purchasers, BONY, as trustee and as series 2004-1 agent.

          19. Vehicle Lien Nominee Agreement, dated as of November 22, 2002, among Ford Motor Credit
Company (“FMCC”), AESOP Leasing, the Trustee and ARAC.

          20. Agreement and Acknowledgment of ARAC, dated as of November 22, 2002, between ARAC and
FMCC.EX-10.36.B:

 

Exhibit 10.36(b)

FOURTH AMENDMENT TO THE AMENDED AND RESTATED

SERIES 2000-2 SUPPLEMENT

          This FOURTH AMENDMENT TO THE AMENDED AND RESTATED SERIES 2000-2 SUPPLEMENT (this
“Amendment”), dated as of December 23, 2005, amends the Amended and Restated Series 2000-2
Supplement (the “Series 2000-2 Supplement”), dated as of June 29, 2001, as amended by the
First Amendment thereto, dated as of February 18, 2002, the Second Amendment thereto, dated as of
November 22, 2002 and the Third Amendment thereto, dated as of June 3, 2004, and is between CENDANT
RENTAL CAR FUNDING (AESOP) LLC (formerly known as AESOP Funding II L.L.C.), a special purpose
limited liability company established under the laws of Delaware (“CRCF”), THE BANK OF NEW
YORK, a New York banking corporation, as trustee (in such capacity, the “Trustee”) and as
agent for the benefit of the Series 2000-2 Noteholders and the Surety Provider (in such capacity,
the “Series 2000-2 Agent”), to the Second Amended and Restated Base Indenture, dated as of
June 3, 2004, between CRCF and the Trustee (as amended, modified or supplemented from time to time,
exclusive of Supplements creating a new Series of Notes, the “Base Indenture”). All
capitalized terms used herein and not otherwise defined herein shall have the respective meanings
provided therefor in the Definitions List attached as Schedule I to the Base Indenture (as amended
through the date hereof) or the Series 2000-2 Supplement, as applicable.

W
I T N E S S E T
H:

          WHEREAS, pursuant to Section 12.2(i) of the Base Indenture, an amendment to any Supplement
which amends the applicable amount of Enhancement requires the consent of CRCF, the Trustee and
each affected Noteholder of the applicable Series of Notes;

          WHEREAS, pursuant to Section 6.11 of the Series 2000-2 Supplement, the Surety Provider is
deemed to be the sole holder of the Series 2000-2 Notes for the purpose of giving all consents,
waivers and approvals under the Series 2000-2 Supplement and the Base Indenture on behalf of the
Series 2000-2 Notes;

          WHEREAS, the parties desire to amend the Series 2000-2 Supplement (1) to increase the Series
2000-2 Required Enhancement Percentage when an Event of Bankruptcy has occurred with respect to a
Manufacturer of Program Vehicles, (2) to modify certain Series 2000-2 Maximum Manufacturer Amounts
and (3) to make conforming changes; and

          WHEREAS, CRCF has requested the Trustee, the Series 2000-2 Agent and each Noteholder to, and,
upon this Amendment becoming effective, CRCF, the Trustee, the Series 2000-2 Agent and the Surety
Provider voting as the sole Noteholder have agreed to, amend certain provisions of the Series
2000-2 Supplement as set forth herein;

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          NOW, THEREFORE, it is agreed:

          1. Article I(b) of the Series 2000-2 Supplement is hereby amended to include the following
definitions in appropriate alphabetical order:

     “Series 2000-2 Bankrupt Manufacturer Vehicle Percentage” means, as of any date
of determination, a fraction, expressed as a percentage, (i) the numerator of which is the
aggregate Net Book Value of all Program Vehicles manufactured by a Bankrupt Manufacturer and
leased under the AESOP I Operating Lease as of such date and (ii) the denominator of which
is the aggregate Net Book Value of all Vehicles leased under the AESOP I Operating Lease as
of such date; provided that, solely for the purposes of clause (i) of this
definition, if a Bankrupt Manufacturer is the debtor in Chapter 11 Proceedings, until the
thirtieth (30th) calendar day following commencement of such Chapter 11 Proceedings, the Net
Book Value of all Program Vehicles Manufactured by such Bankrupt Manufacturer shall be
deemed to be zero.

     “Series 2000-2 Required Incremental Bankrupt Manufacturer Rate” means (i) as of
any date following the occurrence of an Event of Bankruptcy with respect to a Manufacturer
of Program Vehicles, the excess of (A) the Series 2000-2 Required Non-Program Enhancement
Percentage as of such date over (B) 11.0% and (ii) as of any other date of determination,
zero.

          2. Each of the following defined terms, as set forth in Article I(b) of the Series 2000-2
Supplement, is hereby amended and restated in its entirety as follows:

     “Series 2000-2 Maximum Aggregate Kia/Isuzu/Subaru/Hyundai/Suzuki Amount” means,
as of any day, with respect to Kia, Isuzu, Subaru, Hyundai and Suzuki, in the aggregate, an
amount equal to 20% of the aggregate Net Book Value of all Vehicles leased under the Leases
on such day.

     “Series 2000-2 Maximum Non-Program Vehicle Percentage” means, as of any date of
determination, 40%; provided that the Series 2000-2 Maximum Non-Program Vehicle
Percentage as of any date of determination shall be increased by a fraction, expressed as a
percentage, the numerator of which is the aggregate Net Book Value of all Redesignated
Vehicles manufactured by each Bankrupt Manufacturer and each other Manufacturer with respect
to which a Manufacturer Event of Default has occurred and leased as of such date under the
AESOP I Operating Lease or the Finance Lease as of such date and the denominator of which is
the aggregate Net Book Value of all Vehicles leased under the Leases as of such date.

     “Series 2000-2 Maximum Manufacturer Amount” means, as of any day, any of the
Series 2000-2 Maximum Mitsubishi Amount, the Series 2000-2 Maximum Individual
Kia/Isuzu/Subaru Amount, the Series 2000-2 Maximum Individual Hyundai/Suzuki Amount or the
Series 2000-2 Maximum Aggregate Kia/Isuzu/Subaru/Hyundai/Suzuki Amount.

     “Series 2000-2 Required Enhancement Amount” means, as of any date of
determination, the sum of (i) the product of the Series 2000-2 Required Enhancement

- 2 -

 

Percentage as of such date and the Series 2000-2 Invested Amount as of such date, (ii)
the Series 2000-2 Percentage of the excess, if any, of the Non-Program Vehicle Amount as of
such date over the Series 2000-2 Maximum Non-Program Vehicle Amount as of such date, (iii)
the Series 2000-2 Percentage of the excess, if any, of the aggregate Net Book Value of all
Vehicles manufactured by Mitsubishi and leased under the Leases as of such date over the
Series 2000-2 Maximum Mitsubishi Amount as of such date, (iv) the Series 2000-2 Percentage
of the excess, if any, of the aggregate Net Book Value of all Vehicles manufactured by Kia,
Isuzu or Subaru, individually, and leased under the Leases as of such date over the Series
2000-2 Maximum Individual Kia/Isuzu/Subaru Amount as of such date, (v) the Series 2000-2
Percentage of the excess, if any, of the aggregate Net Book Value of all Vehicles
manufactured by Hyundai or Suzuki, individually, and leased under the Leases as of such date
over the Series 2000-2 Maximum Individual Hyundai/Suzuki Amount as of such date, (vi) the
Series 2000-2 Percentage of the excess, if any, of the aggregate Net Book Value of all
Vehicles manufactured by Kia, Isuzu, Subaru, Hyundai or Suzuki, in the aggregate, and leased
under the Leases as of such date over the Series 2000-2 Maximum Aggregate
Kia/Isuzu/Subaru/Hyundai/Suzuki Amount as of such date, (vii) the Series 2000-2 Percentage
of the excess, if any, of the Specified States Amount as of such date over the Series 2000-2
Maximum Specified States Amount as of such date, (viii) the Series 2000-2 Percentage of the
excess, if any, of the Non-Eligible Manufacturer Amount as of such date over the Series
2000-2 Maximum Non-Eligible Manufacturer Amount as of such date and (ix) the Series 2000-2
Percentage of any Aggregate Adjustment Amount.

     “Series 2000-2 Required Enhancement Percentage” means, as of any date of
determination, the sum of (i) the product of (A) 11.0% and (B) the Series 2000-2 Program
Vehicle Percentage as of such date, (ii) the product of (A) the Series 2000-2 Required
Non-Program Enhancement Percentage as of such date and (B) the Series 2000-2 Non-Program
Vehicle Percentage as of such date, and (iii) the product of (A) the Series 2000-2 Required
Incremental Bankrupt Manufacturer Rate as of such date and (B) the Series 2000-2 Bankrupt
Manufacturer Vehicle Percentage as of such date.

          3. Article I(b) of the Series 2000-2 Supplement is hereby amended by deleting the definition
“Series 2000-2 Maximum Individual Kia/Isuzu/Subaru/Hyundai/Suzuki Amount” and inserting the
following definitions in appropriate alphabetical order:

     “Series 2000-2 Maximum Individual Kia/Isuzu/Subaru Amount” means, as of any
day, with respect to Kia, Isuzu or Subaru, individually, an amount equal to 5% of the
aggregate Net Book Value of all Vehicles leased under the Leases on such day.

     “Series 2000-2 Maximum Individual Hyundai/Suzuki Amount” means, as of any day,
with respect to Hyundai or Suzuki, individually, an amount equal to 7.5% of the aggregate
Net Book Value of all Vehicles leased under the Leases on such day.

          4. This Amendment is limited as specified and, except as expressly stated herein, shall not
constitute a modification, acceptance or waiver of any other provision of the Series 2000-2
Supplement.

-3-

 

          5. This Amendment shall become effective as of the date (the “Amendment Effective
Date”) on which each of the following have occurred: (i) each of the parties hereto shall have
executed and delivered this Amendment to the Trustee, (ii) the Rating Agency Consent Condition
shall have been satisfied with respect to this Amendment, (iii) all certificates and opinions of
counsel required under the Base Indenture shall have been delivered to the Trustee and (iv) the
Surety Provider, as the Requisite Noteholders, shall have consented hereto.

          6. From and after the Amendment Effective Date, all references to the Series 2000-2 Supplement
shall be deemed to be references to the Series 2000-2 Supplement as amended hereby.

          7. This Amendment may be executed in separate counterparts by the parties hereto, each of
which when so executed and delivered shall be an original but all of which shall together
constitute one and the same instrument.

          8. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED
IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

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

	 	 	 	 	 
	 	CENDANT RENTAL CAR FUNDING 
(AESOP) LLC, as Issuer

 	 
	 	By:  	/s/ Lori Gebron
 	 
	 	 	Name:  	Lori Gebron 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	THE BANK OF NEW YORK, as Trustee and 
Series 2000-2 Agent

 	 
	 	By:  	/s/ John Bobko
 	 
	 	 	Name:  	John Bobko 	 
	 	 	Title:  	Vice President

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