Document:

EX-10.85(e)

 Exhibit 10.85(e) 

AMENDMENT NO. 5 
 TO SERIES 2012-1 SUPPLEMENT 
 This AMENDMENT NO. 5 TO SERIES 2012-1
SUPPLEMENT, dated as of November 30, 2012 (this “Amendment”), is between Centre Point Funding, LLC (“CPF”), as Issuer, Budget Truck Rental LLC, as Administrator, Deutsche Bank
Securities Inc., as Administrative Agent, Deutsche Bank Trust Company Americas, as a Non-Conduit Purchaser, Thames Asset Global Securitization No. 1 Inc., as a CP Conduit Purchaser, The Royal Bank of Scotland plc, as a Funding Agent and an APA
Bank, and the Bank of New York Mellon Trust Company, N.A. (“BNYMTC”), in its capacities as Trustee (in such capacity, the “Trustee”), Series 2012-1 Agent and Securities Intermediary. 

RECITALS: 

WHEREAS, CPF and the Trustee entered into that certain Amended and Restated Base Indenture, dated as of March 9, 2010
(as the same may be amended, modified, supplemented or amended and restated in accordance with its terms, the “Base Indenture”); 
 WHEREAS, the parties hereto entered into that certain Series 2012-1 Supplement to the Base Indenture, dated as of March 14, 2012, (the “Series Supplement”); 

WHEREAS, pursuant to Section 12.11 of the Series Supplement, the Series Supplement may be modified or amended in accordance
with the requirements of Section 12.1 of the Base Indenture subject to the consent of the Series 2012-1 Required Noteholders; 
 WHEREAS, pursuant to Section 12.1 of the Base Indenture, the provisions of the Series Supplement may be amended, modified or waived, if such amendment, modification or waiver is in
writing and consented to by CPF, the Trustee and, in respect of any amendment, modification or waiver to the Series Supplement which affects only the Series 2012-1 Notes and does not affect the Noteholders of any other Series of Notes, as
substantiated by an Officer’s Certificate, the Series 2012-1 Required Noteholders; 
 WHEREAS, Windmill
Funding Corporation assigned its Purchaser Group Invested Amount and its rights and obligations under the Series Supplement and the other Series 2012-1 Related Documents to Thames Asset Global Securitization No. 1 Inc. on November 19, 2012
in accordance with Section 12.1(b) of the Series Supplement; 
 WHEREAS, the Series 2012-1 Noteholders party
hereto constitute the Series 2012-1 Required Noteholders; and 
 WHEREAS, this Amendment has been duly authorized
by all necessary limited liability company action on the part of CPF. 

 NOW, THEREFORE, in consideration of the premises and the agreements,
provisions and covenants herein contained, the parties hereto agree as follows: 
 ARTICLE I. 

Definitions 
 Section 1.1. Terms Defined in Series Supplement or Base Indenture. Capitalized terms used in this Amendment not herein defined shall have the meaning contained in the Series Supplement
and, if not defined therein, in the Definitions List attached to the Base Indenture as Annex 1 or as otherwise set forth in the Base Indenture. 
 ARTICLE II. 
 Amendments 

Section 2.1. Amendment to Section 5.12(a). Section 5.12(a) of the Series Supplement is hereby amended and
restated in its entirety as follows: 
 “(a) On the Series 2012-1 Closing Date, CPF shall enter into an
interest rate cap agreement (the “Series 2012-1 Closing Date Hedge”) with a Qualified Interest Rate Hedge Counterparty, having an aggregate notional amount at least equal to $70,100,000, a strike rate of 4.00%, a term of at least
until the earlier of (x) the Series 2012-1Termination Date and (y) the date that the Series 2012-1 Notes are rated by a Rating Agency and that is otherwise in form and substance acceptable to each Funding Agent and each Non-Conduit
Purchaser. On or prior to the date that the Series 2012-1 Notes are rated by a Rating Agency, CPF shall enter into one or more interest rate cap agreements (each such interest rate cap agreement a “Series 2012-1 Permanent Interest Rate
Hedge” and each Series 2012-1 Permanent Interest Rate Hedge and the Series 2012-1 Closing Date Hedge a “Series 2012-1 Interest Rate Hedge”) with a Qualified Interest Rate Hedge Counterparty, having an aggregate notional
amount at least equal to the Series 2012-1 Invested Amount on such date, a strike rate of 3.00%, a term of at least until the Series 2012-1 Termination Date and that are otherwise in form and substance acceptable to each Funding Agent and each
Non-Conduit Purchaser; provided, however, that any Series 2012-1 Permanent Interest Rate Hedge that complies with each Rating Agency’s then current published criteria shall be deemed to be in form and substance acceptable to each
Funding Agent and each Non-Conduit Purchaser.” 
 Section 2.2 Amendment to Section 3.6(d).
Section 3.6(d) of the Series 2012-1 Supplement is hereby amended by adding the text “average daily” immediately prior to the text “Maximum Purchaser Group Invested Amount” therein.” 

Section 2.3. Amendment to Article III. Article III of the Series 2012-1 Supplement is hereby further amended by adding
the following as a new Section 3.11: 
 “Section 3.11 Reductions of the Commitments. On any
Business Day during the Series 2012-1 Revolving Period, CPF may, upon two (2) Business Days’ prior written notice to the Administrative Agent (effective upon receipt) (with copies to the Administrator and the Trustee) reduce the Series
2012-1 

  
 2 

 
Maximum Invested Amount in an amount equal to $5,000,000 or a whole multiple of $250,000 in excess thereof; provided that no such termination or reduction shall be permitted if, after
giving effect thereto and to any reduction in the Series 2012-1 Invested Amount on such date, the Purchaser Group Invested Amount with respect to any Purchaser Group would exceed the Maximum Purchaser Group Invested Amount with respect to such
Purchaser Group then in effect. Any reduction in the Series 2012-1 Maximum Invested Amount shall be made on a pro rata basis to the Maximum Purchaser Group Invested Amounts with respect to the Purchaser Groups, based on the Maximum Purchaser
Group Invested Amount with respect to each Purchaser Group. Once reduced, the Maximum Purchaser Group Invested Amounts may not be subsequently reinstated without each such Purchaser Group’s prior written consent, which consent shall be granted
or not in the sole discretion of such Purchaser Group.” 
 Section 2.4. Amendment to Definition of “Fee
Letter”. The definition of “Fee Letter” in the Series Supplement is hereby amended by deleting the text “means the second amended and restated letter dated as of October 31, 2012” and replacing such text with
“means the fourth amended and restated letter dated as of November 30, 2012.” 
 Section 2.5.
Amendment of Schedule I. Schedule I of the Series 2012-1 Supplement is hereby deleted in its entirety and substituted with Schedule I, as it appears in Schedule A hereto. 

ARTICLE III. 
 Miscellaneous 
 Section 3.1. Effectiveness of
Amendment. This Amendment shall become effective on the first date that the Trustee has received an Officer’s Certificate of CPF stating that this Amendment affects only the Series 2012-1 Notes and does not affect the Noteholders of any
other Series of Notes. 
 Section 3.2. Effect of Amendment. Except as expressly set forth herein, this
Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of any of the parties hereto under the Series Supplement, nor alter, modify, amend or in any way affect any of the
terms, conditions, obligations, covenants or agreements contained in the Series Supplement, all of which are hereby ratified and affirmed in all respects by each of the parties hereto and shall continue in full force and effect. This Amendment shall
apply and be effective only with respect to the provisions of the Series Supplement specifically referred to herein, and any references in the Base Indenture to the provisions of the Series Supplement specifically referred to herein shall be to such
provisions as amended by this Amendment. 
 Section 3.3. Waiver of Amortization Event With Respect Series 2012-1
Interest Rate Hedges. The Series 2012-1 Noteholders, by executing this Amendment, hereby (a) waive any Amortization Event occurring as a result of CPF’s failure to maintain Series 2012-1 Interest Rate Hedges in accordance with
Sections 5.12(a) and (b) of the Series Supplement on any date prior to the effectiveness of this Amendment and (b) agree not to declare the occurrence of a Series 2012-1 Limited Liquidation Event arising therefrom and agree that the Series
2012-1 Rapid Amortization Period shall not have commenced. 

  
 3 

 Section 3.4. Waiver of Notice. Each of the parties hereto waives any
prior notice and any notice period that may be required by any other agreement or document in connection with the execution of this Amendment. 
 Section 3.5. Binding Effect. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 

Section 3.6. Governing Law. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
(WITHOUT GIVING EFFECT TO THE PROVISIONS THEREOF REGARDING CONFLICTS OF LAWS), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HERETO SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

Section 3.7. Counterparts. This Amendment may be executed in any number of counterparts and by different parties
herein in separate counterparts, each of which when executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement. 

Section 3.8. Direction to BNYMTC. By their respective signatures hereto, the Series 2012-1 Noteholders signatory
hereto hereby authorize, instruct and direct BNYMTC in its various capacities hereunder to executive and deliver this Amendment. 

[SIGNATURE PAGES FOLLOW] 

  
 4 

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

					
	CENTRE POINT FUNDING, LLC, as Issuer
		
	By:	 	/s/ Joseph A. Ferraro
		 	 Name:

Title:
	 	 Joseph A. Ferraro
 Senior
Vice President, Operations

  

					
	BUDGET TRUCK RENTAL LLC, as Administrator
		
	By:	 	/s/ Joseph A. Ferraro
		 	 Name:

Title:
	 	 Joseph A. Ferraro
 Senior
Vice President, Operations

  
 [Signature
Page to Amendment No. 5 to Series 2012-1 Supplement] 

 
					
	DEUTSCHE BANK SECURITIES INC., as Administrative Agent
		
	By:	 	/s/ Casey Rust
		 	 Name:

Title:
	 	 Casey Rust
 Vice
President

 
					
		
	By:	 	/s/ Billy Strobel
		 	 Name:

Title:
	 	 Billy Strobel
 Vice
President

  

					
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as a Non-Conduit Purchaser
		
	By:	 	/s/ Casey Rust
		 	 Name:

Title:
	 	 Casey Rust
 Vice
President

 
					
		
	By:	 	/s/ Ian Salters
		 	 Name:

Title:
	 	 Ian Salters

Director

  
 [Signature
Page to Amendment No. 5 to Series 2012-1 Supplement] 

 
					
	THAMES ASSET GLOBAL SECURITIZATION NO. 1 INC., as a CP Conduit Purchaser
		
	By:	 	/s/ David V. Angelis
		 	 Name:

Title:
	 	 David V. DeAngelis
 Vice
President

  

					
	THE ROYAL BANK OF SCOTLAND PLC, as a Funding Agent
		
	By:	 	RBS Securities Inc., as agent

 
					
		
	By:	 	/s/ David J. Donofrio
		 	 Name:

Title:
	 	 David J. Donofrio

Director

  

					
	THE ROYAL BANK OF SCOTLAND PLC, as an APA Bank
		
	By:	 	RBS Securities Inc., as agent

 
					
		
	By:	 	/s/ David J. Donofrio
		 	 Name:

Title:
	 	 David J. Donofrio

Director

  
 [Signature
Page to Amendment No. 5 to Series 2012-1 Supplement] 

 
					
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., not in its individual capacity, but solely as Trustee, as Series 2012-1 Agent and as Securities
Intermediary
		
	By:	 	/s/ David H. Hill
		 	 Name:

Title:
	 	 David H. Hill

President

  
 [Signature
Page to Amendment No. 5 to Series 2012-1 Supplement] 

					
	 ACKNOWLEDGED BY:

 

	AVIS BUDGET CAR RENTAL, LLC, in its individual capacity
		
	By:	 	/s/ Rochelle Tarlowe
		 	 Name:

Title:
	 	 Rochelle Tarlowe
 Vice
President and Treasurer

  
 [Signature
Page to Amendment No. 5 to Series 2012-1 Supplement] 

 Schedule A to Amendment No. 5 
 SCHEDULE I TO SERIES 2012-1 SUPPLEMENT 
 CP Conduit Purchasers 

 

									
	 CP Conduit
	  	 APA Banks
	  	 Funding Agent
	  	 APA Bank Percentage
	  	 Maximum
Purchaser Group
Invested Amount

	Thames Asset Global Securitization No. 1 Inc.	  	Royal Bank of Scotland plc	  	Royal Bank of Scotland plc	  	100%	  	$35,000,000

 Non-Conduit Purchasers 
  

			
	 Non-Conduit Purchaser
	  	 Maximum Purchaser Group
Invested Amount

	Deutsche Bank Trust Company Americas	  	$35,000,000

  
 [Signature
Page to Amendment No. 5 to Series 2012-1 Supplement]EX-10.89(d)

 Exhibit 10.89(d) 

EXECUTION VERSION 
 Facility Agreement Amendment Letter 
 Avis Finance Company Limited

 Avis House, Park Road, Bracknell, Berkshire RG12 2EW, United Kingdom 

Registration number: 02123807 
 5 November 2012 
 Dear Sirs 
 We refer to the Facility Agreement originally dated 20 October 2011 as amended and restated on 5 December 2011, as amended by a letter dated 8 February 2012 and as amended and restated on
18 May 2012 between Avis Finance Company Limited (“Finco”) and Avis Budget Italia S.p.A. (“Italian Opco”) as borrowers (the “Borrowers”) and Avis Budget Car Rental, LLC (the
“Parent”), Avis Budget EMEA Limited (“Avis Europe”), Avis Alquile un Coche S.A. (“Spanish Opco”) and Avis Budget Autovermietung GmbH & Co. KG (“German Opco”) (Finco,
Italian Opco, the Parent, Avis Europe, Spanish Opco and German Opco together, the “Obligors”), the Mandated Lead Arranger, the Lender named in it, the security trustee (the “Security Trustee”) and the facility agent
(the “Facility Agent”) (the “Facility Agreement”). 
  

	1	Interpretation 

 Unless
otherwise defined herein or the context otherwise requires, terms defined in the Facility Agreement have the same meaning in this Letter. A reference to a “paragraph” is a reference to a paragraph of this Letter. A reference to
“Parties” is a reference to the Co-ordinated, the Obligors, the Mandated Lead Arranger, the Security Agent, the Facility Agent and each of the Lenders under the Facility Agreement. 

 

	2	Amendments to the Facility Agreement 

 The Co-ordinator, acting as agent for the Obligors pursuant to Clause 6 (Co-ordinator) of the Facility Agreement hereby requests that the Mandated Lead Arranger, the Lenders, the Facility Agent and
the Security Agent agree to the following amendments to the Facility Agreement: 
  

	2.1	Amendment to the definition of “Final Maturity Date” 

 The Parties agree that the definition of “Final Maturity Date” in Clause 1.1 (Definitions) of the Facility Agreement shall be deleted in its entirety and replaced by: 

““Final Maturity Date” means the Settlement Date falling in March 2014;”. 

 

	2.2	Amendment to the definition of “Availability Period” 

 The Parties agree that the definition of “Availability Period” in Clause 1.1 (Definitions) of the Facility Agreement shall be deleted in its entirety and replaced by: 

““Availability Period” means the period from and including the date of this Agreement to and including the
Settlement Date falling in October 2013;”. 

 EXECUTION VERSION 
  

	2.3	Amendment to the definition of “Borrower Asset Value” 

 The Parties agree that the definition of “Borrower Asset Value” shall be amended with the addition of a fourth proviso as a new paragraph after paragraph (C) as follows: 

“D. Vehicles and Eligible Receivables acquired by any Ultimate Borrower on or after 30 September 2013 shall be excluded
from the calculation of the Borrower Asset Value of that Ultimate Borrower.”. 
  

	2.4	Amendment to the definition of “Concentration Limits” 

 The Parties agree that the definition of “Concentration Limits” shall be amended by the addition of another proviso after the words “(ii) 15 per cent. of the Vehicle Fleet, where the
relevant Vehicle Manufacturer Group is the Ford Group the limit shall be 15 per cent. of the Vehicle Fleet”: 

“, and 

provided further that Vehicles acquired by any Ultimate Borrower on or after 30 September 2013 shall be excluded for the purposes of
determining the Concentration Limits.”. 
  

	2.5	Amendment to the definition of “Term” 

 The Parties agree that the definition of “Term” shall be deleted in its entirety and replaced by: 
 ““Term” means, save as otherwise provided herein, in relation to an Advance, a period beginning on the Utilisation Date for such Advance and ending on: 

 

	 	(a)	in the case of a Revolving Advance made: 

  

	 	(i)	in the period up to and including the Settlement Date in September 2013, the first Settlement Date to occur following the Utilisation Date relating to such Revolving
Advance; and 

  

	 	(ii)	in the period after the Settlement Date in September 2013, the Final Maturity Date; and 

 

	 	(b)	in the case of a Swingline Advance, the first Settlement Date to occur following the Utilisation Date relating to such Swingline Advance;”.

  

	2.6	Amendment to Clause 10.2 (Repayment of Advances) 

The Parties agree that Clause 10.2 (Repayment of Advances) shall be amended as follows: 

 

	 	2.6.1	Clause 10.2(a) shall be deleted in its entirety and replaced by: 

  

	 	“(a)	Each Borrower which has drawn a Revolving Advance: 

  

	 	(i)	before the Settlement Date falling in October 2013 shall repay that Advance on the Repayment Date relating to that Advance; and 

 

	 	(iii)	on or after the Settlement Date falling in October 2013 shall, subject to Clause 10.2(c) below, repay that Advance on or before the Final Maturity Date.”; and

  

 EXECUTION VERSION 
  

	 	2.6.2	A new clause shall be inserted in Clause 10.2 (Repayment of Advances) after Clause 10.2(b) as follows: 

 

	 	“(c)	Repayments on and after October 2013 

 In respect of any Revolving Advances outstanding on and after the Settlement Date falling in October 2013, each Borrower shall use all proceeds of (x) the sale or disposal of Vehicles and
(y) Realised Vehicle Receivables to repay such Revolving Advances, provided that such Revolving Advances shall be repaid at least on each Settlement Date in an amount (subject to a minimum of zero) equal to the aggregate of (without double
counting) the amount by which: 
  

	 	A.	the Borrower Asset Value as at the Calculation Date immediately preceding the Most Recent Calculation Date, 

exceeds 
  

	 	B.	the Borrower Asset Value as at the Most Recent Calculation Date, 

where: 
  

	 	(ii)	“Most Recent Calculation Date” means the Calculation Date immediately preceding such Settlement Date; and 

 

	 	(iii)	“Realised Vehicle Receivables” means; 

  

	 	(a)	all VAT repayments made by the relevant taxation authority to such Borrower on or after 30 September 2013; 

 

	 	(b)	all amounts (excluding amounts in respect of VAT) paid by any Vehicle Dealer to such Borrower on or after 30 September 2013 pursuant to the disposition by such
Borrower of any Vehicle under any Vehicle Dealer Buy-Back Agreement; and 

  

	 	(c)	all amounts (excluding amounts in respect of VAT and volume bonuses) paid by any Vehicle Manufacturer to such Borrower on or after 30 September 2013 pursuant to
the disposition by such Borrower of any Vehicle under any Vehicle Manufacturer Buy-Back Agreement and under any Vehicle Manufacturer Guarantee, and 

 provided further that the aggregate amount of principal of all Advances repaid by all relevant Borrowers under this Clause 10.2(c) on each such Settlement Date shall not be less than the difference
between (i) the Total Asset Value as at the Calculation Date immediately preceding the Most Recent Calculation Date and (ii) the Total Asset Value as at the Most Recent Calculation Date. 

No payments shall be made to Finco under the Finco Subordinated Loan Agreement by any borrower thereto and no payments shall be made to
any Intercompany Lender (as defined in the Subordination Agreement and the ABCR Subordination Agreement) under the Subordinated Documents (as defined in the Subordination Agreement and the ABCR Subordination Agreement), in each case, on or after
October 2013, until the Facility Agent is satisfied that all indebtedness of all Obligors under or in connection with all Senior Finance Documents have been fully and irrevocably paid or discharged. 

  

 EXECUTION VERSION 
  

	 	2.6.3	A new clause shall be inserted in Clause 10.2 (Repayment of Advances) after Clause 10.2(c) as follows: 

 

	 	“(d)	Voluntary repayments on and after October 2013 

 Without prejudice to Clause 10.2(c) above, in respect of any Revolving Advances outstanding on and after the Settlement Date falling in October 2013, each Borrower may (but is not obliged to), by giving
to the Facility Agent prior notice on a Reporting Date to that effect, repay such Revolving Advances on the Settlement Date immediately following such Reporting Date in an amount specified in such notice. The relevant Borrower may not make any
voluntary repayment under this Clause 10.2(d) unless, prior to such voluntary repayment, such Borrower has paid in full all amounts then due and payable by it under the Senior Finance Documents on such Settlement Date.”. 

 

	2.7	Amendment to Clause 11.10 (Other Restrictions) 

The Parties agree that Clause 11.10(b) shall be deleted in its entirety and be replaced by: 

 

	 	“(b)	Unless a contrary indication appears in this Agreement, any part of the Facility which is prepaid or repaid may be reborrowed in accordance with the terms of this
Agreement. For the avoidance of doubt, any part of the Facility which is repaid by any Borrower in accordance with Clause 10.2(c) (Repayments on and after October 2013) and Clause 10.2(d) (Voluntary repayments on and after October
2013) may not be reborrowed.”. 

  

	2.8	Amendment to Clause 9 (Fees) 

 The Parties agree that a new Clause 9.3 (Extension Fee) shall be inserted in Clause 9 (Fees) as follows: 
  

	 	“9.3	Extension Fee 

 To the
extent that the Outstandings under this Agreement on the Settlement Date falling in October 2013 is more than zero, the Co-ordinator shall, on the Settlement Date falling in October 2013, pay to the Facility Agent for the account of each Lender a
Lender Extension Fee. 
 For the purposes of this Clause 9.3 (Extension Fee): 

“Lender Extension Fee” means, in respect of each Lender, an amount equal to the product of: (i) the Extension Fee
and (ii) such Lender’s pro rata share of all the Advances outstanding on the Settlement Date falling in October 2013; and 
 “Extension Fee” means an amount equal to the lower of: 
  

	 	(a)	the multiple of (i) 0.25 per cent. and (ii) the Outstandings as of the Settlement Date falling in October 2013; or 

 

	 	(b)	Euro 250,000.”. 

  

 EXECUTION VERSION 
  

	2.9	Amendments to Clause 26 (Payments) 

 

	 	2.9.1	The Parties agree that Clause 26.1(a) (Payment to the Facility Agent) shall be deleted in its entirety and replaced by: 

 

	 	“(a)	Subject to Clause 26.1(d) below, on each date on which an Obligor or a Lender is required to make a payment under a Senior Finance Document, that Obligor (subject to
Clause 26.8 (Payments to the Security Agent)) or Lender shall make the same available to the Facility Agent (unless a contrary intention appears in a Senior Finance Document) for value on the due date at the time and in such funds specified
by the Facility Agent as being customary at the time for settlement of transactions in the relevant currency in the place of payment.”. 

  

	 	2.9.2	The Parties agree that a new Clause 26.1(c) shall be inserted after Clause 26.1(b) as follows: 

“(c) Payment made by any Italian Obligor shall be made to (in the case of an amount denominated in Euro) the following account of
the Crédit Agricole Corporate and Investment Bank, Milan branch, or such other account with such bank as Crédit Agricole Corporate and Investment Bank, Milan branch may specify from time to time: 

 

			
	Name:	  	CA-CIB MILAN
	 SWIFT Code:
	  	BSUIITMM
	 IBAN:
	  	IT68D0306912711000012098001
	 Reference:
	  	AVIS.”.

  

	 	2.9.3	The Parties agree that a new Clause 26.1(d) shall be inserted after the new Clause 26.1(c) as follows: 

 

	 	“(d)	All payments (including, without limitation, the commitment fee and other fees referred to in Clause 9 (Fees)) required to be made by an Italian Obligor in
respect of the Italian Tranche or by an Italian Lender in respect of the Italian Tranche shall (subject to Clause 26.8 (Payments to the Security Agent) be made directly available to the Italian Obligor or the Italian Lender, as applicable
(unless a contrary intention appears in a Senior Finance Document) for value on the due date at the time and in such funds specified by the Italian Lender as being customary at the time for settlement of transactions in the relevant currency in
Italy.”. 

  

	 	2.9.4	The Parties agree to amend Clause 26.3 (Distributions to an Obligor) by deleting it in its entirety and replacing with: 

 

	 	“(a)	Subject to Clause 26.3(b) below, the Facility Agent and the Security Agent may (with the consent of the Obligor or in accordance with Clause 27 (Set-off)) apply
any amount received by it for that Obligor in or towards payment (on the date and in the currency and funds of receipt) of any amount due from that Obligor under the Senior Finance Documents or in or towards purchase of any amount of any currency to
be so applied. 

  

	 	(b)	 In respect of any payment made by an Italian Obligor to an Italian Lender, the relevant Italian Lender may (with the consent of the relevant Italian

  

 EXECUTION VERSION 
  

	 	
Obligor or in accordance with Clause 27 (Set-off)) apply any amount received by it for such Italian Obligor in or towards payment (on the date and in the currency and funds of receipt) of
any amount due from that Italian Obligor under the Senior Finance Documents or in or towards purchase of any amount of any currency to be so applied.”. 

 

	3	General 

  

	3.1	Effective Date 

 The
Parties hereby agree that: 
  

	 	(i)	the amendments set out in paragraph 2.9 (Amendments to Clause 26 (Payments)) shall be effective on and from three (3) Business Days from the date
hereof; and 

  

	 	(ii)	the amendments set out in paragraphs 2.1 (Amendment to the definition of “Final Maturity Date”) to 2.8 (Amendment to Clause 9 (Fees)) above
shall be effect on and from the date hereof (if the date hereof is a Settlement Date) or otherwise the Settlement Date immediately following the date hereof. 

 

	3.2	Facility Agreement 

  

	 	3.2.1	These amendments have been made in accordance with Clause 39 (Amendments) of the Facility Agreement. 

 

	 	3.2.2	Save as expressly amended by this Letter, the Facility Agreement shall otherwise remain unamended and in full force and effect in accordance with the terms
thereof. 

  

	 	3.2.3	By their acceptance of the terms of this Letter, each of the Obligors confirm that its obligations under the Senior Finance Documents to which it is a party
(including the guarantee and indemnity of each Guarantor) will remain in full force and effect. 

  

	 	3.2.4	The Facility Agent and the Co-ordinator designate this Letter as a Senior Finance Document for the purposes of the Facility Agreement. 

 

	3.3	Security 

  

	 	3.3.1	Confirmation of security 

Each of the Obligors undertakes to take any step it deems necessary or desirable to maintain in full force and effect the validity,
enforceability, priority or perfection of any Security Document under any applicable law or regulation, including, without limitation, the ratification, extension, making or amendment of any document or registration in respect of the Security
created thereby. 
  

	 	3.3.2	Confirmation of the Italian security 

 The Parties hereby acknowledge and agree, for the purposes of article 1232 of the Italian civil code, that, by signing this Letter, they do not intend to novate (it being understood that the term
“novate” shall be construed as the Italian term “novare” under article 1230 and following of the Italian civil code) the obligations of the grantor of any security interest governed by Italian law under the Facility Agreement or
any other Senior Finance Document. 

  

 EXECUTION VERSION 
  

	3.4	Illegality 

 If, at any
time, any provision hereof is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions hereof nor the legality, validity or
enforceability of such provision under the law of any other jurisdiction shall in any way be affected or impaired thereby. 
  

	3.5	Rights and remedies 

 No
failure by the Finance Parties to exercise, or any delay by the Finance Parties in exercising, any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or
other exercise thereof or the exercise of any other right or remedy. The rights and remedies provided herein are cumulative and not exclusive of any rights or remedies provided by law or under any Senior Finance Document. 

 

	3.6	Counterparts 

 This Letter
may be executed in any number of counterparts, and this has the same effect as if the signatures on the counterparts were on a single copy of this Letter. 
  

	3.7	Governing law and jurisdiction 

 This Letter and all non-contractual obligations arising out of or in connection with it shall be governed by English law. Each of the parties hereto hereby submits to the jurisdiction of the courts of
England and Wales. 
  

	3.8	Third party rights 

 No
person shall have any right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Letter. 
 The
remainder of this page is intentionally left blank. 

  

 EXECUTION VERSION 
  

	
	Yours faithfully
	
	/s/ Stuart Fillingham
	Avis Finance Company Limited
	as Co-ordinator on behalf of each of the Obligors

  

 EXECUTION VERSION 
  

					
	Signed to indicate its agreement:	    		 	
			
	/s/ Edith Lusson	    	 	 	/s/
Jerome Maziere                            
	Crédit Agricole Corporate and Investment Bank	    		 	
	as Mandated Lead Arranger, Original lender, Security Agent and Facility Agent	    		 	

  

 EXECUTION VERSION 
  

					
	Signed to indicate its agreement:	 		 	
			
	/s/ Edith Lusson	 		 	/s/ Jerome Maziere
	 Crédit Agricole Corporate and Investment Bank,
 Milan Branch
 as Original Lender
	 		 	

  

 EXECUTION VERSION 
  

					
	Signed to indicate its agreement:	    		 	
			
	 /s/ Patrick Connors
	    	 	 	 /s/ Frederic de Benoist

	Deutsche Bank AG, London branch	    		 	
	as Lender	    		 	

  

 EXECUTION VERSION 
  

					
	Signed to indicate its agreement:	  		 	
			
	 /s/ John O’Connor
	  	 	 	 /s/ Steve Caller

	Scotiabank Europe plc	  		 	
	as Lender	  		 	

  

 EXECUTION VERSION 
  

					
	Signed to indicate its agreement:	 		 	
			
	/s/ Simone Dumermuth-Eberhard	 		 	/s/ Peter Stopfer
	 Unicredit Bank Aktiengesellschaft
 as Lender
	 		 	

  

 EXECUTION VERSION 
  

	
	Signed to indicate its agreement:
	
	/s/ Emmanuel Lefort
	Natixis
	as Lender

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00212-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00212-of-00352.parquet"}]]