Document:

<PAGE>   1

                                                                  EXHIBIT 4.2

                  AMENDED AND RESTATED SERIES 1997-2 SUPPLEMENT

                            dated as of June 20, 2001
                                     to the

                       AMENDED AND RESTATED BASE INDENTURE
                          dated as of December 1, 1996

                                      among

                        TEAM FLEET FINANCING CORPORATION,
                                   the Issuer

                               BUDGET GROUP, INC.
                                  the Servicer

                               BUDGET GROUP, INC.,
                             the Team Interestholder

                             BANKERS TRUST COMPANY,
                                   the Trustee

<PAGE>   2

                                TABLE OF CONTENTS
<TABLE>
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                                                                           Page
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<S>         <C>                                                               <C>

                                   ARTICLE I.

                                   DESIGNATION

                                   ARTICLE II.

                                   DEFINITIONS

Section 2.1  Incorporation of Schedule 1, Etc.................................2
Section 2.2  Defined Terms....................................................2

                                  ARTICLE III.

                           SECURITY; REPORTS; COVENANT

Section 3.1  Grant of Security Interest......................................25
Section 3.2  Reports.........................................................27
Section 3.3  Auction Acquired Vehicles.......................................27
Section 3.4  Series 1997-2 Minimum Non-Repurchase Credit Support Percentage..27
Section 3.5  Series 1997-2 Hedge Agreement...................................27

                                   ARTICLE IV.

                 INITIAL ISSUANCE AND INCREASES AND DECREASES OF
              SERIES 1997-2 INVESTED AMOUNT OF SERIES 1997-2 NOTES

Section 4.1  Issuance in Definitive Form.....................................27
Section 4.2  Procedure for Increasing the Invested Amount....................28
Section 4.3  Decreases.......................................................30

                                   ARTICLE V.

                            SERIES 1997-2 ALLOCATIONS

Section 5.1  Establishment of Series 1997-2 Collection Account and
             Series 1997-2 Accrued Interest Account..........................30
Section 5.2  Allocations with respect to the Series 1997-2 Notes.............31
Section 5.3  Monthly Payments from the Series 1997-2 Accrued
              Interest Account...............................................37
Section 5.4  Payment of Note Interest........................................38
Section 5.5  Payment of Note Principal.......................................39
Section 5.6  Servicer's or Budget's Failure to Make a Deposit or Payment.....40
Section 5.7  Series 1997-2 Distribution Account..............................40

                                        i

</TABLE>
<PAGE>   3

<TABLE>
<CAPTION>
<S>          <C>                                                               <C>
Section 5.8  Allocation of Certain Amounts to Interest.......................41
Section 5.9  Draw on Letter of Credit........................................41
Section 5.10 Draw on the Subordinated Note and the Demand Note...............42
Section 5.11 Letter of Credit Termination Demand.............................43
Section 5.12 Conversion......................................................44
Section 5.13 The Cash Collateral Account.....................................44
Section 5.14 Notices of Increase or Decrease of Amount of Letter of Credit...46

                                   ARTICLE VI.

                      RIGHT TO WAIVE PURCHASE RESTRICTIONS

Section 6.1  Request for Waiver..............................................46
Section 6.2  Consents........................................................47

                                  ARTICLE VII.

                               AMORTIZATION EVENTS

                                  ARTICLE VIII.

                                     GENERAL

Schedule 1 - Maximum Manufacturer Percentages

Exhibit A. - Form of Series 1997-2 Note
Exhibit B. - Form of Consent
Exhibit C. - Form of Notice of Series 1997-2 Lease Payment Deficit
Exhibit D. - List of Approved Manufacturers
</TABLE>

<PAGE>   4
         This Amended and Restated Series 1997-2 Supplement, dated as of June
20, 2001 (this "Supplement"), among Team Fleet Financing Corporation, a Delaware
corporation ("TFFC" or the "Issuer"), Budget Group, Inc. ("Budget"), a Delaware
corporation formerly known as Team Rental Group, Inc. ("Team"), as the Servicer
(in such capacity, the "Servicer"), Budget, as the holder of the Team Interest
(in such capacity, the "Team Interestholder"), Bankers Trust Company, a banking
corporation organized and existing under the laws of the State of New York, as
Trustee (the "Trustee"), under the Amended and Restated Base Indenture, dated as
of December 1, 1996, among TFFC, Team and the Trustee (as amended, supplemented
or otherwise modified from time to time, exclusive of Supplements creating a new
Series of Notes, the "Base Indenture") amends and restates the Series 1997-2
Supplement to the Base Indenture originally dated April 29, 1997, as amended and
supplemented by the Supplement No. 1 thereto, dated August 30, 1999, the
Supplement No. 2 thereto, dated as of April 25, 2000, and the Supplement No. 2
[sic], dated as of March 30, 2001 (collectively, the "Original Series
Supplement").

                              PRELIMINARY STATEMENT

         WHEREAS, Sections 2.2 and 12.1 of the Base Indenture provide, among
other things, that TFFC, the Servicer and the Trustee may at any time and from
time to time enter into a supplement to the Base Indenture for the purpose of
authorizing the issuance of one or more Series of Notes.

         WHEREAS, all conditions precedent as set forth in such Sections with
respect to entering into a supplement to the Base Indenture have been satisfied.

         NOW, THEREFORE, the parties hereto agree as follows:

                                   ARTICLE I.

                                  DESIGNATION

         There is hereby created a Series of Notes to be issued pursuant to the
Base Indenture and this Supplement and such Series of Notes (as defined below)
shall be designated generally as Variable Funding Rental Car Asset Backed Notes,
Series 1997-2. The Series 1997-2 Notes shall be issued in one class and are
referred to as the "Series 1997-2 Notes".

         The proceeds from the sale of the Series 1997-2 Notes shall be
deposited in the Series 1997-2 Collection Account and the proceeds of Increases
in respect thereof shall be available to TFFC and used to purchase or refinance
Vehicles for leasing to the Lessees under the Series 1997-2 Lease. Any proceeds
not so used to purchase Vehicles shall remain in the Series 1997-2 Collection
Account for future application to purchase or refinance Series 1997-2 Vehicles
or to prepay the Series 1997-2 Notes.

         The Series 1997-2 Notes are a Segregated Series of Notes (as more fully
described in the Base Indenture). All references in this Supplement to "all"
Series of Notes (and all references in this Supplement to terms defined in the
Base Indenture that contain references to "all" Series of Notes) shall refer to
all Series of Notes other than Segregated Series of Notes.

<PAGE>   5

                                  ARTICLE II.

                                 DEFINITIONS

         Section 2.1.      Incorporation of Schedule 1, Etc. All capitalized
terms not otherwise defined herein shall have the meaning set forth therefor in
Schedule 1 to the Base Indenture or in Annex A to the Liquidity Agreement. All
Article, Section or Subsection references herein shall refer to Articles,
Sections or Subsections of the Base Indenture, except as otherwise provided
herein. Unless otherwise stated herein, as the context otherwise requires or if
such term is otherwise defined in the Base Indenture, each capitalized term used
or defined herein shall relate only to the Series 1997-2 Notes and not to any
other Series of Notes issued by TFFC.

         Section 2.2.       Defined Terms. The following words and phrases shall
have the following meanings with respect to the Series 1997-2 Notes and the
definitions of such terms are applicable to the singular as well as the plural
form of such terms and to the masculine as well as the feminine and neuter
genders of such terms:

         "Additional Fees" means, with respect to any Series 1997-2 Interest
Period, the aggregate amount of fees, if any, under the Note Purchase Agreement
which have accrued during such Series 1997-2 Interest Accrual Period and which
are payable by TFFC in respect of the Series 1997-2 Notes, in each case solely
to the extent such fees are not included in the calculation of the Series 1997-2
Note Rate for any Series 1997-2 Interest Accrual Period.

         "Additional Overcollateralization Amount" means, with respect to the
Series 1997-2 Notes on any date, a dollar amount equal to the excess of (a) a
dollar amount equal to (i) the Series 1997-2 Invested Amount as of such day
divided by (ii) 100% minus the Overcollateralization Enhancement Percentage as
of such day over (b) the sum of (i) the Series 1997-2 Invested Amount as of such
day and (ii) the product of (x) the Overcollateralization Enhancement Percentage
and (y) the Series 1997-2 Invested Amount as of such day.

         "Aggregate Interest Expense" means the aggregate consolidated gross
interest expense of Budget and its Consolidated Subsidiaries for such period, as
determined in accordance with GAAP, including (i) commitment fees paid or owed
with respect to the issuance or maintenance of contingent liabilities (including
letters of credit), which, in accordance with GAAP, would be included as
interest expense, (iii) net costs or benefits under hedging arrangements and
(iv) the portion of any payments made in respect of Capitalized Lease
Liabilities of Budget and its Consolidated Subsidiaries allocable to interest
expense, but excluding the amortization of debt issuance costs and other
financing expenses incurred in connection with the Transaction (provided that,
in the event any such period would include a Pre-Acquisition Period, such gross
interest expense for such Pre-Acquisition Period would equal the sum of (A) in
the event such Pre-Acquisition Period would include the fiscal quarter ending
December 31, 1996, $31,053,000 plus (B) gross interest expense for the remainder
of such Pre-Acquisition Period (or, if the preceding clause (A) is not
applicable, for the entirety of such Pre-Acquisition Period) determined on a pro
forma basis after giving effect to consummation of the Transaction in a manner
consistent with the pro forma financial statements referred to in the Credit
Agreement.

                                       2
<PAGE>   6

         "Aggregate Principal Balance" means, for any date of determination the
aggregate unpaid principal amount of the Outstanding Series 1997-2 Notes as of
such date.

         "Base Amount" means, as of any date of determination, the sum of the
Net Book Values of all Financed Vehicles leased under the Financing Lease as of
such date, each such Net Book Value calculated as of the first day contained
within both the calendar month in which such date of determination occurs and
the Vehicle term for the related Financed Vehicle, plus all accrued and unpaid
Monthly Base Rent thereunder as of such date.

         "Base Indenture" has the meaning set forth in the preamble.

         "Budget Funding" means Budget Funding Corporation, a Delaware
corporation, and any successor thereto.

         "Capitalized Lease Liabilities" means all monetary obligations of
Budget or any of its Consolidated Subsidiaries under any leasing or similar
arrangement which, in accordance with GAAP, would be classified as capitalized
leases, and, for purposes of this Series Supplement and each other Related
Document, the amount of such obligations shall be the capitalized amount
thereof, determined in accordance with GAAP, and, with respect to any such
leasing or similar arrangement, the stated maturity thereof shall be the date of
the last payment of rent or any other amount due under such lease prior to the
first date upon which such lease may be terminated by the lessee without payment
of a premium or a penalty.

         "Carryover Controlled Amortization Amount" means with respect to the
Series 1997-2 Notes for any Related Month during the Controlled Amortization
Period, (i) the excess, if any, of the Controlled Distribution Amount payable on
the Distribution Date occurring in the Related Month over the principal amount
distributed on such Distribution Date with respect to the Series 1997-2 Notes
pursuant to Section 5.5, plus (ii) the unpaid amount, if any, of the Carryover
Controlled Amortization Amount for the previous Related Month; provided,
however, that for the first Related Month in the Series 1997-2 Controlled
Amortization Period, the Carryover Controlled Amortization Amount shall be zero.

         "Carryover Controlled Liquidity Amortization Amount" means with respect
to the Series 1997-2 Notes for any Related Month during the Series 1997-2
Controlled Liquidity Amortization Period, (i) the excess, if any, of the
Controlled Liquidity Distribution Amount payable on the Distribution Date
occurring with respect to the Related Month over the principal amount
distributed on such Distribution Date with respect to the Series 1997-2 Notes
pursuant to Section 5.5, plus (ii) the unpaid amount, if any, of the Carryover
Controlled Liquidity Amortization Amount for the previous Related Month;
provided, however, that for the first Related Month in the Series 1997-2
Controlled Liquidity Amortization Period, the Carryover Controlled Liquidity
Amortization Amount shall be zero.

         "Cash Collateral Account" has the meaning specified in Section 5.11(a).

         "Cash Collateral Account Surplus" means, as of any date of
determination subsequent to the establishment and funding of the Cash Collateral
Account pursuant to Section 5.11, the amount, if any, by which the Letter of
Credit Amount exceeds the Required Letter of Credit Amount.

                                       3
<PAGE>   7

         "Cash Flow" means for any applicable period, the Net Income of Budget
and its Consolidated Subsidiaries plus amounts (without duplication) that have
been deducted in determining Net Income for income tax expense, depreciation of
plant and equipment, Aggregate Interest Expense, amortization of Indebtedness
discount and Indebtedness issuance costs and amortization of capitalized
acquisition transaction costs.

         "Casualty Payment" has the meaning specified in Section 6 of the Series
1997-2 Lease.

         "Certificate of Credit Demand" means a certificate in the form of Annex
A to the Letter of Credit.

         "Certificate of Liquidity Demand" means a certificate in the form of
Annex B to the Letter of Credit.

         "Certificate of Termination Demand" means a certificate in the form of
Annex C to the Letter of Credit.

         "Change of Percentage Notice" has the meaning set forth in Section 6.1
of this Supplement.

         "Collateral" means the Series 1997-2 Collateral and the Distribution
Account Collateral.

         "Commercial Paper Notes" means the promissory notes of Budget Funding
issued by Budget Funding in the commercial paper market pursuant to the
Depositary Agreement.

         "Consent" has the meaning set forth in Section 6.l(c) of this
Supplement.

         "Consent Period Expiration Date" has the meaning set forth in Section
6.1(c) of this Supplement.

         "Consolidated Subsidiary" means, at any time, with respect to Budget,
any subsidiary or other entity the accounts of which would be consolidated with
those of Budget, in its consolidated financial statements as of such time.

         "Contingent Liability" means any agreement, undertaking or arrangement
by which any person guarantees, endorses or otherwise becomes or is continently
liable upon (by direct or indirect agreement, contingent or otherwise, to
provide funds for payment, to supply funds to, or otherwise to invest in, a
debtor, or otherwise to assure a creditor against loss) the indebtedness,
obligation or any other liability of any other person (other than by
endorsements of instruments in the course of collection), or guarantees the
payment of dividends or other distributions upon the shares of any other person.
The amount of any person's obligation under any Contingent Liability shall
(subject to any limitation set forth therein) be deemed to be the outstanding
principal amount (or maximum principal amount, if larger) of the debt,
obligation or other liability guaranteed thereby.

         "Controlled Distribution Amount" means, with respect to any Related
Month during the Series 1997-2

                                       4
<PAGE>   8

Controlled Amortization Period, an amount equal to the sum of the Series 1997-2
Controlled Amortization Amount and any Carryover Controlled Amortization Amount
for such Related Month.

         "Controlled Liquidity Distribution Amount" means, with respect to any
Related Month during the Series 1997-2 Controlled Liquidity Amortization Period,
an amount equal to the sum of the Series 1997-2 Controlled Liquidity
Amortization Amount and any Carryover Controlled Liquidity Amortization Amount
for such Related Month.

         "Credit Agreement" means the Amended and Restated Credit Agreement
dated as of June 19, 1998 (amending and restating the Credit Agreement dated as
of April 29, 1997) among Budget Group, Inc., as borrower, Credit Suisse First
Boston, as syndication and administrative agent, and the institutions parties
thereto as lenders, as such agreement may be amended, supplemented, amended and
restated or otherwise modified from time to time in accordance with the terms
thereof.

         "Credit Draw" means a draw on the Letter of Credit pursuant to a
Certificate of Credit Demand.

         "Daily Interest Amount" means, for any day in a Series 1997-2 Interest
Period, an amount equal to (a) the product of (i) the Series 1997-2 Note Rate
for such Series 1997-2 Interest Period and (ii) the Series 1997-2 Invested
Amount as of the close of business on such date, divided by (b) 360.

         "Decrease" means a Voluntary Decrease or a Mandatory Decrease, as
applicable.

         "Demand Note" means the demand note made by BRACC to TFFC which is
payable by BRACC upon TFFC's demand.

         "Depositary Agreement" has the meaning specified in the Note Purchase
Agreement.

         "Deposit Date" has the meaning specified in Section 5.2 of this
Supplement.

         "Designated Amounts" has the meaning set forth in Section 6.1(b) of
this Supplement.

         "Determination Date" means the second Business Day prior to each
Distribution Date.

         "Disposition Proceeds" means the net proceeds (other than the portion
of the Repurchase Price payable by the, related Manufacturer or Guaranteed
Payments) from the sale or disposition of Series 1997-2 Vehicles to any Person,
whether at auction or otherwise; provided, however, that Disposition Proceeds
shall not include Termination Payments.

         "Distributions" means (i) contributions, loans or other distributions
made by Budget to a profit sharing or pension plan not made in the ordinary
course of the operation of such Plan and (ii) all fees, rents and other
compensation or payments paid or made by Budget or its Subsidiaries to any
stockholder of Budget except for such fees, rents or other compensation or
payments paid or made in exchange for actual services rendered to Budget on an
arm's length basis by such stockholder.

                                       5
<PAGE>   9

         "Distribution Date" means, with respect to the Series 1997-2 Notes, the
25th day of each calendar month or, if such day is not a Business Day, the next
succeeding Business Day, commencing July 25, 2001, except that the Distribution
Date in June, 2003 shall be June 18, 2003.

         "Dividends" has the meaning specified in Section 29.7 of the Series
1997-2 Lease.

         "EBITDA" means, for any applicable period, the sum for such period of

                           (a)      Net Income (excluding therefrom (i) the
                  effect of any non-cash gains (or non-cash losses), (ii) any
                  write-up in the value of any asset, (iii) the income (or
                  losses) of any person (other than Budget or any other
                  Consolidated Subsidiary of Budget) in which Budget, or any of
                  its Consolidated Subsidiaries has an ownership interest,
                  except to the extent of the amount of dividends or other
                  distributions actually paid in cash to (or the amount of
                  contributions to capital actually made in cash by) Budget or
                  any of its Consolidated Subsidiaries by (or in) such person
                  during such period, (iv) except where the provisions hereof
                  expressly require a pro forma determination, the income (or
                  loss) of any person accrued prior to the date it becomes a
                  Consolidated Subsidiary of Budget or is merged into or
                  consolidated with Budget or any of its Consolidated
                  Subsidiaries or the date that such other person's assets are
                  acquired by Budget or any of its Consolidated Subsidiaries and
                  (v) the income of any Consolidated Subsidiary of Budget to the
                  extent that the declaration or payment of dividends or similar
                  distributions by such Consolidated Subsidiary of that income
                  is not at the time permitted by operation of the terms of its
                  charter or any agreement, instrument, judgment, decree, order,
                  statute, rule or governmental regulation applicable to that
                  Consolidated Subsidiary)

plus

                           (b)      to the extent deducted in arriving at such
                  Net Income, the sum, without duplication, of (i) Aggregate
                  Interest Expense, plus (ii) taxes computed on the basis of
                  income;

provided, however, that in the event any such period would include a
Pre-Acquisition Period, EBITDA for such Pre-Acquisition Period would equal the
sum of (i) in the event such Pre-Acquisition Period would include the fiscal
quarter ending December 31, 1996, $120,617,000 plus (ii) EBITDA for the
remainder of such Pre-Acquisition Period (or, if the preceding clause (i) is not
applicable, for the entirety of such Pre-Acquisition Period) determined on a pro
forma basis after giving effect to consummation of the Transaction in a manner
consistent with the pro forma financial statements referred to in the Credit
Agreement.

         "Eligible Credit Enhancer" means (a) a commercial bank having total
assets in excess of $500,000,000, (b) a finance company, insurance company or
other financial institution that in the ordinary course of business enters into
transactions of a type similar to that entered into by the Letter of Credit
Provider under the Letter of Credit Reimbursement Agreement and has total assets
in excess of $200,000,000, and with respect to which providing or becoming an
assignee

                                       6
<PAGE>   10

of the obligations of the Letter of Credit Provider would not constitute a
prohibited transaction under Section 4975 of ERISA and (c) any other financial
institution, in each case reasonably satisfactory to Budget and TFFC having a
short-term rating from Standard & Poor's and Moody's at least equal to A-1, or
better, by Standard & Poor's and P-1 by Moody's; provided, however, that any
Person who does not have either a short-term rating from Standard & Poor's or
Moody's shall be deemed to have the required rating set forth above if such
Rating Agency confirms in writing that such Person, if its short-term debt
obligations were rated, would be assigned such required rating.

         "Eligible Manufacturer" means each Manufacturer listed on Exhibit D to
this Supplement and any other Manufacturer that (a) has an Eligible Repurchase
Program, (b) has been approved by the Enhancement Provider for the Series 1997-2
Notes; provided, however, that upon the occurrence of a Manufacturer Event of
Default with respect to such Manufacturer, such Manufacturer shall no longer
qualify as an Eligible Manufacturer;

         "Eligible Non-Repurchase Manufacturer" means each Manufacturer listed
on Exhibit D to this Supplement and any other Manufacturer that has been
approved by the Rating Agencies or with respect to the addition of which Rating
Agency Confirmation has been obtained.

         "Eligible Non-Repurchase Vehicle" means any Non-Repurchase Vehicle, (a)
which is owned by TFFC or (with respect to Financed Vehicles only) is owned by a
Lessee, (b) the Manufacturer of which is an Eligible Non-Repurchase
Manufacturer, and (c) with respect to which (i) the Trustee is noted as the
first lienholder on the Certificate of Title therefor, (ii) the Certificate of
Title has been submitted to the appropriate state authorities for such notation
or (iii) the Lessee has commenced the process to note the lien of the Trustee on
the Certificate of Title within the time period specified in the related Lease;
provided, however, if the actions provided in clause (i) or (ii) are not
sufficient in any state to cause the Trustee's Lien upon such Vehicles to be a
perfected first lien, then in order for a Vehicle titled in such state to be an
"Eligible Non-Repurchase Vehicle", such action as is required to cause the
Trustee's Lien to be a perfected first Lien shall have been taken by the
Servicer.

         "Eligible Repurchase Program" means, at any time, a Repurchase Program
(as defined in this Supplement) offered by an Eligible Manufacturer and
currently in effect (a) pursuant to which the Repurchase Price (or the price
guaranteed to be received at an auction conducted by or within the requirements
established by the Eligible Manufacturer) is at least equal to the Capitalized
Cost of each vehicle, minus all Depreciation Charges accrued with respect to
such Vehicle prior to the date that the vehicle is submitted for repurchase,
minus Excess Mileage Charges, minus Excess Damage Charges and minus any other
charges specified in such Repurchase Program, (b) that cannot be amended or
terminated with respect to any Vehicle after the purchase of that Vehicle, and
(c) if such date of determination of eligibility is on or after May 29, 1997,
the benefits of which have been collaterally assigned to the Trustee or to the
Master Collateral Agent, pursuant to an Assignment Agreement acknowledged in
writing by the related Manufacturer, and TFFC (and the Trustee on behalf of
TFFC) has been provided (if such date of determination of eligibility is on or
after May 29, 1997) with an opinion of counsel reasonably satisfactory to the
Trustee that the Master Collateral Agent of behalf of the Trustee and TFFC can
enforce the applicable Manufacturer's obligations thereunder; provided, however,
that with respect to a Repurchase Program for any model year beginning with 1998
and thereafter, if the

                                       7
<PAGE>   11

Series 1997-2 Notes or the Commercial Paper Notes are then being rated by
Standard & Poor's or Moody's, TFFC shall have received (i) confirmation by
Standard & Poor's or Moody's, as the case may be, that the acquisition of
Vehicles pursuant to such Repurchase Program will not result in the reduction or
withdrawal of any rating issued by Standard & Poor's or Moody's in respect of
such Series of Notes or the Commercial Paper Notes, and (ii) if there is a major
change to a Repurchase Program during a model year, Rating Agency Confirmation
that the acquisition of Vehicles pursuant to such Repurchase Program will not
result in a reduction or withdrawal of any rating issued by each Rating Agency
in respect of such Series of Notes or the Commercial Paper Notes.

         "Eligible Repurchase Vehicle" means any automobile, van or light truck
(a) which at the time of purchase or financing by TFFC is eligible under an
Eligible Repurchase Program, (b) which is owned by TFFC or (with respect to
Financed Vehicles only) is owned by a Lessee, and (c) with respect to which
either (i) the Trustee is noted as the first lienholder on the Certificate of
Title therefor or (ii) the Certificate of Title has been submitted to the
appropriate state authorities for such notation; provided, however, if the
actions provided in clause (i) or (ii) are not sufficient in any state to cause
the Trustee's Lien upon such Vehicles to be a perfected first Lien, then in
order for a Vehicle titled in such state to be an "Eligible Repurchase Vehicle,"
such action as is required to cause the Trustee's Lien to be a perfected first
Lien shall have been taken by the Servicer.

         "Enhancement Percentage" means (for purposes of determining the Series
1997-2 Required Asset Amount) on any day, a percentage equal to the sum of (i)
20.50% times the Series 1997-2 Non-Repurchase Percentage on such day plus (ii)
16.00% times the Series 1997-2 Segregated Repurchase Percentage on such day,
plus (iii) 21.00% times the Series 1997-2 Truck Percentage on such day.

         "Excluded Payments" means the following amounts payable to TFFC
pursuant to the Repurchase Programs: (i) all incentive payments payable to TFFC
to purchase Vehicles under the Repurchase Programs, (ii) all amounts payable to
TFFC as compensation for the preparation by TFFC of newly delivered Vehicles
under the Repurchase Programs and (iii) all amounts payable to TFFC in
reimbursement for warranty work performed by TFFC on the Vehicles under the
Repurchase Programs.

         "Expected Final Distribution Date" means the Distribution Date
occurring in the 13th (thirteenth) calendar month following the commencement of
the Series 1997-2 Controlled Amortization Period.

         "Finance Lease" has the meaning specified in Annex B to the Series
1997-2 Lease.

         "Financed Vehicle" means an Eligible Repurchase Vehicle, or Eligible
Non-Repurchase Vehicle that is (a) a Texas Vehicle or (b) a Hawaii Vehicle.

         "Hawaii Vehicle" means an Eligible Repurchase Vehicle, or Eligible
Non-Repurchase Vehicle acquired on or after the Lease Commencement Date for
lease in the State of Hawaii.

         "Hedge Counterparty" means the entity under a Series 1997-2 Hedge
Agreement that is obligated to make payments to the Trustee.

                                       8
<PAGE>   12

         "Increase" has the meaning specified in Section 4.2(a) of this
Supplement.

         "Increase Date" means the date on which an Increase occurs.

         "Indebtedness" of any person means, without duplication:

         (a) all obligations of such person for borrowed money and all
obligations of such person evidenced by bonds, debentures, notes or other
similar instruments;

         (b) all obligations, contingent or otherwise, relative to the face
amount of all letters of credit, whether or not drawn, and banker's acceptances
issued for the account of such person;

         (c) all obligations of such persons as lessee under leases which have
been or should be, in accordance with GAAP, recorded as Capitalized Lease
Liabilities;

         (d) all other items which, in accordance with GAAP, would be included
as liabilities on the liability side of the balance sheet of such person as of
the date at which Indebtedness is to be determined;

         (e) net liabilities of such person under all hedging obligations;

         (f) whether or not so included as liabilities in accordance with GAAP,
all obligations of such person to pay the deferred purchase price of property or
services, and indebtedness (excluding prepaid interest thereon) secured by a
lien on property owned or being purchased by such person (including indebtedness
arising under conditional sales or other title retention agreements), whether or
not such indebtedness shall have been assumed by such person or is limited in
recourse;

         (g) redeemable capital stock; and

         (h) all Contingent Liabilities of such person in respect of any of the
foregoing.

         "Initial Invested Amount" means the aggregate initial principal amount
of the Series 1997-2 Notes, which is $522,349,191.08.

         Interest Coverage Ratio" means, at the end of any fiscal quarter of
Budget, the ratio of

         (a)      EBITDA for the four consecutive fiscal quarters ending on the
last day of such fiscal quarter

to

         (b)      Aggregate Interest Expense for the four consecutive fiscal
quarters ending on the last day of such fiscal quarter.

         "Interest Reset Date" means the first day of the applicable Series
1997-2 Interest Period.

         "Investor Monthly Servicing Fee" means, on any Distribution Date,
1/12th of 1% of the Series 1997-2 Invested Amount as of the preceding
Distribution Date (or the Series 1997-2 Issuance Date, in the case of the
initial Distribution Date).

         "Late Return Payment" has the meaning specified in Section 12 of the
Series 1997-2 Lease.

                                       9
<PAGE>   13

         "L/C Percentage" means, with respect to the Series 1997-2 Notes on any
day, the percentage equivalent of a fraction, (a) the numerator of which is the
Letter of Credit Amount on such date and (b) the denominator of which is the
Series 1997-2 Invested Amount on such date.

         "Lease Collateral" has the meaning specified in Section 2(b) of the
Series 1997-2 Lease.

         "Lessor-Owned Vehicle" means any Eligible Repurchase Vehicle, Eligible
Non-Repurchase Vehicle or Series 1997-2 Truck, other than a Financed Vehicle,
that is acquired by TFFC and leased by TFFC to any of the Lessees under the
Operating Lease.

         "Letter of Credit" means the irrevocable letter of credit issued by the
Letter of Credit Provider in favor of the Co-Trustee for the benefit of the
Series 1997-2 Noteholders pursuant to the Letter of Credit Reimbursement
Agreement.

         "Letter of Credit Amount" means, as of any date of determination, the
amount (a) available to be drawn on such date under the Letter of Credit or
converted to Credit Draws from an LOC Liquidity Disbursement, as specified in
the Letter of Credit or (b) if the Cash Collateral Account has been established
and funded pursuant to Section 5.11, the amount on deposit in the Cash
Collateral Account, including investments of funds on deposit therein on such
date.

         "Letter of Credit Expiration Date" means the date the Letter of Credit
expires as specified in the Letter of Credit, as such date may be extended in
accordance with the terms of such Letter of Credit.

         "Letter of Credit Provider" means Credit Suisse First Boston and any
permitted successors or assigns.

         "Letter of Credit Reimbursement Agreement" shall have the meaning set
forth therefor in Annex A to the Liquidity Agreement.

         "Letter of Credit Reimbursement Obligations" means the obligations of
Budget Rent a Car Corporation, pursuant to Section 2.3(a) of the Letter of
Credit Reimbursement Agreement, to reimburse the Letter of Credit Provider for
Credit Draws under the Letter of Credit.

         "Liquidity Agent" has the meaning specified in the Note Purchase
Agreement.

         "Liquidity Agreement" means the Liquidity Agreement dated as of April
29, 1997 among Budget Funding, certain financial institutions party thereto as
liquidity lenders and Deutsche Bank AG, as liquidity agent, as such agreement
may be amended, modified and supplemented in accordance with its terms.

         "Liquidity Amount" means, with respect to any date of determination, an
amount equal to the product of 3.5% times the Series 1997-2 Invested Amount
outstanding as of such date.

         "Losses" means, on any date of determination, the sum of all Series
1997-2 Non-Repurchase Losses and Series 1997-2 Repurchase Losses.

         "Mandatory Decrease" has the meaning specified in Section 4.3(a).

                                       10
<PAGE>   14

         "Master Collateral Agent" means First National Bank of Chicago, as
master collateral agent under the Master Collateral Agreement dated as of June
1, 1994 among BRACC, Budget Funding, Ford Motor Credit Corporation, The Bank of
New York and certain other financing sources and beneficiaries as parties
thereto.

         "Maximum Lease Commitment" means, on any date of determination, the sum
of (i) the maximum face amount of the Series 1997-2 Notes, plus (ii) the Series
1997-2 Available Subordinated Amount on such date, plus the aggregate Net Book
Values of all Series 1997-2 Vehicles leased under the Series 1997-2 Lease as of
such date which were acquired, financed, or refinanced with funds other than
proceeds of Series 1997-2 Notes or the Series 1997-2 Available Subordinated
Amount, plus (iv) any amounts held in the Team Distribution Account that TFFC
commits on or prior to such date to invest in new Series 1997-2 Vehicles (as
evidenced by an Officer's Certificate of TFFC) in accordance with the terms of
the Series 1997-2 Lease and the Indenture.

         "Maximum Manufacturer Percentage" means, with respect to any Eligible
Manufacturer, the percentage amount set forth in Schedule 1 to this Supplement
(as such schedule, subject to Rating Agency Confirmation, may be amended,
modified or otherwise supplemented from time to time in accordance with the
terms hereof) specified for each Eligible Manufacturer with respect to
Non-Repurchase Vehicles and Repurchase Vehicles, as applicable, which percentage
amount represents the maximum percentage of Eligible Vehicles which are
permitted under the Series 1997-2 Lease to be Non-Repurchase Vehicles or
Repurchase Vehicles, as the case may be, manufactured by such Manufacturer.

         "Maximum Non-Repurchase Percentage" means, with respect to Series
1997-2 Non-Repurchase Vehicles and Series 1997-2 Trucks, twenty-five percent
(25%) of the Series 1997-2 Maximum Invested Amount or such other percentage
amount agreed upon by the Lessor and the Lessees, subject to Rating Agency
Confirmation and the consent provisions of Section 6.1 of this Supplement.

         "Mazda" means Mazda Motor Corporation.

         "Measurement Month" with respect to any date, means each calendar
month, or the smallest number of consecutive calendar months, preceding such
date in which (a) at least 250 Non-Repurchase Vehicles were sold at auction and
(b) at least one-twelfth of the aggregate Net Book Value of the Non-Repurchase
Vehicles as of the last day of such calendar month or consecutive calendar
months were sold at auction; provided, however, that no calendar month included
in a Measurement Month shall be included in any other Measurement Month.

         "Measurement Month Average" means, with respect to any Measurement
Month, the percentage equivalent of a fraction, the numerator of which is the
aggregate amount of Disposition Proceeds and Termination Payments of all
Non-Repurchase Vehicles sold at auction or otherwise during such Measurement
Month and the denominator of which is the aggregate Net Book Value of such
Vehicles on the dates of their respective sales.

         "Minimum Non-Repurchase Credit Support Amount" means, with respect to
the Series 1997-2 Notes on any day, the product of (x) the Series 1997-2 Minimum
Non-Repurchase Credit

                                       11
<PAGE>   15

Support Percentage times (y) a dollar amount equal to the product of (1) the
Series 1997-2 Invested Amount as of such date, minus the aggregate amount of
cash and Permitted Investments in the Series 1997-2 Collection Account on such
date and (2) the Series 1997-2 Non-Repurchase Percentage as of such date.

         "Minimum Repurchase Credit Support Amount" means, with respect to the
Series 1997-2 Notes on any day, the product of (x) the Series 1997-2 Minimum
Segregated Repurchase Credit Support Percentage, times (y) a dollar amount equal
to the product of (1) the Series 1997-2 Invested Amount as of such date, minus
the aggregate amount of cash and Permitted Investments in the Series 1997-2
Collection Account on such date and (2) the Series 1997-2 Segregated Repurchase
Percentage as of such date.

         "Minimum Truck Credit Support Amount" means, with respect to the Series
1997-Notes on any day, the product of (x) the Series 1997-2 Minimum Truck Credit
Support Percentage, times (y) a dollar amount equal to the product of (1) the
Series 1997-2 Invested Amount as of such date, minus the aggregate amount of
cash and Permitted Investments in the Series 1997-2 Collection Account on such
date and (2) the Series 1997-2 Truck Percentage as of such date.

         "Monthly Principal Allocation" has the meaning specified in Section
5.5(a).

         "Monthly Supplemental Servicing Fee" means, on any Distribution Date,
the product of the Supplemental Servicing Fee accrued on such date and a
fraction, the numerator of which shall be the Series 1997-2 Invested Amount on
such Distribution Date and the denominator of which shall be the sum of (x) the
aggregate of the invested amounts for all outstanding Series of Notes on such
Distribution Date plus (y) the Team Interest Amount and the available
subordinated amounts, if any, for all Series.

         "Net Income" means, for any applicable period, the aggregate of all
amounts which, in accordance with GAAP, would be included as net income (or net
loss) on a consolidated statement of income of the parent and its Consolidated
Subsidiaries for such period; provided, however, that, in the event any such
period would include a Pre-Acquisition Period, Net Income for such
Pre-Acquisition Period would equal the sum of (i) in the event such
Pre-Acquisition Period would include the fiscal quarter ending December 31,1996,
($1,682,000) plus (ii) Net Income for the remainder of such
Pre-Acquisition Period (or, if the preceding clause (i) is not applicable, for
the entirety of such Pre-Acquisition Period) determined on a pro forma basis
after giving effect to consummation of the Transaction in a manner consistent
with the pro forma financial statements referred to in the Credit Agreement.

         "Net Book Value" means, with respect to any Vehicle being leased under
the Series 1997-2 Lease (a) as of any date of determination during the period
from the Vehicle Lease Commencement Date for such Vehicle to but excluding the
Determination Date with respect to the Related Month in which such Vehicle Lease
Commencement Date occurs (such Determination Date, the "Initial Determination
Date" for such Vehicle), the Capitalized Cost of such Vehicle, (b) as of the
Initial Determination Date for such Vehicle, (i) the Capitalized Cost for such
Vehicle minus (ii) the aggregate Depreciation Charges accrued with respect to
such Vehicle through the last day of the Related Month in which the Vehicle
Lease Commencement Date for such Vehicle occurred, (c) as of any Determination
Date after the Initial Determination

                                       12
<PAGE>   16

Date, (i) the Net Book Value of such Vehicle as calculated on the immediately
preceding Determination Date minus (ii)the aggregate Depreciation Charges
accrued with respect to such Vehicle during the Related Month (through the last
day thereof), less, (d) if such Vehicle is a Series 1997-2 Non-Repurchase
Vehicle or a Series 1997-2 Truck which was leased under the Series 1997-2 Lease
on the last day of the Related Month, an amount equal to (i) the amount of
Additional Base Rent, if any, paid (or, prior to the applicable Due Date,
payable) on the Due Date immediately following such Related Month divided by
(ii) the number of Series 1997-2 Non-Repurchase Vehicles or Series 1997-2 Trucks
leased under the Series 1997-2 Lease on the last day of the Related Month. After
the Initial Determination Date, on any day which is not a Determination Date,
the Net Book Value of a Vehicle shall be the Net Book Value calculated for such
Vehicle on the most recent Determination Date.

         "Nissan" means Nissan Motor Co.

         "Non-Repurchase Maximum Term" has the meaning specified in Section 3.2
of the Series 1997-2 Lease.

         "Non-Repurchase Vehicle" means, with respect to the Series 1997-2
Notes, a passenger automobile, van or light duty truck which is not subject to
an Eligible Repurchase Program at the time of its leasing under the Series
1997-2 Lease.

         "Note Interest Shortfall" with respect to the Series 1997-2 Notes, has
the meaning specified in Section 5.4.

         "Note Purchase Agreement" means the Note Purchase Agreement dated as of
April 29, 1997 among TFFC, Budget and Budget Funding, pursuant to which Budget
Funding agrees to purchase the Series 1997-2 Notes from TFFC, subject to the
terms and conditions set forth therein, or any successor agreement to such
effect among TFFC, Budget and Budget Funding or its successor, as amended,
supplemented or otherwise modified from time to time.

         "Operating Lease" has the meaning specified in Annex A to the Series
1997-2 Lease.

         "Overcollateralization Enhancement Percentage" means, as of any day,
the excess of the (a) Weighted Average Credit Support Percentage as of such day
over (b) the L/C Percentage as of such day.

         "Permitted Investments" means negotiable instruments or securities
maturing on or before the related Distribution Date represented by instruments
in bearer or registered or in book entry form which evidence (i) obligations the
full and timely payment of which is to be made by or is fully guaranteed by the
United States of America; (ii) demand deposits, time deposits in, or
certificates of deposit issued by, any depositary institution or trust company
incorporated under the laws of the United States of America or any state thereof
and subject to supervision and examination by Federal or State banking or
depositary institution authorities; provided, however, that at the time of the
investment or contractual commitment to invest therein, the certificates of
deposit or short-term deposits, if any, or long-term unsecured debt obligations
(other than such obligation whose rating is based on collateral or on the credit
of a Person other than such institution or trust company) of such depositary
institution or trust company shall have a credit rating from Standard & Poor's
of A-1 and from Moody's of at least P-1, in the case of

                                       13
<PAGE>   17

certificates of deposit or short-term deposits, or a rating from Standard &
Poor's not lower than AA or from Moody's not lower than Aa3, in the case of
long-term unsecured debt obligations; (iii) commercial paper having, at the time
of the investment or contractual commitment to invest therein, a rating from
Standard & Poor's of at least A-1 and from Moody's of at least P-1; (iv) demand
deposits or time deposits which are fully insured by the Federal Deposit
Insurance Corporation; (v) bankers, acceptances issued by any depositary
institution or trust company described in clause (ii) above; (vi) investments in
money market funds rated AAm or AAmG by Standard & Poor's or otherwise approved
in writing by Standard & Poor's and a comparable rating from Moody's or
otherwise approved in writing by Moody's; (vii) Eurodollar time deposits having
a credit rating from Standard & Poor's of A-1 and from Moody's of at least P-1;
(viii) repurchase agreements involving any of the Permitted Investments
described in clauses (i) and (vii) above and the certificates of deposit
described in clause (ii) above which are entered into with a depository
institution or trust company, having a commercial paper or short-term
certificate of deposit rating of A-1 by Standard & Poor's and at least P-1 by
Moody's; and (ix) any other instruments or securities, if the Rating Agencies
confirm in writing that such investment in such instruments or securities will
not adversely affect any ratings with respect to any Series of Notes or the
Commercial Paper Notes.

         "Pre-Acquisition Period" means any period prior to the date of this
Series 1997-2 Supplement.

         "Principal Shortfall" has the meaning specified in Section 5.5(a).

         "Profits" means, for any Related Month, the sum of (without double
counting) (a) Disposition Proceeds received in respect of Non-Repurchase
Vehicles and Series 1997-2 Trucks leased under the Series 1997-2 Lease disposed
of during the Related Month that exceed the sum of the Net Book Values for such
Non-Repurchase Vehicles and Series 1997-2 Trucks and any amounts due and payable
under the Series 1997-2 Lease in respect of such Vehicles, plus (b) amounts
allocated under Section 5.2(d)(y)(iv) hereof.

         "Rating Agencies" means, with respect to the Commercial Paper Notes,
Standard & Poor's and Moody's.

         "Rating Agency Confirmation" means written confirmation by each Rating
Agency that the proposed action, amendment, waiver or modification will not
result in a downgrading or withdrawal of the then current rating on the
Commercial Paper Notes.

         "Recoveries" means, for any Related Month, the sum of Series 1997-2
Repurchase Recoveries and Series 1997-2 Non-Repurchase Recoveries.

         "Related Documents" means the collective reference to the documents
referred to in clause (i) of the definition of Related Documents in Schedule 1
to the Indenture, the Series 1997-2 Lease and the CP Program Documents as
defined in the Note Purchase Agreement.

         "Repurchase Program" means a program pursuant to which a Manufacturer
has agreed with a Lessee, Budget or TFFC to repurchase or guarantee the auction
sale price of Vehicles manufactured by it or one of its Affiliates during a
specified time period.

                                       14
<PAGE>   18

         "Required Letter of Credit Amount" means the Series 1997-2 Minimum
Credit Support Amount less the Available Subordinated Amount, but in no event
less than the Liquidity Amount.

         "Requisite Noteholders" means Series 1997-2 Noteholders holding more
than 50% or more of the Series 1997-2 Invested Amount.

         "SAAB" means SAAB Cars USA, Inc.

         "Segregated Repurchase Vehicle" means, with respect to the Series
1997-2 Notes, a passenger automobile, van or light truck subject to a Repurchase
Program at the time of its leasing under the Series 1997-2 Lease.

         "Series 1997-2 Accrued Interest Account" has the meaning specified in
Section 5.1(c) of this Supplement.

         "Series 1997-2 Aggregate Asset Amount" means, with respect to the
Series 1997-2 Notes, for any date of determination, the sum, rounded to the
nearest $100,000, of (i) the Series 1997-2 Aggregate Non-Repurchase Asset
Amount, (ii) the Series 1997-2 Aggregate Segregated Repurchase Asset Amount,
(iii) the Series 1997-2 Aggregate Truck Asset Amount, and (iv) cash and
Permitted Investments on deposit in the Series 1997-2 Collection Account and on
deposit in the Collection Account, if any, allocable to the Series 1997-2 Notes.

         "Series 1997-2 Aggregate Non-Repurchase Asset Amount" means, for any
date of determination, the sum, rounded to the nearest $100,000, of (i) the
lesser of (a) the Net Book Value of all Series 1997-2 Non-Repurchase Vehicles
leased under the Series 1997-2 Lease as of such date and (b) the Series 1997-2
Non-Repurchase Fleet Market Value, plus (ii) all amounts receivable as of such
date with respect to any Series 1997-2 Non-Repurchase Vehicles which have been
sold or deemed to be sold under the Related Documents other than any such
amounts which have become Losses plus (iii) with respect to any Series 1997-2
Non-Repurchase Vehicles that have been sold, any accrued and unpaid payments of
Base Rent and Additional Base Rent under the Series 1997-2 Lease with respect to
such Series 1997-2 Non-Repurchase Vehicles (net of amounts set forth in clause
(ii) above), other than any such amounts which have become Losses.

         "Series 1997-2 Aggregate Segregated Repurchase Asset Amount" means, for
any date of determination, the sum, rounded to the nearest $100,000, of (i) the
Net Book Value of all Series 1997-2 Segregated Repurchase Vehicles leased under
the Series 1997-2 Lease as of such date and not turned in to the Manufacturer
thereof pursuant to its Repurchase Program or not otherwise sold or deemed to be
sold under the Related Documents, plus (ii) all amounts (with certain limited
exceptions) receivable as of such date from Manufacturers under Repurchase
Programs with respect to Series 1997-2 Segregated Repurchase Vehicles turned in
to such Manufacturers pursuant to any such Repurchase Program or delivered to an
authorized auction, pursuant to any Repurchase Program, other than any such
amounts which have become Losses, plus (iii) all amounts receivable with respect
to the disposition of Series 1997-2 Segregated Repurchase Vehicles as of such
date from any other Person with respect to Series 1997-2 Segregated Repurchase
Vehicles, other than any such amounts which have become Losses, plus

                                       15
<PAGE>   19

(iv) with regard to Series 1997-2 Segregated Repurchase Vehicles that have been
turned in to the Manufacturer or otherwise sold, any accrued and unpaid Base
Rent under the Series 1997-2 Lease with respect to such Series 1997-2 Segregated
Repurchase Vehicles (net of amounts set forth in clauses (ii) and (iii) above),
other than any such amounts which have become Losses.

         "Series 1997-2 Aggregate Truck Asset Amount" means, for any date of
determination, the sum, rounded to the nearest $100,000, of (i) the lesser of
(a) the Net Book Value of all Series 1997-2 Trucks leased under the Series
1997-2 Lease as of such date and not turned in to the Manufacturer thereof
pursuant to its Repurchase Program or not otherwise sold or deemed to be sold
under the Related Documents and (b) the Series 1997-2 Truck Value, plus (ii) all
amounts receivable with respect to the disposition of Series 1997-2 Trucks as of
such date from any Person with respect to Series 1997-2 Trucks, other than any
such amounts which have become Losses, plus (iii) with regard to Series 1997-2
Trucks that have been turned in to the Manufacturer or otherwise sold, any
accrued and unpaid Base Rent under the Series 1997-2 Lease with respect to such
Series 1997-2 Trucks (net of amounts set forth in clause (ii) above), other than
any such amounts which have become Losses.

         "Series 1997-2 Asset Amount Deficiency" with respect to the Series
1997-2 Notes, will occur if, at any time, (a) the Series 1997-2 Required Asset
Amount exceeds the Series 1997-2 Aggregate Asset Amount or (b) the Net Book
Value of all Series 1997-2 Non-Repurchase Vehicles and Series 1997-2 Trucks then
leased under the Series 1997-2 Lease exceeds the Maximum Non-Repurchase
Percentage, the amount of any such Series 1997-2 Asset Amount Deficiency being
the greater of the amount of the deficiency in clause (a) or (b) above.

         "Series 1997-2 Available Subordinated Amount" means for any date of
determination, the excess of (a) the sum of (i) the Series 1997-2 Available
Subordinated Amount for the preceding Determination Date (or, in the case of the
initial Determination Date, as of the Series 1997-2 Issuance Date), (ii) the
Series 1997-2 Available Subordinated Amount Incremental Recoveries for the
Related Month and (iii) any other additional amounts contributed by TFFC to the
Series 1997-2 Collection Account or otherwise for allocation to the Series
1997-2 Available Subordinated Amount since the preceding Determination Date (or,
in the case of the first Determination Date, since the Series 1997-2 Issuance
Date) over (b) the sum of (i) the Series 1997-2 Available Subordinated Amount
Incremental Losses for the Related Month and (ii) any amounts withdrawn from the
Series 1997-2 Collection Account and allocated to the Team Distribution Account;
provided, however, that the Series 1997-2 Available Subordinated Amount for the
period from the Series 1997-2 Issuance Date to the first Determination Date
shall be zero.

         "Series 1997-2 Available Subordinated Amount Incremental Losses" means
for any Related Month, the sum of all Losses that became Losses during such
Related Month and which were allocated to the Series 1997-2 Available
Subordinated Amount pursuant to Section 5.2(d) hereof.

         "Series 1997-2 Available Subordinated Amount Incremental Recoveries"
means, for any Related Month, the sum of all Recoveries that became Recoveries
during such Related Month and which were allocated to the Series 1997-2
Available Subordinated Amount pursuant to Section 5.2(d) hereof.

                                       16
<PAGE>   20
         "Series 1997-2 Available Subordinated Amount Maximum Increase" means
$8,758,575; provided, however, if (i) a Series 1997-2 Credit Support Deficiency
arises out of any Losses and (ii) each Rating Agency shall have notified TFFC,
Budget and the Trustee in writing that after the cure of such Series 1997-2
Credit Support Deficiency is provided for, the Series 1997-2 Notes or the
Commercial Paper Notes will receive the same rating from the applicable Rating
Agency as they received prior to the occurrence of such Series 1997-2 Credit
Support Deficiency, then the Series 1997-2 Available Subordinated Amount Maximum
Increase shall not be limited in amount.

         "Series 1997-2 Carrying Charges" means, as of any day, (i) the
aggregate of all Trustee Fees, servicing fees (other than supplemental servicing
fees) and other fees and expenses and indemnity amounts, if any, payable by the
Lessor or the Servicer under the Indenture, the Note Purchase Agreement or the
Related Documents which have accrued with respect to the Series 1997-2 Notes
during the Related Month, plus (ii) without duplication, all amounts payable by
the Lessees pursuant to Section 14 of the Series 1997-2 Lease which have accrued
during the Related Month.

         "Series 1997-2 Collateral" is defined in Section 3.1(a) of this
Supplement.

         "Series 1997-2 Collection Account" is defined in Section 5.1(b) of this
Supplement.

         "Series 1997-2 Collections" means (a) all payments made under the
1997-2 Lease, (b) all Credit Draws under the Letter of Credit and withdrawals
from the Cash Collateral Account, (c) all Disposition Proceeds, Repurchase
Prices and Guaranteed Payments on Series 1997-2 Vehicles, (d) any insurance
proceeds or other payments with respect to the Series 1997-2 Vehicles (e) all
payments made by a Hedge Counterparty to the Trustee under any Series 1997-2
Hedge Agreement and (f) all amounts earned on Permitted Investments allocable to
Series 1997-2 Collections arising out of funds on deposit in the Collection
Account allocable to the Series 1997-2 Notes and funds on deposit in the Series
1997-2 Collection Account; provided that, in the case of amounts in clauses (c)
and (d), such amounts shall be allocated to the Series 1997-2 Vehicles in
accordance with the terms hereof and the Servicer's normal practices and
procedures for determining and allocating vehicle proceeds.

         "Series 1997-2 Controlled Amortization Amount" means with respect to
any Related Month during the Series 1997-2 Controlled Amortization Period, an
amount equal to one-twelfth of the Series 1997-2 Invested Amount on the date the
Series 1997-2 Controlled Amortization Period commences.

         "Series 1997-2 Controlled Amortization Period" means the period
commencing at the close of business on June 19, 2002 (or such later date as
shall be agreed to in writing by the Liquidity Agent, on behalf of the Liquidity
Lenders and by the Issuer) and continuing to the earliest of (i) the
commencement of the Series 1997-2 Rapid Amortization Period, (ii) the date on
which the Series 1997-2 Notes are fully paid, (iii) the Series 1997-2
Termination Date, and (iv) the termination of the Indenture.

         "Series 1997-2 Controlled Liquidity Amortization Amount" means (a) with
respect to the first three Related Months during the Series 1997-2 Controlled
Liquidity Amortization Period, an

                                       17
<PAGE>   21

amount equal to the lesser of (i) one-third of the sum of the aggregate
principal amount of Commitment Termination Date Liquidity Advances and the
Budget Funding Reimbursement Share of LOC Termination Disbursements outstanding
on the first day of such Series 1997-2 Controlled Liquidity Amortization Period,
and (ii) the sum of the aggregate amount of Commitment Termination Date
Liquidity Advances and the Budget Funding Reimbursement Share of LOC Termination
Disbursements outstanding as of the end of the Related Month, and (b) with
respect to each other Related Month during the Series 1997-2 Controlled
Liquidity Amortization Period, an amount equal to the sum of the aggregate
principal amount of Commitment Termination Date Liquidity Advances and the
Budget Funding Reimbursement Share of LOC Termination Disbursements outstanding
as of the end of the Related Month.

         "Series 1997-2 Controlled Liquidity Amortization Period" means the
period commencing on the first day of the third full Related Month to occur
following the date a Commitment Termination Date Liquidity Advance is made after
June 20, 2001 pursuant to the terms of the Liquidity Agreement or an LOC
Termination Disbursement is made, all or a portion of which is due and payable
by Budget Funding, after June 20, 2001 under the Letter of Credit, and ending on
the earliest to occur of (i) the Series 1997-2 Controlled Amortization Period,
(ii) the Series 1997-2 Rapid Amortization Period, and (iii) the payment in full
of all Commitment Termination Date Liquidity Advances outstanding as of the
commencement of the Series 1997-2 Controlled Liquidity Amortization Period.

         "Series 1997-2 Controlled Liquidity Termination Date" means the
December 2002 Distribution Date, as such date may be extended in writing by
Budget Funding, each Liquidity Lender with a Commitment Termination Date
Liquidity Advance outstanding and, if the Budget Funding Reimbursement Share of
an LOC Termination Disbursement is outstanding, the Letter of Credit Provider.

         "Series 1997-2 Credit Support Amount" means, for any date of
determination, the Series 1997-2 Available Subordinated Amount plus the Letter
of Credit Amount.

         "Series 1997-2 Credit Support Deficiency" means, with respect to any
date of determination, the amount, if any, by which the Series 1997-2 Minimum
Credit Support Amount exceeds the Series 1997-2 Credit Support Amount.

         "Series 1997-2 Disposition Losses" means, for any Related Month, the
sum of the amount in clause (b) of the definition of Series 1997-2 Repurchase
Losses and the amount in clause (b) of the definition of Series 1997-2
Non-Repurchase Losses.

         "Series 1997-2 Distribution Account" has the meaning specified in
Section 5.7(a) of this Supplement.

         "Series 1997-2 Hedge Agreement" means an agreement intended to hedge
the interest expense of TFFC with respect to the Series 1997-2 Notes, such as an
interest rate cap or swap agreement, in form and substance acceptable to the
Liquidity Agent.

         "Series 1997-2 Distribution Account Collateral" has the meaning
specified in Section 5.7(d) of this Supplement.

                                       18
<PAGE>   22

         "Series 1997-2 Interest Allocation" has the meaning specified in
Section 5.2(a)(x)(i) of this Supplement.

         "Series 1997-2 Interest Period" means, with respect to any
Determination Date, Distribution Date or other date, the Related Month;
provided, however, that the initial Series 1997-2 Interest Period shall commence
on the Series 1997-2 Issuance Date and end on May 19, 1997, and the second
Series 1997-2 Interest Period shall commence on May 20, 1997 and end on May 25,
1997.

         "Series 1997-2 Invested Amount" means, when used with respect to any
date, an amount equal to (a) the Initial Invested Amount minus (b) the amount of
principal payments made to Series 1997-2 Noteholders and Decreases on or prior
to such date minus (c) all Losses allocated to the Series 1997-2 Invested Amount
on or prior to such date plus (d) all Recoveries allocated to the Series 1997-2
Invested Amount on or prior to such date plus (e) all Increases on or prior to
such date.

         "Series 1997-2 Investor Monthly Servicing Fee" means, on any
Distribution Date, one-twelfth of 1% of the Series 1997-2 Invested Amount as of
the preceding Distribution Date (or, in the case of the initial Distribution
Date, the Series 1997-2 Issuance Date).

         "Series 1997-2 Issuance Date" means April 29, 1997.

         "Series 1997-2 Lease" means the Non-Repurchase Vehicle Lease, dated as
of the date hereof, executed in connection with the issuance of the Series
1997-2 Notes, among TFFC, as lessor, certain subsidiaries and affiliates of
Budget and certain non-affiliates of Budget, as lessees, and Budget, as
guarantor, as amended, supplemented or otherwise modified from time to time.

         "Series 1997-2 Lease Advance" has the meaning specified in Section
2.1(a) of the Series 1997-2 Lease.

         "Series 1997-2 Lease Payment Deficit" means, for any Related Month, an
amount equal to (a) the excess, if any, of (i) the aggregate amount of payments
required to be made under the 1997-2 Lease with respect to the Related Month,
over (ii) the aggregate amount of payments actually made under the 1997-2 Lease
during the Related Month minus (b) an amount equal to 60% of the aggregate
Casualty Payments due and unpaid on the related Payment Date with respect to
Lessor-Owned Vehicles which during the Related Month have become Casualties as a
result of an event described in clause (i), (ii) or (iii) of the definition of
"Casualty", minus (c) an amount equal to 60% of the portion of the Monthly
Supplemental Payment due and unpaid on the related Payment Date in respect of
Financed Vehicles which during the Related Month have become Casualties as a
result of an event described in clause (i), (ii) or (iii) of the definition of
"Casualty", (without duplication of amounts specified in clause (a) above),
minus (d) an amount equal to 85% of the portion of all Monthly Supplemental
Payments due and unpaid on the related Payment Date in respect of Series 1997
Non-Repurchase Vehicles pursuant to Section 16.2 of the Series 1997-2 Lease
(without duplication of amounts specified in (a), (b) and (c) above), minus (e)
an amount equal to 90.50% of the portion of all Monthly Supplemental Payments
due and unpaid on the related Payment Date in respect of Series 1997-2
Segregated Repurchase

                                       19
<PAGE>   23

Vehicles pursuant to Section 16.2 of the Series 1997-2 Lease (without
duplication of amounts specified in (b) and (c) above).

         "Series 1997-2 Limited Liquidation Event of Default" means, so long as
such event or condition continues, any event or condition of the type specified
in Section 7(a) of this Supplement that continues for thirty (30) days (without
double counting the one (1) Business Day cure period provided for in said
Section 7(a)); provided, however, that such event or condition shall not
constitute a Series 1997-2 Limited Liquidation Event of Default if (i) within
such thirty (30) day period, TFFC shall have contributed a portion of the Team
Interest to the Series 1997-2 Available Subordinated Amount sufficient to cure
the Series 1997-2 Credit Support Deficiency and (ii) the Rating Agency shall
have notified TFFC, Budget and the Trustee in writing that after such cure of
such Series 1997-2 Credit Support Deficiency is provided for, the Series 1997-2
Notes or the Commercial Paper Notes will each receive the same rating from the
Rating Agency as they received prior to the occurrence of such Series 1997-2
Credit Support Deficiency.

         "Series 1997-2 Maximum Invested Amount" shall have the meaning set
forth therefor in Section 4.1 hereof.

         "Series 1997-2 Minimum Credit Support Amount" means, as of any date,
the sum of (a) the Minimum Non-Repurchase Credit Support Amount on such date,
plus (b) the Minimum Repurchase Credit Support Amount on such date, plus (c) the
Minimum Truck Credit Support Amount, plus (d) the Additional
Overcollateralization Amount on such date.

         "Series 1997-2 Minimum Non-Repurchase Credit Support Percentage" means,
with respect to any date of determination, the greater of (a) 20.50% and (b) an
amount equal to (i) 100% minus (ii) an amount equal to the lowest Measurement
Month Average of any full Measurement Month within the preceding twelve calendar
months minus 20.50%.

         "Series 1997-2 Minimum Segregated Repurchase Credit Support Percentage"
means, with respect to any date of determination, an amount equal to 16.00%.

         "Series 1997-2 Minimum Truck Credit Support Percentage" means, with
respect to any date of determination, the greater of (a) 21.00% and (b) an
amount equal to (i) 100% minus (ii) an amount equal to the lowest Truck
Measurement Month Average of any full Truck Measurement Month within the
preceding twelve calendar months, minus 21.00%.

         "Series 1997-2 Monthly Supplemental Servicing Fee" means, on any
Distribution Date, the product of (a) the Supplemental Servicing Fee accrued on
such date and (b) a fraction, the numerator of which shall be the Series 1997-2
Invested Amount on such Distribution Date and the denominator of which shall be
the sum of (i) the aggregate of the invested amounts for all outstanding Series
of Notes on such Distribution Date plus (ii) the Team Interest (including
available subordinated amounts, if any, for all Series).

         "Series 1997-2 Non-Repurchase Fleet Market Value" means, with respect
to all Series 1997-2 Non-Repurchase Vehicles as of any date of determination,
the sum of the respective Fair Market Values of each Series 1997-2
Non-Repurchase Vehicle.

                                       20
<PAGE>   24

         "Series 1997-2 Non-Repurchase Losses" means, with respect to any
Related Month, the sum of (without duplication) (a) any payment in respect of
Monthly Base Rent and Additional Base Rent that has become due to the Lessor
under the Series 1997-2 Lease in respect of Non-Repurchase Vehicles and Series
1997-2 Trucks that is not paid to TFFC or the Trustee prior to the expiration of
any grace period provided for in the Series 1997-2 Lease for the making of such
payment, but only if such grace period, if any, expires during such Related
Month, and (b) the aggregate amount for all Non-Repurchase Vehicles and Series
1997-2 Trucks leased under the Series 1997-2 Lease being disposed of during the
Related Month, of the amount by which the Net Book Value of any such
Non-Repurchase Vehicle or Series 1997-2 Truck exceeds the Disposition Proceeds
related to such Non-Repurchase Vehicle or Series 1997-2 Truck, plus any amounts
due and unpaid under the Series 1997-2 Lease as of the end of the Related Month
with respect to such Non-Repurchase Vehicle or Series 1997-2 Truck, such
aggregate amount being net of all Profits on all Non-Repurchase Vehicles and
Series 1997-2 Trucks leased under the Series 1997-2 Lease and being disposed of
during such Related Month.

         "Series 1997-2 Non-Repurchase Percentage" means, on any date of
determination, the percentage equivalent of a fraction, the numerator of which
will be the aggregate Non-Repurchase Vehicle Value of all Series 1997-2
Non-Repurchase Vehicles as of such date and the denominator of which will be the
sum of the aggregate Net Book Value of all Series 1997-2 Segregated Repurchase
Vehicles, the aggregate Non-Repurchase Vehicle Values of all Series 1997-2
Non-Repurchase Vehicles as of such date and the aggregate Series 1997-2 Truck
Values of all Series 1997-2 Trucks as of such date.

         "Series 1997-2 Non-Repurchase Recoveries" means, with respect to any
Related Month, the sum of (without duplication) all amounts received during such
Related Month by TFFC or the Trustee (including deposits into the Collection
Account and Series 1997-2 Collection Account) from any source (other than the
Letter of Credit or Cash Collateral Account) in respect of Series 1997-2
Non-Repurchase Losses, as determined by the Servicer consistent with its methods
of tracking and allocating to vehicles and Series, Disposition Proceeds,
Guaranteed Payments, Repurchase Prices, insurance proceeds and other proceeds of
such Vehicles.

         "Series 1997-2 Non-Repurchase Vehicles" means the Non-Repurchase
Vehicles leased under the Series 1997-2 Lease.

         "Series 1997-2 Noteholder" means the Person in whose name a Series
1997-2 Note is registered in the Note Register.

         "Series 1997-2 Note Interest" means, with respect to any Distribution
Date, the sum of the Daily Interest Amounts for each day in the related Series
1997-2 Interest Period, plus all previously accrued and unpaid Series 1997-2
Note Interest (together with interest on such unpaid amounts at the Series
1997-2 Note Rate).

         "Series 1997-2 Note Rate" means, for any Series 1997-2 Interest Period,
the weighted average of the CP Rates for the portion of the Series 1997-2
Invested Amount comprised of all or a portion of the CP Tranche and the weighted
average of the Eurodollar Rate applicable to the portion of the Series 1997-2
Invested Amount comprised of all or a portion of the Eurodollar Tranche and the
weighted average of the Base Rates applicable to the portion of the Series
1997-2

                                       21
<PAGE>   25

Invested Amount comprised of all or a portion of the Base Rate Tranche,
as such capitalized terms not otherwise defined herein are defined in the Note
Purchase Agreement; provided, however, that the Series 1997-2 Note Rate will in
no event be higher than the maximum rate permitted by applicable law. The
Liquidity Agent will notify the Trustee and the Servicer in writing regarding
the Series 1997-2 Note Rate on or prior to the related Determination Date
pursuant to Section 4.4(b) of the Liquidity Agreement.

         "Series 1997-2 Notes" means any one of the Variable Funding Rental Car
Asset Backed Notes executed by TFFC and authenticated and delivered by or on
behalf of the Trustee, substantially in the form of Exhibit A. Definitive Series
1997-2 Notes shall have such insertions and deletions as are necessary to give
effect to the provisions of Section 2.18 of the Base Indenture.

         "Series 1997-2 Rapid Amortization Period" means the period beginning at
the close of business on the Business Day immediately preceding the day on which
an Amortization Event is deemed to have occurred with respect to the Series
1997-2 Notes and ending upon the earliest to occur of (i) the date on which the
Series 1997-2 Notes are fully paid, (ii) the Series 1997-2 Termination Date and
(iii) the termination of the Indenture.

         "Series 1997-2 Rated Note Interest" means with respect to any
Distribution Date, an amount equal to the lesser of (a) the Series 1997-2 Note
Interest and (b) the weighted average Series 1997-2 Invested Amount over the
related Series 1997-2 Interest Period, times 7.25% per annum, times a fraction,
the numerator of which is the actual number of days elapsed in the Series 1997-2
Interest Period and the denominator of which is 360.

         "Series 1997-2 Repurchase Amount" has the meaning specified in Article
8 of this Supplement.

         "Series 1997-2 Repurchase Losses" means, with respect to any Related
Month, the sum of (without duplication) (a) any payment in respect of Monthly
Base Rent and Additional Base Rent that has become due to the Lessor under the
Series 1997-2 Lease in respect of Repurchase Vehicles that is not paid to TFFC
or the Trustee prior to the expiration of any grace period provided for in the
Series 1997-2 Lease for the making of such payment, but only if such grace
period, if any, expires during such Related Month and (b) the amount owed by any
Manufacturer under an Eligible Repurchase Program with respect to Repurchase
Vehicles leased under the 1997-2 Lease that remains unpaid after 90 days from
the Turnback Date for such Vehicle, but only if such 90-day period expires
during such Related Month.

         "Series 1997-2 Repurchase Recoveries" means, with respect to any
Related Month, the sum of (without duplication) all amounts received during such
Related Month by TFFC or the Trustee (including deposits into the Collection
Account) from any source (other than the Letter of Credit or Cash Collateral
Account) in respect of Series 1997-2 Repurchase Losses, as determined by the
Servicer consistent with its methods of tracking and allocating to vehicles and
Series, Disposition Proceeds, Guaranteed Payments, Repurchase Prices, insurance
proceeds and other proceeds of such Vehicles.

                                       22
<PAGE>   26

         "Series 1997-2 Required Asset Amount" means, at any time, the quotient
of (a) the Series 1997-2 Invested Amount at such time divided by (b) an amount
equal to (i) one hundred percent minus (ii) the excess of (x) the Enhancement
Percentage at such time over (y) the L/C Percentage.

         "Series 1997-2 Required Subordinated Amount" means at any time the
Series 1997-2 Minimum Credit Support Amount minus the Letter of Credit Amount.

         "Series 1997-2 Revolving Period" means the period from and including
the Series 1997-2 Issuance Date to the earlier of (i) the commencement of the
Series 1997-2 Controlled Amortization Period and (ii) the commencement of the
Series 1997-2 Rapid Amortization Period.

         "Series 1997-2 Segregated Repurchase Percentage" means, on any date of
determination, the percentage equivalent of a fraction, the numerator of which
will be the aggregate Net Book Value of all Series 1997-2 Segregated Repurchase
Vehicles as of such date and the denominator of which will be the sum of the
aggregate Net Book Value of all Series 1997-2 Segregated Repurchase Vehicles and
the aggregate Non-Repurchase Vehicle Value of all Series 1997-2 Non-Repurchase
Vehicles as of such date.

         "Series 1997-2 Segregated Repurchase Vehicles" means the Segregated
Repurchase Vehicles leased under the Series 1997-2 Lease.

         "Series 1997-2 Termination Date" means the June, 2003 Distribution
Date.

         "Series 1997-2 TFFC Agreements" has the meaning specified in Section
3.1(a)(i) of this Supplement.

         "Series 1997-2 Trucks" means all medium duty trucks (grades 3 through
7) leased under the Series 1997-2 Lease.

         "Series 1997-2 Truck Percentage" means, on any date of determination,
the percentage equivalent of a fraction, the numerator of which will be the
aggregate Series 1997-2 Truck Value of all Series 1997-2 Trucks as of such date
and the denominator of which will be the sum of the aggregate Net Book Value of
all Series 1997-2 Segregated Repurchase Vehicles, the aggregate Non-Repurchase
Vehicle Value of all Series 1997-2 Non Repurchase Vehicles as of such date and
the Series 1997-2 Truck Values of all Series 1997-2 Trucks.

         "Series 1997-2 Truck Value" means, with respect to any Series 1997-2
Truck, the greater of the Net Book Value of such Series 1997-2 Truck and (b) the
Fair Market Value of such Series 1997-2 Truck.

         "Series 1997-2 Vehicles" means Series 1997-2 Segregated Repurchase
Vehicles and Series 1997-2 Non-Repurchase Vehicles.

         "Series 1997-2 Waiver Deficiency Adjustment Prepayments" has the
meaning set forth in Section 6.2(a) of this Supplement.

                                       23
<PAGE>   27

         "Servicer" means Budget Group, Inc. or any successor servicer
hereunder.

         "Subordinated Note" means the note from BRACC to TFFC evidencing
indebtedness owed to TFFC in respect of loans made by TFFC out of Profits.

         "Termination Value" means, with respect to any Vehicle, as of any date,
an amount equal to (i) the Capitalized Cost of such Vehicle minus (ii) all
Depreciation Charges accrued with respect to such Vehicle prior to such date.

         "Texas Vehicle" means an Eligible Repurchase Vehicle or an Eligible
Non-Repurchase Vehicle acquired on or after the Lease Commencement Date for
lease in the State of Texas.

         "TFFC Agreements" means the collective reference to the documents
referred to in clause (i) of the definition of TFFC Agreements in Schedule 1 to
the Indenture and the Series 1997-2 TFFC Agreements.

         "Total Fixed Charges" means, for any period, the sum of (i) Aggregate
Interest Expense for such period, and (ii) capital expenditures for plant and
equipment (excluding revenue-earning assets) of Budget and its Consolidated
Subsidiaries, determined on a consolidated basis, for such period.

         "Toyota" means Toyota Motor Sales, U.S.A., Inc.

         "Transaction" has the meaning set forth in the Credit Agreement.

         "Truck Measurement Month" with respect to any date, means each calendar
month, or the smallest number of consecutive calendar months, preceding such
date in which (a) at least 25 Series 1997-2 Trucks were sold at auction and (b)
at least one-twelfth of the aggregate Net Book Value of the Series 1997-2 Trucks
as of the last day of such calendar month or consecutive calendar months were
sold at auction; provided, however, that no calendar month included in a Truck
Measurement Month shall be included in any other Truck Measurement Month.

         "Truck Measurement Month Average" means, with respect to any Truck
Measurement Month, the percentage equivalent of a fraction, the numerator of
which is the aggregate amount of Disposition Proceeds and Termination Payments
of all Series 1997-2 Trucks sold at auction or otherwise during such Truck
Measurement Month and the denominator of which is the aggregate Net Book Value
of such Series 1997-2 Trucks on the dates of their respective sales.

         "Turnback Date" means, with respect to any Series 1997-2 Repurchase
Vehicle, the date on which such Vehicle is accepted for return by a Manufacturer
or its agent pursuant to its Repurchase Program and the Depreciation Charges
cease to accrue pursuant to its Repurchase Program.

         "Vehicle" means a passenger automobile, van, light truck or truck
(grade 3 through 7) purchased or financed by TFFC and leased to a Lessee
pursuant to the Series 1997-2 Lease.

         "Voluntary Decrease" has the meaning specified in Section 4.3(b).

                                       24
<PAGE>   28

         "VFR" with respect to the Series 1997-2 Lease, is defined in Paragraph
9 of Annex A to the Series 1997-2 Lease and in Paragraph 6 of Annex B to the
Series 1997-2 Lease.

         "Waiver Deficiency" means, as of the applicable Consent Period
Expiration Date, an amount, if greater than zero, calculated in accordance with
the following formula:

                                      (CA x MSA) - (ASA x A)
                  Waiver Deficiency = ----------------------
                                                MSA

where "A" refers to the Series 1997-2 Invested Amount, "MSA" refers to the
Series 1997-2 Minimum Credit Support Amount, "CA" refers to the invested amount
of the Notes of the consenting Series 1997-2 Noteholders and "ASA" refers to the
Series 1997-2 Available Subordinated Amount, in each case as of such Consent
Period Expiration Date.

         "Weighted Average Credit Support Percentage" means, with respect to the
Series 1997-2 Notes on any day, the percentage equivalent of a fraction, (a) the
numerator of which is the sum of (i) the Minimum Non-Repurchase Credit Support
Amount, (ii) the Minimum Repurchase Credit Support Amount and (iii) the Minimum
Truck Credit Support Amount, and (b) the denominator of which is the Series
1997-2 Invested Amount on such date.

                                  ARTICLE III.

                           SECURITY; REPORTS; COVENANT

         Section 3.1    Grant of Security Interest.

         (a)       To secure the Series 1997-2 Notes, TFFC hereby pledges,
assigns, conveys, delivers, transfers and sets over to the Trustee, for the
benefit of the Series 1997-2 Noteholders and the holder of the Team Interest
(the Series 1997-2 Noteholders and the holder of the Team Interest being
referred to in this Section 3.1 as the "Secured Parties"), and hereby grants to
the Trustee, for the benefit of the Secured Parties, a security interest in all
of TFFC's right, title and interest in and to all of the following assets,
property and interests of TFFC (other than as specified below) whether now owned
or hereafter acquired or created (all of the foregoing, other than with respect
to clause (v) below, being referred to as the "Series 1997-2 Collateral"):

                  (i)       the rights of TFFC under the Series 1997-2 Lease
         (including rights against any guarantor of obligations of the Lessees
         thereunder) and any other agreements to which TFFC is a party other
         than the Repurchase Programs (collectively, the "Series 1997-2 TFFC
         Agreements"), including, without limitation, all monies due and to
         become due to TFFC from Budget and the Lessees under or in connection
         with the TFFC Agreements, whether payable as rent, guaranty payments,
         fees, expenses, costs, indemnities, insurance recoveries, damages for
         the breach of any of the Series 1997-2 TFFC Agreements or otherwise,
         and all rights, remedies, powers, privileges and claims of TFFC against
         any other party under or with respect to the Series 1997-2 TFFC
         Agreements (whether arising pursuant to the terms of such Series 1997-2
         TFFC Agreements or otherwise available to TFFC at law or in equity),
         including the right to enforce any of the Series 1997-2 TFFC Agreements
         as provided herein and to give or

                                       25
<PAGE>   29

         withhold any and all consents, requests, notices, directions,
         approvals, extensions or waivers under or with respect to the Series
         1997-2 TFFC Agreements or the obligations of any party thereunder;

                 (ii)     (a) all Series 1997-2 Segregated Repurchase Vehicles
         owned by TFFC or the Lessees as of the Series 1997-2 Issuance Date and
         all Series 1997-2 Segregated Repurchase Vehicles acquired by TFFC or
         the Lessees during the term of the Indenture, and all Certificates of
         Title with respect to such Vehicles, (b) all Series 1997-2
         Non-Repurchase Vehicles and Series 1997-2 Trucks owned by TFFC or the
         Lessees as of the Series 1997-2 Issuance Date and all Series 1997-2
         Non-Repurchase Vehicles and Series 1997-2 Trucks acquired by TFFC or
         the Lessees during the term of the Indenture, and all Certificates of
         Title with respect to such Vehicles, (c) all Liens and property from
         time to time purporting to secure payment of any of the obligations or
         liabilities of the Lessees or Budget arising under or in connection
         with the Series 1997-2 Lease, together with all financing statements
         filed in favor of, or assigned to, TFFC describing any collateral
         securing such obligations or liabilities, and (d) all guarantees,
         insurance and other agreements or arrangements of whatever character
         from time to time supporting or securing payment of such obligations
         and liabilities of the Lessees or Budget pursuant to the Series 1997-2
         Lease;

                  (iii)    all right, title and interest of TFFC in, to and
         under any Repurchase Programs relating to, and all monies due and to
         become due in respect of, the Series 1997-2 Segregated Repurchase
         Vehicles and Series 1997-2 Trucks purchased from the Manufacturers
         under or in connection with the Repurchase Programs whether payable as
         Repurchase Vehicle repurchase prices, fees, expenses, costs,
         indemnities, insurance recoveries, damages for breach of the Repurchase
         Programs or otherwise;

                  (iv)     (a) the Collection Account and the Series 1997-2
         Collection Account, (b) all funds on deposit therein allocable to
         Series 1997-2 Vehicles from time to time, (c) all certificates and
         instruments, if any, representing or evidencing any or all of the
         Collection Account or the funds on deposit therein allocable to Series
         1997-2 Vehicles from time to time, and (d) all Permitted Investments
         made at any time and from time to time with the moneys allocable to
         Series 1997-2 Vehicles in the Collection Account or the Series 1997-2
         Collection Account (including in each case income thereon);

                 (v)        the Demand Note and the Subordinated Note;

                 (vi)       the Letter of Credit; and

                 (vii)      all proceeds of any and all of the foregoing
         including, without limitation, payments under insurance (whether or not
         the Trustee is the loss payee thereof) and cash, but not including (for
         the avoidance of doubt) payments under consumer rental agreements;

provided, however, the Series 1997-2 Collateral shall not include (a) any
Excluded Payments or (b) the Team Distribution Account, any funds on deposit
therein from time to time, any certificates or instruments, if any, representing
or evidencing any or all of the Team Distribution

                                       26
<PAGE>   30

Account or the funds on deposit therein from time to time, or any Permitted
Investments made at any time and from time to time with the moneys in the Team
Distribution Account(including the income thereon).

         Section 3.2       Reports. Not later than the second business Day
immediately preceding each Distribution Date, the Servicer shall furnish to the
Trustee a Monthly Servicer's Certificate (which shall include the Liquidity
Amount as of the last Business Day of the Related Month) and a Fleet Report with
respect to the Series 1997-2 Collateral.

         Section 3.3        Auction Acquired Vehicles. TFFC shall not acquire
any Auction Acquired Vehicle for which it does not have a new Certificate of
Title if after giving effect to such acquisition the aggregate Net Book Value of
all such Auction Acquired Vehicles without a new Certificate of Title exceeds 5%
of the Series 1997-2 Aggregate Asset Amount.

         Section 3.4        Series 1997-2 Minimum Non-Repurchase Credit Support
Percentage. TFFC shall not acquire any Series 1997-2 Non-Repurchase Vehicle if,
after giving effect to the acquisition of such Vehicle, the Series 1997-2
Minimum Non-Repurchase Credit Support Percentage would exceed 30.0%.

Section 3.5       Series 1997-2 Hedge Agreement.

           Upon written request of the Liquidity Agent, upon instruction from
the Required Liquidity Lenders, at any time the Eurodollar Rate (Reserve
Adjusted) equals or exceeds 5.00% per annum, TFFC shall obtain and maintain a
Series 1997-2 Hedge Agreement the beneficiary under which shall be the Trustee
on behalf of the Series 1997-2 Noteholders that is in form and substance
acceptable to the Liquidity Agent. TFFC shall obtain any funds necessary to
purchase such Series 1997-2 Hedge Agreement by causing the Trustee to make a
claim under the Demand Note in the requisite amount and to apply the proceeds of
such demand to the purchase of the Series 1997-2 Hedge Agreement. Such Series
1997-2 Hedge Agreement shall require the hedge counterparty to make payments
into the Series 1997-2 Collection Account, to the extent Eurodollar Rate
(Reserve Adjusted) exceeds 6.00% per annum, on a monthly basis no later than
12:00 noon (New York City Time) on the Business Day preceding the Distribution
Date for such month. Any such Series 1997-2 Hedge Agreement may only be amended
with the prior written consent of TFFC and the Liquidity Agent.

                                  ARTICLE IV.

                 INITIAL ISSUANCE AND INCREASES AND DECREASES OF
              SERIES 1997-2 INVESTED AMOUNT OF SERIES 1997-2 NOTES

         Section 4.1        Issuance in Definitive Form. Pursuant to Section
2.18 of the Base Indenture, upon request by the Note Purchaser, TFFC hereby
consents to the issuance of the Series 1997-2 Notes in the form of Definitive
Notes. The Series 1997-2 Notes shall initially be sold to investors in reliance
on an exemption from the registration requirements of the Securities Act, and
shall be issued in the form of one or more Definitive Notes, in fully registered
form without interest coupons, substantially in the form attached hereto as
Exhibit A, with such

                                       27
<PAGE>   31

legends as may be applicable thereto, duly executed by TFFC and authenticated by
the Trustee as provided in Section 2.4 of the Base Indenture, in an aggregate
stated principal amount of up to $477,413,701, or such other amount as shall be
agreed to by TFFC and the Note Purchaser and which does not exceed the Aggregate
Liquidity Commitment plus Letter of Credit Amount available to the Note
Purchaser (the "Series 1997-2 Maximum Invested Amount"). The aggregate principal
amount of the Series 1997-2 Notes outstanding may not exceed such amounts.

         Section 4.2       Procedure for Increasing the Invested Amount.

         (a)       Subject to satisfaction of the conditions precedent set forth
in subsection (b) of this Section 4.2 (as evidenced by an Officer's Certificate
of the Servicer delivered to the Trustee), on the Series 1997-2 Issuance Date,
TFFC may issue Series 1997-2 Notes in the stated amount described in Section
4.1, the initial aggregate principal amounts of which will be equal to the
Initial Invested Amount. Such Series 1997-2 Notes shall be issued to Budget
Funding. On the Series 1997-2 Issuance Date and thereafter on each Increase Date
during the Revolving Period, TFFC may, upon request by Budget under the Series
1997-2 Lease and upon not less than one Business Day's prior written notice by
TFFC to Budget Funding (such notice specifying the applicable Increase Date),
increase the Series 1997-2 Invested Amount (each such increase referred to as an
"Increase") by issuing, at par, additional Series 1997-2 Invested Amount of
Series 1997-2 Notes in amounts that satisfy the following requirements: (i) the
portion of the Increase represented by additional Series 1997-2 Invested Amount
shall be such that the Series 1997-2 Credit Support Amount shall at least equal
the Series 1997-2 Minimum Credit Support Amount after giving effect to such
Increase in the Series 1997-2 Invested Amount and the application of the
proceeds thereof to leasing Vehicles; and (ii) no Series 1997-2 Asset Amount
Deficiency will result from such Increase. Satisfaction of the above conditions
shall be evidenced by the delivery of a certificate from the Servicer to such
effect. Proceeds from any Increase shall be deposited into the Series 1997-2
Collection Account and allocated in accordance with Article 5 hereof. Upon each
Increase, the Trustee shall, or shall cause the Note Registrar to, indicate in
the Note Register such Increase.

         (b)       The Series 1997-2 Invested Amount may be increased pursuant
to subsection (a) above only upon satisfaction of each of the following
conditions (as evidenced by an Officers' Certificate delivered by TFFC to the
Trustee) with respect to each proposed Increase:

                  (i)      The amount of such Increase shall be equal to or
         greater than $100,000;

                  (ii)     After giving effect to such Increase, the Series
         1997-2 Invested Amount shall not exceed the Series 1997-2 Maximum
         Invested Amount;

                  (iii)    There shall not then exist, nor shall such Increase
         result in the occurrence of, (x) an Amortization Event, a Liquidation
         Event of Default or a Series 1997-2 Limited Liquidation Event of
         Default, or (y) an event or occurrence, which, with the passing of time
         or the giving of notice thereof, or both, would become an Amortization
         Event, a Liquidation Event of Default or a Series 1997-2 Limited
         Liquidation Event of Default;

                                       28
<PAGE>   32

                  (iv)     All conditions precedent (1) to the acquisition of
         additional Vehicles under the Series 1997-2 Lease, (2) to the making of
         "Advances" under the Note Purchase Agreement and (3) to the issuance of
         Commercial Paper Notes as specified in the Liquidity Agreement shall
         have, in each case, been satisfied;

                  (v)      TFFC or the applicable Lessee, as the case may be,
         shall have good and marketable title to each Series 1997-2 Vehicle
         purchased thereby with the proceeds of Series 1997-2 Notes, free and
         clear of all Liens and encumbrances, other than any Permitted Liens.
         Each Repurchase Program shall be in full force and effect, and shall be
         enforceable against the related Manufacturer in accordance with its
         terms;

                  (vi)     Each Lessee shall have granted to TFFC, for the
         benefit of the Trustee and TFFC shall have granted to the Trustee, in
         each case on behalf of the Series 1997-2 Noteholders, a first priority
         security interest in all Series 1997-2 Vehicles now or hereafter
         purchased or financed by TFFC with the proceeds of Series 1997-2 Notes
         or with any contributions of capital made by Budget in favor of TFFC;

                  (vii)    TFFC shall have granted to the Trustee a first
         priority security interest in its right, title and interest in and to
         the Series 1997-2 Lease and the Series 1997-2 Collateral;

                  (viii)   If such Increase Date occurs on any date after
         May 29, 1997, the Trustee shall have received executed counterparts of
         the Assignment Agreements related to the assignment of rights under
         each Repurchase Program, dated as of the Series 1997-2 Issuance Date,
         duly executed by Budget Systems and/or TFFC, as assignor, and the
         Trustee, as assignee;

                  (ix)     If such Increase Date occurs on any date after
         May 29, 1997, the Trustee shall have received a copy of each Repurchase
         Program under which Series 1997-2 Vehicles will be or have been
         purchased and are proposed to be included in the Series 1997-2
         Aggregate Asset Amount and an Officer's Certificate, dated the Series
         1997-2 Issuance Date, and duly executed by an Authorized Officer of
         TFFC, certifying that each such copy is true, correct and complete as
         of the Series 1997-2 Issuance Date;

                  (x)      Notice of such Increase shall have been delivered to
         the Collateral Agent and the Liquidity Agent;

                  (xi)     All representations and warranties set forth in
         Article 7 of the Base Indenture and in Section 27 of the Series 1997-2
         Lease shall be true and correct; and

                  (xii)    With respect to the initial Increase only, the
         Servicer shall have calculated the Series 1997-2 Available Subordinated
         Amount and the Series 1997-2 Credit Support Amount and the Trustee
         shall have confirmed receipt of such written calculation.

                                       29
<PAGE>   33

         Section 4.3       Decreases.

                  (a)      Mandatory Decreases. Whenever the Series 1997-2
Credit Support Amount is less than the Series 1997-2 Minimum Credit Support
Amount, then, on the Distribution Date immediately following discovery of such
deficiency, TFFC shall decrease the Series 1997-2 Invested Amount of the Series
1997-2 Notes by the amount necessary, so that after giving effect to all
Decreases of the Series 1997-2 Invested Amount on such Distribution Date, no
such deficiency shall exist (each reduction of the Series 1997-2 Invested Amount
pursuant to this Section 4.3(a), a "Mandatory Decrease"). Upon such discovery,
TFFC shall deliver notice of any such Mandatory Decreases to the Trustee.

                  (b)      Voluntary Decreases. Upon at least three Business
Days' prior irrevocable notice to Budget Funding and the Trustee in writing,
TFFC may voluntarily prepay all or a portion of the Series 1997-2 Invested
Amount in accordance with the procedures set forth herein (each reduction of the
Series 1997-2 Invested Amount pursuant to this Section 4.3(b), a "Voluntary
Decrease"); provided, that all voluntary Decreases pursuant to this Section
4.3(b) shall be allocated such that (1) the Series 1997-2 Credit Support Amount
after giving effect to such Decrease is not less than the Series 1997-2 Minimum
Credit Support Amount. Each such Decrease shall be, in the aggregate for all
Series 1997-2 Notes, in a minimum principal amount of $100,000. Budget Funding
shall promptly advise the Liquidity Agent of any notice given pursuant to this
Section.

                  (c)      Upon receipt by a Responsible Officer of the Trustee
of written notice that a Decrease has been completed, the Trustee shall, or
shall cause the Note Registrar to, indicate in the Note Register such Decrease.
The amount of any Decrease shall not exceed the amount on deposit in the Series
1997-2 Collection Account and available for distribution to Series 1997-2
Noteholders in respect of principal on the Series 1997-2 Notes on the date
specified in the related notice of Decrease referred to in (a) above.

                                   ARTICLE V.

                            SERIES 1997-2 ALLOCATIONS

         With respect to the Series 1997-2 Notes only, the following shall
apply:

         Section 5.1       Establishment of Series 1997-2 Collection Account and
Series 1997-2 Accrued Interest Account.

         (a)       On each Business Day, all Series 1997-2 Collections shall
initially be deposited into the Collection Account.

         (b)       The Trustee will establish and maintain a segregated trust
account for the benefit of the Series 1997-2 Noteholders (the "Series 1997-2
Collection Account"). Amounts on deposit in the Series 1997-2 Collection Account
shall be invested in accordance with Sections 5.1(d) and (f) of the Base
Indenture.

         (c)       The Trustee will establish and maintain an administrative
sub-account within the Series 1997-2 Collection Account (such sub-account, the
"Series 1997-2 Accrued Interest Account").

                                       30
<PAGE>   34

         Section 5.2        Allocations with respect to the Series 1997-2 Notes.
The proceeds from the sale of the Series 1997-2 Notes will initially be
delivered by or on behalf of TFFC to the Trustee in the Series 1997-2 Collection
Account. On each Business Day on which Series 1997-2 Collections are deposited
into the Collection Account (each such date, a "Deposit Date"), the Servicer
will direct the Trustee in writing to allocate all such Series 1997-2
Collections for deposit into the Series 1997-2 Collection Account for further
allocation in accordance with the provisions of this Section 5.2.

         (a)       Allocations of Collections During the Revolving Period.
During the Series 1997-2 Revolving Period, the Servicer will direct the Trustee
in writing to allocate all Series 1997-2 Collections deposited into the Series
1997-2 Collection Account (including Recoveries) as set forth below:

                           (x)  On each Deposit Date, prior to 1:00 p.m.
         (New York City time):

                                    (i)      allocate to the Series 1997-2
                           Accrued Interest Account an amount, as stated in such
                           Servicer direction, up to the Series 1997-2 Rated
                           Note Interest accrued and unpaid as of such date;

                                    (ii)     to the extent a Mandatory Decrease
                           is required under Section 4.3(a), allocate to the
                           Series 1997-2 Distribution Account for the payment of
                           the Series 1997-2 Invested Amount, the amount, as
                           stated in such Servicer direction, necessary for such
                           Mandatory Decrease;

                                    (iii)    set aside for allocation to the
                           Series 1997-2 Distribution Account, the Controlled
                           Liquidity Distribution Amount for the current Related
                           Month, if such Related Month is during the Series
                           1997-2 Controlled Liquidity Amortization Period;

                                    (iv)     allocate to the Series 1997-2
                           Accrued Interest Account an amount, as stated in such
                           Servicer direction, up to the Series 1997-2 Note
                           Interest accrued and unpaid as of such date, after
                           taking into account the allocation in clause (i)
                           above;

                                    (v)      make available to TFFC an amount,
                           as stated in such Servicer direction, equal to any
                           Series 1997-2 Lease Advances that are in accordance
                           with the requirements of and conditions precedent
                           under the Series 1997-2 Lease;

                                    (vi)     allocate to the Series 1997-2
                           Distribution Account the amount, as stated in such
                           Servicer direction, of any Voluntary Decreases in the
                           Series 1997-2 Invested Amount to be made in
                           accordance with Section 4.3(b) hereof; and

                                    (vii)    the amounts remaining in the Series
                           1997-2 Collection Account on such Deposit Date after
                           application pursuant to clauses (x)(i) through (v)
                           above shall be retained on deposit and shall be
                           available on future Deposit Dates for application in
                           accordance with this Section 5.2.

                                       31
<PAGE>   35

                  (y)      Monthly on the Business Day preceding each
         Distribution Date during the Revolving Period and the first
         Distribution Date following the end of the Revolving Period, the
         Servicer will direct the Trustee in writing (prior to 10:00 a.m., New
         York City time) to allocate all Series 1997-2 Collections on deposit in
         the Series 1997-2 Collection Account and, if specified below, pay to
         the account specified below:

                                    (i)      allocate to the Series 1997-2
                           Accrued Interest Account an amount, as stated in such
                           Servicer direction, equal to the Series 1997-2 Rated
                           Note Interest due on such Distribution Date;

                                    (ii)     to the extent a Mandatory Decrease
                           is required under Section 4.3(a), allocate to the
                           Series 1997-2 Distribution Account for the payment of
                           the Series 1997-2 Invested Amount, the amount, as
                           stated in such Servicer direction, necessary for such
                           Mandatory Decrease;

                                    (iii)    allocate to the Series 1997-2
                           Distribution Account for the payment of the Series
                           1997-2 Invested Amount, the amount set aside and as
                           stated in such Servicer direction, necessary to pay
                           the Controlled Liquidity Distribution Amount payable
                           on such Distribution Date, if the Related Month for
                           such Distribution Date occurred during the Series
                           1997-2 Controlled Liquidity Amortization Period;

                                     (iv)    allocate to the Series 1997-2
                           Accrued Interest Account an amount, as stated in such
                           Servicer direction, equal to the Series 1997-2 Note
                           Interest due on such Distribution Date, after taking
                           into account the allocation in clause (i) above;

                                      (v)    make available to TFFC an amount,
                           as stated in such Servicer direction, equal to any
                           Series 1997-2 Lease Advances that are in accordance
                           with the requirements of and conditions precedent
                           under the Series 1997-2 Lease;

                                    (vi)     allocate to the Series 1997-2
                           Distribution Account the amount, as stated in such
                           Servicer direction, of any Voluntary Decreases in the
                           Series 1997-2 Invested Amount to be made in
                           accordance with Section 4.3(b) hereof; and

                                    (vii)    so long as no Series 1997-2 Asset
                           Amount Deficiency exists or would result and so long
                           as no Series 1997-2 Credit Support Deficiency exists
                           or would result, allocate to the Team Distribution
                           Account the remainder of such Series 1997-2
                           Collections in excess of amounts constituting Profits
                           for the

                                       32
<PAGE>   36

                           Related Month, which Profits will be available to be
                           lent under the Subordinated Note.

         (b)       Allocations During the Series 1997-2 Controlled Amortization
Period. During the Series 1997-2 Controlled Amortization Period, the Servicer
will direct the Trustee in writing to allocate, prior to 12:00 noon (New York
City time) on each Deposit Date and each Distribution Date, all Series 1997-2
Collections deposited in the Series 1997-2 Collection Account (including
Recoveries) as set forth below:

                           (x) On each Deposit Date, prior to 1:00 p.m.(New York
                  City time):

                                    (i)      allocate to the Series 1997-2
                           Accrued Interest Account an amount, as stated in such
                           Servicer direction, up to the Series 1997-2 Rated
                           Note Interest accrued and unpaid as of such date;

                                    (ii)     to the extent a Mandatory Decrease
                           is required under Section 4.3(a), allocate to the
                           Series 1997-2 Distribution Account for the payment of
                           the Series 1997-2 Invested Amount, the amount, as
                           stated in such Servicer direction, necessary for such
                           Mandatory Decrease;

                                    (iii)    set aside for allocation to the
                           Series 1997-2 Distribution Account, the Controlled
                           Distribution Amount for the current Related Month;

                                    (iv)     allocate to the Series 1997-2
                           Accrued Interest Account an amount, as stated in such
                           Servicer direction, up to the Series 1997-2 Note
                           Interest accrued and unpaid as of such date, after
                           taking into account the allocation in clause (i)
                           above;

                                    (v)      make available to TFFC an amount,
                           as stated in such Servicer direction, equal to any
                           Series 1997-2 Lease Advances that are in accordance
                           with the requirements of and conditions precedent
                           under the Series 1997-2 Lease;

                                    (vi)     allocate to the Series 1997-2
                           Distribution Account the amount, as stated in such
                           Servicer direction, of any Voluntary Decreases in the
                           Series 1997-2 Invested Amount to be made in
                           accordance with Section 4.3(b) hereof; and

                                    (vii)    the amounts remaining in the Series
                           1997-2 Collection Account on such Deposit Date after
                           application pursuant to clauses (x)(i) through (v)
                           above shall be retained on deposit and shall be
                           available on future Deposit Dates for application in
                           accordance with this Section 5.2.

                           (y) Monthly on the Business Day preceding each
                  Distribution Date during the Series 1997-2 Controlled
                  Amortization Period and the first Distribution Date following
                  the end of the Revolving Period, the Servicer will direct the
                  Trustee in writing (prior to 10:00 a.m., New York City time)
                  to allocate all Series 1997-2

                                       33
<PAGE>   37

                  Collections on deposit in the Series 1997-2 Collection Account
                  and, if specified below, pay to the account specified below:

                                    (i)      allocate to the Series 1997-2
                           Accrued Interest Account an amount, as stated in such
                           Servicer direction, equal to the Series 1997-2 Rated
                           Note Interest due on such Distribution Date;

                                    (ii)     during the Series 1997-2 Controlled
                           Amortization Period, allocate to the Series 1997-2
                           Distribution Account an amount, as stated in such
                           Servicer direction, equal to the Controlled
                           Distribution Amount for such Distribution Date, which
                           amount shall be used to make principal payments in
                           respect of the Series 1997-2 Invested Amount;

                                    (iii)    allocate to the Series 1997-2
                           Accrued Interest Account an amount, as stated in such
                           Servicer direction, equal to the Series 1997-2 Note
                           Interest due on such Distribution Date, after taking
                           into account the allocation in clause (i) above;

                                    (iv)      make available to TFFC an amount,
                           as stated in such Servicer direction, equal to any
                           Series 1997-2 Lease Advances that are in accordance
                           with the requirements of and conditions precedent
                           under the Series 1997-2 Lease;

                                    (v)       allocate to the Series 1997-2
                           Distribution Account the amount, as stated in such
                           Servicer direction, of any Voluntary Decreases in the
                           Series 1997-2 Invested Amount to be made in
                           accordance with Section 4.3(b) hereof; and

                                    (vi)      so long as no Series 1997-2 Asset
                           Amount Deficiency exists or would result and so long
                           as no Series 1997-2 Credit Support Deficiency exists
                           or would result, allocate to the Team Distribution
                           Account the remainder of such Series 1997-2
                           Collections in excess of amounts constituting Profits
                           for the Related Month, which Profits will be
                           available to be lent under the Subordinated Note.

         (c)       Allocations During the Series 1997-2 Rapid Amortization
Period. With respect to the Series 1997-2 Rapid Amortization Period, the
Servicer will direct the Trustee in writing to allocate all Series 1997-2
Collections (including Recoveries), prior to 1:00 p.m. (New York City time) on
any Deposit Date, as set forth below:

                           (x)  with respect to all Series 1997-2 Collections
                  (including Recoveries):

                                    (i)      allocate to the Series 1997-2
                           Accrued Interest Account an amount, as stated in such
                           Servicer direction, up to the Series 1997-2 Rated
                           Note Interest accrued and unpaid as of such day;

                                       34
<PAGE>   38

                                    (ii)     allocate to the Series 1997-2
                           Distribution Account all remaining Series 1997-2
                           Collections up to the then outstanding Series 1997-2
                           Invested Amount, as stated in such Servicer
                           direction; and

                                    (iii)    allocate to the Series 1997-2
                           Accrued Interest Account an amount, as stated in such
                           Servicer direction, up to the Series 1997-2 Note
                           Interest accrued and unpaid as of such date, after
                           taking into account the allocation in clause (i)
                           above.

                           (y)      with respect to all remaining Series 1997-2
                  Collections after allocations in subparagraph (c)(x) above and
                  the payment in full of all principal of and interest on the
                  Series 1997-2 Notes and all other amounts due under this
                  Series 1997-2 Supplement, allocate such remaining Series
                  1997-2 Collections to the Team Distribution Account.

         (d)      Additional Allocations for All Periods.  The Servicer will
direct the Trustee in writing to allocate the amounts set forth below as
follows:

                           (x)      Monthly, for each Distribution Date,
                  allocate to the Series 1997-2 Notes an amount, as stated in
                  such Servicer direction, equal to the Series 1997-2
                  Non-Repurchase Losses and Series 1997-2 Repurchase Losses for
                  the Related Month in the following manner:

                                       (i)   First, reduce the Series 1997-2
                           Available Subordinated Amount by the amount of such
                           Losses until the Series 1997-2 Available Subordinated
                           Amount has been reduced to zero; and

                                       (ii)  Second, to the extent any Series
                           1997-2 Non-Repurchase Losses of the type described in
                           part (a) of the definition thereof or Series 1997-2
                           Repurchase Losses of the type described in part (a)
                           of the definition thereof remain after the Series
                           1997-2 Available Subordinated Amount has been reduced
                           to zero, draw on the Letter of Credit or make a
                           withdrawal from the Cash Collateral Account in the
                           amount of such Losses in accordance with Section 5.9
                           hereof;

                                     (iii)   Third, to the extent any Series
                           1997-2 Non-Repurchase Losses of the type described in
                           part (b) of the definition thereof or Series 1997-2
                           Repurchase Losses of the type described in part (b)
                           of the definition thereof remain after the Series
                           1997-2 Available Subordinated Amount has been reduced
                           to zero, make a demand for payment under the
                           Subordinated Note in the amount stated in such
                           Servicer direction, up to its outstanding principal
                           amount, and then make a demand for payment of any
                           remainder under the capitalization Demand Note in the
                           amount of such Losses in accordance with Section 5.10
                           hereof (any failure of BRACC to pay under the Demand
                           Note shall give rise to a Letter of Credit draw as
                           specified in Section 5.10 hereof);

                                       35
<PAGE>   39

                                     (iv)    Fourth, any Losses remaining after
                           making the allocations, withdrawals and claims under
                           clauses (i), (ii) and (iii) above will be allocated,
                           as stated in such Servicer direction, to reduce the
                           Series 1997-2 Invested Amount.

                           (y)      Monthly, for each Distribution Date,
                  allocate to the Series 1997-2 Notes an amount, as stated in
                  such Servicer direction, equal to the Series 1997-2 Repurchase
                  Recoveries and Series 1997-2 Non-Repurchase Recoveries for the
                  Related Month in the following manner:

                                    (i)       First, allocate all such
                           Recoveries to reinstate the Series 1997-2 Invested
                           Amount, to the extent the Series 1997-2 Invested
                           Amount has been reduced pursuant to Section
                           5.2(d)(x)(iv) above;

                                    (ii)      Second, if the Cash Collateral
                           Account has been funded, deposit into such account
                           all remaining Recoveries after making the allocations
                           in clause (i) above until the amount on deposit in
                           the Cash Collateral Account equals the Required
                           Letter of Credit Amount as stated in such Servicer
                           direction;

                                    (iii)     Third, allocate all remaining
                           Recoveries after making the allocations in clauses
                           (i) and (ii) above up to the amount, as stated in
                           such Servicer direction, necessary to reinstate the
                           Series 1997-2 Available Subordinated Amount to the
                           Series 1997-2 Required Subordinated Amount; and

                                    (iv)      Fourth, the remainder of such
                           Recoveries after making the allocations in (i), (ii)
                           and (iii) above shall constitute Profits that may be
                           lent under the Subordinated Note.

                  (e)      Allocation Adjustments. Notwithstanding the foregoing
provisions of this Section 5.2:

                           (i)      in the event that the Servicer is not Budget
                  or an Affiliate of Budget or if a Servicer Default has
                  occurred and is continuing, the Servicer shall not be entitled
                  to withhold any amounts pursuant to Section 5.2(c) of the Base
                  Indenture and the Trustee shall deposit amounts payable to
                  Budget in the Collection Account pursuant to the provisions of
                  Section 5.2 of the Base Indenture on each Deposit Date;

                           (ii)     any amounts withheld by the Servicer and not
                  deposited in the Series 1997-2 Collection Account pursuant to
                  Section 5.2(c) of the Base Indenture shall be deemed to be
                  deposited in the Series 1997-2 Collection Account on the date
                  such amounts are withheld for purposes of determining the
                  amounts to be allocated pursuant to this Section 5.2;

                           (iii)    TFFC may, from time to time in its sole
                  discretion, increase the Series 1997-2 Available Subordinated
                  Amount by (i) transferring funds to the Series 1997-2
                  Collection Account and (ii) delivering to the Servicer and the
                  Trustee an Officers'

                                       36
<PAGE>   40

                  Certificate setting forth the amount of such transferred funds
                  and stating that such transferred funds shall be allocated to
                  the Series 1997-2 Available Subordinated Amount; provided,
                  however, (a) TFFC shall have no obligation to so increase the
                  Series 1997-2 Available Subordinated Amount and (b) TFFC may
                  not increase the Series 1997-2 Available Subordinated Amount
                  at any time if the amount of such increase, together with the
                  sum of the amounts of all prior increases, if any, of the
                  Series 1997-2 Available Subordinated Amount, would exceed the
                  Series 1997-2 Available Subordinated Amount Maximum Increase;
                  and

                           (iv)      in the event that the Series 1997-2 Credit
                  Support Amount is reduced to less than the Series 1997-2
                  Minimum Credit Support Amount, an Amortization Event and a
                  Series 1997-2 Limited Liquidation Event of Default shall be
                  deemed to have occurred with respect to the Series 1997-2
                  Notes only if, after any applicable grace period, either the
                  Trustee, by written notice to the Issuer, or the Required
                  Noteholders, by written notice to the Issuer and the Trustee,
                  declare that an Amortization Event has occurred; provided,
                  however, (i) the Issuer may prevent an Amortization Event from
                  occurring if, within one (1) Business Day after the occurrence
                  of such Series 1997-2 Credit Support Deficiency, the Issuer
                  contributes a portion of the Team Interest in an amount
                  sufficient, in the aggregate, to eliminate such Series 1997-2
                  Credit Support Deficiency; provided, however, the amount of
                  such contribution (together with the sum of the amounts of all
                  prior contributions) shall not exceed the Series 1997-2
                  Available Subordinated Amount Maximum Increase, excluding from
                  such calculation any increase in the Series 1997-2 Available
                  Subordinated Amount (1) through Recoveries or from funds
                  constituting repayments of principal under the Demand Note or
                  any intercompany demand note made by BRACC or Budget in favor
                  of Budget Funding, or (2) relating to an increase in the
                  Series 1997-2 Minimum Credit Support Amount that results from
                  (a) an increase in the ratio of Series 1997-2 Non-Repurchase
                  Vehicles or Series 1997-2 Trucks to all Vehicles, (b) a
                  reduction in the aggregate amount of cash and Permitted
                  Investments allocable to Series 1997-2 Vehicles in the
                  Collection Account, or (c) a decline in the resale performance
                  of Non-Repurchase Vehicles within the twelve calendar months
                  preceding the applicable determination date, and (ii) the
                  Issuer may prevent a Series 1997-2 Limited Liquidation Event
                  of Default from occurring if within the thirty (30) day period
                  after the occurrence of such Series 1997-2 Credit Support
                  Deficiency (x) the Issuer contributes a portion of the Team
                  Interest sufficient to eliminate such Series 1997-2 Credit
                  Support Deficiency and (y) obtains written notice from the
                  Rating Agencies to the Issuer, Budget and the Trustee that
                  after such cure of such Series 1997-2 Credit Support
                  Deficiency is provided for, the Series 1997-2 Notes or the
                  Commercial Paper Notes will receive the same rating from the
                  Rating Agencies as they received prior to the occurrence of
                  such Series 1997-2 Credit Support Deficiency.

                  Section 5.3       Monthly Payments from the Series 1997-2
Accrued Interest Account.

                  On each Determination Date, as provided below, the Servicer
shall instruct the Trustee or the Paying Agent to withdraw, and on the following
Distribution Date the Trustee or the Paying Agent, acting in accordance with
such instructions, shall withdraw the amounts required to be withdrawn from the
Series 1997-2 Collection Account pursuant to Sections 5.3(a), (b) and (c)

                                       37
<PAGE>   41

below in respect of all funds available from Series 1997-2 Collections processed
since the preceding Distribution Date and allocated to the holders of the Series
1997-2 Notes.

         (a)      Successor Servicer Fees. On each Distribution Date on which
Budget is not the Servicer, and before any deposits required to be made on such
date to the Series 1997-2 Distribution Account have been made, the Servicer
shall instruct the Trustee and the Paying Agent in writing as to the amount to
be withdrawn from the Series 1997-2 Collection Account to the extent funds are
available and processed since the preceding Distribution Date in respect of an
amount equal to (i) the Series 1997-2 Investor Monthly Servicing Fee (and any
Series 1997-2 Monthly Supplemental Servicing Fee) accrued since the preceding
Distribution Date, plus (ii) all accrued and unpaid Series 1997-2 Investor
Monthly Servicing Fees (and any Series 1997-2 Monthly Supplemental Servicing
Fees) in respect of previous periods, minus (iii) the amount of any Series
1997-2 Investor Monthly Servicing Fees (and Series 1997-2 Monthly Supplemental
Servicing Fees) withheld by the Servicer since the preceding Distribution Date
pursuant to Section 5.2(c) of the Base Indenture.

         (b)      Note Interest with respect to the Series 1997-2 Notes. On each
Determination Date, the Servicer shall, after making all distributions required
to be made pursuant to Section 5.3(a), instruct the Trustee and the Paying Agent
in writing as to the amount to be withdrawn from the Series 1997-2 Accrued
Interest Account to the extent funds will be available and processed from but
not including the preceding Distribution Date through the succeeding
Distribution Date in respect of Series 1997-2 Note Interest. On the Distribution
Date related to such Determination Date, the Trustee shall withdraw from the
Series 1997-2 Accrued Interest Account the amount on deposit therein available
for the payment of Series 1997-2 Note Interest and deposit such amount in the
Series 1997-2 Distribution Account.

         (c)      Servicing Fee. On each Distribution Date on which Budget is
the Servicer, the Servicer shall, after making all distributions required to be
made pursuant to Sections 5.3(a) and (b) of this Supplement, instruct the
Trustee and the Paying Agent in writing as to the amount to be withdrawn from
the Series 1997-2 Collection Account to the extent funds are available and
processed since the preceding Distribution Date in respect of an amount equal to
(i) the Series 1997-2 Investor Monthly Servicing Fee (and any Series 1997-2
Monthly Supplemental Servicing Fee) accrued since the preceding Distribution
Date, plus (ii) all accrued and unpaid Series 1997-2 Investor Monthly Servicing
Fees (and any Series 1997-2 Monthly Supplemental Servicing Fees)in respect of
previous periods, minus (iii) the amount of any Series 1997-2 Investor Monthly
Servicing Fees (and Series 1997-2 Monthly Supplemental Servicing Fees) withheld
by the Servicer since the preceding Distribution Date pursuant to Section 5.2(c)
of the Base Indenture. On the following Distribution Date, the Trustee shall
withdraw such amount from the Series 1997-2 Collection Account and remit such
amount to the Servicer.

         Section  5.4 Payment of Note Interest.

         On each Distribution Date, the Paying Agent shall, in accordance with
Section 6.1 of the Base Indenture, pay to the Series 1997-2 Noteholders from the
Series 1997-2 Distribution Account the amount deposited in the Series 1997-2
Distribution Account for the payment of interest pursuant to Section 5.3(b) of
this Supplement and, to the extent that such amount is insufficient to pay all
Series 1997-2 Rated Note Interest payable on such Distribution Date and

                                       38
<PAGE>   42

the Series 1997-2 Note Interest payable on the final Distribution Date (the
amount of such insufficiency, a "Note Interest Shortfall"), the Servicer shall
instruct the Trustee in writing (a) to withdraw from the Series 1997-2
Collection Account the lesser of (i) the amount on deposit in the Series 1997-2
Collection Account (up to the Series 1997-2 Available Subordinated Amount on
such date) and (ii) the amount of such Note Interest Shortfall and (b) to the
extent of any remaining Note Interest Shortfall, to apply to pay such Note
Interest Shortfall amounts on deposit in the Series 1997-2 Distribution Account
representing the proceeds of an LOC Credit Disbursement up to the lesser of (i)
the remaining Note Interest Shortfall and (ii) the proceeds of such LOC Credit
Disbursement.

         Section 5.5       Payment of Note Principal.

         (a)      Commencing on the second Determination Date after the
commencement of a Series 1997-2 Controlled Liquidity Amortization Period, or the
second Determination Date after the commencement of the Series 1997-2 Controlled
Amortization Period, or the first Determination Date after the commencement of
the Series 1997-2 Rapid Amortization Period, the Servicer shall, in each case,
instruct the Trustee and the Paying Agent in writing as to the amount of Series
1997-2 Collections to be allocated to the payment of the Series 1997-2 Invested
Amount of the Series 1997-2 Notes during the Related Month pursuant to Section
5.2(a)(x)(iii), Section 5.2(a)(y)(iii), 5.2(b)(x)(ii), 5.2(b)(x)(iii),
5.2(b)(y)(iii) or 5.2(c)(x)(ii) of this Supplement, as applicable (such amount,
the "Monthly Principal Allocation"). Commencing on the second Distribution Date
after the commencement of the Series 1997-2 Controlled Amortization Period or
the first Distribution Date after the commencement of the Series 1997-2 Rapid
Amortization Period, to the extent that the Monthly Principal Allocation for the
related Month is insufficient to pay all principal due in respect of the Series
1997-2 Notes on such Distribution Date (the amount of such insufficiency, a
"Principal Shortfall"), the Servicer shall instruct the Trustee in writing (a)
to withdraw from the Series 1997-2 Collection Account the lesser of (i) the
amount on deposit in the Series 1997-2 Collection Account (up to the Series
1997-2 Available Subordinated Amount on such date after giving effect to any
reduction thereof pursuant to Section 5.4) and (ii) the amount of such Principal
Shortfall, (b) to the extent of any remaining Principal Shortfall, to apply to
the payment thereof Principal Collections with respect to any other Series of
Notes which pursuant to Section 5.2(d) of the Base Indenture are available on
such Distribution Date to pay principal of the Series 1997-2 Notes (up to the
amount of such Principal Shortfall remaining) and (c) to the extent of any
remaining Principal Shortfall, to apply amounts on deposit in the Series 1997-2
Distribution Account representing the proceeds of a Credit Draw up to the lesser
of (i) the remaining Principal Shortfall and (ii) the proceeds of such Credit
Draw remaining after any application thereof pursuant to Section 5.4; provided,
however, that with respect to the final Distribution Date, the Trustee shall, in
accordance with the written instructions of the Servicer, withdraw from the
Series 1997-2 Collection Account an amount which (in the aggregate) is no
greater than the Series 1997-2 Invested Amount as of the end of the day on the
preceding Record Date. The entire principal amount of all Outstanding Series
1997-2 Notes shall be due and payable on the Series 1997-2 Termination Date.

         (b)      On each Distribution Date occurring on or after the date a
withdrawal is made pursuant to Section 5.5(a) of this Supplement, the Paying
Agent shall, in accordance with Section 6.1 of the Base Indenture, pay to the
Series 1997-2 Noteholders the amount deposited in

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<PAGE>   43

the Series 1997-2 Distribution Account for the payment of principal pursuant to
Section 5.5(a) of this Supplement.

         Section 5.6       Servicer's or Budget's Failure to Make a Deposit or
Payment.

         If the Servicer or Budget fails to make, or give notice or instructions
to make, any payment from or deposit to the Collection Account, the Series
1997-2 Collection Account or the Series 1997-2 Accrued Interest Account required
to be made or given by the Servicer or Budget, respectively, at the time
specified in the Indenture (including applicable grace periods), the Servicer
shall, upon request of the Trustee, promptly provide the Trustee with all
information necessary to allow the Trustee, in the event it elects to do so, to
make such a payment. Such funds shall be applied by the Trustee in the manner in
which such payment or deposit should have been made by the Servicer.

         Section 5.7       Series 1997-2 Distribution Account.

         (a)      Establishment of the Series 1997-2 Distribution Account. The
Trustee shall establish and maintain in the name of the Trustee for the benefit
of the Series 1997-2 Noteholders, or cause to be established and maintained, an
account (the "Series 1997-2 Distribution Account"), bearing a designation
clearly indicating that the funds deposited therein are held for the benefit of
the Series 1997-2 Noteholders. The Series 1997-2 Distribution Account shall be
maintained (i) with a Qualified Institution, or (ii) as a segregated trust
account with the corporate trust department of a depository institution or trust
company having corporate trust powers and acting as trustee for funds deposited
in the Series 1997-2 Distribution Account. If the Series 1997-2 Distribution
Account is not maintained in accordance with the previous sentence, the Servicer
shall establish a new Series 1997-2 Distribution Account, within ten (10)
Business Days after obtaining knowledge of such fact, which complies with such
sentence, and transfer all cash and investments from the non-qualifying Series
1997-2 Distribution Account into the new Series 1997-2 Distribution Account.
Initially, the Series 1997-2 Distribution Account will be established with the
Trustee.

         (b)      Administration of the Series 1997-2 Distribution Account. The
Servicer shall instruct the institution maintaining the Series 1997-2
Distribution Account in writing to invest funds on deposit in the Series 1997-2
Distribution Account at all times in Permitted Investments; provided, however,
that any such investment shall mature not later than the Business Day prior to
the Distribution Date following the date on which such funds were received,
unless any Permitted Investment held in the Series 1997-2 Distribution Account
is held with the Paying Agent, then such investment may mature on such
Distribution Date and such funds shall be available for withdrawal on or prior
to such Distribution Date. The Trustee shall hold, for the benefit of the Series
1997-2 Noteholders and the Servicer, possession of the negotiable instruments or
securities evidencing the Permitted Investments described in clause (i) of the
definition thereof from the time of purchase thereof until the time of maturity.

         (c)      Earnings from Series 1997-2 Distribution Account. Subject to
the restrictions set forth above, the Servicer shall have the authority to
instruct the Trustee in writing with respect to the investment of funds on
deposit in the Series 1997-2 Distribution Account. All interest and

                                       40
<PAGE>   44

earnings (net of losses and investment expenses) on funds on deposit in the
Series 1997-2 Distribution Account shall be deemed to be on deposit and
available for distribution.

         (d)      Series 1997-2 Distribution Account Constitutes Additional
Collateral for Series 1997-2 Notes. In order to secure and provide for the
repayment and payment of the TFFC Obligations with respect to the Series 1997-2
Notes (but not the Notes of any other Series), TFFC hereby assigns, pledges,
grants, transfers and sets over to the Trustee, for the benefit of the Series
1997-2 Noteholders, all of TFFC's right, title and interest in and to the
following (whether now or hereafter existing and whether now owned or hereafter
acquired): (i) the Series 1997-2 Distribution Account; (ii) all funds on deposit
therein from time to time; (iii) all certificates and instruments, if any,
representing or evidencing any or all of the Series 1997-2 Distribution Account
or the funds on deposit therein from time to time; (iv) all Permitted
Investments made at any time and from time to time with moneys in the Series
1997-2 Distribution Account; and (v) all proceeds of any and all of the
foregoing, including, without limitation, cash (the items in the foregoing
clauses (i) through (v) are referred to, collectively, as the "Series 1997-2
Distribution Account Collateral"). The Trustee shall possess all right, title
and interest in all funds on deposit from time to time in the Series 1997-2
Distribution Account and in all proceeds thereof. The Series 1997-2 Distribution
Account Collateral shall be under the sole dominion and control of the Trustee
for the benefit of the Series 1997-2 Noteholders.

         Section 5.8       Allocation of Certain Amounts to Interest.
Notwithstanding anything to the contrary set forth in the Indenture, for the
period ending on the earlier of (x) the date that is five months after the
occurrence of an Event of Bankruptcy with respect to Budget and (y) the date on
which the underlying case, application or petition with respect to such Event of
Bankruptcy is withdrawn or dismissed or any stay thereunder in respect of the
Trustee is lifted, the Liquidity Amount shall be allocated and distributed
solely in respect of interest on the Series 1997-2 Notes as the same shall
become due and payable pursuant hereto to the extent Series 1997-2 Collections
allocated and distributed pursuant to this Article 5 are otherwise insufficient
to pay such amounts. Upon the expiration of the period described in clauses (x)
and (y) of this Section 5.8(b), Disposition Proceeds, Guaranteed Payments and
Repurchase Prices shall be allocated and distributed in accordance with this
Article 5 (exclusive of this Section 5(b)).

         Section 5.9       Draw on Letter of Credit.

         (a)      On or before the second Business Day prior to each
Distribution Date, the Servicer shall notify the Trustee of the amount of the
Series 1997-2 Lease Payment Deficit, such notification to be in the form of
Exhibit C to this Series 1997-2 Supplement. The Servicer shall also notify BRACC
in writing of any Series 1997-2 Lease Payment Deficit and any Credit Draw on the
Letter of Credit in respect thereof at the following address: Budget Rent a Car
Corporation, 4225 Naperville Road, Lisle, Illinois 60532; Attention: General
Counsel; telephone (630) 955-1900; telecopier: (630) 955-7799; provided, that
the Servicer's failure to deliver such notice to BRACC shall not be deemed to
affect the rights or obligations of any party, including without limitation the
Letter of Credit Provider, the Trustee, and the Guarantor, in respect of such
Lease Payment Deficiency or the Letter of Credit.

         (b)      So long as the Letter of Credit shall not have been
terminated, on any Business Day that a Series 1997-2 Lease Payment Deficit
exists, the Trustee shall, by 12:00 noon (New

                                       41
<PAGE>   45

York City time) on the relevant Distribution Date, draw on the Letter of Credit
by presenting a draft in the amount equal to the lesser of the Series 1997-2
Lease Payment Deficit and the Letter of Credit Amount on such Business Day
accompanied by a Certificate of Credit Demand in the form of Annex A to the
Letter of Credit. The Trustee shall deliver the proceeds of such draw no later
than 4:00 p.m. (New York City time) for deposit in the Series 1997-2
Distribution Account.

         (c)      So long as the Letter of Credit shall not have been
terminated, on any Business Day that the Trustee has received written notice
from the Collateral Agent pursuant to Section 5.05(b) of the Collateral
Agreement notifying the Trustee of the existence and amount of a Liquidity
Deficiency and directing the Trustee to make a draw under the Letter of Credit,
the Trustee shall, by 12:00 noon (New York City time) on the date of such notice
(or, in the case of any notice given to the Trustee after 11:30 a.m. (New York
City time), by 12:00 noon (New York City time) on the next following Business
Day), draw on the Letter of Credit by presenting a draft in an amount equal to
the lesser of (i) such Liquidity Deficiency and (ii) the full amount available
to be drawn under the Letter of Credit on such date accompanied by a Certificate
of Liquidity Demand in the form of Annex B to the Letter of Credit. The Trustee
shall deliver the proceeds of such draw for deposit in the Series 1997-2
Distribution Account.

         Section 5.10       Draw on the Subordinated Note and the Demand Note.

         (a)      On each Determination Date, the Servicer shall determine the
aggregate amount, if any, of Series 1997-2 Disposition Losses that have occurred
during the Related Month. In the event that all Losses occurring during such
Related Month exceed the amount of all Recoveries received during such Related
Month, the Servicer shall, at or before 12:30 p.m. (New York City time) on such
Determination Date, notify the Collateral Agent, and the Trustee of the
aggregate amount of such net Losses and the amount attributable to Series 1997-2
Disposition Losses (the "Net Disposition Losses"), and the Trustee shall, prior
to 5:00 p.m. (New York City time) on such date, as specified in such notice from
the Servicer, (i) first, to the extent of the outstanding balance under the
Subordinated Note, transmit to BRACC a demand for repayment of such Subordinated
Note in the amount of the lesser of such outstanding balance and such Net
Deposition Losses for the Related Month and (ii) second, transmit to BRACC a
demand for payment (each, a "Demand Notice") under the Demand Note in the amount
of the lesser of (x) the outstanding amount of such Demand Note and (y) the Net
Disposition Losses for the Related Month less the amount demanded under the
Subordinated Note, in each case such payment to be made on or prior to the next
succeeding Distribution Date by deposit of funds into the Series 1997-2
Collection Account in the specified amount.

         (b)      In the event that on or prior to 10:00 a.m. (New York City
time) on the Distribution Date next succeeding any Determination Date on which a
Demand Notice has been transmitted to BRACC pursuant to Section 5.10(a) above,
BRACC shall have failed to deposit into the Series 1997-2 Collection Account the
amount specified in such Demand Notice, so long as the Letter of Credit shall
not have been terminated, the Trustee shall, by 2:00 p.m. (New York City time)
on the same Business Day, draw on the Letter of Credit by presenting a draft in
an amount equal to that portion of the amount demanded under the Demand Note as
specified in (a) above that has not been deposited into the Series 1997-2
Collection Account as of 10:00 a.m. (New York City time), accompanied by a
Certificate of Credit Demand in the form of Annex A to the Letter of Credit. The
proceeds of such draw shall be delivered to the Trustee by 4:00 p.m.

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<PAGE>   46

(New York City time) and be deposited by the Trustee in the Series 1997-2
Distribution Account for application pursuant to Section 5.2.

         Section 5.11       Letter of Credit Termination Demand.

         (a)      If prior to the date which is 30 days prior to the then
scheduled Letter of Credit Expiration Date,

                  (i)      there shall not have been appointed a successor
         institution to act as Letter of Credit Provider, or

                  (ii)     the payments to be made by the Lessee under the
         Series 1997-2 Lease shall not have otherwise been credit enhanced with
         (A) the funding of the Cash Collateral Account with cash in the amount
         of the Required Letter of Credit Amount, (B) other cash collateral
         accounts, overcollateralization or subordinated securities or (C) with
         the consent of the Requisite Noteholders and the Required Liquidity
         Providers, a surety bond or other similar arrangements; provided,
         however, that

                           (1) Rating Agency Confirmation shall have been
                  obtained with respect to any such successor institution or
                  other form of substitute credit enhancement referred to in the
                  foregoing clauses (ii)(B) and (C); and

                           (2) any such successor institution or other form of
                  substitute credit enhancement referred to in the foregoing
                  clauses (ii)(B) or (C) shall, if the ratings with respect to
                  such substitute credit enhancement, if applicable, are less
                  than A-1 or the equivalent from Standard & Poor's and P-1 or
                  the equivalent from Moody's, be approved by the Requisite
                  Noteholders and the Required Liquidity Providers;

then, no later than 10:00 a.m. on the Business Day prior to the Letter of Credit
Expiration Date, the Trustee shall draw on the Letter of Credit in an amount
equal to the lesser of (x) the principal balance of all Outstanding Series
1997-2 Notes on such date, and (y) the amount available to be drawn on the
Letter of Credit on such date by presenting a draft accompanied by a Certificate
of Termination Demand in the Form of Annex C to the Letter of Credit and shall
deposit the proceeds of the disbursement resulting therefrom in a special
deposit account ("the Cash Collateral Account.").

         (b)      The Servicer shall notify the Trustee pursuant to the Series
1997-2 Lease within one Business Day of becoming aware that the short-term debt
credit rating of the Letter of Credit Provider has fallen below "A-1" as
determined by Standard & Poor's. At such time the Servicer shall also notify the
Trustee of (i) the principal balance of all Outstanding Series 1997-2 Notes on
such date, and (ii) the Letter of Credit Amount on such date. Upon receipt of
such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any
Business Day, the Trustee shall, by 2:00 p.m. (New York City time) on such
Business Day (or, in the case of any notice given to the Trustee after 10:00
a.m. (New York City time), by 2:00 p.m. (New York City time) on the next
following Business Day), draw on the Letter of Credit in an amount equal to the
lesser of the principal balance of all Outstanding Series 1997-2 Notes on such
Business Day and the amount available to be drawn on the Letter of Credit on
such Business Day by presenting a

                                       43
<PAGE>   47

draft accompanied by a Certificate of Termination Demand in the form of Annex C
to the Letter of Credit and shall deliver the proceeds of the disbursement
resulting therefrom to the Trustee for deposit in the Cash Collateral Account.

         Section 5.12     Conversion.  If on any Business Day there exists a
Series 1997-2 Lease Payment Deficit, including after an LOC Termination
Disbursement has been made as provided in Section 5.11 above, and if on such day
(i) the amount of such Series 1997-2 Lease Payment Deficit exceeds the Letter of
Credit Amount on such day, and (ii) LOC Liquidity Disbursements are Outstanding,
then (A) such amount of LOC Liquidity Disbursements shall be reduced, and (B)
the amount of LOC Credit Disbursements Outstanding shall be increased, in each
case, by an amount equal to the lesser of (a) the amount by which the Series
1997-2 Lease Payment Deficit exceeds the Letter of Credit Amount (which Letter
of Credit Amount shall, in any event, be drawn, in accordance with the second
paragraph of Section 5.9 as a Credit Draw) and (b) the aggregate amount of LOC
Liquidity Disbursements (such reduction and increase shall be referred to as a
"Conversion"). On the Business Day any such Conversion is required, the Trustee
(upon receiving written notice of such Series 1997-2 Lease Payment Deficit)
shall direct the Trustee to deliver to the Letter of Credit Provider a Notice of
Conversion in the form of Exhibit C to the Letter of Credit Reimbursement
Agreement by 1:00 p.m. (New York City time) on such Business Day.

         Section 5.13      The Cash Collateral Account.

                  (a)      Upon receipt of notice of a draw on the Letter of
Credit pursuant to Section 5.11, the Trustee shall establish and maintain in the
name of the Trustee for the benefit of the Series 1997-2 Noteholders, or cause
to be established and maintained, the Cash Collateral Account bearing a
designation clearly indicating that the funds deposited therein are held for the
Series 1997-2 Noteholders. The Cash Collateral Account shall be maintained (i)
with a Qualified Institution, or (ii) as a segregated trust account with the
corporate trust department of a depository institution or trust company having
corporate trust powers and acting as trustee for funds deposited in the Cash
Collateral Account. If the Cash Collateral Account is not maintained in
accordance with the prior sentence, then within 10 Business Days after obtaining
knowledge of such fact, Budget has agreed pursuant to the Series 1997-2 Lease
that it shall establish a new Cash Collateral Account which complies with such
sentence and shall instruct the Trustee to transfer into the new Cash Collateral
Account all cash and investments from the non-qualifying Cash Collateral
Account. When established, the Cash Collateral Account is intended to function
in all respects as the replacement for, and the equivalent of, the Letter of
Credit. Accordingly, following its creation, each reference to a draw on the
Letter of Credit shall refer to withdrawals from the Cash Collateral Account and
references to similar terms shall mean and be a reference to actions taken with
respect to the Cash Collateral Account that correspond to actions that otherwise
would have been taken with respect to the Letter of Credit. Without limiting the
generality of the foregoing, upon funding of the Cash Collateral Account, the
Trustee shall, at all times when the Co-Trustee is otherwise required to make a
draw under the Letter of Credit pursuant to Section 5.9 of this Supplement, make
a draw from the Cash Collateral Account in the amount and at such time as a draw
would be made under the Letter of Credit pursuant to Section 5.9 of this
Supplement. The Trustee shall provide written notice to Budget of any draw from
the Cash Collateral Account pursuant to Section 5.9 of this Supplement.

                                       44
<PAGE>   48

         (b)      In order to secure and provide for the repayment and payment
of the TFFC Obligations with respect to the Series 1997-2 Notes (but not the
other Notes), TFFC hereby assigns, pledges, grants, transfers and sets over to
the Trustee, for the benefit of the Series 1997-2 Noteholders, all of TFFC's
right, title and interest in and to the following (whether now or hereafter
existing and whether now owned or hereafter acquired): (i) the Cash Collateral
Account; (ii) all funds on deposit therein from time to time; (iii) all
certificates and instruments, if any, representing or evidencing any or all of
the Cash Collateral Account or the funds on deposit therein from time to time;
(iv) all Permitted Investments made at any time and from time to time with the
monies in the Cash Collateral Account; and (v) all proceeds of any and all of
the foregoing, including, without limitation, cash. The Trustee shall possess
all right, title and interest in all funds on deposit from time to time in the
Cash Collateral Account and in all proceeds thereof. The Cash Collateral Account
shall be under the sole dominion and control of the Trustee for the benefit of
the Series 1997-2 Noteholders, and the Letter of Credit Provider, as their
interests appear herein, which interest in the case of the Letter of Credit
Provider shall be subject to the interests of the holders of Series 1997-2 Notes
as provided herein.

         (c)      Funds on deposit in the Cash Collateral Account shall at the
written direction of the Servicer be invested by the Trustee in Permitted
Investments. Funds on deposit in the Cash Collateral Account on any Distribution
Date, after giving effect to any deposits to or withdrawals from the Cash
Collateral Account on such Distribution Date, shall be invested in Permitted
Investments that will mature at such time that such funds will be available for
withdrawal on or prior to the following Distribution Date. The proceeds of any
such investment, to the extent not distributed on such Distribution Date, shall
be invested in Permitted Investments that will mature at such time that such
funds will be available for withdrawal on or prior to the Distribution Date
immediately following the date of such investment. The Trustee shall maintain
for the benefit of the Series 1997-2 Noteholders, and the Letter of Credit
Provider, as their interests appear herein, which interest in the case of the
Letter of Credit Provider shall be subject to the interests of the holders of
the Series 1997-2 Notes as provided herein, possession of the negotiable
instruments or securities evidencing the Permitted Investments from the time of
purchase thereof until the time of sale or maturity. On each Distribution Date,
all interest and earnings (net of losses and investment expenses) accrued since
the preceding Distribution Date on funds on deposit in the Cash Collateral
Account shall be paid to the Letter of Credit Provider to the extent of any
unreimbursed draws on the Letter of Credit. Subject to the restrictions set
forth above, Budget, or a Person designated in writing by Budget with written
notification thereof to the Trustee, shall have the authority to instruct the
Trustee in writing with respect to the investment of funds on deposit in the
Cash Collateral Account. For purposes of determining the availability of funds
or the balances in the Cash Collateral Account for any reason under the
Indenture, all investment earnings on such funds shall be deemed not to be
available or on deposit.

         (d)      Cash Collateral Account Surplus. In the event that there is a
Cash Collateral Account Surplus on any Distribution Date, after giving effect to
all withdrawals from the Cash Collateral Account, the Trustee, acting in
accordance with the instructions of the Servicer, shall withdraw from the Cash
Collateral Account an amount equal to the Cash Collateral Amount Surplus and
shall pay such amount to the Letter of Credit Provider to the extent of
unreimbursed draws under the Letter of Credit or otherwise pay such amount to
TFFC.

                                       45
<PAGE>   49

         (e)      Disposition of Funds on Termination. Upon the payment in full
of all obligations under or in respect of the Commercial Paper Notes and the
Liquidity Agreement (in respect of interest, principal and commitment fees), all
Deposited Funds on deposit in the Cash Collateral Account shall be paid to TFFC.

         Section 5.14       Notices of Increase or Decrease of Amount of Letter
of Credit. Within one Business Day after any increase or decrease in the face
amount of the Letter of Credit, the Trustee shall notify each of the Rating
Agencies in writing of (a) the amount and effective date of such increase or
decrease and (b) the face amount of the Letter of Credit after giving effect to
such increase or decrease.

                                  ARTICLE VI.

                      RIGHT TO WAIVE PURCHASE RESTRICTIONS

         Section 6.1       Request for Waiver.

         (a)      Notwithstanding any provision to the contrary in the Indenture
or the Related Documents, upon the Trustee's receipt of written notice from the
Issuer requesting an adjustment of the Maximum Manufacturer Percentage with
respect to any Eligible Manufacturer, the Maximum Non-Repurchase Percentage with
respect to Non-Repurchase Vehicles (such notice, a "Change of Percentage
Notice"), each Series 1997-2 Noteholder may, at its option upon any failure to
obtain Rating Agency confirmation in connection with such adjustment, waive the
Maximum Manufacturer Percentage or the Maximum Non-Repurchase Percentage, as the
case may be, if (i) no Amortization Event exists and (ii) the Requisite Series
1997-2 Noteholders consent to the waiver of such Vehicle purchase restrictions.

         (b)      Upon (x) receipt by the Trustee of a Change of Percentage
Notice and (y) any failure, after giving effect to the leasing of any Vehicle
under the Series 1997-2 Lease, of the Lessees to satisfy the conditions in
Section 2.5 of the Series 1997-2 Lease, all Series 1997-2 Collections which are
not allocable on any day to pay accrued interest on the Series 1997-2 Notes or
to pay any Mandatory Decrease (the "Designated Amounts") from the date the
Trustee receives a Change of Percentage Notice through the Consent Period
Expiration Date or, if the Trustee receives Consent from the Requisite Series
1997-2 Noteholders in accordance with the next following paragraph, through the
date on which the payments described in clauses (i) through (iii) of Section
6.2(b) below shall have been paid in full, shall be held by the Trustee in the
Series 1997-2 Collection Account for ratable distribution as described below.

         (c)      Within ten (10) Business Days after the Trustee receives a
Change of Percentage Notice, the Trustee shall furnish notice thereof to the
Series 1997-2 Noteholders, which notice shall be accompanied by a form of
consent (each a "Consent") in the form of Exhibit B hereto by which the Series
1997-2 Noteholders may, on or before the Consent Period Expiration Date, consent
to the waiver of the Vehicle purchase restrictions. If the Trustee receives
Consents from the Requisite Series 1997-2 Noteholders agreeing to waiver of such
percentages within forty-five (45) days after the Trustee notifies the Series
1997-2 Noteholders of a Change of Percentage Notice (the day on which such
forty-five (45) day period expires the "Consent Period Expiration Date"), (i)
the conditions in Section 2.5 of the Series 1997-2 Lease relating to the Maximum

                                       46
<PAGE>   50

Non-Repurchase Percentage or the Maximum Manufacturer Percentage will be deemed
not to include the definition of such term set forth in Article 2 of this Series
Supplement, (ii) the Trustee will distribute the Designated Amounts as set forth
in the written direction of the Servicer and (iii) the Trustee shall use its
best efforts to promptly (but in any event within two Business Days) provide the
Rating Agencies with notice of the waiver of such Vehicle purchase restrictions.
Any Series 1997-2 Noteholder from whom the Trustee has not received a Consent on
or before the Consent Period Expiration Date will be deemed not to have
consented to such waiver of the Maximum Manufacturer Percentage or the Maximum
Non-Repurchase Percentage, as the case may be.

         Section 6.2       Consents.

         (a)      If the Trustee receives Consents from the Requisite Series
1997-2 Noteholders on or before the Consent Period Expiration Date and a Waiver
Deficiency exists, then, at the option of the Issuer, either (i) the Series
1997-2 Noteholders that consent to waive will (as described in the following two
paragraphs) receive early prepayment (in part) of the principal amount of their
Notes (such payment to be distributed to each such consenting Series 1997-2
Noteholder pro rata in the ratio that the aggregate principal amount of Series
1997-2 Notes held by such consenting Series 1997-2 Noteholders bears to the
aggregate principal amount of all Series 1997-2 Notes held by all consenting
Series 1997-2 Noteholders) until the Waiver Deficiency no longer exists (such
prepayments and premiums, "Series 1997-2 Waiver Deficiency Adjustment
Prepayments") or (ii) the Issuer, at its option, may increase the Series 1997-2
Available Subordinated Amount by an amount sufficient to cure such Waiver
Deficiency.

         (b)      If the Trustee receives Consents from the Requisite Series
1997-2 Noteholders on or before the Consent Period Expiration Date, then
(whether or not a Waiver Deficiency exists) on the immediately following
Distribution Date, the Trustee will pay the Designated Amounts, to the extent of
funds available, as follows in accordance with the written direction of the
Servicer:

                  (i)      to the non-consenting Series 1997-2 Noteholders, if
         any, pro rata up to the amount required to pay all Series 1997-2 Notes
         held by such non-consenting Series 1997-2 Noteholders in full;

                  (ii)     any remaining Designated Amounts to the consenting
         Series 1997-2 Noteholders, if any, pro rata up to the amount required
         to pay all Series 1997-2 Waiver Deficiency Adjustment Prepayments, if
         any, in full; and

                  (iii)    any remaining Designated Amounts to the Series 1997-2
         Collection Account.

                  (c)      Following such Distribution Date, the Servicer will
         allocate to the Series 1997-2 Collection Account on a daily basis all
         Designated Amounts collected on such day until the date on which the
         payments described in clauses (i) through (iii) below shall have been
         paid in full. On each following Distribution Date, the Trustee, at the
         direction of the Servicer, will withdraw a portion of such Designated
         Amounts from the Series 1997-2 Collection Account and deposit same in
         the Series 1997-2 Distribution Account for distribution as follows:

                                       47
<PAGE>   51

                  (i)      to the non-consenting Series 1997-2 Noteholders, if
         any, pro rata, in an amount equal to the sum of (A) the Series 1997-2
         Invested Percentage of the Designated Amounts in the Series 1997-2
         Collection Account as of the applicable Determination Date, plus (B)
         the Series 1997-2 Available Subordinated Amount Percentage of the
         Designated Amounts in the Series 1997-2 Collection Account as of the
         applicable Determination Date up to the aggregate principal balance of
         the Series 1997-2 Notes held by the non-consenting Series 1997-2
         Noteholders;

                  (ii)     any remaining Designated Amounts to the consenting
         Series 1997-2 Noteholders, if any, pro rata, in an amount equal to the
         sum of (A) the Series 1997-2 Invested Percentage of the Designated
         Amounts as of the applicable Determination Date,(B) the Series 1997-2
         Available Subordinated Amount Percentage of such Designated Amounts as
         of the applicable Determination Date up to the amount required to pay
         all Series 1997-2 Waiver Deficiency Adjustment Prepayments, if any, in
         full; and

                  (iii)    any remaining Designated Amounts to the Series 1997-2
         Collection Account.

         In the event that the Series 1997-2 Rapid Amortization Period shall
commence after receipt by the Trustee of a Change of Percentage Notice, all such
Designated Amounts will thereafter be considered Principal Collections allocated
to the Series 1997-2 Noteholders.

                                  ARTICLE VII.

                               AMORTIZATION EVENTS

         In addition to the Amortization Events set forth in Section 9.1 of the
Base Indenture, the following shall be Amortization Events with respect to the
Series 1997-2 Notes (without notice or other action on the part of the Trustee
or any holders of the Series 1997-2 Notes) and shall not be subject to waiver:

         (a)      A Series 1997-2 Credit Support Deficiency shall occur and
exist for more than one (1) Business Day unless during such one (1) Business Day
period the Issuer or the Servicer shall have cured the Series 1997-2 Credit
Support Deficiency in accordance with the terms and conditions of this
Supplement;

         (b)      if all principal and interest of the Series 1997-2 Notes is
not paid in full on or before the applicable Expected Final Distribution Date;

         (c)      any Related Document is not in full force and effect, or the
Issuer, Budget or the Servicer so asserts in writing;

         (d)      at any time prior to the funding of the Cash Collateral
Account pursuant to Section 5.11 of this Supplement, the Letter of Credit shall
not be in full force and effect or is repudiated, a proper draw thereon is not
honored or the Letter of Credit Provider experiences an Event of Bankruptcy;

                                       48
<PAGE>   52

         (e)      from and after the funding of the Cash Collateral Account
pursuant to Section 5.11 of this Supplement, the Cash Collateral Account shall
be subject to an injunction, estoppel or other stay or a Lien (other than Liens
permitted under the Related Documents); or

         (f)      (i) a CP Borrowing Base Deficiency shall occur and continue
for at least ten (10) days or (ii) a Liquidity Agreement Amortization Event
shall occur.

         The occurrence of the event described in clause (a) above shall also be
a Series 1997-2 Limited Liquidation Event of Default unless (i) during the
thirty (30) day period after the occurrence of the Series 1997-2 Credit Support
Deficiency the Issuer or the Servicer shall have cured the Series 1997-2 Credit
Support Deficiency and (ii) the Rating Agencies shall have notified the Issuer,
Budget and the Trustee in writing that after the cure of such Series 1997-2
Credit Support Deficiency is provided for, the Series 1997-2 Notes or the
Commercial Paper Notes will each receive the same ratings from the Rating
Agencies as they received prior to the occurrence of such Series 1997-2 Credit
Support Deficiency.

                                   ARTICLE VIII.

                                     GENERAL

         (a)      Repurchase. The Series 1997-2 Notes shall be subject to
repurchase by TFFC at its option in accordance with Section 6.3 of the Base
Indenture on any Distribution Date. The repurchase price for any Series 1997-2
Note shall equal the aggregate outstanding principal balance of such Series
1997-2 Note (determined after giving effect to any payments of principal and
interest, any allocations of Losses or Recoveries and any Increases or Decreases
as of such Distribution Date), plus accrued and unpaid interest on such
outstanding principal balance.

         (b)      Payment of Rating Agency Fees. TFFC agrees and covenants with
the Servicer to pay all reasonable fees and expenses of the Rating Agencies and
to promptly provide all documents and other information that the Rating Agencies
may reasonably request.

         (c)      Exhibits. The following exhibits attached hereto supplement
the exhibits included in the Indenture.

         Exhibit A: Form of Series 1997-2 Note

         Exhibit B: Form of Consent

         Exhibit C: Form of Notice of Series 1997-2 Lease Payment Deficit

         Exhibit D: List of Approved Manufacturers

         (d)      Ratification of Base Indenture. As supplemented by this
Supplement, the Base Indenture is in all respects ratified and confirmed and the
Base Indenture as so supplemented by this Series Supplement shall be read,
taken, and construed as one and the same instrument.

                                       49
<PAGE>   53

         (e)      Counterparts. This Supplement may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but
all of such counterparts shall together constitute but one and the same
instrument.

         (F)      GOVERNING LAW. THIS SUPPLEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAW 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 LAW.

         (g)      Amendments. This Supplement may be modified or amended from
time to time in accordance with the terms of the Base Indenture; provided,
however, that if, pursuant to the terms of the Base Indenture or this
Supplement, the consent of the Required Noteholders is required for an amendment
or modification of this Supplement, such requirement shall be satisfied if such
amendment or modification is consented to by Noteholders representing more than
50% of the aggregate outstanding principal amount of the Series 1997-2 Notes
affected thereby.

         (h)      Discharge of Indenture. Notwithstanding anything to the
contrary contained in the Base Indenture, no discharge of the Indenture pursuant
to Section 11.1(b) of the Base Indenture will be effective as to the Series
1997-2 Notes without the consent of the Required Noteholders.

         (i)      Limitation on Release of Liens by Servicer. Notwithstanding
anything to the contrary contained in the Base Indenture, the Series 1997-2
Lease or any other Related Document, no lien for the benefit of the Trustee on
any Repurchase Vehicle leased under the Series 1997-2 Lease shall be released or
deemed to be released by the Servicer if the release of such lien would cause an
Amortization Event (or an event which, with the giving of notice, the passage of
time, or both, would become an Amortization Event) with respect to the Series
1997-2 Notes.

                                       50
<PAGE>   54

         IN WITNESS WHEREOF, TFFC, the Servicer, Budget, as Team Interestholder
and the Trustee have caused this Supplement to be duly executed by their
respective officers thereunto duly authorized as of the day and year first above
written.

                                            TEAM FLEET FINANCING CORPORATION

                                            By:
                                               ---------------------------------
                                                  Name:
                                                  Title:

                                            BUDGET GROUP, INC., as Servicer

                                            By:
                                               ---------------------------------
                                                  Name:
                                                  Title:

                                            BUDGET GROUP, INC., as Team
                                            Interestholder

                                            By:
                                               ---------------------------------
                                                  Name:
                                                  Title:

                                            BANKERS TRUST COMPANY, as Trustee

                                            By:
                                               ---------------------------------
                                                  Name:
                                                  Title:

<PAGE>   55

                                   Schedule I

                        Maximum Manufacturer Percentages

                                      None

                                       52<PAGE>   1

                                                                     EXHIBIT 4.1

070204

---------                        [NETZEE LOGO]                         ---------
 NUMBER                                                                 SHARES
NTZ
---------                                                              ---------

COMMON STOCK                                                        COMMON STOCK

                                  NETZEE, INC.

              INCORPORATED UNDER THE LAWS OF THE STATE OF GEORGIA
                                                               CUSIP 64122W 30 6

This Certifies that

                                                               SEE REVERSE FOR
                                                             CERTAIN DEFINITIONS

is the owner of

   FULLY PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK, NO PAR VALUE, OF

NETZEE, INC. transferable on the books of the Corporation by the holder hereof
in person or by duly authorized attorney upon surrender of this Certificate
properly endorsed.
         This Certificate is not valid unless countersigned and registered by
the Transfer Agent and Registrar.
         WITNESS the facsimile seal of the Corporation and the facsimile
signatures of its duly authorized officers.

         Dated:

<Table>
<S>                                                <C>                  <C>
/s/                                                [SEAL]               /s/
-------------------------------------                                   -------------------------------------
  SENIOR EXECUTIVE VICE PRESIDENT,                                                  PRESIDENT AND
CHIEF FINANCIAL OFFICER AND SECRETARY                                         CHIEF EXECUTIVE OFFICER

                                           COUNTERSIGNED AND REGISTERED:
                                                   SUNTRUST BANK
                                                                                                TRANSFER AGENT
                                                                                                 AND REGISTRAR

                                            BY

                                                                                          AUTHORIZED SIGNATURE
</Table>
<PAGE>   2
                                  NETZEE, INC.

         The Corporation will furnish without charge to each shareholder who so
requests a statement or summary of the powers, designations, preferences and
relative, participating, optional or other special rights of each class of
stock or series thereof that the Corporation is authorized to issue and of the
qualifications, limitations or restrictions of such preferences and/or rights.

         The following abbreviations, when used in the inscription on the face
of this Certificate, shall be construed as though they were written out in
their entirety according to applicable laws or regulations:

<TABLE>
         <S>                                                    <C>
         TEN COM -- as tenants in common                       UNIF GIFT MIN ACT--____________________as Custodian for
         TEN ENT -- as tenants by the entireties                                   ____________________________________
         JT TEN  -- as joint tenants with right                                                  (Minor)
                    of survivorship and not as tenants                             under Uniform Gifts to Minors Act of
                    in common                                                      ____________________________________
                                                                                                 (State)
</TABLE>

    Additional abbreviations may also be used though not in the above list.

         FOR VALUE RECEIVED, _________________ hereby sell, assign and transfer
unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
    IDENTIFYING NUMBER OF ASSIGNEE
______________________________________

______________________________________

_______________________________________________________________________________
 (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

_______________________________________________________________________________

_______________________________________________________________________________

_________________________________________________________________________Shares
of the common stock represented by this Certificate, and do hereby irrevocably
constitute and appoint

_______________________________________________________________________Attorney
to transfer such stock on the books of the Corporation with full power of
substitution in the premises.

Dated________________________

                             __________________________________________________
                             THE SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND
                     NOTICE: WITH THE NAME AS WRITTEN UPON THE FACE OF THE
                             CERTIFICATE IN EVERY PARTICULAR, WITHOUT
                             ALTERATION OR ENLARGEMENT, OR ANY CHANGE WHATEVER.

    Signature(s) Guaranteed: __________________________________________________
                             THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN
                             ELIGIBLE GUARANTOR INSTITUTION SUCH AS A SECURITIES
                             BROKER/DEALER, COMMERCIAL BANK, TRUST COMPANY,
                             SAVINGS ASSOCIATION OR A CREDIT UNION PARTICIPATING
                             IN A MEDALLION PROGRAM.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}]]