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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">UNITED
  STATES</font></div>
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  AND EXCHANGE COMMISSION</font></div>
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  D.C. 20549</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">FORM
  8-K</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
  REPORT</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PURSUANT
  TO SECTION 13 OR 15(D) OF THE</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
  EXCHANGE ACT OF 1934</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
  report (Date of earliest event reported): <font style="DISPLAY: inline; FONT-WEIGHT: bold; TEXT-DECORATION: underline">March 11,
  2010 (March 10, 2010)</font></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 25pt; FONT-FAMILY: Times New Roman">Avis
  Budget Group, Inc.</font></div>
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  name of registrant as specified in its charter)</font></div>
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        </font></td>
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              <td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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              <td valign="top" width="27%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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        Sylvan Way</font></div>
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              <td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td colspan="2" valign="top" width="27%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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              <td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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              <td valign="top" width="27%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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              <td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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              <td valign="top" width="27%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
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              <td colspan="6" valign="top" width="84%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">N/A</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Former
        name or former address, if changed since last
    report)</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check the
  appropriate box below if the Form 8-K filing is intended to simultaneously
  satisfy the filing obligation of the registrant under any of the following
  provisions (see General Instruction A.2. below):</font></div>
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                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
        communications pursuant to Rule 425 under the Securities Act (17 CFR
        230.425)</font></div>
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                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
        material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
        240.14a-12)</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
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                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">o</font></font></div>
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                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
        communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
        240.14d-2(b))</font></div>
              </td>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
  <tr valign="top">
              <td style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
        </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">o</font></font></div>
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              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
        communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
        240.13e-4(c))</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
        <div>
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
  <tr>
                <td valign="top" width="8%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1.01</font></div>
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        </font></td>
                <td valign="top" width="75%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Entry
        into a Material Definitive
  Agreement</font></div>
                </td>
              </tr></table>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Avis
  Budget Group, Inc. (the &#8220;Company&#8221;) announced that it entered into an indenture
  on March&#160;10, 2010 with respect to the sale by its wholly-owned subsidiary,
  Avis Budget Car Rental, LLC (&#8220;ABCR&#8221;), of $450 million aggregate principal amount
  of 9<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">&#160;<font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">5</font></font>/<font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">8</font>% senior notes due
  2018 at an issue price of 98.634% (the &#8220;Notes&#8221;).&#160; In connection with such
  sale, the Company also entered into a registration rights agreement <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">with the
  initial purchasers of the Notes,</font>&#160;under which we have agreed to use
  our reasonable best efforts to file with the Securities and Exchange Commission
  and cause to become effective a registration statement with respect to a
  registered offer to exchange the Notes for new notes, with terms substantially
  identical in all material respects to the Notes.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Notes
  were issued in a private offering that is exempt from the registration
  requirements of the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;),
  to qualified institutional buyers in accordance with Rule 144A and to persons
  outside of the United States pursuant to Regulation S under the Securities Act.
  The Notes are senior unsecured obligations of ABCR and will be guaranteed on a
  senior basis by the Company and certain of its domestic
  subsidiaries.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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  is payable on the Notes on each March 15 and September 15, commencing September
  15, 2010.&#160;&#160;The Company may redeem some or all of the Notes at any time
  prior to March 15, 2014 at a price equal to 100% of the principal amount of the
  Notes redeemed plus accrued and unpaid interest, if any, and an applicable
  make-whole premium. On or after March 15, 2014, the Company may redeem some or
  all of the Notes at redemption prices set forth in the indenture.&#160;&#160;In
  addition, at any time prior to March 15, 2013, the Company may redeem up to 35%
  of the aggregate principal amount of the Notes at a specified redemption price
  with the net cash proceeds of certain equity offerings.</font></div><br>
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  indenture contains contain covenants that, among other things, restrict the
  ability of ABCR and the ability of certain of its subsidiaries to: incur, assume
  or guarantee additional indebtedness; pay dividends or redeem or repurchase
  capital stock; make other restricted payments; incur liens; redeem debt that is
  junior in right of payment to the Notes; sell or otherwise dispose of assets,
  including capital stock of subsidiaries; enter into mergers or consolidations;
  enter into transactions with affiliates; and enter into new lines of businesses.
  These covenants are subject to a number of important exceptions and
  qualifications. In addition, in certain circumstances, if ABCR sells assets or
  experiences cetain changes of control, it must offer to purchase the
  Notes.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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  proceeds from the offering, were primarily used to repay outstanding
  indebtedness under the Company's floating rate term loan.&#160; In connection
  with such repayment, the Company also announced that ABCR has entered into the
  Second Amendment, dated as of March 10, 2010, to the Credit Agreement dated as
  of April 19, 2006, as amended by the First Amendment dated as of December 23,
  2008 with JPMorgan Chase Bank, N.A., as Administrative Agent and the other
  lenders parties thereto (the &#8220;Second Amendment&#8221;).&#160; As a result of such
  amendment, (i) the aggregate revolving commitments under the Company&#8217;s senior
  credit facilities are now $1.2 billion, with $983.2 million of such commitments
  having a term ending on April 19, 2013 and the balance having a term ending on
  April 19, 2011; and (ii) the term loan outstanding has been reduced to $324.8
  million, with $272.8 million maturing on the earlier of (a) April 19, 2014 or
  (b) 91 calendar days prior to the maturity of our senior unsecured notes due
  2014, if such senior unsecured notes are still outstanding on such date, and the
  balance maturing on April 19, 2012.&#160; Pursuant to the Second Amendment, the
  financial and other covenants and certain other provisions <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">of our
  senior credit agreement </font>were amended and pricing was also amended for the
  portion of the facility terminating/maturing after 2012, as set forth in the
  Second Amendment, a copy of which is filed as <font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit
  10.1</font>.</font></div>
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  initial offering of the Notes and the related guarantees will not be registered
  under the Securities Act and the Notes and the Guarantees may not be offered or
  sold in the United States absent registration or an applicable exemption from
  registration requirements.&#160;This current report on Form 8-K is neither an
  offer to sell nor a solicitation of an offer to buy the Notes or any other
  securities and shall not constitute an offer, solicitation or sale in any
  jurisdiction in which such offering, solicitation or sale would be
  unlawful.</font></div>
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  foregoing summary does not purport to be complete and is qualified in its
  entirety by reference to the complete terms of the Second Amendment, the
  indenture, a copy of which is filed as <font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit 4.1</font> hereto,
  the Notes, the form of which is filed as <font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit 4.2</font> and the
  registration rights agreement, a copy of which is filed as <font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit 10.2</font> hereto,
  and all of which are incorporated herein by reference.</font></div>
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          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
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      <div>&#160;</div>
      <div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><br>
        <div>
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  <tr>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">8.01</font></div>
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  the offering of the Notes and the Second Amendment, a copy of which is furnished
  as <font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit&#160;99.1</font>
  hereto.</font></div>
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        dated as of March 10, 2010 among Avis Budget Car Rental, LLC and Avis
        Budget Finance, Inc., as Issuers, the Guarantors from time to time parties
        thereto and The Bank of Nova Scotia Trust Company of New York as
        Trustee.</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              </td>
            </tr><tr>
              <td valign="top" width="16%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.2</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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              <td valign="top" width="16%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.1</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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        April 19, 2006, as amended by the First Amendment dated as of December 23,
        2008, among Avis Budget Holdings, LLC, Avis Budget Car Rental, LLC, the
        subsidiary borrowers from time to time parties thereto, the several
        lenders from time to time parties thereto, Bank of America, N.A., Credit
        Agricole Corporate &amp; Investment Bank New York Branch (formerly known
        as Calyon) and Citicorp USA, Inc. as documentation agents, Wachovia Bank,
        National Association as co-documentation agent, Deutsche Bank Securities
        Inc. as syndication agent and JPMorgan Chase Bank, N.A., as administrative
        agent.</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              </td>
            </tr><tr>
              <td valign="top" width="16%">
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                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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              <td align="left" valign="top" width="82%">
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        Rights Agreement, dated March 10, 2010, among Avis Budget Car Rental, LLC
        and Avis Budget Finance, Inc., the guarantors parties thereto, Banc of
        America Securities LLC, and the other initial purchasers parties
        thereto.</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              </td>
            </tr><tr>
              <td valign="top" width="16%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.1</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td align="left" valign="top" width="82%">
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              </td>
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              <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td valign="top" width="82%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
            </tr><tr>
              <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td valign="top" width="82%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
            </tr><tr>
              <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td valign="top" width="82%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
            </tr><tr>
              <td valign="top" width="16%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td valign="top" width="82%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
            </tr></table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
  to the requirements of the Securities Exchange Act of 1934, the registrant has
  duly caused this report to be signed on its behalf by the undersigned hereto
  duly authorized.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
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  <tr>
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        </font></td>
              <td align="left" valign="top" width="3%">
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              </td>
              <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td align="left" valign="top" width="37%" style="BORDER-BOTTOM: black 2px solid">
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            </tr><tr>
              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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              </td>
            </tr><tr>
              <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td colspan="2" valign="top" width="6%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td valign="top" width="37%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
            </tr></table>
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      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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  March 11, 2010</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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            <div id="HDR">&#160;</div>
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      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">AVIS
  BUDGET GROUP, INC.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
  REPORT ON FORM 8-K</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Report
  Dated <font style="DISPLAY: inline; FONT-SIZE: 10pt; TEXT-DECORATION: underline">March 11,
  2010 (March 10, 2010)</font></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT
  INDEX</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
  <tr>
              <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exhibit
        No.</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td align="left" valign="top" width="67%" style="BORDER-BOTTOM: black 2px solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Description</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.1</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td align="left" valign="top" width="67%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Indenture
        dated as of March 10, 2010 among Avis Budget Car Rental, LLC and Avis
        Budget Finance, Inc., as Issuers, the Guarantors from time to time parties
        thereto and The Bank of Nova Scotia Trust Company of New York as
        Trustee.</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              </td>
            </tr><tr>
              <td valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">4.2</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td align="left" valign="top" width="67%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Form
        of 9 5/8% Senior Notes Due 2018.</font></div>
              </td>
            </tr><tr>
              <td valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.1</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td align="left" valign="top" width="67%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Second
        Amendment, dated as of March 10, 2010, to the Credit Agreement dated as of
        April 19, 2006, as amended by the First Amendment dated as of December 23,
        2008, among Avis Budget Holdings, LLC, Avis Budget Car Rental, LLC, the
        subsidiary borrowers from time to time parties thereto, the several
        lenders from time to time parties thereto, Bank of America, N.A., Credit
        Agricole Corporate &amp; Investment Bank New York Branch (formerly known
        as Calyon) and Citicorp USA, Inc. as documentation agents, Wachovia Bank,
        National Association as co-documentation agent, Deutsche Bank Securities
        Inc. as syndication agent and JPMorgan Chase Bank, N.A., as administrative
        agent.</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              </td>
            </tr><tr>
              <td valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.2</font></div>
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
        </font></td>
              <td align="left" valign="top" width="67%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Registration
        Rights Agreement, dated March 10, 2010, among Avis Budget Car Rental, LLC
        and Avis Budget Finance, Inc., the guarantors parties thereto, Banc of
        America Securities LLC, and the other initial purchasers parties
        thereto.</font></div>
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              </td>
            </tr><tr>
              <td valign="top" width="13%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.1</font></div>
              </td>
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        </font></td>
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        Release issued March 10, 2010.</font></div>
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text: abg8k03102010.htm
  UNITED
  STATES
  SECURITIES
  AND EXCHANGE COMMISSION
  WASHINGTON,
  D.C. 20549
  FORM
  8-K
  CURRENT
  REPORT
  PURSUANT
  TO SECTION 13 OR 15(D) OF THE
  SECURITIES
  EXCHANGE ACT OF 1934
  Date of
  report (Date of earliest event reported):
  March 11,
  2010 (March 10, 2010)
  Avis
  Budget Group, Inc.
  (Exact
  name of registrant as specified in its charter)
  Delaware
  1-10308
  06-0918165
  (State
        or Other Jurisdiction of Incorporation)
  (Commission
        File Number)
  (IRS
        Employer Identification Number)
  6
        Sylvan Way
  Parsippany,
        NJ
  07054
  (Address
        of Principal Executive Offices)
  (Zip
        Code)
  (973)
        496-4700
  (Registrant's
        telephone number, including area code)
  N/A
  (Former
        name or former address, if changed since last
    report)
  Check the
  appropriate box below if the Form 8-K filing is intended to simultaneously
  satisfy the filing obligation of the registrant under any of the following
  provisions (see General Instruction A.2. below):
  o
  Written
        communications pursuant to Rule 425 under the Securities Act (17 CFR
        230.425)
  o
  Soliciting
        material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
        240.14a-12)
  o
  Pre-commencement
        communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
        240.14d-2(b))
  o
  Pre-commencement
        communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
        240.13e-4(c))
  1.01
  Entry
        into a Material Definitive
  Agreement
  Avis
  Budget Group, Inc. (the "Company") announced that it entered into an indenture
  on March 10, 2010 with respect to the sale by its wholly-owned subsidiary,
  Avis Budget Car Rental, LLC ("ABCR"), of $450 million aggregate principal amount
  of 9
  5
  /
  8
  % senior notes due
  2018 at an issue price of 98.634% (the "Notes").  In connection with such
  sale, the Company also entered into a registration rights agreement
  with the
  initial purchasers of the Notes,
  under which we have agreed to use
  our reasonable best efforts to file with the Securities and Exchange Commission
  and cause to become effective a registration statement with respect to a
  registered offer to exchange the Notes for new notes, with terms substantially
  identical in all material respects to the Notes.
  The Notes
  were issued in a private offering that is exempt from the registration
  requirements of the Securities Act of 1933, as amended (the "Securities Act"),
  to qualified institutional buyers in accordance with Rule 144A and to persons
  outside of the United States pursuant to Regulation S under the Securities Act.
  The Notes are senior unsecured obligations of ABCR and will be guaranteed on a
  senior basis by the Company and certain of its domestic
  subsidiaries.
  Interest
  is payable on the Notes on each March 15 and September 15, commencing September
  15, 2010.  The Company may redeem some or all of the Notes at any time
  prior to March 15, 2014 at a price equal to 100% of the principal amount of the
  Notes redeemed plus accrued and unpaid interest, if any, and an applicable
  make-whole premium. On or after March 15, 2014, the Company may redeem some or
  all of the Notes at redemption prices set forth in the indenture.  In
  addition, at any time prior to March 15, 2013, the Company may redeem up to 35%
  of the aggregate principal amount of the Notes at a specified redemption price
  with the net cash proceeds of certain equity offerings.
  The
  indenture contains contain covenants that, among other things, restrict the
  ability of ABCR and the ability of certain of its subsidiaries to: incur, assume
  or guarantee additional indebtedness; pay dividends or redeem or repurchase
  capital stock; make other restricted payments; incur liens; redeem debt that is
  junior in right of payment to the Notes; sell or otherwise dispose of assets,
  including capital stock of subsidiaries; enter into mergers or consolidations;
  enter into transactions with affiliates; and enter into new lines of businesses.
  These covenants are subject to a number of important exceptions and
  qualifications. In addition, in certain circumstances, if ABCR sells assets or
  experiences cetain changes of control, it must offer to purchase the
  Notes.
  Net
  proceeds from the offering, were primarily used to repay outstanding
  indebtedness under the Company's floating rate term loan.  In connection
  with such repayment, the Company also announced that ABCR has entered into the
  Second Amendment, dated as of March 10, 2010, to the Credit Agreement dated as
  of April 19, 2006, as amended by the First Amendment dated as of December 23,
  2008 with JPMorgan Chase Bank, N.A., as Administrative Agent and the other
  lenders parties thereto (the "Second Amendment").  As a result of such
  amendment, (i) the aggregate revolving commitments under the Company's senior
  credit facilities are now $1.2 billion, with $983.2 million of such commitments
  having a term ending on April 19, 2013 and the balance having a term ending on
  April 19, 2011; and (ii) the term loan outstanding has been reduced to $324.8
  million, with $272.8 million maturing on the earlier of (a) April 19, 2014 or
  (b) 91 calendar days prior to the maturity of our senior unsecured notes due
  2014, if such senior unsecured notes are still outstanding on such date, and the
  balance maturing on April 19, 2012.  Pursuant to the Second Amendment, the
  financial and other covenants and certain other provisions
  of our
  senior credit agreement
  were amended and pricing was also amended for the
  portion of the facility terminating/maturing after 2012, as set forth in the
  Second Amendment, a copy of which is filed as
  Exhibit
  10.1
  .
  The
  initial offering of the Notes and the related guarantees will not be registered
  under the Securities Act and the Notes and the Guarantees may not be offered or
  sold in the United States absent registration or an applicable exemption from
  registration requirements. This current report on Form 8-K is neither an
  offer to sell nor a solicitation of an offer to buy the Notes or any other
  securities and shall not constitute an offer, solicitation or sale in any
  jurisdiction in which such offering, solicitation or sale would be
  unlawful.
  The
  foregoing summary does not purport to be complete and is qualified in its
  entirety by reference to the complete terms of the Second Amendment, the
  indenture, a copy of which is filed as
  Exhibit 4.1
  hereto,
  the Notes, the form of which is filed as
  Exhibit 4.2
  and the
  registration rights agreement, a copy of which is filed as
  Exhibit 10.2
  hereto,
  and all of which are incorporated herein by reference.
  8.01
  Other
        Events.
  On
  March 10, 2010, the Company issued a press release announcing completion of
  the offering of the Notes and the Second Amendment, a copy of which is furnished
  as
  Exhibit 99.1
  hereto.
  9.01
  Financial
        Statements and
  Exhibits.
  (99)
  Exhibits.
  Exhibit
        No.
  Description
  4.1
  Indenture
        dated as of March 10, 2010 among Avis Budget Car Rental, LLC and Avis
        Budget Finance, Inc., as Issuers, the Guarantors from time to time parties
        thereto and The Bank of Nova Scotia Trust Company of New York as
        Trustee.
  4.2
  Form
        of 9 5/8% Senior Notes Due 2018.
  10.1
  Second
        Amendment, dated as of March 10, 2010, to the Credit Agreement dated as of
        April 19, 2006, as amended by the First Amendment dated as of December 23,
        2008, among Avis Budget Holdings, LLC, Avis Budget Car Rental, LLC, the
        subsidiary borrowers from time to time parties thereto, the several
        lenders from time to time parties thereto, Bank of America, N.A., Credit
        Agricole Corporate & Investment Bank New York Branch (formerly known
        as Calyon) and Citicorp USA, Inc. as documentation agents, Wachovia Bank,
        National Association as co-documentation agent, Deutsche Bank Securities
        Inc. as syndication agent and JPMorgan Chase Bank, N.A., as administrative
        agent.
  10.2
  Registration
        Rights Agreement, dated March 10, 2010, among Avis Budget Car Rental, LLC
        and Avis Budget Finance, Inc., the guarantors parties thereto, Banc of
        America Securities LLC, and the other initial purchasers parties
        thereto.
  99.1
  Press
        Release issued March 10, 2010.
  SIGNATURES
  Pursuant
  to the requirements of the Securities Exchange Act of 1934, the registrant has
  duly caused this report to be signed on its behalf by the undersigned hereto
  duly authorized.
  AVIS BUDGET GROUP, INC.
  By:
  /s/ Jean
        M. Sera
  Name:
  Jean
        M. Sera
  Title:
  Senior
        Vice President and Secretary
  Date:
  March 11, 2010
  AVIS
  BUDGET GROUP, INC.
  CURRENT
  REPORT ON FORM 8-K
  Report
  Dated
  March 11,
  2010 (March 10, 2010)
  EXHIBIT
  INDEX
  Exhibit
        No.
  Description
  4.1
  Indenture
        dated as of March 10, 2010 among Avis Budget Car Rental, LLC and Avis
        Budget Finance, Inc., as Issuers, the Guarantors from time to time parties
        thereto and The Bank of Nova Scotia Trust Company of New York as
        Trustee.
  4.2
  Form
        of 9 5/8% Senior Notes Due 2018.
  10.1
  Second
        Amendment, dated as of March 10, 2010, to the Credit Agreement dated as of
        April 19, 2006, as amended by the First Amendment dated as of December 23,
        2008, among Avis Budget Holdings, LLC, Avis Budget Car Rental, LLC, the
        subsidiary borrowers from time to time parties thereto, the several
        lenders from time to time parties thereto, Bank of America, N.A., Credit
        Agricole Corporate & Investment Bank New York Branch (formerly known
        as Calyon) and Citicorp USA, Inc. as documentation agents, Wachovia Bank,
        National Association as co-documentation agent, Deutsche Bank Securities
        Inc. as syndication agent and JPMorgan Chase Bank, N.A., as administrative
        agent.
  10.2
  Registration
        Rights Agreement, dated March 10, 2010, among Avis Budget Car Rental, LLC
        and Avis Budget Finance, Inc., the guarantors parties thereto, Banc of
        America Securities LLC, and the other initial purchasers parties
        thereto.
  99.1
  Press
        Release issued March 10, 2010.