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        Cendant Corporation 8-K dated July 19, 2006
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
        STATES</strong></font></div>
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        AND EXCHANGE COMMISSION</strong></font></div>
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        D.C. 20549</strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">____________</font></div>
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        8-K</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
        REPORT </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PURSUANT
        TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">____________</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; 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><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>July
        19, 2006 (July 18, 2006)</u></strong></font></div>
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        Corporation </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>(Exact
        name of Registrant as specified in its charter)</em></font></div>
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              <td align="left" valign="top" width="3%" style="border-bottom: white thin solid;">&#160;</td>
              <td valign="top" width="23%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>(State
                  or other jurisdiction</em></font></div>
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                  incorporation)</em></font></div>
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                  File No.)</em></font></div>
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                  Employer</em></font></div>
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                  Number)</em></font></div>
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                  West 57</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup><strong>th</strong></sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>
                  Street</strong></font></div>
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                  of principal </em></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>executive
                  office)</em></font></div>
              </td>
              <td valign="top" width="28%" style="border-bottom: white thin solid;">&#160;</td>
              <td valign="top" width="24%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>10019</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>(Zip
                  Code)</em></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant's
        telephone number, including area code </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>(212)
        413-1800</u></strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>None</strong></font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; 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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                  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:</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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                  Written communications pursuant to Rule 425 under the Securities
                  Act (17
                  CFR 230.425)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[&#160;&#160;]
                  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
                  (17 CFR
                  240.14a-12)</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[&#160;&#160;]
                  Pre-commencement communications pursuant to Rule 14d-2(b) under the
                  Exchange Act (17 CFR 240.14d-2(b))</font></div>
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                  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: 54pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 36pt" align="justify"><br></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                  1.01 </strong></font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Entry
                  into a Material Definitive
                  Agreement.</strong></font></div>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        July&#160;18, 2006, our Travelport Inc. (&#8220;Travelport&#8221;) subsidiary entered into a
        new $2,200 million 364-day credit facility, consisting of a $400 million
        revolving credit facility and a $1,800 million term loan facility (the agreement
        pursuant to which such facility was entered into is referred to herein as the
        &#8220;Credit Agreement&#8221;). </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        new
        facility includes affirmative covenants, including the maintenance of specific
        financial ratios. These financial covenants consist of a minimum interest
        coverage ratio of at least 3.0 times as of the measurement date and a maximum
        leverage ratio not to exceed 4.5 times on the measurement date. Negative
        covenants in the new credit facility include limitations on indebtedness of
        material subsidiaries; liens; mergers, consolidations, liquidations,
        dissolutions and sales of substantially all assets; and sale and leasebacks.
        Events of default in the new credit facility include nonpayment of principal
        when due; nonpayment of interest, fees or other amounts; violation of covenants;
        cross payment default and cross acceleration (in each case, to indebtedness
        (excluding securitization indebtedness) in excess of $50 million); and a change
        of control (the definition of which will permit a spin-off of
        Travelport).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">It
        is
        Cendant&#8217;s intent to repay any outstanding borrowings under the credit facility
        in conjunction with the closing of the previously announced sale of Travelport.
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        July&#160;18, 2006, Cendant entered into a guaranty of Travelport&#8217;s obligations
        under the Credit Agreement (the &#8220;Credit Agreement Guaranty&#8221;); however, upon the
        repayment of amounts outstanding under the Credit Agreement as contemplated
        by
        the purchase agreement in connection with the proposed sale of Travelport,
        such
        Credit Agreement Guaranty and all obligations of Cendant thereunder shall
        unconditionally terminate. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
        copy of
        the Credit Agreement and the Credit Agreement Guaranty are attached hereto
        as
  </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibits
        10.1</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        and
  </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>10.2</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        respectively, and are incorporated by reference herein. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certain
        of the lenders party to the Credit Agreement and the Credit Agreement Guaranty
        and their respective affiliates, have performed, and may in the future perform,
        various commercial banking, investment banking and other financial advisory
        services for Cendant, Travelport and their subsidiaries for which they have
        received, and will receive, customary fees and expenses. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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              <td align="left" valign="top" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                  2.02 </strong></font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Results
                  of Operations and Financial
                  Condition.</strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        July
        19, 2006, we issued a press release which, among other things, disclosed that
        we
        expect to report our financial results of the Company&#8217;s operations for the
        second quarter on August 9</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        as well
        as our expectations with respect to certain of such financial results. A copy
        of
        the press release issued on July 19, 2006 is attached hereto as </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibit
        99.1</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        and that
        portion of the press release relating to our expectations with respect to the
        second quarter 2006 is incorporated by reference into this item.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">
  
            <tr>
              <td align="left" valign="top" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                  2.03</strong></font></div>
              </td>
              <td align="justify" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Creation
                  of a Direct Financial Obligation or an Obligation under an Off-Balance
                  Sheet Arrangement of a Registrant.
  </strong></font></div>
              </td>
            </tr>
  
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        information described above under &#8220;Item&#160;1.01. Entry into a Material
        Definitive Agreement&#8221; is incorporated herein by reference. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">
  
            <tr>
              <td align="left" valign="top" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                  7.01</strong></font></div>
              </td>
              <td align="justify" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Regulation
                  FD Disclosure.</strong></font></div>
              </td>
            </tr>
  
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        July
        19, 2006, we announced that &#8220;when issued&#8221; trading in the common stock of Realogy
        Corporation and Wyndham Worldwide Corporation is expected to begin on the New
        York Stock Exchange today. In addition, we updated our forecasts and reported
        certain information with respect to our financial results of operations for
        the
        second quarter 2006.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
        copy of
        the press release issued on July 19, 2006 is attached hereto as </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibit
        99.1</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        and is
        incorporated by reference herein.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Information
        Relating to Avis Budget Car Rental, LLC</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cendant
        intends to post in the &#8220;Investor Center&#8221; section of its website at </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>www.cendant.com</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        additional information related to Avis Budget Car Rental, LLC and its
        subsidiaries, the companies that make up Cendant's vehicle rental business.
        The
        information includes historical and pro forma financial information of Avis
        Budget Car Rental and its subsidiaries. The vehicle rental business will
        continue to be owned by Cendant following the completion of the separation
        of
        Cendant into four separate companies. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">
  
            <tr>
              <td align="left" valign="top" width="11%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
                  9.01 </strong></font></div>
              </td>
              <td align="left" valign="top" width="69%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Financial
                  Statements and Exhibits.</strong></font></div>
              </td>
            </tr>
  
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
  
          <tr valign="top" style="line-height: 1.25;">
            <td align="right" style="width: 54pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;</font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibits</font></div>
            </td>
          </tr>
  
      </table>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div align="left">
        <table border="0" cellpadding="0" cellspacing="0" width="100%">
  
            <tr bgcolor="#e2eef6">
              <td valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 3.1pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.1</font></div>
              </td>
              <td align="justify" valign="top" width="2%">&#160;</td>
              <td align="left" valign="top" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Credit
                  Agreement, dated as of July&#160;18, 2006, among Travelport Inc., as
                  Borrower, Galileo International Technology, LLC, as a Subsidiary
                  Borrower,
                  certain financial institutions as lenders, JPMorgan Chase Bank, N.A.,
                  as
                  Administrative Agent, and Bank of America, N.A. and Citicorp North
                  America, Inc., as Syndication Agents.</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="justify" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 3.1pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.2</font></div>
              </td>
              <td align="justify" valign="top" width="2%">&#160;</td>
              <td align="left" valign="top" width="70%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Guaranty,
                  dated as of July 18, 2006, made by Cendant Corporation in favor of
                  JPMorgan Chase Bank, N.A., as Administrative Agent for the banks
                  and other
                  financial institutions or entities (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Lenders</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
                  from time to time parties to the Credit Agreement, dated as of July
                  18,
                  2006 among Travelport Inc., as Borrower, Galileo International Technology,
                  LLC, as Subsidiary Borrower, the Subsidiary Borrowers from time to
                  time
                  parties to the Credit Agreement and Bank of America, N.A. and Citicorp
                  North America, Inc., as Syndication Agents.</font></div>
              </td>
            </tr>
            <tr bgcolor="#e2eef6">
              <td align="justify" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 3.1pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
              </td>
              <td align="justify" valign="top" width="2%">&#160;</td>
              <td align="left" valign="top" width="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                  Release dated July 19, 2006.</font></div>
              </td>
            </tr>
  
        </table>
      </div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 36pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURE</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
        to the requirements of the Securities Exchange Act of 1934, as amended, the
        registrant has duly caused this report to be signed on its behalf by the
        undersigned hereunto duly authorized.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">
  
            <tr>
              <td align="justify" valign="top" width="40%">&#160;</td>
              <td align="justify" valign="top" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CENDANT
                  CORPORATION</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
                <div>&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="right" valign="top" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:</font></div>
              </td>
              <td align="justify" valign="top" width="40%" style="border-bottom: black double;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/
                  Eric J. Bock</font></div>
              </td>
            </tr>
            <tr>
              <td align="justify" valign="top" width="40%">&#160;</td>
              <td align="justify" valign="top" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Eric
                  J. Bock</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Executive
                  Vice President, Law </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and
                  Corporate Secretary</font></div>
              </td>
            </tr>
  
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:
        July 19, 2006</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 279pt">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CENDANT
        CORPORATION</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
        REPORT ON FORM 8-K</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Report
        Dated </strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>July
        19, 2006 (July 18, 2006)</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
        INDEX</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
        <table border="0" cellpadding="0" cellspacing="0" width="100%">
  
            <tr bgcolor="white">
              <td valign="top" width="7%">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<strong><u>Exhibit
                  No.</u></strong></font></div>
                <div>&#160;</div>
              </td>
              <td align="justify" 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="70%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<u><strong>Description</strong></u></font></td>
            </tr>
            <tr bgcolor="#e2eef6">
              <td valign="top" width="7%">
                <div style="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>
              </td>
              <td align="justify" 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="70%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Credit
                  Agreement, dated as of July&#160;18, 2006, among Travelport Inc., as
                  Borrower, Galileo International Technology, LLC, as a Subsidiary
                  Borrower,
                  certain financial institutions as lenders, JPMorgan Chase Bank, N.A.,
                  as
                  Administrative Agent, and Bank of America, N.A. and Citicorp North
                  America, Inc., as Syndication Agents.</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td align="justify" valign="top" width="7%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 3.1pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.2</font></div>
              </td>
              <td align="justify" valign="top" width="2%">&#160;</td>
              <td align="left" valign="top" width="70%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Guaranty,
                  dated as of July 18, 2006, made by Cendant Corporation in favor of
                  JPMorgan Chase Bank, N.A., as Administrative Agent for the banks
                  and other
                  financial institutions or entities (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Lenders</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
                  from time to time parties to the Credit Agreement, dated as of July
                  18,
                  2006 among Travelport Inc., as Borrower, Galileo International Technology,
                  LLC, as Subsidiary Borrower, the Subsidiary Borrowers from time to
                  time
                  parties to the Credit Agreement and Bank of America, N.A. and Citicorp
                  North America, Inc., as Syndication Agents.</font></div>
              </td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                  Release dated July 19, 2006.</font></div>
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metadata_filer: {"company-data": {"conformed-name": "CENDANT CORP", "cik": "0000723612", "assigned-sic": "6531", "irs-number": "060918165", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-10308", "film-number": "06969781"}, "business-address": {"street1": "9 WEST 57TH STREET", "city": "NEW YORK", "state": "NY", "zip": "10019", "phone": "2124131800"}, "mail-address": {"street1": "9 WEST 57TH STREET", "city": "NEW YORK", "state": "NY", "zip": "10019"}, "former-company": [{"former-conformed-name": "CUC INTERNATIONAL INC /DE/", "date-changed": "19920703"}, {"former-conformed-name": "COMP U CARD INTERNATIONAL INC", "date-changed": "19870914"}]}
text: Cendant Corporation 8-K dated July 19, 2006
  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)
  July
        19, 2006 (July 18, 2006)
  Cendant
        Corporation
  (Exact
        name of Registrant as specified in its charter)
  Delaware
  (State
                  or other jurisdiction
  of
                  incorporation)
  1-10308
  (Commission
                  File No.)
  06-0918165
  (I.R.S.
                  Employer
  Identification
                  Number)
  9
                  West 57
  th
  Street
  New
                  York, NY
  (Address
                  of principal
  executive
                  office)
  10019
  (Zip
                  Code)
  Registrant's
        telephone number, including area code
  (212)
        413-1800
  None
  (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:
  [  ]
                  Written communications pursuant to Rule 425 under the Securities
                  Act (17
                  CFR 230.425)
  [  ]
                  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
                  (17 CFR
                  240.14a-12)
  [  ]
                  Pre-commencement communications pursuant to Rule 14d-2(b) under the
                  Exchange Act (17 CFR 240.14d-2(b))
  [  ]
                  Pre-commencement communications pursuant to Rule 13e-4(c) under the
                  Exchange Act (17 CFR 240.13e-4(c))
  Item
                  1.01
  Entry
                  into a Material Definitive
                  Agreement.
  On
        July 18, 2006, our Travelport Inc. ("Travelport") subsidiary entered into a
        new $2,200 million 364-day credit facility, consisting of a $400 million
        revolving credit facility and a $1,800 million term loan facility (the agreement
        pursuant to which such facility was entered into is referred to herein as the
        "Credit Agreement").
  The
        new
        facility includes affirmative covenants, including the maintenance of specific
        financial ratios. These financial covenants consist of a minimum interest
        coverage ratio of at least 3.0 times as of the measurement date and a maximum
        leverage ratio not to exceed 4.5 times on the measurement date. Negative
        covenants in the new credit facility include limitations on indebtedness of
        material subsidiaries; liens; mergers, consolidations, liquidations,
        dissolutions and sales of substantially all assets; and sale and leasebacks.
        Events of default in the new credit facility include nonpayment of principal
        when due; nonpayment of interest, fees or other amounts; violation of covenants;
        cross payment default and cross acceleration (in each case, to indebtedness
        (excluding securitization indebtedness) in excess of $50 million); and a change
        of control (the definition of which will permit a spin-off of
        Travelport).
  It
        is
        Cendant's intent to repay any outstanding borrowings under the credit facility
        in conjunction with the closing of the previously announced sale of Travelport.
  On
        July 18, 2006, Cendant entered into a guaranty of Travelport's obligations
        under the Credit Agreement (the "Credit Agreement Guaranty"); however, upon the
        repayment of amounts outstanding under the Credit Agreement as contemplated
        by
        the purchase agreement in connection with the proposed sale of Travelport,
        such
        Credit Agreement Guaranty and all obligations of Cendant thereunder shall
        unconditionally terminate.
  A
        copy of
        the Credit Agreement and the Credit Agreement Guaranty are attached hereto
        as
  Exhibits
        10.1
  and
  10.2
  ,
        respectively, and are incorporated by reference herein.
  Certain
        of the lenders party to the Credit Agreement and the Credit Agreement Guaranty
        and their respective affiliates, have performed, and may in the future perform,
        various commercial banking, investment banking and other financial advisory
        services for Cendant, Travelport and their subsidiaries for which they have
        received, and will receive, customary fees and expenses.
  Item
                  2.02
  Results
                  of Operations and Financial
                  Condition.
  On
        July
        19, 2006, we issued a press release which, among other things, disclosed that
        we
        expect to report our financial results of the Company's operations for the
        second quarter on August 9
  th
  ,
        as well
        as our expectations with respect to certain of such financial results. A copy
        of
        the press release issued on July 19, 2006 is attached hereto as
  Exhibit
        99.1
  and that
        portion of the press release relating to our expectations with respect to the
        second quarter 2006 is incorporated by reference into this item.
  Item
                  2.03
  Creation
                  of a Direct Financial Obligation or an Obligation under an Off-Balance
                  Sheet Arrangement of a Registrant.
  The
        information described above under "Item 1.01. Entry into a Material
        Definitive Agreement" is incorporated herein by reference.
  Item
                  7.01
  Regulation
                  FD Disclosure.
  On
        July
        19, 2006, we announced that "when issued" trading in the common stock of Realogy
        Corporation and Wyndham Worldwide Corporation is expected to begin on the New
        York Stock Exchange today. In addition, we updated our forecasts and reported
        certain information with respect to our financial results of operations for
        the
        second quarter 2006.
  A
        copy of
        the press release issued on July 19, 2006 is attached hereto as
  Exhibit
        99.1
  and is
        incorporated by reference herein.
  Information
        Relating to Avis Budget Car Rental, LLC
  Cendant
        intends to post in the "Investor Center" section of its website at
  www.cendant.com
  additional information related to Avis Budget Car Rental, LLC and its
        subsidiaries, the companies that make up Cendant's vehicle rental business.
        The
        information includes historical and pro forma financial information of Avis
        Budget Car Rental and its subsidiaries. The vehicle rental business will
        continue to be owned by Cendant following the completion of the separation
        of
        Cendant into four separate companies.
  Item
                  9.01
  Financial
                  Statements and Exhibits.
  (c)
  Exhibits
  10.1
  Credit
                  Agreement, dated as of July 18, 2006, among Travelport Inc., as
                  Borrower, Galileo International Technology, LLC, as a Subsidiary
                  Borrower,
                  certain financial institutions as lenders, JPMorgan Chase Bank, N.A.,
                  as
                  Administrative Agent, and Bank of America, N.A. and Citicorp North
                  America, Inc., as Syndication Agents.
  10.2
  Guaranty,
                  dated as of July 18, 2006, made by Cendant Corporation in favor of
                  JPMorgan Chase Bank, N.A., as Administrative Agent for the banks
                  and other
                  financial institutions or entities (the "
  Lenders
  ")
                  from time to time parties to the Credit Agreement, dated as of July
                  18,
                  2006 among Travelport Inc., as Borrower, Galileo International Technology,
                  LLC, as Subsidiary Borrower, the Subsidiary Borrowers from time to
                  time
                  parties to the Credit Agreement and Bank of America, N.A. and Citicorp
                  North America, Inc., as Syndication Agents.
  99.1
  Press
                  Release dated July 19, 2006.
  SIGNATURE
  Pursuant
        to the requirements of the Securities Exchange Act of 1934, as amended, the
        registrant has duly caused this report to be signed on its behalf by the
        undersigned hereunto duly authorized.
  CENDANT
                  CORPORATION
  By:
  /s/
                  Eric J. Bock
  Eric
                  J. Bock
  Executive
                  Vice President, Law
  and
                  Corporate Secretary
  Date:
        July 19, 2006
  CENDANT
        CORPORATION
  CURRENT
        REPORT ON FORM 8-K
  Report
        Dated
  July
        19, 2006 (July 18, 2006)
  EXHIBIT
        INDEX
  Exhibit
                  No.
  Description
  10.1
  Credit
                  Agreement, dated as of July 18, 2006, among Travelport Inc., as
                  Borrower, Galileo International Technology, LLC, as a Subsidiary
                  Borrower,
                  certain financial institutions as lenders, JPMorgan Chase Bank, N.A.,
                  as
                  Administrative Agent, and Bank of America, N.A. and Citicorp North
                  America, Inc., as Syndication Agents.
  10.2
  Guaranty,
                  dated as of July 18, 2006, made by Cendant Corporation in favor of
                  JPMorgan Chase Bank, N.A., as Administrative Agent for the banks
                  and other
                  financial institutions or entities (the "
  Lenders
  ")
                  from time to time parties to the Credit Agreement, dated as of July
                  18,
                  2006 among Travelport Inc., as Borrower, Galileo International Technology,
                  LLC, as Subsidiary Borrower, the Subsidiary Borrowers from time to
                  time
                  parties to the Credit Agreement and Bank of America, N.A. and Citicorp
                  North America, Inc., as Syndication Agents.
  99.1
  Press
                  Release dated July 19, 2006.