Item 1.01 Entry into a Material Definitive Agreement.
European ABS Amendments
OnDecember 20, 2022 , affiliates ofThe Hertz Corporation ("Hertz") entered into amendments (effectiveDecember 21, 2022 ) to the securitization platform for financing activities relating to such affiliates' vehicle fleets inFrance ,the Netherlands ,Germany andSpain (the "European ABS") to (i) addHertz's Italian vehicle fleet to the securitization platform, (ii) increase the aggregate maximum borrowings thereunder from €750 million to €1.1 billion and (iii) extend the maturity fromOctober 2023 toNovember 2024 (the "Amendments"). Pursuant to the European ABS, International Fleet Financing No. 2 B.V. (the "IFF No. 2"), an indirect, special purpose subsidiary ofHertz , is party to an issuer facility agreement originally datedSeptember 25, 2018 between, among others, IFF No. 2,Hertz Europe Limited (as Administrator),BNPP Paribas Trust Corporation UK Limited (as Security Trustee), andCredit Agricole Corporate and Investment Bank (as Administrative Agent) (the "Issuer Facility Agreement"), which includes defined terms as set forth in a Master Definitions and Constructions Agreement (the "MDCA"). IFF No. 2's proceeds from the Issuer Facility Agreement are made available on a revolving basis to certain special purpose fleet subsidiaries ofHertz (the "Fleet Companies") for their purchases of rental vehicles, and those vehicle fleets serve as the underlying collateral for the Issuer Facility Agreement. Certain ofHertz's international operating subsidiaries lease the vehicles from the Fleet Companies for rental to customers.Hertz has guaranteed certain obligations of the international operating subsidiaries to the Fleet Companies pursuant to a Performance Guarantee and Indemnity Deed datedDecember 21, 2021 (the "Guarantee"). In connection with the Amendments, each of the Issuer Facility Agreement, the MDCA and the Guarantee was amended effective as ofDecember 21, 2022 . The foregoing descriptions of the amendments to the Issuer Facility Agreement, the MDCA and the Guarantee are qualified in their entirety by reference to Exhibits 10.1, 10.2 and 10.3, respectively, to this Current Report on Form 8-K and incorporated by herein by reference. --------------------------------------------------------------------------------
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Description 10.1 Amended and Restated Issuer Facility Agreement as
amended and restated on
December 20, 2022 , by and among International Fleet
Financing No. 2 B.V.,
Europe Limited , Credit Agricole Corporate and
note purchasers, conduit investors and funding agents
named therein, and BNP
Paribas Trust Corporation U.K. Limited . 10.2 Amended and Restated Master Definitions and
Constructions Agreement as amended
and restated onDecember 20, 2022 , by and among
International Fleet Financing
No. 2 B.V.,Hertz Automobielen Nederland B.V .,
Stuurgroep Fleet (
B.V., Hertz France S.A.S., RAC Finance S.A.S.,Hertz
De Espana SLU,
Autovermietung GMBH,Hertz Fleet Limited ,
Paribas, Italian Branch, BNP Paribas S.A.,Hertz
Italiana S.R.L., IFM SPV
S.R.L., Hertz Fleet Italiana S.R.L., Credit Agricole
Corporate and Investment
Bank,Hertz Europe Limited ,The Hertz Corporation , BNP
Paribas, Luxembourg
Branch,TMF SFS Management BV , TMF France Management
SARL,
Advisory SAS,BNP Paribas Trust Corporation UK
Limited, BNP Paribas S.A.,
Branch, BNP Paribas S.A.,Netherlands Branch, Banca
Nazionale Del Lavoro S.P.A.,
Sanne Trustee Services Limited , certain committed note
purchasers, conduit
investors and funding agents named therein,Hertz
Holdings
andHertz International Limited . 10.3 Amended and Restated Performance Guarantee and
Indemnity Deed, dated as of
December 20, 2022 , by and amongThe Hertz Corporation ,
Stuurgroep Fleet
(Netherlands ) B.V., RAC Finance S.A.S., Hertz Fleet
Limited, Stuurgroep Fleet
(Netherlands ) B.V., Sucursal en Espana, and BNP
Paribas Trust Corporation
Limited. 104.1 Cover page Interactive Data File (embedded within the Inline XBRL document)
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