Common use of Audit Report Clause in Contracts

Audit Report. As soon as available and in any event within 120 days after the end of each fiscal year of the Guarantor, (a) consolidated financial statements consisting of a statement of financial position of the Guarantor and its Consolidated Subsidiaries as of the end of such fiscal year and a statement of operations, stockholders' equity and cash flows of the Guarantor and its Consolidated Subsidiaries for such fiscal year, setting forth in comparative form the corresponding figures for the preceding fiscal year, certified by and containing an opinion, unqualified as to scope, of independent certified public accountants of recognized standing selected by the Guarantor and acceptable to the Lessor, the Lender and the Trustee, accompanied by (b) a letter from such accountants addressed to the Lessor, the Lender and the Trustee stating that, in the course of their annual audit of the books and records of the Guarantor, no Potential AESOP I Operating Lease Event of Default or AESOP I Operating Lease Event of Default has come to their attention which was continuing at the close of such fiscal year or on the date of their letter, or, if such an event has come to the attention of such accountants and was continuing at the close of such fiscal year or on the date of their letter, the nature of such event, it being understood that such accountants shall have no liability to the Lessor or the Trustee by reason of the failure of such accountants to obtain knowledge of the occurrence or continuance of such an AESOP I Operating Lease Event of Default or Potential AESOP I Operating Lease Event of Default;

Audit Report. As soon as available and in any event within 120 days after the end of each fiscal year of the Guarantor, (a) consolidated financial statements consisting of a statement of financial position of the Guarantor and its Consolidated Subsidiaries as of the end of such fiscal year and a statement of operations, stockholders' equity and cash flows of the Guarantor and its Consolidated Subsidiaries for such fiscal year, setting forth in comparative form the corresponding figures for the preceding fiscal year, certified by and containing an opinion, unqualified as to scope, of independent certified public accountants of recognized standing selected by the Guarantor and acceptable to the Lessor, the Lender and the Trustee, accompanied by (b) a letter from such accountants addressed to the LessorLessor , the Lender and the Trustee stating that, in the course of their annual audit of the books and records of the Guarantor, no Potential AESOP I II Operating Lease Event of Default or AESOP I II Operating Lease Event of Default has come to their attention which was continuing at the close of such fiscal year or on the date of their letter, or, if such an event has come to the attention of such accountants and was continuing at the close of such fiscal year or on the date of their letter, the nature of such event, it being understood that such accountants shall have no liability to the Lessor Lessor, the Lender or the Trustee by reason of the failure of such accountants to obtain knowledge of the occurrence or continuance of such an AESOP I II Operating Lease Event of Default or Potential AESOP I II Operating Lease Event of Default;

Audit Report. As soon as available and in any event within 120 days after the end of each fiscal year of the Guarantor, (a) consolidated financial statements consisting of a statement of financial position of the Guarantor and its Consolidated Subsidiaries as of the end of such fiscal year and a statement of operations, stockholders' equity and cash flows of the Guarantor and its Consolidated Subsidiaries for such fiscal year, setting forth in comparative form the corresponding figures for the preceding fiscal year, certified by and containing an opinion, unqualified as to scope, of independent certified public accountants of recognized standing selected by the Guarantor and acceptable to the Lessor, the Lender and the Trustee, accompanied by (b) a letter from such accountants addressed to the Lessor, the Lender and the Trustee stating that, in the course of their annual audit of the books and records of the Guarantor, no Potential AESOP I Operating Finance Lease Event of Default or AESOP I Operating Finance Lease Event of Default has come to their attention which was continuing at the close of such fiscal year or on the date of their letter, or, if such an event has come to the attention of such accountants and was continuing at the close of such fiscal year or on the date of their letter, the nature of such event, it being understood that such accountants shall have no liability to the Lessor Lessor, the Lender or the Trustee by reason of the failure of such accountants to obtain knowledge of the occurrence or continuance of such an AESOP I Operating Finance Lease Event of Default or Potential AESOP I Operating Finance Lease Event of Default;

Audit Report. As soon as available Promptly when available, and in any event within 120 not later than the earlier of (a) five Business Days after the filing thereof with the SEC and (b) 105 days after the end of each Fiscal Year (commencing with the fiscal year ending December 29, 2007), a copy of the Guarantorannual audit report of the Company and its Subsidiaries for such Fiscal Year accompanied by (i) the report of Deloitte & Touche LLP or another nationally-recognized independent registered public accounting firm (the “Independent Auditor”), which report shall (aA) state that such consolidated financial statements consisting present fairly the financial position for the periods indicated in conformity with GAAP, and (B) not be qualified or limited because of a statement restricted or limited examination by the Independent Auditor of financial position any material portion of the Guarantor and its Consolidated Subsidiaries as Company’s or any Subsidiary’s records; provided that if such report of the end of such fiscal year and Independent Auditor is a statement of operationscombined report (that is, stockholders' equity and cash flows of the Guarantor and its Consolidated Subsidiaries for such fiscal year, setting forth in comparative form the corresponding figures for the preceding fiscal year, certified by and one report containing an opinionopinion on such consolidated financial statements, unqualified as an opinion on internal controls over financial reporting and an opinion on management’s assessment of internal controls over financial reporting), then such report may include a qualification or limitation relating to scope, the Company’s system of independent certified public accountants internal controls over financial reporting due to the exclusion of recognized standing selected any acquired business from the scope of management’s assessment of internal controls over financial reporting to the extent such exclusion is permitted under provisions published by the Guarantor and acceptable to the LessorPublic Company Accounting Oversight Board, the Lender SEC or another applicable governmental authority; and the Trustee, accompanied by (bii) a letter written statement from such accountants addressed to the Lessor, effect that in making the Lender and examination necessary for the Trustee stating that, in the course signing of their such annual audit report by such accountants, they have not become aware of the books and records of the Guarantor, no Potential AESOP I Operating Lease any Event of Default or AESOP I Operating Lease Unmatured Event of Default that has come to their attention which was occurred and is continuing at the close of such fiscal year or on the date of their letter, or, if such an event has come to the attention they have become aware of such accountants and was continuing at the close of such fiscal year or on the date of their letter, the nature of any such event, describing it being understood that such accountants shall have no liability to the Lessor or the Trustee by reason of the failure of such accountants to obtain knowledge of the occurrence or continuance of such an AESOP I Operating Lease Event of Default or Potential AESOP I Operating Lease Event of Default;in reasonable detail.

Audit Report. As soon as available Promptly when available, and in any event within 120 not later than the earlier of (a) five Business Days after the filing thereof with the SEC and (b) 105 days after the end of each Fiscal Year (commencing with the fiscal year ending December 29, 2008), a copy of the Guarantorannual audit report of the Company and its Subsidiaries for such Fiscal Year accompanied by (i) the report of Deloitte & Touche LLP or another nationally-recognized independent registered public accounting firm (the “Independent Auditor”), which report shall (aA) state that such consolidated financial statements consisting present fairly the financial position for the periods indicated in conformity with GAAP, and (B) not be qualified or limited because of a statement restricted or limited examination by the Independent Auditor of financial position any material portion of the Guarantor and its Consolidated Subsidiaries as Company’s or any Subsidiary’s records; provided that if such report of the end of such fiscal year and Independent Auditor is a statement of operationscombined report (that is, stockholders' equity and cash flows of the Guarantor and its Consolidated Subsidiaries for such fiscal year, setting forth in comparative form the corresponding figures for the preceding fiscal year, certified by and one report containing an opinionopinion on such consolidated financial statements, unqualified as an opinion on internal controls over financial reporting and an opinion on management’s assessment of internal controls over financial reporting), then such report may include a qualification or limitation relating to scope, the Company’s system of independent certified public accountants internal controls over financial reporting due to the exclusion of recognized standing selected any acquired business from the scope of management’s assessment of internal controls over financial reporting to the extent such exclusion is permitted under provisions published by the Guarantor and acceptable to the LessorPublic Company Accounting Oversight Board, the Lender SEC or another applicable governmental authority; and the Trustee, accompanied by (bii) a letter written statement from such accountants addressed to the Lessor, effect that in making the Lender and examination necessary for the Trustee stating that, in the course signing of their such annual audit report by such accountants, they have not become aware of the books and records of the Guarantor, no Potential AESOP I Operating Lease any Event of Default or AESOP I Operating Lease Unmatured Event of Default that has come to their attention which was occurred and is continuing at the close of such fiscal year or on the date of their letter, or, if such an event has come to the attention they have become aware of such accountants and was continuing at the close of such fiscal year or on the date of their letter, the nature of any such event, describing it being understood that such accountants shall have no liability to the Lessor or the Trustee by reason of the failure of such accountants to obtain knowledge of the occurrence or continuance of such an AESOP I Operating Lease Event of Default or Potential AESOP I Operating Lease Event of Default;in reasonable detail.

Audit Report. As soon as available and in any event within 120 one hundred twenty (120) days after the end of each fiscal year of the GuarantorAvis Budget Group, Inc. (“ABG”), (a) consolidated financial statements consisting of a statement of financial position of the Guarantor ABG and its Consolidated Subsidiaries as of the end of such fiscal year and a statement of operations, stockholders' equityholders’ equity and cash flows of the Guarantor ABG and its Consolidated Subsidiaries for such fiscal year, setting forth in comparative form the corresponding figures for the preceding fiscal year, certified by and containing an opinion, unqualified as to scope, of independent certified public accountants of recognized standing selected by the Guarantor ABG and acceptable to the Lessor, the Lender Lessor and the Trustee, accompanied by (b) a letter from such accountants addressed to the Lessor, the Lender Lessor and the Trustee stating that, in the course of their annual audit of the books and records of the GuarantorABG, no Potential AESOP I Operating Lease Event of Default or AESOP I Operating Lease Event of Default has come to their attention which was continuing at the close of such fiscal year or on the date of their letter, or, if such an event has come to the attention of such accountants and was continuing at the close of such fiscal year or on the date of their letter, the nature of such event, it being understood that such accountants shall have no liability to the Lessor or the Trustee by reason of the failure of such accountants to obtain knowledge of the occurrence or continuance of such an AESOP I Operating Lease Event of Default or Potential AESOP I Operating Lease Event of Default;.

Audit Report. As soon as available and in any event within 120 one hundred twenty (120) days after the end of each fiscal year of the Finance Lease Guarantor, (a) consolidated financial statements consisting of a statement of financial position of the Finance Lease Guarantor and its Consolidated Subsidiaries as of the end of such fiscal year and a statement of operations, stockholders' ’ equity and cash flows of the Finance Lease Guarantor and its Consolidated Subsidiaries for such fiscal year, setting forth in comparative form the corresponding figures for the preceding fiscal year, certified by and containing an opinion, unqualified as to scope, of independent certified public accountants of recognized standing selected by the Finance Lease Guarantor and -45- acceptable to the Lessor, the Lender and the Trustee, accompanied by (b) a letter from such accountants addressed to the Lessor, the Lender and the Trustee stating that, in the course of their annual audit of the books and records of the Finance Lease Guarantor, no Potential AESOP I Operating Finance Lease Event of Default or AESOP I Operating Finance Lease Event of Default has come to their attention which was continuing at the close of such fiscal year or on the date of their letter, or, if such an event has come to the attention of such accountants and was continuing at the close of such fiscal year or on the date of their letter, the nature of such event, it being understood that such accountants shall have no liability to the Lessor Lessor, the Lender or the Trustee by reason of the failure of such accountants to obtain knowledge of the occurrence or continuance of such an AESOP I Operating a Finance Lease Event of Default or Potential AESOP I Operating Finance Lease Event of Default;

Audit Report. As soon as available and in any event within 120 one hundred twenty (120) days after the end of each fiscal year of the GuarantorLessee, (a) consolidated financial statements consisting of a statement of financial position of the Guarantor Lessee and its Consolidated Subsidiaries as of the end of such fiscal year and a statement of operations, stockholders' ’ equity and cash flows of the Guarantor Lessee and its Consolidated Subsidiaries for such fiscal year, setting forth in comparative form the corresponding figures for the preceding fiscal year, certified by and containing an opinion, unqualified as to scope, of independent certified public accountants of recognized standing selected by the Guarantor Lessee and acceptable to the Lessor, the Lender and the Trustee, accompanied by (b) a letter from such accountants addressed to the Lessor, the Lender and the Trustee stating that, in the course of their annual audit of the books and records of the GuarantorLessee, no Potential AESOP I Operating Lease Event of Default or AESOP I Operating Lease Event of Default has come to their attention which was continuing at the close of such fiscal year or on the date of their letter, or, if such an event has come to the attention of such accountants and was continuing at the close of such fiscal year or on the date of their letter, the nature of such event, it being understood that such accountants shall have no liability to the Lessor or the Trustee by reason of the failure of such accountants to obtain knowledge of the occurrence or continuance of such an AESOP I Operating Lease Event of Default or Potential AESOP I Operating Lease Event of Default;

Audit Report. As soon as available and in any event within 120 one hundred twenty (120) days after the end of each fiscal year of the Finance Lease Guarantor, (a) consolidated financial statements consisting of a statement of financial position of the Finance Lease Guarantor and its Consolidated Subsidiaries as of the end of such fiscal year and a statement of operations, stockholders' ’ equity and cash flows of the Finance Lease Guarantor and its Consolidated Subsidiaries for such fiscal year, setting forth in comparative form the corresponding figures for the preceding fiscal year, certified by and containing an opinion, unqualified as to scope, of independent certified public accountants of recognized standing selected by the Finance Lease Guarantor and acceptable to the Lessor, the Lender and the Trustee, accompanied by (b) a letter from such accountants addressed to the Lessor, the Lender and the Trustee stating that, in the course of their annual audit of the books and records of the Finance Lease Guarantor, no Potential AESOP I Operating Finance Lease Event of Default or AESOP I Operating Finance Lease Event of Default has come to their attention which was continuing at the close of such fiscal year or on the date of their letter, or, if such an event has come to the attention of such accountants and was continuing at the close of such fiscal year or on the date of their letter, the nature of such event, it being understood that such accountants shall have no liability to the Lessor Lessor, the Lender or the Trustee by reason of the failure of such accountants to obtain knowledge of the occurrence or continuance of such an AESOP I Operating a Finance Lease Event of Default or Potential AESOP I Operating Finance Lease Event of Default;