Avis 2006 Annual Report Download - page 281

30.1. Organization; Ownership; Power; Qualification .
The Finance Lease Guarantor and each of the Lessees is (i) a corporation duly organized, validly existing and in good standing
under the laws of the jurisdiction of its incorporation, (ii) has the corporate power and authority to own its properties and to carry on its
business as now being and hereafter proposed to be conducted, and (iii) is duly qualified, in good standing and authorized to do business in
each jurisdiction in which the character of its properties or the nature of its businesses requires such qualification or authorization.
30.2. Authorization; Enforceability .
The Finance Lease Guarantor and each of the Lessees has the corporate power and has taken all necessary corporate action to
authorize it to execute, deliver and perform this Agreement and each of the other Related Documents to which it is a party in accordance with
their respective terms, and to consummate the transactions contemplated hereby and thereby. This Agreement has been duly executed and
delivered by the Finance Lease Guarantor and each of the Lessees and is, and each of the other Related Documents to which the Finance Lease
Guarantor or any Lessee is a party is, a legal, valid and binding obligation of the Finance Lease Guarantor and such Lessee, as applicable,
enforceable in accordance with its terms.
30.3. Compliance .
The execution, delivery and performance, in accordance with their respective terms, by the Finance Lease Guarantor and each of the
Lessees of this Agreement and each of the other Related Documents to which it is a party, and the consummation of the transactions
contemplated hereby and thereby, do not and will not (i) require any consent, approval, authorization or registration not already obtained or
effected, (ii) violate any applicable law with respect to the Finance Lease Guarantor or each such Lessee which violation could result in a
Material Adverse Effect, (iii) conflict with, result in a breach of, or constitute a default under the certificate or articles of incorporation or by-
laws, as amended, of the Finance Lease Guarantor or each such Lessee, (iv) conflict with, result in a breach of, or constitute a default under any
indenture, agreement, or other instrument to which the Finance Lease Guarantor or each such Lessee is a party or by which its properties may
be bound which conflict, breach or default could result in a Material Adverse Effect, or (v) result in or require the creation or imposition of any
Lien upon or with respect to any property now owned or hereafter acquired by the Finance Lease Guarantor or each such Lessee except
Permitted Liens.
30.4. Financial Information; Financial Condition .
All balance sheets, all statements of operations, of shareholders’ equity and of cash flow, and other financial data (other than
projections) which have been or shall hereafter be furnished to the Lessor, the Lender or the Trustee for the purposes of or in connection with
this Agreement or the Related Documents have been and will be prepared in accordance with GAAP applied on a consistent basis and do and
will present fairly the financial condition of the entities involved as of the dates thereof and the results of their operations for the periods
covered thereby. Such financial data include the following financial statements and reports which have been furnished to the Lessor and the
Trustee on or prior to the date hereof:
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