Avis 2007 Annual Report Download - page 100

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Table of Contents
The following table provides the contractual maturities of the Company’s debt under vehicle programs (including related party debt due to
Avis Budget Rental Car Funding) at December 31, 2007:
COMMITTED CREDIT FACILITIES AND AVAILABLE FUNDING ARRANGEMENTS
As of December 31, 2007, available funding under the Company’s vehicle programs (including related party debt due to Avis Budget
Rental Car Funding) consisted of:
Vehicle
-
Backed
Debt
Capital
Leases
Total
2008
$
1,562
$
164
$
1,726
2009
434
40
474
2010
1,240
-
1,240
2011
827
-
827
2012
1,150
-
1,150
Thereafter
179
-
179
$
5,392
$
204
$
5,596
Total
Capacity
(a)
Outstanding
Borrowings
Available
Capacity
Debt due to Avis Budget Rental Car Funding
$
6,621
$
4,646
$
1,975
Budget Truck financing:
Budget Truck Funding program
400
246
154
Capital leases
204
204
—
Other
1,227
500
727
$
8,452
$
5,596
$
2,856
DEBT COVENANTS
Debt agreements under the Company’s vehicle-backed funding programs contain restrictive covenants, including restrictions on dividends
paid to the Company by certain of its subsidiaries and indebtedness of material subsidiaries, mergers, liens, liquidations and sale and
leaseback transactions and also require the maintenance of certain financial ratios. As of December 31, 2007 the Company is not aware of
any instances of non-compliance with such financial or restrictive covenants.
F
-
37
(a)
Capacity is subject to maintaining sufficient assets to collateralize debt.