Avis 2010 Annual Report Download - page 459

26.2. Books, Records and Inspections
. (i) Maintain, or cause to be maintained, complete and accurate books and records with respect
to the Group I Trucks leased under this Agreement and (ii) permit any Person designated by the Lessor or the Trustee in writing to visit
and/or inspect any of the properties, limited liability company books and financial records of the Guarantor and its Subsidiaries and to
discuss its affairs, finances and accounts with officers of the Guarantor and its Subsidiaries, agents of the Guarantor and with the
Guarantor’s independent public accountants, all at such reasonable times and as often as the Lessor or the Trustee may reasonably request.
26.3. Insurance . Obtain and maintain with respect to all Group I Trucks that are subject to this Agreement (a) vehicle liability
insurance to the full extent required by law and in any event not less than $500,000 per Person and $1,000,000 per occurrence, (b) property
damage insurance with a limit of $1,000,000 per occurrence, and (c) excess coverage public liability insurance with a limit of not less than
$50,000,000 or the limit maintained from time to time by the Lessee at any time hereafter, whichever is greater, with respect to all trucks
and vans comprising the Lessee’s truck rental fleet. The Lessor acknowledges and agrees that the Lessee may, to the extent permitted by
applicable law, self-
insure for the first $1,000,000 per occurrence, or a greater amount up to a maximum of $3,000,000, with the consent of
the Requisite Investors, per occurrence, of vehicle liability and property damage which is otherwise required to be insured hereunder. All
such policies shall be from financially sound and reputable insurers, shall name the Lessor and the Trustee as additional insured parties, in
the case of catastrophic physical damage insurance on such Group I Trucks, shall name the Trustee as loss payee as its interest may appear
and will provide that the Lessor and the Trustee shall receive at least ten days’ prior written notice of cancellation of such policies. The
Lessee will notify promptly the Lessor and the Trustee of any curtailment or cancellation of the Lessee’s right to self-insure in any
jurisdiction.
26.4. Reporting Requirements . Furnish, or cause to be furnished to the Lessor and the Trustee:
(i) Annual Report . As soon as available and in any event within 100 days after the end of each fiscal year thereafter, beginning
with the fiscal year end of December 31, 2010, (A) the audited consolidated balance sheet of ABCR and its consolidated subsidiaries
as at the end of, and the related consolidated statements of income, shareholders’ equity and cash flows for such year, and the
corresponding figures as at the end of, and for, the preceding fiscal year, accompanied by an opinion of Deloitte & Touche LLP or
such other independent certified public accountants of recognized standing as shall be retained by ABCR, which report and opinion
shall be prepared in accordance with generally accepted auditing standards relating to reporting (the “ ABCR Financial Statements ”
),
and (B) unaudited combined financial statements consisting of a statement of financial position of BTR and its subsidiaries as of the
end of such fiscal year and a statement of operations, members’ equity and cash flows of BTR and its subsidiaries for such fiscal
year, certified by a senior financial officer of BTR as having been prepared in accordance with GAAP (except as otherwise noted
therein).
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