On October 11, 2011, Rental Car Finance Corp. (“RCFC”), an Oklahoma corporation and wholly owned subsidiary of Dollar Thrifty Automotive Group, Inc. (“DTG”), a Delaware corporation, terminated RCFC’s Rental Car Asset Backed Variable Funding Notes, Series 2010-1 (the “Notes”) held by Deutsche Bank AG, New York Branch, as managing agent pursuant to a Master Termination Agreement, dated as of October 11, 2011, among RCFC, as issuer, lessor, financing source and beneficiary, DTG, as master servicer and guarantor, DTG Operations, Inc., as lessee, servicer and lessee grantor, Deutsche Bank Trust Company Americas, as trustee, financing source, beneficiary and master collateral agent, Saratoga Funding Corp., LLC, as conduit purchaser, and Deutsche Bank AG, New York Branch, as committed purchaser, managing agent and administrative agent. The termination of the Notes was effected in conjunction with DTG’s ongoing rationalization of its overall capitalization structure in light of market conditions and DTG’s anticipated funding requirements. The Notes were originally issued pursuant to the Series 2010-1 Supplement, dated as of April 8, 2010, between RCFC and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”), to the Amended and Restated Base Indenture, dated as of February 14, 2007, between RCFC and the Trustee, in an aggregate principal amount of $200 million. RCFC paid a $0.5 million termination fee in connection with the termination of the Notes, in lieu of fees that would otherwise have been payable pursuant to the related note purchase agreement in respect of an early termination of the Notes.
Deutsche Bank AG, New York Branch, Deutsche Bank Trust Company Americas and/or their respective affiliates are also participants in, or parties to, other credit facilities and/or variable funding note programs and related agreements with DTG and its subsidiaries, including RCFC.
The foregoing description of the termination of Notes is qualified in its entirety by reference to the document attached hereto as Exhibit 4.244, which is incorporated herein by reference.
