Document ID: 15679

Text:
1.Use of Proceeds. The proceeds of the Loan made by the Lender on the date hereof will be deemed applied as consideration for the entry into that certain letter agreement, dated as of January 12, 2017 , between American Realty Capital Hospitality Portfolio SMT ALT, LLC, Summit Hotel OP, LP and each of the Sellers identified therein (the Summit II PSA Amendment, amending that certain Real Estate Purchase and Sale Agreement, dated as of June 2, 2015, by and among American Realty Capital Hospitality Portfolio SMT, LLC , as Original Purchaser, the Sellers party thereto and Summit Hotel OP, LP , in its capacity as Seller Representative for the Sellers (as amended, supplemented or otherwise modified, the Summit II Purchase Agreement)).

Named Entities:
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EffectiveDate
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Parties
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Parties
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Title
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Parties
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Title

Tokenized Text:
1
.
Use
of
Proceeds
.
The
proceeds
of
the
Loan
made
by
the
Lender
on
the
date
hereof
will
be
deemed
applied
as
consideration
for
the
entry
into
that
certain
letter
agreement
,
dated
as
of
January
12
,
2017
,
between
American
Realty
Capital
Hospitality
Portfolio
SMT
ALT
,
LLC
,
Summit
Hotel
OP
,
LP
and
each
of
the
Sellers
identified
therein
(
the
Summit
II
PSA
Amendment
,
amending
that
certain
Real
Estate
Purchase
and
Sale
Agreement
,
dated
as
of
June
2
,
2015
,
by
and
among
American
Realty
Capital
Hospitality
Portfolio
SMT
,
LLC
,
as
Original
Purchaser
,
the
Sellers
party
thereto
and
Summit
Hotel
OP
,
LP
,
in
its
capacity
as
Seller
Representative
for
the
Sellers
(
as
amended
,
supplemented
or
otherwise
modified
,
the
Summit
II
Purchase
Agreement
)
)
.