Document ID: 15681

Text:
(a)from the date of the Loan to February 11, 2017, thirteen percent ( 13.0% ) per annum (the Basic Interest Rate) until the principal amount has been paid in full (or such earlier date upon which the entire principal amount of the Loan has been paid in full or deemed paid in full under Section 2), of which (i) a portion of the Basic Interest Rate equal to nine percent ( 9.0% ) per annum shall be paid in cash on the last day of each calendar month commencing with January 31, 2017 (each such date, an Interest Payment Date) and (ii) the remaining portion of the Basic Interest Rate equal to four percent ( 4.0% ) per annum, compounded monthly on each Interest Payment Date during such period, together with any incremental amount of accrued interest to the extent interest accrues at the Default Interest Rate, shall be paid in kind and added to the principal amount of the Loan then outstanding on the Maturity Date, unless otherwise paid in cash on or prior to such date; provided that such amount described in Section 3(a)(ii) shall not be added to the principal amount of the Loan, but instead shall be payable in cash on the earlier of (x) the Summit II PSA Closing Date and (y) the termination of the Summit II Purchase Agreement as the result of a breach of the Summit II Purchase Agreement by American Realty Capital Hospitality Portfolio SMT ALT, LLC or its successor or permitted assignee; and

Named Entities:
18
21
Percentage
86
89
Percentage
108
111
TerminationDate
139
142
Percentage
264
267
Title

Tokenized Text:
(
a
)
from
the
date
of
the
Loan
to
February
11
,
2017
,
thirteen
percent
(
13
.
0
%
)
per
annum
(
the
Basic
Interest
Rate
)
until
the
principal
amount
has
been
paid
in
full
(
or
such
earlier
date
upon
which
the
entire
principal
amount
of
the
Loan
has
been
paid
in
full
or
deemed
paid
in
full
under
Section
2
)
,
of
which
(
i
)
a
portion
of
the
Basic
Interest
Rate
equal
to
nine
percent
(
9
.
0
%
)
per
annum
shall
be
paid
in
cash
on
the
last
day
of
each
calendar
month
commencing
with
January
31
,
2017
(
each
such
date
,
an
Interest
Payment
Date
)
and
(
ii
)
the
remaining
portion
of
the
Basic
Interest
Rate
equal
to
four
percent
(
4
.
0
%
)
per
annum
,
compounded
monthly
on
each
Interest
Payment
Date
during
such
period
,
together
with
any
incremental
amount
of
accrued
interest
to
the
extent
interest
accrues
at
the
Default
Interest
Rate
,
shall
be
paid
in
kind
and
added
to
the
principal
amount
of
the
Loan
then
outstanding
on
the
Maturity
Date
,
unless
otherwise
paid
in
cash
on
or
prior
to
such
date
;
provided
that
such
amount
described
in
Section
3
(
a
)
(
ii
)
shall
not
be
added
to
the
principal
amount
of
the
Loan
,
but
instead
shall
be
payable
in
cash
on
the
earlier
of
(
x
)
the
Summit
II
PSA
Closing
Date
and
(
y
)
the
termination
of
the
Summit
II
Purchase
Agreement
as
the
result
of
a
breach
of
the
Summit
II
Purchase
Agreement
by
American
Realty
Capital
Hospitality
Portfolio
SMT
ALT
,
LLC
or
its
successor
or
permitted
assignee
;
and