Exhibit 10.34



 Exhibit 10.34 
 TOTAL COMMITMENTS INCREASE AGREEMENT 
 This Total Commitments Increase Agreement (the “Agreement”) is dated as of January 14, 2008, and is entered into by and among BRANCH BANKING
AND TRUST COMPANY (“BB&T”), BMO Capital Markets Financing, Inc. (“BMO Capital Markets”), BANK OF MONTREAL,
CHICAGO BRANCH (“BMO”), THE ROYAL BANK OF SCOTLAND PLC (“RBS”), WACHOVIA
BANK, NA (“Wachovia”), Raymond James Bank, FSB (“Raymond James”), U.S. BANK NATIONAL ASSOCIATION (“U.S. BANK”) and
NATIONAL CITY BANK (“National City” and, collectively with RBS, Wachovia, Raymond James and U.S. Bank, the “Increasing Banks”) and BANK OF
MONTREAL, CHICAGO BRANCH, as Administrative Agent. Capitalized terms used but not defined in this Agreement shall have the meanings given to them in the Credit Agreement identified below, receipt of a
copy of which is hereby acknowledged by the New Banks. The Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Agreement as if set forth herein in full.

 RECITALS: 
 WHEREAS, LaSalle Hotel Operating Partnership, L.P. (the “Borrower”), the Banks party thereto, Bank of Montreal, Chicago Branch, as Administrative Agent and Bank of America,
N.A., as Syndication Agent, are parties to that certain Amended and Restated Senior Unsecured Credit Agreement dated as of June 9, 2005 (as the same has previously been amended by the First Amendment to Amended and Restated Senior Unsecured
Credit Agreement by and among the Borrower, the Banks party thereto and the Administrative Agent dated as of May 23, 2006, and by the Second Amendment to Amended and Restated Senior Unsecured Credit Agreement by and among the Borrower, the
Banks party thereto and the Administrative Agent dated as of April 13, 2007, and as it may further be amended, restated or otherwise modified, the “Credit Agreement”); 

WHEREAS, pursuant to Section 1.06 of the Credit Agreement, the Borrower has the option to request an increase of the
Total Commitments, which are currently $300,000,000, to an amount not to exceed $450,000,000; and 
 WHEREAS, the
Borrower desires to increase the Total Commitments by $150,000,000 (resulting in Total Commitments of $450,000,000), and the New Banks and the Increasing Banks desire to extend new commitments and increased commitments, respectively, to the Borrower
in an aggregate amount equal to such increased amount pursuant to the terms and conditions set forth herein; 

NOW, THEREFORE, for good and valuable consideration, the receipt of which are hereby acknowledged, the
parties hereto agree and acknowledge as follows: 
 Subject to and in accordance with the Terms and Conditions set forth on
Annex 1 hereto and the Credit Agreement, in respect of the interest in and to all of the rights and obligations of a Bank under the Credit Agreement and all other Credit Documents (including without limitation any rights and obligations in respect
of Letters of Credit and Guaranties and, to the extent permitted to be assumed under applicable law, all claims (including without limitation contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in
equity), suits, causes of action and any other right of a Bank against any Person whether known or unknown arising under or in connection with the Credit Agreement, any other Credit Document), (i) BB&T and BMO Capital Markets hereby become
Banks under the Credit Agreement and each extends its respective Commitment (the “New Commitments”) and (ii) each Increasing Bank increases its respective Commitment (the “Increased Commitments”). 

1. The amounts of the New Commitment, Increased Commitments and Total Commitments are as follows: 

 

	 	1.1	New Commitment of BB&T: $30,000,000.00 

 New Commitment of BMO Capital Markets (comprised of a new Commitment amount of $25,000,000 plus the Commitment of $40,000,000 assigned by BMO and assumed by BMO Capital Markets pursuant to Section 2
of this Agreement): $65,000,000.00 








	 	1.2	Increased Commitments: 

 (a) Commitment of RBS (comprised of an original Commitment amount of $40,000,000 plus an additional Commitment amount of $25,000,000): $65,000,000.00 

(b) Commitment of Wachovia (comprised of an original Commitment amount of $40,000,000 plus an additional Commitment amount
of $25,000,000): $65,000,000.00 
 (c) Commitment of Raymond James (comprised of an original Commitment amount of
$30,000,000 plus an additional Commitment amount of $25,000,000): $55,000,000.00 
 (d) Commitment of National
City (comprised of an original Commitment amount of $15,000,000 plus an additional Commitment amount of $10,000,000): $25,000,000.00 
 (e) Commitment of U.S. Bank (comprised of an original Commitment amount of $15,000,000 plus an additional Commitment amount of $10,000,000): $25,000,000.00 

 

	 	1.3.	Total Commitments: $450,000,000.00 

 2. In connection with this Agreement, BMO (“Assignor”) wishes to assign and delegate 100% of its rights and obligations as a Bank (but not its rights and obligations as the Administrative
Agent) under the Credit Agreement and BMO Capital Markets (“Assignee”) desires to assume and accept such rights and obligations. Therefore, Assignor, Assignee, and the Administrative Agent agree as follows: 

2.1. The Assignor hereby sells and assigns and delegates to the Assignee, and the Assignee hereby purchases and assumes
from the Assignor a 100% interest in and to all of the Assignor’s rights and obligations as a Bank under the Credit Agreement in connection with its Commitment, including, without limitation, such percentage interest in the Assignor’s
Commitment and the Advances owing to the Assignor, the participation interest in the Letter of Credit Obligations held by the Assignor, and the Note held by the Assignor. 

  
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 2.2. The Assignor shall, to the extent provided in this Agreement,
relinquish its rights as a Bank (other than rights against the Borrower pursuant to Sections 2.09, 2.11(c) and 10.07 of the Credit Agreement, which shall survive this assignment) and be released from its obligations as a Bank under the Credit
Agreement (other than the obligations of BMO pursuant to Section 10.20, which shall survive this assignment). 

[Signatures begin on following page] 

  
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 The terms set forth in this Agreement are hereby agreed to: 

 

			
	“NEW BANKS”
	
	BRANCH BANKING AND TRUST COMPANY
		
	By:	 	 /s/ Carolyne E. Pelton

	Name:	 	Carolyne E. Pelton
	Title:	 	Senior Vice President
	
	 BMO CAPITAL MARKETS FINANCING, INC., as a
New Bank and
as Assignee

		
	By:	 	 /s/ Virginia Neale

	Name:	 	Virginia Neale
	Title:	 	Vice President
	
	“INCREASING BANKS”
	
	THE ROYAL BANK OF SCOTLAND PLC
		
	By:	 	 /s/ William McGinty

	Name:	 	William McGinty
	Title:	 	Senior Vice President
	
	WACHOVIA BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Matthew Ricketts

	Name:	 	Matthew Ricketts
	Title:	 	Vice President
	
	RAYMOND JAMES BANK, FSB
		
	By:	 	 /s/ Thomas G. Scott

	Name:	 	Thomas G. Scott
	Title:	 	Senior Vice President



  
 [Signature
Page to Total Commitments Increase Agreement] 









			
	NATIONAL CITY BANK
		
	By:	 	 /s/ Peter L. Westover

	Name:	 	Peter L. Westover
	Title:	 	Vice President
	
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ Lori Y. Jensen

	Name:	 	Lori Y. Jensen
	Title:	 	Vice President
	
	“ADMINISTRATIVE AGENT”
	
	 BANK OF MONTREAL, CHICAGO BRANCH,
as
Assignor and as Administrative Agent

		
	By:	 	 /s/ Virginia Neale

	Name:	 	Virginia Neale
	Title:	 	Vice President


 Accepted and Agreed: 

 

					
	 LASALLE HOTEL OPERATING PARTNERSHIP,
L.P.

		
	By:	 	LaSalle Hotel Properties, its general partner
			
		 	By:	 	 /s/ Hans Weger

		 	Name:	 	Hans Weger
		 	Title:	 	Chief Financial Officer


  
 [Signature
Page to Total Commitments Increase Agreement] 








 ANNEX 1 

TERMS AND CONDITIONS FOR 

TOTAL COMMITMENTS INCREASE AGREEMENT 

1. Representations and Warranties.  
 1.1 BB&T and BMO Captial Markets each (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Agreement and to
consummate the transactions contemplated hereby and to become a Bank under the Credit Agreement, (ii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Bank thereunder and, to the extent of its
New Commitment, shall have the obligations of a Bank thereunder, (iii) agrees that its payment instructions and notice instructions are as set forth in Schedule 1 to this Agreement, (iv) confirms it has received a copy of the Credit
Agreement, together with copies of financial statements and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement and to extend its New Commitment on the basis of
which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Bank, and (v) attached as part of Schedule 1 to this Agreement is any documentation required to be delivered by such New
Bank with respect to its tax status pursuant to the terms of the Credit Agreement, duly completed and executed by such New Bank and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent or any other
Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Documents, and (ii) it will perform in accordance with their
terms all of the obligations which by the terms of the Credit Documents are required to be performed by it as a Bank. 
 1.2. BMO represents and warrants that it has full power and authority, and has taken all action necessary, to execute and deliver this Agreement and to consummate the transactions contemplated hereby.

 1.3. RBS represents and warrants that it has full power and authority, and has taken all action necessary, to
execute and deliver this Agreement and to consummate the transactions contemplated hereby. 
 1.4. Wachovia
represents and warrants that it has full power and authority, and has taken all action necessary, to execute and deliver this Agreement and to consummate the transactions contemplated hereby. 

1.5. Raymond James represents and warrants that it has full power and authority, and has taken all action necessary, to
execute and deliver this Agreement and to consummate the transactions contemplated hereby. 
 1.6. U.S. Bank
represents and warrants that it has full power and authority, and has taken all action necessary, to execute and deliver this Agreement and to consummate the transactions contemplated hereby. 

1.7. National City represents and warrants that it has full power and authority, and has taken all action necessary, to
execute and deliver this Agreement and to consummate the transactions contemplated hereby. 
 1.8. The Borrower
represents and warrants that as of the Effective Date it is in compliance with the terms and conditions of the Credit Agreement, the representations and warranties made in the Credit Agreement are true and correct in all material respects, and no
Default has occurred and is continuing under the Credit Agreement or shall result after giving effect to this Agreement. 
 2.
Conditions Precedent. This Agreement shall be effective on that date that each of the following conditions precedent is satisfied (“Effective Date”). 

2.1. The Borrower, the New Banks, the Increasing Banks and the Administrative Agent shall have executed and delivered this
Agreement; 
 2.2. The Borrower shall have executed and delivered Notes payable to the New Banks and the
Increasing Banks in the amount of their respective New Commitments and Increased Commitments. 
 2.3. The
Administrative Agent shall have received a certificate of the Secretary or an Assistant Secretary of the Parent on behalf of the Borrower dated as of the date of this Agreement certifying as of the date of this Agreement (A) resolutions of the
Board of Directors or the members of the general partner of the Borrower with respect to the transactions herein contemplated, (B) a true and correct copy of the organizational documents of the Parent, (C) a true and correct copy of the
partnership agreement for the Borrower, and (D) a true and correct copy of all partnership authorizations necessary or desirable in connection with the transactions herein contemplated; and 







 2.4. The Administrative Agent shall have received a favorable written
opinion of DLA Piper US LLP, special counsel for the Borrower, in a form reasonably acceptable to the Administrative Agent, dated as of the date hereof. 
 3. Payments. 
 3.1. From and after the Effective Date, the
Administrative Agent shall make all payments in respect of the New Commitments (including payments of principal, interest, fees and other amounts) to the New Banks for amounts which have accrued from and after the Effective Date. 

3.2. From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Increased
Commitments (including payments of principal, interest, fees and other amounts) to the Increasing Banks for amounts which have accrued from and after the Effective Date. 

  
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 4. Limited Waiver. The Administrative Agent waives the requirement of
Section 1.06(a)(ii) of the Credit Agreement that the Borrower give 30 days written notice of an election to increase the Total Commitments. This wavier is limited as specifically written herein and does not constitute a waiver of any other term
or condition of the Credit Agreement. 
 5. Return of Old Notes. Promptly after the Effective Date, BMO and the
Increasing Banks shall return to the Borrower those old Notes, each dated June 30, 2005, delivered by the Borrower to BMO and the Increasing Banks on or about the Closing Date. 

6. General Provisions. This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and their respective
successors and assigns. The Borrower agrees to pay on demand all costs and expenses of or incurred by the Administrative Agent in connection with the negotiation, preparation, execution and delivery of this Agreement, including the fees and expenses
of counsel for the Administrative Agent. This Agreement may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Agreement by telecopy shall be
effective as delivery of a manually executed counterpart of this Agreement. This Agreement shall be governed by, and construed in accordance with, the law of the State of New York. 

  
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 SCHEDULE 1 

[Administrative Questionnaires for BB&T and BMO Capital Markets] 







 Bank of Montreal Administrative Questionnaire 

 

					
	Name of Deal	  	LaSalle Hotel Operating Partnership L.P.	 	
			
	Legal Name of Bank	  	 Branch Banking and Trust Company
	 	
	Exact Name of Signing Officer:	  	 Carolyne Pelton
	 	
	Tax payer ID#	  	 XX - XXXXXXX
	 	
	Title of Signing Officer	  	 Senior Vice President
	 	

 Attach your Institution’s applicable US Tax Form. 

 

					
		  	CREDIT CONTACT	  	LEGAL CONTACT
			
	Credit Contact Name:	  	 Carolyne Pelton
	  	 David Barnes

	Address:	  	 8200 Greensboro Dr Ste 1000
	  	 200 W 2nd Street

		  	 McLean, VA 22102
	  	 Winston-Salem, NC 27101

	Tel:	  	 703-442-5548
	  	 336-733-2182

	Fax:	  	 703-442-4025
	  	 336-733-2189

	E Mail Address	  	 CPelton@bbandt.com
	  	 DBarnes@bbandt.com

			
	Backup Name:	  	 James E. Davis
	  	
	Address:	  	 8200 Greensboro Dr Ste 1000
	  	
		  	 McLean, VA 22102
	  	
	Tel:	  	 703-442-5561
	  	
	Fax:	  	 703-442-4025
	  	
	E Mail Address	  	 JEDavis@bbandt.com
	  	
	
	(For Libor/Prime Lending)
			
	Contact Name:	  	 Divina S. Tamayo
	  	
	Address:	  	 8200 Greensboro Dr Ste 1000
	  	
		  	 McLean, VA 22102
	  	
	Tel:	  	 703-442-4438
	  	
	Fax:	  	 703-442-4025
	  	
	E Mail Address	  	 DTamayo@bbandt.com
	  	
	
	ADMINISTRATIVE CONTACT
			
	Contact Name:	  	 Divina S. Tamayo
	  	
	Address:	  	 8200 Greensboro Dr Ste 1000
	  	
		  	 McLean, VA 22102
	  	
	Tel:	  	 703-442-4438
	  	
	Fax:	  	 703-442-4025
	  	
	E Mail Address	  	 DTamayo@bbandt.com
	  	
	
	WIRE INSTRUCTIONS TO YOUR BANK
			
		  	 Branch Banking and Trust Company
	  	
		  	 Washington, DC
	  	
		  	 ABA: XXXXXXXXX
	  	
		  	 Account Name: LaSalle Hotel
	  	
		  	 Account Number:
	  	
		  	 Notify: Divina Tamayo @ 704-442-4038
	  	
	
	Bank of Montreal wire transfer Instructions:
			
		  	Harris N.A.	  	
		  	Chicago Branch	  	
		  	ABA# XXXXXXXXX	  	
		  	For further credit to	  	
		  	Bank of Montreal, Chicago branch	  	
		  	A/C# XXXXXXX	  	
		  	Re: LaSalle Hotel	  	

  

					
	Contacts at Bank of Montreal:	  		  	
	CLOSING SPECIALIST	  		  	SERVICING ANALYST
	Chandra Owens	  		  	Carl Fanning
	111 W. Monroe St. FL 11C	  		  	115 S. LaSalle St FL 17W
	Chicago, IL 60603	  		  	Chicago, IL 60603
	Tel: (312) 461-7299	  		  	Tel: 312-461-5322
	Fax: (312) 765-8078	  		  	Fax: 312-461-5955









			
	Bank of Montreal	  	
	Alicia Garcia	  	Mailing Address:
	Agency Services	  	115 S. Lasalle St- 17th floor
	Tele: (312) 461-7017	  	Chicago, Il 60603
	Fax: (312) 765-8078	  	
	alicia.garcia@harrisbank.com

  

					
	Reference- Deal Name:	 	
            LASALLE HOTEL OPERATING
PARTNERS
	  	
			
	Attention :	 	             ALICIA
GARCIA
	  	

  

			
	LEGAL NAME OF INSTITUTION:	  	 BANK OF MONTREAL

		
	Tax Payer ID #:	  	 XX-XXXXXXX

		
	Name of Fund Manager (if applicable):	  	  



  

			
	Relationship Manager: (Credit Contact)
		
	Name:	  	 Aaron Lanski

	Title:	  	 Director- Corporate Real Estate

	Address:	  	 115 S. LaSalle- 18W

		  	 Chicago, IL 60603

		  	  

	Telephone:	  	 312-461-6364

	Fax:	  	  

	Email:	  	 aaron.lanski@harrisbank.com




FOR ALL ACTIVITY ON THIS CREDIT: 

(i.e. new borrowing, disbursements of fees, payments, etc.) 
  

					
	PRIMARY SERVICING CONTACT	 		  	DEAL SPECIALIST (CLOSINGS-AMENDMENTS)
	Nancy Surla	 		  	Alicia Garcia
	Bank of Montreal	 		  	Bank of Montreal
	115 S. LaSalle - 17th Floor West	 		  	115 S. LaSalle - 17th Floor West
	Chicago, IL 60603	 		  	Chicago, IL 60603
			
	BMO Agency Services	 		  	BMO Agency Services
	Telephone Number: (312) 461-2290	 		  	Telephone Number: (312) 461-7017
	Fax Number: (312) 461-3458	 		  	Fax Number: (312) 765-8078
	GFS.AgencyUS@bmo.com	 		  	

 AGENT PAYMENT/WIRE TRANSFER INSTRUCTIONS: 

Harris NA 

Chicago, IL 

ABA # XXXX XXXXX 
 Acct Name:    Bank of Montreal 
 Acct No: XXX-XXX-X

 Attention: BMO Global Distribution 
 Reference:      LASALLE HOTEL OPERATING PARTNERS