Document:

exv10w34w1w2

 

	 	 	 	 	 

Exhibit 10.34.1.2

AMENDMENT NO. 2 TO CREDIT AGREEMENT

     This AMENDMENT NO. 2 TO CREDIT AGREEMENT (this “Amendment No. 2”) is made as of January 25,
2006 among (a) FelCor Lodging Trust Incorporated and FelCor Lodging Limited Partnership
(collectively, the “Borrowers”), (b) the Lenders party hereto, and (c) JPMorgan Chase Bank, N.A.
(“JPMCB”) as Administrative Agent (in such capacity, the “Administrative Agent”) for the Lenders.

     WHEREAS, the Borrowers, the Lenders and the Administrative Agent are parties to a Credit
Agreement, dated as of December 12, 2005, as amended by Amendment No. 1 dated as of January 12,
2006 (the “Credit Agreement”), pursuant to which the Lenders have agreed to make loans to the
Borrowers on the terms and conditions set forth therein; and

     WHEREAS, the Borrowers have requested that the Lenders amend certain provisions of the Credit
Agreement, and the Lenders party hereto are willing to so amend certain provisions of the Credit
Agreement on the terms and conditions set forth herein;

     NOW, THEREFORE, in consideration of the foregoing premises, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and fully intending to
be legally bound by this Amendment No. 2, the parties hereto agree as follows:

     1. Definitions. Capitalized terms used herein without definition shall have the
meanings assigned to such terms in the Credit Agreement.

     2. Amendments to Credit Agreement. As of the Effective Date (as defined in Section 4
hereof) the Credit Agreement is amended as follows:

     (a) Section 4.1(h) of the Credit Agreement is amended by restating such section in its
entirety to read as follows:

     ”(h) The Administrative Agent shall have received satisfactory evidence that
the Borrower’s Term Credit Agreement dated as of October 18, 2005 among the FelCor
Partnership and certain of its Subsidiaries, Citicorp North America, Inc., as
administrative agent and certain other parties shall be repaid in full and
terminated with the proceeds of the initial Loans hereunder.”

 

 

     (b) Section 5.13(a) of the Credit Agreement is amended by restating the proviso in the
first sentence of such section in its entirety as follows:

     ”; provided that a wholly-owned Subsidiary that owns or ground-leases an
Unencumbered Asset shall not be required to execute and deliver a Subsidiary
Guaranty so long as the aggregate book value of all Unencumbered Assets owned or
ground leased by wholly-owned Subsidiaries that are not Subsidiary Guarantors does
not exceed 2% of Total Unencumbered Assets.”

     3. Provisions Of General Application.

     3.1. No Other Changes. Except as otherwise expressly provided or contemplated
by this Amendment No. 2, all of the terms, conditions and provisions of the Credit
Agreement remain unaltered and in full force and effect. The Credit Agreement and this
Amendment No. 2 shall be read and construed as one agreement.

     3.2. Governing Law. THIS AMENDMENT NO. 2 SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

     3.3. Assignment. This Amendment No. 2 shall be binding upon and inure to
the benefit of each of the parties hereto and their respective permitted successors and
assigns.

     3.4. Counterparts. This Amendment No. 2 may be executed in any number of
counterparts, but all such counterparts shall together constitute but one and the same
agreement. In making proof of this Amendment No. 2, it shall not be necessary to produce
or account for more than one counterpart thereof signed by each of the parties hereto.

     4. Effectiveness of this Amendment No. 2. This Amendment No. 2 shall become effective
on (the “Effective Date”) the date of execution and
delivery to the Administrative Agent by each of the Required Lenders, the Borrowers, and the
Administrative Agent of this Amendment No. 2.

[Remainder of page left blank intentionally]

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     IN WITNESS WHEREOF, the undersigned have duly executed and delivered this Amendment No. 2 as
of the date first set forth above.

	 	 	 	 	 
	BORROWERS:            	FELCOR LODGING TRUST INCORPORATED

 	 
	 	By:  	
/s/ Joel M. Eastman 	 
	 	 	Name:  	Joel M. Eastman 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	 	FELCOR LODGING LIMITED PARTNERSHIP
	 
	 	 	 	 
	 

	 	By:
	 	FelCor Lodging Trust Incorporated,
	 

	 	 	 	its General Partner

	 	 	 	 	 
	 	By:  	
/s/ Joel M. Eastman 	 
	 	 	Name:  	Joel M. Eastman 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 
	LENDERS:

	 	JPMORGAN CHASE BANK, N.A.,
	 
	 	 
	 

	 	individually and as Swingline Lender, Issuing
	 

	 	Bank and Administrative Agent,

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Donald
Shokrian	 
	 	 	Name:  	Donald
Shokrian 	 
	 	 	Title:  	Managing Director 	 
	 
	 	CITICORP NORTH AMERICA, INC.

 	 
	 	By:  	/s/ Jeanne
M. Craig	 
	 	 	Name:  	Jeanne M. Craig 	 
	 	 	Title:  	Vice President 	 
	 
	 	MERRILL LYNCH CAPITAL CORPORATION

 	 
	 	By:  	/s/ John
C. Rowland	 
	 	 	Name:  	John C. Rowland 	 
	 	 	Title:  	Vice President 	 
	 
	 	BANK OF AMERICA, N.A.

 	 
	 	By:  	/s/ Lesa
J. Butler	 
	 	 	Name:  	Lesa J. Butler 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	DEUTSCHE BANK TRUST COMPANY 

AMERICAS

 	 
	 	By:  	/s/ Steven
P. Lapham	 
	 	 	Name:  	Steven P. Lapham 	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	/s/ Brenda
Casey	 
	 	 	Name:  	Brenda Casey 	 
	 	 	Title:  	Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	MORGAN STANLEY SENIOR FUNDING, INC.

 	 
	 	By:  	/s/ Daniel Twenge
 	 
	 	 	Name:  	Daniel Twenge	 
	 	 	Title:  	Vice Presidentexv10w34w2

 

Exhibit 10.34.2

SUBSIDIARY GUARANTY

     Subsidiary
Guaranty, dated as of January 27, 2006 by and among the undersigned and such other
Persons which may become party hereto from time to time by executing a joinder (in the form of
Appendix 1 hereto) (each a “Subsidiary Guarantor” and collectively the “Subsidiary Guarantors”), in
favor of each of the Lenders (as defined herein) and JPMorgan Chase Bank, N.A., as administrative
agent (in such capacity, the “Administrative Agent”) for itself and for the other financial
institutions (collectively, the “Lenders”) which are or may become parties to the Credit Agreement
dated as of December 12, 2005, among FelCor Lodging Trust Incorporated and FelCor Lodging Limited
Partnership (the “Borrowers”), the Administrative Agent, and the Lenders (as amended or modified,
the “Credit Agreement”). Capitalized terms used herein without definition shall have the meanings
ascribed to them in the Credit Agreement.

     WHEREAS, the Borrowers, the Administrative Agent, the Lenders and the other parties thereto
have entered into the Credit Agreement;

     WHEREAS, the Borrowers and each Subsidiary Guarantor are members of a group of related
entities, the success of each of which is dependent in part on the success of the other members of
such group;

     WHEREAS, each Subsidiary Guarantor expects to receive substantial direct and indirect benefits
from the Revolving Loans made by each Lender to the Borrowers pursuant to the Credit Agreement
(which benefits are hereby acknowledged);

     WHEREAS, the Borrowers have covenanted and agreed with the Lenders, that pursuant to Section
5.13 of the Credit Agreement, the undersigned Subsidiary Guarantors shall execute and deliver this
Subsidiary Guaranty; and

     WHEREAS, each Subsidiary Guarantor wishes to guaranty the Borrowers’ obligations to the
Lenders and the Administrative Agent under and in respect of the Credit Agreement as herein
provided.

     NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby
agree as follows:

     1. Guaranty of Payment and Performance of Obligations. In consideration of the
Lenders’ extending credit, or otherwise, in their discretion, giving time, financial or banking
facilities or accommodations to the Borrowers, each Subsidiary Guarantor hereby jointly and
severally, absolutely, irrevocably and unconditionally guarantees to the Administrative Agent and
each Lender that the Borrowers will duly and punctually pay or perform, at the place specified
therefor, or if no place is specified, at the Administrative Agent’s head office, (i) all
indebtedness, obligations and liabilities of the Borrowers to any of the Lenders and the
Administrative Agent, individually or

 

 

collectively, under the Credit Agreement or any of the other
Loan Documents or in respect of any of the Loans or the Notes or other instruments at any time
evidencing any obligations thereunder, whether existing on the date of the Credit Agreement or arising or
incurred thereafter, direct or indirect, secured or unsecured, joint or several, absolute or
contingent, matured or unmatured, liquidated or unliquidated, arising by contract, operation of law
or otherwise, including all such which would become due but for the operation of the automatic stay
pursuant to §362(a) of the Federal Bankruptcy Code and the operation of §§502(b) and 506(b) of the
Federal Bankruptcy Code; and (ii) without limitation of the foregoing, all reasonable fees, costs
and expenses incurred by the Administrative Agent or the Lenders in attempting to collect or
enforce any of the foregoing, accrued in each case to the date of payment thereof (collectively the
“Obligations” and individually an “Obligation”). This Subsidiary Guaranty is an absolute,
unconditional and continuing guaranty of the full and punctual payment and performance by the
Borrowers of the Obligations and not of their collectibility only and is in no way conditioned upon
any requirement that any Lender or the Administrative Agent first attempt to collect any of the
Obligations from the Borrowers or resort to any security or other means of obtaining payment of any
of the Obligations which any Lender or the Administrative Agent now has or may acquire after the
date hereof or upon any other contingency whatsoever. Upon any Event of Default which is
continuing by the Borrowers in the full and punctual payment and performance of the Obligations,
the liabilities and obligations of each Subsidiary Guarantor hereunder shall, at the option of the
Administrative Agent, become forthwith due and payable to the Administrative Agent and to the
Lender or Lenders owed the same without demand or notice of any nature, all of which are expressly
waived by each Subsidiary Guarantor, except for notices required to be given to the Borrowers under
the Loan Documents. Payments by the Subsidiary Guarantors hereunder may be required by any Lender
or the Administrative Agent on any number of occasions.

     2. Subsidiary Guarantor’s Further Agreements to Pay. Each Subsidiary Guarantor
further jointly and severally agrees, as the principal obligor and not as a guarantor only, to pay
to each Lender and the Administrative Agent forthwith upon demand, in funds immediately available
to such Lender or the Administrative Agent, all costs and expenses (including court costs and legal
fees and expenses) incurred or expended by the Administrative Agent or such Lender in connection
with this Subsidiary Guaranty and the enforcement hereof, together with interest on amounts
recoverable under this Subsidiary Guaranty from the time after such amounts become due at the
default rate of interest set forth in the Credit Agreement; provided that if such interest exceeds
the maximum amount permitted to be paid under applicable law, then such interest shall be reduced
to such maximum permitted amount.

     3. Payments. Each Subsidiary Guarantor jointly and severally covenants and agrees
that the Obligations will be paid strictly in accordance with their respective terms regardless of
any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such
terms or the rights of the Administrative Agent or any Lender with respect thereto. Without
limiting the generality of the foregoing, each Subsidiary Guarantor’s obligations hereunder with
respect to any Obligation shall not be discharged

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by a payment in a currency other than the currency in which the Obligation is denominated (the “Obligation Currency”) or at a place other
than the place specified for the payment of the Obligation, whether pursuant to a judgment or otherwise, to the extent that
the amount so paid on conversion to the Obligation Currency and transferred to New York, New York,
U.S.A., under normal banking procedures does not yield the amount of Obligation Currency due
thereunder.

     4. Taxes. All payments hereunder shall be made without any counterclaim or set-off,
free and clear of, and without reduction for any Indemnified Taxes or Other Taxes, which are now or
may hereafter be imposed, levied or assessed by any Governmental Authority on payments hereunder,
all of which will be for the account of and paid by the Subsidiary Guarantors. If for any reason,
any such reduction is made or any Taxes are paid by the Administrative Agent or any Lender (except
for taxes on income or profits of such Administrative Agent or Lender), each Subsidiary Guarantor
jointly and severally agrees to pay to the Administrative Agent or such Lender such additional
amounts as may be necessary to ensure that the Administrative Agent or such Lender receives the
same net amount which it would have received had no such reduction been made or Taxes paid.

     5. Consent to Jurisdiction. Each Subsidiary Guarantor agrees that any suit for the
enforcement of this Subsidiary Guaranty or any of the other Loan Documents may be brought in the
courts of the State of New York sitting in New York, New York or any federal court sitting in New
York, New York and consents to the non-exclusive jurisdiction of such courts and the service of
process in any such suit being made upon such Subsidiary Guarantor by mail at the address specified
herein. Except to the extent such waiver is expressly prohibited by law, each Subsidiary Guarantor
hereby waives any objection that it may now or hereafter have to the venue of any such suit or any
such court or that such suit is brought in an inconvenient court.

     6. Liability of each Subsidiary Guarantor. The Administrative Agent and each Lender
have and shall have the absolute right to enforce the liability of each Subsidiary Guarantor
hereunder without resort to any other right or remedy including any right or remedy under any other
guaranty or against any other Subsidiary Guarantor, and the release or discharge of any Subsidiary
Guarantor or other guarantor of any Obligations shall not affect the continuing liability of each
Subsidiary Guarantor hereunder that has not been released or discharged.

     It is the intention and agreement of each Subsidiary Guarantor, the Administrative Agent and
the Lenders that the obligations of each Subsidiary Guarantor under this Subsidiary Guaranty shall
be joint and several and valid and enforceable against each Subsidiary Guarantor to the maximum
extent permitted by applicable law. Accordingly, if any provision of this Subsidiary Guaranty
creating any obligation of any Subsidiary Guarantor in favor of the Administrative Agent and the
Lenders shall be declared to be invalid or unenforceable in any respect or to any extent, it is the
stated intention and agreement of the Subsidiary Guarantors, the Administrative Agent and the
Lenders that any balance of the obligation created by such provision and all other obligations of
each

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of the other Subsidiary Guarantors to the Administrative Agent and the Lenders created by
other provisions of this Subsidiary Guaranty shall remain valid and enforceable.
Likewise, if by final order a court of competent jurisdiction shall declare any sums which the
Administrative Agent or the Lenders may be otherwise entitled to collect from any Subsidiary
Guarantor under this Subsidiary Guaranty to be in excess of those permitted under any law
(including any federal or state fraudulent conveyance or like statute or rule of law) applicable to
such Subsidiary Guarantor’s obligations under this Subsidiary Guaranty, it is the stated intention
and agreement of the Subsidiary Guarantors, the Administrative Agent and the Lenders that all sums
not in excess of those permitted under such applicable law shall remain fully collectible by the
Administrative Agent and the Lenders from each of the other Subsidiary Guarantors, jointly and
severally.

     7. Representations and Warranties; Covenants. (a) Each Subsidiary Guarantor hereby
makes and confirms the representations and warranties made on its behalf by the Borrowers pursuant
to §3 of the Credit Agreement, as if such representations and warranties were set forth herein.
Each Subsidiary Guarantor hereby agrees to perform the covenants set forth in §§5 and 6 of the
Credit Agreement (to the extent such covenants expressly apply to such Subsidiary Guarantor) as if
such covenants were set forth herein. Each Subsidiary Guarantor acknowledges that it is, on a
collective basis with the Borrowers and all other Subsidiary Guarantors, bound by the financial
covenants and other covenants set forth in §6.1 of the Credit Agreement. Each Subsidiary Guarantor
hereby confirms that it shall be bound by all acts or omissions of the Borrowers pursuant to the
Credit Agreement.

          (b) Each Subsidiary Guarantor is a limited liability company, limited partnership,
corporation, or other legal entity, as applicable, duly formed or organized, validly existing and
in good standing under the laws of the state of its formation or organization; each Subsidiary
Guarantor has all requisite limited liability company, limited partnership, corporate or other
legal entity power, as applicable, to own its respective properties and conduct its respective
business as now conducted and as presently contemplated; and such Subsidiary Guarantor is in good
standing as a foreign entity and is duly authorized to do business in the jurisdictions where the
properties and Unencumbered Assets owned or ground-leased by it are located and in each other
jurisdiction where such qualification is necessary except where a failure to be so qualified in
such other jurisdiction would not have a Material Adverse Effect. The execution, delivery and
performance of this Subsidiary Guaranty and the transactions contemplated hereby (i) are within the
authority of such Subsidiary Guarantor, (ii) have been duly authorized by all necessary proceedings
on the part of such Subsidiary Guarantor and any member, manager, or other controlling Person
thereof, (iii) do not conflict with or result in any breach or contravention of any provision of
law, statute, rule or regulation to which such Subsidiary Guarantor is subject or any judgment,
order, writ, injunction, license or permit applicable to such Subsidiary Guarantor, (iv) do not
conflict with any provision of the Certificate of Organization or Formation, the limited liability
company agreement, articles of incorporation, bylaws, or other authority documents of such
Subsidiary Guarantor or the authority documents of any controlling Person thereof, and (v) do not
contravene any provisions of, or constitute a default, Default or Event of

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Default or a failure to comply with any term, condition or provision of, any other agreement, instrument, judgment, order,
decree, permit, license or undertaking binding upon or applicable to such Subsidiary Guarantor or any of such Subsidiary Guarantor’s
properties (except for any such failure to comply under any such other agreement, instrument,
judgment, order, decree, permit, license, or undertaking as would not have a Material Adverse
Effect) or result in the creation of any mortgage, pledge, security interest, lien, encumbrance or
charge upon any of the properties or assets of such Subsidiary Guarantor.

          (c) The Guaranty has been duly executed and delivered and constitutes the legal, valid and
binding obligations of each Subsidiary Guarantor, subject only to applicable bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or
affecting generally the enforcement of creditors’ rights and to the fact that the availability of
the remedy of specific performance or injunctive relief is subject to the discretion of the court
before which any proceeding therefor may be brought.

          (d) The execution, delivery and performance by each Subsidiary Guarantor of this Subsidiary
Guaranty and the transactions contemplated hereby do not require (i) the approval or consent of any
governmental agency or authority other than those already obtained, or (ii) filing with any
governmental agency or authority, other than filings which will be made with the SEC when and as
required by law.

     8. Effectiveness. The obligations of each Subsidiary Guarantor under this Subsidiary
Guaranty shall continue in full force and effect and shall remain in operation until all of the
Obligations shall have been paid in full or otherwise fully satisfied, and continue to be effective
or be reinstated, as the case may be, if at any time payment or other satisfaction of any of the
Obligations is rescinded or must otherwise be restored or returned upon the bankruptcy, insolvency,
or reorganization of a Borrower, or otherwise, as though such payment had not been made or other
satisfaction occurred. No invalidity, irregularity or unenforceability of the Obligations by
reason of applicable bankruptcy laws or any other similar law, or by reason of any law or order of
any government or agency thereof purporting to reduce, amend or otherwise affect the Obligations,
shall impair, affect, be a defense to or claim against the obligations of any Subsidiary Guarantor
under this Subsidiary Guaranty.

     9. Freedom of Lender to Deal with Borrowers and Other Parties. The Administrative
Agent and each Lender shall be at liberty, without giving notice to or obtaining the assent of any
Subsidiary Guarantor and without relieving any Subsidiary Guarantor of any liability hereunder, to
deal with the Borrowers and with each other party who now is or after the date hereof becomes
liable in any manner for any of the Obligations, in such manner as the Administrative Agent or such
Lender in its sole discretion deems fit, and to this end each Subsidiary Guarantor gives to the
Administrative Agent and each Lender full authority in its sole discretion to do any or all of the
following things: (a) extend credit, make loans and afford other financial accommodations to the
Borrowers at such times, in such amounts and on such terms as

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the Administrative Agent or such Lender may approve, (b) vary the terms and grant extensions of any present or future indebtedness
or obligation of the Borrowers or of any other party to the Administrative Agent or such Lender, (c) grant time, waivers and other
indulgences in respect thereto, (d) vary, exchange, release or discharge, wholly or partially, or
delay in or abstain from perfecting and enforcing any security or guaranty or other means of
obtaining payment of any of the Obligations which the Administrative Agent or any Lender now has or
may acquire after the date hereof, (e) accept partial payments from the Borrowers or any such other
party, (f) release or discharge, wholly or partially, any endorser or guarantor, and (g) compromise
or make any settlement or other arrangement with the Borrowers or any such other party.

     10. Unenforceability of Obligations Against Borrowers; Invalidity of Security or Other
Guaranties. If for any reason a Borrower has no legal existence or is under no legal
obligation to discharge any of the Obligations undertaken or purported to be undertaken by it or on
its behalf, or if any of the moneys included in the Obligations have become irrecoverable from a
Borrower by operation of law or for any other reason, this Subsidiary Guaranty shall nevertheless
be binding on each Subsidiary Guarantor to the same extent as if such Subsidiary Guarantor at all
times had been the principal debtor on all such Obligations. This Subsidiary Guaranty shall be in
addition to any other guaranty or other security for the Obligations, and it shall not be
prejudiced or rendered unenforceable by the invalidity of any such other guaranty or security.

     11. Waivers by Subsidiary Guarantor. Each Subsidiary Guarantor waives notice of
acceptance hereof, notice of any action taken or omitted by the Administrative Agent or any Lender
in reliance hereon, and any requirement that the Administrative Agent or any Lender be diligent or
prompt in making demands hereunder, giving notice of any default by the Borrowers or asserting any
other rights of the Administrative Agent or any Lender hereunder. Each Subsidiary Guarantor also
irrevocably waives, to the fullest extent permitted by law, all defenses in the nature of
suretyship that at any time may be available in respect of such Subsidiary Guarantor’s obligations
hereunder by virtue of any statute of limitations, valuation, stay, moratorium law or other similar
law now or hereafter in effect.

     12. Restriction on Subrogation and Contribution Rights. Notwithstanding any other
provision to the contrary contained herein or provided by applicable law, unless and until all of
the Obligations have been indefeasibly paid in full in cash and satisfied in full, each Subsidiary
Guarantor hereby irrevocably defers and agrees not to enforce any and all rights it may have at any
time (whether arising directly or indirectly, by operation of law or by contract) to assert any
claim against the Borrowers on account of payments made under this Subsidiary Guaranty, including,
without limitation, any and all rights of or claim for subrogation, contribution, reimbursement,
exoneration and indemnity, and further waives any benefit of and any right to participate in any
collateral which may be held by the Administrative Agent or any Lender or any affiliate of the
Administrative Agent or any Lender. In addition, each Subsidiary Guarantor will not claim any
set-off or counterclaim against the Borrowers in respect of any liability it may have to the

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Borrowers unless and until all of the Obligations have been indefeasibly paid in full in cash and
satisfied in full.

     Subject to the foregoing and the indefeasible performance and payment in full of the
Obligations, each Subsidiary Guarantor acknowledges that all other Subsidiary Guarantors shall have
contribution rights against such Subsidiary Guarantor in accordance with applicable law and in
accordance with each such Person’s benefits received under the Credit Agreement and the Loans.

     13. Demands. Any demand on or notice made or required to be given pursuant to this
Subsidiary Guaranty shall be in writing and shall be delivered in hand, mailed by United States
registered or certified first class mail, postage prepaid, return receipt requested, sent by
overnight courier, or sent by telegraph, telecopy, telefax or telex and confirmed by delivery via
courier or postal service, addressed as follows:

(a) if to the Subsidiary Guarantors, at

c/o FelCor Lodging Trust Incorporated

545 E. John Carpenter Freeway, Suite 1300

Irving, TX 75062

Attention: General Counsel

or at such other address for notice as the Subsidiary Guarantors shall last have

furnished in writing to the Administrative Agent;

(b) if to the Administrative Agent, at

JP Morgan Chase Bank, N.A.

Loan and Agency Services Group

1111 Fannin Street

10th Floor

Houston, TX 77002,

with a copy to,

JP Morgan Chase Bank, N.A.

277 Park Avenue

New York, New York 10172

Attention: Donald Shokrian

or at such other address for notice as the Administrative Agent shall last have

furnished in writing to the Subsidiary Guarantors; and

(c) if to any Lender, at such Lender’s address as set forth in its Administrative

Questionnaire.

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     Any such notice or demand shall be deemed to have been duly given or made and to have become
effective (i) if delivered by hand, overnight courier or facsimile to the party to which it is
directed, at the time of the receipt thereof by such party or the confirmed transmission of such facsimile or (ii) if sent by registered or certified
first-class mail, postage prepaid, return receipt requested, on the fifth Business Day following
the mailing thereof.

     14. Amendments, Waivers, Etc. No provision of this Subsidiary Guaranty can be
changed, waived, discharged or terminated except by an instrument in writing signed by the
Administrative Agent and the Subsidiary Guarantors expressly referring to the provision of this
Subsidiary Guaranty to which such instrument relates; and no such waiver shall extend to, affect or
impair any right with respect to any Obligation which is not expressly dealt with therein. No
course of dealing or delay or omission on the part of the Administrative Agent or the Lenders or
any of them in exercising any right shall operate as a waiver thereof or otherwise be prejudicial
thereto.

     15. Further Assurances. Each Subsidiary Guarantor at its sole cost and expense agrees
to do all such things and execute, acknowledge and deliver all such documents and instruments as
the Administrative Agent from time to time may reasonably request in order to give full effect to
this Subsidiary Guaranty and to perfect and preserve the rights and powers of the Administrative
Agent and the Lenders hereunder.

     16. Miscellaneous Provisions. This Subsidiary Guaranty is intended to take effect as
a sealed instrument to be governed by and construed in accordance with the laws of the State of New
York and shall inure to the benefit of the Administrative Agent, each Lender and its respective
successors in title and assigns permitted under the Credit Agreement, and shall be binding on each
Subsidiary Guarantor and each Subsidiary Guarantor’s successors in title, assigns and legal
representatives. The rights and remedies herein provided are cumulative and not exclusive of any
remedies provided by law or any other agreement. The invalidity or unenforceability of any one or
more sections of this Subsidiary Guaranty shall not affect the validity or enforceability of its
remaining provisions. Captions are for ease of reference only and shall not affect the meaning of
the relevant provisions. The meanings of all defined terms used in this Subsidiary Guaranty shall
be equally applicable to the singular and plural forms of the terms defined.

     17. WAIVER OF JURY TRIAL. EXCEPT TO THE EXTENT SUCH WAIVER IS EXPRESSLY PROHIBITED BY
LAW, EACH SUBSIDIARY GUARANTOR HEREBY IRREVOCABLY WAIVES TRIAL BY JURY IN ANY JURISDICTION AND IN
ANY COURT WITH RESPECT TO, IN CONNECTION WITH, OR ARISING OUT OF THIS SUBSIDIARY GUARANTY, THE
OBLIGATIONS, OR ANY INSTRUMENT OR DOCUMENT DELIVERED PURSUANT HERETO OR THERETO OR ANY OTHER CLAIM
OR DISPUTE HOWSOEVER ARISING, AMONG THE SUBSIDIARY GUARANTORS, THE BORROWERS, THE ADMINISTRATIVE
AGENT AND/OR THE LENDERS. THIS WAIVER OF JURY TRIAL SHALL BE EFFECTIVE FOR EACH AND EVERY

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DOCUMENT EXECUTED BY THE SUBSIDIARY GUARANTORS, THE ADMINISTRATIVE AGENT OR THE LENDERS AND DELIVERED TO THE
ADMINISTRATIVE AGENT OR THE LENDERS, AS THE CASE MAY BE, WHETHER OR NOT SUCH DOCUMENTS SHALL CONTAIN SUCH A WAIVER OF JURY TRIAL. EACH SUBSIDIARY
GUARANTOR CONFIRMS THAT THE FOREGOING WAIVERS ARE INFORMED AND FREELY MADE.

[Remainder of Page Intentionally Left Blank]

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     IN WITNESS WHEREOF, each Subsidiary Guarantor has executed and delivered this Subsidiary
Guaranty as of the date first above written.

FELCOR/CSS HOLDINGS, L.P., a Delaware limited

partnership

By: FelCor CSS Hotels, L.L.C., a Delaware limited

       liability company, its general partner

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

FELCOR HOTEL ASSET COMPANY, L.L.C., a Delaware limited

liability company

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

FELCOR PENNSYLVANIA COMPANY, L.L.C., a Delaware

limited liability company

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

FELCOR LODGING HOLDING COMPANY, L.L.C., a Delaware

limited liability company

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

 

	 	 	 	 	 

FHAC TEXAS HOLDINGS, L.P., a Texas limited partnership

By: FelCor Hotel Asset Company, L.L.C., a Delaware

       limited liability company, its general partner

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman
 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

FELCOR CANADA CO., a Nova Scotia unlimited liability

company

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman
 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

FELCOR OMAHA HOTEL COMPANY, L.L.C., a Delaware limited

liability company

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman
 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

FELCOR TRS HOLDINGS, L.P., a Delaware limited

partnership

By: FelCor TRS I, L.L.C., a Delaware limited liability

       company, its general partner

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman
 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

 

	 	 	 	 	 

MYRTLE BEACH HOTELS, L.L.C., a Delaware limited

liability company

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman
 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

FELCOR TRS BORROWER 1, L.P., a Delaware limited

partnership

By: FelCor TRS Borrower GP 1, L.L.C., a Delaware

       limited liability company, its general partner

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman
 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

FELCOR TRS GUARANTOR, L.P., a Delaware limited

partnership

By: FelCor TRS Guarantor GP, L.L.C., a Delaware

       limited liability company, its general partner

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman
 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

CENTER CITY HOTEL ASSOCIATES, a Pennsylvania limited

partnership

By: FelCor Philadelphia Center, L.L.C., a Delaware

       limited liability company its general partner

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman
 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

 

	 	 	 	 	 

FELCOR LODGING COMPANY, L.L.C., a Delaware limited

liability company

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman
 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

FELCOR TRS BORROWER 3, L.P., a Delaware limited

partnership

By: FelCor TRS Borrower GP 3, L.L.C., a Delaware

       limited liability company, its general partner

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman
 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

FELCOR TRS BORROWER 4, L.L.C., a Delaware limited

liability company

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Joel M. Eastman
 	 
	 	Name:  	Joel M. Eastman 	 
	 	Title:  	Vice President 	 
	 

 

Appendix 1

FORM OF JOINDER AGREEMENT

(SUBSIDIARY GUARANTY)

Dated as of ______ __, 20___

JPMorgan Chase Bank, N.A.,

   as Administrative Agent

277 Park Avenue

New York, New York 10172

Attention: Donald Shokrian (Fax: 646-534-0574)

Ladies and Gentlemen:

          Reference is hereby made to (a) the Credit Agreement, dated as of December 12, 2005 (as
amended and in effect from time to time, the “Credit Agreement”), by and among FELCOR LODGING TRUST
INCORPORATED and FELCOR LODGING LIMITED PARTNERSHIP (the “Borrowers”), the Lenders party thereto
and JPMORGAN CHASE BANK, N.A., as Administrative Agent for itself and the Lenders (the
“Administrative Agent”), (b) the Subsidiary Guaranty dated as of January 23, 2006 (the “Subsidiary
Guaranty”) from certain subsidiaries of the Borrowers to the Lenders and the Administrative Agent.
Terms not otherwise defined herein which are defined in the Credit Agreement shall have the
respective meanings given thereto in the Credit Agreement.

     1. Joinder to Subsidiary Guaranty.

          The Undersigned,                     , a                     , (the “Undersigned”) hereby joins the
Subsidiary Guaranty as a Subsidiary Guarantor and agrees to comply with and be bound by all of the
terms, conditions and covenants of the Subsidiary Guaranty. Without limiting the generality of the
preceding sentence, the Undersigned agrees that it shall be jointly and severally liable, together
with the other Subsidiary Guarantors thereunder, for the guaranty of the payment and performance of
all obligations of the Borrowers under the Credit Agreement as further set forth therein.

          From and after the Effective Date hereof (as hereinafter defined), all references in the Loan
Documents to the “Subsidiary Guarantors” shall for all purposes be deemed to include the
Undersigned.

     2. New Subsidiary Guarantor’s Representations and Warranties.

          The Undersigned represents and warrants to the Administrative Agent and the Lenders that:

 

	 	a.	 	it is capable of complying with and is in compliance with all of the provisions
of the Subsidiary Guaranty, the Credit Agreement and the other Loan Documents
applicable to it;
	 
	 	b.	 	each of the representations and warranties set forth in §3 of the Credit
Agreement made on its behalf by the Borrowers, except as set forth on Schedule 2(b)
attached hereto and each of the representations and warranties set forth in §7 of the
Subsidiary Guaranty is true and correct in all material respects with respect to the
Undersigned as of the date hereof (except to the extent that such representations and
warranties relate expressly to an earlier date);
	 
	 	c.	 	Schedule 2(c) attached hereto sets forth a true and accurate description of the
Subsidiary Guarantors and the revised Schedule 3.15 attached hereto sets forth
a true and accurate list of the properties and Unencumbered Assets.
	 
	 	d.	 	upon the execution of this Joinder Agreement, the Undersigned will be jointly
and severally liable, together with the other Subsidiary Guarantors, for the payment
and performance of all obligations of the Borrowers under the Credit Agreement as set
forth in the Subsidiary Guaranty.

     3. Delivery of Documents.

     The Undersigned hereby agrees that it shall comply with the requirements of §5.13 of the
Credit Agreement and shall deliver the items referenced therein to the Administrative Agent
concurrently with this Joinder Agreement (the date on which all such documents shall have been
delivered to the Administrative Agent being hereinafter referred to as the “Effective Date”), each
of which shall be in form and substance reasonably satisfactory to the Administrative Agent.

[Remainder of Page Intentionally Left Blank]

 

     This Joinder Agreement shall be governed by and construed in accordance with the laws of the
State of New York.

	 	 	 	 	 	 	 
	 	 	Very truly yours,
	 
	 	 	 

	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:	 	 	 	 

Accepted and Agreed:

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent

	 	 	 	 	 
	By:
	 	 	 	 
	Name:

	 	 

	 	 
	Title:

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