Document:

Amended and Restated 2002 Long Term Incentive and Stock Award Plan

 Exhibit 10.1 
 THE HAIN CELESTIAL GROUP, INC. 
 AMENDED AND RESTATED 

2002 LONG TERM INCENTIVE AND STOCK AWARD PLAN 
 1. Purposes.  
 The purposes of the Amended and Restated 2002 Long Term
Incentive and Stock Award Plan are to advance the interests of The Hain Celestial Group, Inc. and its stockholders by providing a means to attract, retain, and motivate employees, consultants and directors of the Company upon whose judgment,
initiative and efforts the continued success, growth and development of the Company is dependent. 
 2. Definitions.  

For purposes of the Plan, the following terms shall be defined as set forth below: 

(a) “Affiliate” means any entity other than the Company and its Subsidiaries that is designated by the
Board or the Committee as a participating employer under the Plan; provided, however, that the Company directly or indirectly owns at least 50% of the combined voting power of all classes of stock of such entity or at least 50% of the ownership
interests in such entity. 
 (b) “Award” means any Option, SAR, Restricted Share, RSU,
Performance Share, Performance Unit, Dividend Equivalent, or Other Share-Based Award granted to an Eligible Person under the Plan. 
 (c) “Award Agreement” means any written agreement, contract, or other instrument or document evidencing an Award. 

(d) “Beneficiary” means the person, persons, trust or trusts which have been designated by an Eligible
Person in his or her most recent written beneficiary designation filed with the Company to receive the benefits specified under this Plan upon the death of the Eligible Person, or, if there is no designated Beneficiary or surviving designated
Beneficiary, then the person, persons, trust or trusts entitled by will or the laws of descent and distribution to receive such benefits. 
 (e) “Board” means the Board of Directors of the Company. 
 (f) “Code” means the Internal Revenue Code of 1986, as amended from time to time. References to any provision of the Code shall be deemed to include successor provisions thereto and
regulations thereunder. 
 (g) “Committee” means the Compensation Committee of the Board, or
such other Board committee (which may include the entire Board) as may be designated by the Board to administer the Plan; provided, however, that, unless otherwise determined by the Board, the Committee shall consist of two or more directors of the
Company, each of whom is a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act, to the extent applicable, and each of whom is an “outside director” within the meaning of Section 162(m) of the
Code, to the extent applicable; provided, further, that the mere fact that the Committee shall fail to qualify under either of the foregoing requirements shall not invalidate any Award made by the Committee which Award is otherwise validly made
under the Plan. 
 (h) “Company” means The Hain Celestial Group, Inc., a corporation organized
under the laws of Delaware, or any successor corporation. 
 (i) “Director” means a member of
the Board who is not an employee of the Company, a Subsidiary or an Affiliate. 
 (j) “Dividend
Equivalent” means a right, granted under Section 5(g), to receive cash, Shares, or other property equal in value to dividends paid with respect to a specified number of Shares. Dividend Equivalents may be awarded on a free-standing
basis or in connection with another Award, and may be paid currently or on a deferred basis. 

 (k) “Eligible Person” means (i) an employee of the
Company, a Subsidiary or an Affiliate, including any director who is an employee, (ii) a consultant to the Company or (iii) a Director. 
 (1) “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time. References to any provision of the Exchange Act shall be deemed to include successor provisions
thereto and regulations thereunder. 
 (m) “Fair Market Value” means, with respect to Shares or
other property, the fair market value of such Shares or other property determined by such methods or procedures as shall be established from time to time by the Granting Authority. If the Shares are listed on any established stock exchange or a
national market system, the Fair Market Value of Shares shall mean the closing price on the date of the grant (or, if the Shares were not traded on that day, the next preceding day that the Shares are traded) on the principal exchange or market
system on which the Shares are traded, as such prices are officially quoted on such exchange. 
 (n)
“Granting Authority” means the Independent Members or the Committee that grants an Award as specified in Section 3, or each of them as required by the context. 

(o) “ISO” means any Option intended to be and designated as an incentive stock option within the meaning
of Section 422 of the Code. 
 (p) “Independent Members” means each Director, but no less
than two, who is a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act and each of whom is an “outside director” within the meaning of Section 162(m) of the Code; provided that the mere fact that
the Independent Members shall fail to qualify under either of the foregoing requirements shall not invalidate any Award made by the Independent Members which Award is otherwise validly made under the Plan. 

(q) “NQSO” means any Option that is not an ISO. 

(r) “Option” means a right, granted under Section 5(b), to purchase Shares. 

(s) “Other Share-Based Award” means a right, granted under Section 5(h), that relates to or is
valued by reference to Shares. 
 (t) “Participant” means an Eligible Person who has been
granted an Award under the Plan. 
 (u) “Performance Share” means a performance share granted
under Section 5(f). 
 (v) “Performance Unit” means a performance unit granted under
Section 5(f). 
 (w) “Plan” means this Amended and Restated 2002 Long Term Incentive and
Stock Award Plan. 
 (x) “Restricted Shares” or “RSU” means an Award of Shares
under Section 5(d) that may be subject to certain restrictions and to a risk of forfeiture. 
 (y)
“Restricted Share Unit” means a right, granted under Section 5(e), to receive Shares or cash at the end of a specified deferral period. 
 (z) “Rule 16b-3” means Rule 16b-3, as from time to time in effect and applicable to the Plan and Participants, promulgated by the Securities and Exchange Commission under Section 16
of the Exchange Act. 
 (aa) “SAR” or “Share Appreciation Right” means the
right, granted under Section 5(c), to be paid an amount measured by the difference between the exercise price of the right and the Fair Market Value of Shares on the date of exercise of the right, with payment to be made in cash, Shares, or
property as specified in the Award or determined by the Committee. 
 (bb) “Shares” means common
stock, $.01 par value per share, of the Company. 

  
 2 

 (cc) “Subsidiary” means any corporation (other than the
Company) in an unbroken chain of corporations beginning with the Company if each of the corporations (other than the last corporation in the unbroken chain) owns shares possessing 50% or more of the total combined voting power of all classes of
stock in one of the other corporations in the chain. 
 3. Administration.  

(a) Granting Authority. The Independent Members shall have the authority to make grants of Awards under the Plan,
provided that the Committee shall have authority to make grants of Awards under the Plan on a quarterly basis to Eligible Persons newly hired or retained since the most recent grants awarded by the Independent Members. Each Granting Authority shall
have full and final authority to take the following actions with respect to the Awards granted by it, in each case subject to and consistent with the provisions of the Plan: 

(i) to select Eligible Persons to whom Awards may be granted; 

(ii) to designate Affiliates; 
 (iii) to determine the type or types of Awards to be granted to each Eligible Person; 
 (iv) to determine the type and number of Awards to be granted, the number of Shares to which an Award may relate, the terms and conditions of any Award granted under the Plan (including, but not limited
to, any exercise price, grant price, or purchase price, any restriction or condition, any schedule for lapse of restrictions or conditions relating to transferability or forfeiture, exercisability, or settlement of an Award, and waiver or
accelerations thereof, and waivers of performance conditions relating to an Award, based in each case on such considerations as the Granting Authority shall determine), and all other matters to be determined in connection with an Award; 

(v) to determine whether, to what extent, and under what circumstances an Award may be settled, or the exercise price of
an Award may be paid, in cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, exchanged, or surrendered; 
 (vi) to determine whether, to what extent, and under what circumstances cash, Shares, other Awards, or other property payable with respect to an Award will be deferred either automatically, at the
election of the Granting Authority, or at the election of the Eligible Person; 
 (vii) to prescribe the form of
each Award Agreement, which need not be identical for each Eligible Person; 
 (viii) to correct any defect or
supply any omission or reconcile any inconsistency in the Plan and to construe and interpret the Plan and any Award, rules and regulations, Award Agreement, or other instrument hereunder; 

(ix) to accelerate the exercisability or vesting of all or any portion of any Award or to extend the period during which
an Award is exercisable; 
 (x) to determine whether uncertificated Shares may be used in satisfying Awards and
otherwise in connection with the Plan; and 
 (xi) to make all other decisions and determinations as may be
required under the terms of the Plan or as the Granting Authority may deem necessary or advisable for the administration of the Awards granted by it. 
 Subject to the foregoing authority expressly granted to the Independent Members with respect to Awards granted by them, the Committee shall have general authority and responsibility for the administration
of the Plan, including the authority to adopt, amend, suspend, waive, and rescind such rules and regulations and appoint such agents as the Committee may deem necessary or advisable to administer the Plan. 

  
 3 

 (b) Manner of Exercise of Authority. Each Granting Authority shall
have sole discretion in exercising its authority under the Plan. Any action of a Granting Authority with respect to grants made by it shall be final, conclusive, and binding on all persons, including the Company, Subsidiaries, Affiliates, Eligible
Persons, any person claiming any rights under the Plan from or through any Eligible Person, and stockholders. The express grant of any specific power to a Granting Authority, and the taking of any action by the Granting Authority, shall not be
construed as limiting any power or authority of a Granting Authority. A Granting Authority may delegate to other members of the Board or officers or managers of the Company or any Subsidiary or Affiliate the authority, subject to such terms as the
Granting Authority shall determine, to perform administrative functions and, with respect to Awards granted to persons not subject to Section 16 of the Exchange Act, to perform such other functions as the Granting Authority may determine, to
the extent permitted under Rule 16b-3 (if applicable) and applicable law. 
 (c) Limitation of Liability.
Each member of the Granting Authority shall be entitled to, in good faith, rely or act upon any report or other information furnished to him or her by any officer or other employee of the Company or any Subsidiary or Affiliate, the Company’s
independent certified public accountants, or other professional retained by the Company to assist in the administration of the Plan. No member of the Granting Authority, and no officer or employee of the Company acting on behalf of the Granting
Authority, shall be personally liable for any action, determination, or interpretation taken or made in good faith with respect to the Plan, and all members of the Granting Authority and any officer or employee of the Company acting on their behalf
shall, to the extent permitted by law, be fully indemnified and protected by the Company with respect to any such action, determination, or interpretation. 
 (d) Limitation on Committee’s Discretion. Anything in this Plan to the contrary notwithstanding, in the case of any Award which is intended to qualify as “performance-based
compensation” within the meaning of Section 162(m) (4)(C) of the Code, unless otherwise provided in an Award Agreement, there shall not be an increase in the amount of compensation payable under the Award to the extent such an
increase would cause the Award to lose its qualification as such performance-based compensation. 
 4. Shares Subject to the Plan. 

 (a) Subject to adjustment as provided in Section 4(d) hereof, the total number of Shares reserved for
issuance in connection with Awards under the Plan shall be 10,750,000. Each Share subject to an Award (other than an Option or SAR) shall count as 2.07 Shares for the purposes of the limit set forth in the preceding sentence. No Award may be granted
if the number of Shares to which such Award relates, when added to the number of Shares previously issued under the Plan, exceeds the number of Shares reserved under the preceding sentence. If any Awards are forfeited, canceled, terminated,
exchanged or surrendered or such Award is settled in cash or otherwise terminates without a distribution of Shares to the Participant, any Shares counted against the number of Shares reserved and available under the Plan with respect to such Award
shall, to the extent of any such forfeiture, settlement, termination, cancellation, exchange or surrender, again be available for Awards under the Plan. Upon the exercise of any Award granted in tandem with any other Awards, such related Awards
shall be canceled to the extent of the number of Shares as to which the Award is exercised. 
 (b)
Notwithstanding anything to the contrary: (i) shares tendered or withheld in payment of the exercise price of an Option shall not be added to the maximum share limitations described in Section 4(a) above; (ii) shares tendered or
withheld to satisfy the tax withholding obligation shall not be added to the maximum share limitations described in Section 4(a) above; and (iii) all shares covered by a SAR, to the extent that it is exercised and whether or not the Shares
are actually issued to the Participant upon exercise of the right, shall be considered issued or transferred pursuant to the Plan. 
 (c) Subject to adjustment as provided in Section 4(d) hereof and notwithstanding anything to the contrary contained herein, the maximum number of Shares (i) with respect to which Options or

  
 4 

 
SARs may be granted during a calendar year to any Eligible Person under this Plan shall be 1,000,000 Shares, and (ii) with respect to Performance Shares, Performance Units, Restricted Shares
or RSUs intended to qualify as performance-based compensation within the meaning of Section 162(m)(4)(C) of the Code shall be the equivalent of 800,000 Shares during a calendar year to any Eligible Person under this Plan. 

(d) In the event that the Committee shall determine that any dividend in Shares, recapitalization, Share split, reverse
split, reorganization, merger, consolidation, spin-off, combination, repurchase, or share exchange, or other similar corporate transaction or event, affects the Shares such that an adjustment is appropriate in order to prevent dilution or
enlargement of the rights of Eligible Persons under the Plan, then the Committee shall make such equitable changes or adjustments as it deems appropriate and, in such manner as it may deem equitable, adjust any or all of (i) the number and kind
of shares which may thereafter be issued under the Plan, (ii) the number and kind of shares, other securities or other consideration issued or issuable in respect of outstanding Awards, and (iii) the exercise price, grant price, or
purchase price relating to any Award; provided, however, in each case that, with respect to ISOs, such adjustment shall be made in accordance with Section 424(a) of the Code, unless the Committee determines otherwise. In addition, the Committee
is authorized to make adjustments in the terms and conditions of, and the criteria and performance objectives, if any, included in, Awards in recognition of unusual or non-recurring events (including, without limitation, events described in the
preceding sentence) affecting the Company or any Subsidiary or Affiliate or the financial statements of the Company or any Subsidiary or Affiliate, or in response to changes in applicable laws, regulations, or accounting principles; provided,
however, that, unless otherwise provided in an Award Agreement, there shall be no increase in the amount of compensation payable under the Award to the extent such an increase would cause the Award to lose its qualification as performance-based
compensation for purposes of Section 162(m)(4)(C) of the Code and the regulations thereunder. 
 (e) Any
Shares distributed pursuant to an Award may consist, in whole or in part, of authorized and unissued Shares or treasury Shares including Shares acquired by purchase in the open market or in private transactions. 

5. Specific Terms of Awards.  
 (a) General. Awards may be granted on the terms and conditions set forth in this Section 5. In addition, the Granting Authority may impose on any Award or the exercise thereof, at the date of
grant or thereafter (subject to Section 7(d)), such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Granting Authority shall determine, including terms regarding forfeiture of Awards or continued
exercisability of Awards in the event of termination of service by the Eligible Person. 
 (b) Options.
The Granting Authority is authorized to grant Options, which may be NQSOs or ISOs, to Eligible Persons on the following terms and conditions: 
 (i) Exercise Price. The exercise price per Share purchasable under an Option shall not be less than the Fair Market Value of the Shares on the date such Option is granted. 

(ii) Option Term. The term of each Option shall be a maximum of seven (7) years from the date of grant of the
Option. 
 (iii) Time and Method of Exercise. The Granting Authority shall determine at the date of grant
or thereafter the time or times at which an Option may be exercised in whole or in part (including, without limitation, upon achievement of performance criteria if deemed appropriate by the Granting Authority), the methods by which such exercise
price may be paid or deemed to be paid (including, without limitation, broker-assisted exercise arrangements), the form of such payment (including, without limitation, cash, Shares, or other property), and the methods by which Shares will be
delivered or deemed to be delivered to Eligible Persons. 

  
 5 

 (iv) ISOs. The terms of any ISO granted under the Plan shall comply
in all respects with the provisions of Section 422 of the Code, including but not limited to the requirement that the ISO shall be granted within ten years from the earlier of the date of adoption or stockholder approval of the Plan. ISOs may
only be granted to employees of the Company or a Subsidiary. 
 (c) SARs. The Granting Authority is
authorized to grant SARs (Share Appreciation Rights) to Eligible Persons on the following terms and conditions: 

(i) Right to Payment. A SAR shall confer on the Eligible Person to whom it is granted a right to receive with
respect to each Share subject thereto, upon exercise thereof, the excess of (1) the Fair Market Value of one Share on the date of exercise (or, if the Granting Authority shall so determine in the case of any such right, the Fair Market Value of
one Share at any time during a specified period before or after the date of exercise) over (2) the exercise price per Share of the SAR on the date of grant of the SAR, which shall not be less than Fair Market Value (which in the case of a SAR
granted in tandem with an Option, shall be equal to the exercise price of the underlying Option). 
 (ii) SAR
Term. The term of each SAR shall be a maximum of seven (7) years from the date of grant of the SAR. 

(iii) Other Terms. The Granting Authority shall determine, at the time of grant or thereafter, the time or times at
which a SAR may be exercised in whole or in part, the method of exercise, method of settlement, form of consideration payable in settlement, method by which Shares will be delivered or deemed to be delivered to Eligible Persons, whether or not a SAR
shall be in tandem with any other Award, and any other terms and conditions of any SAR. Unless the Granting Authority determines otherwise, a SAR (1) granted in tandem with an NQSO may be granted at the time of grant of the related NQSO or at
any time thereafter and (2) granted in tandem with an ISO may only be granted at the time of grant of the related ISO. 
 (d) Restricted Shares. The Granting Authority is authorized to grant Restricted Shares to Eligible Persons on the following terms and conditions: 

(i) Issuance and Restrictions. Restricted Shares shall be subject to such restrictions on transferability and other
restrictions, if any, as the Granting Authority may impose at the date of grant or thereafter, which restrictions may lapse separately or in combination at such times, under such circumstances (including, without limitation, upon achievement of
performance criteria if deemed appropriate by the Granting Authority), in such installments, or otherwise, as the Granting Authority may determine. Except to the extent restricted under the Award Agreement relating to the Restricted Shares, an
Eligible Person granted Restricted Shares shall have all of the rights of a stockholder including, without limitation, the right to vote Restricted Shares and the right to receive dividends thereon. If the lapse of restrictions is conditioned on the
achievement of performance criteria, the Granting Authority shall select the criterion or criteria from the list of criteria set forth in Section 5(f)(i). The Granting Authority must certify in writing prior to the lapse of restrictions
conditioned on achievement of performance criteria that such performance criteria were in fact satisfied. 
 (ii)
Forfeiture. Except as otherwise determined by the Granting Authority, at the date of grant or thereafter, upon termination of service during the applicable restriction period, Restricted Shares and any accrued but unpaid dividends or Dividend
Equivalents that are at that time subject to restrictions shall be forfeited; provided, however, that the Granting Authority may provide, by rule or regulation or in any Award Agreement, or may determine in any individual case, that restrictions or
forfeiture conditions relating to Restricted Shares will be waived in whole or in part in the event of terminations resulting from specified causes, and the Granting Authority may in other cases waive in whole or in part the forfeiture of Restricted
Shares. 

  
 6 

 (iii) Certificates for Shares. Restricted Shares granted under the
Plan may be evidenced in such manner as the Granting Authority shall determine. If certificates representing Restricted Shares are registered in the name of the Eligible Person, such certificates shall bear an appropriate legend referring to the
terms, conditions, and restrictions applicable to such Restricted Shares, and the Company shall retain physical possession of the certificate. 
 (iv) Dividends. Dividends paid on Restricted Shares shall be either paid at the dividend payment date, or deferred for payment to such date as determined by the Granting Authority, in cash or in
unrestricted Shares having a Fair Market Value equal to the amount of such dividends. Shares distributed in connection with a Share split or dividend in Shares, and other property distributed as a dividend, shall be subject to restrictions and a
risk of forfeiture to the same extent as the Restricted Shares with respect to which such Shares or other property has been distributed. 
 (e) RSUs. The Granting Authority is authorized to grant RSUs to Eligible Persons, subject to the following terms and conditions: 

(i) Award and Restrictions. Delivery of Shares or cash, as the case may be, will occur upon expiration of the
deferral period specified for RSUs by the Granting Authority (or, if permitted by the Granting Authority, as elected by the Eligible Person). In addition, RSUs shall be subject to such restrictions as the Granting Authority may impose, if any
(including, without limitation, the achievement of performance criteria if deemed appropriate by the Granting Authority), at the date of grant or thereafter, which restrictions may lapse at the expiration of the deferral period or at earlier or
later specified times, separately or in combination, in installments or otherwise, as the Granting Authority may determine. If the lapse of restrictions is conditioned on the achievement of performance criteria, the Granting Authority shall select
the criterion or criteria from the list of criteria set forth in Section 5(f)(i). The Granting Authority must certify in writing prior to the lapse of restrictions conditioned on the achievement of performance criteria that such performance
criteria were in fact satisfied. 
 (ii) Forfeiture. Except as otherwise determined by the Granting
Authority at date of grant or thereafter, upon termination of service (as determined under criteria established by the Granting Authority) during the applicable deferral period or portion thereof to which forfeiture conditions apply (as provided in
the Award Agreement evidencing the RSUs), or upon failure to satisfy any other conditions precedent to the delivery of Shares or cash to which such RSUs relate, all RSUs that are at that time subject to deferral or restriction shall be forfeited;
provided, however, that the Granting Authority may provide, by rule or regulation or in any Award Agreement, or may determine in any individual case, that restrictions or forfeiture conditions relating to RSUs will be waived in whole or in part in
the event of termination resulting from specified causes, and the Granting Authority may in other cases waive in whole or in part the forfeiture of RSUs. 
 (f) Performance Shares and Performance Units. The Granting Authority is authorized to grant Performance Shares or Performance Units or both to Eligible Persons on the following terms and
conditions: 
 (i) Performance Period. The Granting Authority shall determine a performance period (the
“Performance Period”) of one or more years and shall determine the performance objectives for grants of Performance Shares and Performance Units. Performance objectives may vary from Eligible Person to Eligible Person and shall be
based upon one or more of the following performance criteria as the Granting Authority may deem appropriate: share price; earnings per share; return to shareholders (including dividends); return on equity; revenues; sales; sales by category, brand,
territory or geography; unit growth; customer growth (including new customers and increased sales to existing customers); EBITDA or EBIT; operating income or operating profit; net income; gross margin; operating margin; return on capital or return
on invested capital; economic value added; economic profit; cash flows; cash flow from operations; market share; inventory levels; inventory days outstanding; consumption; size of 

  
 7 

 
line in total or by category or type; consumer and strategic investments; advertising, brand and product innovation; research and development; costs; managing commodity costs; capital
expenditures; working capital; net fixed assets; accounts receivable; days sales outstanding; period overhead; expenses; productivity; market capitalization; customer satisfaction; pro forma net income; return on equity; return on designated assets;
expenses; free cash flow; cash flow return on investment; net profit margin; cash conversion cycle; and service levels. The performance objectives may be determined by reference to the performance of the Company, or of a Subsidiary or Affiliate, or
of a division or unit of any of the foregoing. Performance Periods may overlap and Eligible Persons may participate simultaneously with respect to Performance Shares and Performance Units for which different Performance Periods are prescribed.

 (ii) Award Value. At the beginning of a Performance Period, the Granting Authority shall determine for
each Eligible Person or group of Eligible Persons with respect to that Performance Period the range of number of Shares, if any, in the case of Performance Shares, and the range of dollar values, if any, in the case of Performance Units, which may
be fixed or may vary in accordance with such performance or other criteria specified by the Granting Authority, which shall be paid to an Eligible Person as an Award if the relevant measure of Company performance for the Performance Period is met.
The Granting Authority must certify in writing that the applicable performance criteria were satisfied prior to payment under any Performance Shares or Performance Units. 

(iii) Significant Events. If during the course of a Performance Period there shall occur significant events as
determined by the Granting Authority which the Granting Authority expects to have a substantial effect on a performance objective during such period, the Granting Authority may revise such objective; provided, however, unless otherwise provided in
an Award Agreement, there shall not be an increase in the amount of compensation payable under the Award to the extent such an increase would cause the Award to lose its qualification as performance-based compensation for purposes of
Section 162(m)(4)(C) of the Code and the regulations thereunder. 
 (iv) Forfeiture. Except as
otherwise determined by the Granting Authority, at the date of grant or thereafter, upon termination of service during the applicable Performance Period, Performance Shares and Performance Units for which the Performance Period was prescribed shall
be forfeited; provided, however, that the Granting Authority may provide, by rule or regulation or in any Award Agreement, or may determine in an individual case, that restrictions or forfeiture conditions relating to Performance Shares and
Performance Units will be waived in whole or in part in the event of terminations resulting from specified causes, and the Granting Authority may in other cases waive in whole or in part the forfeiture of Performance Shares and Performance Units.

 (v) Payment. Each Performance Share or Performance Unit may be paid in whole Shares, or cash, or a
combination of Shares and cash either as a lump sum payment or in installments, all as the Granting Authority shall determine, at the time of grant of the Performance Share or Performance Unit or otherwise, commencing as soon as practicable after
the end of the relevant Performance Period. The Granting Authority must certify in writing prior to the payment of any Performance Share or Performance Unit that the performance objectives and any other material terms were in fact satisfied.

 (g) Dividend Equivalents. The Granting Authority is authorized to grant Dividend Equivalents to
Eligible Persons. The Granting Authority may provide, at the date of grant or thereafter, that Dividend Equivalents shall be paid or distributed when accrued or shall be deemed to have been reinvested in additional Shares, or other investment
vehicles as the Granting Authority may specify; provided, however, that Dividend Equivalents (other than freestanding Dividend Equivalents) shall be subject to all conditions and restrictions of the underlying Awards to which they relate.

  
 8 

 (h) Other Share-Based Awards. The Granting Authority is authorized,
subject to limitations under applicable law, to grant to Eligible Persons such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Shares, as deemed by the Granting
Authority to be consistent with the purposes of the Plan, including, without limitation, unrestricted shares awarded purely as a “bonus” and not subject to any restrictions or conditions, other rights convertible or exchangeable into
Shares, purchase rights for Shares, Awards with value and payment contingent upon performance of the Company or any other factors designated by the Granting Authority, and Awards valued by reference to the performance of specified Subsidiaries or
Affiliates. The Granting Authority shall determine the terms and conditions of such Awards at date of grant or thereafter. Shares delivered pursuant to an Award in the nature of a purchase right granted under this Section 5(h) shall be
purchased for such consideration, paid for at such times, by such methods, and in such forms, including, without limitation, cash, Shares, notes or other property, as the Granting Authority shall determine. Cash awards, as an element of or
supplement to any other Award under the Plan, shall also be authorized pursuant to this Section 5(h). 
 6. Certain Provisions
Applicable to Awards.  
 (a) Stand-Alone, Additional, and Tandem. Awards granted under the Plan may,
in the discretion of the Granting Authority, be granted to Eligible Persons either alone or in addition to, in tandem with, any other Award granted under the Plan or any award granted under any other plan or agreement of the Company, any Subsidiary
or Affiliate. 
 (b) Substitute Awards in Transactions. Nothing contained in the Plan shall be construed
to limit the right of the Granting Authority to grant Awards under the Plan in connection with the acquisition, whether by purchase, merger, consolidation or other transaction, of the business or assets of any corporation or other entity. Without
limiting the foregoing, the Granting Authority may grant Awards under the Plan to an employee or director of another corporation or other entity who becomes an Eligible Person by reason of any such transaction in substitution for awards previously
granted by such corporation or entity to such employee or director. The terms and conditions of the substitute Awards may vary from the terms and conditions that would otherwise be required by the Plan solely to the extent the Granting Authority
deems necessary for such purpose. 
 (c) Term of Awards. The term of each Award granted to an Eligible
Person shall be for such period as may be determined by the Granting Authority; provided, however, that in no event shall the term of any Option or a SAR exceed a period of seven years from the date of its grant (or such shorter period as may be
applicable under Section 422 of the Code). 
 (d) Repricing Prohibited. Subject to the anti-dilution
adjustment provisions contained in Section 4(d) hereof, without the prior approval of the Company’s stockholders, neither the Granting Authority nor the Board shall cause the amendment of an Option or SAR that would have the effect of
reducing the exercise price of an Option or SAR previously granted under the Plan, the cancellation or exchange of an Option or SAR for cash, other awards, or an Option or SAR with an exercise price that is less than the exercise price of the
original Option or SAR or otherwise approve any modification to an Option or SAR that would be treated as a “repricing” of such Option or SAR under any then applicable rules, regulations or listing requirements. 

(e) Form of Payment Under Awards. Subject to the terms of the Plan and any applicable Award Agreement, payments to
be made by the Company or a Subsidiary or Affiliate upon the grant, maturation, or exercise of an Award may be made in such forms as the Granting Authority shall determine at the date of grant or thereafter, including, without limitation, cash,
Shares, notes or other property, and may be made in a single payment or transfer, in installments, or on a deferred basis. The Granting Authority may make rules relating to installment or deferred payments with respect to Awards, including the rate
of interest to be credited with respect to such payments, subject to applicable law. 
 (f)
Nontransferability. Awards shall not be transferable by an Eligible Person except (i) by will or the laws of descent and distribution (except pursuant to a Beneficiary designation) or (ii) with

  
 9 

 
respect to NQSOs, by gift to a family member of the Participant to the extent permitted in the applicable Award Agreement and shall be exercisable during the lifetime of an Eligible Person only
by such Eligible Person or his guardian or legal representative unless it has been transferred by gift to a family member of the Participant, in which case it shall be exercisable only by such transferee. For the purpose of this provision, a
“family member” shall have the meaning set forth in the General Instructions to Form S-8 Registration Statement under the Securities Act of 1933, as amended. An Eligible Person’s rights under the Plan may not be pledged, mortgaged,
hypothecated, or otherwise encumbered, and shall not be subject to claims of the Eligible Person’s creditors. 
 (g) Repayment. If the Company is required to prepare an accounting restatement to correct an accounting error included in a report on Form 10-Q or 10-K caused by the misconduct of a Participant,
the Participant shall return to the Company, or forfeit if not paid, any Award arising out of the misconduct for or during such restated period. 
 (h) Noncompetition. The Granting Authority may, by way of the Award Agreements or otherwise, establish such other terms, conditions, restrictions and/or limitations, if any, of any Award, provided
they are not inconsistent with the Plan, including, without limitation, the requirement that the Participant not engage in competition with the Company. 
 7. General Provisions.  
 (a) Compliance with Legal and
Trading Requirements. The Plan, the granting and exercising of Awards thereunder, and the other obligations of the Company under the Plan and any Award Agreement, shall be subject to all applicable federal, state and foreign laws, rules and
regulations, and to such approvals by any regulatory or governmental agency as may be required. The Company, in its discretion, may postpone the issuance or delivery of Shares under any Award until completion of such stock exchange or market system
listing or registration or qualification of such Shares or other required action under any state or federal law, rule or regulation as the Company may consider appropriate, and may require any Participant to make such representations and furnish
such information as it may consider appropriate in connection with the issuance or delivery of Shares in compliance with applicable laws, rules and regulations. No provisions of the Plan shall be interpreted or construed to obligate the Company to
register any Shares under federal, state or foreign law. The Shares issued under the Plan may be subject to such other restrictions on transfer as determined by the Committee. 

(b) No Right to Continued Employment or Service. Neither the Plan nor any action taken thereunder shall be
construed as giving any employee, consultant, or director the right to be retained in the employ or service of the Company or any of its Subsidiaries or Affiliates, nor shall it interfere in any way with the right of the Company or any of its
Subsidiaries or Affiliates to terminate any employee’s, consultant’s or director’s employment or service at any time. 
 (c) Taxes. The Company or any Subsidiary or Affiliate is authorized to withhold from any Award granted, any payment relating to an Award under the Plan, including from a distribution of Shares, or
any payroll or other payment to an Eligible Person, amounts of withholding and other taxes due in connection with any transaction involving an Award, and to take such other action as the Committee may deem advisable to enable the Company and
Eligible Persons to satisfy obligations for the payment of withholding taxes and other tax obligations relating to any Award. This authority shall include authority to withhold or receive Shares or other property and to make cash payments in respect
thereof in satisfaction of an Eligible Person’s tax obligations; provided, however, that the amount of tax withholding to be satisfied by withholding Shares shall be limited to the minimum amount of taxes, including employment taxes, required
to be withheld under applicable Federal, state and local law. 
 (d) Amendment. The Board may at any time
and from time to time and in any respect, amend or modify the Plan and any Award granted under the Plan. The Board may seek the approval of any amendment or modification by the Company’s stockholders to the extent it deems necessary or
advisable in its discretion for purposes of compliance with Section 162(m) or Section 422 of the 

  
 10 

 
Code, the listing requirements of the applicable exchange or securities market or for any other purpose. Except as may be required to comply with Section 409A of the Code, no amendment or
modification of the Plan or any Award shall adversely affect any Award theretofore granted without the consent of the Eligible Person or the permitted transferee of the Award. 

(e) No Rights to Awards; No Stockholder Rights. No Eligible Person or employee shall have any claim to be granted
any Award under the Plan, and there is no obligation for uniformity of treatment of Eligible Persons and employees. No Award shall confer on any Eligible Person any of the rights of a stockholder of the Company unless and until Shares are duly
issued or transferred to the Eligible Person in accordance with the terms of the Award. 
 (f) Unfunded Status
of Awards. The Plan is intended to constitute an “unfunded” plan for incentive compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award shall give any
such Participant any rights that are greater than those of a general creditor of the Company; provided, however, that the Committee may authorize the creation of trusts or make other arrangements to meet the Company’s obligations under the Plan
to deliver cash, Shares, other Awards, or other property pursuant to any Award, which trusts or other arrangements shall be consistent with the “unfunded” status of the Plan unless the Committee otherwise determines with the consent of
each affected Participant. 
 (g) Nonexclusivity of the Plan. Neither the adoption of the Plan by the
Board nor its submission to the stockholders of the Company for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the
granting of options and other awards otherwise than under the Plan, and such arrangements may be either applicable generally or only in specific cases. 
 (h) Not Compensation for Benefit Plans. No Award payable under this Plan shall be deemed salary or compensation for the purpose of computing benefits under any benefit plan or other arrangement of
the Company for the benefit of its employees, consultants or directors unless the Company shall determine otherwise. 
 (i) No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to the Plan or any Award. The Committee shall determine whether cash, other Awards, or other property shall be
issued or paid in lieu of such fractional Shares or whether such fractional Shares or any rights thereto shall be forfeited or otherwise eliminated. 
 (j) Governing Law. The validity, construction, and effect of the Plan, any rules and regulations relating to the Plan, and any Award Agreement shall be determined in accordance with the laws of New
York without giving effect to principles of conflict of laws thereof. 
 (k) Effective Date; Plan
Termination. The Plan shall become effective as of December 1, 2005 (the “Effective Date”). Notwithstanding the foregoing, the adoption of this Plan is expressly conditioned upon the approval of the stockholders of the
Company. The Plan shall terminate as to future awards on the date which is ten (10) years after the Effective Date. 
 (l) Titles and Headings. The titles and headings of the sections in the Plan are for convenience of reference only. In the event of any conflict, the text of the Plan, rather than such titles or
headings, shall control. 
 (m) Section 409A. It is intended that the Plan and Awards issued
thereunder will comply with Section 409A of the Code (and any regulations and guidelines issued thereunder) to the extent the Awards are subject thereto, and the Plan and such Awards shall be interpreted on a basis consistent with such intent.
The Plan and any Award Agreements issued thereunder may be amended in any respect deemed by the Board or the Committee to be necessary in order to preserve compliance with Section 409A of the Code. 

  
 11EXHIBIT 4.1

 Exhibit 4.1 
 Execution Version 
 FORTY-FIRST SUPPLEMENTAL INDENTURE TO 

AMENDED AND RESTATED INDENTURE 
 FORTY-FIRST SUPPLEMENTAL INDENTURE dated November 18, 2011, among HOST HOTELS & RESORTS, L.P., a Delaware limited partnership (the “Company”), the Subsidiary Guarantors
signatory to this Forty-First Supplemental Indenture and THE BANK OF NEW YORK MELLON, as Successor Trustee (the “Trustee”) to the Amended and Restated Indenture, dated as of August 5, 1998, as amended and supplemented through
the date of this Forty-First Supplemental Indenture (the “Indenture”). 
 RECITALS 

WHEREAS, the Company, certain of the Subsidiary Guarantors and HSBC Bank USA (f/k/a Marine Midland Bank) executed and delivered the
Amended and Restated Indenture, dated as of August 5, 1998, amending and restating the form of Indenture previously filed as Exhibit 4.1 to the Registration Statement (No. 333-50729) filed with the Securities and Exchange Commission
(“Commission”) on Form S-3 by the Company, its Parents and certain of the Subsidiary Guarantors; 
 WHEREAS,
the Company and the Subsidiary Guarantors desire to create two series of Securities to be issued under the Indenture, as hereby supplemented, to be known as (i) the 6% Series Y Senior Notes due 2021 and Subsidiary Guarantees thereof of the
Subsidiary Guarantors (hereinafter, the “Series Y Notes”) and (ii) the 6% Series Z Senior Notes due 2021 and the Subsidiary Guarantees thereof of the Subsidiary Guarantors to be exchanged for the Series Y Notes (hereinafter,
the “Series Z Notes”); 
 WHEREAS, Section 9.1(e) of the Indenture provides that the Company, the
Subsidiary Guarantors and the Trustee may amend or supplement the Indenture without the written consent of the Holders of the outstanding Securities to provide for the issuance of and establish the form and terms and conditions of Securities of any
Series as permitted by the Indenture; 
 WHEREAS, all acts and things prescribed by the Indenture, by law and by the
organizational documents of the Company, the Subsidiary Guarantors and the Trustee necessary to make this Forty-First Supplemental Indenture a valid instrument legally binding on the Company, the Subsidiary Guarantors and the Trustee, in accordance
with its terms, have been duly done and performed; and 
 WHEREAS, all conditions precedent to amend or supplement the Indenture
have been met. 

 NOW, THEREFORE, to comply with the provisions of the Indenture, and in consideration of the
above premises, the Company, the Subsidiary Guarantors and the Trustee covenant and agree as follows: 
 ARTICLE 1

 Section 1.01 Nature of Supplemental Indenture. This Forty-First Supplemental Indenture supplements the
Indenture and does and shall be deemed to form a part of, and shall be construed in connection with and as part of, the Indenture for any and all purposes. 
 Section 1.02 Establishment of New Series. Pursuant to Section 2.2 of the Indenture, there is hereby established the Series Y Notes and the Series Z Notes (collectively, the “6%
Notes”) having the terms, in addition to those set forth in the Indenture and this Forty-First Supplemental Indenture, set forth in the form of 6% Notes, attached to this Forty-First Supplemental Indenture as Exhibit A, which is
incorporated herein as a part of this Forty-First Supplemental Indenture. In addition to the initial aggregate principal amount of Series Y Notes issued on the Series Issue Date, the Company may issue additional Series Y Notes (the
“Additional Notes”) under the Indenture and this Forty-First Supplemental Indenture in accordance with Section 2.2 of the Indenture and Section 4.7 of the Indenture, as supplemented by Section 5.01 below of this
Forty-First Supplemental Indenture. 
 Section 1.03 Redemption. (a) At any time, upon not less than 30 nor more
than 60 days’ notice, the Company may redeem the 6% Notes in whole or in part, at a Redemption Price equal to 100% of the principal amount thereof plus the Make-Whole Premium, together with accrued and unpaid interest thereon, if any, to the
applicable Redemption Date (subject to the right of Holders of record on the relevant Record Date to receive interest due on an Interest Payment Date that is on or prior to the applicable Redemption Date). 

(b) Notwithstanding the foregoing, within the period beginning 90 days prior to their Stated Maturity, upon not less than 30 nor more
than 60 days’ notice, the Company may redeem the 6% Notes in whole or in part, at a Redemption Price equal to 100% of the principal amount thereof, together with accrued and unpaid interest thereon, if any, to the applicable Redemption Date
(subject to the right of Holders of record on the relevant Record Date to receive interest due on an Interest Payment Date that is on or prior to the applicable Redemption Date). 

(c) The 6% Notes will not have the benefit of any sinking fund. 

(d) Notice of a redemption of the 6% Notes made pursuant to this Section 1.03 shall be given in the manner set forth in
Section 3.3 of the Indenture; provided, however, that any such notice need not set forth the Redemption Price but need only set forth the 

  
 2 

 
calculation thereof as described in subsection (a) of this Section 1.03. The Redemption Price, calculated as aforesaid, shall be set forth in an Officer’s Certificate delivered by
the Company to the Trustee no later than one Business Day prior to the Redemption Date. 
 (e) The Company is not prohibited
from acquiring the 6% Notes by means other than a redemption, whether pursuant to an issuer tender offer, in open market transactions, or otherwise, assuming such acquisition does not otherwise violate the terms of the Indenture. 

ARTICLE 2 

Section 2.01 “Subsidiary Guarantors” means, with respect to the 6% Notes, (A) the Subsidiary Guarantors listed
in Section 2.03 below and (B) any Future Subsidiary Guarantors that become Subsidiary Guarantors pursuant to the terms of the Indenture, but in each case excluding any Persons whose Guarantees have been released pursuant to the terms of
the Indenture. The provisions of Article 12 of the Indenture will be applicable to the 6% Notes. 
 Section 2.02 The second
sentence of the definition of “Subsidiary Guarantee” set forth in Section 1.1 of the Indenture shall read, for purposes of the 6% Notes, as follows: “Each Subsidiary Guarantee with respect to the 6% Notes will be a senior
obligation of the Subsidiary Guarantor and will be full and unconditional regardless of the enforceability of the 6% Notes, the Forty-First Supplemental Indenture or the Indenture.” 

Section 2.03 The following entities shall constitute the “Subsidiary Guarantors” with respect to the 6% Notes until such
time as their guarantees are released in accordance with the terms of the Indenture: 
  

	 	(1)	Airport Hotels Houston LLC 

  

	 	(2)	Airport Hotels LLC 

  

	 	(3)	Ameliatel LP 

  

	 	(4)	BRE/Swiss LP 

  

	 	(5)	Calgary Charlotte Holdings Company 

  

	 	(6)	Calgary Charlotte Partnership 

  

	 	(7)	Chesapeake Hotel Limited Partnership 

  

	 	(8)	Cincinnati Plaza LLC 

  

	 	(9)	City Center Hotel Limited Partnership 

  

	 	(10)	East Side Hotel Associates, L.P. 

  

	 	(11)	Harbor-Cal, S.D. 

  

	 	(12)	Harbor-Cal, S.D. Partner LLC 

  

	 	(13)	HHR 42 Associates GP LLC 

  

	 	(14)	HHR 42 Associates, L.P. 

  

	 	(15)	HHR Assets LLC 

  

	 	(16)	HHR Harbor Beach LLC 

  
 3 

	 	(17)	HHR Holdings Coöperatief U.A. 

  

	 	(18)	HHR Lauderdale Beach Limited Partnership 

  

	 	(19)	HHR Rio Holdings LLC 

  

	 	(20)	HHR Singer Island GP LLC 

  

	 	(21)	HHR Singer Island Limited Partnership 

  

	 	(22)	HMC Amelia II LLC 

  

	 	(23)	HMC AP Canada Company 

  

	 	(24)	HMC AP GP LLC 

  

	 	(25)	HMC AP LP 

  

	 	(26)	HMC Atlanta LLC 

  

	 	(27)	HMC Burlingame LLC 

  

	 	(28)	HMC Burlingame Hotel, L.P. 

  

	 	(29)	HMC Cambridge LP 

  

	 	(30)	HMC Capital Resources LP 

  

	 	(31)	HMC Charlotte (Calgary) Company 

  

	 	(32)	HMC Charlotte GP LLC 

  

	 	(33)	HMC Charlotte LP 

  

	 	(34)	HMC Chicago Lakefront LLC 

  

	 	(35)	HMC Chicago LLC 

  

	 	(36)	HMC Copley LP 

  

	 	(37)	HMC Desert LLC 

  

	 	(38)	HMC Diversified American Hotels, L.P. 

  

	 	(39)	HMC Diversified LLC 

  

	 	(40)	HMC East Side LLC 

  

	 	(41)	HMC Gateway LP 

  

	 	(42)	HMC Grace (Calgary) Company 

  

	 	(43)	HMC Grand LP 

  

	 	(44)	HMC Headhouse Funding LLC 

  

	 	(45)	HMC Host Restaurants LLC 

  

	 	(46)	HMC Hotel Development LP 

  

	 	(47)	HMC HT LP 

  

	 	(48)	HMC Kea Lani LP 

  

	 	(49)	HMC Lenox LP 

  

	 	(50)	HMC Manhattan Beach LLC 

  

	 	(51)	HMC Market Street LLC 

  

	 	(52)	HMC Maui LP 

  

	 	(53)	HMC McDowell LP 

  

	 	(54)	HMC Mexpark LLC 

  

	 	(55)	HMC NGL L.P. 

  

	 	(56)	HMC O’Hare Suites Ground LP 

  

	 	(57)	HMC OLS I LLC 

  

	 	(58)	HMC OLS I L.P. 

  

	 	(59)	HMC OLS II L.P. 

  

	 	(60)	HMC PLP LLC 

  

	 	(61)	HMC Polanco LLC 

  

	 	(62)	HMC Potomac LLC 

  
 4 

	 	(63)	HMC Properties I LLC 

  

	 	(64)	HMC Property Leasing LLC 

  

	 	(65)	HMC Reston LP 

  

	 	(66)	HMC Seattle LLC 

  

	 	(67)	HMC SFO LP 

  

	 	(68)	HMC Suites Limited Partnership 

  

	 	(69)	HMC Suites LLC 

  

	 	(70)	HMC Toronto Air Company 

  

	 	(71)	HMC Toronto Airport GP LLC 

  

	 	(72)	HMC Toronto Airport LP 

  

	 	(73)	HMC Toronto EC Company 

  

	 	(74)	HMC Toronto EC GP LLC 

  

	 	(75)	HMC Toronto EC LP 

  

	 	(76)	HMC/Interstate Manhattan Beach, L.P. 

  

	 	(77)	HMH General Partner Holdings LLC 

  

	 	(78)	HMH Marina LLC 

  

	 	(79)	HMH Pentagon LP 

  

	 	(80)	HMH Restaurants LP 

  

	 	(81)	HMH Rivers LLC 

  

	 	(82)	HMH Rivers, L.P. 

  

	 	(83)	HMH WTC LLC 

  

	 	(84)	Host Atlanta Perimeter Ground GP LLC 

  

	 	(85)	Host Atlanta Perimeter Ground LP 

  

	 	(86)	Host Cambridge GP LLC 

  

	 	(87)	Host Capitol Hill LLC 

  

	 	(88)	Host Cincinnati Hotel LLC 

  

	 	(89)	Host Cincinnati II LLC 

  

	 	(90)	Host City Center GP LLC 

  

	 	(91)	Host Copley GP LLC 

  

	 	(92)	Host Dallas Quorum Ground GP LLC 

  

	 	(93)	Host Dallas Quorum Ground LP 

  

	 	(94)	Host Fourth Avenue LLC 

  

	 	(95)	Host GH Atlanta GP LLC 

  

	 	(96)	Host Grand GP LLC 

  

	 	(97)	Host Indianapolis GP LLC 

  

	 	(98)	Host Indianapolis Hotel Member LLC 

  

	 	(99)	Host Indianapolis I LP 

  

	 	(100)	Host Indianapolis LP 

  

	 	(101)	Host Kea Lani GP LLC 

  

	 	(102)	Host Kierland GP LLC 

  

	 	(103)	Host Kierland LP 

  

	 	(104)	Host La Jolla LLC 

  

	 	(105)	Host Lenox Land GP LLC 

  

	 	(106)	Host Los Angeles GP LLC 

  

	 	(107)	Host Los Angeles LP 

  

	 	(108)	Host Maui GP LLC 

  
 5 

	 	(109)	Host McDowell GP LLC 

  

	 	(110)	Host Mission Hills Hotel LP 

  

	 	(111)	Host Mission Hills II LLC 

  

	 	(112)	Host Moscone GP LLC 

  

	 	(113)	Host Needham Hotel LP 

  

	 	(114)	Host Needham II LLC 

  

	 	(115)	Host NY Downtown GP LLC 

  

	 	(116)	Host of Boston, Ltd. 

  

	 	(117)	Host of Houston 1979 LP 

  

	 	(118)	Host of Houston Ltd. 

  

	 	(119)	Host O’Hare Suites Ground GP LLC 

  

	 	(120)	Host OP BN GP LLC 

  

	 	(121)	Host Park Ridge LLC 

  

	 	(122)	Host Pentagon GP LLC 

  

	 	(123)	Host Restaurants GP LLC 

  

	 	(124)	Host Reston GP LLC 

  

	 	(125)	Host San Diego Hotel LLC 

  

	 	(126)	Host San Diego LLC 

  

	 	(127)	Host SFO GP LLC 

  

	 	(128)	Host South Coast GP LLC 

  

	 	(129)	Host Swiss GP LLC 

  

	 	(130)	Host Tampa GP LLC 

  

	 	(131)	Host Times Square GP LLC 

  

	 	(132)	Host Times Square LP 

  

	 	(133)	Host WNY GP LLC 

  

	 	(134)	HST I LLC 

  

	 	(135)	HST LT LLC 

  

	 	(136)	IHP Holdings Partnership LP 

  

	 	(137)	Ivy Street Hopewell LLC 

  

	 	(138)	Ivy Street LLC 

  

	 	(139)	Market Street Host LLC 

  

	 	(140)	New Market Street LP 

  

	 	(141)	Pacific Gateway, Ltd. 

  

	 	(142)	Philadelphia Airport Hotel LLC 

  

	 	(143)	PM Financial LLC 

  

	 	(144)	PM Financial LP 

  

	 	(145)	Potomac Hotel Limited Partnership 

  

	 	(146)	Rockledge Hotel LLC 

  

	 	(147)	S.D. Hotels LLC 

  

	 	(148)	South Coast Host Hotel LP 

  

	 	(149)	Starlex LP 

  

	 	(150)	Times Square GP LLC 

  

	 	(151)	Wellsford-Park Ridge HMC Hotel Limited Partnership 

  

	 	(152)	YBG Associates LP 

 By execution
of this Forty-First Supplemental Indenture, each of the Subsidiary Guarantors makes and confirms the guarantees set forth in Section 12.1 of the Indenture and shall be deemed to have signed the notation of guarantee set forth on the Securities
as provided in Section 12.2 of the Indenture. 

  
 6 

 ARTICLE 3 
 Section 3.01 Subject to the further provisions of this Article 3 and Article 5 of this Forty-First Supplemental Indenture, the covenants set forth in Article 4 of the Indenture shall be applicable to
the 6% Notes. By virtue of the occurrence of the REIT Conversion, Section 4.15 of the Indenture (as replaced and superseded by Section 5.03 of this Forty-First Supplemental Indenture) is applicable, and Section 4.9 of the Indenture is
inapplicable, to the 6% Notes. 
 Section 3.02 The provisions of Sections 4.10 and 4.11 of the Indenture as supplemented by
Section 5.06 hereof and as amended and supplemented by Section 5.07 hereof, respectively, and Sections 5.01, 5.02, 5.03 and 5.04 hereof, together with Sections 4.7, 4.8, 4.15 and 4.12 of the Indenture, respectively, replaced and superseded
thereby (collectively, the “Suspended Covenants”) shall not be applicable to the 6% Notes, in the event and only for so long as, the 6% Notes are rated Investment Grade. 

Section 3.03 Notwithstanding the foregoing, in the event that one or both of the Rating Agencies withdraws its ratings or downgrades
the ratings assigned to the 6% Notes below the required Investment Grade, the foregoing covenants will be reinstated as of and from the date of such withdrawal or ratings downgrade (and as supplemented, amended or replaced and superseded as of the
date hereof). Calculations under the reinstated Section 5.03 of this Forty-First Supplemental Indenture will be made as if Section 5.03 of this Forty-First Supplemental Indenture had been in effect since the Issue Date except that no
Default or Event of Default will be deemed to have occurred solely by reason of a Restricted Payment made while that covenant was suspended. 
 Section 3.04 For avoidance of doubt, the definition of “GAAP” contained in the Indenture shall apply in all instances to the 6% Notes and the provisions of Section 1.4(c) of the
Indenture shall not apply in any instance to the 6% Notes. 
 Section 3.05 Section 9.1 of the Indenture is hereby
supplemented by the following clause solely with respect to the 6% Notes: 
 “(k) to conform the text of this Indenture or
the 6% Notes to any provision of the “Description of Series Y Senior Notes” section of the Company’s Offering Memorandum dated November 14, 2011, relating to the initial offering of the 6% Notes, to the extent that such provision
in that “Description of Series Y Senior Notes” was intended to be a verbatim recitation of a provision of this Indenture or of the 6% Notes.” 

  
 7 

 Section 3.06 Section 10.1 of the Indenture is hereby supplemented by adding the
following paragraph at the end of such Section, solely with respect to the 6% Notes: 
 “Notwithstanding the foregoing, the
Company will not be required to make a Change of Control Offer upon a Change of Control Triggering Event if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set
forth in this Indenture applicable to a Change of Control Offer made by the Company and purchases all 6% Notes properly tendered and not withdrawn under the Change of Control Offer, or (2) notice of redemption has been given pursuant to the
indenture in accordance with Section 3.3 of this Indenture and Section 1.03 of the Forty-First Supplemental Indenture unless and until there is a default in payment of the applicable Redemption Price.” 

Section 3.07 The second sentence of the penultimate paragraph of Section 10.1 of the Indenture, as supplemented by
Section 3.06 hereof, shall read, for purposes of the 6% Notes, as follows: 
 “The Paying Agent shall on the Change of
Control Payment Date or promptly thereafter deliver or cause to be delivered to Holders of Securities so accepted payment in an amount equal to the Change of Control Payment (together with accrued and unpaid interest) for such Securities (subject to
clause (b)(4) above), and the Trustee or its authenticating agent shall promptly authenticate and the Registrar shall deliver (or cause to be transferred by book entry) to such Holders a new Security equal in principal amount to any unpurchased
portion of the Security surrendered; provided, however, that each such new Security will be in a principal amount of $1,000 or an integral multiple thereof. Any Securities not so accepted shall be promptly mailed or delivered by the Company to the
Holder thereof. The Company will publicly announce the results of the Change of Control Offer on or as soon as practicable after the consummation thereof.” 
 ARTICLE 4 
 Section 4.01 For all purposes of this Forty-First
Supplemental Indenture, except as otherwise expressly provided or unless the context requires otherwise: 
 (a) A term defined
in the Indenture and not otherwise defined herein has the same meaning when used in this Forty-First Supplemental Indenture; and 

  
 8 

 (b) The following terms have the meanings given to them in this Section 4.01 and shall
have the meaning set forth below for the purposes of this Forty-First Supplemental Indenture and the Indenture solely with respect to the 6% Notes: 
 “6% Notes” means collectively, the Series Y Notes and, when and if issued as provided in the Registration Rights Agreement, the Exchange Notes. 

“Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global
Note, the rules and procedures of the Depository, Euroclear and Clearstream that apply to such transfer or exchange at the relevant time. 
 “Certificated Note” means a certificated 6% Note registered in the name of the Holder thereof and issued in accordance with Section 6.01 of this Forty-First Supplemental Indenture,
in the form of Exhibit A to this Forty-First Supplemental Indenture except that such Note shall not include the information called for by footnotes 2, 5 and 8 thereof. 
 “Change of Control” means: (i) any sale, transfer or other conveyance, whether direct or indirect, of all or substantially all of the assets of the Company or Host or HMC (for so
long as Host or HMC is a Parent of the Company immediately prior to such transaction or series of related transactions), on a consolidated basis, in one transaction or a series of related transactions, if, immediately after giving effect to such
transaction, any “person” or “group” (as such terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act, whether or not applicable) other than an Excluded Person is or becomes the “beneficial owner,”
directly or indirectly, of more than 50% of the total voting power in the aggregate normally entitled to vote in the election of directors, managers, or trustees, as applicable, of the transferee; (ii) any “person” or
“group” (as such terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act, whether or not applicable) other than an Excluded Person is or becomes the “beneficial owner,” directly or indirectly, of more than 50%
of the total voting power in the aggregate of all classes of Capital Stock of the Company (or Host or HMC for so long as Host or HMC is a Parent of the Company immediately prior to such transaction or series of related transactions) then outstanding
normally entitled to vote in elections of directors, managers or trustees, as applicable; (iii) during any period of 12 consecutive months after the Issue Date (for so long as Host or HMC is a Parent of the Company immediately prior to such
transaction or series of related transactions), Persons who at the beginning of such 12-month period constituted the Board of Host or HMC (together with any new Persons (i) whose election was approved by a vote of a majority of the Persons then
still comprising the Board who were either members of the Board at the beginning of such period or whose election, designation or nomination for election was previously so approved), and (ii) who are members of the Board (A) who were
nominated by a shareholder or group of shareholders of Host or HMC for election to such Board, and (B) whose nomination as a member of such Board was included in the definitive proxy statement of Host or HMC, as applicable, pursuant to
(I) Rule 14a-11 under the Exchange Act or any successor rule or similar requirement, or (II) a requirement in the bylaws of Host or HMC, to include in its proxy solicitation materials, a Person nominated for election to the Board by a
shareholder or group of shareholders), cease for any reason to constitute a majority of the Board 

  
 9 

 
of Host or HMC, as applicable, then in office; or (iv) HMC ceases to be a general partner of the Operating Partnership or ceases to control the Company; provided, however, that neither
(x) the pro rata distribution by Host to its shareholders of shares of the Company or shares of any of Host’s or HMC’s other Subsidiaries; nor (y) the REIT Conversion (or any element thereof), shall, in and of itself, constitute
a Change of Control for purposes of this definition. 
 “Clearstream” means Clearstream Banking S.A., or its
successors. 
 “Consolidated Coverage Ratio” of any Person on any Transaction Date means the ratio, on a pro
forma basis, of: 
 (a) the aggregate amount of Consolidated EBITDA of such Person attributable to continuing operations and
businesses (exclusive of amounts attributable to operations and businesses permanently discontinued or disposed of) for the Reference Period, 
 to: 
 (b) the aggregate Consolidated Interest Expense of such Person (exclusive
of amounts attributable to operations and businesses permanently discontinued or disposed of, but only to the extent that the obligations giving rise to such Consolidated Interest Expense would no longer be obligations contributing to such
Person’s Consolidated Interest Expense subsequent to the Transaction Date) during the Reference Period; 
 provided
that for purposes of such calculation: 
 (1) acquisitions of operations, businesses or other
income-producing assets (including any reinvestment of disposition proceeds in income-producing assets held as of and not disposed on the Transaction Date) which occurred during the Reference Period or subsequent to the Reference Period and on or
prior to the Transaction Date shall be assumed to have occurred on the first day of the Reference Period; 
 (2)
transactions giving rise to the need to calculate the Consolidated Coverage Ratio shall be assumed to have occurred on the first day of the Reference Period; 
 (3) the incurrence of any Indebtedness or issuance of any Disqualified Stock during the Reference Period or subsequent to the Reference Period and on or prior to the Transaction Date (and the application
of the proceeds therefrom to the extent used to refinance or retire other Indebtedness or invested in income-producing assets held as of and not disposed on the Transaction Date) shall be assumed to have occurred on the first day of such Reference
Period; 

  
 10 

 (4) the Consolidated Interest Expense of such Person attributable to
interest on any Indebtedness or dividends on any Disqualified Stock bearing a floating interest (or dividend) rate shall be computed on a pro forma basis as if the average rate in effect from the beginning of the Reference Period to the Transaction
Date had been the applicable rate for the entire period, unless such Person or any of its Subsidiaries is a party to an Interest Swap or Hedging Obligation (which shall remain in effect for the 12-month period immediately following the Transaction
Date) that has the effect of fixing the interest rate on the date of computation, in which case such rate (whether higher or lower) shall be used; and 
 (5) whenever pro forma effect is to be given to an acquisition of assets, the amount of income or earnings related thereto and the amount of Consolidated Interest Expense associated with any Indebtedness
Incurred in connection therewith, the pro forma calculation shall be determined in good faith by a responsible financial or accounting officer of the Company. 
 “Consolidated EBITDA” means, for any Person and for any period, the Consolidated Net Income of such Person for such period adjusted to add thereto (to the extent deducted from net
revenues in determining Consolidated Net Income), without duplication: (A) the sum of: (i) Consolidated Interest Expense; (ii) provisions for taxes based on income (to the extent of such Person’s proportionate interest therein);
(iii) depreciation and amortization expense (to the extent of such Person’s proportionate interest therein); (iv) any other noncash items reducing the Consolidated Net Income of such Person for such period (to the extent of such
Person’s proportionate interest therein); (v) any dividends or distributions during such period to such Person or a Consolidated Subsidiary (to the extent of such Person’s proportionate interest therein) of such Person from any other
Person which is not a Restricted Subsidiary of such Person or which is accounted for by such Person by the equity method of accounting (other than a Non-Consolidated Restricted Entity), to the extent that: (a) such dividends or distributions
are not included in the Consolidated Net Income of such Person for such period, and (b) the sum of such dividends and distributions, plus the aggregate amount of dividends or distributions from such other Person since the Issue Date that have
been included in Consolidated EBITDA pursuant to this clause (v), do not exceed the cumulative net income of such other Person attributable to the equity interests of the Person (or Restricted Subsidiary of the Person) whose Consolidated EBITDA is
being determined; (vi) any cash receipts of such Person or a Consolidated Subsidiary of such Person (to the extent of such Person’s proportionate interest therein) during such period that represent items included in Consolidated Net Income
of such Person for a prior period which were excluded from Consolidated EBITDA of such Person for such prior period by virtue of clause (B) of this definition; and (vii) any nonrecurring expenses incurred in connection with the REIT
Conversion, minus: (B) the sum of: (I) all non-cash items increasing the Consolidated Net Income of such Person or of a Consolidated Subsidiary of such Person (to the extent of such Person’s proportionate interest therein) for such
period; and (II) any 

  
 11 

 
cash expenditures of such Person or a Consolidated Subsidiary of such Person (to the extent of such Person’s proportionate interest therein) during such period to the extent such cash
expenditures (a) did not reduce the Consolidated Net Income of such Person or a Consolidated Subsidiary of such Person for such period and (b) were applied against reserves or accruals that constituted noncash items reducing the
Consolidated Net Income of such Person or a Consolidated Subsidiary of such Person (to the extent of such Person’s proportionate interest therein) when reserved or accrued; all as determined on a consolidated basis for such Person and its
Consolidated Subsidiaries (it being understood that the accounts of such Person’s Consolidated Subsidiaries shall be consolidated only to the extent of such Person’s proportionate interest therein). 

“Credit Facility” means the credit facility established pursuant to the Second Amended and Restated Credit Agreement,
dated as of May 25, 2007, among the Company, certain other Subsidiaries party thereto, the lenders party thereto, and Deutsche Bank AG New York Branch, as Administrative Agent, together with all other agreements, instruments and documents
executed or delivered pursuant thereto or in connection therewith, in each case as such agreements, instruments or documents may be amended, supplemented, extended, renewed, replaced or otherwise modified or restructured from time to time (including
by way of adding Subsidiaries of the Company as additional borrowers or guarantors thereof), whether by the same or any other agent, lender or group of lenders (including by means of sales of debt securities to institutional investors) but excluding
Indebtedness incurred under clause (xii) of paragraph (d) of Section 5.01 of this Forty-First Supplemental Indenture. 
 “Depository” means, with respect to the 6% Notes issuable or issued in whole or in part in global form, the Depository Trust Company (“DTC”), and any and all successors thereto
appointed as depository by the Company. 
 “Euroclear” means Euroclear Bank S.A./N.V., or its successor, as
operator of the Euroclear system. 
 “Exchange Notes” means the Series Z Notes, which will be issued in
exchange for Series Y Notes pursuant to an Exchange Offer. 
 “Exchange Offer” means that the offer that is to
be made by the Company and the Subsidiary Guarantors in accordance with the terms of the Registration Rights Agreement. 

“Exempted Affiliate Transaction” means each of (i) employee compensation arrangements approved by a majority of
independent (as to such transactions) members of the Board of the Company; (ii) payments of reasonable fees and expenses to the members of the Board; (iii) transactions solely between the Company and any of its Subsidiaries or solely among
Subsidiaries of the Company; (iv) Permitted Tax Payments; (v) Permitted Sharing Arrangements; (vi) Procurement Contracts; (vii) Operating Agreements; (viii) Restricted

  
 12 

 
Payments permitted under Section 5.03 of this Forty-First Supplemental Indenture; (ix) any and all elements of the REIT Conversion; and (x) any Affiliate Transaction involving
aggregate consideration of less than $1.0 million in any 12-month period. 
 “Existing Senior
Notes” means amounts outstanding from time to time of (i) the 6 3/8% Senior Notes due 2015; (ii) the 6 3/4% Senior Notes due 2016; (iii) the 6 7/8% Senior Notes due 2014; (iv) the 9% Senior Notes due 2017; (v) the 5 7/8% Senior Notes due 2019; (vi) the 6% Senior Notes due 2020; (vii) 3 1/4% Exchangeable Senior Debentures due 2024; (viii) the 2 5/8% Exchangeable Senior Debentures due 2027; and
(ix) the 2 1/2% Exchangeable Senior Debentures
due 2029, in each case, not in excess of amounts outstanding immediately following the Series Issue Date of the 6% Notes, less amounts retired from time to time. 

“Foreign Subsidiary” means any Restricted Subsidiary that is not organized under the laws of the United States of
America or any State thereof or the District of Columbia and any direct or indirect Subsidiary of such Restricted Subsidiary. 

“Global Note” means a 6% Note that includes the information referred to in footnotes 2, 5 and 8 to the form of 6% Note,
attached to this Forty-First Supplemental Indenture as Exhibit A, issued under the Indenture, that is deposited with or on behalf of and registered in the name of the Depository or a nominee of the Depository. 

“Global Note Legend” means the legend set forth in Section 6.01(g)(2) of this Forty-First Supplemental Indenture,
which is required to be placed on all Global Notes issued under the Indenture. 
 “HMH Properties” means HMH
Properties, Inc., a Delaware corporation, which was merged into the Operating Partnership on December 16, 1998. 

“Host REIT” means Host Hotels & Resorts, Inc., a Maryland corporation and the successor by merger to Host,
which is the sole general partner of the Operating Partnership following the REIT Conversion, and its successors and assigns. 

“Host REIT Merger” means the merger of Host with and into Host REIT, with Host REIT surviving the merger, which merger
occurred on December 29, 1998. 
 “Indirect Participant” means an entity that, with respect to DTC, clears
through or maintains a direct or indirect custodial relationship with a Participant. 
 “Initial Purchasers”
means: 
  

			
		 	J.P. Morgan Securities LLC,
		 	Goldman, Sachs & Co.,
		 	Merrill Lynch, Pierce, Fenner & Smith
		 	   Incorporated, and

		 	Wells Fargo Securities, LLC, as representatives of the several initial purchasers.

  
 13 

 “Institutional Accredited Investor” means an institution that is an
“accredited investor” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act, who is not also a QIB. 
 “Letter of Transmittal” means the letter of transmittal to be prepared by the Company and sent to all Holders of the Series Y Notes for use by such Holders in connection with the Exchange
Offer. 
 “Make-Whole Premium” means, with respect to any 6% Note at any Redemption Date, the excess, if any,
of (a) the present value of the sum of the principal amount and all remaining interest payments (not including any portion of such payments of interest accrued as of the Redemption Date), discounted on a semi-annual bond equivalent basis from
such maturity date to the Redemption Date at a per annum interest rate equal to the sum of the Treasury Yield (determined on the Business Day immediately preceding such Redemption Date) plus 50 basis points, over (b) the principal amount of the
6% Note being redeemed. 
 “Merger” means, the merger of HMH Properties with and into the Operating Partnership
with the Operating Partnership as the surviving entity, which merger occurred on December 16, 1998. 
 “Net Cash
Proceeds” means, (i) with respect to any Asset Sale other than the sale of Capital Stock of a Restricted Subsidiary, the proceeds of such Asset Sale in the form of cash or Cash Equivalents, including payments in respect of deferred
payment obligations (to the extent corresponding to the principal, but not interest, component thereof) when received in the form of cash or Cash Equivalents (except to the extent such obligations are financed or sold with recourse to the Company or
any of its Restricted Subsidiaries) and proceeds from the conversion of other property received when converted to cash or Cash Equivalents, net of: 
 (a) brokerage commissions and other fees and expenses (including fees and expenses of counsel and investment bankers) related to such Asset Sale; 

(b) provisions for all Taxes (including Taxes of Host REIT) actually paid or payable as a result of such Asset Sale by the Company and
its Restricted Subsidiaries, taken as a whole; 

  
 14 

 (c) payments made to repay Indebtedness (other than Indebtedness subordinated in right of
payment to the 6% Notes or a Subsidiary Guarantee) or any other obligations outstanding at the time of such Asset Sale that either (I) is secured by a Lien on the property or assets sold; or (II) is required to be paid as a result of such sale;

 (d) amounts reserved by the Company and its Restricted Subsidiaries against any liabilities associated with such Asset Sale,
including, without limitation, pension and other post employment benefit liabilities, liabilities related to environmental matters and liabilities under any indemnification obligations associated with such Asset Sale, all as determined on a
consolidated basis in conformity with GAAP; and 
 (e) any Permitted REIT Distributions related to such Asset Sale; 

(provided, however, that with respect to an Asset Sale by any Person other than the Company or a Wholly Owned Subsidiary, Net Cash Proceeds
shall be the above amount multiplied by the Company’s (direct or indirect) percentage ownership interest in such Person); and 
 (ii) with respect to any issuance or sale of Capital Stock, the proceeds of such issuance or sale in the form of cash or Cash Equivalents, including payments in respect of deferred payment obligations (to
the extent corresponding to the principal, but not interest, component thereof) when received in the form of cash or Cash Equivalents (except to the extent such obligations are financed or sold with recourse to the Company or any of its Restricted
Subsidiaries) and proceeds from the conversion of other property received when converted to cash or Cash Equivalents, net of attorney’s fees, accountant’s fees, underwriters’ or placement agents’ fees, discounts or commissions
and brokerage, consultant and other fees incurred in connection with such issuance or sale and net of tax paid or payable as a result thereof (provided, however, that with respect to an issuance or sale by any Person other than the Company or a
Wholly Owned Subsidiary, Net Cash Proceeds shall be the above amount multiplied by the Company’s (direct or indirect) percentage ownership interest in such Person). 
 “Offering Memorandum” means the Offering Memorandum of the Company and the Subsidiary Guarantors dated November 14, 2011 with respect to the 6% Notes. 

“Officer’s Certificate” means a certificate signed on behalf of the Company or Subsidiary Guarantor, as applicable,
by an officer of the Company or Subsidiary Guarantor, as applicable, who must be the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Company or Subsidiary Guarantor, as
applicable. 

  
 15 

 “Participant” means, with respect to the Depository, Euroclear or
Clearstream, a Person who has an account with the Depository, Euroclear or Clearstream, respectively (and, with respect to The Depository Trust Company, shall include Euroclear and Clearstream). 

“Paying Agent” means, until otherwise designated, the Trustee. 

“Permitted Investment” means any of the following: (i) an Investment in Cash Equivalents; (ii) Investments in
a Person substantially all of whose assets are of a type generally used in a Related Business (an “Acquired Person”) if, as a result of such Investments: (a) the Acquired Person immediately thereupon is or becomes a Restricted
Subsidiary of the Company; or (b) the Acquired Person immediately thereupon either (I) is merged or consolidated with or into the Company or any of its Restricted Subsidiaries and the surviving Person is the Company or a Restricted
Subsidiary of the Company or (II) transfers or conveys all or substantially all of its assets to, or is liquidated into, the Company or any of its Restricted Subsidiaries; (iii) an Investment in a Person, provided that: (A) such Person is
principally engaged in a Related Business; (B) the Company or one or more of its Restricted Subsidiaries participates in the management of such Person, as a general partner, member of such Person’s governing board or otherwise; and
(C) any such Investment shall not be a Permitted Investment if, after giving effect thereto, the aggregate amount of Net Investments outstanding made in reliance on this clause (iii) subsequent to the Issue Date would exceed 10% of Total
Assets; (iv) Permitted Sharing Arrangement Payments; (v) securities received in connection with an Asset Sale so long as such Asset Sale complied with the Indenture including Section 5.04 of this Forty-First Supplemental Indenture
(but, only to the extent the fair market value of such securities and all other non-cash and non-Cash Equivalent consideration received complies with clause (ii) of the first paragraph of Section 5.04 of this Forty-First Supplemental
Indenture); (vi) Investments in the Company or in Restricted Subsidiaries of the Company; (vii) Permitted Mortgage Investments; (viii) any Investments constituting part of the REIT Conversion; and (ix) any Investments in a
Non-Consolidated Entity, provided that (after giving effect to such Investment) the total assets (before depreciation and amortization) of all Non-Consolidated Entities attributable to the Company’s proportionate ownership interest therein,
plus an amount equal to the Net Investments outstanding made in reliance upon clause (iii) above, does not exceed 20% of the total assets (before depreciation and amortization) of the Company and its Consolidated Subsidiaries (to the extent of
the Company’s proportionate ownership interest therein). 
 “Permitted REIT Distributions” means, so long
as Host REIT believes in good faith after reasonable diligence that Host REIT qualifies as REIT under the Code, a declaration or payment of any dividend or the making of any distribution: (i) to Host REIT equal to the greater of: (a) the
amount estimated by Host REIT in good faith after reasonable diligence to be necessary to permit Host REIT to distribute to its shareholders with respect to any calendar year (whether made during such year or after the end thereof) 100% of the
“real estate investment trust taxable income” of Host REIT within the meaning of Code Section 857(b)(2), determined without regard to deductions for dividends paid and the exclusions set forth in Code Sections 857(b)(2)(C), (D),
(E) and (F) but including therein all net capital gains and net recognized built-in gains within the meaning of Treasury Regulations 1.337(d)-6 (whether or not such gains might 

  
 16 

 
otherwise be excluded or excludable therefrom); or (b) the amount that is estimated by Host REIT in good faith after reasonable diligence to be necessary either to maintain Host REIT’s
status as a REIT under the Code for any calendar year or to enable Host REIT to avoid the payment of any tax for any calendar year that could be avoided by reason of a distribution by Host REIT to its shareholders, with such distributions to be made
as and when determined by Host REIT, whether during or after the end of the relevant calendar year; in either the case of (a) or (b) if: (i) the aggregate principal amount of all outstanding Indebtedness (other than the QUIPs Debt) of
the Company and its Restricted Subsidiaries on a consolidated basis at such time is less than 80% of Adjusted Total Assets of the Company; and (II) no Default or Event of Default shall have occurred and be continuing; and (ii) to any Person in
respect of any Units, which distribution is required as a result of or a condition to the distribution or payment of such dividend or distribution to Host REIT. 
 “Private Placement Legend” means the legend set forth in Section 6.01(g)(1) of this Forty-First Supplemental Indenture to be placed on all Series Y Notes issued under the Indenture
except where otherwise permitted by the provisions of the Indenture. 
 “QIB” means a “qualified
institutional buyer” as defined in Rule 144A. 
 “Qualified Assets” means (i) Capital Stock of the
Company or any of its Subsidiaries or of other Subsidiaries of Host, Host REIT and each other Parent of the Company substantially all of whose sole assets are direct or indirect interests in Capital Stock of the Company; and (ii) other assets
related to corporate operations of Host, Host REIT and each other Parent of the Company which are de minimis in relation to those of Host, Host REIT and each other Parent of the Company and their Restricted Subsidiaries, taken as a whole.

 “Refinancing Indebtedness” means Indebtedness or Disqualified Stock: (i) issued in exchange for, or the
proceeds from the issuance and sale of which are used substantially concurrently to repay, redeem, defease, refund, refinance, discharge or otherwise retire for value, in whole or in part; or (ii) constituting an amendment, modification or
supplement to, or a deferral or renewal of ((i) and (ii) above are, collectively, a “Refinancing”), any Indebtedness or Disqualified Stock in a principal amount (or accreted value, if applicable) or, in the case of Disqualified
Stock, liquidation preference, not to exceed: (a) the principal amount (or accreted value, if applicable) or, in the case of Disqualified Stock, liquidation preference, of the Indebtedness or Disqualified Stock so refinanced; plus (b) all
accrued interest on the Indebtedness and the amount of all expenses and premiums incurred in connection therewith); provided that Refinancing Indebtedness (other than a revolving line of credit from a commercial lender or other Indebtedness
whose proceeds are used to repay a revolving line of credit from a commercial lender to the extent such revolving line of credit or other Indebtedness was not put in place for purposes of evading the limitations described in this definition) shall:
(x) not have an Average Life shorter than the Indebtedness or Disqualified Stock to be so refinanced at the time of such Refinancing; and (y) be subordinated in right of payment to the rights of Holders of the 6% Notes if the Indebtedness
or Disqualified Stock to be refinanced was so subordinated. 

  
 17 

 “Reference Period” with regard to any Person means the four full fiscal
quarters (for which internal financial statements are available) ended immediately preceding any date upon which any determination is to be made pursuant to the terms of the securities or the Indenture. 

“Registration Rights Agreement” means the Registration Rights Agreement, dated as of November 18, 2011, by and
among the Company, the Subsidiary Guarantors and the Initial Purchasers, as such agreement may be amended, modified or supplemented from time to time. 
 “Regulation S” means Regulation S promulgated under the Securities Act, as it may be amended from time to time, and any successor provision thereto. 

“Regulation S Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Note
Legend and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depository or its nominee, issued in a denomination equal to the outstanding principal amount of the notes sold in reliance on Rule 903 of
Regulation S. 
 “Regulation S Restricted Period” means the 40-day period beginning on the later of
(i) the day that the Initial Purchasers advise the Company and the Trustee in writing is the first day on which the Series Y Notes were offered to persons other than distributors (as defined in Regulation S) in reliance on Regulation S and
(ii) November 18, 2011. 
 “Restricted Certificated Note” means a Certificated Note that includes the
information called for in footnotes 6 and 7 (and not in footnotes 2, 5 and 8) to the form of 6% Note attached to this Forty-First Supplemental Indenture as Exhibit A, issued under the Indenture. 

“Restricted Global Note” means a Global Note that includes the information called for in footnotes 2, 5, 6, 7 and 8 to
the form of Note, attached to this Forty-First Supplemental Indenture as Exhibit A, issued under the Indenture; provided, that in no case shall an Exchange Note issued in accordance with the Indenture and the terms of the Registration Rights
Agreement be a Restricted Global Note. 
 “Restricted Payment” means, with respect to any Person (but without
duplication): 
 (1) the declaration or payment of any dividend or other distribution in respect of Capital Stock of such Person
or the Parent or any Restricted Subsidiary of such Person; 

  
 18 

 (2) any payment on account of the purchase, redemption or other acquisition or retirement
for value of Capital Stock of such Person or the Parent or any Restricted Subsidiary of such Person; 
 (3) other than with the
proceeds from the substantially concurrent sale of, or in exchange for, Refinancing Indebtedness, any purchase, redemption, or other acquisition or retirement for value of, any payment in respect of any amendment of the terms of or any defeasance
of, any Subordinated Indebtedness, directly or indirectly, by such Person or the Parent or a Restricted Subsidiary of such Person prior to the scheduled maturity, any scheduled repayment of principal, or scheduled sinking fund payment, as the case
may be, of such Indebtedness; 
 (4) any Restricted Investment by such Person; and 

(5) the payment to any Affiliate (other than the Company or its Restricted Subsidiaries) in respect of taxes owed by any consolidated
group of which both such Person or a Subsidiary of such Person and such Affiliate are members; 
 provided,
however, that the term “Restricted Payment” does not include: 
 (a) any dividend, distribution or other
payment on or with respect to Capital Stock of the Company to the extent payable solely in shares of Qualified Capital Stock; 

(b) any dividend, distribution or other payment to the Company, or to any of the Subsidiary Guarantors, by the Company or any of its
Restricted Subsidiaries; 
 (c) Permitted Tax Payments; 

(d) the declaration or payment of dividends or other distributions by any Restricted Subsidiary of the Company, provided such
distributions are made to the Company (or a Subsidiary of the Company, as applicable) on a pro rata basis (and in like form) with all dividends and distributions so made; 
 (e) the retirement of Units upon conversion of such Units to Capital Stock of Host REIT; 
 (f) any transactions comprising part of the REIT Conversion; 

  
 19 

 (g) any payments with respect to Disqualified Stock or Indebtedness at the stated time and
amounts pursuant to the original terms of the instruments governing such obligations; 
 (h) Permitted REIT Payments;

 (i) payments in accordance with the existing terms of the QUIPs; and 

(j) the declaration or payment of dividends or other distributions by any Restricted Subsidiary of the Company that qualifies as a REIT
not exceeding $10 million in any calendar year by all such Restricted Subsidiaries. 
 and provided, further, that any payments of
bona fide obligations of the Company or any Restricted Subsidiary shall not be deemed to be Restricted Payments solely by virtue of the fact of another Person’s co-obligation with respect thereto. 

“Rule 144A” means Rule 144A promulgated under the Securities Act, as it may be amended from time to time, and any
successor provision thereto. 
 “Rule 144A Global Note” means a Global Note issued in accordance with Rule
144A. 
 “Rule 144A Restricted Global Note” means a Restricted Global Note issued in accordance with Rule 144A.

 “Series Issue Date” means with respect to any series of Indebtedness issued under the Indenture, the date
any notes of such series are first issued. 
 “Shelf Registration Statement” shall have the meaning set forth
in the Registration Rights Agreement. 
 “SLC” means HMC Senior Communities, Inc., a Delaware corporation, and
its successor Crestline Capital Corporation, a Maryland corporation, and its successors and assigns. 
 “Transfer
Restricted Notes” means Series Y Notes that include the information called for by footnotes 6 and 7 to the form of 6% Note, attached to this Forty-First Supplemental Indenture as Exhibit A, issued under the Indenture. 

  
 20 

 “Treasury Yield” means the yield to maturity at the time of computation of
United States Treasury securities with a constant maturity (as compiled by and published in the most recent Federal Reserve Statistical Release H.15 (519) which has become publicly available at least two Business Days prior to the date fixed
for redemption (or, if such Statistical Release is no longer published, any publicly available source of similar data)) most nearly equal to the then remaining average life of the 6% Notes, provided that if the average life of the 6% Notes is not
equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Treasury yield shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average
yields of United States Treasury securities for which such yields are given, except that if the average life of the 6% Notes is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant
maturity of one year shall be used. 
 “Unrestricted Certificated Notes” means one or more Certificated Notes
that do not include and are not required to include the information called for by footnotes 6 and 7 to the form Series Y Note, attached to this Forty-First Supplemental Indenture as Exhibit A, issued under the Indenture. 

“Unrestricted Global Note” means a permanent Global Note in the form of Exhibit A attached to this Forty-First
Supplemental Indenture that includes the information referred to in footnotes 2, 5 and 8 thereof, and that is deposited with or on behalf of and registered in the name of the Depository. 

ARTICLE 5 

Section 5.01 Limitation on Incurrences of Indebtedness and Issuance of Disqualified Stock. For purposes of 6% Notes,
Section 4.7 of the Indenture is hereby replaced and superseded by the following covenant and the following covenant shall apply to the 6% Notes: 
 (a) Except as set forth below, neither the Company, the Subsidiary Guarantors nor any of its or their respective Restricted Subsidiaries will, directly or indirectly, Incur any Indebtedness (including
Acquired Indebtedness) or issue any Disqualified Stock. Notwithstanding the foregoing sentence, if, on the date of any such Incurrence or issuance, after giving effect to, on a pro forma basis, such Incurrence or issuance and the receipt and
application of the proceeds therefrom: 
 (1) the aggregate amount of all outstanding Indebtedness (other than
the QUIPs Debt) and the Disqualified Stock of the Company and the Subsidiary Guarantors and its or their respective Restricted Subsidiaries (including amounts of Refinancing Indebtedness outstanding pursuant to paragraph (d)(3) hereof or otherwise),
determined on a consolidated basis (it being understood that the amounts of Indebtedness 

  
 21 

 
and Disqualified Stock of Restricted Subsidiaries shall be consolidated with that of the Company only to the extent of the Company’s proportionate interest in such Restricted Subsidiaries),
without duplication, is less than or equal to 65% of the Adjusted Total Assets of the Company; and 
 (2) the
Consolidated Coverage Ratio of the Company would be greater than or equal to 2.0 to 1.0, the Company and its Restricted Subsidiaries may Incur such Indebtedness or issue such Disqualified Stock. 

(b) In addition to the foregoing limitations set forth in (a) above, except as set forth below, the Company, the Subsidiary
Guarantors and its and their respective Restricted Subsidiaries will not Incur any Secured Indebtedness or Subsidiary Indebtedness. Notwithstanding the foregoing sentence, if, immediately after giving effect to the Incurrence of such additional
Secured Indebtedness and/or Subsidiary Indebtedness and the application of the proceeds thereof, the aggregate amount of all outstanding Secured Indebtedness and Subsidiary Indebtedness of the Company, the Subsidiary Guarantors and its and their
respective Restricted Subsidiaries (including amounts of Refinancing Indebtedness outstanding pursuant to paragraph (d)(3) hereof or otherwise), determined on a consolidated basis (it being understood that the amounts of Secured Indebtedness and
Subsidiary Indebtedness of Restricted Subsidiaries shall be consolidated with that of the Company only to the extent of the Company’s proportionate interest in such Restricted Subsidiaries), without duplication, is less than or equal to 45% of
Adjusted Total Assets of the Company, the Company and its Restricted Subsidiaries may Incur such Secured Indebtedness and/or Subsidiary Indebtedness. 
 (c) In addition to the limitations set forth in (a) and (b) above, the Company, the Subsidiary Guarantors and its and their respective Restricted Subsidiaries will maintain at all times Total
Unencumbered Assets of not less than 125% of the aggregate outstanding amount of the Unsecured Indebtedness (other than the QUIPs Debt) (including amounts of Refinancing Indebtedness outstanding pursuant to paragraph (d)(3) hereof or otherwise)
determined on a consolidated basis (it being understood that the Unsecured Indebtedness of the Restricted Subsidiaries shall be consolidated with that of the Company only to the extent of the Company’s proportionate interest in such Restricted
Subsidiaries). 
 (d) Notwithstanding paragraphs (a) or (b), the Company, the Subsidiary Guarantors and its and their
respective Restricted Subsidiaries (except as specified below) may Incur or issue each and all of the following: 
 (1) Indebtedness outstanding (including Indebtedness issued to replace, refinance or refund such Indebtedness) under the Credit Facility at any time in an aggregate principal amount not to exceed $1.5
billion, less any amount repaid subsequent to the Series Issue Date as provided under Section 5.04 of the Forty-First Supplemental Indenture (including that, in the case of a revolver or similar arrangement, such commitment is permanently
reduced by such amount); 

  
 22 

 (2) Indebtedness or Disqualified Stock owed: 

(A) to the Company; or 
 (B) to any Subsidiary Guarantor; provided that any event which results in any Restricted Subsidiary holding such Indebtedness or Disqualified Stock ceasing to be a Restricted Subsidiary or any subsequent
transfer of such Indebtedness or Disqualified Stock (other than to the Company or a Subsidiary Guarantor) shall be deemed, in each case, to constitute an Incurrence of such Indebtedness or issuance of Disqualified Stock not permitted by this clause
(2); 
 (3) Refinancing Indebtedness with respect to outstanding Indebtedness (other than Indebtedness Incurred
under clause (1), (2), (4), (6), (8), (12) or (14) of this paragraph) and any refinancings thereof; 

(4) Indebtedness: 
 (A) in respect of performance, surety or appeal bonds Incurred in the ordinary course of business; 
 (B) under Currency Agreements and Interest Swap and Hedging Obligations; provided that such agreements: 
 (a) are designed solely to protect the Company, the Subsidiary Guarantors or any of its or their respective Restricted Subsidiaries against fluctuations in foreign currency exchange rates or interest
rates; and 
 (b) do not increase the Indebtedness of the obligor outstanding, at any time other than as a result
of fluctuations in foreign currency exchange rates or interest rates or by reason of fees, indemnities and compensation payable thereunder; or 
 (C) arising from agreements providing for indemnification, adjustment of purchase price or similar obligations, or from Guarantees or letters of credit, surety bonds or performance bonds securing any
obligations of the Company, the Subsidiary Guarantors or any of its or their Restricted Subsidiaries pursuant to such agreements, in any case Incurred in connection with the disposition of any business, assets or Restricted Subsidiary (other than
Guarantees of Indebtedness Incurred by any Person acquiring all or any portion of such business, assets or Restricted Subsidiary for the purpose of 

  
 23 

 
financing such acquisition), in an amount not to exceed the gross proceeds actually received by the Company, the Subsidiary Guarantors and its and their respective Restricted Subsidiaries on a
consolidated basis in connection with such disposition; 
 (5) Indebtedness of the Company, to the extent the
net proceeds thereof are promptly: 
 (A) used to purchase all of the notes tendered in a Change of Control
Offer made as a result of a Change of Control; or 
 (B) deposited to defease the notes as described under
Sections 8.3 and 8.4 of the Indenture; 
 (6) Guarantees of the notes and Guarantees of Indebtedness of the
Company or any of the Subsidiary Guarantors by any of its or their respective Restricted Subsidiaries; provided the guarantee of such Indebtedness is permitted by and made in accordance with the terms of the Indenture at the time of the
incurrence of such underlying Indebtedness or at the time such guarantor becomes a Restricted Subsidiary; 
 (7)
Indebtedness evidenced by the Securities and the Guarantees thereof and represented by the indenture up to the amounts issued pursuant thereto as of the Issue Date; 

(8) the QUIPs Debt; 
 (9) Limited Partner Notes; 
 (10) Indebtedness Incurred pursuant
to the Blackstone Acquisition and any Indebtedness of Host, its Subsidiaries, a Public Partnership or a Private Partnership incurred in connection with the REIT Conversion; 

(11) Acquired Indebtedness assumed in connection with an Asset Acquisition if, on the date of any such Incurrence, the
Consolidated Coverage Ratio of the Person or asset or assets so acquired would be greater than or equal to 2.0 to 1.0; provided however, that an acquisition within the meaning of clause (ii) of the definition of “Asset
Acquisition,” will be deemed to be an acquisition of a Person for purposes of determining such Consolidated Coverage Ratio; 

  
 24 

 (12) Secured Indebtedness in an aggregate principal amount (or accreted
value, if applicable) at any time outstanding, not to exceed $400.0 million, provided, however, that (A) the Incurrence of such Secured Indebtedness is otherwise permitted pursuant to paragraph (b) above and (B) the
proceeds of such Secured Indebtedness are used substantially concurrently to repay and permanently reduce Indebtedness outstanding under the Credit Facility (including that, in the case of a revolver or similar arrangement, such commitment is
permanently reduced by such amount); 
 (13) Indebtedness Incurred by Foreign Subsidiaries in an aggregate
principal amount (or accreted value, as applicable) at any time outstanding, not to exceed $300 million; and 

(14) additional Indebtedness in an aggregate principal amount (or accreted value, if applicable) at any time outstanding,
not to exceed $150.0 million. 
 (e) For purposes of determining any particular amount of Indebtedness under this
Section 5.01 of this Forty-First Supplemental Indenture: 
 (1) Indebtedness Incurred under the Credit
Facility on or prior to the Issue Date shall be treated as Incurred pursuant to clause (1) of subsection (d) of this Section 5.01 of this Forty-First Supplemental Indenture; and 

(2) Guarantees, Liens or obligations with respect to letters of credit supporting Indebtedness otherwise included in the
determination of such particular amount shall not be included as additional Indebtedness. 
 (f) For purposes of determining
compliance with this covenant: 
 (1) in the event that an item of Indebtedness (or any portion thereof) meets
the criteria of more than one of the types of Indebtedness described in the above clauses, the Company, in its sole discretion, shall classify such item of Indebtedness (or any portion thereof) at the time of incurrence and will only be required to
include the amount and type of such Indebtedness in one of the above clauses; 
 (2) the Company will be
entitled at the time of Incurrence to divide and classify an item of Indebtedness in more than one of the types of Indebtedness described above, and with respect to any Indebtedness Incurred pursuant to any specific clause under subsection
(d) of this Section 5.01 of this Forty-First Supplemental Indenture, the Company may, after such Indebtedness is Incurred reclassify all or a portion of such Indebtedness under a different clause of subsection (d) of this Section
5.01; and 

  
 25 

 (3) Indebtedness under clauses (13) and (14) of subsection
(d) of this Section 5.01 of this Forty-First Supplemental Indenture shall be reclassified automatically as having been incurred pursuant to subsection (a) of this Section 5.01 if at any date after such Indebtedness is Incurred,
such Indebtedness could have been Incurred under subsection (a) of this Section 5.01, but only to the extent such Indebtedness could have been so Incurred. 
 Indebtedness or Disqualified Stock of any Person that is not a Restricted Subsidiary of the Company, which Indebtedness or Disqualified Stock is outstanding at the time such Person becomes a Restricted
Subsidiary (including by designation) of the Company or is merged with or into or consolidated with the Company or one of its Restricted Subsidiaries, shall be deemed to have been Incurred or issued at the time such Person becomes a Restricted
Subsidiary of the Company or is merged with or into or consolidated with the Company, or one of its Restricted Subsidiaries, and Indebtedness or Disqualified Stock which is assumed at the time of the acquisition of any asset shall be deemed to have
been Incurred or issued at the time of such acquisition. 
 Notwithstanding any other provision of this covenant, the maximum
amount of Indebtedness the Company and the Subsidiary Guarantors may Incur pursuant to this covenant shall not be deemed to be exceeded solely as a result of fluctuations in the exchange rate of currencies. 

Section 5.02 Limitation on Liens. For purposes of 6% Notes, Section 4.8 of the Indenture is hereby replaced and
superseded by the following covenant and the following covenant shall apply to the 6% Notes: 
 Neither the Company, the
Subsidiary Guarantors, nor any Restricted Subsidiary shall secure any Indebtedness under the Credit Facility or the Existing Senior Notes by a Lien or suffer to exist any Lien on their respective properties or assets securing Indebtedness under the
Credit Facility or the Existing Senior Notes unless effective provision is made to secure the 6% Notes equally and ratably with the Lien securing such Indebtedness for so long as Indebtedness under the Credit Facility or Existing Senior Notes is
secured by such Lien. 
 Section 5.03 Limitation on Restricted Payments. For purposes of 6% Notes,
Section 4.15 of the Indenture is hereby replaced and superseded by the following covenant and the following covenant shall apply to the 6% Notes: 
 (a) The Company and the Subsidiary Guarantors will not, and the Company and the Subsidiary Guarantors will not permit any of its or their respective Restricted Subsidiaries to, directly or indirectly,
make a Restricted Payment if, at the time of, and after giving effect to, the proposed Restricted Payment: 

(1) a Default or Event of Default shall have occurred and be continuing; 

  
 26 

 (2) the Company could not Incur at least $1.00 of Indebtedness under
paragraph (a) of Section 5.01 of this Forty-First Supplemental Indenture; or 
 (3) the aggregate
amount of all Restricted Payments (the amount, if other than in cash, the fair market value of any property used therefor) made on and after the Issue Date shall exceed the sum of, without duplication: 

(A) 95% of the aggregate amount of the Funds From Operations (or, if the Funds From Operations is a loss, minus 100% of
the amount of such loss) accrued on a cumulative basis during the period (taken as one accounting period) beginning on the first day of the fiscal quarter in which the Issue Date occurs and ending on the last day of the last fiscal quarter preceding
the Transaction Date; 
 (B) 100% of the aggregate Net Cash Proceeds received by the Company after the Issue
Date from the issuance and sale permitted by the Indenture of its Capital Stock (other than Disqualified Stock) to a Person who is not a Subsidiary of the Company including from an issuance to a Person who is not a Subsidiary of the Company of any
options, warrants or other rights to acquire the Capital Stock of the Company (in each case, exclusive of any Disqualified Stock or any options, warrants or other rights that are redeemable at the option of the holder, or are required to be
redeemed, prior to the Stated Maturity of the Securities), and the amount of any Indebtedness (other than Indebtedness subordinate in right of payment to the 6% Notes) of the Company that was issued and sold for cash upon the conversion of such
Indebtedness after the Issue Date into Capital Stock (other than Disqualified Stock) of the Company, or otherwise received as Capital Contributions; 
 (C) an amount equal to the net reduction in Investments (other than Permitted Investments) in any Person other than a Restricted Subsidiary after the Issue Date resulting from payments of interest on
Indebtedness, dividends, repayments of loans or advances, or other transfers of assets, in each case to the Company or any of its Restricted Subsidiaries or from the Net Cash Proceeds from the sale of any such Investment (except, in each case,

  
 27 

 
to the extent any such payment or proceeds are included in the calculation of Funds From Operations) or from designations of Unrestricted Subsidiaries or Non-Consolidated Entities as Restricted
Subsidiaries (valued in each case as provided in the definition of “Investments”); 
 (D) the
fair market value of noncash tangible assets or Capital Stock (other than that of the Company or its Parent) representing interests in Persons acquired after the Issue Date in exchange for an issuance of Qualified Capital Stock; and 

(E) the fair market value of noncash tangible assets or Capital Stock (other than that of the Company or its Parent)
representing interests in Persons contributed as a Capital Contribution to the Company after the Issue Date. 
 Notwithstanding the foregoing,
(i) for purposes of determining whether the Company, the Subsidiary Guarantors and its and their respective Restricted Subsidiaries may make a Restricted Payment representing the declaration or payment of any dividend or other distribution in
respect of Capital Stock of such Person or the Parent or any Restricted Subsidiary of such Person constituting Preferred Stock, the Consolidated Coverage Ratio of the Company contemplated by clause (2) of Section 5.01(a), shall be greater
than or equal to 1.7 to 1 and (ii) the Company may make Permitted REIT Distributions. 
 Section 5.04 Limitation
on Asset Sales. For purposes of 6% Notes, Section 4.12 of the Indenture is hereby replaced and superseded by the following covenant and the following covenant shall apply to the 6% Notes: 

The Company and the Subsidiary Guarantors will not, and the Company and the Subsidiary Guarantors will not permit any of its or their
respective Restricted Subsidiaries to, consummate any Asset Sale, unless: 
 (1) the consideration received by
the Company, the Subsidiary Guarantor or such Restricted Subsidiary is at least equal to the fair market value of the assets sold or disposed of as determined by the Board of the Company, in good faith; and 

(2) at least 75% of the consideration received consists of cash, Cash Equivalents and/or real estate assets;
provided that, with respect to the sale of one or more real estate properties, up to 75% of the consideration may consist of indebtedness of the purchaser of such real estate properties so long as such Indebtedness is secured by a first
priority Lien on the real estate property or properties sold; and provided that, for purposes of this clause (ii) the amount of: 
 (A) any Indebtedness (other than Indebtedness subordinated in right of payment to the 6% Notes or a Subsidiary Guarantee) that is required to be repaid or assumed (and is either repaid or assumed by the
transferee of the related assets) by virtue of such Asset Sale and which is secured by a Lien on the property or assets sold; and 

  
 28 

 (B) any securities or other obligations received by the Company, any
Subsidiary Guarantor or any such Restricted Subsidiary from such transferee that are immediately converted by the Company, the Subsidiary Guarantor or such Restricted Subsidiary into cash (or as to which the Company, any Subsidiary Guarantor or such
Restricted Subsidiary has received at or prior to the consummation of the Asset Sale a commitment (which may be subject to customary conditions) from a nationally recognized investment, merchant or commercial bank to convert into cash within 90 days
of the consummation of such Asset Sale and which are thereafter actually converted into cash within such 90-day period) will be deemed to be cash. 
 In the event that the aggregate Net Cash Proceeds received by the Company, any Subsidiary Guarantors or such Restricted Subsidiaries from one or more Asset Sales occurring on or after the Closing Date in
any period of 12 consecutive months (such 12 consecutive month period, an “Asset Sale Period”) exceed 5% of Total Assets (determined as of the date closest to the commencement of such Asset Sale Period for which a consolidated balance
sheet of the Company and its Restricted Subsidiaries has been filed with the Securities and Exchange Commission or provided to the trustee pursuant to Section 4.2 of the Indenture), then during the period commencing 180 days prior to the
commencement of such Asset Sale Period and running through the date that is 12 months after the date Net Cash Proceeds so received exceeded 5% of Total Assets, an amount equal to the Net Cash Proceeds received during such Asset Sale Period must have
been or must be: 
 (1) invested in or committed to be invested in, pursuant to a binding commitment subject
only to reasonable, customary closing conditions, and providing an amount equal to the Net Cash Proceeds are, in fact, so invested, within an additional 180 days, (x) fixed assets and property (other than notes, bonds, obligations and
securities) which in the good faith reasonable judgment of the Board of the Company will immediately constitute or be part of a Related Business of the Company, Subsidiary Guarantor or such Restricted Subsidiary (if it continues to be a Restricted
Subsidiary) immediately following such transaction, (y) Permitted Mortgage Investments, or (z) a controlling interest in the Capital Stock of an entity engaged in a Related Business; provided that concurrently with an Investment specified
in clause (z), such entity becomes a Restricted Subsidiary; or 
 (2) used to repay and permanently reduce
Indebtedness outstanding under the Credit Facility (including that, in the case of a revolver or similar arrangement, such commitment is permanently reduced by such amount). 

  
 29 

 Pending the application of any such Net Cash Proceeds as described above, the Company may invest such Net
Cash Proceeds in any manner that is not prohibited by the Indenture. Any Net Cash Proceeds from Asset Sales that are not or were not applied or invested as provided in the first sentence of this paragraph (including any Net Cash Proceeds which were
committed to be invested as provided in such sentence but which are not in fact invested within the time period provided) will be deemed to constitute “Excess Proceeds.” 

Within 30 days following each date on which the aggregate amount of Excess Proceeds exceeds $25 million, the Company will make an offer
to purchase from the Holders of the 6% Notes and holders of any of other Indebtedness of the Company ranking pari passu with the Securities from time to time outstanding with similar provisions requiring the Company to make an offer to purchase or
redeem such Indebtedness with the proceeds from such Asset Sale, on a pro rata basis, an aggregate principal amount (or accreted value, as applicable) of Securities and such other Indebtedness equal to the Excess Proceeds on such date, at a purchase
price in cash equal to 100% of the principal amount (or accreted value, as applicable) of the Securities and such other Indebtedness, plus, in each case, accrued interest (if any) to the Payment Date. To the extent that the aggregate amount of
Securities and other senior Indebtedness tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Company may use any remaining Excess Proceeds for general corporate purposes. If the aggregate principal amount (or accreted
value, as applicable) of Securities and such other Indebtedness tendered pursuant to an Asset Sale Offer exceeds the amount of Excess Proceeds, the Securities to be purchased and such other Indebtedness shall be selected on a pro rata basis.
Upon completion of such Offer to Purchase, the amount of Excess Proceeds shall be reset at zero. 
 Notwithstanding, and without
complying with, any of the foregoing provisions: 
 (1) the Company, the Subsidiary Guarantors and its and their
respective Restricted Subsidiaries may, in the ordinary course of business, convey, sell, lease, transfer, assign or otherwise dispose of inventory acquired and held for resale in the ordinary course of business; 

(2) the Company, the Subsidiary Guarantors and its and their respective Restricted Subsidiaries may convey, sell, lease,
transfer, assign or otherwise dispose of assets pursuant to and in accordance with Article 5 and Section 4.13 of the Indenture; 
 (3) the Company, the Subsidiary Guarantors and its and their respective Restricted Subsidiaries may sell or dispose of damaged, worn out or other obsolete property in the ordinary course of business so
long as such property is no longer necessary for the proper conduct of the business of the Company, the Subsidiary Guarantor or such Restricted Subsidiary, as applicable; and 

  
 30 

 (4) the Company, the Subsidiary Guarantors its and their respective
Restricted Subsidiaries may exchange assets held by the Company, the Subsidiary Guarantor or a Restricted Subsidiary for one or more real estate properties and/or one or more Related Businesses of any Person or entity owning one or more real estate
properties and/or one or more Related Businesses; provided that the Board of the Company has determined in good faith that the fair market value of the assets received by the Company are approximately equal to the fair market value of the
assets exchanged by the Company. 
 No transaction listed in clauses (1) through (4) inclusive shall be deemed to be
an “Asset Sale.” 
 Section 5.05 Events of Default. For purposes of 6% Notes, Section 6.1(d)
of the Indenture is hereby replaced and superseded by the following clause solely with respect to the 6% Notes: 
 “(d) a
default in (a) Secured Indebtedness of the Company or the Secured Indebtedness of any of the Company’s Restricted Subsidiaries with an aggregate principal amount in excess of 5% of Total Assets, or (b) other Indebtedness of the
Company or other Indebtedness of any of its Restricted Subsidiaries with an aggregate principal amount in excess of $150 million, in either case, (A) resulting from the failure to pay principal or interest when due (after giving effect to any
applicable extensions or grace or cure periods) or (B) as a result of which the maturity of such Indebtedness has been accelerated prior to its final Stated Maturity;” 

Section 5.06 Limitation on Dividend and Other Payment Restrictions Affecting Subsidiary Guarantors. Solely with
respect to the 6% Notes, Section 4.10 of the Indenture is hereby (a) amended by striking the word “or” immediately before clause (viii) in the first sentence of the second paragraph thereof and (b) supplemented by
inserting the following additional clauses after clause (viii) in the first sentence of the second paragraph thereof: 

(ix) imposed under purchase money obligations for property acquired in the ordinary course of business and Capitalized Lease Obligations
that impose restrictions on the property purchased or leased of the nature described in clause (iv) of the preceding paragraph; (x) by reason of provisions limiting the disposition or distribution of assets or property in joint venture
agreements, asset sale agreements, sale-leaseback agreements, stock sale agreements and other similar agreements (including agreements entered into in connection with a Restricted Investment) entered into with the approval of the Board of the
Company and not otherwise prohibited by this Indenture, which limitation is applicable only to the assets that are the subject of such agreements and which do not detract from the value of the Company’s property or assets or the value of
property or assets of any Restricted Subsidiary in any manner material to the 

  
 31 

 
Company and its Restricted Subsidiaries, taken as a whole; or (xi) by reason of restrictions on cash or other deposits or net worth imposed by hotel managers or other customers under
contracts entered into in the ordinary course of business. 
 Section 5.07 Limitation on Transactions with
Affiliates. Solely with respect to the 6% Notes, Section 4.11 of the Indenture is hereby (a) amended by striking the second sentence of the second paragraph thereof and (b) supplemented by inserting the following sentence
after the first sentence of the second paragraph thereof: 
 Notwithstanding the foregoing, prior to engaging in any Affiliate
Transaction or series of related Affiliate Transactions, other than Exempted Affiliate Transactions and any transaction or series of related transactions specified in any of clauses (ii) through (iv) of this paragraph, (a) with an
aggregate value in excess of $25 million, the Company must deliver to the Trustee an Officer’s Certificate certifying that the transaction complies with the first paragraph of this Section 4.11; (b) with an aggregate value in excess
of $50 million, must first be approved pursuant to a Board Resolution set forth in an Officer’s Certificate certifying that the transaction complies with the first paragraph of this Section 4.11 and that the transaction has been approved
by a majority of the Board of the Company who are disinterested in the subject matter of the transaction; and (c) with an aggregate value in excess of $250 million, will require the Company to obtain a favorable written opinion from an
independent financial advisor of national reputation as to the fairness from a financial point of view of such transaction to the Company, such Subsidiary Guarantor or such Restricted Subsidiary, except that in the case of a real estate transaction
or related real estate transactions with an aggregate value in excess of $250 million, an opinion may instead be obtained from an independent, qualified real estate appraiser that the consideration received in connection with such transaction is
fair to the Company, such Subsidiary Guarantor or such Restricted Subsidiary. 
 ARTICLE 6 

Section 6.01 For purposes of the 6% Notes, Section 2.7 of the Indenture is hereby supplemented with, and where inconsistent
replaced by, the following provisions: 
 (a) Transfer and Exchange of Global Notes. A Global Note may not be
transferred as a whole except by the Depository to a nominee of the Depository, by a nominee of the Depository to the Depository or to another nominee of the Depository, or by the Depository or any such nominee to a successor Depository or a nominee
of such successor Depository. All Global Notes will be exchanged by the Company for Certificated Notes if: 

(1) the Company delivers to the Trustee notice from the Depository (A) that it is unwilling or unable to continue to
act as Depository and a successor Depository is not appointed by the Company within 90 days after the date of such notice from the Depository or (B) that it is no longer a clearing agency registered under the Exchange Act and a successor
Depository is not appointed by the Company within 90 days after the date of such notice from the Depository; 

  
 32 

 (2) the Company, at its option, notifies the Trustee in writing that it
elects to cause the issuance of Certificated Notes; or 
 (3) upon request of the Trustee or Holders of a
majority of the principal amount of outstanding 6% Notes if there shall have occurred and be continuing a Default or Event of Default with respect to the 6% Notes. 

Upon the occurrence of any of the preceding events in (1), (2) or (3) above, Certificated Notes shall be issued
in such names as the Depository shall instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.8 and 2.11 of the Indenture. A Global Note may not be exchanged for another 6% Note other than
as provided in this Section 6.01(a), however, beneficial interests in a Global Note may be transferred and exchanged as provided in Section 6.01(b), (c) or (f) hereof. 

(b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in the
Global Notes will be effected through the Depository, in accordance with the provisions of the Indenture and the Applicable Procedures. Beneficial interests in the Restricted Global Notes will be subject to restrictions on transfer comparable to
those set forth herein. Transfers of beneficial interests in the Global Notes also will require compliance with either subparagraph (1) or (2) below, as applicable, as well as one or more of the other following subparagraphs, as
applicable: 
 (1) Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any
Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer restrictions set forth in the Private Placement Legend. Beneficial
interests in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note. No written orders or instructions shall be required to be delivered to the
Registrar to effect the transfers described in this Section 6.01(b)(1). 
 (2) All Other Transfers and
Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 6.01(b)(1) above, the transferor of such beneficial interest must deliver to the
Registrar either: (A)(1) a written order from a Participant or an Indirect Participant given to the Depository in accordance with the Applicable Procedures directing the Depository to credit or cause to be credited a beneficial interest in another
Global Note in an amount equal to the beneficial interest to be transferred or exchanged; 

  
 33 

 
and (2) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase; or (B)(1) a written order
from a Participant or an Indirect Participant given to the Depository in accordance with the Applicable Procedures directing the Depository to cause to be issued a Certificated Note in an amount equal to the beneficial interest to be transferred or
exchanged; and (2) instructions given by the Depository to the Registrar containing information regarding the Person in whose name such Certificated Note shall be registered to effect the transfer or exchange referred to in (B)(1) above;

 Upon consummation of an Exchange Offer by the Company in accordance with Section 6.01(f) hereof, the requirements of this
Section 6.01(b)(2) shall be deemed to have been satisfied upon receipt by the Registrar of the instructions contained in the Letter of Transmittal delivered by the Holder of such beneficial interests in the Restricted Global Notes. Upon
satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in the Indenture and the 6% Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of
the relevant Global Note(s) pursuant to Section 6.01(h) hereof. 
 (3) Transfer of Beneficial Interests
to Another Restricted Global Note. A beneficial interest in any Restricted Global Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with
the requirements of Section 6.01(b)(2) above and the Registrar receives the following: 
 (A) if the
transferee will take delivery in the form of a beneficial interest in the 144A Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; and 

(B) if the transferee will take delivery in the form of a beneficial interest in the Regulation S Global Note, then the
transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof. 
 (4) Transfer and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted Global Note. A beneficial interest in any Restricted Global Note may be
exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note if the exchange or transfer complies
with the requirements of Section 6.01(b)(2) above and: 
 (A) such exchange or transfer is effected
pursuant to the Exchange Offer in accordance with the Registration Rights Agreement and 

  
 34 

 
Section 6.01(f) of this Forty-First Supplemental Indenture, and the holder of the beneficial interest to be transferred, in the case of an exchange, or the transferee, in the case of a
transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of
the Company or the Subsidiary Guarantors; 
 (B) such transfer is effected pursuant to the Shelf Registration
Statement in accordance with the Registration Rights Agreement; 
 (C) such transfer is effected by a
Broker-Dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the following: 
 (1) if the holder of
such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications
in item (1)(a) thereof; or 
 (2) if the holder of such beneficial interest in a Restricted Global Note
proposes to transfer such beneficial interest to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit B hereto, including the
certifications in item (4) thereof; 
 and, in each such case set forth in this subparagraph (D), if the Registrar so requests or if the
Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and
in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 If any such transfer is
effected pursuant to subparagraph (B) or (D) above at a time when an Unrestricted Global Note has not yet been issued, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.3 of the
Indenture, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred pursuant to subparagraph (B) or (D) above.

  
 35 

 Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who
take delivery thereof in the form of, a beneficial interest in a Restricted Global Note. 
 (c) Transfer or Exchange of
Beneficial Interests for Certificated Notes. 
 (1) Beneficial Interests in Restricted Global Notes to Restricted
Certificated Notes. If any holder of a beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Certificated Note or to transfer such beneficial interest to a Person who takes delivery
thereof in the form of a Restricted Certificated Note, then, if the exchange or transfer complies with the requirements of Section 6.01(a) of this Forty-First Supplemental Indenture, upon receipt by the Registrar of the following documentation:

 (A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such
beneficial interest for a Restricted Certificated Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (2)(a) thereof; 

(B) if such beneficial interest is being transferred to a QIB in accordance with Rule 144A, a certificate to the effect
set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
 (C) if such beneficial
interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; 

(D) if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the
Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 

(E) if such beneficial interest is being transferred to an Institutional Accredited Investor in reliance on an exemption
from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including the certifications, certificates and Opinion of
Counsel required by item (3)(d) thereof, if applicable; 

  
 36 

 (F) if such beneficial interest is being transferred to the Company or any
of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (G) if such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the
certifications in item (3)(c) thereof, 
 the Trustee shall cause the aggregate principal amount of the applicable Global Note to be
reduced accordingly pursuant to Section 6.01(h) hereof, and the Company shall execute and the Trustee shall authenticate and deliver to the Person designated in the instructions a Certificated Note in the appropriate principal amount. Any
Certificated Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 6.01(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such
beneficial interest shall instruct the Registrar through instructions from the Depository and the Participant or Indirect Participant. The Trustee shall deliver such Certificated Notes to the Persons in whose names such Notes are so registered. Any
Certificated Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 6.01(c)(1) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein.

 (2) Beneficial Interests in Restricted Global Notes to Unrestricted Certificated Notes. A holder of a beneficial
interest in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Certificated Note or may transfer such beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Certificated Note only if
the exchange or transfer complies with the requirements of Section 6.01(a) of this Forty-First Supplemental Indenture and: 
 (A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights Agreement and Section 6.01(f) of this Forty-First Supplemental Indenture, and the
holder of such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the
distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company or the Subsidiary Guarantors; 
 (B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement; 

  
 37 

 (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange
Offer Registration Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar
receives the following: 
 (1) if the holder of such beneficial interest in a Restricted Global Note proposes to
exchange such beneficial interest for an Unrestricted Certificated Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 

(2) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest
to a Person who shall take delivery thereof in the form of an Unrestricted Certificated Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel
in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in
order to maintain compliance with the Securities Act. 
 (3) Beneficial Interests in Unrestricted Global Notes to Unrestricted
Certificated Notes. If any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for an Unrestricted Certificated Note or to transfer such beneficial interest to a Person who takes delivery
thereof in the form of an Unrestricted Certificated Note, then, if the exchange or transfer complies with the requirements of Section 6.01(a) of this Forty-First Supplemental Indenture and upon satisfaction of the conditions set forth in
Section 6.01(b)(2) of this Forty-First Supplemental Indenture, the Trustee shall cause the aggregate principal amount of the applicable Unrestricted Global Note to be reduced accordingly pursuant to Section 6.01(h) hereof, and the Company
shall execute and, upon receipt of a Company Order pursuant to Section 2.3 of the Indenture, the Trustee shall authenticate and deliver to the Person designated in the instructions an Unrestricted Certificated Note in the appropriate principal
amount. Any Unrestricted Certificated Note issued in exchange for a beneficial interest pursuant to this Section 6.01(c)(3) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such
beneficial interest requests through instructions to the Registrar from or through the Depository and the Participant or Indirect Participant. The Trustee shall deliver such Unrestricted Certificated Notes to the Persons in whose names such 6% Notes
are so registered. Any Unrestricted Certificated Note issued in exchange for a beneficial interest pursuant to this Section 6.01(c)(3) shall not bear the Private Placement Legend. 

  
 38 

 (d) Transfer and Exchange of Certificated Notes for Beneficial Interests.

 (1) Restricted Certificated Notes or Unrestricted Certificated Notes to Beneficial Interests in Restricted Global
Notes. If any Holder of a Restricted Certificated Note or Unrestricted Certificated Note proposes to exchange a Restricted Certificated Note or Unrestricted Certificated Note, as applicable, for a beneficial interest in a Restricted Certificated
Note or Unrestricted Global Note other than a Regulation S Restricted Global Note, as applicable, or to transfer such Restricted Certificated Notes to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global
Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if the Holder of such
Restricted Certificated Note or Unrestricted Certificated Note proposes to exchange such Restricted Certificated Note or Unrestricted Certificated Note, as applicable, for a beneficial interest in a Restricted Global Note, a certificate from such
Holder in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof; 
 (B) if such
Restricted Certificated Note or Unrestricted Certificated Notes is being transferred to a QIB in accordance with Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 

(C) if such Restricted Certificated Note or Unrestricted Certificated Notes is being transferred to a Non-U.S. Person in
an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; 

(D) if such Restricted Certificated Note or Unrestricted Certificated Note is being transferred pursuant to an exemption
from the registration requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 

(E) if such Restricted Certificated Note or Unrestricted Certificated Notes is being transferred to an Institutional
Accredited Investor in reliance on an exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including
the certifications, certificates and Opinion of Counsel required by item (3)(d) thereof, if applicable; 

  
 39 

 (F) if such Restricted Certificated Note or Unrestricted Certificated Notes
is being transferred to the Company or any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 

(G) if such Restricted Certificated Note or Unrestricted Certificated Notes is being transferred pursuant to an effective
registration statement under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof, 
 the Trustee shall cancel the Restricted Certificated Note or Unrestricted Certificated Notes, increase or cause to be increased the aggregate principal amount of, in the case of clause (A) above, the
appropriate Restricted Global Note and in the case of clause (B) above, the 144A Global Note, in the case of clause (C) above, the Regulation S Global Note. 
 (2) Restricted Certificated Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of a Restricted Certificated Note may exchange such Restricted Certificated Note for a beneficial
interest in an Unrestricted Global Note or transfer such Restricted Certificated Note to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note only if: 

(A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights
Agreement and Section 6.01(f) of this Forty-First Supplemental Indenture, and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a
Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company or the Subsidiary Guarantors; 

(B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; 
 (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration
Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the following:

 (1) if the Holder of such Restricted Certificated Notes proposes to exchange such Restricted Certificated
Note for a beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or 

  
 40 

 (2) if the Holder of such Restricted Certificated Notes proposes to
transfer such Notes to a Person who shall take delivery thereof in the form of a beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item
(4) thereof; 
 and, in each such case set forth in this subparagraph (D), if the Registrar so requests or if the Applicable Procedures so
require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement
Legend are no longer required in order to maintain compliance with the Securities Act. 
 Upon satisfaction of the conditions of any of the
subparagraphs in this Section 6.01(d)(2), the Trustee shall cancel the Restricted Certificated Notes so transferred or exchanged and increase or cause to be increased the aggregate principal amount of the appropriate Unrestricted Global Note.

 (3) Unrestricted Certificated Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of an Unrestricted
Certificated Note may exchange such Unrestricted Certificated Note for a beneficial interest in an Unrestricted Global Note or transfer such Certificated Notes to a Person who takes delivery thereof in the form of a beneficial interest in an
Unrestricted Global Note at any time. Upon receipt of a request for such an exchange or registration of transfer, the Trustee shall cancel the applicable Unrestricted Certificated Note and increase or cause to be increased the aggregate principal
amount of one of the Unrestricted Global Notes. 
 If any such exchange or registration of transfer from a Certificated Note to a beneficial
interest is effected pursuant to subparagraphs (2)(B), (2)(D) or (3) above at a time when an Unrestricted Global Note has not yet been issued, the Company shall issue and, upon receipt of a Company Order in accordance with Section 2.3
of the Indenture, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Certificated Notes so transferred. 

(e) Transfer and Exchange of Certificated Notes for Certificated Notes. Upon request by a Holder of Certificated Notes and such
Holder’s compliance with the provisions of this Section 6.01(e), the Registrar shall register the transfer or exchange of Certificated Notes. Prior to such registration of transfer or exchange, the requesting Holder must present or
surrender to the Registrar the Certificated Notes duly endorsed or accompanied by a 

  
 41 

 
written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder shall provide
any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 6.01(e). 
 (1) Restricted Certificated Notes to Restricted Certificated Notes. Any Restricted Certificated Note may be transferred to and registered in the name of Persons who take delivery thereof in the
form of a Restricted Certificated Note if the Registrar receives the following: 
 (A) if the transfer will be
made pursuant to Rule 144A, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; 

(B) if the transfer will be made pursuant to Rule 903 or Rule 904, then the transferor must deliver a certificate in the
form of Exhibit B hereto, including the certifications in item (2) thereof; and 
 (C) if the transfer will
be made pursuant to any other exemption from the registration requirements of the Securities Act, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel
required by item (3) thereof, if applicable. 
 (2) Restricted Certificated Notes to Unrestricted Certificated Notes.
Any Restricted Certificated Note may be exchanged by the Holder thereof for an Unrestricted Certificated Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Certificated Note if: 

(A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights
Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution of
the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 
 (B)
any such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement; 

  
 42 

 (C) any such transfer is effected by a Broker-Dealer pursuant to the
Exchange Offer Registration Statement in accordance with the Registration Rights Agreement; or 
 (D) the
Registrar receives the following: 
 (1) if the Holder of such Restricted Certificated Notes proposes to
exchange such Restricted Certificated Notes for an Unrestricted Certificated Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 

(2) if the Holder of such Restricted Certificated Notes proposes to transfer such Restricted Certificated Notes to a
Person who shall take delivery thereof in the form of an Unrestricted Certificated Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the
Registrar and the Company to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain
compliance with the Securities Act. 
 (3) Unrestricted Certificated Notes to Unrestricted Certificated Notes. A Holder of
Unrestricted Certificated Notes may transfer such Unrestricted Certificated Notes to a Person who takes delivery thereof in the form of an Unrestricted Certificated Note. Upon receipt of a request to register such a transfer, the Registrar shall
register the Unrestricted Certificated Notes pursuant to the instructions from the Holder thereof. 
 (f) Exchange
Offer. Upon the occurrence of the Exchange Offer in accordance with the Registration Rights Agreement, the Company shall issue and, upon receipt of a Company Order in accordance with Section 2.3 of the Indenture and an Opinion of Counsel
for the Company as to certain matters discussed in this Section 6.01(f), the Trustee shall authenticate (i) one or more Unrestricted Global Notes in an aggregate principal amount equal to the sum of (A) the principal amount of the
beneficial interests in the Restricted Global Notes tendered for acceptance by Persons who certify in the applicable Letters of Transmittal that (x) they are not Broker-Dealers, (y) they are not participating in a distribution of the
Exchange Notes and (z) they are not affiliates (as defined in Rule 144) of the Company, and accepted for exchange in the Exchange Offer and (B) the principal amount of Certificated Notes exchanged or transferred for beneficial interests in
Unrestricted Global Notes in connection with the Exchange Offer pursuant to Section 6.01(d)(ii) and (ii) Certificated Notes in an aggregate principal amount equal to the principal amount of the Restricted Certificated Notes accepted for
exchange in the 

  
 43 

 
Exchange Offer (other than Certificated Notes described in clause (i)(B) immediately above). Concurrently with the issuance of such Exchange Notes, the Trustee shall cause the aggregate principal
amount of the applicable Restricted Global Notes to be reduced accordingly, and the Company shall execute and, upon receipt of a Company Order pursuant to Section 2.3 of the Indenture, the Trustee shall authenticate and deliver to the Persons
designated by the Holders of Certificated Notes so accepted Certificated Notes in the appropriate principal amount. 
 The
Opinion of Counsel for the Company referenced above shall state that: 
 (1) the Exchange Notes have been duly authorized and,
when executed and authenticated in accordance with the provisions of the Indenture delivered in exchange for Series Y Notes in accordance with the Indenture and the Exchange Offer, will be entitled to the benefits of the Indenture and will be valid
and binding obligations of the Company, enforceable in accordance with their terms except as (x) the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors’ rights generally, (y) rights of
acceleration and the availability of equitable remedies may be limited by equitable principles of general applicability and (z) other customary limitations and exceptions for opinions of such type; and (2) when the Exchange Notes are
executed and authenticated in accordance with the provisions of the Indenture and delivered in exchange for Series Y Notes in accordance with the Indenture and the Exchange Offer, the Guarantee of the Exchange Notes by the Subsidiary Guarantors will
be entitled to the benefits of the Indenture and will be valid and binding obligations of the Subsidiary Guarantors, enforceable in accordance with their terms except as (x) the enforceability thereof may be limited by bankruptcy, insolvency or
similar laws affecting creditors’ rights generally, (y) rights of acceleration and the availability of equitable remedies may be limited by equitable principles of general applicability and (z) other customary limitations and
exceptions for opinions of this type. 
 (g) Legends. The following legends shall appear on the face of all Global Notes
and Certificated Notes issued under the Indenture unless specifically stated otherwise in the applicable provisions of the Indenture. 
 (1) Private Placement Legend. 
 (A) Except as permitted by
subparagraph (B) below, each Global Note and each Certificated Note (and all Notes issued in exchange therefor or substitution thereof) shall bear the legend in substantially the following form: 

“THIS NOTE (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND,

  
 44 

 
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, EXCEPT AS SET FORTH BELOW. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 

(1) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS NOTE EXCEPT (A) TO HOST HOTELS & RESORTS, L.P. (“HOST
L.P.”) OR ANY GUARANTOR WHOLLY OWNED BY HOST L.P. OR ANY OF THEIR RESPECTIVE WHOLLY OWNED SUBSIDIARIES, (B) TO A PERSON WHO IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A
“QIB”) PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (D) OUTSIDE THE UNITED
STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” (AS DEFINED IN RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT)
THAT, PRIOR TO SUCH TRANSFER, FURNISHES THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE TRANSFER OF THIS NOTE (THE FORM OF WHICH CAN BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH TRANSFER IS IN RESPECT OF
AN AGGREGATE PRINCIPAL AMOUNT OF NOTES LESS THAN $250,000, AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO HOST L.P. THAT SUCH TRANSFER IS EXEMPT UNDER THE SECURITIES ACT, (F) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO HOST L.P.), OR (G) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY
STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 
 (2) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM
THIS NOTE OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE AS TO THE ABOVE RESTRICTIONS.” 
 (B)
Notwithstanding the foregoing, any Global Note or Certificated Note issued pursuant to subparagraphs (b)(4), (c)(2), (c)(3), (d)(2), (d)(3), (e)(2), (e)(3) of (f) to this Section 6.01 (and all 6% Notes issued in exchange therefor or
substitution thereof) shall not bear the Private Placement Legend. 

  
 45 

 (2) Global Note Legend. To the extent required by the Depository,
each Global Note shall bear a legend in substantially the following form: 
 “THIS GLOBAL NOTE IS HELD BY THE DEPOSITORY (AS DEFINED IN THE
INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE
REQUIRED PURSUANT TO SECTION 6.01 OF THE FORTY-FIRST SUPPLEMENTAL INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 6.01 OF THE FORTY-FIRST SUPPLEMENTAL INDENTURE, (3) THIS GLOBAL NOTE MAY BE
DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY
TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 

(e) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have
been exchanged for Certificated Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be returned to or retained and canceled by the Trustee in accordance with
Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global
Note or for Certificated Notes, the principal amount of 6% Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depository at the direction of the Trustee to
reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who shall take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note shall be increased
accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. 

  
 46 

 (f) General Provisions Relating to Transfers and Exchanges. 

(1) To permit registrations of transfers and exchanges, the Company shall execute and the Trustee shall authenticate Global Notes and
Certificated Notes upon receipt of a Company Order. 
 (2) No service charge shall be made to a Holder of a beneficial interest
in a Global Note or to a Holder of a Certificated Note for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith
(other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.11, 3.6, 4.12, and 10.1 of the Indenture). 
 (3) The Registrar shall not be required to register the transfer of or exchange of any 6% Note selected for redemption in whole or in part, except the unredeemed portion of any 6% Note being redeemed in
part. 
 (4) All Global Notes and Certificated Notes issued upon any registration of transfer or exchange of Global Notes or
Certificated Notes shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under the Indenture, as the Global Notes or Certificated Notes surrendered upon such registration of transfer or exchange.

 (5) Neither the Registrar nor the Company will be required: 

(A) to issue, to register the transfer of or to exchange any 6% Notes during a period beginning at the opening of
business 15 days before the day of any selection of 6% Notes for redemption and ending at the close of business on the day of selection; 
 (B) to register the transfer of or to exchange any 6% Note selected for redemption in whole or in part, except the unredeemed portion of any 6% Note being redeemed in part; or 

(C) to register the transfer of or to exchange a 6% Note between a record date and the next succeeding interest payment
date. 
 (6) Prior to due presentment for the registration of a transfer of any 6% Note, the Trustee, any Agent and the Company
may deem and treat the Person in whose 

  
 47 

 
name any 6% Note is registered as the absolute owner of such 6% Note for the purpose of receiving payment of principal of and interest on such 6% Notes and for all other purposes, and none of the
Trustee, any Agent or the Company shall be affected by notice to the contrary. 
 (7) The Trustee shall authenticate Global Notes
and Certificated Notes in accordance with the provisions of Section 2.3 of the Indenture. 
 (8) All certifications,
certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 6.01 to effect a registration of transfer or exchange may be submitted by facsimile. 

Notwithstanding anything herein to the contrary, as to any certifications and certificates delivered to the Registrar pursuant to this
Section 6.01 of this Forty-First Supplemental Indenture, the Registrar’s duties shall be limited to confirming that any such certifications and certificates delivered to it are substantially in the form of Exhibits A, B, C and D attached
to this Forty-First Supplemental Indenture. The Registrar shall not be responsible for confirming the truth or accuracy of representations made in any such certifications or certificates. 

ARTICLE 7 

Section 7.01 Except as specifically modified herein, the Indenture is in all respects ratified and confirmed and shall remain in
full force and effect in accordance with its terms. 
 Section 7.02 Except as otherwise expressly provided herein, no
duties, responsibilities or liabilities are assumed or shall be construed to be assumed by the Trustee by reason of this Forty-First Supplemental Indenture. This Forty-First Supplemental Indenture is executed and accepted by the Trustee subject to
all the terms and conditions set forth in the Indenture with the same force and effect as if those terms and conditions were repeated at length herein and made applicable to the Trustee with respect to this Forty-First Supplemental Indenture.

 Section 7.03 The Trustee shall not be responsible in any manner whatsoever for or in respect of the recitals contained
herein, all of which recitals are made solely by the Company and the Subsidiary Guarantors. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture. 

Section 7.04 THIS FORTY-FIRST SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK INCLUDING, WITHOUT LIMITATION, SECTIONS 5 1401 AND 5 1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW AND NEW YORK CIVIL 

  
 48 

 
PRACTICE LAWS AND RULES 327(b). EACH OF THE COMPANY AND THE SUBSIDIARY GUARANTORS HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN IN
THE CITY OF NEW YORK OR ANY FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE INDENTURE AND THE SECURITIES, AND IRREVOCABLY ACCEPTS FOR ITSELF AND
IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, JURISDICTION OF THE AFORESAID COURTS. EACH OF THE COMPANY AND THE SUBSIDIARY GUARANTORS IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE LAW, ANY OBJECTION
WHICH THEY MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT
FORUM. NOTHING HEREIN SHALL AFFECT THE RIGHT OF THE TRUSTEE OR ANY SECURITY HOLDER TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST THE COMPANY AND THE SUBSIDIARY GUARANTORS IN ANY
OTHER JURISDICTION. 
 Section 7.05 The parties may sign any number of copies of this Forty-First Supplemental Indenture.
Each signed copy shall be an original, but all of such executed copies together shall represent the same agreement. 

Section 7.06 All capitalized terms used in this Forty-First Supplemental Indenture which are not otherwise defined herein, shall
have the respective meanings specified in the Indenture, unless the context otherwise requires. 
 Section 7.07 The 6%
Notes may be issued in whole or in part in the form of one or more Global Securities, registered in the name of Cede & Co., as nominee of The Depository Trust Company (“DTC”). 

  
 49 

 IN WITNESS WHEREOF, the parties to this Forty-First Supplemental Indenture have caused this
Forty-First Supplemental Indenture to be duly executed, all as of the date first written above. 
  

					
	COMPANY
	
	HOST HOTELS & RESORTS, L.P., a Delaware limited partnership
		
	BY:	 	 HOST HOTELS & RESORTS, INC.,
 its general partner

		
	By:	 	 /s/ Larry K. Harvey

		 	Name:	 	Larry K. Harvey
		 	Title:	 	Executive Vice President,
		 		 	Chief Financial Officer

 Signature Page to Forty-First Supplemental Indenture 

 
	
	SUBSIDIARY GUARANTORS
	
	AIRPORT HOTELS LLC,
	HOST OF BOSTON, LTD.,
	 BY: AIRPORT HOTELS LLC

	HOST OF HOUSTON, LTD.,
	 BY: AIRPORT HOTELS HOUSTON LLC

	HOST OF HOUSTON 1979 LP,
	 BY: HOST OF HOUSTON, LTD.

	HMH MARINA LLC,
	HMC ATLANTA LLC,
	HMC BURLINGAME LLC,
	HMC CAPITAL RESOURCES LP,
	 BY: HOST NY DOWNTOWN GP LLC

	HOST PARK RIDGE LLC,
	HMC SUITES LLC,
	HMC SUITES LIMITED PARTNERSHIP,
	 BY: HMC SUITES LLC

	WELLSFORD-PARK RIDGE HMC HOTEL LIMITED
	PARTNERSHIP,
	 BY: HOST PARK RIDGE LLC

	YBG ASSOCIATES LP,
	 BY: HOST MOSCONE GP LLC

	HMC CHICAGO LLC,
	HMC DESERT LLC,
	HMC DIVERSIFIED LLC,
	HMC EAST SIDE LLC,
	EAST SIDE HOTEL ASSOCIATES, L.P.
	 BY: HMC EAST SIDE LLC

	HMC GRAND LP,
	 BY: HOST GRAND GP LLC

	HMC HOTEL DEVELOPMENT LP,
	 BY: HOST TAMPA GP LLC

	HMC MANHATTAN BEACH LLC,
	HMC MARKET STREET LLC,
	NEW MARKET STREET LP,
	 BY: HMC MARKET STREET LLC

	HMC MEXPARK LLC,
	HMC POLANCO LLC,
	HMC NGL LLC,
	HMC OLS I L.P.,
	 BY: HMC OLS I LLC

	HMC PLP LLC,
	CHESAPEAKE HOTEL LIMITED PARTNERSHIP,
	 BY: HMC PLP LLC

	HMC POTOMAC LLC,

 Signature Page to Forty-First Supplemental Indenture 

 
	
	HMC PROPERTIES I LLC,
	HMC SEATTLE LLC,
	HMC SFO LP,
	 BY: HOST SFO GP LLC

	HOST SWISS GP LLC,
	HMH GENERAL PARTNER HOLDINGS LLC,
	HMH PENTAGON LP,
	 BY: HOST PENTAGON GP LLC

	HMH RESTAURANTS LP,
	 BY: HOST RESTAURANTS GP LLC

	HMH RIVERS LLC,
	HMH RIVERS, L.P.,
	 BY: HMH RIVERS LLC

	HMH WTC LLC,
	HOST LA JOLLA LLC,
	CITY CENTER HOTEL LIMITED PARTNERSHIP,
	 BY: HOST CITY CENTER GP LLC

	HOST TIMES SQUARE LP,
	 BY: HOST TIMES SQUARE GP LLC

	IVY STREET LLC,
	MARKET STREET HOST LLC,
	PHILADELPHIA AIRPORT HOTEL LLC,
	PM FINANCIAL LLC,
	PM FINANCIAL LP,
	 BY: PM FINANCIAL LLC

	HMC PROPERTY LEASING LLC,
	HMC HOST RESTAURANTS LLC,
	S.D. HOTELS LLC,
	TIMES SQUARE GP LLC,
	HMC HT LP,
	 BY: HOST GH ATLANTA GP LLC,

	HMC OLS I LLC,
	HMC OLS II L.P.,
	 BY: HMC OLS I LLC

	HMC/INTERSTATE MANHATTAN BEACH, L.P.,
	 BY: HMC MANHATTAN BEACH LLC

	AMELIATEL LP,
	 BY: HMC AMELIA II LLC

	HMC AMELIA II LLC,
	ROCKLEDGE HOTEL LLC,
	HMC COPLEY LP,
	 BY: HOST COPLEY GP LLC

	HMC HEADHOUSE FUNDING LLC,
	IVY STREET HOPEWELL LLC,
	HMC DIVERSIFIED AMERICAN HOTELS, L.P.,
	 BY: HMC DIVERSIFIED LLC

 Signature Page to Forty-First Supplemental Indenture 

 
	
	POTOMAC HOTEL LIMITED PARTNERSHIP,
	 BY: HMC POTOMAC LLC

	HMC AP GP LLC,
	HMC AP LP,
	 BY: HMC AP GP LLC

	HMC AP CANADA COMPANY,
	HMC TORONTO AIRPORT GP LLC,
	HMC TORONTO AIRPORT LP,
	 BY: HMC TORONTO AIRPORT GP LLC

	HMC TORONTO EC GP LLC,
	HMC TORONTO EC LP,
	 BY: HMC TORONTO EC GP LLC

	HMC CHARLOTTE GP LLC,
	HMC CHARLOTTE LP,
	 BY: HMC CHARLOTTE GP LLC

	HMC CHARLOTTE (CALGARY) COMPANY,
	CALGARY CHARLOTTE PARTNERSHIP,
	 BY: HMC CHARLOTTE (CALGARY) COMPANY

	 BY: HMC GRACE (CALGARY) COMPANY

	CALGARY CHARLOTTE HOLDINGS COMPANY,
	HMC GRACE (CALGARY) COMPANY,
	HMC MAUI LP,
	 BY: HOST MAUI GP LLC

	HMC KEA LANI LP,
	 BY: HOST KEA LANI GP LLC

	HMC CHICAGO LAKEFRONT LLC,
	HMC LENOX LP,
	 BY: HOST LENOX LAND GP LLC

	HMC O’HARE SUITES GROUND LP,
	 BY: HOST O’HARE SUITES GROUND GP LLC

	HMC TORONTO AIR COMPANY,
	HMC TORONTO EC COMPANY,
	CINCINNATI PLAZA LLC,
	HOST CINCINNATI HOTEL LLC,
	HOST CINCINNATI II LLC,
	HOST FOURTH AVENUE LLC,
	HOST INDIANAPOLIS I LP,
	 BY: HOST INDIANAPOLIS GP LLC

	HOST LOS ANGELES LP,
	 BY: HOST LOS ANGELES GP LLC

	HOST MISSION HILLS II LLC,
	HOST MISSION HILLS HOTEL LP,
	 BY: HOST MISSION HILLS II LLC

	HOST NEEDHAM HOTEL LP,
	 BY: HOST NEEDHAM II LLC

	HOST NEEDHAM II LLC,

 Signature Page to Forty-First Supplemental Indenture 

 
	
	HST LT LLC,
	HST I LLC,
	SOUTH COAST HOST HOTEL LP,
	 BY: HOST SOUTH COAST GP LLC

	STARLEX LP,
	 BY: HOST WNY GP LLC

	BRE/SWISS LP,
	 BY: HOST SWISS GP LLC

	HHR HARBOR BEACH LLC,
	HHR LAUDERDALE BEACH LIMITED PARTNERSHIP,
	 BY: HHR HARBOR BEACH LLC

	HMC CAMBRIDGE LP,
	 BY: HOST CAMBRIDGE GP LLC

	HOST MCDOWELL GP LLC,
	HMC MCDOWELL LP,
	 BY: HOST MCDOWELL GP LLC

	HMC RESTON LP,
	 BY: HOST RESTON GP LLC

	HOST ATLANTA PERIMETER GROUND LP,
	 BY: HOST ATLANTA PERIMETER GROUND GP LLC,

	HOST CAPITOL HILL LLC,
	HOST DALLAS QUORUM GROUND LP,
	 BY: HOST DALLAS QUORUM GROUND GP LLC

	HOST INDIANAPOLIS HOTEL MEMBER LLC,
	IHP HOLDINGS PARTNERSHIP LP,
	 BY: HMH GENERAL PARTNER HOLDINGS LLC

	HMC GATEWAY LP,
	 BY: S.D. HOTELS LLC

	HHR SINGER ISLAND LIMITED PARTNERSHIP,
	 BY: HHR SINGER ISLAND GP LLC

	HHR SINGER ISLAND GP LLC,
	PACIFIC GATEWAY, LTD.,
	 BY: S.D. HOTELS LLC

	HOST KIERLAND LP,
	 BY: HOST KIERLAND GP LLC

	HOST TAMPA GP LLC,
	HOST RESTON GP LLC,
	HOST CAMBRIDGE GP LLC,
	HOST SOUTH COAST GP LLC,
	HOST SFO GP LLC,
	HOST PENTAGON GP LLC,
	HOST MOSCONE GP LLC,
	HOST NY DOWNTOWN GP LLC,
	HOST KEA LANI GP LLC,
	HOST KIERLAND GP LLC,
	HOST WNY GP LLC,

 Signature Page to Forty-First Supplemental Indenture 

 
			
	HOST LOS ANGELES GP LLC,
	HOST INDIANAPOLIS GP LLC,
	HOST ATLANTA PERIMETER GROUND GP LLC,
	HOST DALLAS QUORUM GROUND GP LLC,
	HOST O’HARE SUITES GROUND GP LLC,
	HOST LENOX LAND GP LLC,
	HOST RESTAURANTS GP LLC,
	HOST OP BN GP LLC,
	HOST MAUI GP LLC,
	HOST GH ATLANTA GP LLC,
	HOST TIMES SQUARE GP LLC,
	HOST COPLEY GP LLC,
	HOST CITY CENTER GP LLC,
	AIRPORT HOTELS HOUSTON LLC,
	HOST GRAND GP LLC,
	HOST INDIANAPOLIS LP,
	 BY: HOST INDIANAPOLIS HOTEL MEMBER LLC

	HHR ASSETS LLC,
	HHR RIO HOLDINGS LLC,
	HARBOR-CAL S.D. PARTNER LLC,
	HMC BURLINGAME HOTEL L.P.,
	 BY: HMC BURLINGAME LLC

	HOST SAN DIEGO LLC,
	HOST SAN DIEGO HOTEL LLC,
	HHR 42 ASSOCIATES GP LLC,
	HHR 42 ASSOCIATES, L.P.,
	 BY: HHR 42 ASSOCIATES GP LLC

		
	By:	 	 /s/ Larry K. Harvey

	Name:	 	Larry K. Harvey
	Title:	 	President of the Subsidiary Guarantors listed above (or, where applicable, of the general partner of the Subsidiary Guarantors listed above)

 Signature Page to Forty-First Supplemental Indenture 

 
			
	 HHR HOLDINGS COÖPERATIEF U.A.

		
	By:	 	 /s/ Larry K. Harvey

	Name:	 	Larry K. Harvey
	Title:	 	Managing Director A
		
	By:	 	 /s/ Liselotte Heine

	Name:	 	Liselotte Heine
	Title:	 	Managing Director B

 Signature Page to Forty-First Supplemental Indenture 

 
			
	HARBOR-CAL, S.D.
	
	 By: HARBOR-CAL S.D. PARTNER LLC

		
	By:	 	 /s/ Larry K. Harvey

	Name:	 	Larry K. Harvey
	Title:	 	President
	
	By: HOST HOTELS & RESORTS, L.P.
	
	 By: HOST HOTELS & RESORTS, INC., its general partner

		
	By:	 	 /s/ Larry K. Harvey

	Name:	 	Larry K. Harvey
	Title:	 	Executive Vice President and Chief Financial Officer

 Signature Page to Forty-First Supplemental Indenture 

					
	TRUSTEE
	
	 THE BANK OF NEW YORK MELLON,
 as Trustee

		
	By:	 	 /s/ Natalie A. Lawrence

		 	Name:	 	Natalie A. Lawrence
		 	Title:	 	Authorized Signatory

 Signature Page to Forty-First Supplemental Indenture 

 EXHIBIT A 
 FORM OF 6% [SERIES Y][/SERIES Z]1 SENIOR NOTE 
 Unless and until it is exchanged in whole or in part
for 6% Notes in definitive form, this Security may not be transferred except as a whole by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of the Depository or by the Depository or
any such nominee to a successor Depository or a nominee of such successor Depository. Unless this certificate is presented by an authorized representative of The Depository Trust Company (55 Water Street, New York, New York) (“DTC”), to
the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of DTC (and any payment is made
to Cede & Co. or such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof,
Cede & Co., has an interest herein.2

 HOST HOTELS & RESORTS, L.P. 
 6% [SERIES Y][/SERIES Z]3 SENIOR NOTE DUE 2021 
  

			
	CUSIP:	  	
		
	ISIN:	  	
		
	No.	  	$

 Host Hotels & Resorts, L.P., a Delaware limited partnership (hereinafter called the
“Company,” which term includes any successors under the Indenture hereinafter referred to), for value received, hereby promises to pay to         , or registered assigns, the principal sum of
$        , on October 1, 2021. The Security is one of the 6% [Series Y][/Series Z] Senior Notes due 2021 referred to in such Indenture (hereinafter referred to for purposes of this 6% Senior Note
collectively as the “6% Securities”). 
  

			
	Interest Payment Dates:	  	April 1 and October 1
		
	Record Dates:	  	March 15 and September 15

  

	1 	Series Y should be replaced with Series Z in the Exchange Notes. 

	2 	To be used only if the Security is issued as a Global Note. 

	3 	Series Y should be replaced with Series Z in the Exchange Notes. 

  
 A-1

 Reference is made to the further provisions of this Security on the reverse side, which
will, for all purposes, have the same effect as if set forth at this place. 
 IN WITNESS WHEREOF, the Company has caused
this Instrument to be duly executed. 
 Dated: 

 

			
	HOST HOTELS & RESORTS, L.P.,
	a Delaware limited partnership
	
	By its general partner,
	 HOST HOTELS & RESORTS, INC.,
 a Maryland corporation

		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Attest:	 	  

		 	Name:
		 	Title:

  
 A-2

 FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the 6% Securities of the Series designated therein referred to in the within mentioned Indenture. 

 

			
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:	 	  

		 	Authorized Signatory

 HOST HOTELS & RESORTS, L.P. 

6% [Series Y][/Series Z]4 Senior Note due 2021 
 THIS GLOBAL NOTE IS HELD BY THE DEPOSITORY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY
PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 6.01 OF THE FORTY-FIRST SUPPLEMENTAL INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART
PURSUANT TO SECTION 6.01 OF THE FORTY-FIRST SUPPLEMENTAL INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR
NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR

  

	4 	Series Y should be replaced with Series Z in the Exchange Notes. 

  
 A-3

 
ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55
WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.5 
 THIS NOTE (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, EXCEPT AS SET FORTH BELOW. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 

(1) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS NOTE EXCEPT (A) TO HOST HOTELS & RESORTS, L.P. (“HOST
L.P.”) OR ANY GUARANTOR WHOLLY OWNED BY HOST L.P. OR ANY OF THEIR RESPECTIVE WHOLLY OWNED SUBSIDIARIES, (B) TO A PERSON WHO IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A
“QIB”) PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (D) OUTSIDE THE UNITED
STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” (AS DEFINED IN RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT)
THAT, PRIOR TO SUCH TRANSFER, FURNISHES THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE TRANSFER OF THIS NOTE (THE FORM OF WHICH CAN BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH TRANSFER IS IN RESPECT OF
AN AGGREGATE PRINCIPAL AMOUNT OF NOTES LESS THAN $250,000, AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO HOST L.P. THAT SUCH TRANSFER IS EXEMPT UNDER THE SECURITIES ACT, (F) IN ACCORDANCE WITH ANOTHER 

 

	5 	To be included only on Global Notes deposited with DTC as Depository. 

  
 A-4

 
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO HOST L.P.), OR (G) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 
 (2) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS NOTE OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE AS TO THE ABOVE RESTRICTIONS.”6 
  

	1.	Interest. 

 Host
Hotels & Resorts, L.P., a Delaware limited partnership (hereinafter called the “Company,” which term includes any successors under the Indenture hereinafter referred to), promises to pay interest on the principal amount of this
Security at the rate of 6% per annum from November 18, 2011 until maturity. To the extent it is lawful, the Company promises to pay interest on any interest payment due but unpaid on such principal amount at a rate of 6% per annum
compounded semi-annually. 
 The Company will pay interest semi-annually on April 1 and October 1 of each year
(each, an “Interest Payment Date”), commencing April 1, 2012. Interest on the 6% Securities will accrue from the most recent date to which interest has been paid or, if no interest has been paid on the Securities, from the date of the
original issuance. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. 
  

	2.	Method of Payment. 

The Company shall pay interest on the 6% Securities (except defaulted interest) to the Persons who are the registered Holders at the
close of business on the Record Date immediately preceding the Interest Payment Date. Holders must surrender Securities to a Paying Agent to collect principal payments. Principal of, premium, if any, and interest on the 6% Securities will be payable
in United States Dollars at the office or agency of the Company maintained for such purpose, in the Borough of Manhattan, The City of New York or at the option of the Company, payment of interest may be made by check mailed to the Holders of the 6%
Securities at the addresses set forth upon the registry books of the Company; provided, however, Holders of Global Securities will be entitled to receive interest payments (other
than at maturity) by wire transfer of immediately available funds, if appropriate wire transfer instructions have been received in writing by the Trustee not fewer than 15 days prior to the applicable Interest Payment Date. Such wire instructions,
upon receipt by the Trustee, shall remain in effect until revoked by such Holder. No service charge will be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge payable in connection therewith. 
  

	6 	To be included only on Transfer Restricted Notes. 

  
 A-5

	3.	Paying Agent and Registrar. 

 Initially, The Bank of New York Mellon will act as Paying Agent and Registrar. The Company may change any Paying Agent, Registrar or co-Registrar without notice to the Holders. The Company or any of
its Subsidiaries may, subject to certain exceptions, act as Paying Agent, Registrar or co-Registrar. 
  

	4.	Indenture. 

 The
Company issued the 6% Securities and the Subsidiary Guarantors issued their Guarantees under an Amended and Restated Indenture, dated as of August 5, 1998, as supplemented (the “Indenture”), between the Company, the Subsidiary
Guarantors and the Trustee. Capitalized terms herein are used as defined in the Indenture unless otherwise defined herein. The 6% Securities are unlimited in aggregate principal amount. The terms of the 6% Securities include those stated in the
Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as in effect on the date of the Indenture. The 6% Securities are subject to all such terms, and Holders of 6% Securities are referred to the Indenture
and said Act for a statement of them. The Securities are senior, general obligations of the Company, secured initially by a pledge of Capital Stock of certain Subsidiaries of the Company, which pledge is shared equally and ratably with the Credit
Facility, the Existing Senior Notes and certain existing and future Indebtedness of the Company ranking pari passu with the Securities. Each Holder of this Security, by accepting the same,
(a) agrees to and shall be bound by the provisions of the Indenture, (b) authorizes and directs the Trustee on his behalf to take such action as may be provided in the Indenture and (c) appoints the Trustee his attorney-in-fact for
such purpose. 
  

	5.	Redemption. 

 At
any time, upon not less than 30 nor more than 60 days’ notice, the Company may redeem the 6% Securities in whole or in part at any time at a Redemption Price equal to 100% of the principal amount thereof plus the Make-Whole Premium, together
with accrued and unpaid interest thereon, if any, to the applicable Redemption Date. Notice of a redemption of the 6% Securities made pursuant to this paragraph 5 shall be given in the manner set forth in Section 3.3 of the Indenture;
provided however, that any such notice need not set forth the Redemption Price but need only set forth the calculation thereof as described in the immediately preceding sentence of this
paragraph 5. The Redemption Price, calculated as aforesaid, shall be set forth in an Officer’s Certificate delivered by the Company to the Trustee no later than one Business Day prior to the Redemption Date. 

Notwithstanding the foregoing, within the period beginning 90 days prior to their Stated Maturity, upon not less than 30 nor more than
60 days’ notice, the Company may redeem the 6% Securities in whole or in part, at a Redemption Price equal to 100% of 

  
 A-6

 
the principal amount thereof, together with accrued and unpaid interest thereon, if any, to the applicable Redemption Date (subject to the right of Holders of record on the relevant Record Date
to receive interest due on an Interest Payment Date that is on or prior to the applicable Redemption Date). 
 The
Company is not prohibited from acquiring the 6% Securities by means other than a redemption, whether pursuant to an issuer tender offer, in open market transactions, or otherwise, assuming such acquisition does not otherwise violate the terms of the
Indenture. 
 The 6% Securities will not have the benefit of a sinking fund. 

 

	6.	Denominations; Transfer; Exchange. 

 The 6% Securities are in registered form, without coupons, in denominations of $2,000 and integral multiples of $1,000. A Holder may register the transfer of, or exchange 6% Securities in accordance
with, the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need not register the
transfer of or exchange any 6% Securities (a) selected for redemption except the unredeemed portion of any 6% Security being redeemed in part or (b) for a period beginning 15 Business Days before the mailing of a notice of an offer to
repurchase or redemption and ending at the close of business on the day of such mailing. 
  

	7.	Persons Deemed Owners. 

 The registered Holder of a 6% Security may be treated as the owner of it for all purposes. 
  

	8.	Unclaimed Money. 

If money for the payment of principal or interest remains unclaimed for two years, the Trustee and the Paying Agent(s) will pay the
money back to the Company at its written request. After that, all liability of the Trustee and such Paying Agent(s) with respect to such money shall cease. 
  

	9.	Discharge Prior to Redemption or Maturity. 

 Except as set forth in the Indenture, if the Company irrevocably deposits with the Trustee, in trust, for the benefit of the Holders, U.S. legal tender, U.S. Government Obligations or a combination
thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay the principal of, premium, if any, and interest on such 6% Securities on the stated date for payment thereof or
on the redemption date of such principal or installment of principal of, premium, if any, or interest on such 6% Securities, the Company will be discharged from certain provisions of the Indenture and the 6% Securities (including the restrictive
covenants described in paragraph 11 below, but excluding its obligation to pay the principal of, premium, if any, and interest on the 6% Securities). Upon satisfaction of certain additional conditions set forth in the Indenture, the Company may
elect to have its obligations and the obligations of the Subsidiary Guarantors discharged with respect to outstanding 6% Securities. 

  
 A-7

	10.	Amendment; Supplement; Waiver. 

 The Company, the Subsidiary Guarantors and the Trustee may enter into a supplemental indenture for certain limited purposes without the consent of the Holders. Subject to certain exceptions, the
Indenture or the 6% Securities may be amended or supplemented with the written consent of the Holders of not less than a majority in aggregate principal amount of the 6% Securities then outstanding (except that any amendments or supplements to the
provisions relating to security interests or with respect to the Guarantees of the Subsidiary Guarantors shall require the consent of the holders of not less than
66 2/3% of the aggregate principal amount of the
Securities then outstanding), and any existing Default or Event of Default or compliance with any provision may be waived with the consent of the Holders of a majority in aggregate principal amount of the 6% Securities then outstanding. Without
notice to or consent of any Holder, the parties thereto may under certain circumstances amend or supplement the Indenture or the 6% Securities to, among other things, cure any ambiguity, defect or inconsistency, or make any other change that does
not adversely affect the rights of any Holder of a 6% Security. 
  

	11.	Restrictive Covenants. 

 The Indenture imposes certain limitations on the ability of the Company, the Subsidiary Guarantors and any of their respective Restricted Subsidiaries to, among other things, incur additional
Indebtedness and issue Disqualified Stock, pay dividends or make certain other Restricted Payments, enter into certain transactions with Affiliates, incur Liens, sell assets and subsidiary stock, merge or consolidate with any other Person or
transfer (by lease, assignment or otherwise) substantially all of the properties and assets of the Company. The limitations are subject to a number of important qualifications and exceptions and certain restrictive covenants will cease to be
applicable under certain circumstances. The Company must periodically report to the Trustee on compliance with such limitations. 
  

	12.	Repurchase at Option of Holder. 

 (a) If there is a Change of Control Triggering Event, the Company shall be required to offer irrevocably to purchase on the Change of Control Purchase Date all outstanding 6% Securities at a purchase
price equal to 101% of the principal amount thereof, plus (subject to the right of Holders of record on a Record Date that is on or prior to such Change of Control Purchase Date to receive interest due on the Interest Payment Date to which such
Record Date relates) accrued and unpaid interest, if any, to the Change of Control Purchase Date. Holders of 6% Securities will receive a Change of Control Offer from the Company prior to any related Change of Control Purchase Date and may elect to
have such 6% Securities purchased by completing the form entitled “Option of Holder to Elect Purchase” appearing below. 

  
 A-8

 (b) The Company will not be required to make a Change of Control Offer upon a Change of
Control Triggering Event if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in the Indenture applicable to a Change of Control Offer made by the Company
and purchases all notes properly tendered and not withdrawn under the Change of Control Offer, or (2) notice of redemption has been given pursuant to the Indenture as described above under paragraph 5, unless and until there is a default in
payment of the applicable redemption price. 
 (c) The Indenture imposes certain limitations on the ability of the
Company, the Subsidiary Guarantors or any of their respective Restricted Subsidiaries to sell assets and subsidiary stock. In the event the Net Cash Proceeds from a permitted Asset Sale exceed certain amounts, as specified in the Indenture, the
Company will be required either to reinvest the proceeds of such Asset Sale in a Related Business or other permitted investments, repay certain Indebtedness or to make an offer to purchase each Holder’s 6% Securities at 100% of the principal
amount thereof, plus accrued interest, if any, to the purchase date. The limitations and the Company’s obligations with respect to the use of proceeds from an Asset Sale are subject to a number of important qualifications and exceptions and
will cease to be applicable under certain circumstances. 
  

	13.	Notation of Guarantee. 

 As set forth more fully in the Indenture, the Persons constituting Subsidiary Guarantors from time to time, in accordance with the provisions of the Indenture, irrevocably and unconditionally and
jointly and severally guarantee, in accordance with Section 12.1 of the Indenture, to the Holders and to the Trustee and its successors and assigns, that (i) the principal of and interest on the 6% Securities will be paid, whether at the
Stated Maturity or Interest Payment Dates, by acceleration, call for redemption or otherwise, and all other obligations of the Company to the Holders or the Trustee under the Indenture or this 6% Security will be promptly paid in full or performed,
all in accordance with the terms of the Indenture and this 6% Security, and (ii) in the case of any extension of payment or renewal of this 6% Security or any of such other obligations, they will be paid in full when due or performed in
accordance with the terms of such extension or renewal, whether at the Stated Maturity, as so extended, by acceleration or otherwise. Such Guarantees shall cease to apply, and shall be null and void, with respect to any such guarantor who, pursuant
to Article 12 of the Indenture, is released from its Guarantees, or whose Guarantees otherwise cease to be applicable pursuant to the terms of the Indenture. 
  

	14.	Successor. 

When a successor assumes all the obligations of its predecessor under the 6% Securities and the Indenture, the predecessor will be
released from those obligations. 
  

	15.	Defaults and Remedies. 

 If an Event of Default with respect to the 6% Securities occurs and is continuing (other than an Event of Default relating to bankruptcy, insolvency or

  
 A-9

 
reorganization of the Company), then either the Trustee or the Holders of 25% in aggregate principal amount of the 6% Securities then outstanding may declare all 6% Securities to be due and
payable immediately in the manner and with the effect provided in the Indenture. Holders of 6% Securities may not enforce the Indenture or the 6% Securities, except as provided in the Indenture. The Trustee may require indemnity satisfactory to it
before it enforces the Indenture or the 6% Securities. Subject to certain limitations, Holders of a majority in principal amount of the then outstanding 6% Securities may direct the Trustee in its exercise of any trust or power with respect to such
6% Securities. The Trustee may withhold from Holders of 6% Securities notice of any continuing Default or Event of Default (except a Default in payment of principal or interest) if it determines that withholding notice is in their interest.

  

	16.	Trustee and Agent Dealings with Company. 

 The Trustee and each Agent under the Indenture, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or any Subsidiary Guarantor or any
of their Subsidiaries or any of their respective Affiliates, and may otherwise deal with such Persons as if it were not the Trustee or such agent. 
  

	17.	No Recourse Against Others. 

 No recourse for the payment of the principal of, premium, if any, or interest on the 6% Securities or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any
obligation, covenant or agreement of the Company or the Subsidiary Guarantors in the Indenture, or in the 6% Securities or because of the creation of any Indebtedness represented thereby, shall be had against any incorporator, partner, stockholder,
officer, director, employee or controlling Person of the Company or the Subsidiary Guarantors or of any successor Person thereof, except as an obligor or guarantor of the 6% Securities pursuant to the Indenture. Each Holder, by accepting the 6%
Securities, waives and releases all such liability. 
  

	18.	Authentication. 

This 6% Security shall not be valid until the Trustee or authenticating agent signs the certificate of authentication on the other side
of this 6% Security. 
  

	19.	Abbreviations and Defined Terms. 

 Customary abbreviations may be used in the name of a Holder of a 6% Security or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with
right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
  

	20.	CUSIP Numbers. 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company will cause CUSIP
numbers to be printed 

  
 A-10

 
on the 6% Securities as a convenience to the Holders of the 6% Securities. No representation is made as to the accuracy of such numbers as printed on the 6% Securities and reliance may be placed
only on the other identification numbers printed hereon. 
  

	21.	 Additional Rights of Holders of Transfer Restricted Notes.7 

 In addition to the rights provided to Holders of 6% Securities under the Indenture, Holders of Transfer Restricted Notes shall have all the rights set forth in the Registration Rights Agreement dated
as of the date of the Forty-First Supplemental Indenture, among the Company, the Subsidiary Guarantors and the Initial Purchasers. 
  

	22.	Governing Law. 

THE INDENTURE AND THE 6% SECURITIES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK INCLUDING,
WITHOUT LIMITATION, SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW AND NEW YORK CIVIL PRACTICE LAWS AND RULES 327(b). 

 

	7	 To be included
only on Transfer Restricted Notes. 

  
 A-11

 [FORM OF ASSIGNMENT] 
 I or we assign this Security to 
  
  

 
  

 
  

 
 (Print or type name, address and zip code of
assignee) 
 Please insert Social Security or other identifying number of assignee 

 

	
	  

 and irrevocably appoint
                    agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 

									
	Dated:	 	
                    
 
	 		 	Signed:	 	  

		 		 		 		 	(Sign exactly as name appears on the other side of this Security)

  

					
	Signature Guarantee**	 	  
	 	

  

	**	NOTICE: The Signature must be guaranteed by an Institution which is a member of one of the following recognized signature Guarantee Programs: (i) The Securities
Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) in such other guarantee program acceptable to the Trustee.

  
 A-12

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Company pursuant to Section 5.04 of the Forty-First Supplemental
Indenture or Article 10 of the Indenture, check the appropriate box: 
  ̈
Section 5.04 
  ̈ Article 10. 

If you want to elect to have only part of this Security purchased by the Company pursuant to Section 5.04 or Article 10 of the
Indenture, as the case may be, state the amount you want to be purchased: $        . 
  

									
	Date:	 	  
	 		 	Signature:	 	  

		 		 		 		 	(Sign exactly as your name appears on the other side of this Security)

									
					
	Signature Guarantee***	 	  
	 		 		 	

  

	***	NOTICE: The Signature must be guaranteed by an Institution which is a member of one of the following recognized signature Guarantee Programs: (i) The Securities
Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) in such other guarantee program acceptable to the Trustee.

  
 A-13

 SCHEDULE OF EXCHANGES8 
 The following exchanges of a part of this Global Security have been made: 
  

									
	 Date of Exchange
	 	 Amount of decrease in

Principal Amount of this
 Global Note
	 	 Amount of increase in

Principal Amount of this
 Global Note
	 	 Principal Amount of this

Global Note following such
 decrease (or increase)
	 	 Signature of

authorized officer of
 Trustee or Note Custodian

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

  

	8 	This should be included only if the Security is issued in global form. 

  
 A-14

 EXHIBIT B 
 FORM OF CERTIFICATE OF TRANSFER 
 Host Hotels & Resorts, L.P. 

6903 Rockledge Drive, Suite 1500 

Bethesda, Maryland 20817 
 Attention:
Chief Financial Officer 
 The Bank of New York Mellon 
 101 Barclay Street 
 New York, New York 10286 

Attention: Corporate Trust Department 
 Re: 6% Series Y Senior Notes due 2021 
 Dear Sirs: 

Reference is hereby made to the Amended and Restated Indenture, dated as of August 5, 1998 (the “Base Indenture”),
among HMH Properties, Inc., its Parents and the Subsidiary Guarantors named therein (collectively, the “Subsidiary Guarantors”) and The Bank of New York (the “Trustee”), and the Forty-First Supplemental Indenture to the Base
Indenture, dated as of November 18, 2011 (the “Forty-First Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), among Host Hotels & Resorts, L.P., as issuer (the “Company”), the
Subsidiary Guarantors and the Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.
                    , (the “Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto,
in the principal amount of $        in such Note[s] or interests (the “Transfer”), to
                    (the “Transferee”), as further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby
certifies that: 

  
 B-1

 [CHECK ALL THAT APPLY] 
 1.  ̈ Check if Transferee will take delivery of a beneficial interest in the 144A Restricted Global Note or a Certificated Note pursuant to
Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the beneficial
interest or Certificated Note is being transferred to a Person that the Transferor reasonably believed and believes is purchasing the beneficial interest or Certificated Note for its own account, or for one or more accounts with respect to which
such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A, and such Transfer is in
compliance with any applicable blue sky securities laws of any state of the United States and the restrictions set forth in the Private Placement Legend. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Certificated Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Rule 144A Global Note and/or the Certificated Note and in the Indenture and the Securities
Act. 
 2.  ̈ Check if Transferee will take delivery of a beneficial
interest in the Regulation S Global Note or a Restricted Certificated Note pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor
hereby further certifies that (i) the Transfer is not being made to a Person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person acting on
its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither such Transferor nor any
Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under
the Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the proposed transfer is being made prior to the expiration of the Regulation S Restricted
Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser and such Transfer is in compliance with any applicable blue sky securities laws of any State of the United States
and the restrictions set forth in the Private Placement Legend). Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Certificated Note will be subject to the restrictions
on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Restricted Certificated Note and in the Indenture and the Securities Act. 

  
 B-2

 3.  ̈ Check and complete if Transferee will
take delivery of a beneficial interest in the Restricted Certificated Note pursuant to any provision of the Securities Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable
to beneficial interests in Restricted Global Notes and Restricted Certificated Notes and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United States, and accordingly the
Transferor hereby further certifies that (check one): 
 (a)  ̈ such
Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act; 
 or 

(b)  ̈ such Transfer is being effected to the Company or a subsidiary thereof;

 or 
 (c)  ̈ such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance with the prospectus delivery requirements of the Securities Act;

 or 
 (d)  ̈ such Transfer is being effected to an Institutional Accredited Investor and pursuant to an exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 144, Rule
903 or Rule 904 and the Transferor hereby further certifies that it has not engaged in any general solicitation within the meaning of Regulation D under the Securities Act and the Transfer complies with the transfer restrictions applicable to
beneficial interests in a Restricted Global Note or Restricted Certificated Notes (including those set forth in the Private Placement Legend) and the requirements of the exemption claimed, which certification is supported by (1) a certificate
executed by the Transferee in the form of Exhibit D to the Forty-First Supplemental Indenture and (2) if such Transfer is in respect of a principal amount of Series Y Notes at the time of transfer of less than $250,000, an Opinion of Counsel
provided by the Transferor or the Transferee (a copy of which the Transferor has attached to this certification and provided to the Company, which has confirmed its acceptability), to the effect that such Transfer is in compliance with the
Securities Act. Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the Certificated Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on Restricted
Certificated Notes and in the Indenture and the Securities Act. 
 4.  ̈
Check if Transferee will take delivery of a transferred beneficial interest in an Unrestricted Global Note or of an Unrestricted Certificated Note. 

  
 B-3

 (a)  ̈ Check if Transfer is pursuant to Rule
144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of
the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or Certificated Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on
Restricted Certificated Notes and in the Indenture and the Securities Act. 
 (b)
 ̈ Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance
with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Certificated Note will no longer be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Certificated Notes and in the Indenture. 
 The Transferor hereby further certifies that: 
 (a) the
offer of the beneficial interest or Certificated Note being transferred was not made to a person in the United States; 
 (b) either: 
 (i) at the time the buy order was
originated, the Transferee was outside the United States or the Transferor and any person acting on its behalf reasonably believed that the Transferee was outside the United States; or 

(ii) the transaction was executed in, on or through the facilities of a designated offshore securities market and
neither the Transferor nor any person acting on its behalf knows that the transaction was prearranged with a buyer in the United States; 
 (c) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable; and 

(d) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

  
 B-4

 Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Certificated Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Certificated Notes and in the Indenture and the
Securities Act. 
 (b)  ̈ Check if Transfer is Pursuant to Other Exemption.
(i) The Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in
the Indenture and any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with
the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Certificated Note will not be subject to the restrictions on transfer enumerated in the Private
Placement Legend printed on the Restricted Global Notes or Restricted Certificated Notes and in the Indenture. 
 This
certificate and the statements contained herein are made for your benefit and the benefit of the Company. 
  

									
	  
	 		 	Dated:	 	  

	[Insert Name of Transferor]	 		 		 	
					
	By:	 	  
	 		 		 	
		 	Name:	 		 		 	
		 	Title:	 		 		 	

  
 B-5

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

	1.	The Transferor owns and proposes to transfer the following: 

 [CHECK ONE OF (a) OR (b)] 
 (a)
 ̈ a beneficial interest in the: 
 (i)  ̈ 144A Global Note (CUSIP                     ), or 

(ii)  ̈ Regulation S Global Note (CUSIP
                    ), or 

(b)  ̈ a Restricted Certificated Note. 

 

	2.	After the Transfer the Transferee will hold: 

 [CHECK ONE] 
 (a)  ̈ a beneficial
interest in the: 
 (i)  ̈ 144A Global Note (CUSIP
                    ), or 
 (ii)  ̈ Regulation S Global Note (CUSIP
                    ), or 
 (iii)  ̈ Unrestricted Global Note (CUSIP
                    ); or 

(b)  ̈ a Restricted Certificated Note; or 

(c)  ̈ an Unrestricted Certificated Note, 

in accordance with the terms of the Indenture. 

  
 B-6

 EXHIBIT C 
 FORM OF CERTIFICATE OF EXCHANGE 
 Host Hotels & Resorts, L.P. 

6903 Rockledge Drive, Suite 1500 

Bethesda, Maryland 20817 
 Attention:
Chief Financial Officer 
 The Bank of New York Mellon 
 101 Barclay Street 
 New York, New York 10286 

Attention: Corporate Trust Department 
 Re: 6% Series Y Senior Notes due 2021 
 Dear Sirs: 

Reference is hereby made to the Amended and Restated Indenture, dated as of August 5, 1998 (the “Base Indenture”),
among HMH Properties, Inc., its Parents and the Subsidiary Guarantors named therein (collectively, the “Subsidiary Guarantors”) and The Bank of New York, as trustee (the “Trustee”), and the Forty-First Supplemental Indenture to
the Base Indenture, dated as of November 18, 2011 (the “Forty-First Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), among Host Hotels & Resorts, L.P., as issuer (the
“Company”), the Subsidiary Guarantors and the Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 
                     , (the “Owner”) owns and proposes to exchange the Note[s] or interest
in such Note[s] specified herein, in the principal amount of $        in such Note[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that: 

1. Exchange of Restricted Certificated Notes or Beneficial Interests in a Restricted Global Note for Unrestricted Certificated Notes or Beneficial
Interests in an Unrestricted Global Note 
 (a)  ̈ Check if Exchange is from
beneficial interest in a Restricted Global Note to beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest in an
Unrestricted Global Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the
transfer restrictions applicable to the Global Notes and pursuant to and in accordance with the Securities Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the
Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky securities laws of
any state of the United States. 

  
 C-1

 (b)  ̈ Check if Exchange is from beneficial interest in a
Restricted Global Note to Unrestricted Certificated Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Certificated Note, the Owner hereby certifies (i) the
Certificated Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance
with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Certificated Note is being
acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 (c)
 ̈ Check if Exchange is from Restricted Certificated Note to beneficial interest in an Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted Certificated Note for
a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the
transfer restrictions applicable to Restricted Certificated Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in
order to maintain compliance with the Securities Act and (iv) the beneficial interest is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

(d)  ̈ Check if Exchange is from Restricted Certificated Note to Unrestricted Certificated Note. In
connection with the Owner’s Exchange of a Restricted Certificated Note for an Unrestricted Certificated Note, the Owner hereby certifies (i) the Unrestricted Certificated Note is being acquired for the Owner’s own account without
transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Certificated Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained
in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Certificated Note is being acquired in compliance with any applicable blue sky securities laws
of any state of the United States. 
 2. Exchange of Restricted Certificated Notes or Beneficial Interests in Restricted Global Notes for
Restricted Certificated Notes or Beneficial Interests in Restricted Global Notes 
 (a)
 ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to Restricted Certificated Note. In connection with the Exchange of the Owner’s beneficial interest in a
Restricted Global Note for a Restricted Certificated Note with an equal principal 

  
 C-2

 
amount, the Owner hereby certifies that the Restricted Certificated Note is being acquired for the Owner’s own account without transfer. Upon consummation of the proposed Exchange in
accordance with the terms of the Indenture, the Restricted Certificated Note issued will continue to be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Certificated Note and in the
Indenture and the Securities Act. 
 (b)  ̈ Check if Exchange is from Restricted Certificated
Note or Unrestricted Certificated to beneficial interest in a Restricted Global Note. In connection with the Exchange of the Owner’s Restricted Certificated Note for a beneficial interest in the [CHECK ONE]

 144A Global Note,

 Regulation S Global Note with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such Exchange has
been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in compliance with any applicable blue sky securities laws of any state of the United
States. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the relevant
Restricted Global Note and in the Indenture and the Securities Act. 
 This certificate and the statements contained herein are made for your
benefit and the benefit of the Company. 
  

			
	  

	[Insert Name of Owner]
		
	By:	 	  

		 	Name:
		 	Title:
		
	Dated:	 	  

  
 C-3

 EXHIBIT D 
 FORM OF CERTIFICATE FROM ACQUIRING 
 INSTITUTIONAL ACCREDITED INVESTOR

 Host Hotels & Resorts, L.P. 
 6903 Rockledge Drive 
 Bethesda, Maryland 20817 

Attention: Chief Financial Officer 

The Bank of New York Mellon 
 101
Barclay Street 
 New York, New York 10286 
 Attention: Corporate Trust Department 
 Re: 6% Series Y Senior Notes due
2021 
 Dear Sirs: 
 Reference is hereby made to the Amended and Restated Indenture, dated as of August 5, 1998 (the “Base Indenture”), among HMH Properties, Inc., its Parents and the Subsidiary Guarantors
named therein (collectively, the “Subsidiary Guarantors”) and The Bank of New York, as trustee (the “Trustee”), and the Forty-First Supplemental Indenture to the Base Indenture, dated as of November 18, 2011 (the
“Forty-First Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), among Host Hotels & Resorts, L.P., as issuer (the “Company”), the Subsidiary Guarantors and the Trustee. Capitalized
terms used but not defined herein shall have the meanings given to them in the Indenture. 
 In connection with our
proposed purchase of $        aggregate principal amount of: (a) a beneficial interest in a Global Note, or (b) a Certificated Note, we confirm that: 

1. We understand that any subsequent transfer of the Securities or any interest therein is subject to certain restrictions and
conditions set forth in the Indenture and the undersigned agrees to be bound by, and not to resell, pledge or otherwise transfer the Securities or any interest therein except in compliance with, such restrictions and conditions and the United States
Securities Act of 1933, as amended (the “Securities Act”). 
 2. We understand that the offer and sale of the
Securities have not been registered under the Securities Act, and that the Securities and any interest therein may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for
which we are acting as hereinafter stated, that if we should sell the Securities or any interest therein, we will do so only (a) to a person who is a qualified institutional buyer in a transaction meeting the requirements of Rule 144A,
(b) pursuant to an exemption from registration under the Securities Act provided by Rules 144 thereunder (if available), (c) to an institutional “accredited investor” (as defined in Rule 501 (a)(1), (2), (3) or (7) of
Regulation D under the Securities Act) that, prior to such 

  
 D-1

 
transfer, furnishes the trustee a signed letter containing certain representations and agreements relating to the transfer of this Security (the form of which can be obtained from the trustee)
and, if such transfer is for less than an aggregate principal amount of $250,000, an opinion of counsel reasonably acceptable to the Company, if requested by the Company, that the transfer is exempt from registration under the Securities Act,
(d) outside the United States in a transaction complying with the provisions of Rule 904 under the Securities Act, (e) in accordance with another exemption from the registration requirements of the Securities Act (and based upon an opinion
of counsel reasonably acceptable to the Company, if requested by the Company), or (f) to the Company or any Subsidiary Guarantor and, in each case, in accordance with the applicable securities laws of any state of the United States or any other
applicable jurisdiction; provided, however, that for any transaction pursuant to clauses (a) through (d) occurring within one year of the date of issuance of the Securities by the Company, the purchaser of the Securities will represent
that is a “qualified person” as defined in Section 49(a)(1)(D)(iv) of the Internal Revenue Code of 1986, as amended (the “Code”). We will, and we will inform each subsequent purchaser that such subsequent purchaser is
required to, notify any subsequent purchaser from it as to the resale restrictions set forth in the preceding sentence. 

3. We understand that, on any proposed resale of the Securities or beneficial interest therein, we will be required to furnish to you
and the Company such certifications, legal opinions and other information as you and the Company may reasonably require to confirm that the proposed sale complies with the foregoing restrictions. We further understand that the Securities purchased
by us will bear a legend to the foregoing effect. 
 4. We are an institutional “accredited investor” (as
defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act) and have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the
Securities, and we and any accounts for which we are acting are each able to bear the economic risk of our or its investment. We are also a “qualified person” as defined above. 

5. We are acquiring the Securities or beneficial interest therein purchased by us for our own account or for one or more accounts
(each of which is an institutional “accredited investor”) as to each of which we exercise sole investment discretion. 
 You and the Company are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. 
  

							
	  
	 		 	Dated:	 	  

	[Insert Name of Accredited Investor]	 		 		 	

  
 D-2

			
	By:	 	  

		 	Name:
		 	Title:

  
 D-3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00196-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00196-of-00352.parquet"}]]