Document:

First Amend to Second Amended and Restated Agree of Ltd Partnership of Innkeeper

 10.1(b) 
  
 FIRST AMENDMENT 
 TO SECOND AMENDED AND RESTATED
AGREEMENT OF 
 LIMITED PARTNERSHIP 
 OF 
 INNKEEPERS USA LIMITED PARTNERSHIP 
  
 THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF INNKEEPERS USA LIMITED PARTNERSHIP (this “Amendment”),
dated as of July 1, 1997, recites and provides as follows: 
  
 RECITALS: 
  
 A. Innkeepers USA
Limited Partnership (the “Partnership”) was formed as a limited partnership under the laws of the Commonwealth of Virginia by a Certificate of Limited Partnership filed with the Secretary of State of the Commonwealth of Virginia on May
23,1994, as amended by an Amended Certificate of Limited Partnership filed on July 8, 1994. The Partnership originally was governed by an Agreement of Limited Partnership dated May 23, 1994 (the “Original Agreement”) among Innkeepers USA
Trust, a Maryland real estate investment trust (the “Company”), as general partner, and Jeffrey H. Fisher and Frederic Shaw, as limited partners. 
  
 B. The Original Agreement was amended and restated on September 30, 1994 (the “First Amended Agreement”) to admit Additional Limited Partners
(as defined in the First Amended Agreement) to the Partnership. The First Amended Agreement was amended on March 22,1995 (the “First Amendment to the First Amended Agreement”) to (i) admit Innkeepers Financial Corporation, a Virginia
corporation (in its capacity as the general partner of the Partnership, the “General Partner”), as the general partner and a limited partner of the Partnership, (ii) provide for the withdrawal of the Company as the general partner and a
limited partner of the Partnership, and (iii) amend and add provisions required to facilitate a financing secured by Partnership assets. 
  
 C. The First Amended Agreement was further amended and restated on November 1, 1996 (the “Seconded Amended and Restated Agreement”). The General
Partner, for itself and on behalf of the limited partners of the Partnership, desires to further amend the Second Amended Agreement to remove the requirement for lender consent on actions by the Partnership. 
  

 AGREEMENT: 
  
 NOW, THEREFORE, in consideration of the foregoing, of mutual covenants between the parties hereto, and of other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree to amend the Second Amended and Restated Agreement (as amended, the “Partnership Agreement”), as follows: 
  
 1. Amendment 
  
 (a) The following sections of the Partnership Agreement are hereby deleted in their entirety: 
  
 (i) Section 3.02(a) 
  
 (ii) Section 4.03 
  
 (iii) Section 6.02 
  
 (b) Section 2.04(b) of the Partnership Agreement is hereby
deleted in its entirety and the following is substituted in lieu thereof: 
  
 “Upon dissolution of the Partnership, the Partnership shall not liquidate the Properties (i) until all debt that is secured by the Properties has been (or will with the proceeds of the liquidation be) paid in
full or otherwise completely discharged, or (ii) except as permitted by the holder(s) of the debt secured by a Property being liquidated.” 
  
 (c) Section 7.03(b) of the Partnership Agreement is hereby deleted in its entirety and the following is substituted in lieu thereof:

  
 “Following the occurrence of an Event of Bankruptcy as
to a General Partner or the withdrawal or dissolution of a General Partner (except that, if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to, or removal of a partner in,
such partnership shall be deemed not to be a dissolution of such General Partner if the business of such General Partner is continued by the remaining partner or partners), the Limited Partners, within 30 days after such occurrence, may elect to
reconstitute the Partnership and continue the business of the Partnership for the balance of the term specified in Section 2.04 hereof by selecting, subject to Section 7.02 hereof and any other provisions of this Agreement, a substitute General
Partner by unanimous consent of the Limited Partners. If the Limited Partners elect to reconstitute the Partnership and admit a substitute General Partner, the relationship with the Partners and of any Person who has acquired an interest of a
Partner in the Partnership shall be governed by this Agreement.” 
  

 2. Ratification. Except as specifically modified hereby, the terms and provisions of the
Partnership Agreement are hereby ratified and confirmed and remain in full force and effect. 
  
 3. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be an original, but such counterparts together shall constitute one and the same Amendment. Any signature page
to any such counterpart may be detached from such counterpart without impairing the legal effect of the signatures thereon and thereafter attached to another counterpart identical thereto, except having attached to it such additional signature
pages. 
  
 IN WITNESS WHEREOF, the General Partner, pursuant to
Article XI of the Partnership Agreement, has caused its duly authorized representative to execute this First Amendment to Second Amended and Restated Agreement of Limited Partnership. 
  

			
	INNKEEPERS FINANCIAL CORPORATION,
a Virginia corporation, sole general partner of Innkeepers USA Limited Partnership, a Virginia limited partnership
		
	By:	 	 /s/ Jeffery H. Fisher

	 	 	

	 	 	 Jeffery H. Fisher, PresidentSecond Amend to Second Amended and Restated Agree of Ltd Partnership of Innkeepe

 10.1(c) 
  
 SECOND AMENDMENT TO SECOND AMENDED AND RESTATED AGREEMENT 
 OF LIMITED PARTNERSHIP 
  
 This Second Amendment to Second Amended and Restated Agreement of Limited Partnership (the “Amendment”) is made as the 23rd day of July 1997, among Innkeepers Financial Corporation, a Virginia corporation and sole general partner
of Innkeepers USA Limited Partnership (the “Partnership”) and the limited partners listed on Schedule A (the “Limited Partners”) to the Partnership’s Second Amended and Restated Agreement of Limited Partnership dated
as of November 1, 1996 as amended by the First Amendment to Second Amended and Restated Agreement of Limited Partnership (collectively, the “Agreement”) and recites and provides as follows: 
  
 RECITALS 
  
 The Partnership was formed as a limited partnership under the laws of the Commonwealth of Virginia upon the filing of its
Certificate of Limited Partnership with the Virginia State Corporation Commission on May 23, 1994, as amended by an amended Certificate of Limited Partnership filed on June 8, 1994. The Partnership is governed by the Agreement. 
  
 The purpose of this Amendment is to amend certain provisions of the
Agreement. 
  
 AMENDMENT 
  
 NOW, THEREFORE, in consideration of the foregoing, the mutual promises of the
parties hereto and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  

	 	1.	Section 8.05(b) and Section 8.05(c) of Article VIII of the Agreement are deleted in their entirety and the following is substituted in lieu thereof: 

  
 (b) Notwithstanding the provisions of Section 8.05(a), the
Company may, in its sole and absolute discretion, assume directly and satisfy a Redemption Right by paying to the Redeeming Partner the Redemption Amount on the Specified Redemption Date, whereupon the Company shall acquire the Common Partnership
Units offered for redemption by the Redeeming Partner and shall be treated for all purposes of this Agreement as the owner of such Common Partnership Units. In the event the Company shall exercise its right to satisfy the Redemption Right in the
manner described in the preceding sentence, the Partnership shall have no obligation to pay any amount to the Redeeming Partner with respect to such Partner’s exercise of the Redemption Right, and each of the Redeeming Partner, the Partnership,
and the Company shall treat the transaction between the Company and the Redeeming Partner as a sale of such Partner’s Common Partnership Units to the Company for federal income tax purposes. Each Redeeming Partner agrees to execute such
documents as the Company may reasonably require in connection with the issuance of REIT shares upon exercise of the Redemption Right. 
  

 (c) The Partnership or the Company, as the case may be, shall pay the Cash Amount to a
Redeeming Partner as the Redemption Amount for such Partner if (i) the acquisition of REIT shares by such Partner on the Specified Redemption Date would (A) result in such Partner or any other person owning, directly or indirectly, REIT Shares in
excess of the “Ownership Limit,” as defined in the Declaration of Trust and calculated in accordance therewith, except as provided in the Declaration of Trust, (B) result in REIT Shares being owned by fewer than 100 persons (determined
without reference to any rules of attribution), except as provided in the Declaration of Trust, (C) result in the Company being “closely held” within the meaning of Section 856(h) of the Code, (D) cause the Company to own, actually or
constructively, 10% or more of the ownership interests in a tenant of the Company’s or the Partnership’s real property, within the meaning of Section 856(d)(2)(B) of the Code or (E) cause the acquisition of REIT Shares by such Partner to
be “integrated” with any other distribution of REIT Shares for purposes of complying with the registration provisions of the Securities Act or (ii) the Partnership or the Company, as the case may be, so elects in its sole discretion. Any
Cash Amount to be paid to a Redeeming Partner pursuant to this Section 8.05 shall be paid within sixty (60) days after the initial date of receipt by the General Partner of the Notice of Redemption relating to the Common Partnership Units to be
redeemed; provided, however, that such sixty (60) day period may be extended for up to an additional one hundred eighty (180) days to the extent required for the Company to cause additional REIT Shares to be issued to provide financing
to be used to make such payment of the Cash Amount. Notwithstanding the foregoing, the Company and the Partnership agree to use their best efforts to cause the closing of the acquisition of redeemed Common Partnership Units hereunder to occur as
quickly as reasonably possible. 
  

	 	2.	Except as specifically amended hereby, the terms of the Agreement shall remain in full force and effect. 

  

 2 

 IN WITNESS WHEREOF, the sole general partner of the Partnership caused this Second Amendment to the
Second Amended and Restated Agreement of Limited Partnership to be executed as of the date first above written. 
  

			
	INNKEEPERS FINANCIAL CORPORATION, a Virginia corporation, sole general partner
		
	By:	 	 /s/    David Bulger        

	 	 	

	 Name:
	 	 David Bulger

	 Title:
	 	CHIEF FINANCIAL OFFICER AND TREASURER
	
	INNKEEPERS USA TRUST, a Maryland real estate investment trust, as a non-partner Party to the Second Amended and Restated Agreement of Limited Partnership, as amended
hereby
		
	By:	 	 /s/    David Bulger        

	 	 	

	 Name:
	 	 David Bulger

	 Title:
	 	CHIEF FINANCIAL OFFICER AND TREASURER

  

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