Common use of AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT Clause in Contracts

AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT. SECTION 2.01. The Advances and the Letters of Credit ‌ 71 SECTION 2.02. Making the Advances; Applicable Borrowers ‌ 78 SECTION 2.03. Letters of Credit ‌ 82 SECTION 2.04. Repayment of Advances; Reimbursements ‌ 85 SECTION 2.05. Termination or Reduction of the Commitments ‌ 87 SECTION 2.06. Prepayments ‌ 88 SECTION 2.07. Interest ‌ 89 SECTION 2.08. Fees ‌ 96 SECTION 2.09. Conversion of Advances ‌ 97 SECTION 2.10. Increased Costs, Etc. ‌ 98 SECTION 2.11. Payments and Computations ‌ 101 SECTION 2.12. Taxes ‌ 104 SECTION 2.13. Sharing of Payments, Etc. ‌ 111 SECTION 2.14. Use of Proceeds ‌ 112 SECTION 2.15. Evidence of Debt ‌ 112 SECTION 2.16. Extension of Termination Date ‌ 113 SECTION 2.17. Cash Collateral Account ‌ 114 SECTION 2.18. Increase in the Aggregate Commitments ‌ 115 SECTION 2.19. Reallocation of Commitments ‌ 117 SECTION 2.20. Supplemental Tranches ‌ 119 SECTION 2.21. Defaulting Lenders ‌ 120 SECTION 2.22. Reallocation of Lender Pro Rata Shares; No Novation ‌ 122 SECTION 2.23. Sustainability Adjustments ‌ 122 ARTICLE III CONDITIONS OF LENDING AND ISSUANCES OF LETTERS OF CREDIT SECTION 3.01. Conditions Precedent to Initial Extension of Credit ‌ 124 SECTION 3.02. Conditions Precedent to Each Borrowing, Issuance, Renewal, Commitment Increase, Extension and Creation ‌ 128 SECTION 3.03. Intentionally Omitted ‌ 129 SECTION 3.04. Additional Conditions Precedent ‌ 129 SECTION 3.05. Determinations Under Section 3.01 ‌ 129 ARTICLE IV REPRESENTATIONS AND WARRANTIES SECTION 4.01. Representations and Warranties of the Loan Parties ‌ 129 i 4877-0337-8128.7 ​ ​

AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT. SECTION Section 2.01. The Committed Advances and the Letters of Credit ‌ 71 SECTION 20 Section 2.02. Making the Advances; Applicable Borrowers ‌ 78 SECTION Committed Advances 21 Section 2.03. The Competitive Bid Advances 23 Section 2.04. Issuance and Renewals and Drawings, Participations and Reimbursement with Respect to Letters of Credit ‌ 82 SECTION 2.0427 Section 2.05. Repayment of Advances; Reimbursements ‌ 85 SECTION 2.05Advances 30 Section 2.06. Termination or Reduction of the Commitments ‌ 87 SECTION 2.0632 Section 2.07. Prepayments ‌ 88 SECTION 2.0732 Section 2.08. Interest ‌ 89 SECTION 2.0832 Section 2.09. Fees ‌ 96 SECTION 2.0934 Section 2.10. Conversion of Advances ‌ 97 SECTION 2.1034 Section 2.11. Increased Costs, Etc. ‌ 98 SECTION 2.11Etc 35 Section 2.12. Payments and Computations ‌ 101 SECTION 2.1237 Section 2.13. Taxes ‌ 104 SECTION 2.13Taxes. 38 Section 2.14. Sharing of Payments, Etc. ‌ 111 SECTION 2.14Etc 42 Section 2.15. Use of Proceeds ‌ 112 SECTION 2.15. Evidence of Debt ‌ 112 SECTION 43 Section 2.16. Extension of Termination Date ‌ 113 SECTION Defaulting Lenders 43 Section 2.17. Cash Collateral Account ‌ 114 SECTION Replacement of Affected Lender 45 Section 2.18. Certain Provisions Relating to the Issuing Bank and Letters of Credit. 46 Section 2.19. Downgrade Event with Respect to a Lender 48 Section 2.20. Downgrade Event or Other Event with Respect to the Issuing Bank 50 Section 2.21. Non-Dollar Letters of Credit 50 Section 2.22. Increase in the Aggregate Commitments ‌ 115 SECTION 2.19. Reallocation of Commitments ‌ 117 SECTION 2.20. Supplemental Tranches ‌ 119 SECTION 2.21. Defaulting Lenders ‌ 120 SECTION 2.22. Reallocation of Lender Pro Rata Shares; No Novation ‌ 122 SECTION 52 Section 2.23. Sustainability Adjustments ‌ 122 ARTICLE III Registry 54 CONDITIONS OF LENDING AND ISSUANCES OF LETTERS OF CREDIT SECTION Section 3.01. Conditions Precedent to Initial Extension of Credit ‌ 124 SECTION Effectiveness 54 Section 3.02. Conditions Precedent to Each Borrowing, Committed Borrowing and Issuance, Renewal, Commitment Increase, Extension and Creation ‌ 128 SECTION or Increase of a Letter of Credit 57 Section 3.03. Intentionally Omitted ‌ 129 SECTION 3.04. Additional Conditions Precedent ‌ 129 SECTION 3.05. Determinations Under Section 3.01 ‌ 129 ARTICLE IV REPRESENTATIONS AND WARRANTIES SECTION 4.01. Representations and Warranties of the Loan Parties ‌ 129 i 4877-0337-8128.7 ​ ​to Each Competitive Bid Borrowing 57

AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT. SECTION 2.01. The Advances and the Letters of Credit ‌ 71 45 SECTION 2.02. Making the Advances; Applicable Borrowers ‌ 78 Advances 46 SECTION 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit ‌ 82 48 SECTION 2.04. Repayment of Advances; Reimbursements ‌ 85 Advances 50 SECTION 2.05. Termination or Reduction of the Commitments ‌ 87 51 SECTION 2.06. Prepayments ‌ 88 52 SECTION 2.07. Interest ‌ 89 53 SECTION 2.08. Fees ‌ 96 56 SECTION 2.09. Conversion of Advances ‌ 97 57 SECTION 2.10. Increased Costs, Etc. ‌ 98 58 SECTION 2.11. Payments and Computations ‌ 101 59 SECTION 2.12. Taxes ‌ 104 62 SECTION 2.13. Sharing of Payments, Etc. ‌ 111 66 SECTION 2.14. Use of Proceeds ‌ 112 67 SECTION 2.15. Evidence of Debt ‌ 112 67 SECTION 2.16. Extension Extensions of Termination Maturity Date ‌ 113 68 SECTION 2.17. [Intentionally Omitted] 70 SECTION 2.18. Defaulting Lenders 70 SECTION 2.19. Replacement of Lenders 72 SECTION 2.20. Cash Collateral Account ‌ 114 SECTION 2.18. Increase in the Aggregate Commitments ‌ 115 SECTION 2.19. Reallocation of Commitments ‌ 117 SECTION 2.20. Supplemental Tranches ‌ 119 SECTION 2.21. Defaulting Lenders ‌ 120 SECTION 2.22. Reallocation of Lender Pro Rata Shares; No Novation ‌ 122 SECTION 2.23. Sustainability Adjustments ‌ 122 ARTICLE III CONDITIONS OF LENDING AND ISSUANCES OF LETTERS OF CREDIT 73 SECTION 3.01. Conditions Precedent to Initial Extension of Credit ‌ 124 73 SECTION 3.02. Conditions Precedent to Each Borrowing, Issuance, Renewal, Commitment Increase, Renewal and Extension and Creation ‌ 128 78 SECTION 3.03. Intentionally Omitted ‌ 129 SECTION 3.04. Additional Conditions Precedent ‌ 129 SECTION 3.05. Determinations Under Section 3.01 ‌ 129 ARTICLE IV REPRESENTATIONS AND WARRANTIES and 3.02 80 AMERICAS/2023134647.11 i SECTION 4.01. Representations and Warranties of the Loan Parties ‌ 80 SECTION 5.01. Affirmative Covenants 86 SECTION 5.02. Negative Covenants 92 SECTION 5.03. Reporting Requirements 100 SECTION 5.04. Financial Covenants 104 SECTION 6.01. Events of Default 105 SECTION 6.02. Actions in Respect of the Letters of Credit upon Default 108 SECTION 7.01. Guaranty; Limitation of Liability 108 SECTION 7.02. Guaranty Absolute 109 SECTION 7.03. Waivers and Acknowledgments 110 SECTION 7.04. Subrogation 111 SECTION 7.05. Guaranty Supplements 112 SECTION 7.06. Indemnification by Guarantors 112 SECTION 7.07. Subordination 112 SECTION 7.08. Continuing Guaranty 113 SECTION 7.09. Keepwell 113 SECTION 8.01. Parallel Notes 114 SECTION 9.01. Authorization and Action; Appointment of Supplemental Collateral Agents 116 SECTION 9.02. Administrative Agent’s Reliance, Etc. 117 SECTION 9.03. Citibank and Affiliates 118 SECTION 9.04. Lender Party Credit Decision 118 SECTION 9.05. Indemnification by Lender Parties 119 SECTION 9.06. Successor Agents 120 SECTION 9.07. Relationship of Administrative Agent and Lenders 121 SECTION 9.08. Certain ERISA Matters 121 SECTION 9.09. Payments in Error 121 AMERICAS/2023134647.11 ii SECTION 10.01. Amendments, Etc. 124 SECTION 10.02. Notices, Etc. 126 SECTION 10.03. No Waiver; Remedies 128 SECTION 10.04. Costs and Expenses 128 SECTION 10.05. Right of Set-off 129 i 4877SECTION 10.06. Binding Effect 130 SECTION 10.07. Assignments and Participations; Replacement Notes 130 SECTION 10.08. Execution in Counterparts 134 SECTION 10.09. Severability 134 SECTION 10.10. Survival of Representations 134 SECTION 10.11. Usury Not Intended 134 SECTION 10.12. No Liability of Issuing Bank 135 SECTION 10.13. Confidentiality 135 SECTION 10.14. Release of Collateral 138 SECTION 10.15. Patriot Act Notification; Anti-0337Money Laundering Act; Beneficial Ownership 138 SECTION 10.16. Jurisdiction, Etc. 139 SECTION 10.17. Governing Law 139 SECTION 10.18. WAIVER OF JURY TRIAL 139 SECTION 10.19. No Fiduciary Duties 140 SECTION 10.20. Acknowledgement and Consent to Bail-8128.7 ​ ​In of Affected Financial Institutions 140 SECTION 10.21. Acknowledgement Regarding Any Supported QFCs 141 SCHEDULES Schedule I - Commitments and Applicable Lending Offices Schedule II - Borrowing Base Assets Schedule III - Existing Letters of Credit Schedule IV - Allocated Loan Amounts Schedule V - Urban Select Service Properties Schedule VI - Equity Pledgor Structure Requirements Schedule 4.01(b) - Subsidiaries Schedule 4.01(m) - Existing Debt Schedule 4.01(n) - Surviving Debt Schedule 4.01(o) - Existing Liens Schedule 4.01(p) - Real Property Part I - Owned Assets Part II - Leased Assets AMERICAS/2023134647.11 iii Part III - Management Agreements Part IV - Franchise Agreements Schedule 4.01(q) - Environmental Concerns Schedule 5.01(v) - [Post-Closing Matters] EXHIBITS Exhibit A-1 - Form of Revolving Credit Facility Note Exhibit A-2 - Form of Term Loan Note Exhibit B - Form of Notice of Borrowing Exhibit C - Form of Guaranty Supplement Exhibit D - Form of Assignment and Acceptance Exhibit E - Form of Availability Certificate Exhibit F-1 - Form of Section 2.12(g) U.S. Tax Compliance Certificate (For Foreign Lender Parties That Are Not Partnerships For U.S. Federal Income Tax Purposes) Exhibit F-2 - Form of Section 2.12(g) U.S. Tax Compliance Certificate (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) Exhibit F-3 - Form of Section 2.12(g) U.S. Tax Compliance Certificate (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) Exhibit F-4 - Form of Section 2.12(g) U.S. Tax Compliance Certificate (For Foreign Lender Parties That Are Partnerships For U.S. Federal Income Tax Purposes) Exhibit G - Form of Security Agreement Exhibit H - Form of Mortgage AMERICAS/2023134647.11 iv CREDIT AGREEMENT dated as of August 4, 2022 (this “Agreement”) among HERSHA HOSPITALITY LIMITED PARTNERSHIP, a Virginia limited partnership (the “Borrower”), HERSHA HOSPITALITY TRUST, a Maryland real estate investment trust (the “Parent Guarantor”), the entities listed on the signature pages hereof as the subsidiary guarantors (together with any Additional Guarantors (as hereinafter defined) acceding hereto pursuant to Section 5.01(j) or 7.05, the “Subsidiary Guarantors” and, together with the Borrower and the Parent Guarantor, the “Guarantors”), the banks, financial institutions and other institutional lenders listed on the signature pages hereof as the initial lenders (the “Initial Lenders”), CITIBANK, N.A. (“Citibank”) and XXXXX FARGO BANK, N.A., as the initial issuers of Letters of Credit (as hereinafter defined) (the “Initial Issuing Banks”) and CITIBANK, as administrative agent (in such capacity, together with any successor administrative agent appointed pursuant to Article IX, the “Administrative Agent”) for the Lender Parties (as hereinafter defined) and collateral agent (in such capacity, together with any successor collateral agent appointed pursuant to Article IX, the “Collateral Agent”, and together with the Administrative Agent, the “Agents”) for the Secured Parties (as hereinafter defined), with XXXXX FARGO BANK, N.A. and MANUFACTURERS AND TRADERS TRUST COMPANY, as Syndication Agents (the “Syndication Agents”), FIFTH THIRD BANK, NATIONAL ASSOCIATION and WILMINGTON SAVINGS FUND SOCIETY, FSB, as Co-Documentation Agents (the “Documentation Agents”), and CITIBANK, XXXXX FARGO SECURITIES, LLC and MANUFACTURERS AND TRADERS TRUST COMPANY, as joint lead arrangers and joint book running managers (the “Arrangers”). For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and subject to the terms and conditions hereof and on the basis of the representations and warranties herein set forth, the parties hereto agree as follows:

AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT. SECTION 2.01. The Advances and the Letters of Credit ‌ 71 36 SECTION 2.02. 2.02 Making the Advances; Applicable Borrowers ‌ 78 Advances 37 SECTION 2.03. 2.03 Issuance of and Drawings and Reimbursement Under Letters of Credit ‌ 82 41 SECTION 2.04. 2.04 Repayment of Advances; Reimbursements ‌ 85 Advances 44 SECTION 2.05. 2.05 Termination or Reduction of the Commitments ‌ 87 45 SECTION 2.06. 2.06 Prepayments ‌ 88 45 SECTION 2.07. 2.07 Interest ‌ 89 46 SECTION 2.08. 2.08 Fees ‌ 96 51 SECTION 2.09. 2.09 Conversion of Advances ‌ 97 53 SECTION 2.10. 2.10 Increased Costs, Etc. ‌ 98 53 SECTION 2.11. 2.11 Payments and Computations ‌ 101 55 SECTION 2.12. 2.12 Taxes ‌ 104 57 SECTION 2.13. 2.13 Sharing of Payments, Etc. ‌ 111 61 SECTION 2.14. 2.14 Use of Proceeds ‌ 112 61 SECTION 2.15. 2.15 Evidence of Debt ‌ 112 62 SECTION 2.16. Extension 2.16 Extensions of Termination RC Maturity Date ‌ 113 62 SECTION 2.17. Cash Collateral Account ‌ 114 SECTION 2.18. 2.17 Increase in the Aggregate Revolving Credit Commitments ‌ 115 63 SECTION 2.19. Reallocation of Commitments ‌ 117 SECTION 2.20. Supplemental Tranches ‌ 119 SECTION 2.21. 2.18 Defaulting Lenders ‌ 120 64 SECTION 2.22. 2.19 Cash Collateral Account 66 SECTION 2.20 Replacement of Lenders 68 SECTION 2.21 Reallocation of Lender Pro Rata Shares; No Novation ‌ 122 68 SECTION 2.23. Sustainability Adjustments ‌ 122 ARTICLE III CONDITIONS OF LENDING AND ISSUANCES OF LETTERS OF CREDIT SECTION 3.01. 3.01 Conditions Precedent to Initial Extension of Credit ‌ 124 70 SECTION 3.02. 3.02 Conditions Precedent to Each Borrowing, Issuance, Issuance and Renewal, Commitment Increase, Extension and Creation ‌ 128 Increase 72 SECTION 3.03. Intentionally Omitted ‌ 129 SECTION 3.04. Additional 3.03 Conditions Precedent ‌ 129 to Each Competitive Bid Advance 74 SECTION 3.05. 3.04 Determinations Under Section 3.01 ‌ 129 ARTICLE IV REPRESENTATIONS AND WARRANTIES SECTION 4.01. Representations Sections 3.01, 3.02 and Warranties of the Loan Parties ‌ 129 i 4877-0337-8128.7 ​ ​3.03 74