Applicable Margins and Fees. The ABR Applicable Margin, the LIBOR Applicable Margin and the Applicable Commitment Fee Percentage to be used in calculating the interest rate applicable to different types of Advances and the Commitment Fee shall vary from time to time in accordance with the ratio of Total Indebtedness to EBITDA: LIBOR Applicable Applicable Commitment Ratio of Total Indebtedness to EBITDA Margin ABR Applicable Margin Fee Percentage ------------------------------------- ---------------- --------------------- --------------------- Less than 4.5x 1.625% 0.625% 0.25% 4.5x or over, but less than 5.00x 2.00% 1.00% 0.30% 5.00x or over, but less than 5.25x 2.25% 1.25% 0.35% 5.25x or over, but less than 5.50x 2.50% 1.50% 0.50% 5.50X or over, but less than 5.75x 3.00% 2.00% 0.60% The Applicable Margins and Applicable Commitment Fee Percentage will change quarterly upon delivery of a compliance certificate in the form of attached hereto, reflecting the ratio of Total Indebtedness to EBITDA as of the last day of the preceding fiscal quarter as disclosed on the financial statements for such fiscal quarter delivered to the Lenders.

Applicable Margins and Fees. (a) [Reserved]. (b) The Base Rate Applicable Margin and the LIBOR Applicable Margin shall vary from time to time in accordance with the Investment Grade Rating as follows (such that the Applicable Margin shall change from time to time as and when the Investment Grade Rating changes, which changes shall be effective from and after the date that notice is delivered from the Borrower to the Administrative Agent of the applicable Investment Grade Rating change): A/A2 (“Level I”) 0.75% 0.75% A-/A3 (“Level II”) 0.80% 0.80% BBB+/Baa1 (“Level III”) 0.85% 0.85% BBB/Baa2 (“Level IV”) 0.95% 0.95% BBB-/Baa3 (“Level V”) 1.20% 1.20% Below BBB- and Baa3 (“Level VI”) 1.60% 1.60% Notwithstanding the Investment Grade Rating set forth in above table, if: (i) the Consolidated Leverage Ratio as of the last day of the most recently ending fiscal quarter of the Borrower as set forth in the corresponding compliance certificate delivered pursuant to Section 8.2(iv) is less than 32.5% (or, so long as the Consolidated Leverage Ratio shall have been less than 32.5% during the immediately preceding fiscal quarter, greater than or equal to 32.5% but less than 37.5%; provided that the provisions of this parenthetical shall be applicable for only one fiscal quarter during the term of this Agreement), and (ii) (a) the Borrower’s Investment Grade Rating with S&P is not lower than BBB and (b) the Borrower’s Investment Grade Rating with Xxxxx’x is not lower than Baa2, the Base Rate Applicable Margin, the LIBOR Applicable Margin shall be set at Level III. For the avoidance of doubt, (x) if the Consolidated Leverage Ratio is greater than or equal to 32.5% for two or more consecutive fiscal quarters, the Borrower will again satisfy the condition set forth in clause (i) above when and if the Consolidated Leverage Ratio as of the last day of the most recently ending fiscal quarter of the Borrower as set forth in the corresponding compliance certificate delivered pursuant to Section 8.2(iv) is less than 32.5%, and (y) the Borrower may qualify for pricing at Level I, II or III based solely upon its Investment Grade Rating even if it does not meet the Consolidated Leverage Ratio condition described in clause (i) above. Any increase or decrease in the Base Rate Applicable Margin, the LIBOR Applicable Margin resulting from a change in the Consolidated Leverage Ratio in accordance with the foregoing proviso shall become effective as of the first Business Day immediately following the date a compliance ...

Applicable Margins and Fees. The Applicable Base Rate Margin, the Applicable LIBOR Margin, and Applicable Unused Line Fee Percentage shall be determined based on the Leverage Ratio as reported in the most recent Compliance Certificate (delivered to Administrative Agent pursuant to Section 8) by reference to Table 1 below: II ³3.0 but less than 3.5 1.25% 2.75% 0.50% III ³3.5 but less than 4.0 1.50% 3.00% 0.75% IV ³4.0 1.75% 3.25% 1.00% Notwithstanding the foregoing, Level II rates shall apply for all Loans made from the Closing Date until Administrative Agent has received a Compliance Certificate, satisfactory in form and substance to Administrative Agent, for Borrower’s Fiscal Quarter ending December 31, 2011.

Applicable Margins and Fees. The ABR Applicable Margin, the LIBOR Applicable Margin and the Applicable Commitment Fee Percentage to be used in calculating the interest rate applicable to different types of Advances and the Commitment Fee shall vary from time to time in accordance with the ratings for the Operating Partnership's or Equity Inns' long-term, senior unsecured debt as follows: No Rating Pricing Period in Effect: LIBOR ABR Applicable Consolidated Total Indebtedness as a Applicable Applicable Commitment Percentage of Total Value Margin Margin Fee Percentage ------------------------------------- ---------- ---------- -------------- less than 25% 1.40% 0.10% 0.20% 25% or over, but less than 35% 1.50% 0.25% 0.20% 35% or over, but less than 40% 1.625% 0.30% 0.25% 40% or over 1.75% 0.35% 0.30% Rating Pricing Period in Effect:

Applicable Margins and Fees. The Applicable Base Rate Margin, the Applicable SOFR Margin, the Applicable L/C Rate, and the Applicable Unused Line Fee Percentage shall be determined based on the Leverage Ratio as reported in the most recent Compliance Certificate (delivered to Administrative Agent pursuant to Section 8) by reference to Table 1 below: Table 1 Level Leverage Ratio Applicable Base Rate Margin Applicable SOFR Rate Margin/ Applicable L/C Rate Applicable Unused Line Fee Percentage I ≥ 3.25 1.50% 2.50% 0.500% II < 3.25 1.125% 2.125% 0.375% III < 2.25 0.75% 1.75% 0.250% IV < 1.50 0.375% 1.375% 0.250% 2.

Applicable Margins and Fees. The Applicable Base Rate Margin, the Applicable SOFR Margin, the Applicable L/C Rate, and the Applicable Unused Line Fee Percentage shall be determined, (i) with respect to Non-Extended Revolving Loans, based on the Leverage Ratio (Non-Extended Margin) as reported in the most recent Compliance Certificate (delivered to Administrative Agent pursuant to Section 8) by reference to Part A of Table 1 below and (ii) with respect to Extended Revolving Loans, for the first nine (9) months following the Amendment No. 4 Effective Date, at the rates per annum shown opposite Level I of Part B of Table 1 below, and thereafter, at the rates per annum shown opposite Levels II, III and IV of Part B of Table 1 below based on the Leverage Ratio as reported in the most recent Compliance Certificate (delivered to Administrative Agent pursuant to Section 8): -68- Xxxxxx Lease Finance Corporation Fourth Amended and Restated Credit Agreement Table 1 Part A Non-Extended Revolving Loans Level Leverage Ratio (Non- Extended Margin) Applicable Base Rate Margin Applicable SOFR Rate Margin/ Applicable L/C Rate Applicable Unused Line Fee Percentage I ≥ 3.25 1.500% 2.500% 0.500% II < 3.25 1.125% 2.125% 0.375% III < 2.25 0.750% 1.750% 0.250% IV < 1.50 0.375% 1.375% 0.250% Part B Extended Revolving Loans Level Leverage Ratio Applicable Base Rate Margin Applicable SOFR Rate Margin/ Applicable L/C Rate Applicable Unused Line Fee Percentage I N/A 2.000% 3.000% 0.500% II > 4.00 2.000% 3.000% 0.625% III < 4.00 1.750% 2.750% 0.625% IV < 3.50 1.500% 2.500% 0.500% (d) Term SOFR Conforming Changes. In connection with the use or administration of Term SOFR, Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. Administrative Agent will promptly notify Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.

Applicable Margins and Fees. The Applicable Base Rate Margin, the Applicable LIBOR Margin, the Applicable L/C Rate, and the Applicable Unused Line Fee Percentage shall be determined based on the Leverage Ratio as reported in the most recent Compliance Certificate (delivered to Administrative Agent pursuant to Section 8) by reference to Table 1 below:

Applicable Margins and Fees. The ABR Applicable Margin and the LIBOR Applicable Margin to be used in calculating the interest rate applicable to different types of Advances and the Commitment Fee shall vary from time to time in accordance with the ratings for the Operating Partnership's or Equity Inns' long-term, senior unsecured debt as follows: No Rating Pricing Period in Effect: LIBOR ABR Applicable Applicable Margin Margin ----------------- -------------- Consolidated Total Indebtedness as a Percentage of Total Value less than or equal to 25% 1.775% 0.10% over 25%, but less than or equal 1.875% 0.25% to 35% over 35%, but less than or equal 2.00% 0.30% to 40% over 40% 2.25% 0.35% Rating Pricing Period in Effect: LIBOR ABR Rating Level of Lower of Two Highest Applicable Margin Applicable Margin Ratings* ------------------------------------ ----------------- ----------------- A-/A3 1.50% 0.0% BBB+/Baa1 1.625% 0.0% BBB/Baa2 1.75% 0.0% BBB-/Baa3 1.875% 0.0% * Rating levels established by reference to S&P and Moody's ratings, respectively. At least one of S&P or Moody's ratings must always be included in the two ratings used. The Applicable Margins when no Rating Pricing Period is in effect will change only quarterly and upon delivery of a compliance certificate in the form of Exhibit H attached hereto, when the Total Value is determined. When a Rating Pricing Period is in effect, all Applicable Margins shall change as and when the applicable rating level changes. In the event an agency issues different ratings for the Operating Partnership and Equity Inns, then the higher rating for the two entities shall be deemed to be the rating from such agency.

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