AGREEMENT REGARDING MANAGEMENT AGREEMENT between ESA P PORTFOLIO OPERATING LESSEE LLC (LESSEE) and ESA MANAGEMENT, LLC (MANAGER) December 8, 2015
Exhibit 10.1.2
AGREEMENT REGARDING MANAGEMENT AGREEMENT
between
ESA P PORTFOLIO OPERATING LESSEE LLC
(LESSEE)
and
ESA MANAGEMENT, LLC
(MANAGER)
December 8, 2015
AGREEMENT REGARDING MANAGEMENT AGREEMENT
THIS AGREEMENT REGARDING MANAGEMENT AGREEMENT (this “Agreement”) is made as of December 8, 2015 by and between ESA P PORTFOLIO OPERATING LESSEE LLC (f/k/a ESA P Portfolio Operating Lessee Inc. (f/k/a BRE/ESA P Portfolio Operating Lessee Inc.)), a Delaware limited liability company (“Lessee”), and ESA MANAGEMENT, LLC, a Delaware limited liability company (“Manager”).
BACKGROUND
A. Lessee and Manager entered into that certain Management Agreement dated as of November 11, 2013, as amended by that certain First Amendment to Management Agreement dated as of July 28, 2014 (the “Original Management Agreement”) pursuant to which Manager agreed to render certain services in connection with the management and operation of the Hotels (as defined in the Original Management Agreement) to Lessee on the terms and subject to the conditions set forth in the Management Agreement;
B. Lessee and Manager wish to acknowledge the termination of the Original Management Agreement with respect to the hotels listed on Schedule I attached hereto.
AGREEMENT
NOW THEREFORE, in consideration of the foregoing recitals and the premises and the mutual covenants herein contained, the parties hereto agree as follows:
1. Amendment. Pursuant to Section 12.3(b) of the Original Management Agreement, it is hereby acknowledged and agreed that the Original Management Agreement is automatically terminated with respect to the hotels listed on Schedule I attached hererto and such hotels are automatically released and therefore deleted from Schedule A of the Original Management Agreement.
2. Ratification. All provisions of the Original Management Agreement are hereby ratified and declared to be in full force and effect. All references in the Original Management Agreement to the “Agreement”, “herein”, “hereunder” or terms of similar import shall be deemed to refer to the Original Management Agreement.
3. Applicable Law. This Agreement shall be construed under, and governed in accordance with, the laws of the State of New York.
4. Successors Bound. This Agreement shall be binding upon and inure to the benefit of Lessee, its successors and assigns, and shall be binding and inure to the benefit of Manager and its permitted assigns.
5. Headings. Headings of sections are inserted only for convenience and are in no way to be construed as a limitation on the scope of the particular sections to which they refer.
6. Incorporation of Recitals. The recitals set forth in the preamble of this Agreement are hereby incorporated into this Agreement as if fully set forth herein.
IN WITNESS HEREOF, the parties hereto have caused this Agreement to be executed and delivered as of the date first above written.
| LESSEE: | ||
| ESA P PORTFOLIO OPERATING LESSEE LLC, a Delaware limited liability company | ||
| By: | /s/ Xxxx X. Xxxx | |
| Name: | Xxxx X. Xxxx | |
| Title: | Vice President and Secretary | |
[Signatures continue on the following page]
AGREEMENT REGARDING MANAGEMENT AGREEMENT (P PORTFOLIO)
| MANAGER: | ||
| ESA MANAGEMENT, LLC, a Delaware limited liability company | ||
| By: | /s/ Xxxx X. Xxxx | |
| Name: | Xxxx X. Xxxx | |
| Title: | Vice President and Secretary | |
AGREEMENT REGARDING MANAGEMENT AGREEMENT (P PORTFOLIO)
SCHEDULE I
Properties
| Site |
Address |
Owner | ||
| 851 | 0000 X. XxXxxxxx Xx., Xxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 9602 | 0000 Xxxx Xxxxxx Xxx, Xxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 9802 | 00000 X. Xxxxx Xxxxxx Xxx, Xxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 979 | 0000 X. Xxxxxxxxxxx Xx., Xxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 8525 | 0000 X. Xxxx Xxx., Xxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 421 | 00000 Xxxxx Xxxx Xx., Xxxxxx Xxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 7502 | 0000 Xxxxxxxxx Xx, Xxxxxxxx Xxxxxxx, XX | XXX P Portfolio L.L.C. | ||
| 885 | 0000 Xxxxxxxxx Xx., Xxxxxxxx, XX | XXX P Portfolio L.L.C. | ||
| 994 | 000 Xxxxxxx Xx., Xxxxxxxx, XX | XXX P Portfolio L.L.C. | ||
| 7508 | 0000 Xxxxx Xx, Xxxxxxxx, XX | XXX P Portfolio L.L.C. | ||
| 7513 | 0000 X Xxxxxxxx Xx., Xxxxxx, XX | XXX P Portfolio L.L.C. | ||
| 1510 | 0000 Xxxx Xxxxxxxxxx Xxxx., Xxxx Xxxxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 1546 | 00000 X. Xxxxxxxx Xx., Xxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 991 | 0000 Xxxxx Xxxxxx Xxxx., Xxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 992 | 000 Xxxxxxxxxxxxx Xx., Xxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 996 | 000 X. Xxxx Xx., Xxxxxxxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 9648 | 0000 Xxxxx Xxxxxx Xxxx., Xxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 753 | 0000 X Xxxxxxxxxx Xxxx., Xxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 995 | 0000 Xxxxxx Xx, Xxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 1 | 0000 Xxxxxxx Xx., Xxxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 5 | 0000 Xxxxxx Xxxx, Xxxxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 6002 | 00000 Xxxxxxxxx Xx., Xxxxx Xxxxx, XX | XXX P Portfolio L.L.C. | ||
| 986 | 000 Xxxxxxx Xx., Xxxxxxx, XX | XXX P Portfolio L.L.C. | ||
| 985 | 0000 X. Xxxxx Xx., Xxxxxxx Xxxx, XX | XXX P Portfolio L.L.C. | ||
| 527 | 00000 Xxxxxxxxxx Xx., Xxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 16 | 000 Xxxxxx Xxxxx Xx, Xxxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 691 | 0000 X. Xxxxxxxxx Xxxx., Xxxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 562 | 00000 Xxxx 00xx Xx., Xxxxxxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 6048 | 0000 X. Xxxxxxxxxx Xxx, Xxxxxx Xxxx, XX | ESA P Portfolio L.L.C. | ||
| 1514 | 5008 NC 55, Durham, NC | ESA P Portfolio L.L.C. | ||
| 1500 | 0000 X. Xxxxx Xxxx., Xxxxxxx-Xxxxx, XX | ESA P Portfolio L.L.C. | ||
| 454 | 0000 Xxxxx 00 Xxxxx, Xxxxx Xxxxx, XX | XXX P Portfolio L.L.C. | ||
| 413 | 0000 Xxxxxxx XX, Xxxxxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 861 | 0000 Xxxxxxx Xxxxxxx, Xxx Xxxxx, XX | ESA P Portfolio L.L.C. | ||
| 3 | 00000 Xxxxxxxxxxx Xx., Xxxxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 555 | 00000 Xxxxxxx Xx., Xxxxxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 838 | 520 Xxxxxx Xx., Springfield, OR | ESA P Portfolio L.L.C. | ||
| 7003 | 0000 Xxxxxx Xx XX, Xxxxx, XX | ESA P Portfolio L.L.C. |
SCH: I-1
| 100 | 130 Mobile Dr., Spartanburg, SC | ESA P Portfolio L.L.C. | ||
| 450 | 0000 Xxxxxx Xxxx Xx., Xxxxxxx, XX | ESH/TN Properties L.L.C. | ||
| 163 | 0000 Xxxxxxxxxxxx Xx., Xxxxxxxxx, XX | ESH/TN Properties L.L.C. | ||
| 6028 | 00000 Xxxxxxxx Xx., Xxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 6005 | 0000 Xxxx Xx, Xxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 6012 | 0000 Xxx 0 Xxxxx, Xxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 6022 | 0000 XX Xxx 00, Xxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 6037 | 0000 X. Xxxxxx Xxxx Xx, Xxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 6086 | 0000 Xxxxxxxxx Xx., Xxxx Xxxxx, XX | ESA P Portfolio L.L.C. | ||
| 9707 | 00000 Xxxxxx Xxxx, Xxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 9717 | 0000 Xxxxx Xxxxxxx Xx., Xxxx Xxxx Xxxx, XX | ESA P Portfolio L.L.C. | ||
| 7010 | 00000 Xxxxxxx Xxx Xxxxx, Xxxx, XX | ESA P Portfolio L.L.C. | ||
| 817 | 00000 X. Xxxxxxx Xxx., Xxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 7011 | 0000 X. Xxxxxxxx, Xxxxxxxx, XX | ESA P Portfolio L.L.C. | ||
| 7018 | 0000 Xxxxx Xxxxxx Xx., Xxxxxx, XX | ESA P Portfolio L.L.C. |
SCH: I-2
