JOINDER AGREEMENT (SUBSIDIARY GUARANTY) Dated as of December 31, 2006
Exhibit 10.30.3
JOINDER AGREEMENT
(SUBSIDIARY GUARANTY)
(SUBSIDIARY GUARANTY)
Dated as of December 31, 2006
JPMorgan Chase Bank, N.A.,
as Administrative Agent
000 Xxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxx Xxxxxxxx (Fax: 000-000-0000)
as Administrative Agent
000 Xxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxx Xxxxxxxx (Fax: 000-000-0000)
Ladies and Gentlemen:
Reference is hereby made to (a) the Credit Agreement, dated as of December 12, 2005, as
amended by Amendment No. 1 dated as of January 12, 2006, Amendment No. 2 dated as of January 25,
2006, Amendment No. 3 dated as of March 31, 2006 and Amendment No. 4 dated as of October 26, 2006
(as amended and in effect from time to time, the “Credit Agreement”), by and among FELCOR LODGING
TRUST INCORPORATED and FELCOR LODGING LIMITED PARTNERSHIP (the “Borrowers”), the Lenders party
thereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent for itself and the Lenders (the
“Administrative Agent”), (b) the Subsidiary Guaranty dated as of January 27, 2006 (the “Subsidiary
Guaranty”) from certain subsidiaries of the Borrowers to the Lenders and the Administrative Agent.
Terms not otherwise defined herein which are defined in the Credit Agreement shall have the
respective meanings given thereto in the Credit Agreement.
1. Joinder to Subsidiary Guaranty.
The Undersigned, FelCor/St. Xxxx Holdings, L.P., a Delaware limited partnership, (the
“Undersigned”) hereby joins the Subsidiary Guaranty as a Subsidiary Guarantor and agrees to comply
with and be bound by all of the terms, conditions and covenants of the Subsidiary Guaranty.
Without limiting the generality of the preceding sentence, the Undersigned agrees that it shall be
jointly and severally liable, together with the other Subsidiary Guarantors thereunder, for the
guaranty of the payment and performance of all obligations of the Borrowers under the Credit
Agreement as further set forth therein.
From and after the Effective Date hereof (as hereinafter defined), all references in the Loan
Documents to the “Subsidiary Guarantors” shall for all purposes be deemed to include the
Undersigned.
2. New Subsidiary Guarantor’s Representations and Warranties.
The Undersigned represents and warrants to the Administrative Agent and the Lenders that:
| a. | it is capable of complying with and is in compliance with all of the provisions of the Subsidiary Guaranty, the Credit Agreement and the other Loan Documents applicable to it; | ||
| b. | each of the representations and warranties set forth in §3 of the Credit Agreement made on its behalf by the Borrowers, except as set forth on Schedule 2(b) attached hereto and each of the representations and warranties set forth in §7 of the Subsidiary Guaranty is true and correct in all material respects with respect to the Undersigned as of the date hereof (except to the extent that such representations and warranties relate expressly to an earlier date); | ||
| c. | Schedule 2(c) attached hereto sets forth a true and accurate description of the Subsidiary Guarantors and the revised Schedule 3.15 attached hereto sets forth a true and accurate list of the properties and Unencumbered Assets. | ||
| d. | upon the execution of this Joinder Agreement, the Undersigned will be jointly and severally liable, together with the other Subsidiary Guarantors, for the payment and performance of all obligations of the Borrowers under the Credit Agreement as set forth in the Subsidiary Guaranty. |
3. Delivery of Documents.
The Undersigned hereby agrees that it shall comply with the requirements of §5.13 of the
Credit Agreement and shall deliver the items referenced therein to the Administrative Agent
concurrently with this Joinder Agreement (the date on which all such documents shall have been
delivered to the Administrative Agent being hereinafter referred to as the “Effective Date”), each
of which shall be in form and substance reasonably satisfactory to the Administrative Agent.
Notwithstanding anything to the contrary set forth herein, the parties agree that upon satisfaction
of all conditions, the joinder of the Undersigned shall be deemed effective as of the date of the
Subsidiary Guaranty.
[Remainder of Page Intentionally Left Blank]
This Joinder Agreement shall be governed by and construed in accordance with the laws of the
State of New York.
| Very truly yours, | ||||||
| FELCOR/ST. XXXX HOLDINGS, L.P. | ||||||
| By: FelCor/CSS Hotels, L.L.C., its general partner | ||||||
| By: | /s/ XXXXXXXX X. XXXXXX | |||||
| Name: | ||||||
| Title: | EXECUTIVE VICE PRESIDENT
GENERAL COUNSEL AND SECRETARY |
|||||
Accepted and Agreed:
JPMORGAN CHASE BANK, N.A.,
as Administrative Agent
as Administrative Agent
By: |
/s/ Xxxxxx X. Xxxxxxxx | |||
Name:
|
||||
Title: |
Managing Director |
SCHEDULE 2(b)
None.
SCHEDULE 2(c)
SUBSIDIARY GUARANTORS
“Subsidiary Guarantor” means each of:
| (i) FelCor/CSS Holdings, L.P., a Delaware limited partnership; | ||
| (ii) FelCor Hotel Asset Company, L.L.C., a Delaware limited liability company; | ||
| (iii) FelCor Pennsylvania Company, L.L.C., a Delaware limited liability company; | ||
| (iv) FelCor Lodging Holding Company, L.L.C., a Delaware limited liability company | ||
| (v) FHAC Texas Holdings, L.P., a Texas limited partnership; | ||
| (vi) FelCor Canada Co., a Nova Scotia unlimited liability company; | ||
| (vii) FelCor Omaha Hotel Company, L.L.C., a Delaware limited liability company; | ||
| (viii) FelCor TRS Holdings, L.P., a Delaware limited partnership; | ||
| (ix) Myrtle Beach Hotels, L.L.C., a Delaware limited liability company; | ||
| (x) FelCor TRS Borrower 1, L.P., a Delaware limited partnership; | ||
| (xi) FelCor TRS Guarantor, L.P., a Delaware limited partnership; | ||
| (xii) FelCor Lodging Company, L.L.C., a Delaware limited liability company; | ||
| (xiii) FelCor TRS Borrower 4, L.L.C., a Delaware limited liability company; | ||
| (xiv) FelCor/St. Xxxx Holdings, L.P., a Delaware limited partnership. |
SCHEDULE 3.15
PROPERTIES AND UNENCUMBERED ASSETS
Hotel Portfolio Listing
(as of December 31, 2006)
| Consolidated Continuing Operations | State | Rooms | %Owned(a) | Brand | ||||
Birmingham(b) |
AL | 242 | Embassy Suites Hotel | |||||
Phoenix – Biltmore(b) |
AZ | 232 | Embassy Suites Hotel | |||||
Phoenix Crescent Hotel(b) |
AZ | 342 | Sheraton | |||||
Phoenix Tempe(b) |
AZ | 224 | Embassy Suites Hotel | |||||
Xxxx Point – Doheny Beach(c) |
CA | 195 | Doubletree Guest Suites | |||||
Los Angeles – Anaheim (Located near
Disneyland Park)(b) |
CA | 222 | Embassy Suites Hotel | |||||
Los Angeles – Covina/I-10(b) |
CA | 202 | 50% | Embassy Suites Hotel | ||||
Los Angeles – El Segundo – International Airport –
South(c) |
CA | 349 | 97% | Embassy Suites Hotel | ||||
Milpitas – Silicon Valley(b) |
CA | 000 | Xxxxxxx Xxxxxx Xxxxx | |||||
Xxxx Xxxxxx(x) |
XX | 205 | Embassy Suites Hotel | |||||
Oxnard – Mandalay Beach Resort & Conference Center(c) |
CA | 248 | Embassy Suites Hotel | |||||
Palm Desert – Palm Desert Resort(c) |
CA | 198 | Embassy Suites Hotel | |||||
San Diego – On the Bay(c) |
CA | 600 | Holiday Inn | |||||
San Francisco – Burlingame Airport(c) |
CA | 000 | Xxxxxxx Xxxxxx Xxxxx | |||||
Xxx Xxxxxxxxx – South San Francisco Airport(b) |
CA | 000 | Xxxxxxx Xxxxxx Xxxxx | |||||
Xxx Xxxxxxxxx – Fisherman’s Wharf |
CA | 585 | Holiday Inn | |||||
San Francisco – Union Square(c) |
CA | 000 | Xxxxxx Xxxxx | |||||
Xxx Xxxxxx – Xxxxx County/Conference Center(b) |
CA | 235 | 50% | Embassy Suites Hotel | ||||
Santa Xxxxxxx – Goleta(c) |
CA | 160 | Holiday Inn | |||||
Santa Xxxxxx – Beach at the Pier(c) |
CA | 132 | Holiday Inn | |||||
Stamford(c) |
CT | 380 | Holiday Inn Select | |||||
Wilmington(b) |
DE | 244 | 90% | Doubletree | ||||
Boca Raton(b) |
FL | 000 | Xxxxxxx Xxxxxx Xxxxx | |||||
Xxxxx Xxxxx – Oceanfront(c) |
FL | 500 | Holiday Inn | |||||
Deerfield Beach – Boca Raton/Deerfield Beach Resort(b) |
FL | 244 | Embassy Suites Hotel | |||||
Ft. Lauderdale – 17th Street(b) |
FL | 358 | Embassy Suites Hotel | |||||
Ft. Lauderdale – Cypress Creek(b) |
FL | 253 | Sheraton Suites | |||||
Jacksonville – Baymeadows(b) |
FL | 277 | Embassy Suites Hotel | |||||
Miami – International Airport(b) |
FL | 316 | Embassy Suites Hotel | |||||
Orlando – International Airport(b) |
FL | 288 | Holiday Inn Select | |||||
Orlando – International Drive – Resort(c) |
FL | 651 | Holiday Inn | |||||
Orlando – International Drive South/Convention Center(b) |
FL | 244 | Embassy Suites Hotel | |||||
Orlando– (North)(c) |
FL | 277 | Embassy Suites Hotel | |||||
Orlando – Xxxx Disney World Resort(c) |
FL | 229 | Doubletree Guest Suites | |||||
Tampa– On Tampa Bay(b) |
FL | 000 | Xxxxxxxxxx Xxxxx Xxxxxx | |||||
Xxxxxxx – Airport(b) |
GA | 232 | Embassy Suites Hotel | |||||
Atlanta – Buckhead(b) |
GA | 317 | Embassy Suites Hotel | |||||
Atlanta – Galleria(b) |
GA | 000 | Xxxxxxxx Xxxxxx | |||||
Xxxxxxx – Gateway – Atlanta Airport(c) |
GA | 395 | Sheraton |
| Consolidated Continuing Operations | State | Rooms | %Owned(a) | Brand | ||||
Atlanta – Perimeter Center(b) |
GA | 241 | 50% | Embassy Suites Hotel | ||||
Brunswick(c) |
GA | 130 | Embassy Suites Hotel | |||||
Chicago – Lombard/Oak Brook(b) |
IL | 262 | 50% | Embassy Suites Hotel | ||||
Chicago – Northshore/Deerfield (Northbrook) (b) |
IL | 237 | Embassy Suites Hotel | |||||
Chicago X’Xxxx Airport(b) |
IL | 000 | Xxxxxxxx Xxxxxx | |||||
Xxxxxxxxxxxx – North(b) |
IN | 221 | 75% | Embassy Suites Hotel | ||||
Kansas City – Overland Park(b) |
KS | 199 | 50% | Embassy Suites Hotel | ||||
Lexington(c) |
KY | 155 | Sheraton Suites | |||||
Lexington – Lexington Green(b) |
KY | 174 | Hilton Suites | |||||
Baton Rouge(b) |
LA | 000 | Xxxxxxx Xxxxxx Xxxxx | |||||
Xxx Xxxxxxx(x) |
XX | 372 | Embassy Suites Hotel | |||||
New Orleans – French Quarter(c) |
LA | 374 | Holiday Inn | |||||
Boston – Government Center(c) |
MA | 303 | Holiday Inn Select | |||||
Boston – Marlborough(b) |
MA | 229 | Embassy Suites Hotel | |||||
Baltimore – BWI Airport(b) |
MD | 251 | 90% | Embassy Suites Hotel | ||||
Xxxx – North (Auburn Hills) (b) |
MI | 251 | 90% | Embassy Suites Hotel | ||||
Bloomington(b) |
MN | 219 | Embassy Suites Hotel | |||||
Minneapolis – Airport(b) |
MN | 310 | Embassy Suites Hotel | |||||
St. Xxxx – Downtown(b) |
MN | 210 | Embassy Suites Hotel | |||||
Kansas City – Plaza(b) |
MO | 266 | 50% | Embassy Suites Hotel | ||||
Charlotte(b) |
NC | 274 | 50% | Embassy Suites Hotel | ||||
Charlotte SouthPark(c) |
NC | 000 | Xxxxxxxxxx Xxxxx Xxxxxx | |||||
Xxxxxxx(x) |
XX | 203 | Doubletree Guest Suites | |||||
Raleigh – Xxxxxxxx(b) |
NC | 225 | 50% | Embassy Suites Hotel | ||||
Parsippany(b) |
NJ | 274 | 50% | Embassy Suites Hotel | ||||
Piscataway – Somerset(b) |
NJ | 222 | Embassy Suites Hotel | |||||
Secaucus – Meadowlands(b) |
NJ | 261 | 50% | Embassy Suites Hotel | ||||
Tulsa – I-44(c) |
OK | 244 | Embassy Suites Hotel | |||||
Philadelphia – Historic District(c) |
PA | 364 | Holiday Inn | |||||
Philadelphia – Society Hill(b) |
PA | 365 | Sheraton | |||||
Pittsburgh – At University Center (Oakland)(b) |
PA | 251 | Holiday Inn Select | |||||
Charleston – Xxxxx House (Historic Downtown)(b) |
SC | 214 | Holiday Inn | |||||
Myrtle Beach – At Kingston Plantation(c) |
SC | 000 | Xxxxxxx Xxxxxx Xxxxx | |||||
Xxxxxx Xxxxx Xxxxxx(x) |
XX | 385 | Hilton | |||||
Nashville – Airport/Opryland Area(c) |
TN | 296 | Embassy Suites Hotel | |||||
Nashville – Opryland/Airport (Xxxxxx Parkway)(c) |
TN | 382 | Holiday Inn Select | |||||
Austin(b) |
TX | 189 | 90% | Doubletree Guest Suites | ||||
Austin – North(b) |
TX | 260 | 50% | Embassy Suites Hotel | ||||
Corpus Christi(b) |
TX | 150 | Embassy Suites Hotel | |||||
Dallas – DFW International Airport-South(b) |
TX | 305 | Embassy Suites Hotel | |||||
Dallas – Love Field(b) |
TX | 248 | Embassy Suites Hotel | |||||
Dallas – Market Center(c) |
TX | 244 | Embassy Suites Hotel | |||||
Dallas – Park Central(c) |
TX | 438 | 60% | Sheraton | ||||
Dallas – Park Central(c) |
TX | 536 | 60% | Westin | ||||
Dallas – Park Central Area(c) |
TX | 279 | Embassy Suites Hotel | |||||
Dallas – West End/Convention Center(c) |
TX | 000 | Xxxxxxx Xxx | |||||
Xxxxxxx – Intercontinental Airport(c) |
TX | 415 | Holiday Inn | |||||
Houston – Medical Center(c) |
TX | 284 | Holiday Inn & Suites | |||||
San Antonio – International Airport(b) |
TX | 261 | 50% | Embassy Suites Hotel | ||||
San Antonio – International Airport(b) |
TX | 397 | Holiday Inn Select |
| Consolidated Continuing Operations | State | Rooms | %Owned(a) | Brand | ||||
San Antonio – N.W. I-10(b) |
TX | 216 | 50% | Embassy Suites Hotel | ||||
Burlington Hotel & Conference Center(b) |
VT | 309 | Sheraton | |||||
Vienna – At Tysons Corner(b) |
VA | 437 | 50% | Sheraton | ||||
Canada
|
||||||||
Toronto – Airport(c) |
Ontario | 000 | Xxxxxxx Xxx Xxxxxx | |||||
Xxxxxxx – Yorkdale(c) |
Ontario | 370 | Holiday Inn | |||||
Unconsolidated Operations |
||||||||
Hays(b) |
KS | 114 | 50% | Hampton Inn | ||||
Hays(b) |
KS | 191 | 50% | Holiday Inn | ||||
Salina(b) |
KS | 192 | 50% | Holiday Inn | ||||
Salina – I-70(b) |
KS | 93 | 50% | Holiday Inn Express & Suites | ||||
New Orleans – Chateau LeMoyne (In French
Quarter/Historic Area)(b) |
LA | 171 | 50% | Holiday Inn |
| (a) | We own 100% of the real estate interests unless otherwise noted. | |
| (b) | This hotel is encumbered by mortgage debt or capital lease obligation. | |
| (c) | This hotel meets the definition of “Unencumbered Hotel.” |
Schedule 3.15 (Cont.) — Ownership of Unencumbered Hotels
(as of December 31, 2006)
(as of December 31, 2006)
| Hotel Owner | Hotel Name | |
FelCor Lodging Limited Partnership
|
Atlanta AP Gateway-SH | |
| Charlotte SouthPark-DT | ||
| Dana Point-DTG | ||
| Kingston-ES | ||
| Nashville AP-ES | ||
| Orlando N-ES | ||
FelCor/CSS Holdings, L.P.
|
XX Xxxxxxxxxx -ES | |
FelCor/MM S-7 Holdings, L.P.
|
Lexington Sheraton Suites | |
FelCor Lodging Holding Company, L.L.C.
|
Houston Med Ctr-HI | |
| New Orleans Fr Qtr-HI | ||
| Santa Xxxxxxx-HI | ||
FelCor Hotel Asset Company, L.L.C.
|
Boston Government-HIS | |
| Cocoa Beach Ocean-HI | ||
| Nashville Opryland-HIS | ||
| San Diego on Bay-HI | ||
| Santa Xxxxxx | ||
| SF Union Square-CP | ||
FelCor Pennsylvania Company, L.L.C.
|
Philadelphia Indepen-HI | |
FHAC Texas Holding, L.P
|
Dallas Downtown-HAM | |
FelCor Canada Xx.
|
Xxxxxxx AP-HIS | |
| Toronto Yorkdale-HI | ||
Myrtle Beach Hotels, L.L.C.
|
Kingston-HIL | |
FelCor TRS Borrower 4, L.L.C.
|
Orlando WDW Village-DTG | |
| Mandalay Beach-ES | ||
| Orlando I Drive-HI | ||
| Brunswick-ES | ||
Los Angeles International Airport
Hotel Association, X.X.
|
XX XXX S-ES | |
Park Central Joint Venture
|
Dallas Park Ctrl-SH | |
| Dallas Park Ctrl-WE | ||
FelCor TRS Guarantor, L.P.
|
Stamford-HIS | |
FelCor TRS Borrower 1, L.P.
|
Tulsa-XX | |
| Xxxxxx Market Ctr-ES | ||
| Palm Desert-ES | ||
FelCor Lodging Company, L.L.C.
|
Dallas Park Ctrl-ES | |
| Houston AP-HI |
