Common use of Absence of Indebtedness Clause in Contracts

Absence of Indebtedness. At the Closing Time, the Company will have no indebtedness for money borrowed except (i) amounts outstanding under the Company's $300 million aggregate principal amount credit facility (the "Credit Facility"), (ii) the Company's 7% Senior Notes due 2008, (iii) the Company's 8 1/4% Monthly Income Senior Notes due 2005, (iv) the Company's 8 1/2% Monthly Income Senior Notes due 2009, (v) equipment financing arrangements in respect of personal property located at certain Current Hotels which have been entered into in the ordinary course of business and have an aggregate outstanding balance not in excess of $1 million, and (vi) any indebtedness as to which you shall have given your prior written consent.

Absence of Indebtedness. At the Closing Time, the Company will have no indebtedness for money borrowed except (i) amounts outstanding under the Company's $300 million aggregate principal amount credit facility (the "Credit Facility"), (ii) the Company's 7% Senior Notes due 2008, (iii) the Company's 8 1/4% Monthly Income Senior Notes due 2005, (iv) the Company's 8 1/28% Monthly Income Senior Notes due 2009, (v) equipment financing arrangements in respect of personal property located at certain Current Hotels which have been entered into in the ordinary course of business and have an aggregate outstanding balance not in excess of $1 million, and (vi) any indebtedness as to which you shall have given your prior written consent.

Absence of Indebtedness. At the Closing Time, the Company will have no indebtedness for money borrowed except (i) amounts outstanding under the Company's $300 350 million aggregate principal amount credit facility (the "Credit Facility"), (ii) the Company's 7% Senior Notes due 2008, (iii) the Company's 8 1/4% Monthly Income Senior Notes due 2005, (iv) the Company's 8 1/2% Monthly Income Senior Notes due 2009, (iv) the Company's 9.125% Senior Notes due 2010, (v) the Company's 6.85% Senior Notes due 2012, (vi) equipment financing arrangements in respect of personal property located at certain Current Hotels which have been entered into in the ordinary course of business and have an aggregate outstanding balance not in excess of $1 million, and (vivii) any indebtedness as to which you shall have given your prior written consent.