Common use of Assumption and Assignment of Contracts Clause in Contracts

Assumption and Assignment of Contracts. On or before the Effective Date of the Plan, ESI will assume and assign the G&A Expense Reimbursement Agreement, dated as of May 11, 2004, between Extended Stay, Inc. and Homestead Village Management, LLC, as amended by: (1) First Amendment to G&A Expense Reimbursement Agreement, dated as of October 8, 2004, between Extended Stay Inc. and Homestead Village Management, LLC; and (2) Second Amendment to G&A Expense Reimbursement Agreement, dated as of May 11, 2005, between Extended Stay Inc. and HVM L.L.C., f/k/a Homestead Village Management, LLC and the Services Agreement, dated as of January 1, 2006, between Extended Stay, Inc. and HVM L.L.C., to the Debtors that are borrowers under the Mortgage Facility or NewCo pursuant to sections 365(a) and (f) of the Bankruptcy Code.

Assumption and Assignment of Contracts. On or before the Effective Date of the Plan, ESI will assume and assign the G&A Expense Reimbursement Agreement, dated as of May 11, 2004, between Extended Stay, Inc. and Homestead Village Management, LLC, as amended by: (1) First Amendment to G&A Expense Reimbursement Agreement, dated as of October 8, 2004, between Extended Stay Inc. and Homestead Village Management, LLC; and (2) Second Amendment to G&A Expense Reimbursement Agreement, dated as of May 11, 2005, between Extended Stay Inc. and HVM L.L.C., f/k/a Homestead Village Management, LLC and the Services Agreement, dated as of January 1, 2006, between Extended Stay, Inc. and HVM L.L.C., to the Debtors that are borrowers under the Mortgage Facility NewCo or NewCo its designee pursuant to sections 365(a) and (f) of the Bankruptcy Code.