Common use of REPRESENTATIONS AND WARRANTIES      60 Clause in Contracts

REPRESENTATIONS AND WARRANTIES      60. SECTION 4.01. Representations and Warranties of the Borrowers 60 SECTION 4.02. Additional Representations and Warranties of CFSC, CIF and CFKK. 63 ARTICLE V COVENANTS OF THE BORROWERS 63 SECTION 5.01. Affirmative Covenants 63 SECTION 5.02. Negative Covenants 67 SECTION 5.03. Financial Covenant of Caterpillar 68 SECTION 5.04. Financial and Other Covenants of CFSC 68 ARTICLE VI EVENTS OF DEFAULT 68 TABLE OF CONTENTS (continued) Page SECTION 6.01. Events of Default 68 ARTICLE VII AGENCY 72 SECTION 7.01. Appointment and Authority 72 SECTION 7.02. Agent Individually 72 SECTION 7.03. Duties of Agent; Exculpatory Provisions 73 SECTION 7.04. Reliance by Agent 74 SECTION 7.05. Delegation of Duties 75 SECTION 7.06. Resignation or Removal of Agent 75 SECTION 7.07. Non-Reliance on Agents and Other Banks 76 SECTION 7.08. No Other Duties, etc 77 SECTION 7.09. Indemnification 78 SECTION 7.10. Bank ERISA Matters 78 SECTION 7.11. Erroneous Payments. 80 ARTICLE VIII MISCELLANEOUS 83 SECTION 8.01. Amendments, Etc. 83 SECTION 8.02. Notices; Communications, Etc. 84 SECTION 8.03. No Waiver; Remedies 87 SECTION 8.04. Costs, Expenses and Taxes 87 SECTION 8.05. Right of Set-off 89 SECTION 8.06. Binding Effect 89 SECTION 8.07. Assignments and Participations. 89 SECTION 8.08. Governing Law; Submission to Jurisdiction; Service of Process. 92 SECTION 8.09. Caterpillar as Agent for the Borrowers 93 SECTION 8.10. Judgment Currency 93 SECTION 8.11. Execution in Counterparts 93 SECTION 8.12. Waiver of Jury Trial 94 SECTION 8.13. USA Patriot Act Notification 94 SECTION 8.14. Confidentiality 94 SECTION 8.15. Treatment of Information 96 SECTION 8.16. Termination of Prior Agreement 97 SECTION 8.17. No Fiduciary Duty 98 SECTION 8.18. Arrangers 98 SECTION 8.19. Acknowledgement and Consent to Bail-In of Affected Financial Institutions 98 ARTICLE IX CFSC GUARANTY 99 SECTION 9.01. The Guaranty 99

REPRESENTATIONS AND WARRANTIES      60. SECTION 4.01. Representations Section 4.1 Corporate Existence; Financial Statements; Compliance with Law 61 Section 4.2 Loan and Warranties of the Borrowers 60 SECTION 4.02. Additional Representations and Warranties of CFSC, CIF and CFKK. Related Documents 63 ARTICLE V COVENANTS OF THE BORROWERS Section 4.3 Reserved 63 SECTION 5.01. Affirmative Covenants Section 4.4 Reserved 63 SECTION 5.02. Negative Covenants 67 SECTION 5.03. Financial Covenant of Caterpillar 68 SECTION 5.04. Financial and Other Covenants of CFSC 68 ARTICLE VI EVENTS OF DEFAULT 68 Section 4.5 Material Adverse Effect 63 Section 4.6 Solvency 63 Section 4.7 Litigation 64 Section 4.8 Taxes 64 Section 4.9 Margin Regulations 64 Section 4.10 No Burdensome Obligations; No Defaults 64 Section 4.11 Investment Company Act 64 Section 4.12 Labor Matters 65 TABLE OF CONTENTS (continued) Page Section 4.13 ERISA 65 Section 4.14 Environmental Matters 65 Section 4.15 Intellectual Property 66 Section 4.16 Title; Real Property 66 Section 4.17 Full Disclosure 66 Section 4.18 Patriot Act; OFAC 67 Section 4.19 Eligible Accounts 67 Section 4.20 Use of Proceeds 68 Section 4.21 Insurance 68 Section 4.22 Reportable Transactions 68 Section 4.23 Security Documents 68 Section 4.24 Schedules Deemed Updated 69 ARTICLE 5 FINANCIAL COVENANTS 69 Section 5.1 Liquidity 69 Section 5.2 Minimum Consolidated Fixed Charge Coverage Ratio 69 Section 5.3 Reserved 69 Section 5.4 Reserved 69 Section 5.5 Reserved 69 SECTION 6.01. 5.6 INVESTMENTS TO CURE FINANCIAL COVENANT DEFAULTS 71 Section 6.1 Financial Statements 71 Section 6.2 Other Events 73 Section 6.3 Copies of Default 68 ARTICLE VII AGENCY 72 SECTION 7.01. Appointment Notices and Authority 72 SECTION 7.02. Agent Individually 72 SECTION 7.03. Duties of Agent; Exculpatory Provisions Reports 73 SECTION 7.04. Reliance by Agent Section 6.4 Taxes 74 SECTION 7.05. Delegation of Duties 75 SECTION 7.06. Resignation or Removal of Agent 75 SECTION 7.07. Non-Reliance on Agents and Other Banks 76 SECTION 7.08. No Other Duties, etc 77 SECTION 7.09. Indemnification 78 SECTION 7.10. Bank Section 6.5 Labor Matters 74 Section 6.6 ERISA Matters 74 Section 6.7 Environmental Matters 74 Section 6.8 Other Information 75 ARTICLE 7 AFFIRMATIVE COVENANTS 75 Section 7.1 Maintenance of Corporate Existence 75 Section 7.2 Compliance with Laws, Etc 75 Section 7.3 Payment of Obligations 77 Section 7.4 Maintenance of Property 77 Section 7.5 Maintenance of Insurance 77 Section 7.6 Keeping of Books 77 Section 7.7 Access to Books and Property 77 Section 7.8 Environmental 78 SECTION 7.11. Erroneous Payments. 80 ARTICLE VIII MISCELLANEOUS 83 SECTION 8.01. Amendments, Etc. 83 SECTION 8.02. NoticesSection 7.9 Post-Closing Obligations 78 Section 7.10 Additional Borrowers and Collateral 79 Section 7.11 Deposit Accounts; Communications, Etc. 84 SECTION 8.03. No WaiverSecurities Accounts and Cash Collateral Accounts 81 Section 7.12 Cash Management; Remedies 87 SECTION 8.04. Costs, Expenses and Taxes 87 SECTION 8.05. Right of Set-off 89 SECTION 8.06. Binding Effect 89 SECTION 8.07. Assignments and Participations. 89 SECTION 8.08. Governing Law; Submission to Jurisdiction; Service of Process. 92 SECTION 8.09. Caterpillar as Agent for the Borrowers 93 SECTION 8.10. Judgment Currency 93 SECTION 8.11. Execution in Counterparts 93 SECTION 8.12. Waiver of Jury Trial 94 SECTION 8.13. USA Patriot Act Notification 94 SECTION 8.14. Confidentiality 94 SECTION 8.15. Treatment of Information 96 SECTION 8.16. Termination of Prior Agreement 97 SECTION 8.17. No Fiduciary Duty 98 SECTION 8.18. Arrangers 98 SECTION 8.19. Acknowledgement and Consent to Bail-In of Affected Financial Institutions 98 ARTICLE IX CFSC GUARANTY 99 SECTION 9.01. The Guaranty 99Collection Account 82

REPRESENTATIONS AND WARRANTIES      60. SECTION 4.01Section 4.1. Representations and Warranties of the Borrowers Borrower and Operating Lessee 60 SECTION 4.02Section 4.2. Additional Survival of Representations and Warranties of CFSC, CIF and CFKK69 ARTICLE 5 AFFIRMATIVE COVENANTS 69 Section 5.1. 63 Borrower Covenants 69 ARTICLE V 6 NEGATIVE COVENANTS OF THE BORROWERS 63 SECTION 5.0188 Section 6.1. Affirmative Covenants 63 SECTION 5.02. Borrower Negative Covenants 67 SECTION 5.0388 Page ARTICLE 7 DEFAULTS 90 Section 7.1. Financial Covenant of Caterpillar 68 SECTION 5.04. Financial and Other Covenants of CFSC 68 ARTICLE VI EVENTS OF DEFAULT 68 TABLE OF CONTENTS (continued) Page SECTION 6.01. Events Event of Default 68 90 Section 7.2. Remedies 94 Section 7.3. Remedies Cumulative 94 Section 7.4. Lender’s Right to Perform 95 ARTICLE VII AGENCY 72 SECTION 7.018 MISCELLANEOUS 95 Section 8.1. Appointment and Authority 72 SECTION 7.02Survival 95 Section 8.2. Agent Individually 72 SECTION 7.03. Duties of Agent; Exculpatory Provisions 73 SECTION 7.04. Reliance by Agent 74 SECTION 7.05. Delegation of Duties 75 SECTION 7.06. Resignation or Removal of Agent 75 SECTION 7.07. Non-Reliance on Agents and Other Banks 76 SECTION 7.08. No Other Duties, etc 77 SECTION 7.09. Indemnification 78 SECTION 7.10. Bank ERISA Matters 78 SECTION 7.11. Erroneous Payments. 80 ARTICLE VIII MISCELLANEOUS 83 SECTION 8.01. Amendments, Etc. 83 SECTION 8.02. Notices; Communications, Etc. 84 SECTION 8.03. No Waiver; Remedies 87 SECTION 8.04. Costs, Expenses and Taxes 87 SECTION 8.05. Right of Set-off 89 SECTION 8.06. Binding Effect 89 SECTION 8.07. Assignments and Participations. 89 SECTION 8.08Lender’s Discretion 95 Section 8.3. Governing Law; Submission to Jurisdiction; Service of ProcessLaw 96 Section 8.4. 92 SECTION 8.09Modification, Waiver in Writing 97 Section 8.5. Caterpillar as Agent for the Borrowers 93 SECTION Delay Not a Waiver 97 Section 8.6. Notices 97 Section 8.7. Trial By Jury 98 Section 8.8. Headings 99 Section 8.9. Assignment 99 Section 8.10. Judgment Currency 93 SECTION Severability 99 Section 8.11. Execution in Counterparts 93 SECTION Preferences 99 Section 8.12. Waiver of Jury Trial 94 SECTION Notice 99 Section 8.13. USA Patriot Act Notification 94 SECTION Remedies of Borrower 100 Section 8.14. Confidentiality 94 SECTION Exculpation 100 Section 8.15. Treatment of Information 96 SECTION Exhibits Incorporated 102 Section 8.16. Termination of Prior Agreement 97 SECTION Offsets, Counterclaims and Defenses 102 Section 8.17. No Fiduciary Duty 98 SECTION Joint Venture or Partnership 102 Section 8.18. Arrangers 98 SECTION Waiver of Marshalling of Assets Defense 102 Section 8.19. Acknowledgement Waiver of Counterclaim 103 Section 8.20. Conflict; Construction of Documents 103 Section 8.21. Brokers and Financial Advisors 103 Section 8.22. Counterparts 103 Section 8.23. Estoppel Certificates 103 Section 8.24. Payment of Expenses 104 Section 8.25. Bankruptcy Waiver 104 Section 8.26. Entire Agreement 105 Section 8.27. Dissemination of Information 105 Section 8.28. Limitation of Interest 105 Page Section 8.29. Indemnification 106 Section 8.30. Borrower Acknowledgments 106 Section 8.31. Publicity 106 Section 8.32. Intentionally omitted 107 Section 8.33. Cross-Collateralization 107 Section 8.34. Time of the Essence 107 Section 8.35. FINAL AGREEMENT 107 Section 8.36. [Intentionally omitted] 107 Section 8.37. Joint and Several Liability 107 Section 8.38. Loan Modification 107 Section 8.39. Consent to Bail-In Fees 107 Section 8.40. Insurance, Casualty and Condemnation Provisions 107 Exhibit A Additional Definitions Exhibit B Deferred Maintenance Exhibit C Individual Properties and Allocated Loan Amounts Exhibit D Franchisors and Managers Exhibit E Operating Budget Exhibit F FF&E Financing Exhibit G Organizational Chart Exhibit H Property Improvement Plans Exhibit I Required Expenditure Amounts for Individual Properties Exhibit J Capital Improvements and PIP Schedule Exhibit K Upfront Remediation Schedule 1 Litigation Schedule 2 Franchise Defaults Schedule 3 Amortization Schedule AMENDED AND RESTATED LOAN AGREEMENT THIS AMENDED AND RESTATED LOAN AGREEMENT, made as of Affected Financial Institutions 98 ARTICLE IX CFSC GUARANTY 99 SECTION 9.01. The Guaranty 99October 13, 2005, is by and between (i) XXXXXXX XXXXX MORTGAGE LENDING, INC., a Delaware corporation (in such capacity, and together with its successors and assigns “Lender”), (ii) XXXXXXX XXXXXXX SEA WORLD LIMITED PARTNERSHIP, ASHFORD SALT LAKE LIMITED PARTNERSHIP, XXXXXXX XXXX PALM DESERT I LIMITED PARTNERSHIP, XXXXXXX XXXXXXXXX LIMITED PARTNERSHIP, ASHFORD OVERLAND PARK LIMITED PARTNERSHIP and ASHFORD RALEIGH LIMITED PARTNERSHIP, each a Delaware limited partnership (individually and collectively, as the context may require, “Borrower”) and (iii) XXXXXXX XXXXXXX SEA WORLD LIMITED PARTNERSHIP, ASHFORD SALT LAKE LIMITED PARTNERSHIP, XXXXXXX XXXX PALM DESERT I LIMITED PARTNERSHIP, XXXXXXX XXXXXXXXX LIMITED PARTNERSHIP, ASHFORD OVERLAND PARK LIMITED PARTNERSHIP, ASHFORD RALEIGH LIMITED PARTNERSHIP, KEY WEST FLORIDA HOTEL LIMITED PARTNERSHIP, MINNETONKA MINNESOTA HOTEL LIMITED PARTNERSHIP and ANNAPOLIS MARYLAND HOTEL LIMITED PARTNERSHIP, each a Delaware limited partnership (individually and collectively, as the context may require, together with each Borrower’s successors and assigns, “Borrower”).

REPRESENTATIONS AND WARRANTIES      60. SECTION 4.01Section 6.1. Corporate Existence; Subsidiaries; Foreign Qualification 60 Section 6.2. Corporate Authority 60 Section 6.3. Compliance with Laws and Contracts 60 Section 6.4. Litigation and Administrative Proceedings 61 Section 6.5. Title to Assets 61 Section 6.6. Liens and Security Interests 61 Section 6.7. Tax Returns 62 Section 6.8. Environmental Laws 62 Section 6.9. Locations 62 Section 6.10. Continued Business 62 Section 6.11. Employee Benefits Plans 63 Section 6.12. Consents or Approvals 63 Section 6.13. Solvency 63 Section 6.14. Financial Statements 64 Section 6.15. Regulations 64 Section 6.16. Material Agreements 64 Section 6.17. Intellectual Property 64 Section 6.18. Insurance 64 Section 6.19. Deposit Accounts 65 Section 6.20. Accurate and Complete Statements 65 Section 6.21. Investment Company; Other Restrictions 65 Section 6.22. Defaults 65 ARTICLE VII. SECURITY 65 Section 7.1. Security Interest in Collateral 65 Section 7.2. Collections and Receipt of Proceeds by Borrower 65 Section 7.3. Collections and Receipt of Proceeds by Agent 66 Section 7.4. Agent’s Authority Under Pledged Notes 67 TABLE OF CONTENTS Page Section 7.5. Use of Inventory and Equipment 68 ARTICLE VIII. EVENTS OF DEFAULT 68 Section 8.1. Payments 68 Section 8.2. Special Covenants 68 Section 8.3. Other Covenants 69 Section 8.4. Representations and Warranties 69 Section 8.5. Cross Default 69 Section 8.6. ERISA Default 69 Section 8.7. Change in Control 69 Section 8.8. Money Judgment 69 Section 8.9. Security 69 Section 8.10. Validity of the Borrowers 60 SECTION 4.02Loan Documents 70 Section 8.11. Additional Representations and Warranties Solvency 70 ARTICLE IX. REMEDIES UPON DEFAULT 70 Section 9.1. Optional Defaults 71 Section 9.2. Automatic Defaults 71 Section 9.3. Letters of CFSC, CIF and CFKKCredit 71 Section 9.4. 63 Offsets 71 Section 9.5. Equalization Provisions 72 Section 9.6. Collateral 73 Section 9.7. Other Remedies 74 Section 9.8. Application of Proceeds 74 ARTICLE V COVENANTS OF X. THE BORROWERS 63 SECTION 5.01. Affirmative Covenants 63 SECTION 5.02. Negative Covenants 67 SECTION 5.03. Financial Covenant of Caterpillar 68 SECTION 5.04. Financial and Other Covenants of CFSC 68 ARTICLE VI EVENTS OF DEFAULT 68 TABLE OF CONTENTS (continued) Page SECTION 6.01. Events of Default 68 ARTICLE VII AGENCY 72 SECTION 7.01AGENT 75 Section 10.1. Appointment and Authority 72 SECTION 7.02Authorization 75 Section 10.2. Note Holders 75 Section 10.3. Consultation With Counsel 76 Section 10.4. Documents 76 Section 10.5. Agent Individually 72 SECTION 7.03and Affiliates 76 Section 10.6. Duties Notice of Agent; Exculpatory Provisions 73 SECTION 7.04Default 76 Section 10.7. Reliance Action by Agent 74 SECTION 7.0576 Section 10.8. Release of Collateral or Guarantor of Payment 77 Section 10.9. Delegation of Duties 75 SECTION 7.0677 Section 10.10. Resignation or Removal Indemnification of Agent 75 SECTION 7.0777 Section 10.11. Non-Successor Agent 77 Section 10.12. Fronting Lender 78 Section 10.13. Swing Line Lender 78 Section 10.14. Agent May File Proofs of Claim 78 Section 10.15. No Reliance on Agent’s Customer Identification Program 79 Section 10.16 Designation of Additional Agents and Other Banks 76 SECTION 7.0879 ARTICLE XI. No Other Duties, etc 77 SECTION 7.09MISCELLANEOUS 79 Section 11.1. Indemnification 78 SECTION 7.10. Bank ERISA Matters 78 SECTION 7.11. Erroneous Payments. 80 ARTICLE VIII MISCELLANEOUS 83 SECTION 8.01. Amendments, Etc. 83 SECTION 8.02. Notices; Communications, Etc. 84 SECTION 8.03Lenders’ Independent Investigation 79 Section 11.2. No Waiver; Cumulative Remedies 87 SECTION 8.0479 Section 11.3. Amendments, Waivers and Consents 80 TABLE OF CONTENTS Page Section 11.4. Notices 81 Section 11.5. Costs, Expenses and Taxes 87 SECTION 8.0581 Section 11.6. Right of Set-off 89 SECTION 8.06Indemnification 82 Section 11.7. Obligations Several; No Fiduciary Obligations 82 Section 11.8. Execution in Counterparts 82 Section 11.9. Binding Effect 89 SECTION 8.07Effect; Borrower’s Assignment 83 Section 11.10. Lender Assignments and Participations83 Section 11.11. 89 SECTION 8.08Sale of Participations 85 Section 11.12. Patriot Act Notice 85 Section 11.13. Severability of Provisions; Captions; Attachments 86 Section 11.14. Investment Purpose 86 Section 11.15. Entire Agreement 86 Section 11.16. Legal Representation of Parties 86 Section 11.17. Governing Law; Submission to Jurisdiction; Service of ProcessJurisdiction 86 Section 11.18. 92 SECTION 8.09. Caterpillar as Agent for the Borrowers 93 SECTION 8.10. Judgment Currency 93 SECTION 8.11. Execution in Counterparts 93 SECTION 8.12. Waiver of Jury Trial 94 SECTION 8.13. USA Patriot Act Notification 94 SECTION 8.14. Confidentiality 94 SECTION 8.15. Treatment Waiver Signature Page 1 Exhibit A Form of Information 96 SECTION 8.16. Termination Revolving Credit Note Exhibit B Form of Prior Swing Line Note Exhibit C Form of Term Loan B Note Exhibit D Form of Notice of Loan Exhibit E Form of Compliance Certificate Exhibit F Form of Assignment and Acceptance Agreement 97 SECTION 8.17. No Fiduciary Duty 98 SECTION 8.18. Arrangers 98 SECTION 8.19. Acknowledgement Schedule 1 Commitments of Lenders Schedule 2 Guarantors of Payment Schedule 3 Pledged Securities Schedule 4 Pledged Notes Schedule 5.8 Indebtedness Schedule 5.9 Liens Schedule 5.11 Permitted Foreign Subsidiary Loans and Consent Investments Schedule 5.13 Disclosed Acquisitions Schedule 6.1 Corporate Existence; Subsidiaries; Foreign Qualification Schedule 6.4 Litigation and Administrative Proceedings Schedule 6.5 Real Estate Owned by the Companies Schedule 6.9 Locations Schedule 6.11 Employee Benefits Plans Schedule 6.16 Material Agreements Schedule 6.17 Intellectual Property Schedule 6.18 Insurance Schedule 6.19 Deposit Accounts This CREDIT AND SECURITY AGREEMENT (as the same may from time to Bail-In time be amended, restated or otherwise modified, this “Agreement”) is made effective as of Affected Financial Institutions 98 ARTICLE IX CFSC GUARANTY 99 SECTION 9.01. The Guaranty 99the 12th day of July, 2007 among:

REPRESENTATIONS AND WARRANTIES      60. SECTION 4.01Section 4.1. Representations and Warranties of the Borrowers Borrower and Operating Lessee 60 SECTION 4.02Section 4.2. Additional Survival of Representations and Warranties of CFSC, CIF and CFKK69 ARTICLE 5 AFFIRMATIVE COVENANTS 70 Section 5.1. 63 Borrower Covenants 70 ARTICLE V 6 NEGATIVE COVENANTS OF THE BORROWERS 63 SECTION 5.0188 Section 6.1. Affirmative Covenants 63 SECTION 5.02. Borrower Negative Covenants 67 SECTION 5.0388 Page ARTICLE 7 DEFAULTS 90 Section 7.1. Financial Covenant of Caterpillar 68 SECTION 5.04. Financial and Other Covenants of CFSC 68 ARTICLE VI EVENTS OF DEFAULT 68 TABLE OF CONTENTS (continued) Page SECTION 6.01. Events Event of Default 68 90 Section 7.2. Remedies 94 Section 7.3. Remedies Cumulative 94 Section 7.4. Lender’s Right to Perform 95 ARTICLE VII AGENCY 72 SECTION 7.018 MISCELLANEOUS 95 Section 8.1. Appointment and Authority 72 SECTION 7.02Survival 95 Section 8.2. Agent Individually 72 SECTION 7.03. Duties of Agent; Exculpatory Provisions 73 SECTION 7.04. Reliance by Agent 74 SECTION 7.05. Delegation of Duties 75 SECTION 7.06. Resignation or Removal of Agent 75 SECTION 7.07. Non-Reliance on Agents and Other Banks 76 SECTION 7.08. No Other Duties, etc 77 SECTION 7.09. Indemnification 78 SECTION 7.10. Bank ERISA Matters 78 SECTION 7.11. Erroneous Payments. 80 ARTICLE VIII MISCELLANEOUS 83 SECTION 8.01. Amendments, Etc. 83 SECTION 8.02. Notices; Communications, Etc. 84 SECTION 8.03. No Waiver; Remedies 87 SECTION 8.04. Costs, Expenses and Taxes 87 SECTION 8.05. Right of Set-off 89 SECTION 8.06. Binding Effect 89 SECTION 8.07. Assignments and Participations. 89 SECTION 8.08Lender’s Discretion 95 Section 8.3. Governing Law; Submission to Jurisdiction; Service of ProcessLaw 96 Section 8.4. 92 SECTION 8.09Modification, Waiver in Writing 97 Section 8.5. Caterpillar as Agent for the Borrowers 93 SECTION Delay Not a Waiver 97 Section 8.6. Notices 97 Section 8.7. Trial By Jury 98 Section 8.8. Headings 99 Section 8.9. Assignment 99 Section 8.10. Judgment Currency 93 SECTION Severability 99 Section 8.11. Execution in Counterparts 93 SECTION Preferences 99 Section 8.12. Waiver of Jury Trial 94 SECTION Notice 99 Section 8.13. USA Patriot Act Notification 94 SECTION Remedies of Borrower 100 Section 8.14. Confidentiality 94 SECTION Exculpation 100 Section 8.15. Treatment of Information 96 SECTION Exhibits Incorporated 102 Section 8.16. Termination of Prior Agreement 97 SECTION Offsets, Counterclaims and Defenses 102 Section 8.17. No Fiduciary Duty 98 SECTION Joint Venture or Partnership 102 Section 8.18. Arrangers 98 SECTION Waiver of Marshalling of Assets Defense 102 Section 8.19. Acknowledgement Waiver of Counterclaim 103 Section 8.20. Conflict; Construction of Documents 103 Section 8.21. Brokers and Financial Advisors 103 Section 8.22. Counterparts 103 Section 8.23. Estoppel Certificates 103 Section 8.24. Payment of Expenses 104 Section 8.25. Bankruptcy Waiver 104 Section 8.26. Entire Agreement 105 Section 8.27. Dissemination of Information 105 Page Section 8.28. Limitation of Interest 105 Section 8.29. Indemnification 106 Section 8.30. Borrower Acknowledgments 106 Section 8.31. Publicity 106 Section 8.32. Intentionally omitted 107 Section 8.33. Cross-Collateralization 107 Section 8.34. Time of the Essence 107 Section 8.35. FINAL AGREEMENT 107 Section 8.36. [Intentionally omitted] 107 Section 8.37. Joint and Several Liability 107 Section 8.38. Loan Modification 107 Section 8.39. Consent to Bail-In Fees 107 Section 8.40. Insurance, Casualty and Condemnation Provisions 107 Section 8.41. Assumption by New Borrowers; Release of Affected Financial Institutions 98 ARTICLE IX CFSC GUARANTY 99 SECTION 9.01Original Borrowers 108 Section 8.42. The Guaranty 99Origination of Loan; Payments Made 108 Exhibit A Additional Definitions Exhibit B Deferred Maintenance Exhibit C Individual Properties and Allocated Loan Amounts Exhibit D Franchisors and Managers Exhibit E Operating Budget Exhibit F FF&E Financing Exhibit G Organizational Chart Exhibit H Property Improvement Plans Exhibit I Required Expenditure Amounts for Individual Properties Exhibit J Capital Improvements and PIP Schedule Exhibit K Upfront Remediation Schedule 1 Litigation Schedule 2 Franchise Defaults Schedule 3 Amortization Schedule AMENDED AND RESTATED LOAN AGREEMENT THIS AMENDED AND RESTATED LOAN AGREEMENT, made as of December 20, 2005, is by and between (i) XXXXXXX XXXXX MORTGAGE LENDING, INC., a Delaware corporation (in such capacity, and together with its successors and assigns “Lender”), (ii) XXXXXXX XXXXXXX CITY LIMITED PARTNERSHIP, NEW CLEAR LAKE HOTEL LIMITED PARTNERSHIP and NEW INDIANAPOLIS DOWNTOWN HOTEL LIMITED PARTNERSHIP, each a Delaware limited partnership (individually and collectively, as the context may require, “Original Borrower”), and (iii) XXXXXXX XXXXXXX CITY LIMITED PARTNERSHIP, NEW CLEAR LAKE HOTEL LIMITED PARTNERSHIP, NEW INDIANAPOLIS DOWNTOWN HOTEL LIMITED PARTNERSHIP, PALM BEACH FLORIDA HOTEL AND OFFICE BUILDING LIMITED PARTNERSHIP, ST. PETERSBURG FLORIDA HOTEL LIMITED PARTNERSHIP, each a Delaware limited liability company (individually and collectively, as the context may require, together with each Borrower’s successors and assigns, “Borrower”).

REPRESENTATIONS AND WARRANTIES      60. SECTION 4.01Section 4.1. Representations Existence; Power 60 Section 4.2. Organizational Power; Authorization 61 Section 4.3. Governmental Approvals; No Conflicts 61 Section 4.4. Financial Statements 61 Section 4.5. Litigation and Warranties Environmental Matters 62 Section 4.6. Compliance with Laws and Agreements 62 Section 4.7. Investment Company Act 62 Section 4.8. Taxes 62 Section 4.9. Margin Regulations 62 Section 4.10. ERISA 63 Section 4.11. Ownership of the Borrowers 60 SECTION 4.02Property; Insurance 64 Section 4.12. Disclosure 64 Section 4.13. Labor Relations 65 Section 4.14. Subsidiaries 65 Section 4.15. Solvency 65 Section 4.16. Deposit and Disbursement Accounts 65 Section 4.17. Collateral Documents 65 Section 4.18. [Reserved] 66 Section 4.19. OFAC 66 Section 4.20. Patriot Act 66 Section 4.21. State and Federal Regulations 66 ARTICLE V AFFIRMATIVE COVENANTS 67 Section 5.1. Financial Statements and Other Information 67 Section 5.2. Notices of Material Events 68 Section 5.3. Existence; Conduct of Business 70 Section 5.4. Compliance with Laws 70 Section 5.5. Payment of Obligations 70 Section 5.6. Books and Records 70 Section 5.7. Visitation and Inspection 70 Section 5.8. Maintenance of Properties; Insurance 70 Section 5.9. Use of Proceeds; Margin Regulations 71 Section 5.10. Casualty and Condemnation 71 Section 5.11. Cash Management 71 Section 5.12. Additional Representations Subsidiaries and Warranties Collateral 72 Section 5.13. Additional Real Estate; Leased Locations 73 Section 5.14. Further Assurances 73 Section 5.15. Flood Insurance 73 Section 5.16. Designation and Conversion of CFSCRestricted Subsidiaries and Unrestricted Subsidiaries 74 Section 5.17. Post Closing Matters 75 ARTICLE VI FINANCIAL COVENANTS 75 Section 6.1. Total Leverage Ratio 75 Section 6.2. Interest Coverage Ratio 75 Section 6.3. Secured Leverage Ratio 75 ARTICLE VII NEGATIVE COVENANTS 75 Section 7.1. Indebtedness and Preferred Equity 75 Section 7.2. Liens 77 Section 7.3. Fundamental Changes 78 Section 7.4. Investments, CIF Loans 78 Section 7.5. Restricted Payments 79 Section 7.6. Sale of Assets 81 Section 7.7. Transactions with Affiliates 81 Section 7.8. Restrictive Agreements 81 Section 7.9. Sale and CFKKLeaseback Transactions 82 Section 7.10. 63 ARTICLE V COVENANTS OF THE BORROWERS 63 SECTION 5.01Hedging Transactions 82 Section 7.11. Affirmative Covenants 63 SECTION 5.02Amendment to Organizational Documents 82 Section 7.12. Accounting Changes 82 Section 7.13. Lease Obligations 82 Section 7.14. Government Regulation 82 Section 7.15. Embargoed Person 83 Section 7.16. Prepayment and Amendment of Unsecured Indebtedness 83 Section 7.17. Negative Covenants 67 SECTION 5.03. Financial Covenant of Caterpillar 68 SECTION 5.04. Financial and Other Covenants of CFSC 68 Pledge on Gulf LNG Capital Stock 83 ARTICLE VI VIII EVENTS OF DEFAULT 68 TABLE OF CONTENTS (continued) Page SECTION 6.0184 Section 8.1. Events of Default 68 84 Section 8.2. Application of Proceeds from Collateral 86 ARTICLE VII AGENCY 72 SECTION 7.01IX THE ADMINISTRATIVE AGENT 87 Section 9.1. Appointment and Authority 72 SECTION 7.02of the Administrative Agent 87 Section 9.2. Agent Individually 72 SECTION 7.03. Nature of Duties of Agent; Exculpatory Provisions 73 SECTION 7.04the Administrative Agent 88 Section 9.3. Lack of Reliance on the Administrative Agent 88 Section 9.4. Certain Rights of the Administrative Agent 88 Section 9.5. Reliance by the Administrative Agent 74 SECTION 7.0589 Section 9.6. Delegation The Administrative Agent in its Individual Capacity 89 Section 9.7. Successor Administrative Agent 89 Section 9.8. Withholding Tax 90 Section 9.9. The Administrative Agent May File Proofs of Duties 75 SECTION 7.06Claim 90 Section 9.10. Resignation or Removal of Agent 75 SECTION 7.07Authorization to Execute Other Loan Documents 91 Section 9.11. Non-Reliance Collateral and Guaranty Matters 91 Section 9.12. Syndication Agents; Documentation Agents 91 Section 9.13. Right to Realize on Agents Collateral and Other Banks 76 SECTION 7.08Enforce Guarantee 92 Section 9.14. No Other Duties, etc 77 SECTION 7.09Secured Bank Product Obligations and Hedging Obligations 92 ARTICLE X MISCELLANEOUS 92 Section 10.1. Indemnification 78 SECTION 7.10Notices 92 Section 10.2. Bank ERISA Matters 78 SECTION 7.11. Erroneous Payments. 80 ARTICLE VIII MISCELLANEOUS 83 SECTION 8.01. Amendments, Etc. 83 SECTION 8.02. Notices; Communications, Etc. 84 SECTION 8.03. No Waiver; Remedies 87 SECTION 8.04Amendments 95 Section 10.3. Costs, Expenses Expenses; Indemnification 97 Section 10.4. Successors and Taxes 87 SECTION 8.05Assigns 98 Section 10.5. Governing Law; Jurisdiction; Consent to Service of Process 102 Section 10.6. WAIVER OF JURY TRIAL 102 Section 10.7. Right of Set-off 89 SECTION 8.06102 Section 10.8. Binding Effect 89 SECTION 8.07Counterparts; Integration 103 Section 10.9. Assignments and ParticipationsSurvival 103 Section 10.10. 89 SECTION 8.08Severability 103 Section 10.11. Governing Law; Submission to Jurisdiction; Service of ProcessConfidentiality 103 Section 10.12. 92 SECTION 8.09. Caterpillar as Agent for the Borrowers 93 SECTION 8.10. Judgment Currency 93 SECTION 8.11. Execution in Counterparts 93 SECTION 8.12Interest Rate Limitation 104 Section 10.13. Waiver of Jury Trial 94 SECTION 8.13Effect of Corporate Seal 104 Section 10.14. USA Patriot Act Notification 94 SECTION 8.14. Confidentiality 94 SECTION 8.15. Treatment of Information 96 SECTION 8.16. Termination of Prior Agreement 97 SECTION 8.17104 Section 10.15. No Advisory or Fiduciary Duty 98 SECTION 8.18Responsibility 104 Section 10.16. Arrangers 98 SECTION 8.19Location of Closing 105 Section 10.17. Acknowledgement Amendment and Consent Restatement 105 Section 10.18. Release of Loan Documents 105 Schedules Schedule I - Commitment Amounts Schedule 1.1 - Mortgaged Property as of the Closing Date Schedule 4.5 - Environmental Matters Schedule 4.11 - Real Estate Schedule 4.14 - Subsidiaries Schedule 4.16 - Deposit and Disbursement Accounts Schedule 4.17 - Mortgaged Property covered by Flood Insurance Schedule 4.21 - State and Federal Regulation Schedule 5.17 - Post-Closing Matters Schedule 7.1 - Existing Indebtedness Schedule 7.2 - Existing Liens Schedule 7.4 - Existing Investments Exhibits Exhibit A - Form of Assignment and Acceptance Exhibit B-1 - Form of U.S. Tax Compliance Certificate (Lenders - Not Partnerships) Exhibit B-2 - Form of U.S. Tax Compliance Certificate (Participants - Not Partnerships) Exhibit B-3 - Form of U.S. Tax Compliance Certificate (Lenders - Partnerships) Exhibit B-4 - Form of U.S. Tax Compliance Certificate (Participants - Partnerships) Exhibit 2.3 - Form of Notice of Revolving Borrowing Exhibit 2.4 - Form of Notice of Swingline Borrowing Exhibit 2.7 - Form of Notice of Continuation/Conversion Exhibit 3.1(b)(ii) - Form of Secretary’s Certificate Exhibit 3.1(b)(v) - Form of Officer’s Certificate Exhibit 5.1(c) - Form of Compliance Certificate SECOND AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT THIS SECOND AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT (this “Agreement”) is made and entered into as of November 12, 2013, by and among ARC LOGISTICS PARTNERS LP, a Delaware limited partnership (the “MLP”), ARC LOGISTICS LLC, a Delaware limited liability company (the “Parent”), ARC TERMINALS HOLDINGS LLC, a Delaware limited liability company (the “Borrower”), the several banks and other financial institutions and lenders from time to Bail-In of Affected Financial Institutions 98 ARTICLE IX CFSC GUARANTY 99 SECTION 9.01. The Guaranty 99time party hereto (the “Lenders”) and SUNTRUST BANK, in its capacity as administrative agent for the Lenders (the “Administrative Agent”), as issuing bank (the “Issuing Bank”) and as swingline lender (the “Swingline Lender”).

REPRESENTATIONS AND WARRANTIES      60. SECTION 4.01Section 6.1. Corporate Existence; Subsidiaries; Foreign Qualification 60 Section 6.2. Corporate Authority 60 Section 6.3. Compliance with Laws and Contracts 60 Section 6.4. Litigation and Administrative Proceedings 61 Section 6.5. Title to Assets 61 Section 6.6. Liens and Security Interests 61 Section 6.7. Tax Returns 62 Section 6.8. Environmental Laws 62 Section 6.9. Continued Business 62 Section 6.10. Employee Benefits Plans 62 Section 6.11. Consents or Approvals 63 Section 6.12. Solvency 64 Section 6.13. Financial Statements 64 Section 6.14. Regulations 64 Section 6.15. Material Agreements 64 Section 6.16. Intellectual Property 65 Section 6.17. Insurance 65 Section 6.18. Accurate and Complete Statements 65 Section 6.19. Investment Company; Other Restrictions 65 Section 6.20. Defaults 65 ARTICLE VII. EVENTS OF DEFAULT 65 Section 7.1. Payments 65 Section 7.2. Special Covenants 65 Section 7.3. Other Covenants 65 Section 7.4. Representations and Warranties 66 Section 7.5. Cross Default 66 Section 7.6. ERISA Default 66 Section 7.7. Change in Control 66 Section 7.8. Judgments 66 Section 7.9. Material Adverse Change 66 Section 7.10. Security 66 Section 7.11. Validity of the Borrowers 60 SECTION 4.02. Additional Representations and Warranties of CFSC, CIF and CFKK. 63 ARTICLE V COVENANTS OF THE BORROWERS 63 SECTION 5.01. Affirmative Covenants 63 SECTION 5.02. Negative Covenants Loan Documents 67 SECTION 5.03. Financial Covenant of Caterpillar 68 SECTION 5.04. Financial and Other Covenants of CFSC 68 ARTICLE VI EVENTS OF DEFAULT 68 ii TABLE OF CONTENTS (continued) Page SECTION 6.01Section 7.12. Events Solvency 67 ARTICLE VIII. REMEDIES UPON DEFAULT 68 Section 8.1. Optional Defaults 68 Section 8.2. Automatic Defaults 68 Section 8.3. Letters of Default Credit 68 Section 8.4. Offsets 68 Section 8.5. Equalization Provisions 69 Section 8.6. Other Remedies 70 Section 8.7. Application of Proceeds 70 ARTICLE VII AGENCY IX. THE AGENT 72 SECTION 7.01Section 9.1. Appointment and Authority Authorization 72 SECTION 7.02Section 9.2. Note Holders 72 Section 9.3. Consultation With Counsel 72 Section 9.4. Documents 72 Section 9.5. Agent Individually 72 SECTION 7.03and Affiliates 73 Section 9.6. Duties Knowledge or Notice of Agent; Exculpatory Provisions Default 73 SECTION 7.04Section 9.7. Reliance Action by Agent 74 SECTION 7.0573 Section 9.8. Release of Guarantor of Payment or Pledge of Stock 73 Section 9.9. Delegation of Duties 75 SECTION 7.0674 Section 9.10. Resignation or Removal Indemnification of Agent 74 Section 9.11. Successor Agent 74 Section 9.12. Fronting Lender 74 Section 9.13. Swing Line Lender 75 SECTION 7.07Section 9.14. Non-Agent May File Proofs of Claim 75 Section 9.15. No Reliance on Agent’s Customer Identification Program 75 Section 9.16. Other Agents and Other Banks 76 SECTION 7.08ARTICLE X. MISCELLANEOUS 76 Section 10.1. No Other Duties, etc 77 SECTION 7.09. Indemnification 78 SECTION 7.10. Bank ERISA Matters 78 SECTION 7.11. Erroneous Payments. 80 ARTICLE VIII MISCELLANEOUS 83 SECTION 8.01. Amendments, Etc. 83 SECTION 8.02. Notices; Communications, Etc. 84 SECTION 8.03Lenders’ Independent Investigation 76 Section 10.2. No Waiver; Cumulative Remedies 87 SECTION 8.0476 Section 10.3. Amendments, Waivers and Consents 76 Section 10.4. Notices 78 Section 10.5. Costs, Expenses and Taxes 87 SECTION 8.0578 Section 10.6. Right of Set-off 89 SECTION 8.06Indemnification 79 Section 10.7. Obligations Several; No Fiduciary Obligations 79 Section 10.8. Execution in Counterparts 79 Section 10.9. Binding Effect 89 SECTION 8.07Effect; Borrower’s Assignment 79 Section 10.10. Lender Assignments and Participations79 Section 10.11. 89 SECTION 8.08Sale of Participations 81 Section 10.12 Replacement of Affected Lenders 82 Section 10.13. Patriot Act Notice 82 Section 10.14. Severability of Provisions; Captions; Attachments 82 Section 10.15. Investment Purpose 83 Section 10.16. Entire Agreement 83 Section 10.17. Limitations on Liability of the Fronting Lender 83 iii TABLE OF CONTENTS Page Section 10.18. General Limitation of Liability 83 Section 10.19. No Duty 83 Section 10.20. Legal Representation of Parties 84 Section 10.21. Currency 84 Section 10.22. Governing Law; Submission to JurisdictionJurisdiction 85 Exhibit A Form of Revolving Credit Note Exhibit B Form of Swing Line Note Exhibit C Form of Term Note Exhibit D Form of Notice of Loan Exhibit E Form of Compliance Certificate Exhibit F Form of Assignment and Acceptance Agreement Schedule 1 Guarantors of Payment Schedule 2 Pledged Securities Schedule 2.3 Term Loan Payment Amount Schedule 5.8 Indebtedness Schedule 5.9 Liens Schedule 5.11 Permitted Foreign Subsidiary Loans, Guaranties and Investments Schedule 6.1 Corporate Existence; Service Subsidiaries; Foreign Qualification Schedule 6.4 Litigation and Administrative Proceedings Schedule 6.10 Employee Benefits Plans Schedule 6.15 Material Agreements This CREDIT AGREEMENT (as the same may from time to time be amended, restated or otherwise modified, this “Agreement”) is made effective as of Process. 92 SECTION 8.09. Caterpillar as Agent for the Borrowers 93 SECTION 8.10. Judgment Currency 93 SECTION 8.11. Execution in Counterparts 93 SECTION 8.12. Waiver 2nd day of Jury Trial 94 SECTION 8.13. USA Patriot Act Notification 94 SECTION 8.14. Confidentiality 94 SECTION 8.15. Treatment of Information 96 SECTION 8.16. Termination of Prior Agreement 97 SECTION 8.17. No Fiduciary Duty 98 SECTION 8.18. Arrangers 98 SECTION 8.19. Acknowledgement and Consent to Bail-In of Affected Financial Institutions 98 ARTICLE IX CFSC GUARANTY 99 SECTION 9.01. The Guaranty 99February, 2010 among:

REPRESENTATIONS AND WARRANTIES      60. SECTION 4.01Section 4.1. Representations and Warranties of the Borrowers Borrower and Operating Lessee 60 SECTION 4.02Section 4.2. Additional Survival of Representations and Warranties of CFSC, CIF and CFKK69 ARTICLE 5 AFFIRMATIVE COVENANTS 69 Section 5.1. 63 Borrower Covenants 69 ARTICLE V 6 NEGATIVE COVENANTS OF THE BORROWERS 63 SECTION 5.0188 Section 6.1. Affirmative Covenants 63 SECTION 5.02. Borrower Negative Covenants 67 SECTION 5.0388 ARTICLE 7 DEFAULTS 90 Page Section 7.1. Financial Covenant of Caterpillar 68 SECTION 5.04. Financial and Other Covenants of CFSC 68 ARTICLE VI EVENTS OF DEFAULT 68 TABLE OF CONTENTS (continued) Page SECTION 6.01. Events Event of Default 68 90 Section 7.2. Remedies 94 Section 7.3. Remedies Cumulative 94 Section 7.4. Lender’s Right to Perform 95 ARTICLE VII AGENCY 72 SECTION 7.018 MISCELLANEOUS 95 Section 8.1. Appointment and Authority 72 SECTION 7.02Survival 95 Section 8.2. Agent Individually 72 SECTION 7.03. Duties of Agent; Exculpatory Provisions 73 SECTION 7.04. Reliance by Agent 74 SECTION 7.05. Delegation of Duties 75 SECTION 7.06. Resignation or Removal of Agent 75 SECTION 7.07. Non-Reliance on Agents and Other Banks 76 SECTION 7.08. No Other Duties, etc 77 SECTION 7.09. Indemnification 78 SECTION 7.10. Bank ERISA Matters 78 SECTION 7.11. Erroneous Payments. 80 ARTICLE VIII MISCELLANEOUS 83 SECTION 8.01. Amendments, Etc. 83 SECTION 8.02. Notices; Communications, Etc. 84 SECTION 8.03. No Waiver; Remedies 87 SECTION 8.04. Costs, Expenses and Taxes 87 SECTION 8.05. Right of Set-off 89 SECTION 8.06. Binding Effect 89 SECTION 8.07. Assignments and Participations. 89 SECTION 8.08Lender’s Discretion 95 Section 8.3. Governing Law; Submission to Jurisdiction; Service of ProcessLaw 96 Section 8.4. 92 SECTION 8.09Modification, Waiver in Writing 97 Section 8.5. Caterpillar as Agent for the Borrowers 93 SECTION Delay Not a Waiver 97 Section 8.6. Notices 97 Section 8.7. Trial By Jury 98 Section 8.8. Headings 99 Section 8.9. Assignment 99 Section 8.10. Judgment Currency 93 SECTION Severability 99 Section 8.11. Execution in Counterparts 93 SECTION Preferences 99 Section 8.12. Waiver of Jury Trial 94 SECTION Notice 99 Section 8.13. USA Patriot Act Notification 94 SECTION Remedies of Borrower 100 Section 8.14. Confidentiality 94 SECTION Exculpation 100 Section 8.15. Treatment of Information 96 SECTION Exhibits Incorporated 102 Section 8.16. Termination of Prior Agreement 97 SECTION Offsets, Counterclaims and Defenses 102 Section 8.17. No Fiduciary Duty 98 SECTION Joint Venture or Partnership 102 Section 8.18. Arrangers 98 SECTION Waiver of Marshalling of Assets Defense 102 Section 8.19. Acknowledgement Waiver of Counterclaim 103 Section 8.20. Conflict; Construction of Documents 103 Section 8.21. Brokers and Financial Advisors 103 Section 8.22. Counterparts 103 Section 8.23. Estoppel Certificates 103 Section 8.24. Payment of Expenses 104 Section 8.25. Bankruptcy Waiver 104 Section 8.26. Entire Agreement 105 Section 8.27. Dissemination of Information 105 Section 8.28. Limitation of Interest 105 Page Section 8.29. Indemnification 106 Section 8.30. Borrower Acknowledgments 106 Section 8.31. Publicity 106 Section 8.32. Intentionally omitted 107 Section 8.33. Cross-Collateralization 107 Section 8.34. Time of the Essence 107 Section 8.35. FINAL AGREEMENT 107 Section 8.36. [Intentionally omitted] 107 Section 8.37. Joint and Several Liability 107 Section 8.38. Loan Modification 107 Section 8.39. Consent to Bail-In Fees 107 Section 8.40. Insurance, Casualty and Condemnation Provisions 107 Exhibit A Additional Definitions Exhibit B Deferred Maintenance Exhibit C Individual Properties and Allocated Loan Amounts Exhibit D Franchisors and Managers Exhibit E Operating Budget Exhibit F FF&E Financing Exhibit G Organizational Chart Exhibit H Property Improvement Plans Exhibit I Required Expenditure Amounts for Individual Properties Exhibit J Capital Improvements and PIP Schedule Exhibit K Upfront Remediation Schedule 1 Litigation Schedule 2 Franchise Defaults Schedule 3 Amortization Schedule AMENDED AND RESTATED LOAN AGREEMENT THIS AMENDED AND RESTATED LOAN AGREEMENT, made as of Affected Financial Institutions 98 ARTICLE IX CFSC GUARANTY 99 SECTION 9.01. The Guaranty 99October 13, 2005, is by and between (i) MXXXXXX LXXXX MORTGAGE LENDING, INC., a Delaware corporation (in such capacity, and together with its successors and assigns “Lender”), (ii) AXXXXXX XXXXXXX SEA WORLD LIMITED PARTNERSHIP, ASHFORD SALT LAKE LIMITED PARTNERSHIP, AXXXXXX XXXX PALM DESERT I LIMITED PARTNERSHIP, AXXXXXX XXXXXXXXX LIMITED PARTNERSHIP, ASHFORD OVERLAND PARK LIMITED PARTNERSHIP and ASHFORD RALEIGH LIMITED PARTNERSHIP, each a Delaware limited partnership (individually and collectively, as the context may require, “Borrower”) and (iii) AXXXXXX XXXXXXX SEA WORLD LIMITED PARTNERSHIP, ASHFORD SALT LAKE LIMITED PARTNERSHIP, AXXXXXX XXXX PALM DESERT I LIMITED PARTNERSHIP, AXXXXXX XXXXXXXXX LIMITED PARTNERSHIP, ASHFORD OVERLAND PARK LIMITED PARTNERSHIP, ASHFORD RALEIGH LIMITED PARTNERSHIP, KEY WEST FLORIDA HOTEL LIMITED PARTNERSHIP, MINNETONKA MINNESOTA HOTEL LIMITED PARTNERSHIP and ANNAPOLIS MARYLAND HOTEL LIMITED PARTNERSHIP, each a Delaware limited partnership (individually and collectively, as the context may require, together with each Borrower’s successors and assigns, “Borrower”).