Release of Guarantor Agreement between Service Properties Trust, U.S. Bank National Association, and SVCN 1 LLC
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Summary
This agreement, dated October 1, 2020, confirms that U.S. Bank National Association, as Trustee, releases SVCN 1 LLC (a subsidiary of Service Properties Trust) from all obligations and liabilities as a guarantor under a previous indenture related to the company's 7.50% Senior Notes due 2025. The release is effective as of September 14, 2020, and means SVCN 1 LLC is no longer responsible for guaranteeing the notes or any related obligations under the referenced agreements.
EX-10.5 6 exhibit105-releaseofce.htm EX-10.5 Document
Exhibit 10.5
RELEASE OF CERTAIN GUARANTORS
Reference is made to that certain Ninth Supplemental Indenture, dated as of June 17, 2020, as supplemented by the Supplemental Indenture, dated as of July 15, 2020 (the “Ninth Supplemental Indenture”), among Service Properties Trust (formerly known as Hospitality Properties Trust), a Maryland real estate investment trust, U.S. Bank National Association, as Trustee (the “Trustee”), each of the Subsidiaries listed on Schedule 1 attached hereto (each, a “Released Guarantor”) and certain other Subsidiaries of the Company, as Guarantors, to the Indenture, dated as of February 3, 2016 (the “Indenture”), between the Company and the Trustee, relating to the Company’s 7.50% Senior Notes due 2025 (the “Notes”). The terms defined in the Ninth Supplemental Indenture are used herein as therein defined, unless otherwise defined herein.
Pursuant to Section 6 of the Ninth Supplemental Indenture, the undersigned, as Trustee, hereby confirms the release and discharge of each Released Guarantor from any and all obligations and liabilities under the Subsidiary Guarantee, and further hereby confirms the termination and release of each Released Guarantor of all other obligations under the Ninth Supplemental Indenture, the Indenture or the Notes, each as of September 14, 2020.
Dated as of October 1, 2020.
U.S. Bank National Association, as Trustee
By: /s/ David W. Doucette______________
Name: David W. Doucette
Title: Vice President
SCHEDULE 1
RELEASED GUARANTORS
1.SVCN 1 LLC, a Delaware limited liability company