Reaffirmation of Collateral Agency Agreement

EXHIBIT 10.4

Reaffirmation of Collateral Agency Agreement

Each of the undersigned, JPMorgan Chase Bank, N.A., as collateral agent (in such capacity, the “ Collateral Agent ”) for the Secured Parties (as defined in the Collateral Agency Agreement) and as administrative agent (in such capacity, the “ Administrative Agent ”) for the Lenders (as defined herein), U.S. Bank National Association, as Trustee (the “ New Trustee ”), on behalf of holders of the New Debentures and U.S. Bank National Association, as successor to Suntrust Bank, as Trustee (the “ Existing Trustee ”), on behalf of the holders of the Existing Debentures pursuant to the Collateral Agency Agreement, dated as of October 31, 2006 (the “ Collateral Agency Agreement ”), by and among Collateral Agent, New Trustee, Existing Trustee, FelCor Holdings Trust (“ Pledgor ”), FelCor Lodging Trust Incorporated (“ FelCor Trust ”) and FelCor Lodging Limited Partnership (“ FelCor Partnership ”, together with FelCor Trust, the “ Borrowers ”), in connection with that certain Credit Agreement, dated as of December 12, 2005, as amended (the “ Original Credit Agreement ”), by and among Pledgor and B