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FORM OF NOTE

Promissory Note

FORM OF NOTE | Document Parties: FELCOR LODGING TRUST INC | JPMorgan Chase Bank, NA You are currently viewing:
This Promissory Note involves

FELCOR LODGING TRUST INC | JPMorgan Chase Bank, NA

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Title: FORM OF NOTE
Date: 8/6/2009
Industry: Real Estate Operations     Sector: Services

FORM OF NOTE, Parties: felcor lodging trust inc , jpmorgan chase bank  na
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Exhibit 10.3

FORM OF NOTE

$_______________

June __, 2009

FOR VALUE RECEIVED, the undersigned (the “Borrowers”), HEREBY JOINTLY AND SEVERALLY PROMISE TO PAY to the order of _________________ or its registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of the Loan from time to time made by the Lender to the Borrowers under that certain Term Loan Agreement, dated as of June __, 2009 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”, the capitalized terms being used herein and not defined, have the meanings set forth in such Agreement as therein defined), among the Borrowers, the Lenders from time to time party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent.

Each Borrower jointly and severally promises to make payments of principal in the amounts and at the times required by the Agreement to the Administrative Agent for the benefit of Lenders. The Borrowers jointly and severally promise to pay interest on the unpaid principal amount of the Loan made by the Lender from the date of such Loan until such principal amount is paid in full, at such interest rates (which shall not exceed the maximum rate permitted by applicable law) and at such times as provided in the Agreement.

All payments of principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. Each Loan made by the Lender to the Borrowers pursuant to the Agreement, and all payments made on account


 
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