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Gottesman (LG-7061) Michelle McMahon (MM-8130) 1290 Avenue of the Americas New York, New York 10104 (212) 541-2000 and DUANE MORRIS LLP Phillip K. Wang, Esq. (admitted pro hac vice) One Market Plaza, Spear Tower, Suite 2200 San Francisco, CA 94105-1127 (415) 957-3185
Objection Deadline: Aug. 27, 2010 at 4:00 p.m. Presentment Date: Aug. 30, 2010 at 10:00 a.m.
Attorneys for Wells Fargo Bank, N.A., as Trustee for the registered holders of Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 2007-C1 and U.S. Bank National Association, as Trustee for the registered holders of ML-CFC Commercial Mortgage Trust 2006-4, Commercial Mortgage Pass-Through Certificates, Series 2006-4 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK x In re: INNKEEPERS USA TRUST, et al., Debtors. : : (Jointly Administered) : x JOINDER OF WELLS FARGO BANK, N.A., AS TRUSTEE FOR THE REGISTERED HOLDERS OF CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-C1 AND U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR THE REGISTERED HOLDERS OF ML-CFC COMMERCIAL MORTGAGE TRUST 2006-4, COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4 TO MIDLAND LOAN SERVICES, INC.S LIMITED OBJECTION TO STIPULATION BETWEEN INNKEEPERS USA TRUST AND MARRIOTT INTERNATIONAL, INC. Wells Fargo Bank, N.A., as Trustee for the registered holders of Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 2007-C1 and U.S. Bank National Association, as Trustee for the registered holders of ML-CFC Commercial Mortgage Trust 2006-4, Commercial Mortgage Pass-Through Certificates, Series Chapter 11 Case No.: 10-13800 (SCC)
2006-4 (jointly, the Property Level Lenders), by their undersigned counsel, hereby join in the Limited Objection (the Midland Objection) filed by Midland Loan Services, Inc. to the Stipulation Between Innkeepers USA Trust and Marriott International, Inc. (the Stipulation), filed by the Debtors in this case.1 In support of this joinder, the Property Level Lenders respectfully state as follows: 1. On July 19, 2010 (the Petition Date), the Debtors filed voluntary petitions for
relief under chapter 11 of the Bankruptcy Code commencing these bankruptcy cases. 2. The Debtors are debtors-in-possession and continue to operate their businesses
pursuant to 11 U.S.C. 1107 and 1108. 3. July 28, 2010. 4. The Property Level Lenders are commercial mortgage backed securitization trusts An official committee of unsecured creditors (the Committee) was appointed on
and hold mortgage loans (collectively, the Property Level Loans) secured by first-priority, perfected mortgages, liens and security interests on and in each of the hotel properties commonly know as Residence Inn San Diego, Residence Inn Garden Grove, Double Tree Guest Suites Washington D.C., Residence Inn Tysons Corner, and Homewood Suites San Antonio (collectively, the Hotel Properties) and related personal property (including all cash generated thereby), owned or leased by certain of the Debtors (the Property Level Debtors) arising from various secured loan transactions entered into prior to the Petition Date, all as more particularly described in the applicable mortgages, notes, agreements and all other documents executed or delivered in connection with each Property Level Loan (collectively, the Loan Documents).
Unless otherwise defined herein, all capitalized terms used herein shall have the same meanings ascribed to such terms in the Stipulation.
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As of the Petition Date, the aggregate outstanding unpaid principal balance of the Property Level Loans was in the approximate amount of $160 million.2 5. For the reasons set forth in the Midland Objection, which is hereby incorporated
by reference, the Property Level Lenders respectfully request that the Court not approve the Stipulation to the extent set forth in the Midland Objection and grant such other and further relief as the Court deems just. Dated: August 27, 2010 New York, New York
/s/ Lawrence P. Gottesman Lawrence P. Gottesman (LG-7061) Michelle McMahon (MM-8130) 1290 Avenue of the Americas New York, New York 10104 Tel: 212-541-2000; Fax: 212-541-4630
lawrence.gottesman@bryancave.com michelle.mcmahon@bryancave.com
and DUANE MORRIS LLP Phillip K. Wang, Esq. (admitted pro hac vice) San Francisco, CA 94105-1127 Tel: (415) 957.3185; Fax: (415) 358.4725 pwang@duanemorris.com Attorneys for Wells Fargo Bank, N.A., as Trustee for the registered holders of Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 2007-C1 and U.S. Bank National Association, as Trustee for the registered holders of ML-CFC Commercial Mortgage Trust 2006-4, Commercial Mortgage Pass-Through Certificates, Series 2006-4
This amount does not include accrued and unpaid yield maintenance premiums, interest at the base and default rates, late charges and fees, attorneys fees and expenses and various other amounts in addition to the outstanding principal balances that are or may be due under the Loan Documents.
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BRYAN CAVE LLP Lawrence P. Gottesman (LG-7061) Michelle McMahon (MM-8130) 1290 Avenue of the Americas New York, New York 10104 (212) 541-2000 and DUANE MORRIS LLP Phillip K. Wang, Esq. One Market Plaza, Spear Tower, Suite 2200 San Francisco, CA 94105-1127 (415) 957-3185 Attorneys for Wells Fargo Bank, N.A., as Trustee for the registered holders of Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 2007-C1 and U.S. Bank National Association, as Trustee for the registered holders of ML-CFC Commercial Mortgage Trust 2006-4, Commercial Mortgage Pass-Through Certificates, Series 2006-4 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK In re: INNKEEPERS USA TRUST, et al., Debtors.
CERTIFICATE OF SERVICE I, Lawrence Gottesman, hereby certify, under penalty of perjury, that on August 27, 2010, I caused a copy of the Joinder Of Wells Fargo Bank, N.A., As Trustee For The Registered Holders Of Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 2007-C1 And U.S. Bank National Association, As Trustee For The Registered Holders Of ML-CFC Commercial Mortgage Trust 2006-4, Commercial Mortgage Pass-Through Certificates, Series 2006-4 To Midland Loan Services, Inc.s Limited Objection To Stipulation Between Innkeepers USA Trust And Marriott International, Inc. to be served by First Class US Mail upon the parties listed on the attached service list. Dated: August 24, 2010 BRYAN CAVE LLP /s/ Lawrence P. Gottesman________________ Lawrence P. Gottesman (LG-7761 ) 1290 Avenue of the Americas New York, New York 10104-3300 (212) 541-2000 (tel) (212) 541-4630 (fax) Lawrence.gottesman@bryancave.com
Distribution List
American Hotel Register Co. 16458 Collections Center Drive Chicago, IL 60693 FAX: 847-743-2079 Arnold & Porter LLP Counsel to Five Mile Attn: Marc Daniel 399 Park Avenue New York, NY 10022 FAX: 212-715-1399 Email: Marc.Daniel@aporter.com Brickman Group, Ltd 3630 Solutions Center Chicago, IL 60677 FAX: 301-505-9403 Capmark Finance Inc. Attn: Portfolio Manager, Specialty Asset Management 1600 Tysons Blvd Suite 1100 McLean, VA 22102 FAX: 703-749-4399 Cintas Corporation 97627 Eagle Way Chicago, IL 60678-9760 FAX: 708-563-0108 CW Capital Asset Management LLC 18500 Von Karman Avenue, Suite 515 Attn: Ira Haynie Irvine, CA 92612 Dechert LLP c/o Stephanie M. Tita 30 Rockefeller Plaza New York, NY 10112 FAX: 212-698-3599 Email: stephanie.tita@dechert.com Apollo Investment Corporation Attn: Joseph D. Glatt 9 West 57th Street New York, New York 10019 FAX: (212) 515-3443 Email: JGlatt@apollocapital.com Arnold & Porter LLP Counsel to Five Mile Attn: Michael Canning 399 Park Avenue New York, NY 10022 FAX: 212-715-1399 Email: michael.canning@aporter.com Bryan Cave LLP c/ Michelle McMahon, Esq 1290 Avenue of the Americas New York, NY 10104 FAX: 212-541-4630 Email: michelle.mcmhaon@bryancave.com Carrier Corp PO Box 905303 Charlotte, NC 28290 FAX: 860-622-7331 Counsel to Apollo Investment Group Alan W. Kornberg, Esq. Paul, Weiss, Rifkand, Wharton & Garrison, LLP 1285 Avenue of the Americas New York, NY 10019-6064 FAX: 212-757-3990 Email: akornberg@paulweiss.com CWCapital Performing Loan ManagementCMBS Ira Haynie, Associate-Asset Manager 18500 Von Karman Avenue, Suite 515 Irvine, CA 92612 Email: ihaynie@cwcapital.com Dechert LLP Counsel to Lehman Attn: Andrew L. Buck 1095 Avenue of the Americas New York, NY 10036 FAX: 212-698-3599 Email: Andrew.Buck@dechert.com Arnold & Porter LLP Counsel to Five Mile Attn: Alan Lawrence 399 Park Avenue New York, NY 10022 FAX: 212-715-1399 Email: Alan.Lawrence@aporter.com Best Western International, Inc. 6201 North 24th Parkway Phoenix, AZ 85016 FAX: 602-957-5641 Bryan Cave LLP c/o Lawrence P. Gottesman, Esq 1290 Avenue of the Americas New York, NY 10104 FAX: 212-541-4630 Email: lawrence.gotteman@bryancave.com Centerline Servicing, Inc. Attn: Steve Oltmann 5221 N OConnor Blvd, Suite 600 Irving, TX 75039 Email: soltmann@centerline.com CSE Mortgage, LLC 4445 Willard Avenue 12th Floor Chevy Chase, MD 20815 FAX: 301-841-2340 Dechert LLP Attn: Nicole B. Herther-Spiro 1095 Avenue of the Americas New York, NY 10036 FAX: (212) 698-3599 Email: nicole.hertherspiro@dechert.com Dechert LLP Counsel to Lehman Attn: Brian E. Greer 1095 Avenue of the Americas New York, NY 10036 FAX: 212-698-3599 Email: Brian.Greer@dechert.com Dechert LLP Counsel to Lehman Attn: Justin Gdula 1095 Avenue of the Americas New York, NY 10036 FAX: 212-698-3599 Email: Justin.Gdula@dechert.com Deutsche Bank Securities Inc. Attn: General Counsel 1301 Avenue of the Americas 8th Floor New York, NY 10019 Duane Morris LLP Attn: Phillip K. Wang Counsel for LNR Partners, LLC, One Market Plaza, Spear Tower Suite 2200 San Francisco, CA 94105-1127 FAX: (415) 358-4725 Email: pwang@duanemorris.com Elite Heating & Air 214 Cherry Avenue Voorhees, NJ 08043 FAX: 856-354-8655
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Kasowitz, Benson, Torres & Friedman LLP c/o Adam L. Shiff, Esq. Counsel for Five Mile Capital Partners LLC 1633 Broadway New York, NY 10019 FAX: 212-506-1800 Email: ashiff@kasowitz.com
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