United States Bankruptcy Court Southern District of New York

UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK In re: INNKEEPERS USA TRUST, et al.,1 Debtors.
) ) ) ) ) ) ) Chapter 11 Case No. 10-13800 (SCC) Jointly Administered
STIPULATION BETWEEN THE DEBTORS AND TRIMONT REAL ESTATE ADVISORS, INC. AND ORDER REGARDING TRIMONT REAL ESTATE ADVISORS, INC.S MOTION TO LIFT THE AUTOMATIC STAY
1
Innkeepers USA Trust and certain of its affiliates as debtors and debtors in possession (collectively, the Debtors) and TriMont Real Estate Advisors, Inc. (TriMont, and together with the Debtors, the Parties) hereby enter into this stipulation and agreed order (the Stipulation and Order). WHEREAS, on July 19, 2010 (the Petition Date), the Debtors commenced these voluntary cases under title 11 of the United States Code (the Bankruptcy Code) and are continuing to operate their business and manage their properties as debtors in possession pursuant to sections 1107 and 1108 of the Bankruptcy Code; WHEREAS, upon the filing of the Debtors chapter 11 petitions, the automatic stay of section 362 of the Bankruptcy Code came into effect and stayed certain actions against the Debtors;
The list of Debtors in these Chapter 11 Cases along with the last four digits of each Debtors federal tax identification number can be found by visiting the Debtors restructuring website at www.omnimgt.com/innkeepers or by contacting Omni Management Group, LLC at Innkeepers USA Trust c/o Omni Management Group, LLC, 16161 Ventura Boulevard, Suite C, PMB 606, Encino, California 91436. The location of the Debtors corporate headquarters and the service address for their affiliates is: c/o Innkeepers USA, 340 Royal Poinciana Way, Suite 306, Palm Beach, Florida 33480.
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WHEREAS, on July 28, 2010, the Office of the United States Trustee appointed an official committee of unsecured creditors; WHEREAS, on August 31, 2010, TriMont filed the Motion of TriMont Real Estate Advisors, Inc. as Special Servicer, for an Order Terminating the Automatic Stay Pursuant to Section 362(d) of the Bankruptcy Code and Federal Rule of Bankruptcy Procedures 4001 [Docket No. 359] (the TriMont Lift Stay Motion); and WHEREAS, on September 3, 2010, TriMont filed the Declaration of Travis Shelhorse in Support of Motion of TriMont Real Estate Advisors, Inc., as Special Servicer, for an Order Terminating the Automatic Stay Pursuant to Section 362(d) of the Bankruptcy Code and Federal Rule of Bankruptcy Procedure 4001 [Docket No. 405]. NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED by and between the Debtors and TriMont, which agreement, when so-ordered by the Court, shall constitute an order of the Court, as follows: 1. Notwithstanding section 362(e) of the Bankruptcy Code or any other provision of
the Bankruptcy Code or the Federal Rules of Bankruptcy Procedure to the contrary, all notice and hearing obligations shall be deemed satisfied and the automatic stay of section 362 will continue in full force and effect with respect to TriMont, the TriMont Lift Stay Motion, and the relief requested therein until entry and pursuant to the terms of an order of the Court on the TriMont Lift Stay Motion. 2. The hearing on the TriMont Lift Stay Motion shall be continued to a later hearing
date with no less than twenty days notice in accordance with the Notice, Case Management, and Administrative Procedures [Docket No. 56], without further court order.
3.
Each of the undersigned counsel represents that he or she is authorized to execute
this Stipulation and Order on behalf of his or her respective client. 4. This Stipulation and Order may be executed in multiple facsimile or original
counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. 5. The terms and conditions of this Stipulation and Order shall be immediately
effective and enforceable upon its entry. 6. The Court retains jurisdiction to hear and determine all matters arising from or
related to the implementation, interpretation, and/or enforcement of this Stipulation and Order.
Dated: September 16, 2010 New York, New York
/s/ Todd C. Meyers KILPATRICK STOCKTON LLP Todd C. Meyers, Esq. Rex R. Veal, Esq. Mark A. Fink, Esq. 1100 Peachtree Street, Suite 2800 Atlanta, Georgia 30309 Telephone: (404) 815-6500 Facsimile: (404) 541-6555 and Michael D. Crisp, Esq. Jonathan E. Polonsky, Esq. 31 West 52nd Street, 14th Floor New York, New York 10019 Telephone: (212) 775-8703 Facsimile: (212) 775- 8819 Counsel to TriMont Real Estate Advisors, Inc.
/s/ Paul M. Basta James H.M. Sprayregen, P.C. Paul M. Basta Jennifer L. Marines KIRKLAND & ELLIS LLP 601 Lexington Avenue New York, New York 10022-4611 Telephone: (212) 446-4800 Facsimile: (212) 446-4900 and Anup Sathy, P.C. (admitted pro hac vice) Marc J. Carmel (admitted pro hac vice) KIRKLAND & ELLIS LLP 300 North LaSalle Street Chicago, Illinois 60654-3406 Telephone: (312) 862-2000 Facsimile: (312) 862-2200 Counsel to the Debtors and Debtors in Possession
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SO ORDERED this 21st day of September, 2010 ____/s/ Shelley C. Chapman___________ The Honorable Shelley C. Chapman United States Bankruptcy Judge
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UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK In re: INNKEEPERS USA TRUST, et al.,1 Debtors.

) ) ) ) ) ) ) Chapter 11 Case No. 10-13800 (SCC) Jointly Administered

Each of the undersigned counsel represents that he or she is authorized to execute

Dated: September 16, 2010 New York, New York

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