tion of Management Agreement, dated as of May 27, 2016, made by and among Life Hotel Operator LLC, Seller and Manager (such agreement, as assigned, the "Management Agreement"). A true and complete copy of the Management Agreement has been made available to Purchaser. The Management Agreement is in full force and effect.

ngs. See "—Registration Rights Agreement.- Management Agreement In connection with the 2007 Merger. we entered into a management agreement with KKR (the "Management Agreement") pursuant to which KKR provides advisory services to us and receives fees and reimbursements of related out-of-pocket expenses. The Management Agre