Objection Deadline: April 5, 2011 at 4:00 PM

Brad Eric Scheler, Esq. Bonnie Steingart, Esq. FRIED, FRANK, HARRIS, SHRIVER & JACOBSON LLP One New York Plaza New York, New York 10004 Telephone: (212) 859-8000 Facsimile: (212) 859-4000 Attorneys for the Independent Committee 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

MONTHLY APPLICATION OF FRIED, FRANK, HARRIS, SHRIVER & JACOBSON LLP FOR COMPENSATION FOR SERVICES AND REIMBURSEMENT OF EXPENSES AS ATTORNEYS FOR THE INDEPENDENT COMMITTEE FOR THE PERIOD FROM JANUARY 1, 2011 THROUGH JANUARY 31, 2011

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.

SUMMARY Name of Applicant: Fried, Frank, Harris, Shriver & Jacobson LLP (Fried Frank) Independent Committee Order entered on November 10, 2010 retaining Fried, Frank, Harris, Shriver & Jacobson LLP, nunc pro tunc to September 10, 2010 January 1, 2011 through January 31, 2011 $234,653.50

Authorized to Provide Professional Services to: Date of Retention:

Period for which compensation and reimbursement is sought: Amount of Compensation sought as actual and necessary: Amount of Expense Reimbursement sought as actual and necessary:

$3,207.92

This is Fried Franks fourth monthly application for compensation (the Application) filed pursuant to the Order Authorizing the Establishment of Procedures for Interim Compensation and Reimbursement of Expenses for Professionals and Official Committee Members [Docket No. 189] (the Interim Compensation Order). Fried Frank requests: (a) payment of compensation in the amount of $187,722.80 (80% of $234,653.50 of fees) on account of actual and necessary professional services rendered to the Independent Committee by Fried Frank; and (b) reimbursement of actual and necessary costs and expenses in the amount of $3,207.92 (representing 100% of expenses) incurred by Fried Frank during the period January 1, 2011 through January 31, 2011 (the Fee Period). Contemporaneous time records are attached as Exhibit A. The Fried Frank attorneys and paraprofessionals who rendered services in abovecaptioned chapter 11 cases (the Chapter 11 Cases) during the Fee Period are:
Attorney Brad Eric Scheler Bonnie Steingart Alan Resnick Matthew Roose Jon Finelli Gabriel Libhart Natalie C. Spano Leo Roymisher Meryl Yang Totals Position with the Applicant Partner Partner Of Counsel Associate Associate Associate Litigation Support Litigation Support Paraprofessional Year Admitted 1981 1986 1989 2006 2007 2010 Department Restructuring Restructuring Restructuring Restructuring Restructuring Restructuring E-Discovery E-Discovery Restructuring Hourly Billing Rate $1,100.00 $970.00 $1,000.00 $580.00 $550.00 $460.00 $265.00 $265.00 $200.00 Total Billed Hours 32.00 94.80 4.50 62.80 22.90 112.60 .50 6.00 2.30 338.40 Total Compensation $35,200.00 $91,956.00 $4,500.00 $36,424.00 $12,595.00 $51,796.00 $132.50 $1,590.00 $460.00 $234,653.50

Total of Fees Sought in the Application

$234,653.50

Expense Summary Category Data Research Messenger Service and Postage Telephone, Teleconferencing Duplicating Meals Travel, Airfare, and Other Transportation Secretarial Total Total of Expenses Sought in the Application Amount $1,018.69 $107.79 $280.30 $1,246.10 $31.77 $357.76 $165.51 $3,207.92 $3,207.92

Compensation by Matter
Matter Number 2 3 4 5 6 7 8 Totals Matter Description Communications with Independent Committee Board Meetings Hearings and Court Issues Plan Process Communications with Creditors and Interest Holders Retention and Fee Application Issues Litigation Relating to Plan Process Total Billed Hours 27.20 18.40 16.10 98.80 14.70 23.60 139.60 338.40 Total Fees Requested $25,773.00 $13,448.00 $10,710.00 $80,178.00 $14,532.00 $11,830.00 $78,182.50 $234,653.50

Total Fees for All Matters Total Expenses Total Fees and Expenses Sought in the Application

$234,653.50 $3,207.92 $237,861.42

Notice

Fried Frank has provided notice of this Application to: (a) the Debtors; (b) the Office of the United States Trustee for the Southern District of New York; (c) counsel to the Official Committee of Unsecured Creditors; (d) counsel to Midland Loan Services, Inc.; and (e) counsel to Certain Prepetition Lenders (each as defined in the Interim Compensation Order). In light of the nature of the relief requested, Fried Frank respectfully submits that no further notice is necessary.

WHEREFORE, pursuant to the Interim Compensation Order, Fried Frank requests: (a) payment of compensation in the amount of $187,722.80 (80% of $234,653.50 of fees) on account of actual and necessary professional services rendered to the Independent Committee by Fried Frank; and (b) reimbursement of actual and necessary costs and expenses in the amount of $3,207.92.

New York, New York Dated: March 15, 2011

/s/ Bonnie Steingart Brad Eric Scheler, Esq. Bonnie Steingart, Esq. FRIED, FRANK, HARRIS, SHRIVER & JACOBSON LLP One New York Plaza New York, New York 10004 Telephone: (212) 859-8000 Facsimile: (212) 859-4000

EXHIBIT A

8027813

Invoice No: 148265

Tax ID No. 13-5344867

Fried, Frank, Harris, Shriver & Jacobson LLP

One New York Plaza New York, New York 10004-1980 Tel: +1.212.859.8000 Fax: +1.212.859.4000 www. friedfrank.com

March 15, 2011

Innkeepers USA Trust 340 Royal Poinciana Way Suite 306 Palm Beach, Florida 33480 Attn: Marc Beilinson

For Professional Services Rendered

For the period from January 1, 2011 to January 31, 20 11 Fees ...... ....... .... .... ... ................ ......... ....... ... .... ..... ...... ..... .... ....... ... .... . Ancillary Services .............. .. ... ............ ........... ............... ....... .......... . Total ................................................................................................ . $ 234,653 .50 $ 3,207.92

$237,861.42

For Convenience you may wire your payrnen15 tn: Otibank, NA., 666 Fifth Avenue, New York NY 10103 N3A No. 021000089 Account No. 02095111 New York. Washington DC London Paris Frankfurt Hong Kong Shanghai Fried. Frank, Harris, Shriver & Jacobson LLP is a Delaware Lim ited Liability Partnership

8028311

Fried, Frank, Harris, Shriver & Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00002 Communications with Independent Committee

Page2

Time Detail
Date Timekeeper Description Hours Amount

01/03/11 01/04/11 01/05/11 01/05/11 01/06/11 01/06/11 01/07/11 01/08/11 01/09/11 01/10/11 01/11/11 01/12/11 01/13/11 01/14/11 01/14/11 01/17/11 01/21/11 01/22/11 01/26/11 01/28/11

Bonnie Steingart Bonnie Steingart Bonnie Steingart Matthew Roose Brad E. Scheler Bonnie Steingart Bonnie Steingart Bonnie Steingart Bonnie Steingart Bonnie Steingart Bonnie Steingart Bonnie Steingart Brad E. Scheler Brad E. Scheler Bonnie Steingart Bonnie Steingart Matthew Roose Matthew Roose Matthew Roose Matthew Roose

Multiple em ails and telephone calls with Independent Committee re: bid procedures motion. T/c with Ruisi re: bid procedures motion/process. T/c with Ruisi re: update. T/c with K&E re: board meeting (.2); emails with Ruisi re: same (.2). Multiple tics and emails with Independent Committee re: update and bid procedures motion. Multiple tics and emails with Independent Committee re: update and bid procedures motion. Multiple tic and emails with IC to review issues re: documents and updates. Review bid procedures motion (.7); multiple tics and emails with Ruisi re: same and update (1.5). Update IC on deal changes and documents. Review termination events (1.1 ); multiple calls and emails with Ruisi re: same (.8). Update to IC re: commitment agreements and term sheets re: open issues. Review and revise bid procedures motion (1.5); tic and emails to IC re: same (.8); related follow up (1.2). Multiple communications w/IC re: final documents and updates. Tics and emails to IC re: open issues and update (1.4); related follow up (.6). T/c and email w/clients re: update. T/c w/Ruisi - various issues. T/c with Ruisi re: discovery. T/c with Kleisner and Zuroff re: discovery. Email with IC re: process letter (.2); review same (.7); emails with Scheler re: same (.1). Emails with IC re: preliminary objections (.3); review same (1.1). Total:

1.10 0.50 0.70 0.40 1.50 1.20 1.40 2.20 1.90 1.90 2.70 3.50 2.00 2.00 0.70 0.50 0.20 0.40 1.00 1.40 27.20

1,067.00 485.00 679.00 232.00 1,650.00 1,164.00 1,358.00 2,134.00 1,843.00 1,843.00 2,619.00 3,395.00 2,200.00 2,200.00 679.00 485.00 116.00 232.00 580.00 812.00 25,773.00

Fried, Frank, Harris, Shriver &Jacobson LLP Client: 033322 Independent Comm of Bd ofTrustees of Innkeepers USA Trust Matter: 00003 Board Meetings

Page3

Time Detail
Date Timekeeper Description Hours Amount

01/21/11 01/23/11 01/24/11 01/24/11 01/24/11

Bonnie Steingart Bonnie Steingart Brad E. Scheler Alan Resnick Matthew Roose

Review draft minutes. Review minutes (1.5}; emails re: same (.4}. Meeting with team re: board meetings (.5); review materials (.5}; related follow up (.5}. Meeting w/ team re: board minutes. Meeting with team re: board meetings (.5}; draft meeting minutes (.4}; emails re: same (.2); o/c with Hanson re: same (.1). Research re: IC meetings. Finalize meeting notes (.7}; email team re: same (.1}. Review correspondence re: bid procedures motion litigation (.3}; t/c with Independent Committee (.7). T/c w/ Independent Committee. Emails with IC re: summary of preliminary objections and discovery issues (.3}; IC call (.7); review materials re: same (1.3}. Independent Committee update call. Review notes from IC calls for minutes, o/c w/ M. Roose re: same. Review and revise draft IC meeting minutes. Finalize drafts of minutes for Independent Committee meetings. Review meeting notes. Review draft minutes. Attention to issues re: board meeting minutes. Review draft board minutes (.9}; multiple emails re: same (.2}. Total:

0.50 1.90 1.50 0.50 1.20

485.00 1,843.00 1,650.00 500.00 696.00

01/25/11 01/26/11 01/27/11 01/27/11 01/27/11

Matthew Roose Matthew Roose Brad E. Scheler Bonnie Steingart Matthew Roose

0.10 0.80 1.00 0.70 2.30

58.00 464.00 1,100.00 679.00 1,334.00

01/27/11 01/27/11 01/28/11 01/28/11 01/30/11 01/31/11 01/31/11 01/31/11

Gabriel Libhart Gabriel Libhart Matthew Roose Gabriel Libhart Gabriel Libhart Bonnie Steingart Matthew Roose Matthew Roose

0.70 0.70 1.10 1.00 0.70 1.10 1.50 1.10 18.40

322.00 322.00 638.00 460.00 322.00 1,067.00 870.00 638.00 13,448.00

Fried, Frank, Harris, Shriver & Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00004 Hearings and Court Issues

Page4

Time Detail
Date 01/13/11 01/18/11 01/18/11 01/19/11 01/19/11 01/19/11 01/19/11 01/19/11 01/19/11 01/19/11 01/19/11 01/21/11 01/26/11 01/26/11 Timekeeper Matthew Roose Bonnie Steingart Matthew Roose Brad E. Scheler Bonnie Steingart Bonnie Steingart Matthew Roose Matthew Roose Gabriel Libhart Gabriel Libhart Gabriel Libhart Gabriel Libhart Gabriel Libhart Gabriel Libhart Description Review exclusivity extension (.3); review emails re: same (.2). Review correspondence w/ court and Debtors (.3); related follow-up (.8) Review letter to chambers requesting status conference. Review correspondence re: status conference (.3); calls re: same (.7). Attend status conference (1.5); ole wl Libhart and Roose re: same (1 ). Review materials for status conference. Attention to issues re: status conference (.3); follow-up with Steingart re: status conference (.2). Review and revise summary of status conferences (.3); emails with clients re: same (.2). Review recent filings and email correspondence (.6); prepare for status conference (2.9). Attend status conference with Judge Chapman. Draft summary of status conference (1. 7); email re: same (.1). Attention to case calendar. Attend Innkeepers hearing (.8); prepare summary re: same (.2). Emails/calls re: Innkeepers hearing. Total: Hours 0.50 1.10 0.30 1.00 2.50 1.20 0.50 0.50 3.50 1.50 1.80 0.20 1.00 0.50 16.10 Amount 290.00 1,067.00 174.00 1,100.00 2,425.00 1,164.00 290.00 290.00 1,610.00 690.00 828.00 92.00 460.00 230.00 10,710.00

Fried, Frank, Harris, Shriver & Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00005 Plan Process

Page 5

Time Detail
Date Timekeeper Description Hours Amount

01/03/11 01/03/11 01/04/11 01/04/11 01/04/11 01/04/11 01/04/11

Bonnie Steingart Matthew Roose Brad E. Scheler Bonnie Steingart Bonnie Steingart Bonnie Steingart Matthew Roose

Review and revise bid procedures motion. Review revised bid procedures motion. Review motion (.9); calls w/ Steingart re: update (.9); related follow-up (.2). Review and revise bid procedures motion. T/cs with Scheler re: bid procedures motion. Emails re: bid procedures motion (1.1); related follow-up (.6).

2.30 0.50 2.00 1.30 0.90 1.70 4.20

2,231.00 290.00 2,200.00 1,261.00 873.00 1,649.00 2,436.00

01/05/11 01/05/11 01/05/11

Brad E. Scheler Bonnie Steingart Matthew Roose

01/06/11 01/06/11 01/06/11 01/07/11 01/07/11 01/08/11

Bonnie Steingart Bonnie Steingart Matthew Roose Bonnie Steingart Matthew Roose Brad E. Scheler

01/08/11

Alan Resnick

01/08/11 01/09/11

Matthew Roose Brad E. Scheler

Tic with Anup re: update (.2); o/c with Scheler re: same (.2); emails to IC and K&E re: same (.4); review revised pleading (.8); o/c with Steingart re: same (.4); o/c with Scheler re: same (.5); review and revise same (1.1); emails with K&E, Moelis and Board re: same (.2); tic with Lennon re: same (.4). Review bid procedures motion (1.0); emails and tics with Roose and Steingart re: same (1.0). Review and revise bid procedures motion (1.8); tic with Roose re: same (.4). T/c with Sathy re: modifications to motion (.6); emails and calls with Scheler and Steingart re: modifications (.5); tic with Scheler re: same (.2). Review and revise bid procedures motion. Calls and emails w/ K&E re: bid procedures motion (1.5); related follow-up (.8). Review further revised bid procedures motion. Review issues re: deal and revised papers. Tic with Lennon re: update. Review and revise bid procedures motion, commitment agreements and bid procedures (1.2); multiple tics and emails re: same and update (1.8). Review revised motion for approval of Five Mile/Lehman commitments, bid procedures, and related documents (.7); review a draft of the New Party/Midland Commitment (.2). Review bid procedures motion (.8); emails with team re: same (.3). Review and comment on bid procedures motion (1.1 ); review term sheets (.8); tic with Ruisi, Roose, Steingart re: same (.4); related follow up (.7).

2.00 2.20 1.30

2,200.00 2,134.00 754.00

1.90 2.30 0.50 2.30 0.20 3.00

1,843.00 2,231.00 290.00 2,231.00 116.00 3,300.00

0.90

900.00

1.10 3.00

638.00 3,300.00

Fried, Frank, Harris, Shriver &Jacobson LLP Client: 033322 Independent Comm of Bd ofTrustees of Innkeepers USA Trust Matter: 00005 Plan Process

Page 6

Date

Timekeeper

Description

Hours

Amount

01/09/11 01/09/11 01/09/11 01/09/11

Bonnie Steingart Bonnie Steingart Bonnie Steingart Alan Resnick

Review and revise bid procedures motions (.8); multiple tics and emails re: same (.6). Review and revise bid procedures motions (.8); multiple tic and email re: same (1.6). Multiple tics and emails re: bid procedures motion. Review correspondence and submit! comments re: draft of motion to approve bid procedures and Five Mile/Lehman as stalking horse bidder. Review pleadings, declaration, commitment letters (1.6); review and revise pleading (.5); tic with Scheler, Ruisi and Steingart re: same (.4); multiple emails with Kirkland re: same (.4); tic with Lennon re: pleading (.3). Review bid procedures motion and related emails (1.3); emails and tic with team re: same (.7). Review issues regarding bid procedures motion, Lehman cash out, and Midland financing. Review revisions to deal documents (2.4); ole with Roose re: same (.8). Review various issues related to bid procedures motion (1.9); multiple o/cs with Roose re: same (.4).
Ole with Steingart re: motion; commitment letter and supporting papers (.8); review termination events in documents (.9); emails to K&E re: same (.1); ole with Steingart re: same (.4).

-2.40 2.40 0.80 0.40

-2,328.00 2,328.00 776.00 400.00

01/09/11

Matthew Roose

3.20

1,856.00

01/10/11 01/10/11 01/10/11 01/10/11 01/10/11

Brad E. Scheler Bonnie Steingart Bonnie Steingart Bonnie Steingart Matthew Roose

2.00 2.10 3.20 2.30 2.20

2,200.00 2,037.00 3,104.00 2,231.00 1,276.00

01/11/11 01/11/11 01/12/11 01/12/11

Bonnie Steingart Bonnie Steingart Bonnie Steingart Alan Resnick

Review and revise bid procedures motion. Review Nov. 2010 Board Reporting Package. Review revised term sheets. Review revised motion to approve Five Mile/Lehman stalking horse bid, bid procedures, and for other relief, and reviewed related documents. Tic w/Bonnie Steingart and Matt Roose re: revised draft motion to approve Five Mile/Lehman stalking horse bid, bid procedures and for other relief. Tic w/Brad Scheler, Bonnie Steingart, and Matt Roose re: revised draft motion to approve Five Mile/Lehman stalking horse bid, bid procedures and for other relief. Review revised bid procedures motion (.5); review revised commitment letter (.5); review Five Mile-Lehman Agreement (.4); review Five Mile-Midland Agreement (.5); review related documents re: Five Mile bid (.8); ole with Steingart re: same (.4); tic with Resnick re: same (.4); call with Steingart and Ruisi re: same (.3); tic with Steingart and Anup re: same (.3); comments to motion (.8). Review Moelis presentations. Review debtor/special servicer commitments.

2.90 1.20 2.80 0.50

2,813.00 1,164.00 2,716.00 500.00

01/12/11

Alan Resnick

0.30

300.00

01/12/11

Alan Resnick

0.70

700.00

01/12/11

Matthew Roose

4.90

2,842.00

01/12/11 01/12/11

Gabriel Libhart Gabriel Libhart

1.50 0.50

690.00 230.00

Fried, Frank, Harris, Shriver &Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00005 Plan Process

Page 7

Date

Timekeeper

Description

Hours

Amount

01/13/11 01/13/11 01/13/11 01/13/11 01/14/11 01/14/11 01/14/11 01/14/11 01/14/11

Brad E. Scheler Bonnie Steingart Bonnie Steingart Gabriel Libhart Bonnie Steingart Bonnie Steingart Bonnie Steingart Bonnie Steingart Alan Resnick

T/c with Steingart re: bid procedures motion (.7); related follow up (.3). Review motion to extend exclusivity (.8); calls re: same (.2); emails re: same (.2). Review revised documents (1.1); tic w/ Scheler (.7); related follow-up (.8). Draft chart comparing term sheet provisions. T/c and emails re: update and open issues. Review revisions to bid procedures motion (1.2); multiple tics and emails re: same (1.7). Review revisions to Derrough declaration. T/cs and emails w/ Debtors re final issues. Review revisions to the bidding procedures, motion to approve bidding procedures and other relief, Lehman Commitment Letter, Derrough declaration, and Agreement Relating to Midland Commitment. Review revised stalking horse papers (.8); tic with Steingart re: same (.2); emails with Scheler re: open issues (.2); emails with IC re: open issues (.3); multiple tic and emails with K&E re: finalizing documents (.6). Draft chart comparing term sheet provisions. Emails re: final documents. Emails and calls re: open issues. Review final documents. Review chart of termination events (.3); o/c with Lib hart re: same (.1). Draft chart comparing term sheet provisions (4.1); o/c w/ Roose re: same (.1). Emails w/ M. Roose re: recent filings. Total:

1.00 1.20 2.60 8.50 1.40 2.90 1.10 1.50 0.40

1,100.00 1'164.00 2,522.00 3,910.00 1,358.00 2,813.00 1,067.00 1,455.00 400.00

01/14/11

Matthew Roose

2.10

1,218.00

01/14/11 01/15/11 01/16/11 01/17/11 01/18/11 01/18/11 01/23/11

Gabriel Libhart Matthew Roose Brad E. Scheler Bonnie Steingart Matthew Roose Gabriel Libhart Gabriel Libhart

3.40 0.40 1.00 1.30 0.40 4.20 0.30 98.80

1,564.00 232.00 1,100.00 1,261.00 232.00 1,932.00 138.00 80,178.00

Fried, Frank, Harris, Shriver & Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00006 Communications with Creditors and Interest Holders

Page 8

Time Detail
Date Timekeeper Description Hours Amount

01/07/11 01/07/11 01/11/11

Brad E. Scheler Bonnie Steingart Brad E. Scheler

T/cs with counsel to 5 Mile, Lehman and Midland (1.3); related follow-up (.7). T/cs with counsel to 5 Mile, Lehman and Midland (1.3); relatd follow-up (.6). T/c with Gottesman (.5); tic w/ Steingart re: same (.4); related follow up (.1 ); review and comment on bid procedures motion (1.0). T/c w/ Scheler re: LNR (.4); o/c w/ Roose re: same (.3); tic w/ LNR (.5); related follow-up (.5). T/c with Gottesman re: update. Review creditor communications (.7); related follow up (.3). Correspondence re: Ad Hoc Committee. Review LNR letter. Review correspondence from Gottesman. Draft letter to Gottesman re: communication (.6); emails with Scheler re: same (.2). Review Gottesman correspondence (.2); call w/ Steingart (.5); emails re: same (.3). T/c w/ Scheler re: Gottesman ltr (.6); review letter (.4); emails re: same (.2). Total:

2.00 1.90 2.00

2,200.00 1,843.00 2,200.00

01/11/11 01/11/11 01/12/11 01/12/11 01/12/11 01/17/11 01/17/11 01/18/11 01/18/11

Bonnie Steingart Matthew Roose Brad E. Scheler Bonnie Steingart Bonnie Steingart Bonnie Steingart Matthew Roose Brad E. Scheler Bonnie Steingart

1.70 0.50 1.00 1.10 0.80 0.70 0.80 1.00 1.20 14.70

1,649.00 290.00 1,100.00 1,067.00 776.00 679.00 464.00 1'100.00 1,164.00 14,532.00

Fried, Frank, Harris, Shriver &Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00007 Retention and Fee Application Issues

Page 9

Time Detail
Date 01/04/11 01/05/11 01/06/11 01/07/11 01/07/11 01/08/11 01/09/11 01/11/11 01/12/11 01/14/11 01/14/11 01/18/11 01/18/11 01/26/11 01/28/11 Timekeeper Gabriel Libhart Gabriel Libhart Gabriel Libhart Matthew Roose Gabriel Ubhart Alan Resnick Gabriel Ubhart Gabriel Ubhart Gabriel Ubhart Matthew Roose Meryl Yang Matthew Roose Meryl Yang Meryl Yang Bonnie Steingart Description Draft/revise Interim Fee Application; multiple calls and o/cs with M. Roose re: same. Draft/revise Interim Fee Application. Draft/revise Interim Fee Application. Review and revise FFHSJ fee application. Draft/revise Interim Fee Application. Review and revise interim fee application. Draft/revise Interim Fee Application. Review US Trustee and Local Guidelines re: expenses in interim fee application. Call with Marc Carmel re: interim fee application objection deadline. Finalize and file interim fee application. Prep first interim fee application for service and filing. T/c with US Trustee re: Interim Fee Applications (.1); follow-up with Carmel and Steingart re: same (.2). File affidavit of service for first interim fee application. File December monthly fee application. Review issues re: US Trustee objections. Total: Hours 7.00 0.50 1.00 2.80 4.30 0.80 0.60 1.40 0.10 1.30 1.50 0.30 0.30 0.50 1.20 23.60 Amount 3,220.00 230.00 460.00 1,624.00 1,978.00 800.00 276.00 644.00 46.00 754.00 300.00 174.00 60.00 100.00 1'164.00 11,830.00

Fried, Frank, Harris, Shriver &Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00008 Litigation Relating to Plan Process

Page 10

Time Detail
Date Timekeeper Description Hours Amount

01/19/11 01/19/11 01/20/11 01/20/11 01/20/11 01/20/11 01/21/11 01/21/11 01/21/11 01/21/11 01/21/11

Gabriel Libhart Gabriel Libhart Brad E. Scheler Bonnie Steingart Matthew Roose Gabriel Libhart Brad E. Scheler Bonnie Steingart Bonnie Steingart Bonnie Steingart Matthew Roose

Prepare chronological chart re: discovery. Attention to issues re: status conference/document production/next steps. Review email correspondence re: upcoming litigation and discovery issues (.6); related follow-up (.4). Follow-up from status conference (1.1 ); attention to discovery issues (1.2).

3.60 0.20 1.00 2.30 1.50 6.80 1.00 1.20 0.50 0.90 1.60

1,656.00 92.00 1,100.00 2,231.00 870.00 3,128.00 1,100.00 1'164.00 485.00 873.00 928.00

Ole with Libhart re: discovery chronology (.4); review and revise same (1.1). Prepare deposition chronological chart (6.4); ole with Roose re: same (.4).
Tic with Steingart re: discovery issues (.4); review related correspondence (.6). Review issues re: document requests (1.0); ole with Roose and Libhart re: same (.2). Tic w/Debtors re: discovery. Tic w/ Scheler re: discovery issues (.4); review related issues (.5). Attention to issues re: discovery (1.1 ); tic with Steingart and Anup re: same (.3); ole with Steingart and Libhart re: same (.2). Ole with Roose and Steingart re depositions/process (.2); related follow up (.2). Prepare deposition chronological chart. Review documents requests (1.2); tics re: same (.4); related follow-up (.1 ). Review discovery requests (.8); tic with K&E re: discovery (.4); emails re: same (.1). Draft doc prod request comparison chart. Call with Kirkland re: document production requests. Review and revise chronology. Attention to issues re: discovery (1.3); review and revise chronology (.6). Attention to document production requests. Ole with M. Roose re: production/depositions. Revise chronological chart. Review correspondence (.3); attention to issues re: discovery/deposition (.7). Attention to issues re: discovery.

01/21/11 01/21/11 01/22/11 01/22/11 01/22/11 01/22/11 01/23/11 01/24/11 01/24/11 01/24/11 01/24/11 01/25/11 01/25/11

Gabriel Libhart Gabriel Libhart Bonnie Steingart Matthew Roose Gabriel Libhart Gabriel Libhart Matthew Roose Matthew Roose Gabriel Libhart Gabriel Libhart Gabriel Libhart Brad E. Scheler Matthew Roose

0.40 9.90 1.70 1.30 2.10 0.40 3.50 1.90 1.50 0.50 5.30 1.00 0.60

184.00 4,554.00 1,649.00 754.00 966.00 184.00 2,030.00 1,102.00 690.00 230.00 2,438.00 1,100.00 348.00

Fried, Frank, Harris, Shriver & Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00008 Litigation Relating to Plan Process

Page 11

Date

Timekeeper

Description

Hours

Amount

01/25/11 01/25/11 01/26/11 01/26/11 01/26/11 01/26/11 01/26/11 01/27/11 01/27/11 01/27/11 01/27/11 01/27/11 01/27/11 01/28/11 01/28/11 01/28/11 01/28/11 01/28/11 01/28/11 01/28/11 01/28/11 01/28/11 01/29/11 01/29/11 01/29/11 01/29/11 01/29/11 01/30/11 01/30/11 01/30/11

Gabriel Libhart Natalie C. Spano Bonnie Steingart Bonnie Steingart Bonnie Steingart Gabriel Libhart Gabriel Libhart Bonnie Steingart Bonnie Steingart Matthew Roose Gabriel Libhart Gabriel Libhart Leo Roymisher Bonnie Steingart Bonnie Steingart Bonnie Steingart Matthew Roose Jon Finelli Jon Finelli Gabriel Libhart Gabriel Libhart Gabriel Libhart Matthew Roose Jon Finelli Jon Finelli Jon Finelli Gabriel Libhart Matthew Roose Matthew Roose Jon Finelli

Revise deposition chronological chart/outline. Coordinated with client and associates on data collection. Review preliminary objections. Review memo re: standing of Appaloosa and LNR. Review issues re: discovery. Review Appaloosa and LNR standing filings. Attention to issues re: document collection. Attention to issues re: document requests and discovery. Attention to discovery issues. Attention to issues re: discovery and document collection. Review process letter, 1109(b) motions, preliminary objections (1.5); summary email to team re: same (1.5). Review deposition notice from Ad Hoc Committee, emails and calls re: document production. Processing PST file for Bernard Zuroff through Law and updating to Concordance

4.80 0.50 2.60 0.70 0.40 1.30 4.50 1.50 0.30 1.10 3.00 0.90 3.00 0.60 0.90 1.90 1.30 0.50 3.00 0.20 5.20 0.10 1.10 1.30 2.50 3.00 6.20 1.50 3.50 3.00

2,208.00 132.50 2,522.00 679.00 388.00 598.00 2,070.00 1,455.00 291.00 638.00 1,380.00 414.00 795.00 582.00 873.00 1,843.00 754.00 275.00 1,650.00 92.00 2,392.00 46.00 638.00 715.00 1,375.00 1,650.00 2,852.00 870.00 2,030.00 1,650.00

Tic with K&E re: various issues re: discovery. Review issues re: discovery and deposition notices. Review documents. Calls and emails re: stalking horse discovery (1.1); related follow-up (.2). 0/cs with M. Roose and G. Libhart re: motion to approve bidding procedures. Review motion to approve bidding procedures, commitment letter, term sheet, and related filings. Email re: summary of Deposition Notices. Document review. Call with Kirkland re: document production/depositions. Review and revise issue list for discovery. Review preliminary objections from 6 parties. Draft summary chart summarizing preliminary list of objections to Bid Procedures motion. Continue drafting summary chart of preliminary objections. Document review. Review and revise issue list for discovery. Draft responses and objection to document requests. Review and revise summary chart of preliminary objections and continue drafting re: same. Emails with M. Roose and G. Libhart.

Fried, Frank, Harris, Shriver & Jacobson LLP Client: 033322 Independent Comm of Bd of Trustees of Innkeepers USA Trust Matter: 00008 Litigation Relating to Plan Process

Page 12

Date

Timekeeper

Description

Hours

Amount

01/30/11 01/30/11 01/31/11 01/31/11

Jon Finelli Gabriel Libhart Bonnie Steingart Matthew Roose

Complete drafting summary chart of objections; research re: same and email re: same. Document review. Review issues re: doc. reqs. Review and revise document notice responses (1.1 ); review and revise preliminary objection chart (1.5); tic with Finelli re: same (.2). Review documents for production. Review deposition notices and discovery requests and review responses to discovery requests re: same; related follow up with M. Roose re: same. Review and revise preliminary objections chart (3.1 ); follow up with M. Roose (.2) and emails to Board re: same (.2). Research re: preliminary objections. Document review (4.7); multiple calls and emails re: same (.4). Document review (4.3), multiple calls and emails re: same (.9). Processing PST files received from Forensic collection Total:

2.80 0.50 1.20 2.80

1,540.00 230.00 1,164.00 1,624.00

01/31/11 01/31/11

Matthew Roose Jon Finelli

1.10 2.80

638.00 1,540.00

01/31/11

Jon Finelli

3.50

1,925.00

01/31/11 01/31/11 01/31/11 01/31/11

Jon Finelli Gabriel Libhart Gabriel Libhart Leo Roymisher

0.50 5.10 5.20 3.00 139.60

275.00 2,346.00 2,392.00 795.00 78,182.50