Minimum Borrower Net Worth. The Borrower will not permit the Borrower Net Worth at the last day of any fiscal quarter to be less than $250,000,000.

Minimum Tangible Net Worth. Permit Consolidated Tangible Net Worth at any time to be less than the sum of # $3,401,765,000 plus # an amount equal to 75% of the Net Cash Proceeds received by [[Apple Hospitality REIT:Organization]] from issuances and sales of Equity Interests of [[Apple Hospitality REIT:Organization]] occurring after March 31, 2022 (other than any such Net Cash Proceeds received in connection with any customary dividend reinvestment program).

Minimum Borrower Net Worth. The Borrower will not permit Borrower Net Worth at the last day of any fiscal quarter of the Borrower to be less than $1,000,000,000.

Minimum Borrower Net Worth. The Borrower will not permit Borrower Net Worth at the last day of any fiscal quarter of the Borrower to be less than $350,000,000.

Minimum Net Worth. The Borrower will not permit Net Worth as of the last day of any fiscal quarter of the Borrower to be less than the sum of # an amount equal to the product of # 70% and (y) (i) $2,836,292,783 minus # the lesser of # the aggregate amount of Restricted Payments made by the Borrower from and after the Effective Date and prior to June 30, 2021 and # $400,000,000, plus # an amount equal to 50% of the Borrower’s Consolidated net income (if positive) for such fiscal quarter and for each prior fiscal quarter of the Borrower ending after the Effective Date plus # an amount equal to 50% of the aggregate Net Equity Proceeds of any Equity Issuances made after the Effective Date.

Minimum Tangible Net Worth. Tangible Net Worth as of the last day of each month, shall not be less than the Tangible Net Worth Requirement. As used herein:

Minimum Borrower Net Worth. The Borrower will not permit Borrower Net Worth at the last day of any fiscal quarter of the Borrower to be less than $350,000,000.

Minimum Borrower Net Worth. The Borrower will not permit Borrower Net Worth at the last day of any fiscal quarter of the Borrower to be less than $350,000,000.

Minimum Borrower Net Worth. The Borrower will not permit Borrower Net Worth at the last day of any fiscal quarter of the Borrower to be less than $350,000,000.

Minimum Tangible Net Worth. Permit Consolidated Tangible Net Worth at any time to be less than the sum of # $3,249,276,000 plus # an amount equal to 75% of the Net Cash Proceeds received by the Borrower from issuances and sales of Equity Interests of the Borrower occurring after the last day of the fiscal quarter most recently ended prior to the Closing Date for which Borrower’s financial statements are publicly available (other than any such Net Cash Proceeds received in connection with any customary dividend reinvestment program).