Business Context and Reporting Period
Company: Ashford Hospitality Trust Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: June 23, 2008
Event: Entry into a Material Definitive Agreement.
Key Financial Metrics
This filing does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt balances, or liquidity ratios. The document focuses exclusively on the amendment of a credit facility.
Material Changes
On June 23, 2008, Ashford Hospitality Trust, Inc. and its subsidiary, Ashford Hospitality Limited Partnership, entered into the Second Amendment to Credit Agreement and First Amendment to Security Agreement (originally dated April 10, 2007). Key changes include:
- Redefinition of certain terms within the Credit Agreement.
- Modification of collateral release provisions in the Security Agreement.
- Parties involved include Ashford LP (Borrower), Ashford (Parent/Grantor), various Lenders, and Wachovia Bank, National Association (Administrative Agent/Secured Party).
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or specific risk factors beyond the standard disclosure of the agreement amendment. No unusual items or contingencies are detailed in the text provided.
Investor Verification Checklist
- Review the attached Exhibit 10.1 for the specific redefined terms and modified collateral release provisions.
- Verify the impact of the amended credit agreement on the company's leverage ratios and debt covenants.
- Confirm the status of the relationship with Wachovia Bank as the Administrative Agent.