Condor Hospitality Trust, Inc. (NASDAQ:CDOR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.  Entry into a Material Definitive Agreement.



On February 6, 2020, Condor Hospitality Limited Partnership (the “Operating Partnership”), the operating partnership of Condor Hospitality Trust, Inc. (the “Company”), entered into a First Amendment to Term Loan Agreement by and among the Operating Partnership, Spring Street Hotel Property LLC and Spring Street Hotel OpCo LLC, as Borrowers, Condor Hospitality REIT Trust and the Company, as Guarantors, and KeyBank National Association, as Agent (the “First Amendment”). The First Amendment amends the Term Loan Agreement dated as of August 9, 2019 (the “Loan Agreement”), which is described in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2019 and is incorporated herein by reference.



The First Amendment, among other things, provides for the extension of the maturity date under the Loan Agreement to May 8, 2020.



Some of the lenders in the Loan Agreement and / or their affiliates have other business relationships with the Company involving the provision of financial and bank-related services, including cash management and treasury services, and have participated in the Company’s prior debt financings and sales of securities. 



The description of the material terms of the First Amendment is not intended to be complete and is qualified in its entirety by reference to the First Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.



Item 9.01  Financial Statements and Exhibits.

(d)  Exhibits.



CONDOR HOSPITALITY TRUST, INC. Exhibit
EX-10.1 2 cdor-20200206xex10_1.htm EX-10.1 Exhibit 101 Exhibit 10.1 First AMENDMENT TO TERM LOAN AGREEMENT THIS FIRST AMENDMENT TO TERM LOAN AGREEMENT (this “Amendment”),…
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