Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
SPPR > SEC Filings for SPPR > Form 8-K on 28-Mar-2013All Recent SEC Filings

Show all filings for SUPERTEL HOSPITALITY INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for SUPERTEL HOSPITALITY INC


28-Mar-2013

Entry into a Material Definitive Agreement, Financial Statements and Exh


Item 1.01. Entry into a Material Definitive Agreement.

On March 26, 2013, Supertel Hospitality, Inc. (the "Company") entered into a Seventh Amendment to Amended and Restated Loan Agreement (the "Amendment") with Great Western Bank (the "Lender") to amend various terms of the Amended and Restated Loan Agreement dated December 3, 2008 by and between the Company and the Lender (as amended, the "Agreement").

The Amendment, among other things:

extends the maturity date of the revolving credit facility under the Agreement from June 30, 2013 to June 30, 2014, and decreases the interest rate on the facility from 5.95% to 4.95% per annum effective as of March 31, 2013;

extends the maturity date of the term loans under the Agreement from June 30, 2013 to June 30, 2015, and decreases the interest rate on the loans from 6.00% to 5.00% per annum effective as of March 31, 2013;

requires a prepayment fee of 2.00% of the principal amount of the revolving credit facility or term loans prepaid prior to three months before the applicable maturity date in connection with a refinancing with another financial institution; and

requires a $75,000 modification fee, payable in quarterly installments.

The Amended and Restated Loan Agreement dated December 3, 2008 was previously filed with, and is described in, the Company's Current Report on Form 8-K dated December 3, 2008. The first, second and third amendments thereto are described in the Company's Annual Reports on Form 10-K for the years ended December 31, 2008, December 31, 2009 and December 31, 2010, respectively, and were filed with the Company's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2009, March 31, 2010 and March 31, 2011, respectively. The fourth, fifth and sixth amendments thereto were previously filed with, and are described in, the Company's Current Reports on Form 8-K dated December 9, 2011, February 21, 2012 and January 17, 2013, respectively. This description of the Amendment is qualified in its entirety by reference to the Amendment attached to this report as Exhibit 10.1 and incorporated herein by reference.



Item 9.01. Financial Statements and Exhibits.

(c) Exhibits.

10.1  Seventh Amendment to Amended and Restated Loan
      Agreement dated March 26, 2013 by and between Supertel
      Hospitality, Inc. and Great Western Bank.


  Add SPPR to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for SPPR - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.