secwatch.observer — SEC 8-K summary
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Issuer:     Ashford Inc. (—)
CIK:        0001604738
Form:       8-K
Filed at:   2024-03-15T23:59:59+00:00
Accession:  0001604738-24-000010
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ashford Inc. amends advisory agreement with Ashford Trust; reduces net worth covenant to $750M
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- Tangible net worth covenant reduced from $1B to $750M plus 75% of net equity proceeds.
- No additional payments to Advisor from Remington/Premier management amendments until Oaktree facility repaid; then limited to $2M/year for 2 years.
- Portfolio Company Fee payable upon certain loan defaults leading to foreclosure of Ashford Trust hotel properties.
- Termination fee revised to include minimum amount; Change of Control and voting control event criteria revised.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604738/000160473824000010/0001604738-24-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604738/000160473824000010/ainc-20240312.htm
  HTML page:      https://secwatch.observer/filing/0001604738-24-000010

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