Brief: Ashford Prime amends advisory agreement to lower termination fee

Ashford

24/01/2017 21:07

Jan 24 (Reuters) - Ashford Hospitality Prime Inc  AHP.N  
    * Ashford prime announces amendment to advisory agreement 
    * Ashford hospitality prime inc - entered into an amended 
and restated advisory agreement with ashford inc 
    * Ashford hospitality prime inc - lowers termination fee in 
advisory agreement 
    * Ashford hospitality prime - amended agreement includes 
removal of tax gross-up provision and 1.1 times multiple from 
calculation of termination fee 
    * Ashford hospitality prime - advisor's right under existing 
advisory agreement to appoint a "designated chief executive 
officer" has been eliminated 
    * Ashford hospitality - amended agreement includes $45 
million would be owed to ashford inc if amended agreement 
terminated prior to incremental growth in hotel portfolio 
 
Source text for Eikon:  ID:nPn85VzRTa  
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