Company: DRH-PA
Filing Date: 2025-07-23
Form Type: 8-K
Source: 0001104659-25-069789
Chunk: 2

Company: DiamondRock Hospitality Co
Filing Date: 2025-07-23
Form: 8-K
Item: Item 1.01
Chunk 2
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ovenants is as follows:

                                                        Covenant                            
  Maximum leverage ratio                                60%                                 
  Minimum fixed charge coverage ratio                   1.50x                               
  Secured Indebtedness                                  Less than 45% of Total Asset Value  
  Unencumbered Leverage Ratio                           60%                                 
  Unencumbered Implied Debt Service Coverage Ratio      1.20x                               

The Credit
Facility contains customary representations, financial and other affirmative and negative covenants, events of default and remedies for
this type of facility. Any failure to comply with the financial and operating covenants of the Credit Facility would constitute a default,
which could result in, among other things, the amounts outstanding, including all accrued interest and unpaid fees, becoming immediately
due and payable.

The $300.0 million upsizing of the Credit Facility fully funds the
repayment of the Company’s three mortgage loans that matured or will mature in 2025. The mortgage loans secured by the Worthington
Renaissance Fort Worth Hotel and the Hotel Clio, which together had a principal balance totaling approximately $125.0 million, were repaid
on their respective maturity dates in May 2025 and July 2025 prior to the closing of the Credit Facility. The Company intends to prepay
the $166.6 million mortgage loan secured by the Westin Boston Seaport District in September 2025. Following this repayment, the Company
will have no debt maturities until January 2028 and its portfolio will be fully unencumbered by secured debt.

The foregoing description of the Credit Facility is qualified in its
entirety by the full terms and conditions of the Credit Facility which is filed as Exhibit 10.1 to this Current Report and incorporated
herein by reference.

Item 2.03 Creation Of A Direct Financial Obligation Or An Obligation
Under An Off-Balance Sheet Arrangement Of A Registrant.

The information set forth under Item 1.01 of this Current Report hereby
incorporated by reference into this Item 2.03.

Item 7.01 Regulation FD Disclosure.