Company: DRH-PA
Filing Date: 2025-07-23
Form Type: 8-K
Source: 0001104659-25-069789
Chunk: 1

Company: DiamondRock Hospitality Co
Filing Date: 2025-07-23
Form: 8-K
Item: Item 1.01
Chunk 1
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 million term loan that matures on January 3, 2028 (the “ Term 1 Loan”), a $300.0
million term loan that matures on January 21, 2030 (the “ Term 2 Loan”) and a $300.0 million term loan that matures on January
21, 2029 (the “ Term 3 Loan”). The maturity date of the Term 1 Loan and Term 3 Loan may be extended for two additional
six-month periods upon the payment of applicable fees and satisfaction of certain standard conditions.

Interest is paid on the periodic advances on the Revolving Credit Facility
and amounts outstanding on the term loans at varying rates, based upon SOFR, as defined in the Credit Facility, plus an applicable margin. The
applicable margin is unchanged from the Prior Facility and is based upon the Company’s ratio of net indebtedness to EBITDA, as follows:

  Level      Ratio of Net Indebtedness to EBITDA                                 
 ─────────────────────────────────────────────────────────────────────────────────
      1      Less than 30%                                       1.40      1.35  
      2      Greater than or equal to 30% but less than 35%      1.45      1.40  
      3      Greater than or equal to 35% but less than 40%      1.50      1.45  
      4      Greater than or equal to 40% but less than 45%      1.60      1.55  
      5      Greater than or equal to 45% but less than 50%      1.80      1.75  
      6      Greater than or equal to 50% but less than 55%      1.95      1.85  
      7      Greater than or equal to 55%                        2.25      2.20  

In addition to the interest payable on borrowings under the Credit
Facility, the Company is required to pay an amount equal to 0.20% of the unused portion of the Revolving Credit Facility if the average
usage of the Revolving Credit Facility is greater than or equal to 50%, and 0.25% if the average usage of the Revolving Credit Facility
is less than 50%.

The Credit Facility contains various corporate financial covenants,
which are unchanged from the Prior Facility. A summary of the most restrictive c