ex_182988.htm


 


Exhibit 10.1


FOURTEENTH AMENDMENT


TO AMENDED AND RESTATED


AGREEMENT OF LIMITED PARTNERSHIP OF


HOSPITALITY INVESTORS TRUST OPERATING PARTNERSHIP, L.P.


 


This FOURTEENTH AMENDMENT TO AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF HOSPITALITY INVESTORS TRUST OPERATING PARTNERSHIP, L.P. (the “Company”) is made as of March 31, 2020 (this “Amendment”), by HOSPITALITY INVESTORS TRUST, INC., a Maryland corporation, as general partner (the “General Partner”). Capitalized terms used but not otherwise defined in this Amendment shall have the meanings given to such terms in the Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of March 31, 2017 (as amended by the First Amendment thereto, dated as of July 10, 2017, the Second Amendment thereto, dated as of September 29, 2017, the Third Amendment thereto, dated as of December 29, 2017, the Fourth Amendment thereto, dated as of February 27, 2018, the Fifth Amendment thereto, dated as of March 29, 2018, the Sixth Amendment thereto, dated as of July 2, 2018, the Seventh Amendment thereto, dated as of September 28, 2018, the Eighth Amendment thereto, dated as of December 31, 2018, the Ninth Amendment thereto, dated as of February 27, 2019, the Tenth Amendment thereto, dated as of March 29, 2019, the Eleventh Amendment thereto, dated as of July 1, 2019, the Twelfth Amendment thereto, dated as of September 30, 2019, the Thirteenth Amendment thereto, dated as of December 31, 2019, and thereafter from time to time, the “Partnership Agreement”).


 


RECITALS:


 


WHEREAS, pursuant to Section 5.1(d) of the Partnership Agreement the Company issued PIK Distributions to the Initial Preferred LP on March 31, 2020;


 


WHEREAS, the General Partner desires to amend the Partnership Agreement to amend and restate Exhibit A of the Partnership Agreement to accurately reflect at all times the information to be contained thereon; and


 


WHEREAS, pursuant to Sections 4.3(b), 4.5(a) and 14.1(a) of the Partnership Agreement, the General Partner is authorized to take such steps in its sole and absolute discretion.


 


NOW THEREFORE, in consideration of the premises made hereunder, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the General Partner, intending to be legally bound, hereby agrees as follows:


 


Section 1. Amendments.    Exhibit A of the Partnership Agreement is hereby amended and restated in its entirety in the form attached hereto as Exhibit A.


 


Section 2. Miscellaneous. 


 


(a) Governing Law.  This Amendment shall be construed and enforced in accordance with and governed by the laws of the State of Delaware, without regard to the principles of conflicts of laws thereof.


 


(b) Ratification. The Partnership Agreement (as amended by this Amendment) shall continue to be in full force and effect and is hereby in all respects ratified and confirmed.


 


 


 


[SIGNATURE PAGE FOLLOWS]


 


 


IN WITNESS WHEREOF, the undersigned, intending to be legally bound hereby, has duly executed this Amendment as of the date and year first aforesaid.


 


 


 


GENERAL PARTNER:


 


HOSPITALITY INVESTORS TRUST, INC.


 


 


By: /s/ Jonathan P. Mehlman


Name: Jonathan P. Mehlman


Title: Chief Executive Officer and President


 


 


 


 


 


 


 


 


 


 


EXHIBIT A


 


 




Amended and Restated as of March 31, 2020


 


Partners’ Contributions and Partnership Interests


 


 


	
			Name and Address of Partner

				
			Type of Interest

				
			Type of Unit

				
			Capital Contribution (Stated Value with respect to Class C Units)

				
			Number of Partnership Units Issued and Outstanding

				
			Percentage Interest

			
	
			 


			Hospitality Investors Trust, Inc.


			(3950 University Drive, Fairfax, Virginia, 22030)

				
			General Partner Interest

				
			GP Units

				
			$ 200,000

				
			8,888

				
			0.02%

			
	 	
			Limited Partner Interest

				
			OP Units

				
			$822,189,598.77

				
			39,142,312.63

				
			99.98%

			
	
			 


			Brookfield Strategic


			Real Estate


			Partners II Hospitality


			REIT II LLC


			(250 Vesey Street, 15th Floor, New York, NY 10281)

				
			Limited Partner Interest

				
			Class C


			Units -  Purchase Agreement

				
			 


			$379,746,396.50

				
			25,745,518.40

				
			__

			
	 	 	
			Class C


			Units -


			PIK


			Distributions

				
			$37,292,792.551

				
			2,528,324.91

				
			__

			
	
			 


			BSREP II Hospitality II Special GP OP LLC


			(250 Vesey Street, 15th Floor, New York, NY 10281)

				
			Special General

			Partner Interest

				
			None

				
			None

				
			N/A

				
			__

			



 




1 The Stated Value of Class C Units issued as PIK Distributions will be $0 in certain circumstances pursuant to this Agreement.