UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 15, 2015

 

 

 

INNSUITES HOSPITALITY TRUST

(Exact Name of Registrant as Specified in Charter)

 

Ohio   001-07062   34-6647590
(State or Other Jurisdiction
of Incorporation) 		  (Commission
File Number) 		  (IRS Employer
Identification No.)

 

InnSuites Hotels Centre, 1625
E. Northern Avenue, 		   
Suite 105, Phoenix, AZ   85020
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s telephone number, including area code (602) 944-1500

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 

 

Item 1.01 Entry Into a Material Definitive Agreement.

 

On June 15, 2015, the Line of Credit between InnSuites Hospitality Trust (the “Trust”), and its subsidiaries, Yuma Hospitality Properties Limited Partnership (“Yuma”), and RRF Limited Partnership (“RRF”) (“collectively known as the “Borrowers”) was extended from June 23, 2015 to July 23, 2015. All terms and conditions together with all renewals, extensions and modifications were not materially changed.

 

The foregoing description is not intended to be complete and is qualified in its entirety by reference to the full text of the Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is 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 above under Item 1.01 is hereby incorporated by reference into this Item 2.03.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

10.1  

Change in Terms Agreement, dated June 15, 2015, executed by the InnSuites Hospitality Trust, Yuma Hospitality Properties Limited Partnership and RRF Limited Partnership, as borrower, in favor of RepublicBankAZ, N.A. as Lender.

     
99.1  

June 19, 2015 Trust Press Release regarding IHT Credit Line extended.

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  InnSuites Hospitality Trust
   
  By: /s/ Adam B. Remis
    Adam B. Remis
  Chief Financial Officer
Date: June 19, 2015    

 

 
 

 

EXHIBIT INDEX

 

Exhibit No.   Description
     
10.1  

Change in Terms Agreement, dated June 15, 2015, executed by the InnSuites Hospitality Trust, Yuma Hospitality Properties Limited Partnership and RRF Limited Partnership, as borrower, in favor of RepublicBankAZ, N.A. as Lender.

     
99.1   June 19, 2015 Trust Press Release regarding IHT Credit Line extended.

 

 
 

 

 

Exhibit 10.1

 

 
 

 

 
 

 

 

NEWS BULLETIN RE: INNSUITES HOSPITALITY TRUST
FROM   INNSUITES HOTEL CENTRE
INNSUITES HOSPITALITY TRUST   1625 E. NORTHERN AVENUE, # 105
NYSE MKT:IHT   Phoenix, Arizona 85020
FISCAL 2016   Phone: 602-944-1500
IBC CARES PROGRAM LAUNCHED AND IHT CREDIT LINE EXTENDED

 

FOR FURTHER INFORMATION:

Marc Berg, Executive Vice President

602-944-1500

email: mberg@innsuites.com

 

 

Phoenix, AZ, June 19, 2015 - InnSuites Hospitality Trust (NYSE MKT:IHT)

 

IBC CARES PROGRAM LAUNCHED AND IHT CREDIT LINE EXTENDED

 

IBC Hotels, a collection of over 20,000 independently owned and operated hotels across 170 countries has partnered with EC Suites, an E-Commerce solutions provider for over ten years, to launch IBC Cares which will contribute a percentage of each hotel booking to selected non-profits. St. Mary’s Food Bank Alliance, Pencils of Promise and Charity Water have been chosen for the program due to their outstanding support of the local and global communities each affects.

 

St. Mary’s Food Bank Alliance was chosen due to the contributions of their organization in the Southwest Region of the U.S. where IBC Hotels is headquartered; while contributions will be split between each, Pencils of Promise and Charity Water were selected due to the global reach and support non-profits provide.

 

“The impact that St. Mary’s Food Bank has had on Arizona and the world make it a perfect contender for a continued partnership in the coming years,” said Pamela Barnhill, President and Founder of IBC Hotels. “The ongoing support of their communities, respect for their mission and social integrity are the blue prints for a successful non-profit such as Pencils of Promise and Charity Water.”

 

On June 23, 2015, the Trust received an extension of its $600,000 credit line facility with RepublicBankAZ through July 23, 2015.

 

With the exception of historical information, the matters discussed in this news release may include “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance due to numerous risks and uncertainties and are described in greater detail in our filings with the Securities and Exchange Commission. Although we believe our current expectations to be based upon reasonable assumptions, we can give no assurance that our expectations will be attained.

 

For more information visit www.innsuitestrust.com or www.sec.gov