iht20150303_8k.htm

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):  February 26, 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 2.03

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

On February 26, 2015, InnSuites Hospitality Trust (“IHT”) through one of its subsidiaries, Tucson Saint Mary’s Suite Hospitality, LLC (“Borrower”) obtained a Loan Extension on its first trustee mortgage to April 28, 2015. All other terms of the agreement remain the same. Management anticipates refinancing this note with Hanmi Bank (“Lender”) prior to April 28, 2015.

 

The foregoing description is not intended to be complete and is qualified in its entirety by reference to the full text of the Change in Terms Agreement and Acknowledgement by Guarantor, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

 

Item 9.01

Financial Statements and Exhibits.

 

(d)

Exhibits.

 

10.1

Change in Terms Agreement and Acknowledgement by Guarantor, dated February 26, 2015 executed by the Borrower and Lender.

 

99.1

March 3, 2015 IHT Press Release

 

 
 
 

 

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:  March 3, 2015

 

 
 
 

 

EXHIBIT INDEX

 

Exhibit No.

Description

  

  

10.1

Change in Terms Agreement, dated February 26, 2015, executed by Tucson Saint Mary’s Suite Hospitality LLC, as Borrower and Hanmi Bank, as Lender.

   

99.1

March 3, 2015 IHT Press Release