ASHFORD HOSPITALITY TRUST INC - FORM 10-K - EX-10.30.06 - March 1, 2010

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EX-21.1 - EX-21.1 - ASHFORD HOSPITALITY TRUST INCd71251exv21w1.htm
10-K - FORM 10-K - ASHFORD HOSPITALITY TRUST INCd71251e10vk.htm
EX-32.1 - EX-32.1 - ASHFORD HOSPITALITY TRUST INCd71251exv32w1.htm
EX-31.2 - EX-31.2 - ASHFORD HOSPITALITY TRUST INCd71251exv31w2.htm
EX-23.1 - EX-23.1 - ASHFORD HOSPITALITY TRUST INCd71251exv23w1.htm
EX-31.1 - EX-31.1 - ASHFORD HOSPITALITY TRUST INCd71251exv31w1.htm
EX-32.2 - EX-32.2 - ASHFORD HOSPITALITY TRUST INCd71251exv32w2.htm
Exhibit 10.30.06
(CALYON LOGO)
October 21, 2009
CONFIRMATION
     
To:
  Ashford Hospitality LP (“Counterparty”)
 
  14180 Dallas Parkway, Suite 1100
 
  Dallas, Texas 75254
 
  Attn: Swap Documentation
 
  Tel: 972-778-9202                       Fax: 972-778-9261
 
    
Fr:
  Calyon New York Branch (“CALNY”)
 
  1301 Avenue Of The Americas, 16th Floor
 
  New York, NY 10019
 
  Attn: Swaps Department
 
  Tel: 212-261-7415/7136                       Fax:917-849-5517
 
    
Re:
  Flooridor Transaction dated as of October 13, 2009 (CALNY refs: 3087806NY and 3087801NY)
 
The purpose of this letter agreement (this “Confirmation”) is to confirm the terms and conditions of the transactions (the “Transaction”) entered into between us on the Trade Date as specified here below. This Confirmation constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below.
The definitions and provisions contained in the 2000 ISDA Definitions as published by the International Swaps and Derivatives Association, Inc. (“ISDA”) are incorporated into this Confirmation. In the event of any inconsistency between those definitions and provisions and this Confirmation, this Confirmation will govern.
1. This communication supplements, forms a part of, and is subject to, the ISDA Master Agreement dated June 25, 2008 between Counterparty and Calyon (the “Agreement”) as amended and supplemented from time to time, between the Counterparty and Calyon.
2. The terms of the first Transaction (Floor Sold, CALNY ref: 3087806NY) to which this Confirmation relates are as follows:
     
Type of Transaction:
  Floor Sold Transaction
 
    
Notional Amount:
  USD 2,700,000,000.00
 
    
Trade Date:
  October 13, 2009
 
    
Effective Date:
  October 1, 2009
 
    
Termination Date:
  December 31, 2009, subject to adjustment in accordance with the modified following business day convention.
Ref:__TBA                     Marketing:                     

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Fixed Amounts:
     
Fixed Rate Payer:
  Counterparty
 
    
Fixed Amount:
  USD 6,873,000.00
 
    
Fixed Rate Payer Payment Dates:
  October 15, 2009
Floating Amounts :
     
Floating Rate Payer:
   CALNY
 
    
Floating Rate Day Count Fraction:
   Actual/360
 
    
Floating Rate Payment Dates:
   Monthly on the 1st day of each month, commencing on
 
   November 1, 2009 and ending on the Termination
 
   Date, subject to adjustment in accordance with the
 
   Modified Following Business Day Convention.
 
    
Calculation Period:
   For the purposes of this Transaction, the final
 
   Calculation Period for the party will end on, and
 
   include, the Termination Date.
 
    
Floor Rate:
   2.00%
 
    
Reset Date:
   September 13th, October 13th, November 13th
 
    
Floating Rate Option:
   USD-LIBOR-BBA
 
    
Designated Maturity:
   One (1) Month
 
    
Spread:
   None
 
    
Compounding:
   Inapplicable
 
    
Business Days:
   London and New York
 
    
Calculation Agent:
   CALNY
3. The terms of the second Transaction (Floor Purchased, CALNY ref: 3087801 NY) to which this Confirmation relates are as follows:
     
Type of Transaction:
   Floor Purchased Transaction
 
    
Notional Amount:
   USD 2,700,000,000.00
 
    
Trade Date:
   October 13, 2009
 
    
Effective Date:
   October 1, 2009
Ref:___TBA                     Marketing:                     

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Termination Date:
   December 31, 2009, subject to adjustment in
 
   accordance with the modified following business
 
   day convention.
Fixed Amounts:
     
Fixed Rate Payer:
   CALNY
 
    
Fixed Amount:
   None
Floating Amounts :
     
Floating Rate Payer:
   COUNTERPARTY
 
    
Floating Rate Day Count Fraction:
   Actual/360
 
    
Floating Rate Payment Dates:
   Monthly on the 1st day of each month, commencing on
 
   November 1, 2009 and ending on the Termination
 
   Date, subject to adjustment in accordance with the
 
   Modified Following Business Day Convention.
 
    
Calculation Period:
   For the purposes of this Transaction, the final
 
   Calculation Period for the party will end on, and
 
   include, the Termination Date.
 
    
Floor Rate:
   1.00%
 
    
Reset Date:
   September 13th, October 13th, November 13th
 
    
Floating Rate Option:
   USD-LIBOR-BBA
 
    
Designated Maturity:
   One (1) Month
 
    
Spread:
   None
 
    
Compounding:
   Inapplicable
 
    
Business Days:
   London and New York
 
    
Calculation Agent:
   CALNY
 
    
4. Account Details:
    
 
    
Payment of USD to CALNY:
   CALYON NEW YORK
 
   A/C Calyon New York Branch
 
   A/C 01-88180-3211-00-00-1-180
 
    
Payment to Counterparty:
   JP MORGAN CHASE BANK, DALLAS
 
   ABA: 113000609
 
   Favor of: Ashford Hospitality Trust
 
   Account: 08806397111
Ref: TBA                     Marketing:                                         

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5. Offices and Address for Notice: in connection with this Swap Transaction:
  (a)   CALNY: its branch office is in New York at 1301 Avenue of the Americas, New York, New York 10019 USA
 
  (b)   Counterparty: its office is in Dallas, Texas.
6. THE COUNTERPARTY IS HEREBY REQUESTED TO SIGNIFY ITS ACCEPTANCE OF THE TERMS OF THIS CONFIRMATION PROMPTLY BY SIGNING A COPY HEREOF AND RETURNING IT TO CALYON NEW YORK BRANCH IN THE MANNER PROVIDED IN SECTION 12 OF THE AGREEMENT.
UNLESS CALYON NEW YORK BRANCH SHALL HAVE RECEIVED WRITTEN OBJECTION TO THE TERMS OF THIS CONFIRMATION WITHIN FIVE BUSINESS DAYS (DEFINED BELOW) OF THE DATE FIRST ABOVE WRITTEN, THE COUNTERPARTY SHALL BE DEEMED TO HAVE ACCEPTED SUCH TERMS WITHOUT ANY FURTHER ACT ON THE PART OF CALYON NEW YORK BRANCH, THE COUNTERPARTY, OR ANY OTHER PERSON. FOR PURPOSES HEREOF, “BUSINESS DAY” SHALL HAVE THE MEANING SET FORTH IN SECTION 5-701 B.3. (B) OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK.
Each party agrees to make payments to the other party in accordance with the provisions set forth or incorporated by reference in this Confirmation.
IN WITNESS WHEREOF the parties have executed this Confirmation as of the date first above written.
                 
CALYON NEW YORK BRANCH       ASHFORD HOSPITALITY LP    
 
                
Authorized Signature:       Authorized Signature:    
 
                
/s/ Margaret Tam
                
             
Name Margaret Tam
      Name:        
 
               
Title: Senior Associate
      Title:        
 
               
 
                
/s/ Ivy De Jesus
                
 
                
Name: Ivy De Jesus
                
Title: Vice President
                
Ref:___TBA                     Marketing:                     

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