-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DRXeEb6ijC8T/AFEUt4jZGn1tyHHpii7pHQI3dqgTA59hAgrJzq+IJLtSr7siqXY WdnUhxP+MmrxnpwdxiTWnw== 0001299933-05-006814.txt : 20051223 0001299933-05-006814.hdr.sgml : 20051223 20051223100836 ACCESSION NUMBER: 0001299933-05-006814 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20051222 ITEM INFORMATION: Other Events FILED AS OF DATE: 20051223 DATE AS OF CHANGE: 20051223 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LODGIAN INC CENTRAL INDEX KEY: 0001066138 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] IRS NUMBER: 522093696 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14537 FILM NUMBER: 051284199 BUSINESS ADDRESS: STREET 1: 3445 PEACHTREE ROAD N E SUITE 700 CITY: ATLANTA STATE: GA ZIP: 30326 BUSINESS PHONE: 4043649400 MAIL ADDRESS: STREET 1: 3445 PEACHTREE ROAD N E SUITE 700 CITY: ATLANTA STATE: GA ZIP: 30326 8-K 1 htm_9173.htm LIVE FILING Lodgian, Inc. (Form: 8-K)  

 

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):   December 22, 2005

Lodgian, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

     
Delaware 001-14537 52-2093696
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
3445 Peachtree Road, NE, Suite 700, Atlanta, Georgia   30326
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   404-364-9400

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 8.01 Other Events.

On December 22, 2005, a subsidiary of Lodgian, Inc. (the "Subsidiary Company") entered into a loan agreement (the "Loan Agreement") with Wachovia Bank, National Association ("Wachovia"). Pursuant to the Loan Agreement, Wachovia loaned the Subsidiary Company $10 million, which is secured by all of the Subsidiary Company’s assets. The Subsidiary Company owns a Holiday Inn hotel located in Phoenix, Arizona (the "Phoenix Hotel"). The Loan Agreement has a five year term and bears a fixed rate of interest of 6.03%.

Prior to entering into the Loan Agreement with Wachovia, the Phoenix Hotel served as part of the collateral, along with seven other hotels, under a loan agreement with Column Financial, Inc. dated January 31, 1995 (the "Column Financial Loan Agreement"). The Column Financial Loan Agreement bears a fixed rate of interest of 10.59%. $2.0 million of the Wachovia loan proceeds was used to pay down existing indebtedness under the Column Financial Loan Agreement. As of December 22, 2005, t he principal balance of the Column Financial Loan Agreement is $10.4 million and is now secured by seven of our hotels.

The Wachovia Loan Agreement is non-recourse to Lodgian, Inc., except in certain limited circumstances as set forth in the Loan Agreement.





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.

         
    Lodgian, Inc.
          
December 23, 2005   By:   Daniel E. Ellis
       
        Name: Daniel E. Ellis
        Title: Senior Vice President, General Counsel & Secretary
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