<SEC-DOCUMENT>0001104659-24-077431.txt : 20240702
<SEC-HEADER>0001104659-24-077431.hdr.sgml : 20240702
<ACCEPTANCE-DATETIME>20240702172650
ACCESSION NUMBER:		0001104659-24-077431
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		19
CONFORMED PERIOD OF REPORT:	20240702
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20240702
DATE AS OF CHANGE:		20240702

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Braemar Hotels & Resorts Inc.
		CENTRAL INDEX KEY:			0001574085
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				462488594
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35972
		FILM NUMBER:		241097178

	BUSINESS ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY
		STREET 2:		SUITE 1100
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254
		BUSINESS PHONE:		(972) 490-9600

	MAIL ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY
		STREET 2:		SUITE 1100
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ashford Hospitality Prime, Inc.
		DATE OF NAME CHANGE:	20130410
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm2418611d1_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<XBRL>
<?xml version='1.0' encoding='ASCII'?>
<html xmlns="http://www.w3.org/1999/xhtml" xmlns:xs="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:dei="http://xbrl.sec.gov/dei/2023" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:us-gaap="http://fasb.org/us-gaap/2023" xmlns:us-roles="http://fasb.org/us-roles/2023" xmlns:country="http://xbrl.sec.gov/country/2023" xmlns:srt="http://fasb.org/srt/2023" xmlns:bhr="http://ahpreit.com/20240702">
<head>
     <title></title>
<meta http-equiv="Content-Type" content="text/html"/>
</head>
<!-- Field: Set; Name: xdx; ID: xdx_02C_US%2DGAAP%2D2023 -->
<!-- Field: Set; Name: xdx; ID: xdx_03F_bhr_ahpreit.com_20240702 -->
<!-- Field: Set; Name: xdx; ID: xdx_044_20240702_20240702 -->
<!-- Field: Set; Name: xdx; ID: xdx_059_edei%2D%2DAmendmentFlag_false -->
<!-- Field: Set; Name: xdx; ID: xdx_05F_edei%2D%2DEntityCentralIndexKey_0001574085 -->
<!-- Field: Set; Name: xdx; ID: xdx_072_SO_T%2D%2D\DeptFiles%2DiXBRL 8%2DK Covers Templates\+++%2DROOT%2DElement%2D+++\DocumentInformationLineItems.xdxs -->
<!-- Field: Set; Name: xdx; ID: xdx_06B_USD_1_iso4217%2D%2DUSD -->
<!-- Field: Set; Name: xdx; ID: xdx_062_Shares_2_xbrli%2D%2Dshares -->
<!-- Field: Set; Name: xdx; ID: xdx_06D_USDPShares_3_iso4217%2D%2DUSD_xbrli%2D%2Dshares -->
<body style="font: 10pt Times New Roman, Times, Serif">
<div style="display: none">
<ix:header>
 <ix:hidden>
  <ix:nonNumeric contextRef="AsOf2024-07-02" id="Fact000003" name="dei:AmendmentFlag">false</ix:nonNumeric>
  <ix:nonNumeric contextRef="AsOf2024-07-02" id="Fact000004" name="dei:EntityCentralIndexKey">0001574085</ix:nonNumeric>
  </ix:hidden>
 <ix:references>
  <link:schemaRef xlink:href="bhr-20240702.xsd" xlink:type="simple"/>
  </ix:references>
 <ix:resources>
    <xbrli:context id="AsOf2024-07-02">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001574085</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-07-02</xbrli:startDate>
        <xbrli:endDate>2024-07-02</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2024-07-022024-07-02_us-gaap_CommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001574085</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-07-02</xbrli:startDate>
        <xbrli:endDate>2024-07-02</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2024-07-022024-07-02_us-gaap_SeriesBPreferredStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001574085</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesBPreferredStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-07-02</xbrli:startDate>
        <xbrli:endDate>2024-07-02</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2024-07-022024-07-02_us-gaap_SeriesDPreferredStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0001574085</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesDPreferredStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-07-02</xbrli:startDate>
        <xbrli:endDate>2024-07-02</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:unit id="USD">
      <xbrli:measure>iso4217:USD</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="Shares">
      <xbrli:measure>xbrli:shares</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="USDPShares">
      <xbrli:divide>
        <xbrli:unitNumerator>
          <xbrli:measure>iso4217:USD</xbrli:measure>
        </xbrli:unitNumerator>
        <xbrli:unitDenominator>
          <xbrli:measure>xbrli:shares</xbrli:measure>
        </xbrli:unitDenominator>
      </xbrli:divide>
    </xbrli:unit>
  </ix:resources>
 </ix:header>
</div>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<!-- Field: Rule-Page --><div style="width: 100%"><div style="border-top: Black 2pt solid; border-bottom: Black 1pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Wingdings; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.85pt; text-align: center"><b>&#160;</b></p>

<p style="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.85pt; text-align: center"><span style="font-size: 10pt"><b>UNITED
STATES<br/>
SECURITIES AND EXCHANGE COMMISSION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Washington, D.C. 20549</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p>

<p style="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-size: 16pt"><b>FORM
<span id="xdx_90C_edei--DocumentType_c20240702__20240702_zH6JBC4LFh7b"><ix:nonNumeric contextRef="AsOf2024-07-02" id="Fact000010" name="dei:DocumentType">8-K</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: -0.05pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>CURRENT REPORT</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: -0.05pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>PURSUANT TO SECTION 13
OR 15(D) <br/>
OF THE SECURITIES EXCHANGE ACT OF 1934</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: -0.05pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: -0.05pt"><b>Date of Report (date
of earliest event reported): <span id="xdx_908_edei--DocumentPeriodEndDate_c20240702__20240702_zkDYHr7eejgf"><ix:nonNumeric contextRef="AsOf2024-07-02" format="ixt:datemonthdayyearen" id="Fact000011" name="dei:DocumentPeriodEndDate">July 2, 2024</ix:nonNumeric></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-size: 18pt"><b><span id="xdx_90B_edei--EntityRegistrantName_c20240702__20240702_zcCL3muELln6"><ix:nonNumeric contextRef="AsOf2024-07-02" id="Fact000012" name="dei:EntityRegistrantName">BRAEMAR
HOTELS &amp; RESORTS INC.</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(Exact name of registrant as specified in its
charter)</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr>
    <td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-size: 10pt; text-align: center; width: 42%"><span style="font-size: 10pt"><span id="xdx_901_edei--EntityIncorporationStateCountryCode_c20240702__20240702_zjSICfHKuBgb"><ix:nonNumeric contextRef="AsOf2024-07-02" format="ixt-sec:stateprovnameen" id="Fact000013" name="dei:EntityIncorporationStateCountryCode">Maryland</ix:nonNumeric></span></span></td>
    <td style="width: 1%">&#160;</td>
    <td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-size: 10pt; text-align: center; width: 16%"><span style="font-size: 10pt"><span id="xdx_902_edei--EntityFileNumber_c20240702__20240702_z5FP7ieEtJXk"><ix:nonNumeric contextRef="AsOf2024-07-02" id="Fact000014" name="dei:EntityFileNumber">001-35972</ix:nonNumeric></span></span></td>
    <td style="width: 1%">&#160;</td>
    <td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-size: 10pt; text-align: center; width: 40%"><span style="font-size: 10pt"><span id="xdx_90B_edei--EntityTaxIdentificationNumber_c20240702__20240702_zPWnNysHM41d"><ix:nonNumeric contextRef="AsOf2024-07-02" id="Fact000015" name="dei:EntityTaxIdentificationNumber">46-2488594</ix:nonNumeric></span></span></td></tr>
  <tr>
    <td style="font-size: 10pt; text-align: center"><span style="font-size: 10pt"><i>(State or other jurisdiction of incorporation or<br/>
    organization)</i></span></td>
    <td><i>&#160;</i></td>
    <td style="font-size: 10pt; text-align: center"><span style="font-size: 10pt"><i>(Commission File<br/>
    Number)</i></span></td>
    <td><i>&#160;</i></td>
    <td style="font-size: 10pt; text-align: center"><span style="font-size: 10pt"><i>(IRS employer identification number)</i></span></td></tr>
</table>

<p style="margin: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr>
    <td style="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom; width: 42%">
    <span id="xdx_902_edei--EntityAddressAddressLine1_c20240702__20240702_zbd0AkPngW18"><ix:nonNumeric contextRef="AsOf2024-07-02" id="Fact000016" name="dei:EntityAddressAddressLine1">14185
    Dallas Parkway</ix:nonNumeric></span> <br/>
<span id="xdx_90E_edei--EntityAddressAddressLine2_c20240702__20240702_zAt1HcDeJQ0d"><ix:nonNumeric contextRef="AsOf2024-07-02" id="Fact000017" name="dei:EntityAddressAddressLine2">Suite 1200</ix:nonNumeric></span>
    <br/>
<span id="xdx_902_edei--EntityAddressCityOrTown_c20240702__20240702_zsct2Bl1GCBf"><ix:nonNumeric contextRef="AsOf2024-07-02" id="Fact000018" name="dei:EntityAddressCityOrTown">Dallas</ix:nonNumeric></span> <br/>
<span id="xdx_907_edei--EntityAddressStateOrProvince_c20240702__20240702_z5brmYXjgEh2"><ix:nonNumeric contextRef="AsOf2024-07-02" format="ixt-sec:stateprovnameen" id="Fact000019" name="dei:EntityAddressStateOrProvince">Texas</ix:nonNumeric></span></td>
    <td style="padding-bottom: 1pt; width: 1%">&#160;</td>
    <td style="padding-bottom: 1pt; width: 16%">&#160;</td>
    <td style="padding-bottom: 1pt; width: 1%">&#160;</td>
    <td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-size: 10pt; text-align: center; width: 40%"><span style="font-size: 10pt"><span id="xdx_909_edei--EntityAddressPostalZipCode_c20240702__20240702_zoxfwYy7frl6"><ix:nonNumeric contextRef="AsOf2024-07-02" id="Fact000020" name="dei:EntityAddressPostalZipCode">75254</ix:nonNumeric></span></span></td></tr>
  <tr>
    <td style="vertical-align: top; font-size: 10pt; text-align: center"><span style="font-size: 10pt"><i>(Address of principal executive
    offices)</i></span></td>
    <td><i>&#160;</i></td>
    <td><i>&#160;</i></td>
    <td><i>&#160;</i></td>
    <td style="vertical-align: top; font-size: 10pt; text-align: center"><span style="font-size: 10pt"><i>(Zip code)</i></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Registrant&#8217;s telephone number, including
area code: (<span id="xdx_900_edei--CityAreaCode_c20240702__20240702_zfjBvv3NNPv3"><ix:nonNumeric contextRef="AsOf2024-07-02" id="Fact000021" name="dei:CityAreaCode">972</ix:nonNumeric></span>) <span id="xdx_903_edei--LocalPhoneNumber_c20240702__20240702_zYfT2TsuI2Z9"><ix:nonNumeric contextRef="AsOf2024-07-02" id="Fact000022" name="dei:LocalPhoneNumber">490-9600</ix:nonNumeric></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Not Applicable</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(Former name or former address, if changed
since last report)</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left"><span style="font-family: Wingdings"><span id="xdx_90F_edei--WrittenCommunications_c20240702__20240702_zeT26kAI8YWg"><ix:nonNumeric contextRef="AsOf2024-07-02" format="ixt:booleanfalse" id="Fact000023" name="dei:WrittenCommunications">&#168;</ix:nonNumeric></span></span></td><td style="text-align: justify">Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left"><span style="font-family: Wingdings"><span style="font-family: Wingdings"><span style="font-family: Wingdings"><span id="xdx_900_edei--SolicitingMaterial_c20240702__20240702_zUfjovtKNV6b"><ix:nonNumeric contextRef="AsOf2024-07-02" format="ixt:booleantrue" id="Fact000024" name="dei:SolicitingMaterial">x</ix:nonNumeric></span></span></span></span></td><td style="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)</td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left"><span style="font-family: Wingdings"><span id="xdx_906_edei--PreCommencementTenderOffer_c20240702__20240702_zs1Odyf0Rlp8"><ix:nonNumeric contextRef="AsOf2024-07-02" format="ixt:booleanfalse" id="Fact000025" name="dei:PreCommencementTenderOffer">&#168;</ix:nonNumeric></span></span></td><td style="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))</td>
</tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left"><span style="font-family: Wingdings"><span id="xdx_901_edei--PreCommencementIssuerTenderOffer_c20240702__20240702_zpjIemvauvDa"><ix:nonNumeric contextRef="AsOf2024-07-02" format="ixt:booleanfalse" id="Fact000026" name="dei:PreCommencementIssuerTenderOffer">&#168;</ix:nonNumeric></span></span></td><td style="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))</td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: justify">Emerging
growth company <span style="font-family: Wingdings"><span id="xdx_90D_edei--EntityEmergingGrowthCompany_c20240702__20240702_zcmnr4oN73r5"><ix:nonNumeric contextRef="AsOf2024-07-02" format="ixt:booleanfalse" id="Fact000027" name="dei:EntityEmergingGrowthCompany">&#168;</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 37.9pt 0pt 0; text-align: justify; text-indent: -10.9pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. <span style="font-family: Wingdings">&#168;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section&#160;12(b) of the
Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; width: 32%; text-align: center"><span style="font-size: 10pt">Title of each class</span></td>
    <td style="width: 2%">&#160;</td>
    <td style="border-bottom: Black 1pt solid; width: 32%; text-align: center"><span style="font-size: 10pt">Trading Symbol(s)</span></td>
    <td style="width: 2%">&#160;</td>
    <td style="border-bottom: Black 1pt solid; width: 32%; text-align: center"><span style="font-size: 10pt">Name of each exchange on which registered</span></td></tr>
<tr>
    <td style="vertical-align: top">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><span id="xdx_900_edei--Security12bTitle_c20240702__20240702__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zzsW4y3nDff4"><ix:nonNumeric contextRef="From2024-07-022024-07-02_us-gaap_CommonStockMember" id="Fact000028" name="dei:Security12bTitle">Common Stock</ix:nonNumeric></span></b></p></td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: center"><span style="font-size: 10pt"><b><span id="xdx_907_edei--TradingSymbol_c20240702__20240702__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_ziGOLgRZB6od"><ix:nonNumeric contextRef="From2024-07-022024-07-02_us-gaap_CommonStockMember" id="Fact000029" name="dei:TradingSymbol">BHR</ix:nonNumeric></span></b></span></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center"><span style="font-size: 10pt"><b><span id="xdx_901_edei--SecurityExchangeName_c20240702__20240702__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zZEXknmeDrvj"><ix:nonNumeric contextRef="From2024-07-022024-07-02_us-gaap_CommonStockMember" format="ixt-sec:exchnameen" id="Fact000030" name="dei:SecurityExchangeName">New York Stock Exchange</ix:nonNumeric></span></b></span></td></tr>
<tr>
    <td style="vertical-align: top; text-align: center"><span style="font-size: 10pt"><b><span id="xdx_901_edei--Security12bTitle_c20240702__20240702__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zgl3J7VbcWN9"><ix:nonNumeric contextRef="From2024-07-022024-07-02_us-gaap_SeriesBPreferredStockMember" id="Fact000031" name="dei:Security12bTitle">Preferred Stock, Series B</ix:nonNumeric></span></b></span></td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: center"><span style="font-size: 10pt"><b><span id="xdx_909_edei--TradingSymbol_c20240702__20240702__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zwTgeeYQTbRk"><ix:nonNumeric contextRef="From2024-07-022024-07-02_us-gaap_SeriesBPreferredStockMember" id="Fact000032" name="dei:TradingSymbol">BHR-PB</ix:nonNumeric></span></b></span></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center"><span style="font-size: 10pt"><b><span id="xdx_901_edei--SecurityExchangeName_c20240702__20240702__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zEYu1mtFOdwe"><ix:nonNumeric contextRef="From2024-07-022024-07-02_us-gaap_SeriesBPreferredStockMember" format="ixt-sec:exchnameen" id="Fact000033" name="dei:SecurityExchangeName">New York Stock Exchange</ix:nonNumeric></span></b></span></td></tr>
<tr>
    <td style="vertical-align: top; text-align: center"><span style="font-size: 10pt"><b><span id="xdx_900_edei--Security12bTitle_c20240702__20240702__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_zDYOyiequZWa"><ix:nonNumeric contextRef="From2024-07-022024-07-02_us-gaap_SeriesDPreferredStockMember" id="Fact000034" name="dei:Security12bTitle">Preferred Stock, Series D</ix:nonNumeric></span></b></span></td>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: center"><span style="font-size: 10pt"><b><span id="xdx_90A_edei--TradingSymbol_c20240702__20240702__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_znQVpk26WQnl"><ix:nonNumeric contextRef="From2024-07-022024-07-02_us-gaap_SeriesDPreferredStockMember" id="Fact000035" name="dei:TradingSymbol">BHR-PD</ix:nonNumeric></span></b></span></td>
    <td>&#160;</td>
    <td style="vertical-align: bottom; text-align: center"><span style="font-size: 10pt"><b><span id="xdx_902_edei--SecurityExchangeName_c20240702__20240702__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_zcYFdPxplMI5"><ix:nonNumeric contextRef="From2024-07-022024-07-02_us-gaap_SeriesDPreferredStockMember" format="ixt-sec:exchnameen" id="Fact000036" name="dei:SecurityExchangeName">New York Stock Exchange</ix:nonNumeric></span></b></span></td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<!-- Field: Rule-Page --><div style="margin-top: 0; margin-bottom: 0; width: 100%"><div style="border-top: Black 1pt solid; border-bottom: Black 2pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>

<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 1 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="padding: 0.25pt; width: 8%; font-size: 10pt; text-align: justify"><b>ITEM 1.01</b></td>
    <td style="padding: 0.25pt; width: 92%; font-size: 10pt; text-align: justify"><b>ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT</b></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July&#160;2, 2024, Braemar Hotels&#160;&amp;
Resorts Inc. (the &#8220;<span style="text-decoration: underline">Company</span>&#8221;), Ashford Hospitality Trust,&#160;Inc. (&#8220;<span style="text-decoration: underline">AHT</span>&#8221;) and Ashford Inc. (&#8220;<span style="text-decoration: underline">AINC</span>&#8221;,
and collectively with the Company, AHT and each of AINC&#8217;s, the Company&#8217;s and AHT&#8217;s respective affiliates (including
Stirling Hotels and Resorts,&#160;Inc.) and any entity advised by AINC, the &#8220;<span style="text-decoration: underline">Company Group</span>&#8221;) entered into a Cooperation
Agreement (the &#8220;<span style="text-decoration: underline">Agreement</span>&#8221;) with Blackwells Capital LLC, Blackwells Onshore I LLC, Blackwells Holding Co. LLC, Vandewater
Capital Holdings, LLC, Blackwells Asset Management LLC, BW Coinvest Management I LLC and Jason Aintabi (collectively, the &#8220;<span style="text-decoration: underline">Blackwells
Parties</span>&#8221;) regarding the withdrawal of the Blackwells Parties&#8217; proxy campaign, dismissal of pending litigation involving
the parties and certain other matters.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Agreement, the Blackwells Parties
have agreed to withdraw (i)&#160;the notice delivered to the Company on March&#160;10, 2024 purporting to nominate four director candidates
to the Company&#8217;s Board of Directors (the &#8220;<span style="text-decoration: underline">Board</span>&#8221;) and make certain other proposals and (ii)&#160;the definitive
proxy statement filed with the U.S. Securities and Exchange Commission (the &#8220;<span style="text-decoration: underline">SEC</span>&#8221;) on April&#160;3, 2024 to solicit
proxies from stockholders of the Company to vote in favor of the Blackwells Parties&#8217; director nominees and proposals. In connection
therewith, the Blackwells Parties will cease to take any further action with respect to the Company&#8217;s 2024 Annual Meeting of Stockholders,
except as otherwise provided for in the Agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Blackwells Parties have also agreed to specified
standstill restrictions with respect to the Company Group, which will expire on July&#160;2, 2034. During the standstill period, the Blackwells
Parties are required to (i)&#160;appear in person or by proxy at each meeting of stockholders of the members of the Company Group in which
they beneficially own shares of stock and vote any Blackwells Parties&#8217; shares then beneficially owned by them in accordance with
the recommendation of the board of directors of such member of the Company Group on any proposals considered at such meeting and (ii)&#160;deliver
consents or consent revocations in any action by written consent by stockholders of any member of the Company Group in which they beneficially
own shares in accordance with the recommendation of the board of directors of such member of the Company Group.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Agreement also provides for the voluntary
dismissal, with prejudice, of the consolidated action pending in the U.S. District Court for the Northern District of Texas to which the
Company, Blackwells Capital LLC and certain of their respective related parties are parties (the &#8220;<span style="text-decoration: underline">Consolidated Litigation</span>&#8221;).
The Company has agreed to reimburse Blackwells Capital LLC, in an amount agreed upon by the parties, for the Blackwells Parties&#8217;
reasonable attorneys&#8217; fees and expenses incurred in connection with the Consolidated Litigation and related matters.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Additionally, pursuant to the Agreement, the Board
will take steps to identify and select one additional individual to be appointed to the Board as an independent director (the &#8220;<span style="text-decoration: underline">Additional
Board Member</span>&#8221;). The Board is required to promptly notify Blackwells Capital LLC of its selection of the Additional Board Member
and to consider any input Blackwells Capital LLC may have with respect to the Additional Board Member.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Agreement contains various other obligations
and provisions applicable to the Company Group and the Blackwells Parties, including a mutual release of claims and mutual non-disparagement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Concurrently and in connection with the
Agreement, certain of the parties thereto have also entered into a Share Ownership Agreement (the &#8220;<span style="text-decoration: underline">Share
Ownership Agreement</span>&#8221;) and a Loan Agreement (the &#8220;<span style="text-decoration: underline">Loan
Agreement</span>&#8221;), pursuant to which agreements the Company will provide to BW Coinvest I, LLC an unsecured loan (the
&#8220;<span style="text-decoration: underline">Loan</span>&#8221;). The proceeds from the Loan will be used to reimburse Borrower
(as defined in the Loan Agreement) for 70% of the amount expended by Borrower to purchase on the open market a total of 3,500,000
shares of the Company&#8217;s common stock (the &#8220;<span style="text-decoration: underline">Purchased Shares</span>&#8221;)
within six months of the date of Loan Agreement, at a price per Purchased Share not to exceed $10 and subject to the other
limitations set forth therein. The Loan has a term of five years (the &#8220;<span style="text-decoration: underline">Term</span>&#8221;),
is guaranteed by Jason Aintabi, Vandewater Capital Holdings, LLC, Blackwells Holding Co. LLC, and Blackwells Asset Management LLC
and shall bear payment-in-kind interest during the Term at a rate equal to the sum of (a)&#160;Term SOFR (as defined in the Loan
Agreement) and (b)&#160;3.00% (three hundred basis points) per annum. The Company has agreed to reimburse Blackwells Capital LLC, in
an amount agreed upon by the parties, for the Blackwells Parties&#8217; reasonable due diligence expenses incurred on or prior to
the date of the Share Ownership Agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing descriptions of the Agreement, the
Share Ownership Agreement and the Loan Agreement are qualified in their entirety by reference to the full texts thereof, copies of which
are filed as <span style="text-decoration: underline">Exhibit&#160;10.1</span>, <span style="text-decoration: underline">Exhibit&#160;10.2</span> and <span style="text-decoration: underline">Exhibit&#160;10.3</span>, respectively, hereto and each of which is
incorporated herein by reference.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="padding: 0.25pt; width: 8%; font-size: 10pt; text-align: justify"><b>ITEM 8.01</b></td>
    <td style="padding: 0.25pt; width: 92%; font-size: 10pt; text-align: justify"><b>OTHER EVENTS.</b></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July&#160;2, 2024, the Company issued a press
release announcing the Agreement, a copy of which is filed as <span style="text-decoration: underline">Exhibit&#160;99.1</span> hereto and incorporated herein by reference.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Forward-Looking Statements</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Certain statements and assumptions in this
communication contain or are based upon &#8220;forward-looking&#8221; information and are being made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this communication include, among others, statements
about the Company&#8217;s strategy and future plans. These forward-looking statements are subject to risks and uncertainties. When we
use the words &#8220;will likely result,&#8221; &#8220;may,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;should,&#8221;
&#8220;expect,&#8221; &#8220;believe,&#8221; &#8220;intend,&#8221; or similar expressions, we intend to identify forward-looking statements.
Such statements are subject to numerous assumptions and uncertainties, many of which are outside Braemar&#8217;s control.</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>These forward-looking statements are subject
to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including,
without limitation: our ability to complete the previously announced shareholder value creation plan on a timely basis, if at all; potential
risks related to actions or proposals from activist stockholders; our ability to repay, refinance or restructure our debt and the debt
of certain of our subsidiaries; anticipated or expected purchases or sales of assets; our projected operating results; completion of any
pending transactions; risks associated with our ability to effectuate our dividend policy, including factors such as operating results
and the economic outlook influencing our board&#8217;s decision whether to pay further dividends at levels previously disclosed or to
use available cash to pay dividends; our understanding of our competition; market trends; projected capital expenditures; the impact of
technology on our operations and business; general volatility of the capital markets and the market price of our common stock and preferred
stock; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry and the markets in
which we operate, interest rates or the general economy; and the degree and nature of our competition. These and other risk factors are
more fully discussed in Braemar&#8217;s filings with the SEC.</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>The forward-looking statements included in
this communication are only made as of the date of this communication. Such forward-looking statements are based on our beliefs, assumptions,
and expectations of our future performance taking into account all information currently known to us. These beliefs, assumptions, and
expectations can change as a result of many potential events or factors, not all of which are known to us. If a change occurs, our business,
financial condition, liquidity, results of operations, plans, and other objectives may vary materially from those expressed in our forward-looking
statements. You should carefully consider this risk when you make an investment decision concerning our securities. Investors should not
place undue reliance on these forward-looking statements. The Company can give no assurance that these forward-looking statements will
be attained or that any deviation will not occur. We are not obligated to publicly update or revise any forward-looking statements, whether
as a result of new information, future events or circumstances, changes in expectations, or otherwise, except to the extent required by
law.</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Additional Information and Where to Find
it</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has filed a Definitive Proxy Statement
on Schedule 14A with the SEC on June&#160;17, 2024 (the &#8220;<span style="text-decoration: underline">Proxy Statement</span>&#8221;) and intends to file other relevant materials
with respect to the Company&#8217;s solicitation of proxies for the annual meeting now scheduled to be held on October&#160;15, 2024 (the
&#8220;<span style="text-decoration: underline">Annual Meeting</span>&#8221;). INVESTORS AND STOCKHOLDERS OF THE COMPANY ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS
OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE CAREFULLY AND IN THEIR ENTIRETY
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. The Proxy Statement and any other documents filed by the Company
with the SEC may be obtained free of charge at the SEC&#8217;s website at www.sec.gov. In addition, investors and security holders may
obtain free copies of the documents filed with the SEC at the Company&#8217;s website, http://www.bhrreit.com, under the &#8220;Investor&#8221;
link, or by requesting them in writing or by telephone from us at 14185 Dallas Parkway, Suite&#160;1200, Dallas, Texas 75254, Attn: Investor
Relations or (972) 490-9600.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 3 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Participants</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company and its directors and executive officers
will be participants in the solicitation of proxies with respect to a solicitation by the Company. Information about those executive officers
and directors of the Company and their ownership of the Company&#8217;s common stock is set forth in the Proxy Statement. Investors and
security holders may obtain additional information regarding direct and indirect interests of the Company and its executive officers and
directors in the matters to be voted upon at the Annual Meeting by reading the Proxy Statement. These documents are or will be available
free of charge at the SEC&#8217;s website at www.sec.gov.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="padding: 0.25pt; width: 8%; font-size: 10pt; text-align: justify"><b>ITEM 9.01</b></td>
    <td style="padding: 0.25pt; width: 92%; font-size: 10pt"><b>FINANCIAL STATEMENTS AND EXHIBITS.</b></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&#160; Exhibits.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; vertical-align: top; width: 10%; text-align: justify"><span style="font-size: 10pt">Exhibit<br/>
    Number</span></td>
    <td style="font-size: 10pt; vertical-align: bottom; width: 1%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; vertical-align: bottom; width: 89%; text-align: justify"><span style="font-size: 10pt">Exhibit</span></td></tr>
  <tr style="font-size: 10pt; vertical-align: top">
    <td style="font-size: 10pt; text-align: justify"><a href="tm2418611d1_ex10-1.htm"><span style="font-size: 10pt">10.1</span></a></td>
    <td style="font-size: 10pt"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font-size: 10pt; text-align: justify"><a href="tm2418611d1_ex10-1.htm"><span style="font-size: 10pt">Cooperation Agreement, dated&#160;&#160;July&#160;2, 2024, by and among
    Braemar Hotels&#160;&amp; Resorts Inc., Ashford Hospitality Trust,&#160;Inc., Ashford Inc., Blackwells Capital LLC, Blackwells Onshore
    I LLC, Blackwells Holding Co. LLC, Vandewater Capital Holdings, LLC, Blackwells Asset Management LLC, BW Coinvest Management I LLC
    and Jason Aintabi.</span></a></td></tr>
  <tr style="font-size: 10pt; vertical-align: top">
    <td style="font-size: 10pt; text-align: justify"><a href="tm2418611d1_ex10-2.htm"><span style="font-size: 10pt">10.2</span></a></td>
    <td style="font-size: 10pt"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font-size: 10pt; text-align: justify"><a href="tm2418611d1_ex10-2.htm"><span style="font-size: 10pt">Share Ownership Agreement, dated July&#160;2, 2024, by and among Braemar
    Hotels&#160;&amp; Resorts Inc., Ashford Hospitality Trust,&#160;Inc., Ashford Inc., Blackwells Capital LLC, Blackwells Onshore I
    LLC, Blackwells Holding Co. LLC, Vandewater Capital Holdings, LLC, Blackwells Asset Management LLC, BW Coinvest Management I LLC
    and Jason Aintabi.</span></a></td></tr>
  <tr style="font-size: 10pt; vertical-align: top">
    <td style="font-size: 10pt; text-align: justify"><a href="tm2418611d1_ex10-3.htm"><span style="font-size: 10pt">10.3</span></a></td>
    <td style="font-size: 10pt"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font-size: 10pt; text-align: justify"><a href="tm2418611d1_ex10-3.htm"><span style="font-size: 10pt">Loan Agreement, dated July&#160;2, 2024, by and between BW Coinvest
    I, LLC, Jason Aintabi, Vandewater Capital Holdings, LLC, Blackwells Holding Co. LLC, Blackwells Asset Management LLC and Braemar
    Hospitality Limited Partnership.</span></a></td></tr>
  <tr style="font-size: 10pt; vertical-align: top">
    <td style="font-size: 10pt; text-align: justify"><a href="tm2418611d1_ex99-1.htm"><span style="font-size: 10pt">99.1</span></a></td>
    <td style="font-size: 10pt"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font-size: 10pt; text-align: justify"><a href="tm2418611d1_ex99-1.htm"><span style="font-size: 10pt">Press Release of the Company, dated July&#160;2, 2024.</span></a></td></tr>
  <tr style="font-size: 10pt; vertical-align: top">
    <td style="font-size: 10pt; text-align: justify"><span style="font-size: 10pt">104</span></td>
    <td style="font-size: 10pt"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font-size: 10pt; text-align: justify"><span style="font-size: 10pt">Cover Page&#160;Interactive Data File (formatted in Inline XBRL and
    contained in Exhibit&#160;101).</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 4 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SIGNATURES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; border-collapse: collapse; width: 100%">
  <tr style="font-size: 10pt; vertical-align: bottom">
    <td style="font-size: 10pt"><span style="font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 10pt">BRAEMAR HOTELS&#160;&amp; RESORTS
    INC.</span></td></tr>
  <tr style="font-size: 10pt; vertical-align: bottom">
    <td style="font-size: 10pt">&#160;</td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif">&#160;</td></tr>
  <tr style="font-size: 10pt; vertical-align: bottom">
    <td style="font-size: 10pt; width: 50%"><span style="font-size: 10pt">Dated: July&#160;2, 2024</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 3%"><span style="font-size: 10pt">By:</span></td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%"><span style="font-size: 10pt">/s/ Alex Rose</span></td></tr>
  <tr style="font-size: 10pt; vertical-align: bottom">
    <td style="font-size: 10pt"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 10pt">Alex Rose</span></td></tr>
  <tr style="font-size: 10pt; vertical-align: bottom">
    <td style="font-size: 10pt"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-size: 10pt">Executive Vice President, General Counsel&#160;&amp;
    Secretary</span></td></tr>
  </table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>

<!-- Field: Page; Sequence: 5; Options: Last -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">&#160;</p>


<!-- Field: Set; Name: xdx; ID: xdx_08B_extensions -->
<!-- eJxFjV0KwjAQhE/QOyx5Fo2pP9BHixaxihQRX0O7SrDNlk38O5K3NLaIy8KyzHwzQgxERitTI8NpUeRwwKattUco8IyMtsTgSNebBMIt8GKcZ2199/7AlAKDgZkOlSqD0FnvxmGVgJyNYjlSE5DzJFaw34roq6dkz6ZC642uQdsK9kwtG/SaX33CQT/JUvPqqo7IzpBNYDyUvfwGJccKdnTXD+KrgzxPRTToJhIZ060NruXTo/2SsKyxCXWup/8bfQAINkqP -->
</body>
</html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2418611d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B><I>Execution Version</I></B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>COOPERATION AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
COOPERATION AGREEMENT (this &ldquo;<U>Agreement</U>&rdquo;), dated as of July&nbsp;2, 2024, is made and entered into by and among Braemar
Hotels&nbsp;&amp; Resorts Inc., a Maryland corporation (&ldquo;<U>Braemar</U>&rdquo;), Ashford Hospitality Trust,&nbsp;Inc., a Maryland
corporation (&ldquo;<U>AHT</U>&rdquo;), Ashford Inc., a Nevada corporation and the advisor to Braemar and AHT (&ldquo;<U>AINC</U>&rdquo;,
and collectively with Braemar, AHT and each of AINC&rsquo;s, Braemar&rsquo;s and AHT&rsquo;s respective Affiliates (as defined below)
(including, for the avoidance of doubt, Stirling Hotels and Resorts,&nbsp;Inc.) and any entity advised currently or in the future by
AINC, the &ldquo;<U>Company Group</U>&rdquo;), Blackwells Capital LLC, a Delaware limited liability company (&ldquo;<U>Blackwells Capital</U>&rdquo;),
Blackwells Onshore I LLC, a Delaware limited liability company (&ldquo;<U>Blackwells Onshore</U>&rdquo;), </FONT>Blackwells Holding Co.
LLC, a Delaware limited liability company (&ldquo;<U>Blackwells Holdings</U>&rdquo;), Vandewater Capital Holdings, LLC, a Delaware limited
liability company (&ldquo;<U>Vandewater</U>&rdquo;), Blackwells Asset Management LLC, a Delaware limited liability company (&ldquo;<U>Blackwells
Asset Management</U>&rdquo;), BW Coinvest Management I LLC, a Delaware limited liability company (&ldquo;<U>BW Coinvest</U>&rdquo;),
and Jason Aintabi (collectively, with Blackwells Capital, Blackwells Onshore, Blackwells Holdings, Vandewater, Blackwells Asset Management,
and BW Coinvest, the &ldquo;<U>Blackwells Parties</U>&rdquo; and, each of the members of the Company Group and the Blackwells Parties
a &ldquo;<U>Party</U>&rdquo; to this Agreement and collectively, the &ldquo;<U>Parties</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, certain of the Blackwells
Parties (i)&nbsp;submitted a notice to Braemar on March&nbsp;10, 2024 purporting to nominate four director candidates to be elected to
the board of directors of Braemar and make certain other proposals (the &ldquo;<U>Nomination Notice</U>&rdquo;) at Braemar&rsquo;s 2024
Annual Meeting of Stockholders (including any adjournment or postponement thereof, the &ldquo;<U>Braemar 2024 Annual Meeting</U>&rdquo;)
and (ii)&nbsp;filed with the Securities and Exchange Commission (&ldquo;<U>Commission</U>&rdquo; or &ldquo;<U>SEC</U>&rdquo;) on April&nbsp;3,
2024 a definitive proxy statement on Schedule 14A (the &ldquo;<U>Blackwells Braemar Proxy Statement</U>&rdquo;) to solicit proxies from
stockholders of Braemar to vote in favor of the Blackwells Parties&rsquo; director nominees and such proposals;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">WHEREAS,
Braemar and Blackwells Capital and certain of their respective related parties are parties in a consolidated action pending in the U.S.
District Court for the Northern District of Texas captioned </FONT><I>Braemar Hotels&nbsp;&amp; Resorts Inc. v. Blackwells Capital LLC,
Blackwells Onshore I, LLC, Blackwells Holding Co. LLC, Vandewater Capital Holdings, LLC, Blackwells Asset Management LLC, BW Coinvest
Management I LLC, Jason Aintabi, Michael Cricenti, Jennifer M. Hill, Betsy L. McCoy, and Steven J. Pully v. Braemar Hotels&nbsp;&amp;
Resorts Inc., Montgomery J. Bennett, Stefani Danielle Carter, Richard J. Stockton, Kenneth H. Fearn,&nbsp;Jr., Abteen Vaziri, Mary Candace
Evans, Matthew D. Rinaldi, and Rebeca Odino-Johnson</I>, Civil Action No.&nbsp;3:24-CV-707-L (Consolidated with 3:24-CV-894-L) (N.D.
Tex.) (the &ldquo;<U>Consolidated Litigation</U>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, (i)&nbsp;the Blackwell
Parties wish to withdraw the Nomination Notice and the Blackwells Braemar Proxy Statement and (ii)&nbsp;the Parties wish to settle the
Consolidated Litigation and enter into the agreements set forth in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing premises and the mutual covenants and agreements contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Withdrawal
of Nomination Notice and Blackwells Braemar Proxy Statement; Websites; Voting Agreements; Board Matters</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><I>Withdrawal
of Nomination Notice and Blackwells Braemar Proxy Statement</I>. The Blackwells Parties, on behalf of themselves and their Affiliates
and Associates (as such terms are defined in Rule&nbsp;12b-2 promulgated by the Commission under the Securities Exchange Act of 1934,
as amended (the &ldquo;<U>Exchange Act</U>&rdquo;)), hereby (i)&nbsp;irrevocably withdraw, with this Agreement constituting sufficient
and conclusive evidence of such withdrawal, the Nomination Notice and the Blackwells Braemar Proxy Statement, as well as the director
nominations and the proposals set forth therein, and any related materials or notices submitted to Braemar in connection therewith or
related thereto with respect to the Braemar 2024 Annual Meeting (collectively, the &ldquo;<U>Blackwells Nominations and Proposals</U>&rdquo;),
and (ii)&nbsp;agree to abstain from taking any further action to pursue the Blackwells Nominations and Proposals or other action related
to the Braemar 2024 Annual Meeting (other than in accordance with this Agreement). Each Blackwells Party hereby (w)&nbsp;further agrees
that it will, and that it will cause its Affiliates and its and their respective Representatives acting on their behalf to, (i)&nbsp;immediately
cease any and all solicitation efforts in connection with the Braemar 2024 Annual Meeting, (ii)&nbsp;promptly following entry into this
Agreement (and in any event within two (2)&nbsp;business days thereafter), deliver to Braemar any proxies that have been received prior
to the date of this Agreement by or on behalf of Blackwells or any of its Affiliates with respect to the Braemar 2024 Annual Meeting
and (iii)&nbsp;promptly (and in any event within two (2)&nbsp;business days (A)&nbsp;after the entry into this Agreement and (B)&nbsp;prior
to the date of the Annual Meeting) deliver to Braemar any proxies that are received from and after the date of this Agreement by or on
behalf of any Blackwells Party or any of its Affiliates with respect to the Braemar 2024 Annual Meeting, (x)&nbsp;acknowledges and agrees
that no proxies that have been or may be received by or on behalf of any Blackwells Party or any of its Affiliates with respect to the
Blackwells Nominations and Proposals will be voted in light of the irrevocable withdrawal by the Blackwells Parties of the Blackwells
Nominations and Proposals pursuant to the foregoing&nbsp;<U>subclause (i)</U>, (y)&nbsp;irrevocably withdraws and terminates all requests
for stockholder list materials and other books and records of Braemar pursuant to statutory or regulatory provisions providing for stockholder
access to books and records, including, without limitation, pursuant to Rule&nbsp;14a-7 under the Exchange Act and (z)&nbsp;irrevocably
withdraws and terminates all requests for action by or demands on the board of directors of Braemar. For the purposes of this Agreement,
 &ldquo;<U>Representatives</U>&rdquo; of a Party means such Party&rsquo;s Affiliates and its and their respective officers, directors,
employees, agents, advisors (including financial advisors, counsel, accountants, consultants, investment bankers and other professional
advisors).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><I>Withdrawal
of Demands on the Board of Directors of AHT and Other Members of the Company Group</I>. The Blackwells Parties, on behalf of themselves
and their Affiliates and Associates, hereby irrevocably withdraw and terminate all requests for action by or demands on the board of
directors of AHT and other members of the Company Group.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><I>Withdrawal
of Document Preservation Notices Delivered to Third Parties Relating to members of the Company Group. </I>The Blackwells Parties, on
behalf of themselves and their Affiliates and Associates, will promptly after the execution hereof withdraw in writing any document preservation
notices delivered to third parties in connection with previously contemplated potential litigation against any member of the Company
Group, including without limitation the document preservation notice delivered by any of the Blackwells Parties or their Affiliates and
Associates to JRK Torrey Pines Hotel Owner LLC or its Affiliates.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><I>Websites
and Social Media</I>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
Blackwells Party shall, and shall cause its Affiliates and Representatives to, promptly (and in any event within twenty-four (24) hours
after entry into this Agreement), disable (and not permit to be re-enabled during the Standstill Period (as defined below)) the website
 &ldquo;https://nomoremonty.com/&rdquo;, the website &ldquo;https://montymustgo.com&rdquo; and any other website(s)&nbsp;it directly or
indirectly maintains, and delete or disable any other social media posts and accounts over which it has control (including, without limitation,
(A)&nbsp;https://x.com/nomoremonty, (B)&nbsp;https://www.instagram.com/no_more_monty/ and (C)&nbsp;any other posts made to any other
accounts on LinkedIn, Facebook,&nbsp;Instagram, TikTok, Snapchat, X (formerly known as Twitter) and YouTube), in each case with respect
to its prior solicitation efforts and/or campaigns or otherwise with respect to (X)&nbsp;the Braemar 2024 Annual Meeting, (Y)&nbsp;AHT&rsquo;s
2024 Annual Meeting of Stockholders or (Z)&nbsp;any member of the Company Group.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
member of the Company Group shall, and shall cause its Affiliates and Representatives to, promptly (and in any event within twenty-four
(24) hours after entry into this Agreement) disable (and not permit to be re-enabled during the Standstill Period) the website https://www.ExpelBlackwells.com/
and any other website(s)&nbsp;it directly or indirectly maintains, and delete or disable any other social media posts and accounts over
which it has control (including, without limitation, (A)&nbsp;https://x.com/ExpelBlackwells, (B)&nbsp;https://www.linkedin.com/company/expel-blackwells/,
(C)&nbsp;https://www.instagram.com/expelblackwells/ and (D)&nbsp;any other posts made to any other accounts on LinkedIn, Facebook,&nbsp;Instagram,
TikTok, Snapchat, X (formerly known as Twitter) and YouTube), in each case with respect to its prior solicitation efforts and/or campaigns
or otherwise with respect to (X)&nbsp;the Braemar 2024 Annual Meeting of Stockholders, (Y)&nbsp;the AHT 2024 Annual Meeting of Stockholders
or (Z)&nbsp;any Blackwells Party.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><I>Voting
Agreements.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
Blackwells Party agrees that it will, subject to waiver in whole or in part by the relevant member of the Company Group in its sole discretion,
(A)&nbsp;appear in person or by proxy at any annual meeting of stockholders of any member of the Company Group (including, without limitation,
the Braemar 2024 Annual Meeting) or special meeting of stockholders of any member of the Company Group held during the Standstill Period
and vote all securities of the relevant member of the Company Group then Beneficially Owned (as defined below) by such Blackwells Party
(including, for the avoidance of doubt, any shares of common stock of Braemar acquired prior to, on or after the date hereof up to the
9.8% limit set forth in <U>Section&nbsp;3(j)</U>) in accordance with the recommendation of the board of directors of such member of the
Company Group on any proposals considered at such meeting, and (B)&nbsp;deliver consents or consent revocations in any action by written
consent by stockholders of any member of the Company Group during the Standstill Period in accordance with the recommendation of the
board of directors of such relevant member of the Company Group.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Upon
the request of any member of the Company Group, as applicable, each Blackwells Party shall provide reasonable evidence that it has complied
with the requirements of&nbsp;<U>subclause (d)(i)</U>&nbsp;above with respect to any annual or special meeting of any member of the Company
Group held during the Standstill Period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">During
the Standstill Period and upon the request of any member of the Company Group, as applicable, each Blackwells Party agrees to solicit
proxies or written consents, or assist in the solicitation of proxies or written consents, in accordance with the recommendation of the
board of directors of such member of the Company Group with respect to any proposals to be considered or acted upon by written consent,
or by vote at any annual or special meeting of stockholders, of such member of the Company Group; provided that each Blackwells Party,
in connection with such solicitation or assistance in solicitation, is insured under the applicable insurance policies of such member
of the Company Group to the same extent as such member of the Company Group is insured (it being understood that the Blackwells Parties
shall reasonably cooperate with such member of the Company Group in order to have such Blackwells Parties named as &ldquo;additional
insureds&rdquo; under such member of the Company Group&rsquo;s applicable insurance policies).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><I>Irrevocable
Proxy</I>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">In
the event that, and subject to, the Blackwells Parties failing to comply with the terms of&nbsp;<U>Section&nbsp;1(e)(i)</U>, the Blackwells
Parties hereby irrevocably appoint the relevant member of the Company Group, as applicable, as the sole and exclusive attorney-in-fact
and proxy of the Blackwells Parties, with full power of substitution, to vote at any annual or special meeting of stockholders of such
member of the Company Group held during the Standstill Period (including, without limitation, the Braemar 2024 Annual Meeting), all of
the shares of capital stock of such member of the Company Group that now are or hereafter may be owned by the Blackwells Parties in accordance
with the terms of&nbsp;<U>Section&nbsp;1(e)(i)</U>&nbsp;(provided that the Company shall provide Blackwells Capital prompt written notice
of any such failure of the Blackwells Parties to comply with the terms of <U>Section&nbsp;1(e)(i)</U>&nbsp;and shall provide the Blackwells
Parties with reasonable opportunity under the circumstances to cure any such failure);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Upon
each Blackwells Party&rsquo;s execution of this Agreement, any and all prior proxies given by such Blackwells Party with respect to any
capital stock of any member of the Company Group are hereby revoked and such Blackwells Party agrees not to grant any subsequent proxies
with respect to the capital stock of any member of the Company Group with respect to any proposed action by written consent or any vote
at any annual or special meeting of stockholders of any member of the Company Group held during the Standstill Period (including, without
limitation, the Braemar 2024 Annual Meeting); and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
proxy granted by this&nbsp;<U>Section&nbsp;1(f)</U>&nbsp;is coupled with an interest, is irrevocable and is granted for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><I>Board
Matters</I>. Promptly following the execution and delivery of this Agreement, the board of directors of Braemar and all applicable committees
of the board of directors of Braemar shall take steps to identify and select one (1)&nbsp;additional individual (the &ldquo;<U>Additional
Board Member</U>&rdquo;) to be appointed to serve as a member of the board who shall qualify as &ldquo;independent&rdquo; as defined
by Section&nbsp;303A.02 of the New York Stock Exchange&rsquo;s Listed Company Manual and whose qualifications shall be reviewed and approved
by the Nominating and Corporate Governance Committee of the board of directors of Braemar to serve as a member of the board of directors
of Braemar. The board of directors of Braemar shall promptly notify Blackwells Capital of its selection of the Additional Board Member
and shall consider any input Blackwells Capital may have with respect to the Additional Board Member. Upon selecting the Additional Board
Member, the board of directors of Braemar and all applicable committees of the board of directors of Braemar shall promptly take all
necessary actions to increase the size of the such board&rsquo;s membership by one (1)&nbsp;and appoint the Additional Board Member as
a member of the board of directors of Braemar with a term expiring at Braemar&rsquo;s 2025 Annual Meeting of Stockholders or until such
Additional Board Member&rsquo;s earlier resignation or removal.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Litigation</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><I>Dismissal
with Prejudice of Consolidated Litigation</I>. Within one (1)&nbsp;business day of the execution of this Agreement, Braemar shall file
with the United States District Court for the Northern District of Texas an executed Stipulation of Voluntary Dismissal (the &ldquo;<U>Stipulation</U>&rdquo;),
with prejudice, with respect to the Consolidated Litigation, the form of which Stipulation is attached hereto as <U>Exhibit&nbsp;A</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><I>Legal
Expense Reimbursement</I>. Concurrently upon execution of this Agreement, Braemar shall reimburse Blackwells Capital or its designated
Affiliate, in the amount previously agreed by the Parties and in accordance with wire instructions provided to Braemar prior to the date
hereof by Blackwells Capital or its designated Affiliate, for the Blackwells Parties&rsquo; reasonable attorneys&rsquo; fees and expenses
incurred on or prior to the date of this Agreement in connection with the Consolidated Litigation and related matters.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><I>Release
and Covenant Not to Sue</I>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">SUBJECT
TO THE FILING OF THE STIPULATION AND THE PAYMENT OF THE LEGAL EXPENSE REIMBURSEMENT SET FORTH IN <U>SECTION&nbsp;2(b)</U>, EACH OF THE
BLACKWELLS PARTIES DO FOR THEMSELVES AND EACH OF THEIR RESPECTIVE AFFILIATES, PARENTS, SUBSIDIARIES, DIVISIONS, PARTNERS, DIRECTORS,
OFFICERS, TRUSTEES, STOCKHOLDERS, MEMBERS, HEIRS, SUCCESSORS AND ASSIGNS,&nbsp;IF ANY (COLLECTIVELY, THE &ldquo;<U>BLACKWELLS RELEASING
PARTIES</U>&rdquo;), RELEASE WITH PREJUDICE AND ABSOLUTELY FOREVER DISCHARGE BRAEMAR AND EACH OF THE OTHER MEMBERS OF THE COMPANY GROUP,
AND EACH OF THEIR RESPECTIVE AFFILIATES, AND EACH OF THEIR RESPECTIVE PRESENT AND FORMER OFFICERS, DIRECTORS, TRUSTEES, STOCKHOLDERS,
PARTNERS, EMPLOYEES, ADVISORS, AGENTS,&nbsp;INSURERS, ATTORNEYS, LEGAL REPRESENTATIVES, CONSULTANTS, MEMBERS, ADMINISTRATORS AND REPRESENTATIVES,
AND EACH OF THEIR RESPECTIVE AFFILIATES (INCLUDING FOR THE AVOIDANCE OF DOUBT THE DALLAS EXPRESS) (THE &ldquo;<U>COMPANY GROUP RELEASED
PARTIES</U>&rdquo;) FROM AND AGAINST ALL COMPANY GROUP RELEASED MATTERS. &ldquo;<U>COMPANY GROUP RELEASED MATTERS</U>&rdquo; MEANS ANY
AND ALL CLAIMS, COUNTERCLAIMS, DEMANDS, DAMAGES, DEBTS, LIABILITIES, OBLIGATIONS, COSTS, EXPENSES (INCLUDING, WITHOUT LIMITATION, ATTORNEYS&rsquo;
AND ACCOUNTANTS&rsquo; FEES AND EXPENSES), ACTIONS AND CAUSES OF ACTION OF ANY NATURE WHATSOEVER, WHETHER NOW KNOWN OR UNKNOWN, ACCRUED
OR UNACCRUED, SUSPECTED OR UNSUSPECTED, AT LAW OR EQUITY, WHETHER UNDER STATUTE, RULE, REGULATION, OR COMMON LAW, THAT ANY BLACKWELLS
RELEASING PARTY NOW HAS, OR AT ANY TIME PREVIOUSLY HAD, OR SHALL OR MAY&nbsp;HAVE IN THE FUTURE, ARISING BY VIRTUE OF OR IN ANY MATTER
RELATED TO ANY ACTION OR INACTION BY OR WITH RESPECT TO ANY OF THE COMPANY GROUP RELEASED PARTIES OR ANY OF THEIR RESPECTIVE AFFAIRS
ON OR BEFORE THE EFFECTIVE DATE HEREOF,&nbsp;INCLUDING, WITHOUT LIMITATION, ANY ALLEGATIONS OR CLAIMS RELATING IN ANY WAY TO THE CONSOLIDATED
LITIGATION; PROVIDED THAT COMPANY GROUP RELEASED MATTERS SHALL NOT INCLUDE ANY RIGHT OF THE BLACKWELLS PARTIES CONTAINED IN THIS AGREEMENT.
IT IS THE INTENTION OF EACH PERSON IN EXECUTING THIS RELEASE THAT THE RELEASE CONTAINED IN THIS <U>SECTION&nbsp;2(c)(i)</U>&nbsp;SHALL
BE EFFECTIVE AS A FULL AND FINAL ACCORD AND SATISFACTION AND GENERAL RELEASE OF AND FROM ALL COMPANY GROUP RELEASED MATTERS AND THE FINAL
RESOLUTION BY THE COMPANY GROUP RELEASED PARTIES OF ALL COMPANY GROUP RELEASED MATTERS. EACH BLACKWELLS RELEASING PARTY HEREBY REPRESENTS
TO THE COMPANY GROUP RELEASED PARTIES THAT SUCH BLACKWELLS RELEASING PARTY HAS NOT VOLUNTARILY OR INVOLUNTARILY ASSIGNED OR TRANSFERRED
OR PURPORTED TO ASSIGN OR TRANSFER TO ANY PERSON ANY COMPANY GROUP RELEASED MATTERS AND THAT NO PERSON OTHER THAN SUCH BLACKWELLS RELEASING
PARTY HAS ANY INTEREST IN ANY COMPANY GROUP RELEASED MATTER BY LAW OR CONTRACT BY VIRTUE OF ANY ACTION OR INACTION BY THE BLACKWELLS
RELEASING PARTIES. THE INVALIDITY OR UNENFORCEABILITY OF ANY PART&nbsp;OF THIS <U>SECTION&nbsp;2(c)(i)</U>&nbsp;SHALL NOT AFFECT THE
VALIDITY OR ENFORCEABILITY OF THE REMAINDER OF THIS <U>SECTION&nbsp;2(c)(i)</U>&nbsp;WHICH SHALL REMAIN IN FULL FORCE AND EFFECT. NOTHING
IN THIS <U>SECTION&nbsp;2(c)(i)</U>&nbsp;SHALL PREVENT ANY PARTY FROM ENFORCING THE TERMS OF THIS AGREEMENT.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">SUBJECT
TO THE FILING OF THE STIPULATION, EACH OF BRAEMAR AND THE OTHER MEMBERS OF THE COMPANY GROUP DO FOR THEMSELVES AND EACH OF THEIR RESPECTIVE
AFFILIATES, PARENTS, SUBSIDIARIES, DIVISIONS, PARTNERS, DIRECTORS, OFFICERS, TRUSTEES, STOCKHOLDERS, MEMBERS, HEIRS, SUCCESSORS AND ASSIGNS,&nbsp;IF
ANY (COLLECTIVELY, THE &ldquo;<U>COMPANY GROUP RELEASING PARTIES</U>&rdquo;), RELEASE WITH PREJUDICE AND ABSOLUTELY FOREVER DISCHARGE
THE BLACKWELLS PARTIES AND EACH OF THEIR RESPECTIVE AFFILIATES, AND EACH OF THEIR RESPECTIVE PRESENT AND FORMER OFFICERS, DIRECTORS,
TRUSTEES, STOCKHOLDERS, PARTNERS, EMPLOYEES, ADVISORS, AGENTS,&nbsp;INSURERS, ATTORNEYS, LEGAL REPRESENTATIVES, CONSULTANTS, MEMBERS,
ADMINISTRATORS AND REPRESENTATIVES, AND EACH OF THEIR RESPECTIVE AFFILIATES (THE &ldquo;<U>BLACKWELLS RELEASED PARTIES</U>&rdquo;) FROM
AND AGAINST ALL BLACKWELLS RELEASED MATTERS. &ldquo;<U>BLACKWELLS RELEASED MATTERS</U>&rdquo; MEANS ANY AND ALL CLAIMS, COUNTERCLAIMS,
DEMANDS, DAMAGES, DEBTS, LIABILITIES, OBLIGATIONS, COSTS, EXPENSES (INCLUDING, WITHOUT LIMITATION, ATTORNEYS&rsquo; AND ACCOUNTANTS&rsquo;
FEES AND EXPENSES), ACTIONS AND CAUSES OF ACTION OF ANY NATURE WHATSOEVER, WHETHER NOW KNOWN OR UNKNOWN, ACCRUED OR UNACCRUED, SUSPECTED
OR UNSUSPECTED, AT LAW OR EQUITY, WHETHER UNDER STATUTE, RULE, REGULATION, OR COMMON LAW, THAT ANY COMPANY GROUP PARTY NOW HAS, OR AT
ANY TIME PREVIOUSLY HAD, OR SHALL OR MAY&nbsp;HAVE IN THE FUTURE, ARISING BY VIRTUE OF OR IN ANY MATTER RELATED TO ANY ACTION OR INACTION
BY OR WITH RESPECT TO ANY OF THE BLACKWELLS RELEASED PARTIES OR ANY OF THEIR RESPECTIVE AFFAIRS ON OR BEFORE THE EFFECTIVE DATE HEREOF,&nbsp;INCLUDING,
WITHOUT LIMITATION, ANY ALLEGATIONS OR CLAIMS RELATING IN ANY WAY TO THE CONSOLIDATED LITIGATION; PROVIDED THAT BLACKWELLS RELEASED MATTERS
SHALL NOT INCLUDE ANY RIGHT OF BRAEMAR OR ANY OTHER COMPANY GROUP RELEASING PARTY CONTAINED IN THIS AGREEMENT. IT IS THE INTENTION OF
EACH PERSON IN EXECUTING THIS RELEASE THAT THE RELEASE CONTAINED IN THIS <U>SECTION&nbsp;2(c)(ii)</U>&nbsp;SHALL BE EFFECTIVE AS A FULL
AND FINAL ACCORD AND SATISFACTION AND GENERAL RELEASE OF AND FROM ALL BLACKWELLS RELEASED MATTERS AND THE FINAL RESOLUTION BY THE BLACKWELLS
RELEASED PARTIES OF ALL BLACKWELLS RELEASED MATTERS. EACH COMPANY GROUP RELEASING PARTY HEREBY REPRESENTS TO THE BLACKWELLS RELEASED
PARTIES THAT SUCH COMPANY GROUP RELEASING PARTY HAS NOT VOLUNTARILY OR INVOLUNTARILY ASSIGNED OR TRANSFERRED OR PURPORTED TO ASSIGN OR
TRANSFER TO ANY PERSON ANY BLACKWELLS RELEASED MATTERS AND THAT NO PERSON OTHER THAN SUCH COMPANY GROUP RELEASING PARTY HAS ANY INTEREST
IN ANY BLACKWELLS RELEASED MATTER BY LAW OR CONTRACT BY VIRTUE OF ANY ACTION OR INACTION BY THE COMPANY GROUP RELEASING PARTIES. THE
INVALIDITY OR UNENFORCEABILITY OF ANY PART&nbsp;OF THIS <U>SECTION&nbsp;2(c)(ii)</U>&nbsp;SHALL NOT AFFECT THE VALIDITY OR ENFORCEABILITY
OF THE REMAINDER OF THIS <U>SECTION&nbsp;2(c)(ii)</U>&nbsp;WHICH SHALL REMAIN IN FULL FORCE AND EFFECT. NOTHING IN THIS <U>SECTION&nbsp;2(c)(ii)</U>&nbsp;SHALL
PREVENT ANY PARTY FROM ENFORCING THE TERMS OF THIS AGREEMENT.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Standstill</U>.
From and after the execution of this Agreement until and through July&nbsp;2, 2034 (such period, the &ldquo;<U>Standstill Period</U>&rdquo;),
none of the Blackwells Parties shall, directly or indirectly, and each of the Blackwells Parties agrees not to, directly or indirectly,
or otherwise cause any of Representatives acting on its behalf or any of its Affiliates and Associates to, directly or indirectly, in
any manner, alone or in concert with others, with respect to any member of the Company Group:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">engage
in, or encourage, assist, support, advise or facilitate, directly or indirectly, any solicitation of proxies or consents or become a
 &ldquo;participant&rdquo; in a &ldquo;solicitation&rdquo; (as such terms are defined in Regulation 14A under the Exchange Act) of proxies
or consents (including, without limitation, any solicitation of consents that seeks to call a special meeting of stockholders), in each
case, with respect to any Securities of any member the Company Group (as used in this Agreement, the term &ldquo;<U>Securities of any
member of the Company Group</U>&rdquo; shall mean any securities of any member of the Company Group, including but not limited to the
common stock, preferred stock, or any securities convertible or exchangeable into or exercisable for any such securities or any derivatives
thereof);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">encourage,
influence, advise, form, join or in any way participate in any &ldquo;partnership, limited partnership, syndicate or other group&rdquo;
(within the meaning of Section&nbsp;13(d)(3)&nbsp;of the Exchange Act) with respect to Securities of any member of the Company Group
(provided, however, that, for the avoidance of doubt, the filing of a Schedule 13D or any amendments thereto upon the acquisition of
Braemar common stock by any member of the Blackwells Parties (i)&nbsp;pursuant to that certain Share Ownership Agreement dated the date
of this Agreement or (ii)&nbsp;prior to, on or after the date hereof up to the 9.8% limit set forth in <U>Section&nbsp;3(j)</U>&nbsp;shall
not <I>per se</I> constitute a violation of this <U>Section&nbsp;3(b)</U>);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">deposit
any shares of Securities of any member of the Company Group in any voting trust or subject any Securities of any member of the Company
Group to any arrangement or agreement with respect to the voting of any Securities of any member of the Company Group, other than as
set forth <U>Section&nbsp;1</U> of this Agreement;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">seek,
or encourage any Person (as defined below), to submit nominations in furtherance of a Contested Solicitation (as defined below) for the
election or removal of directors with respect to any member of the Company Group or seek, encourage or take any other action with respect
to such election or removal of any directors;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">(i)&nbsp;make
any proposal for consideration by stockholders at any annual or special meeting of stockholders of any member of the Company Group or
in connection with a consent solicitation, (ii)&nbsp;make any offer or proposal (with or without conditions) with respect to any tender
or exchange offer, merger, acquisition, recapitalization, restructuring, disposition or other business combination involving any member
of the Company Group or that would cause or result in a class of any Securities of any member of the Company Group to be delisted from,
or to cease to be authorized to be quoted on, any securities exchange or to become eligible for termination of registration pursuant
to Section&nbsp;12(g)(4)&nbsp;of the Exchange Act, (iii)&nbsp;solicit a third party to make an offer or proposal (with or without conditions)
with respect to, or in any way assist, facilitate, support or encourage, or pay or subsidize the expenses of, or otherwise finance any
third party in making an offer or proposal with respect to, any tender or exchange offer, merger, acquisition, recapitalization, restructuring,
disposition or other business combination involving any member of the Company Group or that would cause or result in a class of any Securities
of any member of the Company Group to be delisted from, or to cease to be authorized to be quoted on, any securities exchange or to become
eligible for termination of registration pursuant to Section&nbsp;12(g)(4)&nbsp;of the Exchange Act, (iv)&nbsp;comment on any third party
proposal regarding any tender or exchange offer, merger, acquisition, recapitalization, restructuring, disposition, or other business
combination with respect to any member of the Company Group or other transaction that would cause or result in a class of any Securities
of any member of the Company Group to be delisted from, or to cease to be authorized to be quoted on, any securities exchange or to become
eligible for termination of registration pursuant to Section&nbsp;12(g)(4)&nbsp;of the Exchange Act, (v)&nbsp;call or seek to call a
special meeting of stockholders of any member of the Company Group, including by written consent, or (vi)&nbsp;take any action in support
of or make any proposal or request that relates to amendments or modifications to the certificate of incorporation, bylaws or advisory
agreement of any member of the Company Group;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">sell,
or agree to sell, directly or indirectly, through swap or hedging transactions or otherwise, any Securities of any member of the Company
Group to any third party that (i)&nbsp;has filed a Schedule 13D, (ii)&nbsp;has run (or publicly announced an intention to run) a proxy
contest with respect to another company in the three (3)&nbsp;years prior to the time of such sale or agreement to sell or (iii)&nbsp;will
as a result of the transaction have Beneficial Ownership (as defined below) of more than five percent (5%) of any outstanding series
or class of Securities of any member of the Company Group; provided that notwithstanding the foregoing, the Blackwells Parties may sell
Securities of any member of the Company Group through sale transactions on the New York Stock Exchange (&ldquo;<U>NYSE</U>&rdquo;) or
through a broker or dealer where the identity of the purchaser is not known;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">(i)&nbsp;seek
representation on the board of directors of any member of the Company Group, (ii)&nbsp;seek the removal of any member of the board of
directors of any member of the Company Group, (iii)&nbsp;make a request for any stockholder list or other books and records of any member
of the Company Group, whether pursuant to Rule&nbsp;14d-5 or Rule&nbsp;14a-7 of the Exchange Act, Section&nbsp;2-512 or Section&nbsp;2-513
of the Maryland General Corporation Law, Section&nbsp;257 of Chapter 78 of Nevada Revised Statutes, Section&nbsp;1315 of the New York
Business Corporation Law or otherwise, or make any application to a court or other Person for inspection, investigation or examination
of any member of the Company Group or their respective subsidiaries or Affiliates or (iv)&nbsp;make any demands, objections, proposals
or recommendations to any member of the Company Group or any member of the board of directors or management of any member of the Company
Group in its capacity as a stockholder, on behalf of any member of the Company Group in a stockholder derivative capacity, or otherwise;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">institute,
solicit or join, as a party, any litigation, arbitration or other proceeding (including any derivative action) against any member of
the Company Group or any of their respective future, current or former directors or officers or employees in their capacity as a director
or officer or employee of such member of the Company Group; provided that nothing shall prevent the Blackwells Parties from bringing
litigation to enforce the provisions of this Agreement;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">exercise,
or seek to advise, encourage, support or influence any Person with respect to the exercise of, any rights as a holder of preferred stock
of any member of the Company Group to elect additional directors of any member of the Company Group, including, without limitation, recommending
potential directors or seeking representation on the board of directors, or communicating with other holders of preferred stock in connection
with such effort to elect additional directors;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">acquire,
offer, seek or propose to acquire, agree to acquire, or announce any intention to acquire, directly or indirectly, whether by purchase,
tender or exchange offer or otherwise, through the acquisition of control of another Person or by joining a &ldquo;partnership, limited
partnership, syndicate or other group&rdquo; (within the meaning of Section&nbsp;13(d)(3)&nbsp;of the Exchange Act and the rules&nbsp;of
the SEC promulgated thereunder), Beneficial Ownership of any outstanding series or class of any Securities of any member of the Company
Group other than common stock of Braemar constituting in the aggregate no greater than 9.8% of the total then-issued and outstanding
common stock of Braemar;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">seek
to advise, encourage, support or influence any Person with respect to the voting or disposition of any Securities of any member of the
Company Group at any annual or special meeting of stockholders or in connection with any consent solicitation, including for the avoidance of doubt by issuing any public statement criticizing or otherwise commenting upon (i) any proposal to be considered
at an annual or special meeting of stockholders of any member of the Company Group or (ii) the recommendation of the board of directors
of such member of the Company Group with respect thereto;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">otherwise,
acting alone or in concert with others, seek to control or influence the management, strategies, governance, policies or any other aspect
of any member of the Company Group;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">authorize,
solicit, pay or subsidize any third party to perform, act in concert with another Person to, commit to, or agree in writing or otherwise
to do, advise, assist or encourage any Person in connection with, or enter into any discussions, negotiations, arrangements or understandings
with any Person with respect to, any act prohibited in this <U>Section&nbsp;3</U>;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">take
any action which would cause or require any member of the Company Group to make public disclosure regarding any of the foregoing or make
any request or submit any proposal to amend the terms of this Agreement other than through non-public communications with the Company
that would not be reasonably determined to trigger public disclosure obligations for any member of the Company Group;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(o)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">disclose
any intention, plan or arrangement inconsistent with the restrictions set forth in this <U>Section&nbsp;3</U>; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">contest
the validity of, or publicly request any waiver of, the obligations set forth in this <U>Section&nbsp;3</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">As used in this Agreement:
(i)&nbsp;the term &ldquo;<U>Beneficial Owner</U>&rdquo; shall have the same meaning as set forth in Rule&nbsp;13d-3 promulgated by the
Commission under the Exchange Act, except that a Person will also be deemed to beneficially own (A)&nbsp;all Securities of any member
of the Company Group which such Person has the right to acquire pursuant to the exercise of any rights in connection with any securities
or any agreement, regardless of when such rights may be exercised and whether they are conditional, and (B)&nbsp;all Securities of any
member of the Company Group in which such Person has any economic interest, including, without limitation, pursuant to a cash settled
call option or other derivative security, contract or instrument in any way related to the price of any Securities of any member of the
Company Group (and the terms &ldquo;<U>Beneficial Ownership</U>&rdquo; and &ldquo;<U>Beneficially Own</U>&rdquo; shall have a correlative
meaning); (ii)&nbsp;the term &ldquo;<U>Contested Solicitation</U>&rdquo; shall mean any solicitation for the election of directors subject
to Rule&nbsp;14a-12(c)&nbsp;promulgated by the Commission under the Exchange Act; and (iii)&nbsp;the terms &ldquo;<U>Person</U>&rdquo;
or &ldquo;<U>Persons</U>&rdquo; shall mean any individual, corporation (including not-for-profit), general or limited partnership, limited
liability company, joint venture, estate, trust, association, labor union or chapter or other division thereof, organization or other
entity of any kind or nature.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Representations
and Warranties of Members of the Company Group.</U> Each member of the Company Group represents and warrants to the Blackwells Parties
that (a)&nbsp;such member of the Company Group has the corporate power and authority to execute this Agreement and to bind it thereto,
(b)&nbsp;this Agreement has been duly and validly authorized, executed and delivered by such member of the Company Group, and assuming
due execution by each counterparty hereto, constitutes a valid and binding obligation and agreement of such member of the Company Group,
and is enforceable against such member of the Company Group in accordance with its terms, except as enforcement thereof may be limited
by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or similar laws generally affecting the rights
of creditors and subject to general equity principles and (c)&nbsp;the execution, delivery and performance of this Agreement by such
member of the Company Group does not and will not (i)&nbsp;violate or conflict with any law, rule, regulation, order, judgment or decree
applicable to such member of the Company Group, or (ii)&nbsp;result in any breach or violation of or constitute a default (or an event
which with notice or lapse of time or both would constitute such a breach, violation or default) under or pursuant to, or result in the
loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document
or agreement, contract, commitment, understanding or arrangement to which such member of the Company Group is a party or by which it
is bound.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Representations
and Warranties of the Blackwells Parties</U>. Each of the Blackwells Parties represents and warrants to the members of the Company Group
that: (a)&nbsp;the authorized signatory of such party set forth under such Blackwells Party&rsquo;s name on the signature pages&nbsp;hereto
has the power and authority to execute this Agreement and any other documents or agreements to be entered into in connection with this
Agreement and to bind such Blackwells Party thereto, (b)&nbsp;this Agreement has been duly authorized, executed and delivered by such
Blackwells Party, and assuming due execution by each counterparty hereto, is a valid and binding obligation of such Blackwells Party,
enforceable against such Blackwells Party in accordance with its terms, except as enforcement thereof may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance or similar laws generally affecting the rights of creditors and subject
to general equity principles, (c)&nbsp;the execution of this Agreement, the consummation of any of the transactions contemplated hereby,
and the fulfillment of the terms hereof, in each case in accordance with the terms hereof, will not conflict with, or result in a breach
or violation of the organizational documents of such Blackwells Party as currently in effect, (d)&nbsp;the execution, delivery and performance
of this Agreement by such Blackwells Party does not and will not (i)&nbsp;violate or conflict with any law, rule, regulation, order,
judgment or decree applicable to such Blackwells Party, or (ii)&nbsp;result in any breach or violation of or constitute a default (or
an event which with notice or lapse of time or both would constitute such a breach, violation or default) under or pursuant to, or result
in the loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational
document, agreement, contract, commitment, understanding or arrangement to which such Blackwells Party is a party or by which it is bound,
(e)&nbsp;as of the date of this Agreement, the Blackwells Parties (i)&nbsp;are deemed to Beneficially Own 1,208,776 shares of common
stock (including 250,000 shares of common stock underlying options exercisable by the Blackwells Parties on October&nbsp;18, 2024), (ii)&nbsp;do
not currently Beneficially Own any shares of Series&nbsp;E redeemable preferred stock, and (iii)&nbsp;do not currently Beneficially Own
any shares of Series&nbsp;M redeemable preferred stock of Braemar, (f)&nbsp;as of the date of this Agreement, the Blackwells Parties
are deemed to Beneficially Own 1,000 shares of common stock of AHT and (g)&nbsp;as of the date hereof, and except as set forth in clauses
(e)&nbsp;and (f)&nbsp;above, such Blackwells Parties do not currently Beneficially Own or have, and do not currently have any right to
acquire, any interest in any securities or assets of any member of the Company Group (or any rights, options or other securities convertible
into or exercisable or exchangeable (whether or not convertible, exercisable or exchangeable immediately or only after the passage of
time or the occurrence of a specified event) for such securities or assets or any obligations measured by the price or value of any securities
of a member of the Company Group, including, without limitation, any swaps or other derivative arrangements designed to produce economic
benefits and risks that correspond to the ownership of shares of common stock or any other securities of any member of the Company Group,
whether or not any of the foregoing in this&nbsp;<U>subclause (g)</U>&nbsp;would give rise to Beneficial Ownership, and whether or not
to be settled by delivery of shares of common stock or any other class or series of the securities of any member of the Company Group,
payment of cash or by other consideration, and without regard to any short position under any such contract or arrangement).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Mutual
Non-Disparagement</U>. Subject to applicable law, each of the Parties covenants and agrees that, during the Standstill Period, or, if
earlier, until such time as another Party or any of its agents, subsidiaries, Affiliates, successors, assigns, partners, members, officers,
key employees or directors shall have breached this&nbsp;<U>Section&nbsp;6</U>, neither it nor any of its respective agents, subsidiaries,
Affiliates, successors, assigns, members, officers, key employees or directors shall in any way publicly criticize, disparage, call into
disrepute or otherwise defame or slander any other Party or such other Party&rsquo;s subsidiaries, Affiliates, successors, assigns, officers
(including any current officer of a Party or a Party&rsquo;s subsidiaries who no longer serves in such capacity at any time following
the execution of this Agreement), directors (including any current officer or director of a Party or a Party&rsquo;s subsidiaries who
no longer serves in such capacity at any time following the execution of this Agreement and, for the avoidance of doubt, the Additional
Board Member), employees, stockholders, agents, attorneys or representatives or the members of the Company Group, or any of their businesses,
products or services, in any manner that would reasonably be expected to damage the business or reputation of such other Party, their
businesses, products or services or their subsidiaries, Affiliates, successors, assigns, officers (or former officers), directors (or
former directors), employees (or former employees), stockholders, agents, attorneys or representatives or members of the Company Group.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Public
Announcements</U>. Promptly following the execution of this Agreement, Braemar shall issue a mutually agreeable press release (the &ldquo;<U>Press
Release</U>&rdquo;) announcing this Agreement, substantially in the form attached hereto as <U>Exhibit&nbsp;B</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>SEC
Filings</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">No
later than two (2)&nbsp;business days following the execution of this Agreement, Braemar shall file a Current Report on Form&nbsp;8-K
with the SEC reporting entry into this Agreement and appending or incorporating by reference this Agreement as an exhibit thereto (the
 &ldquo;<U>Form&nbsp;8-K</U>&rdquo;). Braemar shall provide the Blackwells Parties with a reasonable opportunity to review and comment
on the Form&nbsp;8-K prior to its filing with the SEC and consider in good faith any comments of the Blackwells Parties.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Blackwells Parties shall not, during the Standstill Period, (i)&nbsp;issue a press release in connection with this Agreement or any of
the actions contemplated hereby or (ii)&nbsp;otherwise make any public statement, disclosure or announcement with respect to this Agreement
or any of the actions contemplated hereby, in each case, that is inconsistent with the statements and disclosures set forth in the Form&nbsp;8-K
or in the Press Release, except as required by law or the rules&nbsp;or regulations of any governmental or regulatory authority (including,
for the avoidance of doubt, any filing(s)&nbsp;made by the Blackwells Parties, or members thereof, on Schedule 13D (including any amendments
made thereto, the &ldquo;<U>Blackwells Schedule 13D</U>&rdquo;)) or applicable stock exchange listing rules&nbsp;or with the prior written
consent of Braemar; provided, however, that in the event the Blackwells Parties file the Blackwells Schedule 13D, the Blackwells Parties
shall provide Braemar with a reasonable opportunity to review and comment on the initial Blackwells Schedule 13D prior to its filing
with the SEC and consider in good faith any comments of Braemar.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Specific
Performance</U>. Each of the Blackwells Parties and the members of the Company Group acknowledge and agree that irreparable injury to
the other Parties hereto would occur in the event any of the provisions of this Agreement are not performed in accordance with their
specific terms or are otherwise breached and that such injury would not be adequately compensable by the remedies available at law (including
the payment of money damages). It is accordingly agreed that the Blackwells Parties, on the one hand, and the members of the Company
Group, on the other hand (the &ldquo;<U>Moving Party</U>&rdquo;), shall each be entitled to specific enforcement of, and injunctive relief
to prevent any violation of, the terms hereof, and each Party further agrees to waive any requirement for the security or posting of
any bond in connection with such remedy and the other Party will not take action, directly or indirectly, in opposition to the Moving
Party seeking such relief on the grounds that any other remedy or relief is available at law or in equity. This&nbsp;<U>Section&nbsp;9</U>&nbsp;is
not the exclusive remedy for any violation of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Notice</U>.
All notices, consents, determinations, waivers or other communications required or permitted to be given or made under the terms of this
Agreement must be in writing and will be deemed to have been duly delivered or made: (a)&nbsp;upon receipt, when delivered personally;
(b)&nbsp;upon receipt, when sent by electronic mail or facsimile (provided that confirmation of transmission is mechanically or electronically
generated and kept on file by the sending party); or (c)&nbsp;one (1)&nbsp;business day after deposit with a nationally recognized overnight
delivery service, in each case properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications
shall be (or such other address or facsimile for a party hereto as shall be specified in a notice given in accordance with this <U>Section&nbsp;10</U>):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">If to a member of the Company Group,
to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD COLSPAN="2" STYLE="text-align: left">Braemar Hotels&nbsp;&amp; Resorts Inc.<BR>
         14185 Dallas Parkway Suite&nbsp;1200<BR>
         Dallas, Texas 75254</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.35in">&nbsp;</TD><TD STYLE="text-align: left; width: 1in">Attention:&#8239;</TD><TD STYLE="text-align: justify">Alex
                                            Rose</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Facsimile No.:</TD><TD STYLE="text-align: justify">(972) 392-1929</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Email:&#8239;</TD><TD STYLE="text-align: justify">arose@ashfordinc.com</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">With a copy (which shall not constitute
notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cadwalader, Wickersham&nbsp;&amp;
         Taft LLP<BR>
         200 Liberty Street<BR>
         New York, NY 10281</FONT></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.35in">&nbsp;</TD><TD STYLE="text-align: left; width: 1in">Attention:&#8239;</TD><TD STYLE="text-align: justify">Richard
                                            M. Brand<BR>
                                            Gregory P. Patti,&nbsp;Jr.</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Facsimile No.:</TD><TD STYLE="text-align: justify">(212) 504-6666</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Email:&#8239;</TD><TD STYLE="text-align: justify">richard.brand@cwt.com</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">greg.patti@cwt.com</TD></TR>
     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">If to any of the Blackwells Parties,
to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">c/o Blackwells Capital LLC<BR>
         400 Park Avenue, 4<SUP>th</SUP>&nbsp;Floor<BR>
         New York, NY 10022</FONT></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.35in">&nbsp;</TD><TD STYLE="text-align: left; width: 1in">Attention:&#8239;</TD><TD STYLE="text-align: justify">Jason
                                            Aintabi</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Facsimile No.:</TD><TD STYLE="text-align: justify">212-792-6097</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Email:&#8239;</TD><TD STYLE="text-align: justify">jaintabi@blackwellscap.com</TD></TR>
     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">With a copy (which shall not constitute
notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD COLSPAN="2" STYLE="text-align: left">Vinson&nbsp;&amp; Elkins L.L.P.<BR>
         1114 Avenue of the Americas, 32<SUP>nd</SUP> Floor<BR>
         New York, NY 10036</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.35in">&nbsp;</TD><TD STYLE="text-align: left; width: 1in">Attention:&#8239;</TD><TD STYLE="text-align: justify">Lawrence
                                            S. Elbaum</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Facsimile No.:</TD><TD STYLE="text-align: justify">(917) 849-5379</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Email:&#8239;</TD><TD STYLE="text-align: justify">lelbaum@velaw.com</TD></TR>

<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.35in">&nbsp;</TD><TD STYLE="text-align: left; width: 1in">Attention:&#8239;</TD><TD STYLE="text-align: justify">C.
                                            Patrick Gadson</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Facsimile No.:</TD><TD STYLE="text-align: justify">(917) 849-5386</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">Email:&#8239;</TD><TD STYLE="text-align: justify">pgadson@velaw.com</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in"></P>

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Governing
Law</U>. This Agreement shall be governed in all respects, including validity, interpretation, and effect, by, and construed in accordance
with, the laws of the State of Texas without giving effect to the choice of law or conflict of law principles thereof that would result
in the application of the laws of another jurisdiction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Jurisdiction</U>.
Each of the Parties irrevocably agrees that any suit, claim, action or proceeding relating to this Agreement and the rights and obligations
arising hereunder, or for recognition and enforcement of any judgment relating to this Agreement and the rights and obligations arising
hereunder brought by the other Parties hereto or their respective successors or permitted assigns, shall be brought and determined exclusively
in the federal courts of the United States located in the Northern District of Texas or, if such court does not have jurisdiction, the
Courts of the State of Texas, or any other court of competent jurisdiction located in the State of Texas. Each of the Parties hereby
irrevocably submits with regard to any such suit, claim, action or proceeding for themselves and in respect of their property, generally
and unconditionally, to the personal jurisdiction of the aforesaid courts and agrees that they will not bring any suit, claim, action
or proceeding relating to this Agreement in any court other than the aforesaid courts. Consistent with the preceding sentence, each of
the Parties hereby (a)&nbsp;submits to the exclusive jurisdiction of any federal or state court sitting in the State of Texas for the
purpose of any suit, claim, action or proceeding, directly or indirectly, relating to this Agreement brought by any Party hereto, (b)&nbsp;agrees
that service of process will be validly effected by sending notice in accordance with <U>Section&nbsp;10</U>, (c)&nbsp;irrevocably waives
and releases, and agrees not to assert by way of motion, defense, or otherwise, in or with respect to any such suit, claim, action or
proceeding, whether actual or potential, known or unknown, suspected or unsuspected, based upon past or future events, now existing or
coming into existence in the future, that (i)&nbsp;such suit, claim, action or proceeding is not subject to the subject matter jurisdiction
of at least one of the aforesaid courts, (ii)&nbsp;its property is exempt or immune from attachment or execution in the State of Texas,
(iii)&nbsp;such suit, claim, action or proceeding in such aforesaid courts is brought in an inconvenient forum, (iv)&nbsp;the venue of
such suit, claim, action or proceeding is improper, or (v)&nbsp;this Agreement or the transactions contemplated by this Agreement may
not be enforced in or by any of the aforesaid courts; and (d)&nbsp;agrees not to move to transfer any such suit, claim, action or proceeding
to a court other than any of the aforesaid courts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Waiver
of Jury Trial</U>. EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY&nbsp;ARISE UNDER THIS AGREEMENT IS LIKELY
TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY&nbsp;HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION RELATING TO THIS AGREEMENT OR
THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY TO THIS AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT (A)&nbsp;NO REPRESENTATIVE
OF ANY OTHER PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER
IN THE EVENT OF A LEGAL ACTION, (B)&nbsp;SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C)&nbsp;SUCH PARTY MAKES THIS WAIVER
VOLUNTARILY, AND (D)&nbsp;SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS <U>SECTION&nbsp;13</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Entire
Agreement</U>. This Agreement (including its Exhibits) constitutes the full and entire understanding and agreement among the parties
hereto with regard to the subject matter hereof, and supersedes all prior and contemporaneous agreements, understandings and representations,
whether oral or written, of the parties hereto with respect to the subject matter hereof. There are no restrictions, agreements, promises,
representations, warranties, covenants or undertakings, oral or written, between the parties other than those expressly set forth herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Headings</U>.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Waiver</U>.
No failure on the part of any party hereto to exercise, and no delay in exercising, any right, power or remedy hereunder shall operate
as a waiver thereof, nor shall any single or partial exercise of such right, power or remedy by such party preclude any other or further
exercise thereof or the exercise of any other right, power or remedy.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Remedies</U>.
All remedies hereunder are cumulative and are not exclusive of any other remedies provided by law or equity.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Construction</U>.
When a reference is made in this Agreement to a Section, such reference shall be to a Section&nbsp;of this Agreement, unless otherwise
indicated. Whenever the words &ldquo;include,&rdquo; &ldquo;includes&rdquo; and &ldquo;including&rdquo; are used in this Agreement, they
shall be deemed to be followed by the words &ldquo;without limitation.&rdquo; All references to a &ldquo;day&rdquo; or &ldquo;days&rdquo;
(other than references to &ldquo;business days&rdquo;) are to calendar days. The words &ldquo;hereof,&rdquo; &ldquo;herein&rdquo; and
 &ldquo;hereunder&rdquo; and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any
particular provision of this Agreement. References to a person are also to its successors and permitted assigns. The word &ldquo;will&rdquo;
shall be construed to have the same meaning as the word &ldquo;shall.&rdquo; The words &ldquo;dates hereof&rdquo; will refer to the date
of this Agreement. The word &ldquo;or&rdquo; is not exclusive. The definitions contained in this Agreement are applicable to the singular
as well as the plural forms of such terms. Any agreement, instrument, law, rule&nbsp;or statute defined or referred to herein means,
unless otherwise indicated, such agreement, instrument, law, rule&nbsp;or statute as from time to time amended, modified, supplemented
or replaced. All references in this Agreement to &ldquo;$,&rdquo; USD or Dollars shall refer to United States dollars, unless otherwise
specified.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Severability</U>.
If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this
Agreement shall remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree
shall remain in full force and effect to the extent not held invalid or unenforceable. The Parties further agree to replace such invalid
or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the purposes
of such invalid or unenforceable provision.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Amendment</U>.
This Agreement may be modified, amended or otherwise changed only in a writing signed by each of the Parties hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Expenses</U>.
Except as otherwise expressly provided herein, each of the Parties hereto shall be responsible for its own fees, costs and expenses incurred
in connection with the negotiation, execution and effectuation of this Agreement and the obligations contemplated hereby, including any
attorneys&rsquo; fees, costs and expenses incurred in connection with the negotiation and execution of this Agreement and all other activities
related to the foregoing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Successors
and Assigns</U>. The terms and conditions of this Agreement shall be binding upon and be enforceable by the Parties hereto and the respective
successors, heirs, executors, legal representatives and permitted assigns of the Parties, and inure to the benefit of any successor,
heir, executor, legal representative or permitted assign of any of the Parties.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>No
Third-Party Beneficiaries</U>. The representations, warranties and agreements of the Parties contained herein are intended solely for
the benefit of the Party hereto to whom such representations, warranties or agreements are made, and shall confer no rights, benefits,
remedies, obligations, or liabilities hereunder, whether legal or equitable, in any other Person, and no such other Person shall be entitled
to rely thereon.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Counterparts</U>.
This Agreement and any amendments hereto may be executed and delivered (including by facsimile or other means of electronic transmission,
such as by electronic mail in &ldquo;.pdf&rdquo; form) in one or more counterparts, and by the different Parties hereto in separate counterparts,
each of which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>[Remainder of page&nbsp;intentionally
blank]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 17; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">IN WITNESS WHEREOF, each of
the Parties hereto has caused this Agreement to be executed as of the date first written above by its duly authorized representative(s).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="3"><FONT STYLE="text-transform: uppercase">Braemar Hotels&nbsp;&amp; Resorts Inc.</FONT></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="2">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD></TD><TD>By:</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Richard J. Stockton</TD></TR><TR STYLE="vertical-align: top">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
                              <TD STYLE="width: 42%">Richard J. Stockton</TD></TR>
                                                                                                     <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>Title:</TD>
                              <TD>Chief Executive Officer and President</TD></TR>
                                                                                                     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="3"><FONT STYLE="text-transform: uppercase">Ashford Hospitality Trust,&nbsp;Inc.</FONT></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="2">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD></TD><TD>By:</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Alex Rose</TD></TR><TR STYLE="vertical-align: top">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
                              <TD STYLE="width: 42%">Alex Rose</TD></TR>
                                                                                                     <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>Title:</TD>
                              <TD>Executive Vice President, General Counsel and Secretary</TD></TR>
                                                                                                     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="3"><FONT STYLE="text-transform: uppercase">Ashford Inc.</FONT></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="2">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD></TD><TD>By:</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Alex Rose</TD></TR><TR STYLE="vertical-align: top">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
                              <TD STYLE="width: 42%">Alex Rose</TD></TR>
                                                                                                     <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>Title:</TD>
                              <TD>Executive Vice President, General Counsel and Secretary</TD></TR>
                                                                                                     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Signature page&nbsp;to Cooperation Agreement]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 18 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="3"><FONT STYLE="text-transform: uppercase">Blackwells Capital LLC</FONT></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="2">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD></TD><TD>By:</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Jason Aintabi</TD></TR><TR STYLE="vertical-align: top">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
                              <TD STYLE="width: 42%">Jason Aintabi</TD></TR>
                                                                                                     <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>Title:</TD>
                              <TD>Chief Investment Officer</TD></TR>
                                                                                                     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="3"><FONT STYLE="text-transform: uppercase">Blackwells Onshore I LLC</FONT></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="2">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD></TD><TD>By:</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Jason Aintabi</TD></TR><TR STYLE="vertical-align: top">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
                              <TD STYLE="width: 42%">Jason Aintabi</TD></TR>
                                                                                                     <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>Title:</TD>
                              <TD>President and Secretary</TD></TR>
                                                                                                     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="3"><FONT STYLE="text-transform: uppercase">Blackwells Holding Co. LLC</FONT></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="2">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD></TD><TD>By:</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Jason Aintabi</TD></TR><TR STYLE="vertical-align: top">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
                              <TD STYLE="width: 42%">Jason Aintabi</TD></TR>
                                                                                                     <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>Title:</TD>
                              <TD>Chief Executive Officer, President and Secretary</TD></TR>
                                                                                                     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="3"><FONT STYLE="text-transform: uppercase">Vandewater Capital Holdings, LLC</FONT></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="2">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD></TD><TD>By:</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Jason Aintabi</TD></TR><TR STYLE="vertical-align: top">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
                              <TD STYLE="width: 42%">Jason Aintabi</TD></TR>
                                                                                                     <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>Title:</TD>
                              <TD>President and Secretary</TD></TR>
                                                                                                     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="3"><FONT STYLE="text-transform: uppercase">Blackwells Asset Management LLC</FONT></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="2">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD></TD><TD>By:</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Jason Aintabi</TD></TR><TR STYLE="vertical-align: top">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
                              <TD STYLE="width: 42%">Jason Aintabi</TD></TR>
                                                                                                     <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>Title:</TD>
                              <TD>Chief Executive Officer, President and Secretary</TD></TR>
                                                                                                     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 19 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="3"><FONT STYLE="text-transform: uppercase">BW Coinvest Management I LLC</FONT></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="2">&nbsp;</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD></TD><TD>By:</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Jason Aintabi</TD></TR><TR STYLE="vertical-align: top">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD><TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
                              <TD STYLE="width: 42%">Jason Aintabi</TD></TR>
                                                                                                     <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>Title:</TD>
                              <TD>President and Secretary</TD></TR>
                                                                                                     <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
                              <TD>&nbsp;</TD></TR>
                                                                                                     <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD COLSPAN="3"><FONT STYLE="text-transform: uppercase">Jason Aintabi</FONT></TD></TR>
                                                                                                     <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
                              <TD>&nbsp;</TD></TR>
                                                                                                     <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Jason Aintabi</TD></TR>
                                                                                                     </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 20 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>EXHIBIT&nbsp;A</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>UNITED
STATES DISTRICT COURT<BR>
FOR THE NORTHERN DISTRICT OF TEXAS<BR>
</B></FONT><B>DALLAS DIVISION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 61%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">BRAEMAR HOTELS&nbsp;&amp; RESORTS INC.,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in">Plaintiff,</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">v.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">B<FONT STYLE="text-transform: uppercase">LACKWELLS CAPITAL LLC,
    ET AL.,</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in">Defendants.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in">&nbsp;</P></TD>
    <TD STYLE="width: 39%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Civil Action No.&nbsp;3:24-cv-707-L</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Consolidated with:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">Civil Action No.&nbsp;3:24-cv-894-L</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><U>JOINT
STIPULATION OF VOLUNTARY DISMISSAL</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to Fed. R. Civ.
P. 41(a)(1)(A)(ii), all parties to this consolidated action, Braemar Hotels&nbsp;&amp; Resorts Inc., Blackwells Capital LLC, Blackwells
Onshore I, LLC, Blackwells Holding Co. LLC, Vandewater Capital Holdings, LLC, Blackwells Asset Management LLC, BW Coinvest Management
I LLC, Jason Aintabi, Michael Cricenti, Jennifer M. Hill, Betsy L. McCoy, Steven J. Pully, and Montgomery J. Bennett, Stefani Danielle
Carter, Richard J. Stockton, Kenneth H. Fearn,&nbsp;Jr., Abteen Vaziri, Mary Candace Evans, Matthew D. Rinaldi, and Rebeca Odino-Johnson
(together &ldquo;the parties&rdquo;), file this Joint Stipulation of Voluntary Dismissal and hereby stipulate and agree that all claims,
counterclaims, and third party claims asserted by all parties shall be dismissed with prejudice. The parties have separately agreed to
the allocation of costs and attorney fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated: _________, 2024</FONT></TD><TD STYLE="width: 2%; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify; width: 49%">Respectfully
                                            submitted,</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">M. Scott Barnard</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>AKIN GUMP STRAUSS HAUER&nbsp;&amp; FELD LLP</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Texas Bar
                                            No.&nbsp;24001690</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Tabitha Kempf</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Texas Bar No.&nbsp;24139777</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 21; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2300 N. Field
    Street</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">VINSON&nbsp;&amp;
    ELKINS LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ste. 1800</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dallas, TX 75201</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Telephone: 214-969-4299</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Robert Ritchie</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Facsimile: 214-969-4343</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Texas Bar No.&nbsp;24079213</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: sbarnard@akingump.com&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">K. Virginia Burke DeBeer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: tkempf@akingump.com</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Texas Bar No.&nbsp;24097437</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2001 Ross Avenue</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CADWALADER WICKERSHAM&nbsp;&amp;
    TAFT LLP, Of Counsel</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dallas, TX 75201</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Telephone: (214) 220-7823</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adam K. Magid (Admitted
    <I>Pro Hac Vice</I>)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Facsimile: (214) 999-7823</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York Bar No.&nbsp;4652202</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: rritchie@velaw.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Samuel G. Mann (Admitted
    <I>Pro Hac Vice</I>)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: vdebeer@velaw.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York Bar No.&nbsp;5233036<BR>
    Sanders Keyes Gilmer (Admitted <I>Pro Hac Vice</I>)<BR>
    D.C. Bar No.&nbsp;90019265<BR>
    200 Liberty Street<BR>
    New York, NY 10281<BR>
    Telephone: (212) 504-6000<BR>
    Facsimile: (212) 406-6666<BR>
    Email: adam.magid@cwt.com<BR>
    Email: samuel.mann@cwt.com<BR>
    Email: keyes.gilmer@cwt.com&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Attorneys for Defendant/Counter Plaintiff/Third Party Plaintiff Blackwells Capital LLC and Defendants Blackwells Onshore I, LLC, Blackwells Holding Co. LLC, Vandewater Capital Holdings, LLC, Blackwells Asset Management LLC, BW Coinvest Management I LLC, Jason Aintabi, Michael Cricenti, Jennifer M. Hill, Betsy L. McCoy, and Steven J. Pully</I></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Attorneys for Plaintiff/Counter
    Defendant Braemar Hotels&nbsp;&amp; Resorts Inc. and Third Party Defendants Montgomery J. Bennett, Stefani Danielle Carter, Richard
    J. Stockton, Kenneth H. Fearn,&nbsp;Jr., Abteen Vaziri, Mary Candace Evans, Matthew D. Rinaldi, and Rebeca Odino-Johnson</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>EXHIBIT&nbsp;B</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 23; Options: NewSection Last; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>tm2418611d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B><I>Execution Version</I></B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SHARE OWNERSHIP AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">This SHARE OWNERSHIP AGREEMENT
(this &ldquo;<U>Agreement</U>&rdquo;), dated as of July&nbsp;2, 2024, is made and entered into by and among Braemar Hotels&nbsp;&amp;
Resorts Inc., a Maryland corporation (&ldquo;<U>Braemar</U>&rdquo;), Ashford Hospitality Trust,&nbsp;Inc., a Maryland corporation (&ldquo;<U>AHT</U>&rdquo;),
Ashford Inc., a Nevada corporation and the advisor to Braemar and AHT (&ldquo;<U>AINC</U>&rdquo;, and together with Braemar, AHT and each
of AINC&rsquo;s, Braemar&rsquo;s and AHT&rsquo;s respective Affiliates (as defined below) (including, for the avoidance of doubt, Stirling
Hotels and Resorts,&nbsp;Inc.) and any entity advised currently or in the future by AINC, collectively, the &ldquo;<U>Company Group</U>&rdquo;),
Blackwells Capital LLC, a Delaware limited liability company (&ldquo;<U>Blackwells Capital</U>&rdquo;), Blackwells Onshore I LLC, a Delaware
limited liability company (&ldquo;<U>Blackwells Onshore</U>&rdquo;), Blackwells Holding Co. LLC, a Delaware limited liability company
(&ldquo;<U>Blackwells Holding</U>&rdquo;), Vandewater Capital Holdings, LLC, a Delaware limited liability company (&ldquo;<U>Vandewater</U>&rdquo;),
Blackwells Asset Management LLC, a Delaware limited liability company (&ldquo;<U>Blackwells Asset Management</U>&rdquo;), BW Coinvest
Management I LLC, a Delaware limited liability company (&ldquo;<U>BW Coinvest</U>&rdquo;), and Jason Aintabi (collectively, with Blackwells
Capital, Blackwells Onshore, Blackwells Holding, Vandewater, Blackwells Asset Management, BW Coinvest, the &ldquo;<U>Blackwells Parties</U>&rdquo;
and, each of the members of the Company Group and the Blackwells Parties a &ldquo;<U>Party</U>&rdquo; to this Agreement and collectively,
the &ldquo;<U>Parties</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, certain of the Blackwells
Parties (i)&nbsp;submitted a notice to Braemar on March&nbsp;10, 2024 purporting to nominate four director candidates to be elected to
the board of directors of Braemar and make certain other proposals (the &ldquo;<U>Nomination Notice</U>&rdquo;) at Braemar&rsquo;s 2024
Annual Meeting of Stockholders and (ii)&nbsp;filed with the Securities and Exchange Commission (&ldquo;<U>Commission</U>&rdquo; or &ldquo;<U>SEC</U>&rdquo;)
on April&nbsp;3, 2024 a definitive proxy statement on Schedule 14A (the &ldquo;<U>Blackwells Braemar Proxy Statement</U>&rdquo;) to solicit
proxies from stockholders of Braemar to vote in favor of the Blackwells Parties&rsquo; director nominees and such proposals;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, Braemar and Blackwells
Capital and certain of their respective related parties are parties in a consolidated action pending in the U.S. District Court for the
Northern District of Texas captioned <I>Braemar Hotels&nbsp;&amp; Resorts Inc. v. Blackwells Capital LLC, Blackwells Onshore I, LLC, Blackwells
Holding Co. LLC, Vandewater Capital Holdings, LLC, Blackwells Asset Management LLC, BW Coinvest Management I LLC, Jason Aintabi, Michael
Cricenti, Jennifer M. Hill, Betsy L. McCoy, and Steven J. Pully v. Braemar Hotels&nbsp;&amp; Resorts Inc.; Montgomery J. Bennett; Stefani
Danielle Carter; Richard J. Stockton; Kenneth H. Fearn,&nbsp;Jr.; Abteen Vaziri; Mary Candace Evans; Matthew D. Rinaldi; Rebeca Odino-Johnson,
and Stefani Carter</I>, Civil Action No.&nbsp;3:24-CV-707-L (Consolidated with 3:24-CV-894-L) (N.D. Tex.) (the &ldquo;<U>Consolidated
Litigation</U>&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, pursuant to that certain
Cooperation Agreement dated as of the date of this Agreement and entered into by and among the Parties (the &ldquo;<U>Cooperation Agreement</U>&rdquo;),
(i)&nbsp;the Blackwell Parties have agreed to withdraw the Nomination Notice and the Blackwells Braemar Proxy Statement and (ii)&nbsp;the
Parties have agreed to settle the Consolidated Litigation and enter into the agreements set forth in the Cooperation Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">NOW, THEREFORE, in consideration
of the foregoing premises and the mutual covenants and agreements contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><U>Loan and Purchase; Related
Agreements</U>.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">On
the date of this Agreement (the &ldquo;<U>Purchase Period Start Date</U>&rdquo;) Blackwells Capital or its Affiliate (as such term is
defined in Rule&nbsp;12b-2 promulgated by the Commission under the Securities Exchange Act of 1934, as amended (the &ldquo;<U>Exchange
Act</U>&rdquo;)) shall execute the form of Loan Agreement (the &ldquo;<U>Loan Agreement</U>&rdquo;) set forth as <U>Exhibit&nbsp;A</U>,
pursuant to which Braemar shall loan funds to Blackwells Capital or its Affiliate pursuant to the terms set forth in the Loan Agreement.
The proceeds of the loans evidenced by the Loan Agreement shall be used exclusively by Blackwells Capital for the purpose set forth in
<U>Section&nbsp;1(b)</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">During
the six-month period commencing upon the Purchase Period Start Date (the &ldquo;<U>Purchase Period</U>&rdquo;) and subject to <U>Section&nbsp;1(c)</U>,
Blackwells Capital or its Affiliate shall purchase a total of 3,500,000 shares of Braemar common stock during the Purchase Period
(collectively, the &ldquo;<U>Purchased Shares</U>&rdquo;); <U>provided that</U> (i)&nbsp;Blackwells Capital or its Affiliate shall
have no obligation to make such purchases if Braemar has not extended funds to Blackwells Capital or its Affiliates as required
pursuant to the terms of the Loan Agreement, (ii)&nbsp;Blackwells Capital and its Affiliates shall not purchase shares of Braemar
common stock at a purchase price in excess of $10.00 per share, (iii) with respect to any trading day during the Purchase Period,
Blackwells Capital and its Affiliates shall not purchase a number of shares of Braemar stock in excess of 25% of the average daily
trading volume reported for the Braemar common stock during the four calendar weeks preceding the week in which such purchase is to
be effected (&ldquo;ADTV Limit&rdquo;) (provided that once each week, in lieu of purchasing under the ADTV Limit for any trading day
and otherwise within the limitations set for in subsection (b)(4) of Rule 10b-18 promulgated by the Commission under the Exchange
Act (&ldquo;Rule 10b-18&rdquo;), Blackwells Capital or its Affiliate shall be entitled to effectuate one Block (as such term is
defined in clause (a)(5) of Rule 10b-18) purchase) and (iv)&nbsp;the obligation to purchase the Purchased Shares shall terminate
upon the consummation of a Company Sale. For the avoidance of doubt, Blackwells Capital or its Affiliate shall not be obligated to purchase during the Purchase Period an aggregate
number of shares of Braemar common stock in excess of the sum of (A) 25% of the aggregate number of shares of Braemar common stock traded
during the Purchase Period and (B) any shares of Braemar common stock purchased pursuant to Block purchases permitted pursuant to the
proviso to Section 1(b)(iii). Blackwells Capital or its Affiliate shall provide to Braemar, on a monthly basis during the
Purchase Period, reasonable evidence of its compliance with this <U>Section&nbsp;1(b)</U>. For purposes of this Agreement,
 &ldquo;<U>Company Sale</U>&rdquo; means any merger, reorganization, business combination or consolidation of Braemar with or into
another company, other than a merger, reorganization, business combination or consolidation which would result in the holders of the
voting securities of Braemar outstanding immediately prior thereto holding securities which represent immediately after such merger,
reorganization, business combination or consolidation more than 50% of the combined voting power of the voting securities of the
surviving company of such merger, reorganization, business combination or consolidation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Loan Agreement shall be unsecured and non-recourse to Blackwells Capital and its Affiliate; <U>however</U>, each Guarantor (as such term
is defined in the Loan Agreement) shall absolutely, irrevocably and unconditionally guarantee payment of the Obligations (as such term
is defined in the Loan Agreement) in full when due, as further set forth in the Loan Agreement and subject to the limitations set forth
therein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Concurrently
upon execution of this Agreement, Braemar shall reimburse Blackwells Capital or its designated Affiliate, in the amount previously agreed
by the Parties and in accordance with wire instructions provided to Braemar prior to the date hereof by Blackwells Capital or its designated
Affiliate, for the Blackwells Parties&rsquo; reasonable due diligence expenses incurred on or prior to the date of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">2.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Representations
and Warranties of Members of the Company Group.</U> Each member of the Company Group represents and warrants to the Blackwells Parties
that (a)&nbsp;such member of the Company Group has the corporate power and authority to execute this Agreement and any other documents
or agreements to be entered into in connection with this Agreement and to bind it thereto, (b)&nbsp;this Agreement has been duly and validly
authorized, executed and delivered by such member of the Company Group, and assuming due execution by each counterparty hereto, constitutes
a valid and binding obligation and agreement of such member of the Company Group, and is enforceable against such member of the Company
Group in accordance with its terms, except as enforcement thereof may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance or similar laws generally affecting the rights of creditors and subject to general equity principles
and (c)&nbsp;the execution, delivery and performance of this Agreement by such member of the Company Group does not and will not (i)&nbsp;violate
or conflict with any law, rule, regulation, order, judgment or decree applicable to such member of the Company Group, or (ii)&nbsp;result
in any breach or violation of or constitute a default (or an event which with notice or lapse of time or both would constitute such a
breach, violation or default) under or pursuant to, or result in the loss of a material benefit under, or give any right of termination,
amendment, acceleration or cancellation of, any organizational document or agreement, contract, commitment, understanding or arrangement
to which such member of the Company Group is a party or by which it is bound.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">3.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Representations
and Warranties of the Blackwells Parties</U>. Each of the Blackwells Parties represents and warrants to the members of the Company Group
that: (a)&nbsp;the authorized signatory of such party set forth under such Blackwells Party&rsquo;s name on the signature pages&nbsp;hereto
has the power and authority to execute this Agreement and any other documents or agreements to be entered into in connection with this
Agreement and to bind such Blackwells Party thereto, (b)&nbsp;this Agreement has been duly authorized, executed and delivered by such
Blackwells Party, and assuming due execution by each counterparty hereto, is a valid and binding obligation of such Blackwells Party,
enforceable against such Blackwells Party in accordance with its terms except as enforcement thereof may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance or similar laws generally affecting the rights of creditors and subject
to general equity principles, (c)&nbsp;the execution of this Agreement, the consummation of any of the transactions contemplated hereby,
and the fulfillment of the terms hereof, in each case in accordance with the terms hereof, will not conflict with, or result in a breach
or violation of the organizational documents of such Blackwells Party as currently in effect, (d)&nbsp;the execution, delivery and performance
of this Agreement by such Blackwells Party does not and will not (i)&nbsp;violate or conflict with any law, rule, regulation, order, judgment
or decree applicable to such Blackwells Party, or (ii)&nbsp;result in any breach or violation of or constitute a default (or an event
which with notice or lapse of time or both would constitute such a breach, violation or default) under or pursuant to, or result in the
loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document,
agreement, contract, commitment, understanding or arrangement to which such Blackwells Party is a party or by which it is bound, (e)&nbsp;as
of the date of this Agreement, the Blackwells Parties (i)&nbsp;are deemed to Beneficially Own 1,208,776 shares of common stock (including
250,000 shares of common stock underlying options exercisable by the Blackwells Parties on October&nbsp;18, 2024), (ii)&nbsp;do not currently
Beneficially Own any shares of Series&nbsp;E redeemable preferred stock, and (iii)&nbsp;do not currently Beneficially Own any shares of
Series&nbsp;M redeemable preferred stock of Braemar, (f)&nbsp;as of the date of this Agreement, the Blackwells Parties are deemed to Beneficially
Own 1,000 shares of common stock of AHT and (g)&nbsp;as of the date hereof, and except as set forth in clauses (e)&nbsp;and (f)&nbsp;above,
such Blackwells Parties do not currently Beneficially Own or have, and do not currently have any right to acquire, any interest in any
securities or assets of any member of the Company Group (or any rights, options or other securities convertible into or exercisable or
exchangeable (whether or not convertible, exercisable or exchangeable immediately or only after the passage of time or the occurrence
of a specified event) for such securities or assets or any obligations measured by the price or value of any securities of a member of
the Company Group, including, without limitation, any swaps or other derivative arrangements designed to produce economic benefits and
risks that correspond to the ownership of shares of common stock or any other securities of any member of the Company Group, whether or
not any of the foregoing in this&nbsp;<U>subclause (g)</U>&nbsp;would give rise to Beneficial Ownership, and whether or not to be settled
by delivery of shares of common stock or any other class or series of the securities of any member of the Company Group, payment of cash
or by other consideration, and without regard to any short position under any such contract or arrangement). As used in this <U>Section&nbsp;3</U>:
(i)&nbsp;the term &ldquo;<U>Beneficial Owner</U>&rdquo; shall have the same meaning as set forth in Rule&nbsp;13d-3 promulgated by the
Commission under the Exchange Act, except that a Person will also be deemed to beneficially own (A)&nbsp;all Securities of any member
of the Company Group which such Person has the right to acquire pursuant to the exercise of any rights in connection with any securities
or any agreement, regardless of when such rights may be exercised and whether they are conditional, and (B)&nbsp;all Securities of any
member of the Company Group in which such Person has any economic interest, including, without limitation, pursuant to a cash settled
call option or other derivative security, contract or instrument in any way related to the price of any Securities of any member of the
Company Group (and the terms &ldquo;<U>Beneficial Ownership</U>&rdquo; and &ldquo;<U>Beneficially Own</U>&rdquo; shall have a correlative
meaning); and (ii)&nbsp;the term &ldquo;<U>Securities of any member of the Company Group</U>&rdquo; shall mean any securities of any member
of the Company Group, including but not limited to the common stock, preferred stock, or any securities convertible or exchangeable into
or exercisable for any such securities or any derivatives thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">4.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Specific
Performance</U>. Each of the Blackwells Parties and the members of the Company Group acknowledge and agree that irreparable injury to
the other Parties hereto would occur in the event any of the provisions of this Agreement are not performed in accordance with their specific
terms or are otherwise breached and that such injury would not be adequately compensable by the remedies available at law (including the
payment of money damages). It is accordingly agreed that the Blackwells Parties, on the one hand, and the members of the Company Group,
on the other hand (the &ldquo;<U>Moving Party</U>&rdquo;), shall each be entitled to specific enforcement of, and injunctive relief to
prevent any violation of, the terms hereof, and each Party further agrees to waive any requirement for the security or posting of any
bond in connection with such remedy and the other Party will not take action, directly or indirectly, in opposition to the Moving Party
seeking such relief on the grounds that any other remedy or relief is available at law or in equity. This&nbsp;<U>Section&nbsp;4</U>&nbsp;is
not the exclusive remedy for any violation of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">5.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Notice</U>.
All notices, consents, determinations, waivers or other communications required or permitted to be given or made under the terms of this
Agreement must be in writing and will be deemed to have been duly delivered or made: (i)&nbsp;upon receipt, when delivered personally;
(ii)&nbsp;upon receipt, when sent by electronic mail or facsimile (<U>provided that </U>confirmation of transmission is mechanically or
electronically generated and kept on file by the sending party); or (iii)&nbsp;one (1)&nbsp;business day after deposit with a nationally
recognized overnight delivery service, in each case properly addressed to the party to receive the same. The addresses and facsimile numbers
for such communications shall be (or such other address or facsimile for a party hereto as shall be specified in a notice given in accordance
with this <U>Section&nbsp;5</U>):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0">If to a member of the Company Group,
to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0">Braemar Hotels&nbsp;&amp; Resorts Inc.<BR>
14185 Dallas Parkway Suite&nbsp;1200<BR>
Dallas, Texas 75254</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left">Attention:</TD><TD STYLE="text-align: justify">Alex Rose</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left">Facsimile No.:</TD><TD STYLE="text-align: justify">(972) 392-1929</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left">Email:</TD><TD STYLE="text-align: justify">arose@ashfordinc.com</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0">With a copy (which shall not constitute
notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0">Cadwalader, Wickersham&nbsp;&amp; Taft
LLP<BR>
200 Liberty Street<BR>
New York, NY 10281</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left">Attention:</TD><TD STYLE="text-align: justify">Richard M. Brand</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0">Gregory P. Patti,&nbsp;Jr.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left">Facsimile No.:</TD><TD STYLE="text-align: justify">(212) 504-6666</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left">Email:</TD><TD STYLE="text-align: justify">richard.brand@cwt.com</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0">greg.patti@cwt.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0">If to any of the Blackwells Parties,
to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0">c/o Blackwells Capital LLC<BR>
400 Park Avenue, 4<SUP>th</SUP>&nbsp;Floor<BR>
New York, NY 10022</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left">Attention:</TD><TD STYLE="text-align: justify">Jason Aintabi</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left">Facsimile No.:</TD><TD STYLE="text-align: justify">(212) 790-6097</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left">Email:</TD><TD STYLE="text-align: justify">jaintabi@blackwellscap.com</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0">With a copy (which shall not constitute
notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0">Vinson&nbsp;&amp; Elkins L.L.P.<BR>
1114 Avenue of the Americas, 32<SUP>nd</SUP> Floor<BR>
New York, NY 10036</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left">Attention:</TD><TD STYLE="text-align: justify">Lawrence S. Elbaum</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left">Facsimile No.:</TD><TD STYLE="text-align: justify">(917) 849-5379</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left">Email:</TD><TD STYLE="text-align: justify">lelbaum@velaw.com</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left"><FONT STYLE="font-size: 10pt">Attention:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">C. Patrick Gadson</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left"><FONT STYLE="font-size: 10pt">Facsimile No.:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(917) 849-5386</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 1in; text-align: left"><FONT STYLE="font-size: 10pt">Email:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">pgadson@velaw.com</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">6.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Governing
Law</U>. This Agreement shall be governed in all respects, including validity, interpretation, and effect, by, and construed in accordance
with, the laws of the State of Texas without giving effect to the choice of law or conflict of law principles thereof that would result
in the application of the laws of another jurisdiction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">7.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Jurisdiction</U>.
Each of the Parties irrevocably agrees that any suit, claim, action or proceeding relating to this Agreement and the rights and obligations
arising hereunder, or for recognition and enforcement of any judgment relating to this Agreement and the rights and obligations arising
hereunder brought by the other Parties hereto or their respective successors or permitted assigns, shall be brought and determined exclusively
in the federal courts of the United States located in the Northern District of Texas or, if such court does not have jurisdiction, the
Courts of the State of Texas, or any other court of competent jurisdiction located in the State of Texas. Each of the Parties hereby irrevocably
submits with regard to any such suit, claim, action or proceeding for themselves and in respect of their property, generally and unconditionally,
to the personal jurisdiction of the aforesaid courts and agrees that they will not bring any suit, claim, action or proceeding relating
to this Agreement in any court other than the aforesaid courts. Consistent with the preceding sentence, each of the Parties hereby (a)&nbsp;submits
to the exclusive jurisdiction of any federal or state court sitting in the State of Texas for the purpose of any suit, claim, action or
proceeding, directly or indirectly, relating to this Agreement brought by any Party hereto, (b)&nbsp;agrees that service of process will
be validly effected by sending notice in accordance with <U>Section&nbsp;5</U>, (c)&nbsp;irrevocably waives and releases, and agrees not
to assert by way of motion, defense, or otherwise, in or with respect to any such suit, claim, action or proceeding, whether actual or
potential, known or unknown, suspected or unsuspected, based upon past or future events, now existing or coming into existence in the
future, that (i)&nbsp;such suit, claim, action or proceeding is not subject to the subject matter jurisdiction of at least one of the
aforesaid courts, (ii)&nbsp;its property is exempt or immune from attachment or execution in the State of Texas, (iii)&nbsp;such suit,
claim, action or proceeding in such aforesaid courts is brought in an inconvenient forum, (iv)&nbsp;the venue of such suit, claim, action
or proceeding is improper, or (v)&nbsp;this Agreement or the transactions contemplated by this Agreement may not be enforced in or by
any of the aforesaid courts; and (d)&nbsp;agrees not to move to transfer any such suit, claim, action or proceeding to a court other than
any of the aforesaid courts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">8.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Waiver
of Jury Trial</U>. EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY&nbsp;ARISE UNDER THIS AGREEMENT IS LIKELY
TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY&nbsp;HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION RELATING TO THIS AGREEMENT OR
THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY TO THIS AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT (A)&nbsp;NO REPRESENTATIVE
OF ANY OTHER PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER
IN THE EVENT OF A LEGAL ACTION, (B)&nbsp;SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C)&nbsp;SUCH PARTY MAKES THIS WAIVER
VOLUNTARILY, AND (D)&nbsp;SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS <U>SECTION&nbsp;8</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">9.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Entire
Agreement</U>. This Agreement constitutes the full and entire understanding and agreement among the parties hereto with regard to the
subject matter hereof, and supersedes all prior and contemporaneous agreements, understandings and representations, whether oral or written,
of the parties hereto with respect to the subject matter hereof. There are no restrictions, agreements, promises, representations, warranties,
covenants or undertakings, oral or written, between the parties other than those expressly set forth herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">10.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Headings</U>.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">11.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Waiver</U>.
No failure on the part of any party hereto to exercise, and no delay in exercising, any right, power or remedy hereunder shall operate
as a waiver thereof, nor shall any single or partial exercise of such right, power or remedy by such party preclude any other or further
exercise thereof or the exercise of any other right, power or remedy.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">12.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Remedies</U>.
All remedies hereunder are cumulative and are not exclusive of any other remedies provided by law or equity.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">13.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Construction</U>.
When a reference is made in this Agreement to a Section, such reference shall be to a Section&nbsp;of this Agreement, unless otherwise
indicated. Whenever the words &ldquo;include,&rdquo; &ldquo;includes&rdquo; and &ldquo;including&rdquo; are used in this Agreement, they
shall be deemed to be followed by the words &ldquo;without limitation.&rdquo; All references to a &ldquo;day&rdquo; or &ldquo;days&rdquo;
(other than references to &ldquo;business days&rdquo;) are to calendar days. The words &ldquo;hereof,&rdquo; &ldquo;herein&rdquo; and
 &ldquo;hereunder&rdquo; and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any
particular provision of this Agreement. References to a person are also to its successors and permitted assigns. The word &ldquo;will&rdquo;
shall be construed to have the same meaning as the word &ldquo;shall.&rdquo; The words &ldquo;dates hereof&rdquo; will refer to the date
of this Agreement. The word &ldquo;or&rdquo; is not exclusive. The definitions contained in this Agreement are applicable to the singular
as well as the plural forms of such terms. Any agreement, instrument, law, rule&nbsp;or statute defined or referred to herein means, unless
otherwise indicated, such agreement, instrument, law, rule&nbsp;or statute as from time to time amended, modified, supplemented or replaced.
All references in this Agreement to &ldquo;$,&rdquo; USD or Dollars shall refer to United States dollars, unless otherwise specified.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">14.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Severability</U>.
If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this
Agreement shall remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree
shall remain in full force and effect to the extent not held invalid or unenforceable. The Parties further agree to replace such invalid
or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the purposes
of such invalid or unenforceable provision.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">15.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Amendment</U>.
This Agreement may be modified, amended or otherwise changed only in a writing signed by each of the Parties hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">16.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Expenses</U>.
Except as otherwise expressly provided herein, each of the Parties hereto shall be responsible for its own fees, costs and expenses incurred
in connection with the negotiation, execution and effectuation of this Agreement and the obligations contemplated hereby, including any
attorneys&rsquo; fees, costs and expenses incurred in connection with the negotiation and execution of this Agreement and all other activities
related to the foregoing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">17.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Successors
and Assigns</U>. The terms and conditions of this Agreement shall be binding upon and be enforceable by the Parties hereto and the respective
successors, heirs, executors, legal representatives and permitted assigns of the Parties, and inure to the benefit of any successor, heir,
executor, legal representative or permitted assign of any of the Parties.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">18.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>No
Third-Party Beneficiaries</U>. The representations, warranties and agreements of the Parties contained herein are intended solely for
the benefit of the Party hereto to whom such representations, warranties or agreements are made, and shall confer no rights, benefits,
remedies, obligations, or liabilities hereunder, whether legal or equitable, in any other Person, and no other Person shall be entitled
to rely thereon.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">19.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Counterparts</U>.
This Agreement and any amendments hereto may be executed and delivered (including by facsimile or other means of electronic transmission,
such as by electronic mail in &ldquo;.pdf&rdquo; form) in one or more counterparts, and by the different Parties hereto in separate counterparts,
each of which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>[Remainder of page&nbsp;intentionally
blank]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">IN WITNESS WHEREOF, each of
the Parties hereto has caused this Agreement to be executed as of the date first written above by its duly authorized representative(s).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Braemar Hotels&nbsp;&amp; Resorts Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Richard J. Stockton</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Richard J. Stockton</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Chief Executive Officer and President</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Ashford Hospitality Trust,&nbsp;Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Alex Rose</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Alex Rose</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Executive Vice President, General Counsel and Secretary</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Ashford Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Alex Rose</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Alex Rose</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Executive Vice President, General Counsel and Secretary</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Signature page to Share Ownership Agreement]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Blackwells Capital LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Jason Aintabi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Jason Aintabi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Chief Investment Officer</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Blackwells Onshore I LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Jason Aintabi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Jason Aintabi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: President and Secretary</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Blackwells Holding Co. LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Jason Aintabi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Jason Aintabi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Chief Executive Officer, President and Secretary</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Vandewater Capital Holdings, LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Jason Aintabi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Jason Aintabi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: President and Secretary</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Blackwells Asset Management LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Jason Aintabi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Jason Aintabi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Chief Executive Officer, President and Secretary</FONT></TD></TR>

</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Signature page to Share Ownership Agreement]</I></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">BW Coinvest Management I LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Jason Aintabi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Jason Aintabi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: President and Secretary</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">Jason Aintabi</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Jason Aintabi</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Signature page to Share Ownership Agreement]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Exhibit&nbsp;A</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 11; Options: NewSection Last; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>tm2418611d1_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="text-align: right; margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.3</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: right; font: 7pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><B><I>Execution Version</I></B></FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Loan Agreement</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This loan agreement (including all terms, schedules,
annexes, supplements and exhibits attached hereto, as may be amended, restated, supplemented or otherwise modified from time to time,
this &ldquo;<B>Agreement</B>&rdquo;) is entered into between BW Coinvest Management I LLC, a Delaware limited liability company (&ldquo;<B>Borrower</B>&rdquo;),
Jason Aintabi, an individual residing at 721 Fifth Avenue Apt. 58LMH, New York, NY 10002, Vandewater Capital Holdings, LLC, Blackwells
Holding Co. LLC, and Blackwells Asset Management LLC (each a &ldquo;<B>Guarantor</B>&rdquo; and together with Borrower, the &ldquo;<B>Loan
Parties</B>&rdquo; and each a &ldquo;<B>Loan Party</B>) and Braemar Hospitality Limited Partnership, a Delaware limited partnership (&ldquo;<B>Lender</B>&rdquo;),
and establishes the terms and conditions that will govern the delayed draw term loan facility made available to Borrower by Lender. Except
as otherwise specified, capitalized terms are defined in Section&nbsp;19.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;1: The Loan</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the terms and conditions hereof, Lender
will make a Loan (as defined below) in one or more advances thereof as provided for herein (each an &ldquo;<B>Advance</B>&rdquo; and,
collectively, the &ldquo;<B>Advances</B>&rdquo;) to Borrower.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;2: Amount and Terms of Advances</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(A)&nbsp;<U>Advances</U>. Upon the terms and
conditions set forth in this Agreement and in reliance upon the representations and warranties of the Loan Parties herein set forth,
the Lender agrees to make a single loan (the &ldquo;<B>Loan</B>&rdquo;) to Borrower in U.S. Dollars (&ldquo;<B>USD</B>&rdquo; or &ldquo;<B>Dollars</B>&rdquo;)
comprised of all Advances made to Borrower on and after the Closing Date and prior to the Commitment Termination Date in an aggregate
principal amount not to exceed the Commitment; <I>provided </I>that in no event may the aggregate principal amount of any Advance made
hereunder exceed the amount permitted to be borrowed by Borrower under Applicable Law <I>provided</I>, further, that no Advance shall
be made to reimburse Borrower for more than 3,500,000 Shares purchased in the aggregate following the Closing Date. On the date of each
Advance, the Lender&rsquo;s Commitment shall be automatically reduced by the principal amount of such Advance. The Commitment will be
automatically reduced to zero on the Commitment Termination Date. Advances that are repaid or prepaid may not be reborrowed.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(B)&nbsp;<U>Notice of Drawdown</U>. In order
to request an Advance, Borrower shall deliver to Lender an advance notice in substantially the form of Exhibit&nbsp;A (Advance Notice)
(an &ldquo;<B>Advance Notice</B>&rdquo;), which notice shall be received by Lender no later than 2:00 p.m.&nbsp;New York City time, three
(3)&nbsp;Business Days preceding the date of such proposed Advance (each such date, a &ldquo;<B>Drawdown Date</B>&rdquo;). Each Drawdown
Date must be a Business Day. Each Advance shall be for an amount that is at least $100,000.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(C)&nbsp;<U>Interest.</U> Borrower shall pay
Lender interest on the outstanding principal amount of each Advance, at a rate per annum equal to the Applicable Interest Rate for the
Interest Period therefor. Such amount of interest shall be computed by Lender based on a year of three hundred sixty (360) days and actual
days elapsed in the relevant Interest Period. Borrower shall pay any unpaid interest accrued on each Advance in arrears on each Interest
Payment Date. Unless Borrower provides Lender with written notice no later than three (3)&nbsp;Business Days prior to the applicable
Interest Payment Date informing Lender that Borrower will pay all interest due on such Interest Payment Date in cash, interest shall
be paid in kind on each Interest Payment Date by capitalizing the amount thereof and adding such amount to the outstanding principal
amount of such Advance on and as of such date (the payment by the Borrower of interest in kind, instead of in cash, the &ldquo;<B>PIK
Amount</B>&rdquo;) (which amount shall automatically constitute a part of the outstanding principal amount of such Advance for all purposes
hereof (including the accrual of interest thereon at the rates applicable to such Advance generally) and shall constitute part of the
 &ldquo;<B>Loan</B>&rdquo;).</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(D)&nbsp;<U>Benchmark Successor Rate</U>.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(i)&nbsp;<U>Benchmark&nbsp;Replacement</U>. Notwithstanding
anything to the contrary herein or in any other Contract, if a Benchmark Transition Event and its related Benchmark Replacement Date
have occurred prior to any setting of the then-current Benchmark, then (x)&nbsp;if a Benchmark Replacement is determined in accordance
with clause (x)&nbsp;of the definition of &ldquo;Benchmark Replacement&rdquo; for such Benchmark Replacement Date, such Benchmark Replacement
will replace such Benchmark for all purposes hereunder and under any Contract in respect of such Benchmark setting and subsequent Benchmark
settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Contract, and (y)&nbsp;if
a Benchmark Replacement is determined in accordance with clause (y)&nbsp;of the definition of &ldquo;Benchmark Replacement&rdquo; for
such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Contract
in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any
other party to, this Agreement or any other Contract. In the event any Benchmark Replacement is implemented, interest shall continue
to be payable (in cash or in kind, as otherwise applicable under this Agreement) on a quarterly basis.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(ii)&nbsp;<U>Benchmark Replacement Conforming
Changes</U>. In connection with the use, administration, adoption or implementation of a Benchmark Replacement, Lender and Borrower shall
mutually endeavor in good faith to make Conforming Changes from time to time.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(iii)&nbsp;<U>Notices; Standards for Decisions
and Determinations</U>. Lender will promptly notify Borrower of (i)&nbsp;the implementation of any Benchmark Replacement and (ii)&nbsp;the
effectiveness of any Conforming Changes in connection with the use, administration, adoption or implementation of a Benchmark Replacement.
Lender will promptly notify Borrower of the removal or reinstatement of any tenor of a Benchmark pursuant to Section&nbsp;2(D)(iv)&nbsp;(Unavailability
of Tenor of Benchmark) and the commencement of any Benchmark Unavailability Period. Any determination, decision or election that may
be made by Lender pursuant to this Section&nbsp;2(D)&nbsp;(Benchmark Successor Rate), including any determination with respect to a tenor,
rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from
taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion
and without consent from any other party to this Agreement or any other Contract, except, in each case, as expressly required pursuant
to this Section&nbsp;2(D)&nbsp;(Benchmark Successor Rate).</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(iv)&nbsp;<U>Unavailability of Tenor of Benchmark</U>.
Notwithstanding anything to the contrary herein or in any other Contract, at any time (including in connection with the implementation
of a Benchmark Replacement), (i)&nbsp;if the then-current Benchmark is a term rate (including Term SOFR) and either (A)&nbsp;any tenor
for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time and utilized
for such purposes by commercial banks engaged in syndicated or bilateral business lending or (B)&nbsp;the regulatory supervisor for the
administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark
is not or will not be representative, then Lender and the Borrower shall mutually endeavor in good faith to modify the definition of
 &ldquo;Interest Period&rdquo; (or any similar or analogous definition) for any Benchmark settings at or after such time to remove such
unavailable or non-representative tenor and (ii)&nbsp;if a tenor that was removed pursuant to clause (i)&nbsp;above either (A)&nbsp;is
subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B)&nbsp;is not, or
is no longer, subject to an announcement that it is not or will not be representative for a Benchmark (including a Benchmark Replacement),
then Lender may modify the definition of &ldquo;Interest Period&rdquo; (or any similar or analogous definition) for all Benchmark settings
at or after such time to reinstate such previously removed tenor.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(v)&nbsp;<U>Benchmark Unavailability Period</U>.
Upon Borrower&rsquo;s receipt of notice of the commencement of a Benchmark Unavailability Period, interest on each outstanding affected
Advance during any Benchmark Unavailability Period shall accrue daily at a rate per annum equal to the Federal Funds Rate <I>plus</I>
0.50% (50 basis points) <I>plus</I> the Spread.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(vi)&nbsp;<U>Rates</U>. Lender does not warrant
or accept responsibility for, and shall not have any liability with respect to (a)&nbsp;the continuation of, administration of, submission
of, calculation of or any other matter related to the Federal Funds Rate, the Benchmark, or any component definition thereof or rates
referred to in the definition thereof, or any alternative, successor or replacement rate thereto (including any Benchmark Replacement),
including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark
Replacement) will be similar to, or produce the same value or economic equivalence of, or have the same volume or liquidity as, the Federal
Funds Rate, the Benchmark or any other Benchmark prior to its discontinuance or unavailability, or (b)&nbsp;the effect, implementation
or composition of any Conforming Changes. Lender and Borrower shall mutually and in good faith select and agree upon information sources
or services in their reasonable discretion to ascertain the Federal Funds Rate or the Benchmark, in each case pursuant to the terms of
this Agreement; provided Lender shall have no liability to Borrower or any other person or entity for damages of any kind, including
direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise
and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information
source or service.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(E)&nbsp;<U>Conditions to Effectiveness of this
Agreement.</U> The effectiveness of this Agreement is conditioned upon receipt by Lender of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">i.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">From
each party to a Contract either (1)&nbsp;a counterpart to each Contract signed on behalf of such party or (2)&nbsp;written evidence satisfactory
to Lender (which may include scanned or facsimile copies of a signature page&nbsp;of each Contract) that such party has signed a counterpart
of such Contract;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">ii.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">A
certificate from a Responsible Officer of each Loan Party in form and substance satisfactory to Lender and dated as of the Closing Date
certifying and attaching copies of, to the extent applicable to such Loan Party, (i)&nbsp;a certificate of incumbency bearing the names,
titles and specimen signatures of the Responsible Officers who are authorized to execute and take actions under the Contracts (including
Advance Notices) for and on behalf of each Loan Party, (ii)&nbsp;resolutions authorizing the transactions contemplated hereby, (iii)&nbsp;each
Loan Party&rsquo;s current certificate or articles of incorporation, certificate or articles of formation or organization, or other applicable
agreement evidencing formation, as then in effect and (iv)&nbsp;such documents relating to the incorporation, valid existence and good
standing of each Loan Party;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">iii.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Copies
of lien, judgment, litigation, tax and bankruptcy searches on Borrower and each Guarantor in all appropriate jurisdictions;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">iv.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">receipt
of a legal opinion in a form and substance reasonably satisfactory to the Lender dated as of the date hereof;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">v.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Borrower
shall have provided to Lender the documentation and other information so requested in connection with applicable &ldquo;know your Borrower&rdquo;
and anti-money laundering rules&nbsp;and regulations, including, without limitation, the PATRIOT ACT; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">vi.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">receipt
of a customary credit check for Jason Aintabi.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the satisfaction of the foregoing conditions
in this Section&nbsp;2(E), Lender shall deliver to Borrower a certificate of effectiveness, substantially in the form attached as Exhibit&nbsp;B
hereof, notifying Borrower that the Closing Date has occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(F)&nbsp;<U>Conditions to Drawdown of Advances.
</U>Borrower acknowledges and agrees that Lender shall not be obligated to fund any Advance to Borrower, unless the following requirements
have been satisfied:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">i.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Borrower
shall have delivered to Lender a duly executed Advance Notice to Lender and in accordance with the requirements hereof;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">ii.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">At
the time of and immediately after giving effect to the Advance, the representations and warranties of Borrower and the other Loan Parties
contained herein or in any Contract shall be true and correct in all material respects (without duplicating any materiality qualifiers
therein);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">iii.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">At
the time of and immediately after giving effect to the Advance no Event of Default has occurred and is continuing or would result from
such Advance;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">iv.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Such
Advance does not violate any law, regulation, order, writ, judgment, injunction, determination or decree of any governmental authority,
applicable to Borrower;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">v.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Evidence
of the purchase and cost basis of Shares for which the Advances shall be used to reimburse Borrower in form and substance reasonably
satisfactory to Lender;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">vi.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Advance requested does not exceed 70% of the purchase price (and for the avoidance of doubt, excluding any brokerage fees, and other
fees and expenses incurred in connection with acquiring the Shares other than commissions thereon in an amount not to exceed $0.02 per
Share) of the Shares sought to be reimbursed; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-size: 10pt">vii.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">At
the time of and immediately after giving effect to the Advance, the Cooperation Agreement and the Share Ownership Agreement are each
in full force and effect and no default of any kind has occurred thereunder as a result of any act or omission by any Loan Party or any
affiliate thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(G)&nbsp;<U>Early Repayment</U>. Borrower may
repay all or a portion of the Advances hereunder on any Business Day upon no less than one (1)&nbsp;Business Days&rsquo; prior notice
to Lender without additional premium or penalty (for the avoidance of doubt, subject to Section&nbsp;5(A)&nbsp;and Section&nbsp;6(B)&nbsp;if
such payment is made on a date that is not an Interest Payment Date); <I>provided that</I> any such repayment shall be in a minimum amount
of $1,000,000 for the first prepayment and a minimum of $500,000 for each prepayment thereafter (or such smaller amount as Lender may
agree in its sole discretion).</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(H)&nbsp;<U>Maturity</U>. Borrower will repay
to Lender all outstanding Advances (together with any PIK Amount) together with accrued and unpaid interest thereon and all fees and
other amounts payable hereunder on&nbsp;July&nbsp;2, 2029 (the &ldquo;<B>Maturity Date</B>&rdquo;).</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;3: Corporate Events.</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(A)&nbsp;In the event that Issuer undertakes,
enters into, or is the subject of, a merger, a tender offer, a stock split, or any similar analogous event, Lender reserves the right
to amend the terms of this Agreement (as determined by Lender acting in good faith and a commercially reasonable manner) as of the date
of such event to account for the economic effect on the Shares of such event (provided that no adjustments will be made to account solely
for changes in the expected dividends relevant to the Shares) by written notice to Borrower.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;4: Credit Protection.</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(A)&nbsp;<U>Mandatory Repayment</U>. In the event
that Borrower breaches the covenant set out in Section&nbsp;7(O)&nbsp;of this Agreement, the outstanding principal amount of the Loan
(including any PIK Amount) shall become immediately due and payable in accordance with the terms hereof unless waived in writing by Lender.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(B)&nbsp;<U>Power of Attorney</U>. Borrower irrevocably
authorizes and appoints Lender as its attorney-in-fact (with full power of substitution and delegation), on its behalf and in its name
or otherwise, to do all acts so long as any Event of Default has occurred and is continuing, as may be required for the full exercise
of the rights and remedies set forth in Section&nbsp;9 hereof.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;5: Other Fees and Costs.</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(A)&nbsp;<U>Other Fees and Costs</U>. Each party
shall be responsible for their own out of pocket expenses incurred, including the reasonable fees, charges and disbursements of counsel,
in connection with the preparation and negotiation of this Agreement and the other Contracts. Borrower shall be responsible for all out
of pocket expenses incurred by Lender (other than in connection with the preparation and negotiation of this Agreement), including the
fees, charges and disbursements of any counsel for Lender, in connection with the enforcement or protection of its rights in connection
with this Agreement and the Contracts including in connection with any workout, restructuring or negotiations in respect thereof, and
all costs, expenses, and Transfer Taxes. Borrower shall reimburse Lender for any such expenses hereunder promptly and in any event within
30 days. Upon Lender&rsquo;s demand from time to time, Borrower shall promptly compensate for and hold Lender harmless from any loss,
cost or expense incurred by it (exclusive of losses attributable to the Spread) as a result of (i)&nbsp;any payment or prepayment of
any Advance on a day other than an Interest Payment Date (whether voluntary, mandatory, automatic, by reason of acceleration, early prepayment
or otherwise) and (ii)&nbsp;any failure by Borrower (for a reason other than the failure of Lender to make an Advance) to borrow or prepay
any Advance on the date or in the amount notified by Borrower in accordance with this Agreement, including any loss of anticipated profits
for the Interest Period in which the failure to borrow or prepay actually occurred and any loss or expense arising from the liquidation
or reemployment of funds obtained by it to maintain such Advance or from fees payable to terminate the deposits from which such funds
were obtained. A certificate of Lender as to the amount of such losses, costs and expenses, submitted to Borrower and showing in reasonable
detail the basis for the calculation thereof, shall be conclusive as to the amount of such losses, costs and expenses, absent manifest
error.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;6: Taxes.</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(A)&nbsp;<U>Transfer Taxes</U>. Borrower shall
pay any and all present or future stamp or documentary taxes, charges or similar levies imposed by any governmental authority arising
from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement and any
other Contract, except any such taxes that are imposed with respect to an Assignment (&ldquo;<B>Transfer Taxes</B>&rdquo;).</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(B)&nbsp;<U>Other Taxes</U>. All money payable
(including fees payable pursuant to Section&nbsp;5) deliverable by Borrower to Lender under any Contract shall be paid or delivered,
as applicable, free and clear of, and without withholding or deduction for, any Taxes, unless the withholding or deduction of such Taxes
is required by Applicable Law. If any Taxes are required by Applicable Law to be withheld or deducted from any payment to Lender (or
its successor or assignee), Borrower shall pay such additional amounts as necessary to result in Lender receiving the same amount of
money as it would have if no such Taxes had been required to be withheld or deducted (including deductions or withholdings applicable
to additional sums payable under this Section&nbsp;6(B)); <I>provided</I>, <I>however</I>, that Borrower shall not be required to pay
such additional amounts on account of (a)&nbsp;Taxes imposed on or measured by Lender&rsquo;s net income (however denominated), franchise
taxes, and branch profits taxes, in each case, (i)&nbsp;that are imposed by a jurisdiction where Lender is organized, where it maintains
its principal office or where it maintains its applicable lending office with respect to the Advances or (ii)&nbsp;that are Other Connection
Taxes, (b)&nbsp;U.S. federal withholding Taxes imposed on amounts payable to or for the account of Lender (or its successor or assignee)
pursuant to a law in effect on the date on which (i)&nbsp;Lender (or its successor or assignee) acquired such interest in the Advance
or becomes a party to the applicable Contract or (ii)&nbsp;Lender (or its successor or assignee) changes its lending office, (c)&nbsp;Taxes
attributable to Lender&rsquo;s failure to comply with Section&nbsp;12(A)&nbsp;hereof and (d)&nbsp;any U.S. federal withholding Taxes
imposed under FATCA.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(C)&nbsp;<U>Lender Authorized to Withhold</U>.
Lender is authorized to withhold Taxes from any payment or transfer made hereunder and remit such Taxes to the relevant taxing authorities
to the extent required by law, and shall not pay any additional amounts in respect of any withheld amounts.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(D)&nbsp;Borrower shall deliver to the Lender
on or prior to the date hereof (and from time to time thereafter upon reasonable request of Lender) two correct, complete and validly
executed originals of Internal Revenue Service Form&nbsp;W-9, W-8BEN-E or W-8IMY (with all required attachments), as appropriate, in
each case setting forth Borrower&rsquo;s status under Chapter 4 of the Code (&ldquo;<B>FATCA Status</B>&rdquo;) and providing Borrower&rsquo;s
Global Intermediary Identification Number (&ldquo;<B>GIIN</B>&rdquo;) and any other additional documentation reasonably requested by
Lender as may be necessary for Lender to comply with its obligations under FATCA and to otherwise confirm the FATCA Status of Borrower.
Borrower further agrees that if any form or certification it previously delivered expires, becomes obsolete or inaccurate in any respect,
it shall update such form or certification or promptly notify the Lender in writing of its legal inability to do so.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;7: Representations, Warranties,
Covenants and Agreements.</B> Each Loan Party represents, warrants, covenants and agrees, as of the date hereof, and on each date on
which an Obligation is in existence or an Advance is made, that:</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(A)&nbsp;Each Loan Party is duly incorporated
or organized and validly existing under the laws of its jurisdiction of incorporation or organization (as applicable) and has the power
and authority to own its assets and to conduct the business it conducts;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(B)&nbsp;Each Loan Party has the power and authority
to execute, deliver and perform its obligations under this Agreement and each Contract to which it is a party, and this Agreement and
each Contract to which it is a party has been duly authorized, executed and delivered by such Loan Party (and, if such Loan Party is
a partnership, by its general partner(s)&nbsp;on behalf or for the benefit of the partnership and each of its partners from time to time,
present and future), and constitutes a valid and binding agreement of such Loan Party, enforceable in accordance with its terms, subject
to applicable bankruptcy and similar laws affecting creditors&rsquo; rights and general principles of equity. The execution, delivery
and performance by each Loan Party of this Agreement and each Contract to which it is a party and the fulfillment of the Obligations
do not and will not result in a breach or violation of any Applicable Law, binding on such Loan Party or its property, or such Loan Party&rsquo;s
organizational documents, or any material contract or other instrument binding on or affecting such Loan Party or any of its property
where such breach or violation would reasonably be expected to have a Material Adverse Effect;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(C)&nbsp;No consent of, authorization or other
action by, notice to, or filing with, any governmental authority, self-regulatory organization or any other person is required that has
not already been obtained for (i)&nbsp;each Loan Party to execute, deliver and perform under this Agreement; or (ii)&nbsp;the exercise
by Lender of the rights or remedies provided for in this Agreement, other than notices, filings or actions contemplated under subparagraph
(v)&nbsp;of Section&nbsp;2(E);</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(D)&nbsp;In entering into this Agreement, each
Loan Party is not relying upon any representation, warranty or other statement of Lender whatsoever, other than express representations
or warranties that Lender has made in this Agreement, the Cooperation Agreement, or the Share Ownership Agreement. Each Loan Party (i)&nbsp;is
knowledgeable and experienced regarding any transactions that it enters into pursuant to this Agreement or any other Contract to which
it is a party, (ii)&nbsp;is capable of evaluating the terms of this Agreement and the Contracts to which it is a party, and the merits
and risks of such transactions and (iii)&nbsp;has obtained or will obtain any requisite independent advice in respect of such transactions.
Each Loan Party has determined, based on its own independent review, that the Contracts to which it is a party and the transactions contemplated
thereby are fit, proper and suitable for it and that it is capable of bearing any related economic risks;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(E)&nbsp;Each Loan Party acknowledges and agrees
that it shall not receive, and has not received, any advice (investment, legal, regulatory, tax, accounting or otherwise) from Lender
in connection with this Agreement or any Contract or any transaction hereunder or thereunder, and no communication shall be construed
as such advice. If Lender undertakes to provide any advice or opinions from time to time, Lender will not be obligated to provide further
advice or opinions on an ongoing basis. Notwithstanding any of its rights and duties under this Agreement, nothing in this Agreement
shall make Lender a manager or adviser in respect of any securities or cash and Lender is not required to abide by any particular investment
objectives, policies, guidelines or restrictions of any Loan Party. Lender will not be subject to any fiduciary duties towards any Loan
Party and will not incur any duty of disclosure towards any Loan Party or be subject to any restriction in dealing for Lender&rsquo;s
own account or that of its Borrowers by reason of any services provided to any Loan Party pursuant to this Agreement or any Contract;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(F)&nbsp;At all times each of the Loan Parties
has been, is, and will be, in compliance with Applicable Law other than any failure to so comply that would not reasonably be expected
to have a Material Adverse Effect. No legal or governmental proceedings or investigations are pending or threatened to which any Loan
Party or any Related Person is a party or to which any property of any Loan Party or any Related Person is subject that could materially
impair any Loan Party&rsquo;s ability to perform or repay its Obligations under this Agreement or any Contract to which it is a party;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(G)&nbsp;The identification number of each Loan
Party, and the name, jurisdiction of incorporation, type of organization, place of business (if it has only one place of business) or
chief executive office (if it has more than one place of business) of each of each Loan Party, at the date of this Agreement and for
the period of five (5)&nbsp;years immediately preceding the date of this Agreement (or, if a shorter period, the period from its date
of organization or incorporation until the date of this Agreement), are, in each case, as set forth on the signature page&nbsp;hereof.
If any Loan Party is a partnership, (i)&nbsp;the partner(s)&nbsp;identified on the signature page&nbsp;of this Agreement is/are such
Loan Party&rsquo;s only general partner(s)&nbsp;and (ii)&nbsp;each Loan Party will notify Lender in writing prior to any Change in Control
Event. In addition, Borrower shall notify Lender at least twenty (20) calendar days prior to any change in the name, type of organization,
jurisdiction of incorporation, place of business (if it has, or after such change will have, only one place of business) or chief executive
office (if it has, or after such change will have, more than one place of business) of Borrower, any general partner or managing member
of Borrower (if applicable), or any change in Borrower&rsquo;s organizational identification number;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(H)&nbsp;No Loan Party, any person controlling
or controlled by any Loan Party, any person having a beneficial interest in any Loan Party, nor any person for whom any Loan Party acts
as agent or nominee in connection herewith is: (i)&nbsp;an individual or entity that is named as a Specially Designated National or Blocked
Person by the OFAC, or an individual or entity that resides, is organized or chartered, or has a place of business, in a country or territory
subject to OFAC&rsquo;s various sanctions/embargo programs; (ii)&nbsp;a resident in, or organized or chartered under the laws of: (a)&nbsp;a
jurisdiction that has been designated by the Secretary of the Treasury under Section&nbsp;311 of the USA PATRIOT Act as warranting special
measures and/or as being of primary money laundering concern or (b)&nbsp;a jurisdiction that has been designated as non-cooperative with
international anti-money laundering principles by a multinational or inter-governmental group such as the Financial Action Task Force
on Money Laundering of which the United States is a member; (iii)&nbsp;a financial institution that has been designated by the Secretary
of the Treasury under Section&nbsp;311 of the USA PATRIOT Act as warranting special measures and/or as being of primary money laundering
concern; (iv)&nbsp;a &ldquo;senior foreign political figure,&rdquo; or any &ldquo;immediate family&rdquo; member or &ldquo;close associate&rdquo;
of a senior foreign political figure, in each case within the meaning of Section&nbsp;5318(i)&nbsp;of Title 31 of the United States Code
or regulations issued thereunder; or (v)&nbsp;a prohibited &ldquo;foreign shell bank&rdquo; as defined in Section&nbsp;5318(j)&nbsp;of
Title&nbsp;31 of the United States Code or regulations issued thereunder, or a U.S. financial institution that has established, maintains,
administers or manages an account in the U.S. for, or on behalf of, a prohibited &ldquo;foreign shell bank&rdquo;;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(I)&nbsp;No Loan Party will enter into any transaction
in any way associated with this Agreement &ldquo;on the basis of&rdquo; (as defined in paragraph (b)&nbsp;of Rule&nbsp;10b5-1 under the
Securities Exchange Act of 1934 (the &ldquo;<B>Exchange Act</B>&rdquo;), as amended) any material nonpublic information concerning any
investment or issuer (or materially related to an issuer in capacities such as a sponsor) of any investment. Nothing contained in this
Section&nbsp;7(I)&nbsp;shall be deemed to prevent any Loan Party from purchasing or selling securities of an issuer when such Loan Party
may do so pursuant to one or more of the affirmative defenses available pursuant to paragraph&nbsp;(c)&nbsp;of SEC Rule&nbsp;10b5-1;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(J)&nbsp;At all times until all Obligations have
been satisfied, no Loan Party is and no Loan Party is acting on behalf of (i)&nbsp;an &ldquo;employee benefit plan&rdquo; within the
meaning of Section&nbsp;3(3)&nbsp;of the Employee Retirement Income Security Act of 1974, as amended, (&ldquo;<B>ERISA</B>&rdquo;) that
is subject to Part&nbsp;4 of Subtitle B of Title I of ERISA, (ii)&nbsp;a &ldquo;plan&rdquo; within the meaning of Section&nbsp;4975(e)(1)&nbsp;of
the Internal Revenue Code of 1986, as amended (the &ldquo;<B>Code</B>&rdquo;), to which Section&nbsp;4975 of the Code applies, (iii)&nbsp;an
entity whose underlying assets include &ldquo;plan assets&rdquo; subject to Title I of ERISA or Section&nbsp;4975 of the Code by reason
of Section&nbsp;3(42) of ERISA, U.S. Department of Labor Regulation&nbsp;29 CFR Section&nbsp;2510.3-101 or otherwise or (iv)&nbsp;a &ldquo;governmental
plan&rdquo; (as defined in ERISA or the Code) or another type of plan (or an entity whose assets are considered to include the assets
of any such governmental or other plan) that is subject to any law, rule&nbsp;or restriction that is substantively similar or of similar
effect to Section&nbsp;406 of ERISA or Section&nbsp;4975 of the Code (&ldquo;<B>Similar Law</B>&rdquo;). Except as could not reasonably
be expected to result in a material adverse effect on any Loan Party&rsquo;s ability to repay the Obligations, no Loan Party nor any
member of its &ldquo;controlled group&rdquo; or any trade or business that is under &ldquo;common control&rdquo; with such Loan Party
(each within the meaning of Section&nbsp;414 of the Code) sponsors, maintains, contributes to, or has any liability (contingent or otherwise)
with respect to any &ldquo;employee pension benefit plan&rdquo; (as defined in Section&nbsp;3(2)&nbsp;of ERISA) that is subject to Title
IV of ERISA, Section&nbsp;302 of ERISA, or Section&nbsp;412 of the Code. Each Loan Party will provide written notice to Lender if it
is aware that it is in breach of this representation and warranty or is aware that with the passing of time, giving of notice or expiry
of any applicable grace period it will be in breach of this representation and warranty; and</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(K)&nbsp;Borrower shall not use, whether directly
or indirectly, the proceeds of any Advance for purposes which would violate or be inconsistent with any provision of Regulation U or
Regulation X of the Board of Governors of the Federal Reserve System;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(L)&nbsp;Each Loan Party has timely filed or
caused to be filed all federal and other tax returns, reports and statements, including information returns, required by any governmental
authority to be filed by it, and has paid or caused to be paid all Taxes required to have been paid by it, except (a)&nbsp;Taxes that
are being contested in good faith by appropriate proceedings and for which such Loan Party has set aside on its books adequate reserves
in accordance with generally accepted accounting principles or (b)&nbsp;to the extent that the failure to file or pay could not reasonably
be expected to result in a material adverse effect. To each Loan Party&rsquo;s knowledge no claim is being asserted with respect to any
such Tax described in this Section&nbsp;7(L)&nbsp;that could reasonably be expected to result in a material adverse effect.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(M)&nbsp;Borrower will comply with the reporting
requirements of sections 13(d)&nbsp;and (g)&nbsp;and section 16 of the Exchange Act, as applicable, with respect the transactions contemplated
by this Agreement and each Contract.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(N)&nbsp;No Loan Party is required to register
as an &ldquo;investment company&rdquo; and is not a Person &ldquo;controlled by&rdquo; an &ldquo;investment company,&rdquo; as such terms
are defined in the United States Investment Company Act of 1940.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(O)&nbsp;Borrower shall use the proceeds of each
Advance solely to reimburse itself for seventy percent (70%) of the purchase price of Shares (excluding for the avoidance of doubt any
brokerage fees and other fees and expenses incurred in connection with acquiring the Shares other than commissions thereon in an amount
not to exceed $0.02 per Share) made on or after the Closing Date and prior to the Commitment Termination Date. Subject to the terms and
conditions of the Share Ownership Agreement and provided that the Lender is not at such time a Defaulting Lender, Borrower shall purchase
on the open market 3,500,000 Shares, or such lesser amount as may be required under, and in accordance with the terms of, the Share Ownership
Agreement, following the Closing Date and on or before the Commitment Termination Date.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(P)&nbsp;No Loan Party may sell, transfer (whether directly or by
dividend or distribution) or otherwise dispose of any Share unless such sale, transfer or disposition is for fair value in cash, with
the cash proceeds of any such sale, transfer or disposition to be held by the applicable Loan Party as cash or Cash Equivalents. No Loan
Party may make any dividend or distribution on account of any Capital Stock of a Person with the proceeds of any sale of the Shares.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(Q)&nbsp;As of the Closing Date, no Loan Party
has any Indebtedness of the type described in clauses (a), (b)&nbsp;or (c)&nbsp;of the definition of Indebtedness outstanding. The Borrower
and the Guarantors shall not incur Indebtedness other than the (x)&nbsp;Obligations, (y)&nbsp;Indebtedness in existence on the Closing
Date, and (z)&nbsp;any other Indebtedness so long as, after giving pro forma effect to the incurrence thereof, the Loan Parties are in
pro forma compliance with the Consolidated Net Asset Test.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(R)&nbsp;The Loan Parties shall at all times
collectively satisfy the Consolidated Net Asset Test. Within fifteen (15) days of the end of each calendar quarter, the Borrower shall
deliver a certificate, substantially in the form attached hereto as Exhibit&nbsp;C, to Lender certifying the Loan Parties have satisfied
the Consolidated Net Asset Test (and if the Loan Parties failed to satisfy such requirement, informing the Lender of such non-compliance).</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(S)&nbsp;Each Loan Party (other than Jason Aintabi)
(x)&nbsp;qualifies, and shall retain such qualification, as a qualified institutional buyer under Rule&nbsp;144A(a)(1)&nbsp; the Securities
Act of 1933 and (y)&nbsp;as of the Closing Date has no material assets other than (i)&nbsp;the Shares and (ii)&nbsp;ownership of Capital
Stock of its subsidiaries.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(T)&nbsp;Each Loan Party represents that, after
giving effect to the transactions contemplated herein:</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;the fair value of
the property of each Loan Party is greater than the total amount of liabilities, including contingent liabilities, of each such Loan
Party;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;the present fair
saleable value of each Loan Party is not less than the amount that will be required to pay the probable liability of each such Loan Party&rsquo;s
debts as they become absolute and matured;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;each Loan Party
does not intend to, and does not believe that it will, incur debts or liabilities beyond its ability to pay such debts and liabilities
as they mature; and</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;each Loan Party
is not engaged in a business or a transaction, and is not about to engage in a business or a transaction, for which its property would
constitute an unreasonably small capital.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amount of any contingent liability at any
time shall be computed as the amount that, in light of all of the facts and circumstances existing at such time, represents the amount
that can reasonably be expected to become an actual or matured liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;8: Events of Default.</B> It
shall be an &ldquo;<B>Event of Default</B>&rdquo; by Borrower if any of the following events occurs:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(A)&nbsp;Borrower breaches, repudiates, fails
to perform when due or otherwise defaults (however described) on any payment or delivery obligation under any Contract, <I>provided</I>,
<I>however</I>, that any such breach, repudiation or failure shall not be an Event of Default hereunder where (a)&nbsp;Borrower&rsquo;s
breach, repudiation or failure was, as demonstrated to the reasonable satisfaction of Lender, caused by an error or omission of an administrative
or operational nature; (b)&nbsp;funds were available to Borrower to enable it to make relevant payment or transfer when due; and (c)&nbsp;the
relevant payment or transfer is made within one (1)&nbsp;Business Day of the original due date thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(B)&nbsp;Borrower breaches, repudiates, fails
to perform or otherwise defaults on (however described) any obligation under any Contract (after giving effect to any grace period set
forth in such Contract) other than a payment or delivery Obligation covered by Section&nbsp;8(A)&nbsp;above or 8(I)&nbsp;below, <I>provided</I>,
<I>however</I>, that any such breach, repudiation or failure shall not be an Event of Default hereunder where it is curable and remedied
within ten (10)&nbsp;Business Days of the occurrence thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(C)&nbsp;Borrower breaches, repudiates, fails
to perform or otherwise defaults on (however described) any obligation under any Material Indebtedness as to which Borrower and any Loan
Party is a party (after giving effect to any grace period set forth in the applicable contract or agreement) which results in all obligations
under such contract or agreement being accelerated or otherwise becoming due before such obligations would have otherwise been due;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(D)&nbsp;Any representation, warranty or statement
by any Loan Party in any Contract or in any document delivered under or pursuant to any Contract or any Obligation is false or misleading
in any material respect (without duplicating any materiality qualifiers therein) when made or deemed made;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(E)&nbsp;Any Loan Party admits in writing its
inability, or becomes generally unable, to pay its debts as such debts become due;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(F)&nbsp;An involuntary proceeding shall be commenced
or an involuntary petition shall be filed seeking (i)&nbsp;liquidation, reorganization or other relief in respect of any Loan Party or
its debts or assets under any Debtor Relief Laws (ii)&nbsp;the appointment of a receiver, liquidator (including without limitation a
provisional liquidator), restructuring officer, administrator, trustee or similar person in respect of any Loan Party or any of its properties,
and in any such case, such proceeding or petition shall continue undismissed for sixty (60) days or an order or decree approving or ordering
any of the foregoing shall be entered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(G)&nbsp;any Loan Party seeks (i)&nbsp;relief
under any Debtor Relief Laws or (ii)&nbsp;the appointment of a receiver, liquidator (including without limitation a provisional liquidator),
restructuring officer, administrator, trustee or similar person in respect of itself or any of its properties, (iii)&nbsp;the general
assignment, arrangement or composition with or for the benefit of its creditors, (iv)&nbsp;the liquidation, winding up, termination,
administration, dissolution, restructuring or reorganization of such Loan Party or (v)&nbsp;the merger of any Loan Party with or into
any other person(s);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(H)&nbsp;a Change in Control Event occurs;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(I)&nbsp;a breach in the covenants set out in
Section&nbsp;7(O), 7(P), 7(Q), 7(R), 7(S)&nbsp;or 14(B)&nbsp;hereof; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(J)&nbsp;a material breach by any Loan Party
or an affiliate thereof under the Cooperation Agreement or the Share Ownership Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Borrower shall notify Lender immediately in writing
of the occurrence of any Event of Default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;9: Default Remedies.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If an Event of Default has occurred and is continuing,
Lender may demand immediate repayment of all outstanding Advances (including any PIK Amount), together with any unpaid accrued interest
and fees, and may, subject to Applicable Law, in whole or in part, without further notice to Borrower (i)&nbsp;determine Borrower to
be in default (however described) under any and all Contracts, (ii)&nbsp;terminate, accelerate, liquidate or close out any Loan, Commitment
and/or Contract, or take any action or step that will entitle Lender to do any of the foregoing, (iii)&nbsp;net, set off and/or recoup
any and all of the Obligations of Lender to Borrower arising under any Contract or under Applicable Law (whether matured or unmatured,
fixed or contingent, liquidated or unliquidated) against any and all Obligations of Borrower to Lender, (iv)&nbsp; exercise any and all
rights remedies under any Contract or other agreement or Applicable Law, and (v)&nbsp; take any other action permitted under any Contract,
by law or in equity to protect, preserve or enforce Lender&rsquo;s rights under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If an Event of Default has occurred and while
such is continuing, Borrower shall be liable for interest on any sum not paid when due for the period beginning on its due date and ending
on the date of its receipt by Lender, both before and after judgment, if obtained. Such interest shall be calculated from time to time
at the rate per annum ordinarily charged to Borrower plus 2% per annum. All interest payable under this Section&nbsp;9, if not paid when
due, shall be added to the overdue sum at the close of a Lender charge period and shall itself bear interest accordingly. The provisions
of this Section&nbsp;9 are exclusively for the benefit and protection of Lender and Borrower agrees that Lender has no obligation to
Borrower to take any action permitted by this Section&nbsp;9. Borrower explicitly waives any rights to challenge or dispute Lender&rsquo;s
rights hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;10: Indemnity.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Borrower agrees to indemnify and hold the Indemnified
Parties harmless from any and all losses, claims, expenses, damages and liabilities of every description (&ldquo;<B>Costs</B>&rdquo;),
including, but not limited to, reasonable attorneys&rsquo; fees and expenses (including the cost of any investigation and preparation),
judgments, fines and settlements, when and as incurred by the Indemnified Parties, arising out of or in connection with (i)&nbsp;any
of the Indemnified Parties acting in reliance on any instruction given by an Authorized Person including instructions of the nature contemplated
by Section&nbsp;11(C)&nbsp;hereof or any of the Indemnified Parties failing to follow the unlawful or unreasonable instructions of an
Authorized Person, (ii)&nbsp;Borrower&rsquo;s or its agent&rsquo;s breach of any covenant, representation, warranty or agreement in any
Contract, (iii)&nbsp;any investigation, litigation or proceeding involving Borrower or any Loan Party, in connection with any Contract
or any transactions under any Contract, (iv)&nbsp;the enforcement of its rights under any Contract or (v)&nbsp;the dissemination of information
to a third party at Borrower&rsquo;s direction. Notwithstanding the foregoing, Borrower shall not indemnify the Indemnified Parties for
Costs that are the direct result of such Indemnified Party&rsquo;s gross negligence, fraud or willful misconduct. Borrower agrees to
indemnify and hold harmless the Indemnified Parties from and against any cost, damage or loss (including, without limitation, any excise
taxes, fines, penalties, interest, profits disgorged, restitution and any related attorneys&rsquo; fees and expenses) incurred by the
Indemnified Parties as a result of the representation and warranty in Section&nbsp;7(J)&nbsp;being or becoming untrue or any breach of
ERISA, Section&nbsp;4975 of the Code or Similar Law caused by Borrower which exposes the Indemnified Parties to any cost, damage or loss
(including, without limitation, any excise taxes, fines, penalties, interest, profits disgorged, restitution and any related attorneys
fees and expenses). Section&nbsp;10 shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages,&nbsp;etc.
arising from any non-Tax claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;11: Limitation of Liability.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(A)&nbsp;<U>General</U>. Borrower agrees that
the Indemnified Parties shall have no liability with respect to any discretionary action taken hereunder that is not the direct result
of the gross negligence, fraud or willful misconduct of such Indemnified Parties. In no event shall the any Loan Party or the Indemnified
Parties be liable for indirect, punitive, consequential or similar damages.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(B)&nbsp;<U>Third Parties</U>. No Indemnified
Party shall be held liable for any acts or omissions of any third party. All transactions effected with any third party for Borrower
shall be for the account of Borrower, and no Indemnified Party shall have any responsibility to Borrower. As between Lender and Borrower,
(i)&nbsp;Lender shall have no obligation to act as Borrower&rsquo;s guarantor with respect to transactions effected by Borrower with
any third party and (ii)&nbsp;Borrower alone shall bear any loss resulting from any action taken or not taken by any such third party
(including, without limitation, the insolvency of any such party or the failure of any such party to fulfill its settlement obligations).
Borrower agrees that it is responsible and liable to each Indemnified Party for all costs, losses, claims or expenses (including reasonable
attorney&rsquo;s fees) arising out of Borrower&rsquo;s transactions with any third party and any act or omission by any such third party.
No Indemnified Party shall be held liable for any loss, liability, claim, damage or expense resulting, either directly or indirectly,
from a system which is owned by Borrower or leased from a third party with or without the knowledge or assistance of the Indemnified
Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(C)&nbsp;<U>Release of Data</U>. From time to
time, Borrower may instruct or authorize Lender in writing to release information relating to Borrower or Borrower transactions to third
parties, including, without limitation, brokers, service bureaus and other service providers. Lender shall not be held liable for any
use or misuse of such information by such third parties or any parties who receive such information, directly or indirectly, from or
through such third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(D)&nbsp;<U>Force Majeure</U>. In no event shall
Lender be held liable for damages or any loss of any kind caused, directly or indirectly, by government restrictions, exchange or market
rulings, suspension of trading, market movements, bank moratoriums, war (whether declared or undeclared), terrorist acts, insurrection,
riots, fires, flooding, strikes, failure of utility services, accidents, adverse weather or other events of nature, including but not
limited to earthquakes, hurricanes and tornadoes, or other events or conditions beyond Lender&rsquo;s control or reasonable anticipation.
Lender shall not be liable to Borrower for any loss, liability, claim, damage or expense resulting, either directly or indirectly, from
any communications network, data processing system, or computer system which Lender uses or which is used by Borrower, whether Lender
owns it or not, being rendered inoperable in whole or in part, or from any error or delay in any such network or system, except to the
extent caused by the gross negligence or willful misconduct of Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;12: Information and Advice.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(A)&nbsp;<U>Tax Documents</U>. Lender shall deliver
to Borrower on or prior to the date such Lender becomes a Lender under this Agreement (and from time to time thereafter upon reasonable
request of Borrower) two correct, complete and validly executed originals of Internal Revenue Service Form&nbsp;W-9 and any other additional
documentation reasonably requested by Borrower as may be necessary for Borrower to comply with its obligations under FATCA and to otherwise
confirm the FATCA Status of Lender. Lender shall, upon reasonable request, promptly deliver to Borrower any other form, document, tax
receipt or other documentation or information required by Applicable Law or that Borrower may reasonably request relating to taxation
or revenue collection. Lender further agrees that if any form or certification it previously delivered expires, becomes obsolete or inaccurate
in any respect, it shall update such form or certification or promptly notify Borrower in writing of its legal inability to do so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(B)&nbsp;<U>Advice</U>. Borrower acknowledges
that Lender is not acting as a fiduciary or as an adviser to Borrower in respect of any Contract or any transaction it may undertake
and no communication from Lender (including, but not limited to, information provided under Section&nbsp;13 shall be construed as an
undertaking to act in such a capacity. If Lender provides any advice or opinions from time to time, Borrower agrees that it shall not
rely on any such advice or opinion in making any investment or other decisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(C)&nbsp;<U>Information and Compliance</U>. Lender
does not guarantee or warrant the accuracy, reliability or timeliness of any information that Lender may provide or make available to
Borrower from time to time (nor are they under any obligation to provide any such information or services). With respect to financial
instruments and assets discussed in any such information, Lender may, without restriction, take positions for their own account, execute
transactions for others, and may provide related investment banking and other services to others. Borrower agrees that it is solely responsible
for monitoring compliance with its own internal restrictions and procedures governing investments, trading limits and manner of authorizing
investments, and with Applicable Law affecting its authority and ability to trade and invest and Lender shall not have any obligation
to assess whether a Contract or transaction is appropriate or legal for Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;13: Notices and Statements.</B>
Except as otherwise provided herein, Borrower and Lender may from time to time issue notices and other communications. Each notice shall
be directed, if to Lender, to such of its representative(s)&nbsp;in writing as set forth below or as may be notified by Lender from time
to time, and if to Borrower, to such of its representative(s)&nbsp;as set forth below or as may be notified to Lender in writing from
time to time. Each written communication under this Agreement shall be either mailed, e-mailed, or delivered to the addresses specified
below or as otherwise specified by a party as permitted herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All communications sent to Borrower, whether
by mail, e-mail, messenger or otherwise, are deemed given to Borrower personally as of the date received.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If to Lender:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Braemar Hotels&nbsp;&amp;
Resorts Inc.<BR>
14185 Dallas Parkway Suite&nbsp;1200<BR>
Dallas, Texas 75254</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.75in; text-align: left">Attention:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Alex Rose</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Email:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">arose@ashfordinc.com</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">with a copy (which shall not constitute notice) to:</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Cadwalader, Wickersham&nbsp;&amp;
Taft LLP<BR>
200 Liberty Street<BR>
New York, NY 10281<BR>
Attention:</FONT>&#9;&#8239;&#8239;&#8239;&#8239;&nbsp;<FONT STYLE="font-size: 10pt">Richard M. Brand<BR>
</FONT>&#9;&#8239;&#8239;&#8239;&#8239;&nbsp;<FONT STYLE="font-size: 10pt">Gregory P. Patti,&nbsp;Jr.<BR>
Email:</FONT>&#9;&#8239;&#8239;&#8239;&#8239;&nbsp;<FONT STYLE="font-size: 10pt">richard.brand@cwt.com<BR>
</FONT>&#9;&#8239;&#8239;&#8239;&#8239;&nbsp;<FONT STYLE="font-size: 10pt">greg.patti@cwt.com</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If to any Loan Party:</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Blackwells Capital LLC<BR>
400 Park Avenue, 4<SUP>th</SUP>&nbsp;Floor<BR>
New York, NY 10022</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 0.25in">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.75in">Attention:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Jason Aintabi</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Email:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><U>jaintabi@blackwellscap.com</U></TD></TR>
  </TABLE>


<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">with a copy (which shall not constitute notice) to:</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Vinson&nbsp;&amp; Elkins
L.L.P<BR>
1114 Avenue of the Americas, 32<SUP>nd</SUP> Floor<BR>
New York, NY 10036</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.75in; text-align: left">Attention:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Lawrence S. Elbaum</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Email:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><U>lelbaum@velaw.com</U></TD></TR>
  </TABLE>


<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;14: Termination; Assignment;
Amendment.</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(A)&nbsp;<U>Termination</U>. Upon prior written
notice to Lender, Borrower may repay the Loan in whole (together with all accrued and unpaid interest thereon (including any PIK Amount)
and all fees payable hereunder) at any time without additional premium or penalty (other than any amounts payable pursuant to Section&nbsp;5(A))
and, following such repayment and the termination of all Commitments on the Commitment Termination Date, terminate this Agreement. Notwithstanding
the foregoing, all provisions of (i)&nbsp;this Agreement shall remain in full force and effect with respect to any non-contingent Obligations
that remain outstanding and have been asserted in writing (together, the &ldquo;<B>Outstanding Liabilities</B>&rdquo;) until such Outstanding
Liabilities have been satisfied in full and (ii)&nbsp;the Cooperation Agreement and Share Ownership Agreement shall remain in full force
and effect in accordance with their respective terms. Sections 5(A), 10, 11, 15(H), 16 and 17 shall survive termination of this Agreement.
The provisions of this Section&nbsp;14 are intended to vary and supplement the provisions of any other Contract and where there is a
conflict or inconsistency between the provisions of such Contract and this Agreement, the provisions of this Agreement shall prevail.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>(B)&nbsp;Assignment</U>. Lender may at any
time assign or transfer all or part of its rights and/or obligations under this Agreement or any Contract at its discretion (i)&nbsp;to
any of its affiliates with the prior consent of Borrower (not to be unreasonably withheld, conditioned or delayed) or (ii)&nbsp;to any
party following the occurrence and during the continuance of an Event of Default. Any reference in this Agreement to Lender shall also
include its successors and permitted transferees or assigns. Borrower may not assign its rights or any interest under any Contract without
the prior written consent of Lender. Any attempted assignment by either party in violation of this Agreement shall be null, void and
without effect. Any permitted assignee of a party&rsquo;s rights and obligations hereunder in accordance with the terms hereof shall
become vested with all the benefits and obligations in respect of the assigning party. Lender may disclose this Agreement to any potential
assignee or transferee (i)&nbsp;without Borrower&rsquo;s consent where the assignment or transfer thereof would not require Borrower&rsquo;s
consent or (ii)&nbsp;otherwise with Borrower&rsquo;s consent.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>(C)&nbsp;Amendment</U>. Any amendment shall
be by mutual written consent of Borrower and Lender and neither such party may otherwise modify this Agreement without the other such
party&rsquo;s written consent.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;15: Miscellaneous.</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(A)&nbsp;<U>Borrower Instructions</U>. Borrower
authorizes Lender to act upon any instructions, notices, demands or requests (whether oral or written, delivered by mail or electronically)
which Lender reasonably believes to have been given by an Authorized Person. Lender shall not be liable for any action taken or not taken
in good faith pursuant to such instructions, notices, demands or requests.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(B)&nbsp;<U>No Waiver; Cumulative Rights</U>.
No waiver of any provision of this Agreement shall be deemed to have occurred by the failure or delay by Lender to exercise any right
or remedy. The single or partial exercise of any such right or remedy will not preclude any other or further exercise thereof or the
exercise of any other right or remedy. The authority to debit and charge and the right of set-off and other rights and remedies provided
in this Agreement are separate, independent and cumulative and not exclusive of any rights or remedies (including any other security,
right of set-off, lien, right to combine or consolidate accounts or similar right) to which Lender is at any time entitled anywhere,
whether by operation of law or otherwise.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(C)&nbsp;<U>Severability</U>. If any provision
of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, the legality, validity
or enforceability of the remaining provisions of this Agreement and of such provisions under the law of any other jurisdiction shall
not be affected or impaired.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(D)&nbsp;<U>Construction</U>. This Agreement,
together with the Cooperation Agreement and the Share Ownership Agreement, supersedes all prior agreements as to matters within its scope.
Except to the extent provided in any other agreement between Lender and Borrower that specifically refers to this Agreement and states
that it is intended to supersede this Agreement, the terms of this Agreement shall prevail if there is any conflict or inconsistency
between this Agreement and any other Contract. All references to Sections are to Sections in or to this Agreement unless otherwise specified.
The words &ldquo;hereof,&rdquo; &ldquo;herein,&rdquo; and &ldquo;hereunder&rdquo; and words of similar import when used in this Agreement
shall refer to this Agreement as a whole and not to any particular provision of this Agreement. All references to time herein are to
time in New York City.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(E)&nbsp;<U>Additional Bankruptcy Matters</U>.
The parties acknowledge that each Contract is a &ldquo;securities contract&rdquo; within the meaning of Title&nbsp;11 of the United States
Code (the &ldquo;<B>Bankruptcy Code</B>&rdquo;) and that each delivery, transfer, payment and grant of a security interest made or required
to be made by, contemplated by, or contemplated in connection with, any Contract is a &ldquo;transfer&rdquo; and a &ldquo;margin payment&rdquo;
or a &ldquo;settlement payment&rdquo; within the meaning of Sections&nbsp;362(b)(6)&nbsp;and Sections&nbsp;546(e)&nbsp;of the Bankruptcy
Code. The parties further acknowledge that this Agreement is a &ldquo;master netting agreement&rdquo; within the meaning of the Bankruptcy
Code.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(F)&nbsp;<U>Third Party Beneficiaries</U>. Nothing
in this Agreement shall create, or be deemed to create, any third-party beneficiary rights in any person or entity other than the Indemnified
Parties.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(G)&nbsp;<U>Execution in Counterparts</U>. This
Agreement may be executed in any number of counterparts, each of which will be an original, but all of which will together constitute
one and the same instrument.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(H)&nbsp;Borrower shall not use the name of Lender
without Lender&rsquo;s written consent, including without limitation in any advertisement, publication or offering material.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(I)&nbsp;<U>Confidentiality</U>. The confidentiality
provisions of the Share Ownership Agreement are incorporated herein <I>mutatis muntandis</I>.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;16: Governing Law.</B> THE LAWS
OF THE STATE OF TEXAS WITHOUT REGARD TO ITS CONFLICT OF LAWS PRINCIPLES SHALL GOVERN THIS AGREEMENT,&nbsp;ITS ENFORCEMENT, AND EACH TRANSACTION
ENTERED INTO UNDER, OR CONTEMPLATED BY, AND ALL MATTERS ARISING IN CONNECTION WITH, THIS AGREEMENT OR ANY CONTRACT (UNLESS EXPRESSLY
PROVIDED TO THE CONTRARY THEREIN), AND ANY DISPUTE BETWEEN LENDER AND BORROWER, WHETHER ARISING OUT OF OR RELATING TO THIS AGREEMENT,
ANY CONTRACT, ANY TRANSACTION OR OTHERWISE.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;17: Litigation in Court; Sovereign
Immunity; Service.</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(A)&nbsp;ANY LITIGATION BETWEEN BORROWER AND
LENDER OR INVOLVING THEIR RESPECTIVE PROPERTIES MUST BE INSTITUTED IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF TEXAS
OR,&nbsp;IF SUCH COURT DOES NOT HAVE JURISDICTION, THE COURTS OF THE STATE OF TEXAS, OR ANY OTHER COURT OF COMPETENT JURISDICTION LOCATED
IN THE STATE OF TEXAS. EACH PARTY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION,&nbsp;INCLUDING
ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF <I>FORUM NON CONVENIENS</I>, WHICH IT MAY&nbsp;NOW OR HEREAFTER HAVE
TO THE BRINGING OF ANY SUCH ACTION OR PROCEEDING IN SUCH RESPECTIVE JURISDICTIONS. EACH PARTY AGREES THAT A JUDGMENT IN ANY SUCH DISPUTE
MAY&nbsp;BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR AS OTHERWISE PROVIDED BY LAW. TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY CLAIM, ACTION, PROCEEDING OR COUNTERCLAIM, OR OTHER LEGAL ACTION IS
WAIVED BY ALL PARTIES TO THIS AGREEMENT.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(B)&nbsp;EACH PARTY HERETO, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW,&nbsp;IRREVOCABLY WAIVES WITH RESPECT TO ITSELF AND ITS REVENUES AND ASSETS (IRRESPECTIVE OF THEIR USE OR
INTENDED USE) ALL IMMUNITY ON THE GROUNDS OF SOVEREIGNTY OR SIMILAR GROUNDS FROM (I)&nbsp;SUIT, (II)&nbsp;JURISDICTION OF ANY COURT,
(III)&nbsp;RELIEF BY WAY OF INJUNCTION, ORDER FOR SPECIFIC PERFORMANCE, OR RECOVERY OF PROPERTY, (IV)&nbsp;ATTACHMENT OF ITS ASSETS (WHETHER
BEFORE OR AFTER JUDGMENT) AND (V)&nbsp;EXECUTION OR ENFORCEMENT OF ANY JUDGMENT TO WHICH IT OR ITS REVENUES OR ASSETS MIGHT OTHERWISE
BE ENTITLED IN ANY ACTIONS OR PROCEEDINGS IN SUCH COURTS, AND IRREVOCABLY AGREES THAT IT WILL NOT CLAIM SUCH IMMUNITY IN ANY SUCH ACTIONS
OR PROCEEDINGS.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(C)&nbsp;BORROWER CONSENTS TO PROCESS BEING SERVED
BY LENDER ON BORROWER IN ANY SUIT, ACTION OR PROCEEDING OF THE NATURE SPECIFIED IN THIS SECTION&nbsp;18 ABOVE BY THE MAILING OF A COPY
THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO BORROWER AT THE ADDRESS SET FORTH IN SECTION&nbsp;14; SUCH SERVICE SHALL
BE DEEMED COMPLETED AND EFFECTIVE AS FROM THIRTY (30) CALENDAR DAYS AFTER SUCH MAILING, OR THE EARLIER OF (1)&nbsp;THE DATE RECEIVED
BY BORROWER AND (2)&nbsp;SUCH EARLIER TIME SPECIFIED BY APPLICABLE LAW. NOTHING CONTAINED HEREIN SHALL AFFECT THE RIGHT TO SERVE PROCESS
AS OTHERWISE PERMUTED BY LAW.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;18: Guaranty</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(A)&nbsp;<U>Guaranty of Payment</U>. Each Guarantor
hereby absolutely, irrevocably and unconditionally, on a joint and several basis, guarantees to Lender the immediate payment upon demand
of the Obligations in full when due (whether at stated maturity, as a mandatory prepayment, by acceleration or otherwise) and the timely&rdquo;
performance of all other obligations under this Agreement and the other Contracts in an amount not to exceed in the aggregate for all
Guarantors the Maximum Liability Cap. The guaranty in this Section&nbsp;18 (this &ldquo;<B>Guaranty</B>&rdquo;) is a guaranty of payment
and not of collection and is a continuing guaranty and shall apply to all of the Obligations whenever arising. Notwithstanding any provision
to the contrary contained herein or in any of the other Contracts, to the extent the obligations of any Guarantor shall be adjudicated
to be invalid or unenforceable for any reason (including, without limitation, because of any applicable state or federal law relating
to fraudulent conveyances or transfers) then the obligations of such Guarantor hereunder shall be limited to the maximum amount that
is permissible under applicable law (whether federal or state or otherwise and including, without limitation, Debtor Relief Laws).</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(B)&nbsp;<U>Obligations Unconditional</U>. Subject
to the Maximum Liability Cap, the obligations of each Guarantor hereunder are absolute and unconditional, irrespective of the value,
genuineness, validity, regularity or enforceability of any of the Contracts or any other agreement or instrument referred to therein,
to the fullest extent permitted by Applicable Law, irrespective of any other circumstance whatsoever which might otherwise constitute
a legal or equitable discharge or defense, each of which are hereby waived. Each Guarantor agrees that this Guaranty may be enforced
by Lender without the necessity at any time of resorting to or exhausting any other security or collateral and without the necessity
at any time of having recourse to Borrower or any other party under the other Contracts or any collateral, if any, hereafter securing
the Obligations or otherwise and each Guarantor hereby waives the right to require Lender to make demand on or proceed against Borrower
or any other Person (including any other guarantor or co-guarantor) or to require Lender to pursue any other remedy or enforce any other
right; provided however any such recovery from the Borrower, its assets or any other source shall reduce the Maximum Liability Cap by
such amount. Each Guarantor further agrees that nothing contained herein shall prevent Lender from suing on any of the Contracts or from
exercising any other rights available to it or them, as applicable, under this Agreement, any other of the Contracts, and the exercise
of any of the aforesaid rights shall not constitute a discharge of such Guarantor&rsquo;s obligations hereunder except to the extent
of Obligations paid in cash pursuant thereto. Each Guarantor&rsquo;s obligations under this Guaranty and any remedy for the enforcement
thereof shall not be impaired, modified, changed or released in any manner whatsoever by an impairment, modification, change, release,
increase or limitation of the liability of any Loan Party (other than payment in full of the Obligations in cash) or by reason of the
bankruptcy or insolvency of any Loan Party. Each Guarantor waives any and all notice of the creation, renewal, extension or accrual of
any of the Obligations and notice of or proof of reliance by Lender on this Guaranty or acceptance of this Guaranty. The Obligations,
and any part of them, shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended, amended or waived,
in reliance upon this Guaranty. All dealings between any Loan Party, on the one hand, and Lender, on the other hand, likewise shall be
conclusively presumed to have been had or consummated in reliance upon this Guaranty.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(C)&nbsp;<U>Modifications</U>. Each Guarantor
agrees that: (a)&nbsp;Lender shall not have any obligation to protect, perfect, secure or insure any such security interests, liens or
encumbrances now or hereafter held, if any, for the Obligations; (b)&nbsp;the time or place of payment of the Obligations may be changed
or extended, in whole or in part, to a time certain or otherwise, and may be renewed or accelerated, in whole or in part; (c)&nbsp;any
Loan Party and any other party liable for payment under the Contracts may be granted indulgences generally; (d)&nbsp;any of the provisions
of any of the Contracts, including, without limitation, this Agreement (except for this Section&nbsp;18) may be modified, amended or
waived; (e)&nbsp;any party (including any other guarantor or co-guarantor) liable for the payment thereof may be granted indulgences
or be released; and (f)&nbsp;any deposit balance for the credit of any Loan Party or any other party liable for the payment of the Obligations
or liable upon any security therefor may be released, in whole or in part, at, before or after the stated, extended or accelerated maturity
of the Obligations, all without notice to or further assent by such Guarantor and that each Guarantor shall remain bound thereon, notwithstanding
any such exchange, compromise, surrender, extension, renewal, acceleration, modification, indulgence or release.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(D)&nbsp;<U>Waiver of Rights</U>. Each Guarantor
expressly waives to the fullest extent permitted by applicable law: (a)&nbsp;notice of acceptance of this Guaranty by Lender and of all
extensions of credit to any Loan Party by Lender; (b)&nbsp;presentment and demand for payment or performance of any of the Obligations;
(c)&nbsp;protest and notice of dishonor or of default (except as specifically required in this Agreement) with respect to the Obligations
or with respect to any security therefor; and (d)&nbsp;all other notices to which each Guarantor might otherwise be entitled.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(E)&nbsp;<U>Reinstatement</U>. Notwithstanding
anything contained in this Agreement or the other Contracts, the obligations of any Guarantor under this Section&nbsp;18 shall be automatically
reinstated if and to the extent that for any reason any payment by or on behalf of any Person in respect of the Obligations is rescinded
or must be otherwise restored by any holder of any of the Obligations, whether as a result of any proceedings in bankruptcy or reorganization
or otherwise.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(F)&nbsp;<U>Remedies</U>. Each Guarantor agrees
that, as between such Guarantor on the one hand, and Lender, on the other hand, the Obligations may be declared to be forthwith due and
payable as provided in Section&nbsp;9 notwithstanding any stay, injunction or other prohibition preventing such declaration (or preventing
such Obligations from becoming automatically due and payable) as against any other Person and that, in the event of such declaration
(or such Obligations being deemed to have become automatically due and payable), such Obligations (whether or not due and payable by
any other Person) shall forthwith become due and payable by each Guarantor. Without limiting the foregoing, the Loan Parties agree that
each of the Loan Parties shall, after an exercise of remedies hereunder, take, and comply with, such instructions or direction from Lender
or its nominee as are reasonably necessary to allow Lender to fully exercise its rights hereunder or under any other Contract.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(G)&nbsp;<U>Subrogation</U>. Each Guarantor agrees
that, until the indefeasible payment of the Obligations in full in cash (other than any part of the Obligations that represent contractual
indemnities which are contingent in nature) and the termination of the Contracts, it will not exercise, and hereby waives, any right
of reimbursement, subrogation, contribution, offset, indemnitee or other claims against any Loan Party, any other guarantor or co-guarantor
of the Obligations, arising by contract or operation of law in connection with any payment made or required to be made by such Guarantor
under this Agreement or the other Contracts. After the indefeasible payment in full in cash of the Obligations (other than any part of
the Obligations that represents contingent contractual indemnities) and the termination of the Contracts, each Guarantor shall be entitled
to exercise against any other Loan Party all such rights of reimbursement, subrogation, contribution, indemnification and offset, and
all such other claims, to the fullest extent permitted by law.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;19: Defined Terms.</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Applicable Interest Rate</U></I>&rdquo;
means Benchmark plus the Spread.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Applicable Law</U></I>&rdquo; means
all applicable laws, rules&nbsp;and regulations of any Governmental Authority, including common law, and any amendments and supplements
thereto, including, without limitation, those of all U.S. and non-U.S. federal, state and local governmental authorities. For the avoidance
of doubt, Applicable Law includes FATCA.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Attributable Indebtedness</U></I>&rdquo;
means, on any date of determination, (a)&nbsp;in respect of any Capital Lease of any Person, the capitalized amount thereof that would
appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b)&nbsp;in respect of any Synthetic Lease,
the capitalized amount or principal amount of the remaining lease payments under the relevant lease that would appear on a balance sheet
of such Person prepared as of such date in accordance with GAAP if such lease were accounted for as a Capital Lease.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Authorized Person</U></I>&rdquo;
means a person authorized by Borrower to give instructions to Lender, and a person that Lender reasonably believes to have been so authorized,
including Related Persons, until Lender receives and acknowledges written notice from Borrower of the unauthorized status of such person.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Available Tenor</U></I>&rdquo; means,
as of any date of determination and with respect to the then-current Benchmark, as applicable, (x)&nbsp;if such Benchmark is a term rate,
any tenor for such Benchmark (or component thereof) that is or may be used for determining the length of an interest period pursuant
to this Agreement or (y)&nbsp;otherwise, any payment period for interest calculated with reference to such Benchmark (or component thereof)
that is or may be used for determining any frequency of making payments of interest calculated with reference to such Benchmark, in each
case, as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition
of &ldquo;Interest Period&rdquo; pursuant to Section&nbsp;2(D)(iv)&nbsp;(Unavailability of Tenor of Benchmark).</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Benchmark</U></I>&rdquo; means,
initially, with respect to any Advance, Term SOFR; <U>provided</U> that, if a Benchmark Transition Event has occurred with respect to
Term SOFR or the then-current Benchmark, then &ldquo;Benchmark&rdquo; means the applicable Benchmark Replacement to the extent that such
Benchmark Replacement has replaced such prior benchmark rate pursuant to Section&nbsp;2(D)(i)&nbsp;(Benchmark Replacement); <U>provided
further</U> that, if the relevant Benchmark for any reason temporarily cannot be determined pursuant to the definition thereof (in any
such case, the &ldquo;<B>Temporary Unavailability Period</B>&rdquo;), then the Benchmark shall mean, with respect to the relevant Advances
and the Temporary Unavailability Period, the Federal Funds Rate <I>plus</I> 0.50% (50 basis points) <I>plus</I> the Spread.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Benchmark Replacement</U></I>&rdquo;
means with respect to any Benchmark Transition Event, the first alternative set forth in the order below that can be determined for the
applicable Benchmark Replacement Date:</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(x)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Daily
Simple SOFR; and</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(y)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
sum of: (a)&nbsp;the alternate benchmark rate that has been selected by Lender and Borrower giving due consideration to (i)&nbsp;any
selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental
Body or (ii)&nbsp;any evolving or then-prevailing market convention for determining a benchmark rate as a replacement to the then-current
Benchmark for Dollar-denominated syndicated or bilateral credit facilities and (b)&nbsp;the related Benchmark Replacement Adjustment;</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>provided</U> that, if such Benchmark Replacement
as so determined pursuant to clause (x)&nbsp;or clause (y)&nbsp;of this definition would be less than the Floor, such Benchmark Replacement
will be deemed to be the Floor for the purposes of this Agreement and the other Contracts.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Benchmark Replacement Adjustmen</U></I><U>t</U>&rdquo;
means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement, the spread adjustment,
or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected
by Lender and Borrower giving due consideration to (a)&nbsp;any selection or recommendation of a spread adjustment, or method for calculating
or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by
the Relevant Governmental Body or (b)&nbsp;any evolving or then-prevailing market convention for determining a spread adjustment, or
method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark
Replacement for Dollar-denominated syndicated or bilateral credit facilities.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Benchmark Replacement Date</U></I>&rdquo;
means the earliest to occur of the following events with respect to the then-current Benchmark:</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">in
the case of clause (a)&nbsp;or (b)&nbsp;of the definition of &ldquo;Benchmark Transition Event,&rdquo; the later of (i)&nbsp;the date
of the public statement or publication of information referenced therein and (ii)&nbsp;the date on which the administrator of such Benchmark
(or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such
Benchmark (or such component thereof); or</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">in
the case of clause (c)&nbsp;of the definition of &ldquo;Benchmark Transition Event,&rdquo; the first date on which such Benchmark (or
the published component used in the calculation thereof) has been determined and announced by the regulatory supervisor for the administrator
of such Benchmark (or such component thereof) to be non-representative; <U>provided</U> that such non-representativeness will be determined
by reference to the most recent statement or publication referenced in such clause (c)&nbsp;and even if any Available Tenor of such Benchmark
(or such component thereof) continues to be provided on such date.</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the avoidance of doubt, the &ldquo;Benchmark
Replacement Date&rdquo; will be deemed to have occurred in the case of clause (a)&nbsp;or (b)&nbsp;with respect to any Benchmark upon
the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark
(or the published component used in the calculation thereof).</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Benchmark Transition Event</U></I>&rdquo;
means the occurrence of one or more of the following events with respect to the then-current Benchmark:</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">a
public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used
in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark
(or such component thereof), permanently or indefinitely; <U>provided</U> that, at the time of such statement or publication, there is
no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">a
public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published
component used in the calculation thereof), the Relevant Governmental Body, an insolvency official with jurisdiction over the administrator
for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component)
or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component),
which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of
such Benchmark (or such component thereof) permanently or indefinitely; <U>provided</U> that, at the time of such statement or publication,
there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);
or</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">a
public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published
component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are not,
or as of a specified future date will not be, representative.</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the avoidance of doubt, a &ldquo;Benchmark
Transition Event&rdquo; will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information
set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in
the calculation thereof).</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Benchmark Unavailability Period</U></I>&rdquo;
means, the period (if any) (a)&nbsp;beginning at the time that a Benchmark Replacement Date has occurred if, at such time, no Benchmark
Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Contract in accordance with Section&nbsp;2(D)&nbsp;(Benchmark
Successor Rate) and (b)&nbsp;ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes
hereunder and under any Contract in accordance with Section&nbsp;2(D)&nbsp;(Benchmark Successor Rate).</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Business Day</U></I>&rdquo; shall
mean a date on which banks are open in New York City.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Capital Lease</U></I>&rdquo; means
any lease of any property by any Person or any of its subsidiaries, as lessee, that should, in accordance with GAAP, be classified and
accounted for as a capital lease or financing lease on a consolidated balance sheet of such Person and its subsidiaries.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Capital Stock</U></I>&rdquo; means
(a)&nbsp;in the case of a corporation, capital stock, (b)&nbsp;in the case of an association or business entity, any and all shares,
interests, participations, rights or other equivalents (however designated) of capital stock, (c)&nbsp;in the case of a partnership,
partnership interests (whether general or limited), (d)&nbsp;in the case of a limited liability company, membership interests, (e)&nbsp;any
other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions
of assets of, the issuing Person and (f)&nbsp;any and all warrants, rights or options to purchase any of the foregoing.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Cash Equivalent</U></I>&rdquo; means
collectively, (a)&nbsp;marketable direct obligations issued or unconditionally guaranteed by the United States or any agency thereof
to the extent such obligations are backed by the full faith and credit of the United&nbsp;States, in each case maturing within one (1)&nbsp;year
from the date of acquisition thereof, (b)&nbsp;commercial paper maturing no more than two hundred seventy (270) days from the date of
creation thereof and currently having the highest rating obtainable from either Standard&nbsp;&amp; Poor&rsquo;s Rating Service (&ldquo;<U>S&amp;P</U>&rdquo;)
or Moody&rsquo;s Investors Service,&nbsp;Inc. (&ldquo;<U>Moody&rsquo;s</U>&rdquo;) (or, if at any time either S&amp;P or Moody&rsquo;s
are not rating such fund, an equivalent rating from another nationally recognized statistical rating agency), (c)&nbsp;investments in
certificates of deposit, banker&rsquo;s acceptances, money market deposits and time deposits maturing within one hundred eighty (180)
days from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered
by, any domestic office of any commercial bank organized under the laws of the United&nbsp;States of America or any state thereof that
has a combined capital and surplus and undivided profits of not less than $500,000,000 and having a long-term debt rating of &ldquo;A&rdquo;
or better by S&amp;P or &ldquo;A2&rdquo; or better from Moody&rsquo;s (or, if at any time either S&amp;P or Moody&rsquo;s are not rating
the debt of such bank, an equivalent rating from another nationally recognized statistical rating agency), and (d)&nbsp;investments in
any money market fund or money market mutual fund that has (i)&nbsp;substantially all of its assets invested in the types of investments
referred to in clauses (a)&nbsp;through (c)&nbsp;above, (ii)&nbsp;net assets of not less than $250,000,000 and (iii)&nbsp;a rating of
at least A-2 from S&amp;P or at least P-2 from Moody&rsquo;s (or, if at any time either S&amp;P or Moody&rsquo;s are not rating such
fund, an equivalent rating from another nationally recognized statistical rating agency).</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Change in Control Event</U></I>&rdquo;
means the occurrence of any of the following: (a)&nbsp;Jason Aintabi ceases to be the beneficial owner, directly or indirectly, of 51%
or more of the total voting power of all classes of Capital Stock of the Vandewater Capital Holdings, LLC, (b)&nbsp;Vandewater Capital
Holdings, LLC ceases to be the beneficial owner, directly or indirectly, of 100% of the total voting power of all classes of Capital
Stock of Blackwells Holding Co. LLC, (c)&nbsp;Blackwells Holding Co. LLC ceases to be the beneficial owner, directly or indirectly, of
100% of the total voting power of all classes of Capital Stock of Blackwells Asset Management LLC and (d)&nbsp;Blackwells Asset Management
LLC ceases to be the beneficial owner, directly or indirectly, of 100% of the total voting power of all classes of Capital Stock of Borrower.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Closing Date</U></I>&rdquo; means
July&nbsp;2, 2024.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Code</U></I>&rdquo; means the Internal
Revenue Code of 1986, as amended.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I>Commitment</I>&rdquo; means an aggregate
amount equal to seventy percent (70%) of the purchase price of the Shares which are purchased by the Borrower pursuant to, and in accordance
with the terms of, the Share Ownership Agreement.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Commitment Termination Date</U></I>&rdquo;
means January 2, 2025.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Conforming Changes</U></I>&rdquo;
means, with respect to either the use or administration of Term SOFR or the use, administration, adoption or implementation of any Benchmark
Replacement, any technical, administrative or operational changes (including changes to the definition of &ldquo;Business Day,&rdquo;
the definition of &ldquo;U.S. Government Securities Business Day,&rdquo; the definition of &ldquo;Interest Period&rdquo; or any similar
or analogous definition (or the addition of a concept of &ldquo;interest period&rdquo;), timing and frequency of determining rates and
making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length
of lookback periods, the applicability of Section&nbsp;5(A)&nbsp;(Other Fees and Costs) and other technical, administrative or operational
matters) that Lender decides may be appropriate to reflect the adoption and implementation of any such rate or to permit the use and
administration thereof by Lender in a manner substantially consistent with market practice (or, if Lender decides that adoption of any
portion of such market practice is not administratively feasible or if Lender determines that no market practice for the administration
of any such rate exists, in such other manner of administration as the Lender decides is reasonably necessary in connection with the
administration of this Agreement and the other Contracts).</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Consolidated Net Asset Test</U></I>&rdquo;
means (a)&nbsp;the Fair Market Value of the consolidated assets of the Loan Parties minus (b)&nbsp;the consolidated Indebtedness of the
Loan Parties shall be greater than the lesser of an amount equal to (x)&nbsp;five times the principal amount of the outstanding Advances
(including any PIK Amounts) and (y)&nbsp;$50,000,000.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Contract</U></I>&rdquo; means this
Agreement and any other agreement, contract, instrument or document executed and delivered by a Loan Party to the Lender pursuant to
the Agreement.&nbsp; For the avoidance of doubt, the Cooperation Agreement and the Share Ownership Agreement shall not constitute Contracts.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<U>Cooperation Agreement</U>&rdquo; means
that certain Cooperation Agreement, dated as of July&nbsp;2, 2024, made and entered into by and among Braemar Hotels&nbsp;&amp; Resorts
Inc., a Maryland corporation, Ashford Hospitality Trust,&nbsp;Inc., a Maryland corporation, Ashford Inc., a Nevada corporation, Blackwells
Capital LLC, a Delaware limited liability company, Blackwells Onshore I LLC, a Delaware limited liability company, Blackwells Holdings
Co. LLC, a Delaware limited liability company, Vandewater Capital Holdings, LLC, a Delaware limited liability company, Blackwells Asset
Management LLC, a Delaware limited liability company, BW Coinvest Management I LLC, a Delaware limited liability company, and Jason Aintabi.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Daily Simple SOFR</U></I>&rdquo;
means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the Borrower and the
Lender mutually in good faith in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body
for determining &ldquo;Daily Simple SOFR&rdquo; for syndicated or bilateral business loans.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Debtor Relief Laws</U></I>&rdquo;
means any applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement, insolvency, fraudulent conveyance, reorganization,
or similar laws affecting the rights, remedies, or recourse of creditors generally, including without limitation the Bankruptcy Code
and all amendments thereto, and all relevant statutes and laws under any applicable jurisdiction, as are in effect from time to time
during the term of the Loan.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Defaulting Lender</U></I>&rdquo;
means any Lender that (i)&nbsp;has failed to fund any portion of the Loan on the date required to be funded and has not cured any such
failure within five (5)&nbsp;Business Days, unless Lender notified Borrower in writing that such failure is the result of Lender&rsquo;s
determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default,
shall be specifically identified in such writing) has not been satisfied, (ii)&nbsp;has notified the Borrower or any other Loan Party
that it does not intend or expect to comply with any of its funding obligations under this Agreement (unless such notification relates
to Lender&rsquo;s obligation to fund an Advance hereunder and states that such position is based on Lender&rsquo;s determination that
a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in
such writing or public statement) cannot be satisfied), (iii)&nbsp;has failed within five (5)&nbsp;Business Days after request by a Loan
Party, acting in good faith, to provide a certificate in writing from an authorized officer of the Lender that it will comply with its
obligations to fund prospective Advances (unless such failure is the result of Lender&rsquo;s determination that one or more conditions
precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such
writing) has not been satisfied) or (iv)&nbsp;has been placed into receivership, conservatorship or bankruptcy under any Debtor Relief
Laws.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Fair Market Value</U></I>&rdquo;
means, with respect to any property or assets, the price which could be negotiated in an arm&rsquo;s-length free market transaction,
for cash, between a willing seller and a willing buyer, neither of whom is under undue pressure or compulsion to complete the transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>FATCA</U></I>&rdquo; means Sections&nbsp;1471
through 1474 of the Code as of the date of this Agreement (or any amended or successor version that is substantively comparable and not
materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreement entered
into pursuant to Section&nbsp;1471(b)(1)&nbsp;of the Code or any fiscal or regulatory legislation, rules, guidance notes or practices
adopted pursuant to related intergovernmental agreement, treaties or conventions between Governmental Authorities in connection with
the implementation of such sections of the Code or analogous provisions of non-U.S. law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Federal Funds Rate</U></I>&rdquo;
means, for any period, the greater of (a)&nbsp;a fluctuating interest rate per annum calculated for each day during such period by the
Federal Reserve Bank of New York based on such day&rsquo;s Federal funds transactions by depositary institutions (as determined in such
manner as the Federal Reserve Bank of New York shall set forth on its public website from time to time) and published on the next succeeding
Business Day by the Federal Reserve Bank of New York as the Federal funds effective rate, and (b)&nbsp;the Floor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Floor</U></I>&rdquo; means a rate
of interest equal to 0%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>GAAP</U></I>&rdquo; means generally
accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting Principles Board and
the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board
or such other principles as may be approved by a significant segment of the accounting profession in the United States, that are applicable
to the circumstances as of the date of determination, consistently applied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Governmental Authority</U></I>&rdquo;
means the government of the United States of America or any other nation, or of any political subdivision thereof, whether state or local,
and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial,
taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as
the European Union or the European Central Bank).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Guaranty Obligations</U></I>&rdquo;
means, with respect to the Borrower, the Guarantors and each of their respective subsidiaries, without duplication, any obligation, contingent
or otherwise, of such Person pursuant to which such Person has directly or indirectly guaranteed any Indebtedness or other obligation
of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise,
of any such Person (a)&nbsp;to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other
obligation (whether arising by virtue of partnership arrangements, by agreement to keep well, to purchase assets, goods, securities or
services, to take-or-pay, or to maintain financial statement condition or otherwise) or (b)&nbsp;entered into for the purpose of assuring
in any other manner the obligee of such Indebtedness or other obligation of the payment thereof or to protect such obligee against loss
in respect thereof (in whole or in part); <I>provided</I>, that the term Guaranty Obligations shall not include endorsements for collection
or deposit in the ordinary course of business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Guarantor</U></I>&rdquo; shall have
the meaning given to such term in the preamble, save that any reference in this Agreement to the Guarantor taking any action (or omitting
to take any action), having any power or authority or owning, holding or dealing with any asset are to the Guarantor acting by its general
partner or to its general partner acting in such capacity on behalf of the Guarantor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Indebtedness</U></I>&rdquo; means,
with respect to any Person at any date and without duplication, the sum of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">all
liabilities, obligations and indebtedness for borrowed money including, but not limited to, obligations evidenced by bonds, debentures,
notes or other similar instruments of any such Person;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">all
obligations to pay the deferred purchase price of property or services of any such Person (including, without limitation, all obligations
under non-competition, earn-out or similar agreements), except trade payables arising in the ordinary course of business not more than
ninety (90) days past due, or that are currently being contested in good faith by appropriate proceedings and with respect to which reserves
in conformity with GAAP have been provided for on the books of such Person;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Attributable Indebtedness of such Person with respect to such Person&rsquo;s obligations in respect of Capital Leases and Synthetic Leases
(regardless of whether accounted for as indebtedness under GAAP);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">all
obligations of such Person under conditional sale or other title retention agreements relating to property purchased by such Person to
the extent of the value of such property (other than customary reservations or retentions of title under agreements with suppliers entered
into in the ordinary course of business);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">all
Indebtedness of any other Person secured by a Lien on any asset owned or being purchased by such Person (including indebtedness arising
under conditional sales or other title retention agreements except trade payables arising in the ordinary course of business), whether
or not such indebtedness shall have been assumed by such Person or is limited in recourse;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">all
obligations, contingent or otherwise, of any such Person relative to the face amount of letters of credit, whether or not drawn, and
any banker&rsquo;s acceptances issued for the account of any such Person;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(g)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">all
obligations of any such Person to repurchase any securities which repurchase obligation is related to the issuance thereof; and</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(h)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">all
Guaranty Obligations of any such Person with respect to any of the foregoing.</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">For all purposes hereof, the Indebtedness
of any Person shall include the Indebtedness of any partnership or joint venture (other than a joint venture that is itself a corporation
or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made
non-recourse to such Person.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Indemnified Parties</U></I>&rdquo;
means the Lender and each of its directors, officers, agents, employees and permitted assigns.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Interest Payment Date</U></I>&rdquo;
means (a)&nbsp;the Business Day that follows the last day of each Interest Period, and (b)&nbsp;the Maturity Date.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Interest Period</U></I>&rdquo; means
with respect to each Advance, initially the period from and including the relevant Drawdown Date to but excluding the first Business
Day of the immediately following calendar quarter, and thereafter the period from and including the first Business Day of each calendar
quarter up to but excluding the first Business Day of the immediately following calendar quarter; <I>provided that</I> the final Interest
Period shall end on and exclude the earlier of (i)&nbsp;the Maturity Date and (ii)&nbsp;the date on which the aggregate principal amount
of all Advances outstanding is finally paid in full.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Issuer</U></I>&rdquo; means Braemar
Hotels&nbsp;&amp; Resorts Inc.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Lien</U></I>&rdquo; means any lien,
mortgage, security interest, charge, assignment by way of security, tax lien, pledge, encumbrance, or conditional sale or title retention
arrangement, or any other interest in property designed to secure the repayment of indebtedness, whether arising by agreement or under
common law, any statute, law, contract, or otherwise.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Material Adverse Effect</U></I>&rdquo;
means a material adverse effect on (i)&nbsp;the business, operations, property or condition (financial or otherwise) of the Borrower
or any Guarantor, (ii)&nbsp;the ability of any Loan Party to perform any of its material obligations under any Contract, (iii)&nbsp;the
validity or enforceability of any Contract, or (iv)&nbsp;the rights and remedies of the Lender under any Contract.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Material Indebtedness</U></I>&rdquo;
means Indebtedness for borrowed money of any Loan Party in a principal amount greater than $1,000,000.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&ldquo;<U>Maximum Liability Cap</U></I>&rdquo;
means an amount equal to the outstanding Obligations.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Obligations</U></I>&rdquo; means
any and all obligations of Borrower to Lender arising at any time and from time to time, whether matured or unmatured, fixed or contingent,
liquidated or unliquidated, under this Agreement.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>OFAC</U></I>&rdquo; means the U.S.
Department of the Treasury&rsquo;s Office of Foreign Assets Control.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Other Connection Taxes</U></I>&rdquo;
means, with respect to any recipient, Taxes imposed as a result of a present or former connection between such recipient and the jurisdiction
imposing such Tax (other than connections arising from such recipient having executed, delivered, become a party to, performed its obligations
under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced
this Agreement, or sold or assigned an interest hereunder.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Person</U></I>&rdquo; shall mean
any natural person, corporation, business trust, joint venture, association, company, limited liability company, partnership, Governmental
Authority or other entity.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Related Person</U></I>&rdquo; means
any of the principals, officers, directors and senior employees (in such official capacity as principal, officer, director or senior
employee, as the case may be) of (i)&nbsp;any Loan Party, or (ii)&nbsp;such Loan Party&rsquo;s affiliates.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&ldquo;<U>Relevant Governmental Body</U>&rdquo;
</I>means the Board of Governors of the Federal Reserve System of the United States or the Federal Reserve Bank of New York, or a committee
officially endorsed or convened by the Board of Governors of the Federal Reserve System of the United States or the Federal Reserve Bank
of New York, or any successor thereto.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&ldquo;<U>Responsible Officer</U>&rdquo;</I>
means an officer or director or other duly authorized senior employee of a Loan Party or its investment advisor, general partner or managing
member (as applicable), in each case that is authorized to act for such Loan Party in connection with this Agreement and the other Contracts.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Share Ownership Agreement</U></I>&rdquo;
means that certain Share Ownership Agreement, dated as of July&nbsp;2, 2024, made and entered into by and among Braemar Hotels&nbsp;&amp;
Resorts Inc., a Maryland corporation, Ashford Hospitality Trust,&nbsp;Inc., a Maryland corporation, Ashford Inc., a Nevada corporation,
Blackwells Capital LLC, a Delaware limited liability company, Blackwells Onshore I LLC, a Delaware limited liability company, Blackwells
Holdings Co. LLC, a Delaware limited liability company, Vandewater Capital Holdings, LLC, a Delaware limited liability company, Blackwells
Asset Management LLC, a Delaware limited liability company, BW Coinvest Management I LLC, a Delaware limited liability company, and Jason
Aintabi.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Shares</U></I>&rdquo; means shares
of the Issuer.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>SOFR</U></I>&rdquo; means a rate
equal to the secured overnight financing rate (as administered by the Federal Reserve Bank of New York or a successor administrator of
the secured overnight financing rate).</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Spread</U></I>&rdquo; means 3.00%
(three hundred basis points) per annum.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Synthetic Lease</U></I>&rdquo; means
any synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing product where such
transaction is considered borrowed money indebtedness for tax purposes but is classified as an Operating Lease in accordance with GAAP.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Taxes</U></I>&rdquo; means any and
all taxes, levies, imposts, duties, charges, assessments or fees of any nature, including interest, penalties and additions thereto that
are imposed by any governmental authority.</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Term SOFR</U></I>&rdquo; means,
with respect to each Interest Period, the sum of (i)&nbsp;the Term SOFR Reference Rate for a tenor of one month on the day (such day,
the &ldquo;<U>Term SOFR Determination Day</U>&rdquo;) that is two (2)&nbsp;U.S. Government Securities Business Days prior to the first
day of such Interest Period, as such rate is published by the Term SOFR Administrator; <U>provided</U>, <U>however</U>, that if as of
5:00 p.m.&nbsp;(New York City time) on any Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not
been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred,
then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding
U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator
so long as such first preceding U.S. Government Securities Business Day is not more than three (3)&nbsp;U.S. Government Securities Business
Days prior to such Term SOFR Determination Day; <U>provided further</U> that, if Term SOFR as so determined would be less than the Floor,
then Term SOFR will be deemed to be the Floor for the purposes of this Agreement and the other Contracts and (ii)&nbsp;a percentage equal
to 0.10% (ten basis points) per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Term SOFR Administrator</U></I>&rdquo;
means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate mutually agreed
to in good faith by Lender and Borrower).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Term SOFR Determination Day</U></I>&rdquo;
has the meaning specified in the definition of &ldquo;Term SOFR&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Term SOFR Reference Rate</U></I>&rdquo;
means the forward-looking term rate based on SOFR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>UCC</U></I>&rdquo; means the Uniform
Commercial Code as in effect from time to time in the State of New York; provided, however, in the event that, by reason of mandatory
provisions of law, any or all of the perfection or priority of Lender&rsquo;s security interest in any Collateral is governed by the
Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, then the term &ldquo;<I><U>UCC</U></I>&rdquo;
shall mean the Uniform Commercial Code as in effect in such other jurisdiction or jurisdictions for purposes of any provisions hereof
relating to perfection or priority and for purposes of any definitions related to such provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>Unadjusted Benchmark Replacement</U></I>&rdquo;
means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>USA PATRIOT Act</U></I>&rdquo; means
Bank Secrecy Act as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept
and Obstruct Terrorism Act of 2001.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<I><U>U.S. Government Securities Business
Day</U></I>&rdquo; means any day except for (a)&nbsp;a Saturday, (b)&nbsp;a Sunday or (c)&nbsp;a day on which the Securities Industry
and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes
of trading in United States government securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Please sign below to indicate Borrower&rsquo;s formal acceptance
of this Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><B>Braemar Hospitality Limited Partnership</B>,
a Delaware limited partnership</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><B>By: Braemar OP General Partner
LLC</B>, a Delaware limited liability company, its general partner</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3%">By:</TD>
<TD STYLE="border-bottom: Black 1pt solid; width: 47%">/s/ Alex Rose</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>Print Name: &nbsp;&nbsp;Alex Rose</TD>
    <TD>&nbsp;</TD></TR>
                <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>Title: &nbsp;&nbsp;EVP, General Counsel &amp; Secretary</TD>
    <TD>&nbsp;</TD></TR>
                </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page&nbsp;to Loan Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 16 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BW Coinvest Management I LLC</B>, a Delaware limited liability
company (&ldquo;<B>Borrower</B>&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 3%; text-align: left">By:</TD><TD STYLE="text-align: justify; width: 97%">Blackwells Asset Management LLC</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">its sole member</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 44%">/s/ Jason Aintabi</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Jason Aintabi,</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">its sole manager</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">400 Park Avenue, 4th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">Attention: Jason Aintabi</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[Signature page&nbsp;to Loan Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>EXECUTED as a DEED by</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Jason Aintabi</B>, <B>Vandewater Capital Holdings, LLC</B>, <B>Blackwells
Holding Co. LLC</B>, and <B>Blackwells Asset Management LLC</B>, each a (&ldquo;<B>Guarantor</B>&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%">/s/ Jason Aintabi</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Jason Aintabi, an individual</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">400 Park Avenue, 4th Floor</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">New York, NY 10022</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Attention: Jason Aintabi</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">Vandewater Capital Holdings, LLC,</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">a Delaware limited liability company</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> /s/ Jason Aintabi</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Jason Aintabi,</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">its sole member</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">400 Park Avenue, 4th Floor</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">New York, NY 10022</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Attention: Jason Aintabi</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">Blackwells Holding Co. LLC,</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">a Delaware limited liability company</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> /s/ Jason Aintabi</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Jason Aintabi,</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">its sole manager</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">400 Park Avenue, 4th Floor</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">New York, NY 10022</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Attention: Jason Aintabi</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">Blackwells Asset Management LLC,</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">a Delaware limited liability company</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> /s/ Jason Aintabi</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Jason Aintabi,</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">its sole manager</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">400 Park Avenue, 4th Floor</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">New York, NY 10022</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Attention: Jason Aintabi</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page&nbsp;to Loan Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 18 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;OF ADVANCE NOTICE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[Date]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Braemar Hotels&nbsp;&amp; Resorts Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">14185 Dallas Parkway, Suite&nbsp;1200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dallas Texas, 75254</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned, <B>BW Coinvest Management I
LLC</B>, a Delaware limited liability company (the &ldquo;<B>Borrower</B>&rdquo;), refers to the Loan Agreement dated July&nbsp;2, 2024
(as from time to time amended, the &ldquo;<B>Loan Agreement</B>,&rdquo; the terms defined therein being used herein as therein defined),
by and between Borrower and Braemar Hospitality Limited Partnership, a Delaware limited partnership, (&ldquo;<B>Lender</B>&rdquo;) in
its capacity as lender, and hereby gives you notice, irrevocably, pursuant to Section&nbsp;2(B)&nbsp;(Notice of Drawdown) of the Loan
Agreement, that the undersigned hereby requests an Advance under the Loan Agreement, and in that connection sets forth below the information
relating to such Advance (the &ldquo;<B>Proposed Borrowing</B>&rdquo;) as required by Section&nbsp;2(B)&nbsp;(Notice of Drawdown) of
the Loan Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Business Day of the Proposed Borrowing is ___________ __, ____.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
amount of the Proposed Borrowing is $_____________<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1</SUP></FONT>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">[Account details to be provided]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby certifies that the following
statements are true on the date hereof and will be true on the date of the Proposed Borrowing immediately before and after giving effect
to the Advance:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(A)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
representations and warranties by Borrower and the other Loan Parties contained in Loan Agreement or in any Contract are true and correct
in all material respects (without duplicating any materiality qualifiers therein);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(B)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">no
Event of Default which has not been waived or deemed waived pursuant to the provisions of the Loan Agreement has occurred and is continuing
or will result after giving effect to the Advance;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(C)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">at
the time of and immediately after giving effect to the Advance, the Cooperation Agreement and the Share Ownership Agreement are each
in full force and effect and no default of any kind has occurred thereunder;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(D)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">such
Advance does not violate any law, regulation, order, writ, judgment, injunction, determination or decree of any governmental authority,
applicable to Borrower; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">(E)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Proposed Borrowing represents 70% of the purchase price (and for the avoidance of doubt, excluding any brokerage fees and other fees
and expenses incurred in connection with acquiring the Shares other than commissions thereon in an amount not to exceed $0.02 per Share)
of the Shares sought to be reimbursed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">BW Coinvest Management I LLC,</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">a Delaware limited liability company</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Blackwells Asset Management LLC</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">its sole member</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 44%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Jason Aintabi,</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">its sole manager</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1
</SUP></FONT>NTD: at no time may this amount exceed the Commitment or the amount permitted to be borrowed pursuant to Section 2A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 19 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATE OF EFFECTIVENESS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Reference is made to that certain Loan Agreement
dated July&nbsp;2, 2024, by and among, amongst others, BW Coinvest Management I LLC, a Delaware limited liability company (the &ldquo;<B>Borrower</B>&rdquo;)
and Braemar Hospitality Limited Partnership, a Delaware limited partnership, in its capacity as lender (&ldquo;<B>Lender</B>&rdquo;)
(as amended, restated, supplemented or otherwise modified from time to time, the &ldquo;<B>Loan Agreement</B>,&rdquo; the terms defined
therein being used herein as therein defined).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon the execution and delivery of this Certificate
of Effectiveness all conditions precedent to the obligations of the Loan Agreement are deemed satisfied (or waived) and the Loan Agreement
(including Lender&rsquo;s obligation to make the Loan in accordance with the terms and conditions of the Agreement) is in full force
and effect as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><B>Braemar Hospitality Limited Partnership</B>, a Delaware limited
    partnership</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><B>By: Braemar OP General Partner LLC</B>, a Delaware limited liability
    company, its general partner</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%"></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Print Name: &nbsp;&nbsp;Alex Rose</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title: &nbsp;&nbsp;EVP, General Counsel &amp; Secretary</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Dated as of July&nbsp;2, 2024</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 20 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;C</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;OF COMPLIANCE CERTIFICATE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">[Date]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Braemar Hotels&nbsp;&amp; Resorts Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">14185 Dallas Parkway, Suite&nbsp;1200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dallas Texas, 75254</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Reference is made to that certain Loan Agreement
dated July&nbsp;2, 2024, by and among, amongst others, <B>BW Coinvest Management I LLC</B>, a Delaware limited liability company (the
 &ldquo;<B>Borrower</B>&rdquo;) and Braemar Hospitality Limited Partnership, a Delaware limited partnership, in its capacity as lender
(&ldquo;<B>Lender</B>&rdquo;) (as amended, restated, supplemented or otherwise modified from time to time, the &ldquo;<B>Loan Agreement</B>,&rdquo;
the terms defined therein being used herein as therein defined).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned is a duly Responsible Officer
of the Borrower. In connection with Section&nbsp;7(R)&nbsp;of the Loan Agreement, the undersigned certifies, in his/her capacity as a
Responsible Officer of the Borrower, (i)&nbsp;at all times during the most recent calendar quarter for which this certificate relates,
the Loan Parties [have]/[have not] satisfied the Consolidated Net Asset Test and (ii)&nbsp; <U>Schedule I</U> hereof sets forth the calculation
of the Consolidated Net Asset Test as of the last day of the most recently ended calendar quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"> <B>Blackwells Asset Management LLC</B></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">its sole member</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 44%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 50%">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Jason Aintabi,</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">its sole manager</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">400 Park Avenue, 4th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attention: Jason Aintabi</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 21 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Schedule I to Compliance Certificate</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 22; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>5
<FILENAME>tm2418611d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font-size: 10pt; margin: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: right; margin: 0pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="margin: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%; text-align: left">&nbsp;<IMG SRC="tm2418611d1_ex99-1img001.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%">NEWS
RELEASE</TD>
</TR></TABLE>

<P STYLE="margin: 0pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 10%"><FONT STYLE="font-size: 10pt">Contact:</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 20%"><FONT STYLE="font-size: 10pt">Deric Eubanks&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 70%"><FONT STYLE="font-size: 10pt">Longacre Square
    Partners</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Chief Financial Officer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Media Contact</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">(972) 490-9600&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Braemar@Longacresquare.com</FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>BRAEMAR HOTELS&nbsp;&amp;
RESORTS AND BLACKWELLS CAPITAL ENTER INTO COOPERATION AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><I>Blackwells to
Withdraw Proxy Solicitation and Vote in Favor of All Braemar Nominees and Proposals</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><I>Company to Add
Independent Director with Input from Blackwells, Which Will Become a Significant Shareholder</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">DALLAS, July&nbsp;2,
2024 &ndash; Braemar Hotels&nbsp;&amp; Resorts Inc. (NYSE: BHR) (&ldquo;Braemar&rdquo; or the &ldquo;Company&rdquo;) today announced
that it has entered into a cooperation agreement (the &ldquo;Cooperation Agreement&rdquo;) with Blackwells Capital LLC (&ldquo;Blackwells&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Under the terms
of the Cooperation Agreement, Blackwells will withdraw its director nomination notice and proposals, cease soliciting proxies and vote
in favor of all Braemar directors and proposals at the 2024 Annual Meeting of Stockholders (the &ldquo;Annual Meeting&rdquo;). Braemar
and Blackwells have agreed to release all legal claims arising prior to the settlement and dismiss their respective actions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Richard J. Stockton, President and Chief Executive Officer of Braemar, stated: &ldquo;We are pleased to have reached this outcome, which we believe is in the best interests
of all our shareholders. We can now return our full focus to optimally managing our unique portfolio of world-class assets, enhancing
our capital structure and financial flexibility, and maximizing shareholder value. We are extremely excited for Braemar&rsquo;s future,
and look forward to working with Blackwells as a significant shareholder.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">As part of the
Cooperation Agreement, Blackwells has committed to purchase 3.5 million shares of Braemar&rsquo;s stock in the open market, financed
in part by Braemar. Braemar will also add an additional independent director to its Board of Directors and will consider Blackwells&rsquo;
input in this selection.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Jason Aintabi,
Chief Investment Officer of Blackwells, said, &ldquo;We look forward to supporting Braemar&rsquo;s Board and leadership team, and to
becoming one of Braemar&rsquo;s largest shareholders. We believe Braemar will execute their strategy to maximize the value of the Company&rsquo;s
high-quality assets, and we look forward to continuing to build a constructive relationship with the Company moving forward.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Blackwells has
entered into a multi-year standstill with voting commitments in connection with the Cooperation Agreement. The agreement will be filed
by the Company with the U.S. Securities and Exchange Commission as an exhibit to a Current Report on Form&nbsp;8-K.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">* * * * *</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Braemar Hotels&nbsp;&amp;
Resorts is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Forward-Looking
Statements</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Certain statements
and assumptions in this press release contain or are based upon &ldquo;forward-looking&rdquo; information and are being made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release
include, among others, statements about the Company&rsquo;s strategy and future plans. These forward-looking statements are subject to
risks and uncertainties. When we use the words &ldquo;will likely result,&rdquo; &ldquo;may,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;estimate,&rdquo;
 &ldquo;should,&rdquo; &ldquo;expect,&rdquo; &ldquo;believe,&rdquo; &ldquo;intend,&rdquo; or similar expressions, we intend to identify
forward-looking statements. Such statements are subject to numerous assumptions and uncertainties, many of which are outside Braemar&rsquo;s
control.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>These forward-looking
statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those
anticipated, including, without limitation: our ability to complete the previously announced shareholder value creation plan on a timely
basis, if at all; potential risks related to actions or proposals from activist stockholders; our ability to repay, refinance or restructure
our debt and the debt of certain of our subsidiaries; anticipated or expected purchases or sales of assets; our projected operating results;
completion of any pending transactions; risks associated with our ability to effectuate our dividend policy, including factors such as
operating results and the economic outlook influencing our board&rsquo;s decision whether to pay further dividends at levels previously
disclosed or to use available cash to pay dividends; our understanding of our competition; market trends; projected capital expenditures;
the impact of technology on our operations and business; general volatility of the capital markets and the market price of our common
stock and preferred stock; availability, terms and deployment of capital; availability of qualified personnel; changes in our industry
and the markets in which we operate, interest rates or the general economy; and the degree and nature of our competition. These and other
risk factors are more fully discussed in Braemar&rsquo;s filings with the SEC.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>The forward-looking
statements included in this press release are only made as of the date of this press release. Such forward-looking statements are based
on our beliefs, assumptions, and expectations of our future performance taking into account all information currently known to us. These
beliefs, assumptions, and expectations can change as a result of many potential events or factors, not all of which are known to us.
If a change occurs, our business, financial condition, liquidity, results of operations, plans, and other objectives may vary materially
from those expressed in our forward-looking statements. You should carefully consider this risk when you make an investment decision
concerning our securities. Investors should not place undue reliance on these forward-looking statements. The Company can give no assurance
that these forward-looking statements will be attained or that any deviation will not occur. We are not obligated to publicly update
or revise any forward-looking statements, whether as a result of new information, future events or circumstances, changes in expectations,
or otherwise, except to the extent required by law.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Additional Information
and Where to Find it</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company has
filed a Definitive Proxy Statement on Schedule 14A with the SEC on June&nbsp;17, 2024 (the &ldquo;Proxy Statement&rdquo;) and intends
to file other relevant materials with respect to the Company&rsquo;s solicitation of proxies for the Annual Meeting now scheduled to
be held on October&nbsp;15, 2024. INVESTORS AND STOCKHOLDERS OF THE COMPANY ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS
OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE CAREFULLY AND IN THEIR ENTIRETY
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. The Proxy Statement and any other documents filed by the Company
with the SEC may be obtained free of charge at the SEC&rsquo;s website at www.sec.gov. In addition, investors and security holders may
obtain free copies of the documents filed with the SEC at the Company&rsquo;s website, http://www.bhrreit.com, under the &ldquo;Investor&rdquo;
link, or by requesting them in writing or by telephone from us at 14185 Dallas Parkway, Suite&nbsp;1200, Dallas, Texas 75254, Attn: Investor
Relations or (972) 490-9600.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Participants</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company and
its directors and executive officers will be participants in the solicitation of proxies with respect to a solicitation by the Company.
Information about those executive officers and directors of the Company and their ownership of the Company&rsquo;s common stock is set
forth in the Proxy Statement. Investors and security holders may obtain additional information regarding direct and indirect interests
of the Company and its executive officers and directors in the matters to be voted upon at the Annual Meeting by reading the Proxy Statement.
These documents are or will be available free of charge at the SEC&rsquo;s website at www.sec.gov.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>6
<FILENAME>bhr-20240702.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" ?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.22c -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
    <!-- Field: Doc-Info; Name: Misc; Value: +aA5w7xRiXgen8uLa3ZcWaaPCbOdzZR+yYkxtmBzbdl63ygrUI22xS+HSOzm0dgB -->
<schema xmlns="http://www.w3.org/2001/XMLSchema" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:dei="http://xbrl.sec.gov/dei/2023" xmlns:us-gaap="http://fasb.org/us-gaap/2023" xmlns:srt="http://fasb.org/srt/2023" xmlns:srt-types="http://fasb.org/srt-types/2023" xmlns:bhr="http://ahpreit.com/20240702" elementFormDefault="qualified" targetNamespace="http://ahpreit.com/20240702">
    <annotation>
      <appinfo>
        <link:roleType roleURI="http://ahpreit.com/role/Cover" id="Cover">
          <link:definition>00000001 - Document - Cover</link:definition>
          <link:usedOn>link:presentationLink</link:usedOn>
          <link:usedOn>link:calculationLink</link:usedOn>
          <link:usedOn>link:definitionLink</link:usedOn>
        </link:roleType>
        <link:linkbaseRef xlink:type="simple" xlink:href="bhr-20240702_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Presentation Links" />
        <link:linkbaseRef xlink:type="simple" xlink:href="bhr-20240702_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Label Links" />
        <link:linkbaseRef xlink:type="simple" xlink:href="bhr-20240702_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Definition Links" />
      </appinfo>
    </annotation>
    <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
    <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
    <import namespace="http://xbrl.sec.gov/dei/2023" schemaLocation="https://xbrl.sec.gov/dei/2023/dei-2023.xsd" />
    <import namespace="http://fasb.org/us-gaap/2023" schemaLocation="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd" />
    <import namespace="http://fasb.org/us-types/2023" schemaLocation="https://xbrl.fasb.org/us-gaap/2023/elts/us-types-2023.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/2022-03-31" schemaLocation="https://www.xbrl.org/dtr/type/2022-03-31/types.xsd" />
    <import namespace="http://xbrl.sec.gov/country/2023" schemaLocation="https://xbrl.sec.gov/country/2023/country-2023.xsd" />
    <import namespace="http://fasb.org/srt/2023" schemaLocation="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd" />
    <import namespace="http://fasb.org/srt-types/2023" schemaLocation="https://xbrl.fasb.org/srt/2023/elts/srt-types-2023.xsd" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>7
<FILENAME>bhr-20240702_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.22c -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef roleURI="http://ahpreit.com/role/Cover" xlink:href="bhr-20240702.xsd#Cover" xlink:type="simple" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" arcroleURI="http://xbrl.org/int/dim/arcrole/all" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#notAll" arcroleURI="http://xbrl.org/int/dim/arcrole/notAll" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" />
    <link:definitionLink xlink:type="extended" xlink:role="http://ahpreit.com/role/Cover" xlink:title="00000001 - Document - Cover">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentInformationLineItems" xlink:label="loc_deiDocumentInformationLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaapStatementTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_us-gaapStatementTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaapStatementClassOfStockAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapStatementTable" xlink:to="loc_us-gaapStatementClassOfStockAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapStatementClassOfStockAxis" xlink:to="loc_us-gaapClassOfStockDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapStatementClassOfStockAxis" xlink:to="loc_us-gaapClassOfStockDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaapCommonStockMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_us-gaapCommonStockMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeriesBPreferredStockMember" xlink:label="loc_us-gaapSeriesBPreferredStockMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_us-gaapSeriesBPreferredStockMember_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeriesDPreferredStockMember" xlink:label="loc_us-gaapSeriesDPreferredStockMember_30" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_us-gaapSeriesDPreferredStockMember_30" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType" xlink:label="loc_deiDocumentType_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentType_50" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentFlag" xlink:label="loc_deiAmendmentFlag_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAmendmentFlag_50" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentDescription" xlink:label="loc_deiAmendmentDescription_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAmendmentDescription_50" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentRegistrationStatement" xlink:label="loc_deiDocumentRegistrationStatement_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentRegistrationStatement_50" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAnnualReport" xlink:label="loc_deiDocumentAnnualReport_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentAnnualReport_50" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentQuarterlyReport" xlink:label="loc_deiDocumentQuarterlyReport_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentQuarterlyReport_50" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentTransitionReport" xlink:label="loc_deiDocumentTransitionReport_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentTransitionReport_50" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentShellCompanyReport" xlink:label="loc_deiDocumentShellCompanyReport_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentShellCompanyReport_50" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentShellCompanyEventDate" xlink:label="loc_deiDocumentShellCompanyEventDate_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentShellCompanyEventDate_50" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodStartDate" xlink:label="loc_deiDocumentPeriodStartDate_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentPeriodStartDate_50" xlink:type="arc" order="9" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_deiDocumentPeriodEndDate_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentPeriodEndDate_50" xlink:type="arc" order="10" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_deiDocumentFiscalPeriodFocus_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentFiscalPeriodFocus_50" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_deiDocumentFiscalYearFocus_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentFiscalYearFocus_50" xlink:type="arc" order="12" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_deiCurrentFiscalYearEndDate_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiCurrentFiscalYearEndDate_50" xlink:type="arc" order="13" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber" xlink:label="loc_deiEntityFileNumber_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityFileNumber_50" xlink:type="arc" order="14" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName" xlink:label="loc_deiEntityRegistrantName_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityRegistrantName_50" xlink:type="arc" order="15" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey" xlink:label="loc_deiEntityCentralIndexKey_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityCentralIndexKey_50" xlink:type="arc" order="16" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityPrimarySicNumber" xlink:label="loc_deiEntityPrimarySicNumber_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityPrimarySicNumber_50" xlink:type="arc" order="17" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_deiEntityTaxIdentificationNumber_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityTaxIdentificationNumber_50" xlink:type="arc" order="18" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_deiEntityIncorporationStateCountryCode_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityIncorporationStateCountryCode_50" xlink:type="arc" order="19" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_deiEntityAddressAddressLine1_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressAddressLine1_50" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine2" xlink:label="loc_deiEntityAddressAddressLine2_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressAddressLine2_50" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine3" xlink:label="loc_deiEntityAddressAddressLine3_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressAddressLine3_50" xlink:type="arc" order="22" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_deiEntityAddressCityOrTown_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressCityOrTown_50" xlink:type="arc" order="23" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_deiEntityAddressStateOrProvince_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressStateOrProvince_50" xlink:type="arc" order="24" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCountry" xlink:label="loc_deiEntityAddressCountry_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressCountry_50" xlink:type="arc" order="25" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_deiEntityAddressPostalZipCode_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressPostalZipCode_50" xlink:type="arc" order="26" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CountryRegion" xlink:label="loc_deiCountryRegion_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiCountryRegion_50" xlink:type="arc" order="27" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode" xlink:label="loc_deiCityAreaCode_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiCityAreaCode_50" xlink:type="arc" order="28" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber" xlink:label="loc_deiLocalPhoneNumber_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiLocalPhoneNumber_50" xlink:type="arc" order="29" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Extension" xlink:label="loc_deiExtension_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiExtension_50" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_WrittenCommunications" xlink:label="loc_deiWrittenCommunications_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiWrittenCommunications_50" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SolicitingMaterial" xlink:label="loc_deiSolicitingMaterial_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSolicitingMaterial_50" xlink:type="arc" order="32" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementTenderOffer" xlink:label="loc_deiPreCommencementTenderOffer_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiPreCommencementTenderOffer_50" xlink:type="arc" order="33" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="loc_deiPreCommencementIssuerTenderOffer_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiPreCommencementIssuerTenderOffer_50" xlink:type="arc" order="34" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12bTitle" xlink:label="loc_deiSecurity12bTitle_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurity12bTitle_50" xlink:type="arc" order="35" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_NoTradingSymbolFlag" xlink:label="loc_deiNoTradingSymbolFlag_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiNoTradingSymbolFlag_50" xlink:type="arc" order="36" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_TradingSymbol" xlink:label="loc_deiTradingSymbol_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiTradingSymbol_50" xlink:type="arc" order="37" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityExchangeName" xlink:label="loc_deiSecurityExchangeName_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurityExchangeName_50" xlink:type="arc" order="38" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12gTitle" xlink:label="loc_deiSecurity12gTitle_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurity12gTitle_50" xlink:type="arc" order="39" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityReportingObligation" xlink:label="loc_deiSecurityReportingObligation_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurityReportingObligation_50" xlink:type="arc" order="40" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AnnualInformationForm" xlink:label="loc_deiAnnualInformationForm_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAnnualInformationForm_50" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="loc_deiAuditedAnnualFinancialStatements_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAuditedAnnualFinancialStatements_50" xlink:type="arc" order="42" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_deiEntityWellKnownSeasonedIssuer_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityWellKnownSeasonedIssuer_50" xlink:type="arc" order="43" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_deiEntityVoluntaryFilers_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityVoluntaryFilers_50" xlink:type="arc" order="44" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_deiEntityCurrentReportingStatus_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityCurrentReportingStatus_50" xlink:type="arc" order="45" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityInteractiveDataCurrent" xlink:label="loc_deiEntityInteractiveDataCurrent_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityInteractiveDataCurrent_50" xlink:type="arc" order="46" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFilerCategory" xlink:label="loc_deiEntityFilerCategory_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityFilerCategory_50" xlink:type="arc" order="47" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntitySmallBusiness" xlink:label="loc_deiEntitySmallBusiness_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntitySmallBusiness_50" xlink:type="arc" order="48" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_deiEntityEmergingGrowthCompany_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityEmergingGrowthCompany_50" xlink:type="arc" order="49" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityExTransitionPeriod" xlink:label="loc_deiEntityExTransitionPeriod_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityExTransitionPeriod_50" xlink:type="arc" order="50" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAccountingStandard" xlink:label="loc_deiDocumentAccountingStandard_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentAccountingStandard_50" xlink:type="arc" order="51" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_OtherReportingStandardItemNumber" xlink:label="loc_deiOtherReportingStandardItemNumber_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiOtherReportingStandardItemNumber_50" xlink:type="arc" order="52" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityShellCompany" xlink:label="loc_deiEntityShellCompany_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityShellCompany_50" xlink:type="arc" order="53" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityPublicFloat" xlink:label="loc_deiEntityPublicFloat_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityPublicFloat_50" xlink:type="arc" order="54" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="loc_deiEntityBankruptcyProceedingsReportingCurrent_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityBankruptcyProceedingsReportingCurrent_50" xlink:type="arc" order="55" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_deiEntityCommonStockSharesOutstanding_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityCommonStockSharesOutstanding_50" xlink:type="arc" order="56" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="loc_deiDocumentsIncorporatedByReferenceTextBlock_50" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentsIncorporatedByReferenceTextBlock_50" xlink:type="arc" order="57" />
    </link:definitionLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>8
<FILENAME>bhr-20240702_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.22c -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
    <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="us-gaap_StatementClassOfStockAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xml:lang="en-US">Class of Stock [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Common Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeriesBPreferredStockMember" xlink:label="us-gaap_SeriesBPreferredStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SeriesBPreferredStockMember" xlink:to="us-gaap_SeriesBPreferredStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SeriesBPreferredStockMember_lbl" xml:lang="en-US">Series B Preferred Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeriesDPreferredStockMember" xlink:label="us-gaap_SeriesDPreferredStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SeriesDPreferredStockMember" xlink:to="us-gaap_SeriesDPreferredStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SeriesDPreferredStockMember_lbl" xml:lang="en-US">Series D Preferred Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US">Statement [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentInformationLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentInformationLineItems_lbl" xml:lang="en-US">Document Information [Line Items]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType" xlink:label="dei_DocumentType" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentDescription" xlink:label="dei_AmendmentDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentDescription" xlink:to="dei_AmendmentDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentDescription_lbl" xml:lang="en-US">Amendment Description</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentRegistrationStatement" xlink:label="dei_DocumentRegistrationStatement" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentRegistrationStatement" xlink:to="dei_DocumentRegistrationStatement_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentRegistrationStatement_lbl" xml:lang="en-US">Document Registration Statement</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAnnualReport" xlink:label="dei_DocumentAnnualReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAnnualReport_lbl" xml:lang="en-US">Document Annual Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentQuarterlyReport" xlink:label="dei_DocumentQuarterlyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentQuarterlyReport" xlink:to="dei_DocumentQuarterlyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentQuarterlyReport_lbl" xml:lang="en-US">Document Quarterly Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentTransitionReport_lbl" xml:lang="en-US">Document Transition Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentShellCompanyReport" xlink:label="dei_DocumentShellCompanyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyReport_lbl" xml:lang="en-US">Document Shell Company Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentShellCompanyEventDate" xlink:label="dei_DocumentShellCompanyEventDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyEventDate" xlink:to="dei_DocumentShellCompanyEventDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyEventDate_lbl" xml:lang="en-US">Document Shell Company Event Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodStartDate" xlink:label="dei_DocumentPeriodStartDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodStartDate" xlink:to="dei_DocumentPeriodStartDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodStartDate_lbl" xml:lang="en-US">Document Period Start Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityPrimarySicNumber" xlink:label="dei_EntityPrimarySicNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPrimarySicNumber" xlink:to="dei_EntityPrimarySicNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPrimarySicNumber_lbl" xml:lang="en-US">Entity Primary SIC Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US">Entity Tax Identification Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine2" xlink:label="dei_EntityAddressAddressLine2" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US">Entity Address, Address Line Two</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine3" xlink:label="dei_EntityAddressAddressLine3" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine3" xlink:to="dei_EntityAddressAddressLine3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine3_lbl" xml:lang="en-US">Entity Address, Address Line Three</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US">Entity Address, State or Province</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCountry" xlink:label="dei_EntityAddressCountry" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CountryRegion" xlink:label="dei_CountryRegion" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CountryRegion" xlink:to="dei_CountryRegion_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CountryRegion_lbl" xml:lang="en-US">Country Region</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Extension" xlink:label="dei_Extension" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Extension" xlink:to="dei_Extension_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Extension_lbl" xml:lang="en-US">Extension</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_WrittenCommunications" xlink:label="dei_WrittenCommunications" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_WrittenCommunications_lbl" xml:lang="en-US">Written Communications</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SolicitingMaterial_lbl" xml:lang="en-US">Soliciting Material</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementTenderOffer" xlink:label="dei_PreCommencementTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementTenderOffer_lbl" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US">Title of 12(b) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_NoTradingSymbolFlag" xlink:label="dei_NoTradingSymbolFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_NoTradingSymbolFlag" xlink:to="dei_NoTradingSymbolFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_NoTradingSymbolFlag_lbl" xml:lang="en-US">No Trading Symbol Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US">Security Exchange Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12gTitle" xlink:label="dei_Security12gTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12gTitle" xlink:to="dei_Security12gTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12gTitle_lbl" xml:lang="en-US">Title of 12(g) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityReportingObligation" xlink:label="dei_SecurityReportingObligation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityReportingObligation" xlink:to="dei_SecurityReportingObligation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityReportingObligation_lbl" xml:lang="en-US">Security Reporting Obligation</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AnnualInformationForm" xlink:label="dei_AnnualInformationForm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AnnualInformationForm" xlink:to="dei_AnnualInformationForm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AnnualInformationForm_lbl" xml:lang="en-US">Annual Information Form</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="dei_AuditedAnnualFinancialStatements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditedAnnualFinancialStatements" xlink:to="dei_AuditedAnnualFinancialStatements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditedAnnualFinancialStatements_lbl" xml:lang="en-US">Audited Annual Financial Statements</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US">Entity Interactive Data Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntitySmallBusiness" xlink:label="dei_EntitySmallBusiness" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntitySmallBusiness_lbl" xml:lang="en-US">Entity Small Business</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US">Entity Emerging Growth Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityExTransitionPeriod" xlink:label="dei_EntityExTransitionPeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityExTransitionPeriod" xlink:to="dei_EntityExTransitionPeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityExTransitionPeriod_lbl" xml:lang="en-US">Elected Not To Use the Extended Transition Period</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAccountingStandard" xlink:label="dei_DocumentAccountingStandard" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAccountingStandard" xlink:to="dei_DocumentAccountingStandard_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAccountingStandard_lbl" xml:lang="en-US">Document Accounting Standard</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_OtherReportingStandardItemNumber" xlink:label="dei_OtherReportingStandardItemNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_OtherReportingStandardItemNumber" xlink:to="dei_OtherReportingStandardItemNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_OtherReportingStandardItemNumber_lbl" xml:lang="en-US">Other Reporting Standard Item Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US">Entity Shell Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="dei_EntityPublicFloat_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPublicFloat_lbl" xml:lang="en-US">Entity Public Float</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="dei_EntityBankruptcyProceedingsReportingCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityBankruptcyProceedingsReportingCurrent" xlink:to="dei_EntityBankruptcyProceedingsReportingCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityBankruptcyProceedingsReportingCurrent_lbl" xml:lang="en-US">Entity Bankruptcy Proceedings, Reporting Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="dei_DocumentsIncorporatedByReferenceTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentsIncorporatedByReferenceTextBlock" xlink:to="dei_DocumentsIncorporatedByReferenceTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentsIncorporatedByReferenceTextBlock_lbl" xml:lang="en-US">Documents Incorporated by Reference [Text Block]</link:label>
    </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>9
<FILENAME>bhr-20240702_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.22c -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef roleURI="http://ahpreit.com/role/Cover" xlink:href="bhr-20240702.xsd#Cover" xlink:type="simple" />
    <link:presentationLink xlink:type="extended" xlink:role="http://ahpreit.com/role/Cover" xlink:title="00000001 - Document - Cover">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CoverAbstract" xlink:label="loc_deiCoverAbstract" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaapStatementTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_us-gaapStatementTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentInformationLineItems" xlink:label="loc_deiDocumentInformationLineItems" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaapStatementTable" xlink:to="loc_deiDocumentInformationLineItems" order="200" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaapStatementClassOfStockAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaapStatementTable" xlink:to="loc_us-gaapStatementClassOfStockAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaapStatementClassOfStockAxis" xlink:to="loc_us-gaapClassOfStockDomain" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaapCommonStockMember" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_us-gaapCommonStockMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeriesBPreferredStockMember" xlink:label="loc_us-gaapSeriesBPreferredStockMember" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_us-gaapSeriesBPreferredStockMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd#us-gaap_SeriesDPreferredStockMember" xlink:label="loc_us-gaapSeriesDPreferredStockMember" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_us-gaapSeriesDPreferredStockMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType" xlink:label="loc_deiDocumentType" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentType" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentFlag" xlink:label="loc_deiAmendmentFlag" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAmendmentFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentDescription" xlink:label="loc_deiAmendmentDescription" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAmendmentDescription" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentRegistrationStatement" xlink:label="loc_deiDocumentRegistrationStatement" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentRegistrationStatement" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAnnualReport" xlink:label="loc_deiDocumentAnnualReport" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentAnnualReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentQuarterlyReport" xlink:label="loc_deiDocumentQuarterlyReport" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentQuarterlyReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentTransitionReport" xlink:label="loc_deiDocumentTransitionReport" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentTransitionReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentShellCompanyReport" xlink:label="loc_deiDocumentShellCompanyReport" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentShellCompanyReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentShellCompanyEventDate" xlink:label="loc_deiDocumentShellCompanyEventDate" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentShellCompanyEventDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodStartDate" xlink:label="loc_deiDocumentPeriodStartDate" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentPeriodStartDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_deiDocumentPeriodEndDate" />
      <link:presentationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentPeriodEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_deiDocumentFiscalPeriodFocus" />
      <link:presentationArc order="110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentFiscalPeriodFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_deiDocumentFiscalYearFocus" />
      <link:presentationArc order="120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentFiscalYearFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_deiCurrentFiscalYearEndDate" />
      <link:presentationArc order="130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiCurrentFiscalYearEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber" xlink:label="loc_deiEntityFileNumber" />
      <link:presentationArc order="140" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityFileNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName" xlink:label="loc_deiEntityRegistrantName" />
      <link:presentationArc order="150" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityRegistrantName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey" xlink:label="loc_deiEntityCentralIndexKey" />
      <link:presentationArc order="160" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityCentralIndexKey" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityPrimarySicNumber" xlink:label="loc_deiEntityPrimarySicNumber" />
      <link:presentationArc order="170" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityPrimarySicNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_deiEntityTaxIdentificationNumber" />
      <link:presentationArc order="180" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityTaxIdentificationNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_deiEntityIncorporationStateCountryCode" />
      <link:presentationArc order="190" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityIncorporationStateCountryCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_deiEntityAddressAddressLine1" />
      <link:presentationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressAddressLine1" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine2" xlink:label="loc_deiEntityAddressAddressLine2" />
      <link:presentationArc order="210" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressAddressLine2" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine3" xlink:label="loc_deiEntityAddressAddressLine3" />
      <link:presentationArc order="220" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressAddressLine3" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_deiEntityAddressCityOrTown" />
      <link:presentationArc order="230" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressCityOrTown" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_deiEntityAddressStateOrProvince" />
      <link:presentationArc order="240" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressStateOrProvince" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCountry" xlink:label="loc_deiEntityAddressCountry" />
      <link:presentationArc order="250" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressCountry" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_deiEntityAddressPostalZipCode" />
      <link:presentationArc order="260" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressPostalZipCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CountryRegion" xlink:label="loc_deiCountryRegion" />
      <link:presentationArc order="270" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiCountryRegion" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode" xlink:label="loc_deiCityAreaCode" />
      <link:presentationArc order="280" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiCityAreaCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber" xlink:label="loc_deiLocalPhoneNumber" />
      <link:presentationArc order="290" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiLocalPhoneNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Extension" xlink:label="loc_deiExtension" />
      <link:presentationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiExtension" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_WrittenCommunications" xlink:label="loc_deiWrittenCommunications" />
      <link:presentationArc order="310" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiWrittenCommunications" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SolicitingMaterial" xlink:label="loc_deiSolicitingMaterial" />
      <link:presentationArc order="320" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSolicitingMaterial" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementTenderOffer" xlink:label="loc_deiPreCommencementTenderOffer" />
      <link:presentationArc order="330" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiPreCommencementTenderOffer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="loc_deiPreCommencementIssuerTenderOffer" />
      <link:presentationArc order="340" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiPreCommencementIssuerTenderOffer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12bTitle" xlink:label="loc_deiSecurity12bTitle" />
      <link:presentationArc order="350" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurity12bTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_NoTradingSymbolFlag" xlink:label="loc_deiNoTradingSymbolFlag" />
      <link:presentationArc order="360" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiNoTradingSymbolFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_TradingSymbol" xlink:label="loc_deiTradingSymbol" />
      <link:presentationArc order="370" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiTradingSymbol" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityExchangeName" xlink:label="loc_deiSecurityExchangeName" />
      <link:presentationArc order="380" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurityExchangeName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12gTitle" xlink:label="loc_deiSecurity12gTitle" />
      <link:presentationArc order="390" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurity12gTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityReportingObligation" xlink:label="loc_deiSecurityReportingObligation" />
      <link:presentationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurityReportingObligation" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AnnualInformationForm" xlink:label="loc_deiAnnualInformationForm" />
      <link:presentationArc order="410" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAnnualInformationForm" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="loc_deiAuditedAnnualFinancialStatements" />
      <link:presentationArc order="420" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAuditedAnnualFinancialStatements" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_deiEntityWellKnownSeasonedIssuer" />
      <link:presentationArc order="430" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityWellKnownSeasonedIssuer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_deiEntityVoluntaryFilers" />
      <link:presentationArc order="440" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityVoluntaryFilers" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_deiEntityCurrentReportingStatus" />
      <link:presentationArc order="450" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityCurrentReportingStatus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityInteractiveDataCurrent" xlink:label="loc_deiEntityInteractiveDataCurrent" />
      <link:presentationArc order="460" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityInteractiveDataCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFilerCategory" xlink:label="loc_deiEntityFilerCategory" />
      <link:presentationArc order="470" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityFilerCategory" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntitySmallBusiness" xlink:label="loc_deiEntitySmallBusiness" />
      <link:presentationArc order="480" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntitySmallBusiness" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_deiEntityEmergingGrowthCompany" />
      <link:presentationArc order="490" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityEmergingGrowthCompany" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityExTransitionPeriod" xlink:label="loc_deiEntityExTransitionPeriod" />
      <link:presentationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityExTransitionPeriod" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAccountingStandard" xlink:label="loc_deiDocumentAccountingStandard" />
      <link:presentationArc order="510" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentAccountingStandard" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_OtherReportingStandardItemNumber" xlink:label="loc_deiOtherReportingStandardItemNumber" />
      <link:presentationArc order="520" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiOtherReportingStandardItemNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityShellCompany" xlink:label="loc_deiEntityShellCompany" />
      <link:presentationArc order="530" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityShellCompany" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityPublicFloat" xlink:label="loc_deiEntityPublicFloat" />
      <link:presentationArc order="540" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityPublicFloat" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="loc_deiEntityBankruptcyProceedingsReportingCurrent" />
      <link:presentationArc order="550" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityBankruptcyProceedingsReportingCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_deiEntityCommonStockSharesOutstanding" />
      <link:presentationArc order="560" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityCommonStockSharesOutstanding" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="loc_deiDocumentsIncorporatedByReferenceTextBlock" />
      <link:presentationArc order="570" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentsIncorporatedByReferenceTextBlock" xlink:type="arc" />
    </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>tm2418611d1_ex99-1img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2418611d1_ex99-1img001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1" !K ,@# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$  P$! 0$!
M 0$! 0        $" P0%!@<("0H+_\0 M1$  @$"! 0#! <%! 0  0)W  $"
M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#^_"BBB@ H
MHHH **** "BBB@ /0]ZYO7?%OA[PO82ZIXEUC3-!TV'8)+[5;ZWLK8.^S;&)
M)F4&3]["2G4"5,9+ 'I#T/?BOS;_ ."@'R:/\-?F;_2=:\2S2A7<!WCTK0K>
M)P%8#(B1% Q@'<V-S,3^=>*_&F+\.^ >).,\%@\/F6)R3 TJM#+\36>'HUZU
M?'X/#*=6M'WXTZ5.M4<E&R;<6VK'?EF$688^A@>;D==O]YK[JCJ[+9NW<^RO
M!GQQ^&/Q#UN[\/>"O%%MXAU.QT]M3N5L;34Q:+9I-' \D6H3V$-G<,LDBC9;
MS2L<@\#FN4^,_P"T5X7^"5SX?MO$FCZ_J+^)8]6GL?['BTV01V^C-IR7TLYO
M-1M0-IU*':G#':X Z$_FS^R9\3O!'PL\<>)=?\=:VN@:=>>%1IUK<KI6L:C]
MHO1J5I*D;0Z)8W4C2^2LI1I@A8$A<Y-;W[5_Q:\$_&/4? T_P^OM8UB#0(/%
M4&I2_P!@:SIB))K%YX<-@\'VRP8R*W]FZF)"UO&"50NF8P3_ #?6^DIFV-\&
MLUXLPF8\(87Q$CFU3#95PIEN+PF:UYX6.?8+ QA*ABIR<ZBPE>;J.2]HW)."
M4U ^GI\+4HYY3P55XZIE<^7VN8T:#E3H-TTY14E&TOWB<=;V;<7:R/T-^#'[
M0?A?XVMXD'AK2]=L&\,+H<E]'K-M:0F1=??68K)K1[.]O(Y@@T2=I\LI7SHP
MH.&*]/XM^.'PP\!:_:^&O&7BNQ\.:M>V<5];1ZC!J*6<MO-,T"-_:D5E-IL3
MF1&!CGNH9!@G9M&ZOS+_ &2OB_X(^#-U\1#\0K[6-&7Q0O@9-),/A[7M46>7
M1Y/%2:M<2/963;<-KVG$@0*J[LA&)&WF?VK_ (D^#?B?X^T77? NMKK>EV_A
M2UTZ:[CTW6-+:&Y6_O)GMPNLZ?ITS, X=VM%EC5RR-*) 13J_26S3*/!S)>+
M\5C^#LUX[JXW!TLSX<Q>-PW#]9T:N8<1T,3&&4SJQS*-6EALLPLX^Q@[<E2I
M5DH.HFH\+4JF>8G!*6,P^7P=54\57HN,(RC33I1G-P^*I4;IQ3DKM:7;=OV7
MT;Q'HWB*RBU/0=1L]8TV<$PZAIUW;7EI*4D1'59;>64"1!(CM&VUU# $ YQN
M5\!_L%2/_P *V\5HS%HD\<R^7&S$K&\FA:6TC+GY@TSH'E)8F23+N2Q-??E?
MTQX9<75^/.!>%^+\3AJ.!KY_DN"S"O@*%5UZ6%Q%7ZQ&K&G6DE.=.HZ<)P4O
MA2LFT[GRV88:."QN)P<:BJ_5ZG)SK3F3U3MZ!1117WAQA1110 4444 %%%%
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M$0Q>:8S%4U^[K3C.#;ULXZIKI9Z>?1A1117Z2>>%%%% !1110 4444 %%%%
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MOX@?$#XB_$7Q5J,GA+X;_#KPS/K>CZ'J.O70UG5-0UG4_L_A_3-9;3=7N-/
M/G[_ (*'?\$./V,O^"F_Q8\(_&#]IGQ!\?I_$?@3X?GX?>$]+^'OQ2T_P?X3
MTG0SK$^NW-VFDMX/UR8:MK&IZC-+K&J_:V,Z0:>TMHHM+66W_4?X%_!WX?\
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2,#A2  5Z$<8Q3Z "BBB@#__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>12
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.24.2</span><table class="report" border="0" cellspacing="2" id="idm140288804098832">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Jul. 02, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Jul.  02,  2024<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-35972<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">BRAEMAR
HOTELS & RESORTS INC.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001574085<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">46-2488594<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">MD<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">14185
    Dallas Parkway<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Suite 1200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Dallas<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">TX<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">75254<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">972<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">490-9600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember', window );">Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">BHR<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesBPreferredStockMember', window );">Series B Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Preferred Stock, Series B<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">BHR-PB<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesDPreferredStockMember', window );">Series D Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Preferred Stock, Series D<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">BHR-PD<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesBPreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_SeriesBPreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesDPreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_SeriesDPreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>13
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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M=]W3CHG&K=!X#;[Q3X?#KHG&J]!TZVDF)_VN:Z3I%FA"1N/K>A(5M>5 TR
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M!Z.:60F]A%9JGZJ'-#ZH'C(*!?&Y'C[E>G@*-Y;&O%"N@GL!_]':-\*K^(+
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MU4#E/]O4#6CV#30<D05>,9FV-J/D3@H\W/[O#;#"Q([A[8N_ 5!+ P04
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M#RP/9'I;K?%NXQ/R^AQ@/7UM0K"=XI.([12O-2#QNH%'GL>[C>4!#ZP+V.Q
M_G@>F*FX3YI"5S%NV G&D3S'$)C%^(QF&5*=##[Q_F"G)$WS/(X %F>0IA@"
MIQ%', ;  4/2='@//GL?)=-[*CG_5U/\!%!+ P04    " !8B^)8EXJ[',
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MZ8Y>9WK_,'G4'EKG5LJ]AU>RY1AQ_)[E#U!+ P04    " !8B^)8)!Z;HJT
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M2P$"% ,4    " !8B^)8!T%-8H$   "Q    $               @ $
M9&]C4')O<',O87!P+GAM;%!+ 0(4 Q0    ( %B+XEB(ML]:[P   "L"   1
M              "  :\   !D;V-0<F]P<R]C;W)E+GAM;%!+ 0(4 Q0    (
M %B+XEB97)PC$ 8  )PG   3              "  <T!  !X;"]T:&5M92]T
M:&5M93$N>&UL4$L! A0#%     @ 6(OB6&"V!I@E!0  V!@  !@
M     ("!#@@  'AL+W=O<FMS:&5E=',O<VAE970Q+GAM;%!+ 0(4 Q0    (
M %B+XEB?H!OPL0(  .(,   -              "  6D-  !X;"]S='EL97,N
M>&UL4$L! A0#%     @ 6(OB6)>*NQS     $P(   L              ( !
M11   %]R96QS+RYR96QS4$L! A0#%     @ 6(OB6*K$(A8S 0  (@(   \
M             ( !+A$  'AL+W=O<FMB;V]K+GAM;%!+ 0(4 Q0    ( %B+
MXE@D'INBK0   /@!   :              "  8X2  !X;"]?<F5L<R]W;W)K
M8F]O:RYX;6PN<F5L<U!+ 0(4 Q0    ( %B+XEAED'F2&0$  ,\#   3
M          "  7,3  !;0V]N=&5N=%]4>7!E<UTN>&UL4$L%!@     )  D
*/@(  +T4      $!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>14
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>15
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>17
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.24.2</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>4</ContextCount>
  <ElementCount>23</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>3</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>3</UnitCount>
  <MyReports>
    <Report instance="tm2418611d1_8k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>00000001 - Document - Cover</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://ahpreit.com/role/Cover</Role>
      <ShortName>Cover</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File>bhr-20240702.xsd</File>
    <File>bhr-20240702_def.xml</File>
    <File>bhr-20240702_lab.xml</File>
    <File>bhr-20240702_pre.xml</File>
    <File doctype="8-K" isOnlyDei="true" isUsgaap="true" original="tm2418611d1_8k.htm">tm2418611d1_8k.htm</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy items="29">http://xbrl.sec.gov/dei/2023</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>false</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>19
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "version": "2.2",
 "instance": {
  "tm2418611d1_8k.htm": {
   "nsprefix": "bhr",
   "nsuri": "http://ahpreit.com/20240702",
   "dts": {
    "schema": {
     "local": [
      "bhr-20240702.xsd"
     ],
     "remote": [
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/2006/ref-2006-02-27.xsd",
      "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd",
      "https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd",
      "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd",
      "https://www.xbrl.org/dtr/type/2022-03-31/types.xsd",
      "https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd",
      "https://xbrl.fasb.org/srt/2023/elts/srt-roles-2023.xsd",
      "https://xbrl.fasb.org/srt/2023/elts/srt-types-2023.xsd",
      "https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd",
      "https://xbrl.fasb.org/us-gaap/2023/elts/us-roles-2023.xsd",
      "https://xbrl.fasb.org/us-gaap/2023/elts/us-types-2023.xsd",
      "https://xbrl.sec.gov/country/2023/country-2023.xsd",
      "https://xbrl.sec.gov/dei/2023/dei-2023.xsd"
     ]
    },
    "definitionLink": {
     "local": [
      "bhr-20240702_def.xml"
     ]
    },
    "labelLink": {
     "local": [
      "bhr-20240702_lab.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "bhr-20240702_pre.xml"
     ]
    },
    "inline": {
     "local": [
      "tm2418611d1_8k.htm"
     ]
    }
   },
   "keyStandard": 23,
   "keyCustom": 0,
   "axisStandard": 1,
   "axisCustom": 0,
   "memberStandard": 3,
   "memberCustom": 0,
   "hidden": {
    "total": 2,
    "http://xbrl.sec.gov/dei/2023": 2
   },
   "contextCount": 4,
   "entityCount": 1,
   "segmentCount": 3,
   "elementCount": 66,
   "unitCount": 3,
   "baseTaxonomies": {
    "http://xbrl.sec.gov/dei/2023": 29
   },
   "report": {
    "R1": {
     "role": "http://ahpreit.com/role/Cover",
     "longName": "00000001 - Document - Cover",
     "shortName": "Cover",
     "isDefault": "true",
     "groupType": "document",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "1",
     "firstAnchor": {
      "contextRef": "AsOf2024-07-02",
      "name": "dei:DocumentType",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "b",
       "span",
       "p",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "tm2418611d1_8k.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "AsOf2024-07-02",
      "name": "dei:DocumentType",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "b",
       "span",
       "p",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "tm2418611d1_8k.htm",
      "first": true,
      "unique": true
     }
    }
   },
   "tag": {
    "dei_AmendmentDescription": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "AmendmentDescription",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amendment Description",
        "documentation": "Description of changes contained within amended document."
       }
      }
     },
     "auth_ref": []
    },
    "dei_AmendmentFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "AmendmentFlag",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amendment Flag",
        "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission."
       }
      }
     },
     "auth_ref": []
    },
    "dei_AnnualInformationForm": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "AnnualInformationForm",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Annual Information Form",
        "documentation": "Boolean flag with value true on a form if it is an annual report containing an annual information form."
       }
      }
     },
     "auth_ref": [
      "r14"
     ]
    },
    "dei_AuditedAnnualFinancialStatements": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "AuditedAnnualFinancialStatements",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Audited Annual Financial Statements",
        "documentation": "Boolean flag with value true on a form if it is an annual report containing audited financial statements."
       }
      }
     },
     "auth_ref": [
      "r14"
     ]
    },
    "dei_CityAreaCode": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "CityAreaCode",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "City Area Code",
        "documentation": "Area code of city"
       }
      }
     },
     "auth_ref": []
    },
    "us-gaap_ClassOfStockDomain": {
     "xbrltype": "domainItemType",
     "nsuri": "http://fasb.org/us-gaap/2023",
     "localname": "ClassOfStockDomain",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "auth_ref": []
    },
    "us-gaap_CommonStockMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://fasb.org/us-gaap/2023",
     "localname": "CommonStockMember",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Common Stock [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "dei_CountryRegion": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "CountryRegion",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Country Region",
        "documentation": "Region code of country"
       }
      }
     },
     "auth_ref": []
    },
    "dei_CoverAbstract": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "CoverAbstract",
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Cover page."
       }
      }
     },
     "auth_ref": []
    },
    "dei_CurrentFiscalYearEndDate": {
     "xbrltype": "gMonthDayItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "CurrentFiscalYearEndDate",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Current Fiscal Year End Date",
        "documentation": "End date of current fiscal year in the format --MM-DD."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentAccountingStandard": {
     "xbrltype": "accountingStandardItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentAccountingStandard",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Accounting Standard",
        "documentation": "The basis of accounting the registrant has used to prepare the financial statements included in this filing This can either be 'U.S. GAAP', 'International Financial Reporting Standards', or 'Other'."
       }
      }
     },
     "auth_ref": [
      "r13"
     ]
    },
    "dei_DocumentAnnualReport": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentAnnualReport",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Annual Report",
        "documentation": "Boolean flag that is true only for a form used as an annual report."
       }
      }
     },
     "auth_ref": [
      "r11",
      "r13",
      "r14"
     ]
    },
    "dei_DocumentFiscalPeriodFocus": {
     "xbrltype": "fiscalPeriodItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentFiscalPeriodFocus",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Fiscal Period Focus",
        "documentation": "Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentFiscalYearFocus": {
     "xbrltype": "gYearItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentFiscalYearFocus",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Fiscal Year Focus",
        "documentation": "This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentInformationLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentInformationLineItems",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Information [Line Items]",
        "documentation": "Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentPeriodEndDate": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentPeriodEndDate",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Period End Date",
        "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentPeriodStartDate": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentPeriodStartDate",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Period Start Date",
        "documentation": "The start date of the period covered in the document, in YYYY-MM-DD format."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentQuarterlyReport": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentQuarterlyReport",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Quarterly Report",
        "documentation": "Boolean flag that is true only for a form used as an quarterly report."
       }
      }
     },
     "auth_ref": [
      "r12"
     ]
    },
    "dei_DocumentRegistrationStatement": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentRegistrationStatement",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Registration Statement",
        "documentation": "Boolean flag that is true only for a form used as a registration statement."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "dei_DocumentShellCompanyEventDate": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentShellCompanyEventDate",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Shell Company Event Date",
        "documentation": "Date of event requiring a shell company report."
       }
      }
     },
     "auth_ref": [
      "r13"
     ]
    },
    "dei_DocumentShellCompanyReport": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentShellCompanyReport",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Shell Company Report",
        "documentation": "Boolean flag that is true for a Shell Company Report pursuant to section 13 or 15(d) of the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r13"
     ]
    },
    "dei_DocumentTransitionReport": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentTransitionReport",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Transition Report",
        "documentation": "Boolean flag that is true only for a form used as a transition report."
       }
      }
     },
     "auth_ref": [
      "r15"
     ]
    },
    "dei_DocumentType": {
     "xbrltype": "submissionTypeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentType",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Type",
        "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentsIncorporatedByReferenceTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentsIncorporatedByReferenceTextBlock",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Documents Incorporated by Reference [Text Block]",
        "documentation": "Documents incorporated by reference."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "dei_EntityAddressAddressLine1": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressAddressLine1",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Address Line One",
        "documentation": "Address Line 1 such as Attn, Building Name, Street Name"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressAddressLine2": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressAddressLine2",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Address Line Two",
        "documentation": "Address Line 2 such as Street or Suite number"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressAddressLine3": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressAddressLine3",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Address Line Three",
        "documentation": "Address Line 3 such as an Office Park"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressCityOrTown": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressCityOrTown",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, City or Town",
        "documentation": "Name of the City or Town"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressCountry": {
     "xbrltype": "countryCodeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressCountry",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Country",
        "documentation": "ISO 3166-1 alpha-2 country code."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressPostalZipCode": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressPostalZipCode",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Postal Zip Code",
        "documentation": "Code for the postal or zip code"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressStateOrProvince": {
     "xbrltype": "stateOrProvinceItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressStateOrProvince",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, State or Province",
        "documentation": "Name of the state or province."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityBankruptcyProceedingsReportingCurrent": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityBankruptcyProceedingsReportingCurrent",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Bankruptcy Proceedings, Reporting Current",
        "documentation": "For registrants involved in bankruptcy proceedings during the preceding five years, the value Yes indicates that the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court; the value No indicates the registrant has not.  Registrants not involved in bankruptcy proceedings during the preceding five years should not report this element."
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    },
    "dei_EntityCentralIndexKey": {
     "xbrltype": "centralIndexKeyItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityCentralIndexKey",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Central Index Key",
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityCommonStockSharesOutstanding": {
     "xbrltype": "sharesItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityCommonStockSharesOutstanding",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Common Stock, Shares Outstanding",
        "documentation": "Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityCurrentReportingStatus": {
     "xbrltype": "yesNoItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityCurrentReportingStatus",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Current Reporting Status",
        "documentation": "Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityEmergingGrowthCompany": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityEmergingGrowthCompany",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Emerging Growth Company",
        "documentation": "Indicate if registrant meets the emerging growth company criteria."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityExTransitionPeriod": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityExTransitionPeriod",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Elected Not To Use the Extended Transition Period",
        "documentation": "Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards."
       }
      }
     },
     "auth_ref": [
      "r19"
     ]
    },
    "dei_EntityFileNumber": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityFileNumber",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity File Number",
        "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityFilerCategory": {
     "xbrltype": "filerCategoryItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityFilerCategory",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Filer Category",
        "documentation": "Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityIncorporationStateCountryCode": {
     "xbrltype": "edgarStateCountryItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityIncorporationStateCountryCode",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Incorporation, State or Country Code",
        "documentation": "Two-character EDGAR code representing the state or country of incorporation."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityInteractiveDataCurrent": {
     "xbrltype": "yesNoItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityInteractiveDataCurrent",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Interactive Data Current",
        "documentation": "Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files)."
       }
      }
     },
     "auth_ref": [
      "r16"
     ]
    },
    "dei_EntityPrimarySicNumber": {
     "xbrltype": "sicNumberItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityPrimarySicNumber",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Primary SIC Number",
        "documentation": "Primary Standard Industrial Classification (SIC) Number for the Entity."
       }
      }
     },
     "auth_ref": [
      "r14"
     ]
    },
    "dei_EntityPublicFloat": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityPublicFloat",
     "crdr": "credit",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Public Float",
        "documentation": "The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityRegistrantName": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityRegistrantName",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Registrant Name",
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityShellCompany": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityShellCompany",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Shell Company",
        "documentation": "Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntitySmallBusiness": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntitySmallBusiness",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Small Business",
        "documentation": "Indicates that the company is a Smaller Reporting Company (SRC)."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityTaxIdentificationNumber": {
     "xbrltype": "employerIdItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityTaxIdentificationNumber",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Tax Identification Number",
        "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityVoluntaryFilers": {
     "xbrltype": "yesNoItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityVoluntaryFilers",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Voluntary Filers",
        "documentation": "Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityWellKnownSeasonedIssuer": {
     "xbrltype": "yesNoItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityWellKnownSeasonedIssuer",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Well-known Seasoned Issuer",
        "documentation": "Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A."
       }
      }
     },
     "auth_ref": [
      "r17"
     ]
    },
    "dei_Extension": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "Extension",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Extension",
        "documentation": "Extension number for local phone number."
       }
      }
     },
     "auth_ref": []
    },
    "dei_LocalPhoneNumber": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "LocalPhoneNumber",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Local Phone Number",
        "documentation": "Local phone number for entity."
       }
      }
     },
     "auth_ref": []
    },
    "dei_NoTradingSymbolFlag": {
     "xbrltype": "trueItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "NoTradingSymbolFlag",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "No Trading Symbol Flag",
        "documentation": "Boolean flag that is true only for a security having no trading symbol."
       }
      }
     },
     "auth_ref": []
    },
    "dei_OtherReportingStandardItemNumber": {
     "xbrltype": "otherReportingStandardItemNumberItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "OtherReportingStandardItemNumber",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Other Reporting Standard Item Number",
        "documentation": "\"Item 17\" or \"Item 18\" specified when the basis of accounting is neither US GAAP nor IFRS."
       }
      }
     },
     "auth_ref": [
      "r13"
     ]
    },
    "dei_PreCommencementIssuerTenderOffer": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "PreCommencementIssuerTenderOffer",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Pre-commencement Issuer Tender Offer",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r7"
     ]
    },
    "dei_PreCommencementTenderOffer": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "PreCommencementTenderOffer",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Pre-commencement Tender Offer",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r8"
     ]
    },
    "dei_Security12bTitle": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "Security12bTitle",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Title of 12(b) Security",
        "documentation": "Title of a 12(b) registered security."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "dei_Security12gTitle": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "Security12gTitle",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Title of 12(g) Security",
        "documentation": "Title of a 12(g) registered security."
       }
      }
     },
     "auth_ref": [
      "r5"
     ]
    },
    "dei_SecurityExchangeName": {
     "xbrltype": "edgarExchangeCodeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "SecurityExchangeName",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Security Exchange Name",
        "documentation": "Name of the Exchange on which a security is registered."
       }
      }
     },
     "auth_ref": [
      "r4"
     ]
    },
    "dei_SecurityReportingObligation": {
     "xbrltype": "securityReportingObligationItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "SecurityReportingObligation",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Security Reporting Obligation",
        "documentation": "15(d), indicating whether the security has a reporting obligation under that section of the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r9"
     ]
    },
    "us-gaap_SeriesBPreferredStockMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://fasb.org/us-gaap/2023",
     "localname": "SeriesBPreferredStockMember",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Series B Preferred Stock [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "us-gaap_SeriesDPreferredStockMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://fasb.org/us-gaap/2023",
     "localname": "SeriesDPreferredStockMember",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Series D Preferred Stock [Member]"
       }
      }
     },
     "auth_ref": []
    },
    "dei_SolicitingMaterial": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "SolicitingMaterial",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Soliciting Material",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r10"
     ]
    },
    "us-gaap_StatementClassOfStockAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://fasb.org/us-gaap/2023",
     "localname": "StatementClassOfStockAxis",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Class of Stock [Axis]"
       }
      }
     },
     "auth_ref": []
    },
    "us-gaap_StatementTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://fasb.org/us-gaap/2023",
     "localname": "StatementTable",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Statement [Table]"
       }
      }
     },
     "auth_ref": []
    },
    "dei_TradingSymbol": {
     "xbrltype": "tradingSymbolItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "TradingSymbol",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Trading Symbol",
        "documentation": "Trading symbol of an instrument as listed on an exchange."
       }
      }
     },
     "auth_ref": []
    },
    "dei_WrittenCommunications": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "WrittenCommunications",
     "presentation": [
      "http://ahpreit.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Written Communications",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act."
       }
      }
     },
     "auth_ref": [
      "r18"
     ]
    }
   }
  }
 },
 "std_ref": {
  "r0": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12"
  },
  "r1": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b"
  },
  "r2": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r3": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b-23"
  },
  "r4": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "d1-1"
  },
  "r5": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "g"
  },
  "r6": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12, 13, 15d"
  },
  "r7": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r8": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r9": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "15",
   "Subsection": "d"
  },
  "r10": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Section": "14a",
   "Number": "240",
   "Subsection": "12"
  },
  "r11": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 10-K",
   "Number": "249",
   "Section": "310"
  },
  "r12": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 10-Q",
   "Number": "240",
   "Section": "308",
   "Subsection": "a"
  },
  "r13": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 20-F",
   "Number": "249",
   "Section": "220",
   "Subsection": "f"
  },
  "r14": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 40-F",
   "Number": "249",
   "Section": "240",
   "Subsection": "f"
  },
  "r15": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Forms 10-K, 10-Q, 20-F",
   "Number": "240",
   "Section": "13",
   "Subsection": "a-1"
  },
  "r16": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-T",
   "Number": "232",
   "Section": "405"
  },
  "r17": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "405"
  },
  "r18": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "425"
  },
  "r19": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "7A",
   "Section": "B",
   "Subsection": "2"
  }
 }
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>20
<FILENAME>0001104659-24-077431-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001104659-24-077431-xbrl.zip
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M9]^P>TQ!/?BZ$>C8N9I:_@%02P,$%     @ 6(OB6&DNE%WN"   =6L  !0
M  !B:'(M,C R-# W,#)?9&5F+GAM;-5=75/C.!9]WZKY#][L<\@'S<PTT^P4
M!)A*37?#$J9G9U\HQ582%;*4DF1(_OU(_@BVHVL[LR!&/$!BWRN=>XXLZ=J2
M^?3S)J;!$Q:2<';6&QT->P%F(8\(6Y[U?IOUSV>3Z;072(58A"AG^*S'>._G
M?W_WCT#_?/IGOQ]<$TRCT^"2A_TI6_"?@J\HQJ?!+YAA@107/P7?$$W,$7Y-
M*!;!A,=KBA76)[**3X.3H_$X#/K]#N5^PRSBXK>[Z:[<E5)K>3H8/#\_'S'^
MA)ZY>)1'(8^[%3A32"5R5]IP,\Q_,O=/E+#'4_-KCB0.-%],GFXD.>N9>O-J
MGX^/N%@.QL/A:/#?+Y]GX0K'J$^8X2W$O<++E&+S&WW\^'&0GBU,]RPW<T&+
M.HX'!9Q=R?ILI'8.9>.307:R;$H:BBZ!EN14II%\YB%2:0MI112 %N9;OS#K
MFT/]T;A_/#K:R*A7Z)22+3C%=W@1F+]:Z%VM:+46F"@C[<"<&TRX;KH::.JU
M$GAQUINOA"Y[_&'XPW!L2OY7Q49MU[H%2V(:8"\85&I%(BPJMAF7*P%B+*@V
MP9VDE:]T$2),YK@?D1@ST]A[05Y1.;)=*82I@38=Y#8#:P%OCWM763_B,2('
M@M[W=H XK:D?XWANY#X(;M7U[;$B2@]#F#J\/2[&U?FAT H?IVT2+U!"U5]N
ME(5[%;,^3!@QW=QG_;6"&V^4'G5P5" W!7;LE111QC8?4D9!WXP_B8:B],?,
M,D=1X* \K%1.3>?+Q3YKL@A7XO!HR9\&$2::NO&Q^6 ZP>.,-TP>BCK-N"=B
ME >)IPK'LBB8HCFF:74/VJ798_!_8UX@.4]U2F1_B= Z XZIDL61EPCR P]F
MI,8&U#V:OS2C$N[<L&Y71_NB]+DH<.?-I..UF+7-TY SI=O&%4UKT^T;+\V'
M ME"\+@CH3EYO#&.,L,:3B_@(L)"3]N&+X@HES@ZZRF16 )W+-.$(BEO%C/%
MP\?S#;&UM'JD^RZO*IYU.*V+U<P^(!$4JT6M]]*E#/$R'Y@A06RVKZK$_ARA
M30:08=Z*'))B//13BX>1!?AKR5&,CH?V<:^F5QH=)-GQ^TG&XYBS%.>7?*H(
M*E8W?0/!JI-60(R&BX%W0 QV8>_6A\VP(%A>W.K2L! XZB1'@].#K0OX.PG3
MAAWLVMY9HLN_(I'5Z<%VR?_])(*Q@UW9JTC4??)_KTMLGNP;BX<3QW0?.#>V
MP848?I6QHIW@<PTF,H"N*5K:&:Z8>$#Q/MXWG<X>P/$EEJ$@:U6:N@-4ERQ]
M8KP.&^SAW?8>=WA)I!)I'+LY7G-W8G7Q0(IV_&"7[E:3<\821._PFHL6*<J6
M'BFP!QLB_H-;XO^3(*&PH-LNW->,/:+?AAQ2X,3Q9$8@G:^:0+I(4+?V2 ,K
M=$B$[]V*,%MA2LWC7,0Z70G[]AX) 8"'I/CA_:2X>C+3"#U>=5=CY^*I(%7\
MD"8_NM7D5B>&7*>#NA-M5Z-F[)$.-N20 A_?0X$K%G7E/S?UCOTR[J;'1"[)
MOR8R1#3#=ZV/M3QIW#/W2 0[]K>]?7JH$']@)#K+L#/V3H0J<E "1]GS)!&B
M JVQ+X*L/1"A$3JH@J-\^8HIHK9F]>'7!+@/K<WJ5AZP;H4,LNTH2<Y %3=/
MF#+++)L8KUIZP[H%-LB\H^0X S;1D0A$IRS"FU_QMHGZFJDWW-MP@^0[2HHS
M9+>"Q$AL9R1L[VKJMM[0;P4.\N\H$\Z@W:/---+QD 7)UBRWRP"X>*-&$WY0
M%$>I<(9PRD(NUKQT)WW"$WT%;R<\:AP:&AV]$:@]"E F1_ERAO,\B@26,O]C
MXAHUB6,Q]T82"#OXL,U1[@RA&Q\FQ-AC(<;-0CC*G2%TQX<)<>RQ$,?-0CC*
MH"OH)OKCC;CGS\"S?\#8-Q%JR$$)G*;/.;9T_+H1MX(_D6R;6)L.-0_?Q+#!
M!Q5QFF(7K26;3'2Y(C)+WQ0HPP:9=YIBY\!NN52(_H^LV^:Q-GO?5-@'#VKA
M*./.VX6Y$0,M!JN8>,#X/EZ09$=IM1F+S@5&<!,O6_A <1TNR+"C'/DS-\^.
M5IPUWIVN6WG M!4RR+:K5-?LY91@A[$[[0&_5:P0L:^S8Z:=V-\%41J/V4F2
ML/Q.%/"LT6KJ >$P;I!\1^GJC%,2:I[8\HN>K0J"J)WY?3L/: = @YP[RDQO
M!38M >ND(%VH9[:(BYO% NK!87L/-&@!#VKA*$6MP9M*F6!QJ")[7O[I8@\!
M5,=1NCK#8:*[SNUH/+\W[T, ^J::E0?L6R&#;#M*4;_R>X',&YQFVWC.*;PI
MR6+H ><0:I!V1]EH!96=\(J)!U3OXP5)=I2-%A?<U29<(;;$\-H2FZ4'E(.P
M0>8=9:DO7=VR4Q^^]*\/7W;HPQUEJ06H;*.!O@9OYI0L$;SKL<'!(PT@]) <
M'USM\$WWH96"N=8?[$)833V0 ,8-DN]JZV\2$86C#. U88B%.@7<;<@$[C&T
M>?D@29<00'6</I_]'5/Z*^//;(:1Y Q'62+2]$P$</% EW;\H"A.G]A^XS1A
M"HET@;  KA.KJ3<BV'"#Y#M].)LOB-^-:-EK9ILTL'MX(T4#?% 1IP]MITQA
M@4)%GO E4BC'VZ2(W<,;11K@@XHX72R=7K03/9PM>?/ZA8JA-_SOHP9I=[I&
M>A8C2B\2J0.0C3U2Q= ;VO=1@[0[705]%6.QU!WC+X(_JU6^<;F)?JN#-S+
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M* 3)4ESO+V]NNN:?^&:]B?^UP 7A6_X#4$L#!!0    ( %B+XEBP]<QE/P@
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M21Y2CS#$8IW9;79$6FXA5)>"^A%"9@O5P,O3C:^8T@^,S]D (\D93O(4P_6
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M4T'(W*Q,8$&T$A0Q)U@!XRYSAZ*#\;#.#$"XYVH=</NAYYMG9;B(:O%XVQ0
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MEACB,G!)=[X[L+V^@Q,/_+@7 6E%;C""MP3O)<TH-]' ]B[OOC=%JL#M(.S
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M300;R2-[\!>LT2,J@R4")-'$]YCJ$#S''\Z<$;D>0EQZ-A-"/FL[KMH7$+>
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MG\.P8F]/>BT_5>M7:4_<7N1/X)7#B?;K[?7\*/+''\0;?-;S Y#,^AEMESB
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MF],+73!%/XHKGPP]S;SAT0D9HJ@^@(6!HEEA8$L7QG;LV+O/2!A+2*'^5*2
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MC-39%3MI4DEMC:*&:BZQB--VZYPIXTL9\ &8;S1$_@#B'- $RRXMG4J]:98
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MP/1Y4%]R1"]_:7ZH-=B'Z7NWI$C*7@6JHVA^[U ,L.ZAHX2Z?B=81^;A>+#
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MH$(.8DH@&K!=A3_KK$9+S<:Z).9#WN'5$M4*6+(B5BY!H,5CNL(=Q&9161B
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M(PQ3J'*S#*.DYC+^:E0:Q(*7;HA?(BTFA6&'%&Y+$3^Z\48ZZ)D@T]5W'PV
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MM9)^W@8Q((B N4X=Z _PAM_7)7T15F$80A7/ 6-49L<X+_]!>-*O%0M JI>
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MWA(&I!.!GA_-!D_E:8PI.EOG.J[JS4ZK:8ANZ?UO@(SOL 3/"7AY\,X\\RK
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MX74$$B0J/$TR+(W"5^)O>F\LCAOBK9)QJ.WLOV*8H=E+%0#W0?['C_U7Y-W
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M0&@;DFA.VYW)O"\$(KVBU 6IU4TW3A1:Q?C+1,4C3/['*HI',O3_HX,L/3"
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M9BX9B!BU3A@(I8VRS[/%D6.5SUL"H=@H;8D&[?F?#?, DZH>L+A'))6$6R!
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M/5\?L*%3!4Q0U.B.B)U13>*.7_9X^VQE_XIRQ6=16KJ^P'R<R#0MV4)$L*G
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M$.<#)57'00A10!*T94R0Q51=<THBL3F5E,,!&.2P\O0:CG?K;MGJ8L</3;,
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M(.77#3@+-0J!BV2..O[J.D5K.LG?Z7*0>WE.SNPVL 8-]1<WU.& QJIDL7G
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M&*[O=D)K62H].$F>KVTD-(SF$)N1% PILN;7*D*)^EK;3_#8*E<E,+\H3Z^
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M@:M]?@FSDU5Q#T:*./><+7*\&&Z /=F[;QN'@PW[>#9^_?T%W7TV'AWCXV!
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MP>1N]TW<N?4DQM4Y'-'>:]QC)"3M.M1M,MM*2I*D#PX.EY0842=9[IUYW%K
MM#=N;4?<RANA2\R() G(K;]M;?]+,T.7JP_C;LQ\TJ11SDN]M_GK)*6N!?KR
MQ,.0$KU3.F$ZH_.&B4J*($[#H,YTS8):'Q3Y3;I.*!O!)-=7NSC+O&^JE!#E
MY^H+%=RL3>,-"ID*(0HY<_>^3# 4*VY?)14>?A(X9G>(=2*XM#HYGTK"**IW
M+M9A.L&QGF&>[QR]FM7NUDDAFS=KS\.EY;K,N\^;R2\I]H^6'>AE!7'?YJ;)
MALU%1[CR_BZS9UG@ZO_D&-U@* W,EZL4#WN*H,T^00^1G:\P84: G;NY>N9
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M.<.*%E#9^TA[ NKO#%JJ+#+8X9ATJ;)^ROLZVOF0T*ZR+5/M24W&&Q0NRT/
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M5$W_$88C#X 4'9>$@X,E$+)6_Z06W@SDHRG5=J?XG;'_(WP9)R]'  ,@<.K
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M1[&J<F]=F)W.JO NLP0\ %@-N!A0@M1^&]XOEERMMYK*&_':1JT1R3^GSY4
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MXF_M74$?2$MRQ2T!V!60-TGIX&%5TP(QD[9<8<A]4")SC[:*/4B!Z7S#)X_
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ML#_4*FI]:?)OH8+VP_,K:']C46M+W&_H#R_8O\1 ?[#AOP%02P$"% ,4
M" !8B^)86H1M[CH#  #2#   $               @ $     8FAR+3(P,C0P
M-S R+GAS9%!+ 0(4 Q0    ( %B+XEAI+I1=[@@  '5K   4
M  "  6@#  !B:'(M,C R-# W,#)?9&5F+GAM;%!+ 0(4 Q0    ( %B+XEAI
M&6%[S0L  "&2   4              "  8@,  !B:'(M,C R-# W,#)?;&%B
M+GAM;%!+ 0(4 Q0    ( %B+XEBP]<QE/P@   MF   4              "
M 8<8  !B:'(M,C R-# W,#)?<')E+GAM;%!+ 0(4 Q0    ( %B+XE@9]4#X
M%"4  +#    2              "  ?@@  !T;3(T,3@V,3%D,5\X:RYH=&U0
M2P$"% ,4    " !8B^)8N3TX8BM1  " & ( %@              @ $\1@
M=&TR-#$X-C$Q9#%?97@Q,"TQ+FAT;5!+ 0(4 Q0    ( %B+XEA(CZ1)(2L
M $X# 0 6              "  9N7  !T;3(T,3@V,3%D,5]E>#$P+3(N:'1M
M4$L! A0#%     @ 6(OB6!U?QWXFE   ?Q$# !8              ( !\,(
M '1M,C0Q.#8Q,60Q7V5X,3 M,RYH=&U02P$"% ,4    " !8B^)8.<<VI/\0
M  "W00  %@              @ %*5P$ =&TR-#$X-C$Q9#%?97@Y.2TQ+FAT
7;5!+!08     "0 ) %0"  !]: $    !

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>21
<FILENAME>tm2418611d1_8k_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2023"
  xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:us-gaap="http://fasb.org/us-gaap/2023"
  xmlns:xbrldi="http://xbrl.org/2006/xbrldi"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="bhr-20240702.xsd" xlink:type="simple"/>
    <context id="AsOf2024-07-02">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001574085</identifier>
        </entity>
        <period>
            <startDate>2024-07-02</startDate>
            <endDate>2024-07-02</endDate>
        </period>
    </context>
    <context id="From2024-07-022024-07-02_us-gaap_CommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001574085</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2024-07-02</startDate>
            <endDate>2024-07-02</endDate>
        </period>
    </context>
    <context id="From2024-07-022024-07-02_us-gaap_SeriesBPreferredStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001574085</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesBPreferredStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2024-07-02</startDate>
            <endDate>2024-07-02</endDate>
        </period>
    </context>
    <context id="From2024-07-022024-07-02_us-gaap_SeriesDPreferredStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001574085</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:SeriesDPreferredStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2024-07-02</startDate>
            <endDate>2024-07-02</endDate>
        </period>
    </context>
    <unit id="USD">
        <measure>iso4217:USD</measure>
    </unit>
    <unit id="Shares">
        <measure>shares</measure>
    </unit>
    <unit id="USDPShares">
        <divide>
            <unitNumerator>
                <measure>iso4217:USD</measure>
            </unitNumerator>
            <unitDenominator>
                <measure>shares</measure>
            </unitDenominator>
        </divide>
    </unit>
    <dei:AmendmentFlag contextRef="AsOf2024-07-02" id="Fact000003">false</dei:AmendmentFlag>
    <dei:EntityCentralIndexKey contextRef="AsOf2024-07-02" id="Fact000004">0001574085</dei:EntityCentralIndexKey>
    <dei:DocumentType contextRef="AsOf2024-07-02" id="Fact000010">8-K</dei:DocumentType>
    <dei:DocumentPeriodEndDate contextRef="AsOf2024-07-02" id="Fact000011">2024-07-02</dei:DocumentPeriodEndDate>
    <dei:EntityRegistrantName contextRef="AsOf2024-07-02" id="Fact000012">BRAEMAR HOTELS &amp; RESORTS INC.</dei:EntityRegistrantName>
    <dei:EntityIncorporationStateCountryCode contextRef="AsOf2024-07-02" id="Fact000013">MD</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber contextRef="AsOf2024-07-02" id="Fact000014">001-35972</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber contextRef="AsOf2024-07-02" id="Fact000015">46-2488594</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="AsOf2024-07-02" id="Fact000016">14185     Dallas Parkway</dei:EntityAddressAddressLine1>
    <dei:EntityAddressAddressLine2 contextRef="AsOf2024-07-02" id="Fact000017">Suite 1200</dei:EntityAddressAddressLine2>
    <dei:EntityAddressCityOrTown contextRef="AsOf2024-07-02" id="Fact000018">Dallas</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince contextRef="AsOf2024-07-02" id="Fact000019">TX</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode contextRef="AsOf2024-07-02" id="Fact000020">75254</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="AsOf2024-07-02" id="Fact000021">972</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="AsOf2024-07-02" id="Fact000022">490-9600</dei:LocalPhoneNumber>
    <dei:WrittenCommunications contextRef="AsOf2024-07-02" id="Fact000023">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial contextRef="AsOf2024-07-02" id="Fact000024">true</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer contextRef="AsOf2024-07-02" id="Fact000025">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer contextRef="AsOf2024-07-02" id="Fact000026">false</dei:PreCommencementIssuerTenderOffer>
    <dei:EntityEmergingGrowthCompany contextRef="AsOf2024-07-02" id="Fact000027">false</dei:EntityEmergingGrowthCompany>
    <dei:Security12bTitle
      contextRef="From2024-07-022024-07-02_us-gaap_CommonStockMember"
      id="Fact000028">Common Stock</dei:Security12bTitle>
    <dei:TradingSymbol
      contextRef="From2024-07-022024-07-02_us-gaap_CommonStockMember"
      id="Fact000029">BHR</dei:TradingSymbol>
    <dei:SecurityExchangeName
      contextRef="From2024-07-022024-07-02_us-gaap_CommonStockMember"
      id="Fact000030">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="From2024-07-022024-07-02_us-gaap_SeriesBPreferredStockMember"
      id="Fact000031">Preferred Stock, Series B</dei:Security12bTitle>
    <dei:TradingSymbol
      contextRef="From2024-07-022024-07-02_us-gaap_SeriesBPreferredStockMember"
      id="Fact000032">BHR-PB</dei:TradingSymbol>
    <dei:SecurityExchangeName
      contextRef="From2024-07-022024-07-02_us-gaap_SeriesBPreferredStockMember"
      id="Fact000033">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="From2024-07-022024-07-02_us-gaap_SeriesDPreferredStockMember"
      id="Fact000034">Preferred Stock, Series D</dei:Security12bTitle>
    <dei:TradingSymbol
      contextRef="From2024-07-022024-07-02_us-gaap_SeriesDPreferredStockMember"
      id="Fact000035">BHR-PD</dei:TradingSymbol>
    <dei:SecurityExchangeName
      contextRef="From2024-07-022024-07-02_us-gaap_SeriesDPreferredStockMember"
      id="Fact000036">NYSE</dei:SecurityExchangeName>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
