LGI Homes Inc.
10/11/2024 | Press release | Distributed by Public on 10/11/2024 14:34
Material Agreement Form 8 K
Item 1.01 Entry into a Material Definitive Agreement.
On October 9, 2024, LGI Homes, Inc. (the "Company") entered into a Fifth Amendment to Fifth Amended and Restated Credit Agreement with several financial institutions and Wells Fargo Bank, National Association, as administrative agent (the "Credit Agreement Amendment"), which amended the Fifth Amended and Restated Credit Agreement, dated as of April 28, 2021, with several financial institutions and Wells Fargo Bank, National Association, as administrative agent (as amended by amendments thereto dated as of February 22, 2022, April 29, 2022, April 28, 2023, December 5, 2023 and the Credit Agreement Amendment, the "Credit Agreement"). The Credit Agreement Amendment among other things, (a) amended the negative covenant in Section 10.1(g) of the Credit Agreement relating to housing inventory and (b) extended the maturity of the commitments of certain lenders under the Credit Agreement to April 28, 2028. The Credit Agreement matures on April 28, 2028 with respect to $1.085 billion, or 90.0%, of the $1.205 billion of commitments thereunder and on April 28, 2025 with respect to 10.0% of the commitments thereunder.
The description of the Credit Agreement Amendment is qualified in its entirety by reference to the Credit Agreement Amendment, a copy of which is filed as Exhibit 10.1to this Current Report on Form 8-K and incorporated herein by reference.