M.D.C. Holdings, Inc. (NYSE:MDC) Files An 8-K Entry into a Material Definitive AgreementITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
Effective August 10, 2017, HomeAmerican Mortgage Corporation ("HomeAmerican"), a wholly-owned subsidiary of M.D.C. Holdings, Inc., entered into a First Amendment (the “Amendment”) to HomeAmerican’s Amended and Restated Master Repurchase Agreement dated as of September 16, 2016 (the "Repurchase Agreement"), with U.S. Bank National Association. The Amendment: (i) extends the termination date of the Repurchase Agreement to August 9, 2018; and (ii) adjusts the facility fee to 0.15% per annum of the maximum aggregate commitment, as defined in the Repurchase Agreement.
The Amendment is filed herewith and is incorporated by reference.
ITEM 2.03. CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT
The disclosure contained in Item 1.01 is incorporated by reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(d)Exhibits.
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Exhibit Number |
Description |
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Exhibit 10.1 |
First Amendment to Master Repurchase Agreement between HomeAmerican Mortgage Corporation, as Seller, and U.S. Bank National Association, as Agent and Buyer, dated as of August 10, 2017. |
MDC HOLDINGS INC ExhibitEX-10.1 2 ex10-1.htm EXHIBIT 10.1 ex10-1.htm Exhibit 10.1 FIRST AMENDMENT TO AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT THIS FIRST AMENDMENT TO AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT (this “Amendment”),…To view the full exhibit click here
About M.D.C. Holdings, Inc. (NYSE:MDC)
M.D.C. Holdings, Inc. is engaged in two primary operations, such as homebuilding and financial services. The Company’s homebuilding operations consist of subsidiary companies that purchases finished lots or develop lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes. Its homebuilding operations consists of homebuilding divisions that the Company considers to be its operating segments. Its financial services operations consists of HomeAmerican Mortgage Corporation (HomeAmerican), Allegiant Insurance Company, Inc., StarAmerican Insurance Ltd., and American Home Insurance Agency, Inc. The Company’s operating segments include West (includes operating segments located in Arizona, California, Nevada and Washington); Mountain (includes operating segments located in Colorado and Utah), and East (includes operating segments located in Virginia, Florida and Maryland).
