W I T N E S S E T H:
Exhibit 10.17
THIRD AMENDMENT TO CREDIT AGREEMENT
THIS THIRD AMENDMENT TO CREDIT AGREEMENT ("Amendment") is entered
into as of March 19, 1998 among BEAZER HOMES USA, INC., a Delaware corporation
(the "Borrower"), BEAZER MORTGAGE CORPORATION, a Delaware corporation, BEAZER
HOMES CORP., a Tennessee corporation, BEAZER HOMES SALES ARIZONA INC., a
Delaware corporation, BEAZER REALTY CORP., a Georgia corporation, BEAZER ▇▇▇▇▇▇▇
REALTY, INC., a North Carolina corporation, ▇▇▇▇▇▇ ▇▇▇▇▇ REALTY, Inc., a Florida
corporation, BEAZER HOMES HOLDING CORP., a Delaware corporation, BEAZER TEXAS
HOLDINGS, INC., a Delaware corporation, and BEAZER HOMES TEXAS, L.P., a Delaware
limited partnership (collectively, the "Guarantors") and THE FIRST NATIONAL BANK
OF CHICAGO, BANKBOSTON, N.A. (formerly known as The First National Bank of
Boston), BANK ONE, ARIZONA, N.A., GUARANTY FEDERAL BANK, F.S.B., BANK OF AMERICA
NATIONAL TRUST AND SAVINGS ASSOCIATION (successor by merger to Bank of America
Illinois), AMSOUTH BANK, COMERICA BANK and SUNTRUST BANK (collectively, the
"Banks") and THE FIRST NATIONAL BANK OF CHICAGO as Agent (the "Agent") for the
Banks and as Issuing Bank under the Agreement (as hereinafter defined).
W I T N E S S E T H:
WHEREAS, the Borrower, the Guarantors, the Banks, the Agent and the
Issuing Bank are party to that certain Credit Agreement dated as of October 22,
1996, as amended by First Amendment to Credit Agreement dated as of July 29,
1997 and Second Amendment to Credit Agreement dated as of December 10, 1997
(such Credit Agreement, as so amended, being herein referred to as the
"Agreement") providing for certain loans to be made from time to time by the
Banks to the Borrower not to exceed, at any time outstanding, the principal sum
of $200,000,000; and
WHEREAS, the parties desire to amend the Agreement to increase the
Debt permitted under Section 6.02(B);
NOW, THEREFORE, for good and valuable consideration, the Borrower,
the Guarantors, the Banks, the Agent and the Issuing Bank hereby covenant and
agree as follows:
1. Permitted Debt. Section 6.02(B) is hereby amended by deleting
"$40,000,000" and inserting in lieu thereof "$125,000,000." 2. Ratification. The
Agreement, as amended hereby, is hereby ratified and remains in full force and
effect.
3. Counterparts. This Amendment may be executed in any number of
counterparts and by the different parties to this Amendment in separate
counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same Amendment.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be executed by their respective officers thereunto duly authorize, as of the
date first written.
BORROWER:
BEAZER HOMES USA, INC.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇ ▇. ▇▇▇▇▇
Executive Vice President and
Chief Financial Officer
GUARANTORS:
BEAZER MORTGAGE CORPORATION
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇ ▇. ▇▇▇▇▇
Vice President
BEAZER HOMES SALES ARIZONA INC.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇ ▇. ▇▇▇▇▇
Vice President
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BEAZER REALTY CORP.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇ ▇. ▇▇▇▇▇
Vice President
BEAZER/▇▇▇▇▇▇▇ REALTY, INC.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇ ▇. ▇▇▇▇▇
Vice President
▇▇▇▇▇▇ HOMES REALTY INC.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇ ▇. ▇▇▇▇▇
Vice President
BEAZER HOMES HOLDINGS CORP.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇ ▇. ▇▇▇▇▇
Vice President
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BEAZER TEXAS HOLDINGS, INC.
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇ ▇. ▇▇▇▇▇
Vice President
BEAZER HOMES TEXAS, L.P.
By: BEAZER TEXAS HOLDINGS, INC.
its general partner
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
▇▇▇▇▇ ▇. ▇▇▇▇▇
Vice President
BANKS:
THE FIRST NATIONAL BANK OF CHICAGO,
as a Bank, the Agent and the Issuing Bank
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Vice President
BANK ONE, ARIZONA, N.A.
By:
-----------------------------
Name:
---------------------------
Title:
--------------------------
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GUARANTY FEDERAL BANK, F.S.B.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
BANK OF AMERICA NATIONAL TRUST AND
SAVINGS ASSOCIATION (successor by merger to
Bank of America Illinois)
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Vice President
BANKBOSTON, N.A. (formerly known as The
First National Bank of Boston)
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇
Name: ▇▇▇▇▇ ▇. ▇▇▇▇
Title: Director
AMSOUTH BANK
By: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Title:Vice President
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COMERICA BANK
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
SUNTRUST BANK, ATLANTA
By: /s/ R. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Name: R. ▇▇▇▇▇▇▇ ▇▇▇▇▇
Title: Vice President
By: /s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Name: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: B.O.
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