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 XXXXXXX
REALTY, INC., a North Carolina corporation, XXXXXX XXXXX 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/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
Executive Vice President and
Chief Financial Officer
GUARANTORS:
BEAZER MORTGAGE CORPORATION
By: /s/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
Vice President
BEAZER HOMES SALES ARIZONA INC.
By: /s/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
Vice President
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BEAZER REALTY CORP.
By: /s/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
Vice President
BEAZER/XXXXXXX REALTY, INC.
By: /s/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
Vice President
XXXXXX HOMES REALTY INC.
By: /s/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
Vice President
BEAZER HOMES HOLDINGS CORP.
By: /s/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
Vice President
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BEAZER TEXAS HOLDINGS, INC.
By: /s/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
Vice President
BEAZER HOMES TEXAS, L.P.
By: BEAZER TEXAS HOLDINGS, INC.
its general partner
By: /s/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
Vice President
BANKS:
THE FIRST NATIONAL BANK OF CHICAGO,
as a Bank, the Agent and the Issuing Bank
By: /s/ Xxxxxxx X. Xxxxxxx
Name: Xxxxxxx X. Xxxxxxx
Vice President
BANK ONE, ARIZONA, N.A.
By:
-----------------------------
Name:
---------------------------
Title:
--------------------------
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GUARANTY FEDERAL BANK, F.S.B.
By: /s/ Xxxxxxx X. Xxxxxxxx
Name: Xxxxxxx X. Xxxxxxxx
Title: Vice President
BANK OF AMERICA NATIONAL TRUST AND
SAVINGS ASSOCIATION (successor by merger to
Bank of America Illinois)
By: /s/ Xxxxxx X. Xxxxx
Name: Xxxxxx X. Xxxxx
Title: Vice President
BANKBOSTON, N.A. (formerly known as The
First National Bank of Boston)
By: /s/ Xxxxx X. Xxxx
Name: Xxxxx X. Xxxx
Title: Director
AMSOUTH BANK
By: Xxxxx Xxxxxxxx
Name: Xxxxx Xxxxxxxx
Title:Vice President
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COMERICA BANK
By: /s/ Xxxxx X. Xxxxxxxx
Name: Xxxxx X. Xxxxxxxx
Title: Vice President
SUNTRUST BANK, ATLANTA
By: /s/ R. Xxxxxxx Xxxxxx
Name: R. Xxxxxxx Xxxxx
Title: Vice President
By: /s/ Xxxxxxxx X. Xxxxx
Name: Xxxxxxxx X. Xxxxx
Title: B.O.
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