INTERCREDITOR AGREEMENTIntercreditor Agreement • December 8th, 2008 • Hovnanian Enterprises Inc • Operative builders • New York
This INTERCREDITOR AGREEMENT, dated as of December 3, 2008, and entered into by and among HOVNANIAN ENTERPRISES, INC., K. HOVNANIAN ENTERPRISES, each other Grantor (as defined below) from time to time party hereto, PNC Bank, National Association, as administrative agent (as of the date hereof includes the role of collateral agent) under the Senior Lender Documents (in such capacity(ies), together with any successor or assigns, the “First-Lien Administrative Agent” or “Senior Credit Agent”), Wilmington Trust Company, in its capacity as collateral agent under the Senior Noteholder Collateral Documents (as defined below) (together with its successor and assigns, the “Senior Noteholder Collateral Agent”), the Senior Trustee (as defined below), the Initial Junior Trustee (as defined below), Wilmington Trust Company, in its capacity as collateral agent for the Junior Mortgage Tax Collateral (as defined below) (together with its successors and assigns, the “Mortgage Tax Collateral Agent”), Wi
THIRD LIEN PLEDGE AGREEMENTThird Lien Pledge Agreement • December 8th, 2008 • Hovnanian Enterprises Inc • Operative builders • New York
THIS THIRD LIEN PLEDGE AGREEMENT, dated as of December 3, 2008 (as restated, amended, modified or supplemented from time to time, the “Agreement”), is given by EACH OF THE UNDERSIGNED PARTIES LISTED ON THE SIGNATURE PAGES HERETO AND EACH OF THE OTHER PERSONS AND ENTITIES THAT BECOME BOUND HEREBY FROM TIME TO TIME BY JOINDER, ASSUMPTION OR OTHERWISE (each a “Pledgor” and collectively the “Pledgors”), as a Pledgor of the equity interests in the Companies (as defined herein), as more fully set forth herein, to WILMINGTON TRUST COMPANY, in its capacity as collateral agent, for the benefit of itself, the Junior Trustee (as defined below) and the Junior Noteholders (as defined below) (the “Secured Party”).
K. HOVNANIAN ENTERPRISES, INC., as Issuer HOVNANIAN ENTERPRISES, INC. and the other Guarantors party hereto and WILMINGTON TRUST COMPANY, as Trustee Indenture Dated as of December 3, 2008 18.0% Senior Secured Notes Due 2017Indenture • December 8th, 2008 • Hovnanian Enterprises Inc • Operative builders • New York
INDENTURE, dated as of December 3, 2008, among K. HOVNANIAN ENTERPRISES, INC., a California corporation (the “Issuer”), HOVNANIAN ENTERPRISES, INC., a Delaware corporation (the “Company”), each of the other Guarantors (as defined hereafter) and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as Trustee (the “Trustee”).
THIRD LIEN SECURITY AGREEMENT made by K. HOVNANIAN ENTERPRISES, INC., HOVNANIAN ENTERPRISES, INC. and certain of their respective Subsidiaries in favor of WILMINGTON TRUST COMPANY, as Collateral Agent Dated as of December 3, 2008Third Lien Security Agreement • December 8th, 2008 • Hovnanian Enterprises Inc • Operative builders • New York
THIS THIRD LIEN SECURITY AGREEMENT (the “Agreement”), dated as of December 3, 2008, is made by each of the signatories hereto (together with any other entity that may become a party hereto as provided herein, the “Grantors”), in favor of Wilmington Trust Company, as Collateral Agent (in such capacity, the “Junior Agent”) for the benefit of itself, the Junior Trustee (as defined below) and the Junior Noteholders (as defined below).
INTELLECTUAL PROPERTY SECURITY AGREEMENTIntellectual Property Security Agreement • December 8th, 2008 • Hovnanian Enterprises Inc • Operative builders • New York
This Intellectual Property Security Agreement (the “Agreement”), dated as of December 3, 2008 is made by each of the pledgors signatory hereto (together with any other entity that may become a party hereto as provided herein, each a “Pledgor” and collectively, the “Pledgors”), in favor of Wilmington Trust Company, as Collateral Agent (in such capacity, the “Junior Agent”) for the benefit of itself, the Junior Trustee (as defined below) and the Junior Noteholders (as defined below).
