CREDIT AGREEMENTCredit Agreement • September 23rd, 2005 • Avatar Holdings Inc • Operative builders • Florida
THIS CREDIT AGREEMENT (the “Agreement”) dated as of the 20th day of September, 2005, and entered into by and among AVATAR PROPERTIES INC., a Florida corporation (“Borrower”), joined by AVATAR HOLDINGS INC. (“Holdings”), a Delaware corporation (the “Guarantor”), WACHOVIA CAPITAL MARKETS, LLC, as lead arranger (“Arranger”), WACHOVIA BANK, NATIONAL ASSOCIATION, in its capacity as Lender and in its capacity as administrative agent (“Agent”), GUARANTY BANK, in its capacity as Syndication Agent and Lender, FRANKLIN BANK, SSB, a Texas Savings Bank, in its capacity as Lender, and the other financial institutions who are identified on Schedule A hereto or hereafter become parties to this Agreement as Lenders, (each a “Lender” and collectively, the “Lenders”).
GUARANTY AGREEMENTGuaranty Agreement • September 23rd, 2005 • Avatar Holdings Inc • Operative builders • Florida
THIS GUARANTY dated as of September 20, 2005 (together with any amendments or modifications hereto in effect from time to time, the “Guaranty"), made by AVATAR HOLDINGS INC., a Delaware corporation, having an address at 201 Alhambra Circle, 12th Floor, Coral Gables, Florida 33134 (“Guarantor"), in favor of the lending institution(s) identified on Schedule A attached hereto and made a part hereof and such other lending institutions which may become parties hereto pursuant to the “Credit Agreement (as hereinafter defined) (individually, a “Lender” and collectively, the “Lenders”) and WACHOVIA BANK, NATIONAL ASSOCIATION, having an office at 200 East Broward Boulevard, Suite 200, Fort Lauderdale, Florida 33301 (“Agent”).
