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”).
AMENDMENT TO THIRD LIEN PLEDGE AGREEMENTThird Lien Pledge Agreement • December 22nd, 2009 • Hovnanian Enterprises Inc • Operative builders • New York
THIS AMENDMENT, dated as of October 20, 2009 (the “Amendment”) to the Third Lien Pledge Agreement (as defined below) is entered into by and among K. HOVNANIAN ENTERPRISES, INC. (the “Company”), HOVNANIAN ENTERPRISES, INC. (“Hovnanian”), each of the entities listed on Schedule 1 hereto (each a “Pledgor”) and WILMINGTON TRUST COMPANY (as “Collateral Agent”).
