D.R. Horton Inc.
09/03/2024 | Press release | Distributed by Public on 09/03/2024 11:03
Material Agreement Form 8 K
Item 1.01. Entry into a Material Definitive Agreement.
Effective August 29, 2024, DHI Mortgage Company, Ltd. ("DHI Mortgage"),a wholly-owned subsidiary of D.R. Horton, Inc., U.S. Bank National Association, as a buyer, and as administrative agent and other buyers listed as a buyer (collectively, the "Buyers")hereto entered into the Third Amendment (the "Amendment")to the Fourth Amended and Restated Master Repurchase Agreement dated as of February 18, 2022 as amended prior to the date hereof (as so amended, the "Amended Repurchase Facility").
The Amendment extends the term of the Amended Repurchase Facility through the earlier of (i) May 9, 2025 or (ii) the date when the Buyers' commitments are terminated pursuant to the Amended Repurchase Facility, by order of any governmental authority or by operation of law.
The Amended Repurchase Facility provides financing and liquidity to DHI Mortgage by facilitating purchase transactions in which DHI Mortgage transfers eligible loans to Buyers against the transfer of funds by Buyers (thereby becoming purchased loans). The purchase transactions are based on the terms and conditions in the Amended Repurchase Facility and the ancillary or operative agreements attached thereto or referred to therein. Amounts outstanding under the Amended Repurchase Facility are not guaranteed by D.R. Horton, Inc. or any of the subsidiaries that guarantee the debt of its homebuilding, rental or Forestar operations.
The Amendment is filed herewith as Exhibit 10.1 and is incorporated by reference into this Item 1.01. Capitalized terms not defined herein are defined in the Amended Repurchase Facility or as provided therein.