Greystone Housing Impact Investors LP

06/27/2024 | Press release | Distributed by Public on 06/27/2024 14:31

New Financial Obligation Form 8 K

Item 1.01 Entry into a Material Definitive Agreement.

Fourth Amendment to Amended and Restated Credit Agreement

On June 24, 2024, Greystone Housing Impact Investors LP (the "Partnership") entered into a Fourth Amendment to Amended and Restated Credit Agreement (the "Fourth Amendment") with Bankers Trust Company ("Bankers Trust") which modifies certain provisions of the Amended and Restated Credit Agreement (the "Amended Credit Agreement") between the Partnership and Bankers Trust dated August 23, 2021, as amended by the First Amendment to Amended and Restated Credit Agreement dated April 29, 2022 (the "First Amendment"), the Second Amendment to Amended and Restated Credit Agreement dated July 29, 2022 (the "Second Amendment"), and the Third Amendment to Amended and Restated Credit Agreement dated June 27, 2023 (the "Third Amendment").

The material amendments to the Amended Credit Agreement accomplished by the Fourth Amendment included the modification of the Revolving Loan Maturity Date (as defined in the Amended Credit Agreement) to June 30, 2025 and the addition of a new Financed Asset category defined as taxable or tax-exempt loans secured by master lease agreements guaranteed by Investment Grade Tenants (as defined in the Fourth Amendment), provided that any advance made under such category shall have a repayment date of the 45th day following such advance. In connection with the Fourth Amendment, the Partnership paid Bankers Trust an extension fee in the amount of $25,000.

Revolving Line of Credit Note

In connection with the Fourth Amendment, the Partnership also executed a new Revolving Line of Credit Note (the "Note") payable to the order of Bankers Trust with a commitment amount of up to $50,000,000 dated June 24, 2024, which replaced in its entirety the Revolving Line of Credit Note dated July 29, 2022 made by the Partnership payable to the order of Bankers Trust (the "Prior Note"). The material amendment to the Prior Note accomplished by the Note was an update of the maturity date from June 30, 2024, to June 30 2025.

The foregoing descriptions of the Fourth Amendment and the Note are summaries and are qualified in their entirety by reference to the full text of the Fourth Amendment and the Note, copies of which are attached as Exhibit 10.1 and Exhibit 10.2, respectively, to this Current Report on Form 8-K and incorporated by reference herein.

In addition, the full text of the Amended Credit Agreement, which was attached as Exhibit 10.1 to the Current Report on Form 8-K filed by the Partnership with the Securities and Exchange Commission ("SEC") on August 25, 2021, the First Amendment, which was attached as Exhibit 10.1 to the Current Report on Form 8-K filed by the Partnership with the SEC on April 29, 2022, the Second Amendment, which was attached as Exhibit 10.1 to the Current Report on Form 8-K filed by the Partnership with the SEC on August 1, 2022, and the Third Amendment, which was attached as Exhibit 10.1 to the Current Report on Form 8-K filed by the Partnership with the SEC on June 29, 2023, are incorporated by reference herein.