SEVENTH AMENDMENT dated as of December 22, 2020 (this Agreement) by and among GREEN BRICK PARTNERS, INC. (the Borrower), the NEW LENDER party hereto, the LENDERS party hereto and FLAGSTAR BANK, FSB (Flagstar), as administrative agent (the Administrative Agent), to the CREDIT AGREEMENT dated as of December 15, 2015 (as amended by the First Amendment, dated as of August 31, 2016, the Second Amendment, dated as of December 1, 2016, the Third Amendment, dated as of September 1, 2017, the Fourth Amendment, dated as of December 1, 2017, the Fifth Amendment, dated as of November 2, 2018, and the Sixth Amendment, dated as of December 17, 2019, and as in effect prior to the effectiveness of this Agreement, the Credit Agreement), among the Borrower, the Lenders from time to time party thereto and the Administrative Agent.
WHEREAS, the Lenders have agreed to extend credit to the Borrower under the Credit Agreement on the terms and subject to the conditions set forth therein; capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit Agreement;
WHEREAS, the Borrower and the Lenders party hereto desire that certain provisions of the Credit Agreement be amended as provided herein (as so amended, the Amended Credit Agreement); and
WHEREAS, pursuant to Section 2.22 of the Amended Credit Agreement, the Borrower has requested that the Termination Date be extended from December 14, 2022 to December 14, 2023;
NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION 1. Amendment. Effective as of the Amendment Effective Date (as defined below), the Credit Agreement is hereby amended as follows:
(a) Schedule I to the Credit Agreement shall be replaced with Schedule I attached hereto, which reflects the Revolving Credit Commitments of all Lenders after giving effect to the new Revolving Credit Commitment established on the Amendment Effective Date as set forth on Schedule II hereto (such new Revolving Credit Commitment, the New Commitment), and the applicable Termination Date of the Lenders after giving effect to the Maturity Extension (as defined below).
SECTION 2. Revolving Credit Commitments. (a) As of the Amendment Effective Date, each Lender shall have a Revolving Credit Commitment in the amount set forth opposite such Lenders name on Schedule I hereto and the aggregate principal amount of the Revolving Credit Commitments shall be $265,000,000.