Item 1.01 Entry into a Material Definitive Agreement
On December 29, 2022, Landsea Homes Corporation, a Delaware corporation (the
"Company"), and certain of its subsidiaries entered into that certain Sixth
Amendment Agreement (the "Sixth Amendment Agreement") with Western Alliance
Bank, as administrative agent, and the other lender parties thereto, which
amends the Company's existing Credit Agreement dated October 6, 2021 (as amended
on November 30, 2021, December 31, 2021, April 13, 2022, June 30, 2022 and
September 30, 2022, and as may be further amended from time to time, the "Credit
Agreement"), to, among other things, extend the maturity date of the credit
facility by one year (from October 6, 2024 to October 6, 2025), and modify the
calculation of the borrowing base under the Credit Agreement.
The foregoing description of the Sixth Amendment Agreement does not purport to
be complete and is subject to, and qualified in its entirety by reference to the
Sixth Amendment Agreement, a copy of which is filed herewith as Exhibit 10.1,
and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
10.1 Sixth Amendment Agreement, dated December 29, 2022, by and among
Landsea Homes Corporation, as borrower, the other loan parties party
thereto, Western Alliance Bank as administrative agent, and the
lender parties thereto.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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