UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
Current Report
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| Item 1.01. | Entry into a Material Definitive Agreement. |
Effective April 16, 2021, Forestar Group Inc. (the “Borrower”) and JPMorgan Chase Bank, N.A., as administrative agent (“JPMorgan” or “Administrative Agent”) and the Lenders entered into Amendment No. 2 (the “Amendment No. 2”) to the Credit Agreement dated as of August 16, 2018 as amended by Amendment No. 1, dated as of October 2, 2019 (as so amended, the “Credit Agreement”).
Pursuant to the terms of Amendment No. 2, the Administrative Agent and the Lenders party thereto agreed to extend the Revolving Credit Facility Termination Date to April 16, 2025, increase the Aggregate Commitment to $410,000,000 and modify the pricing for outstanding commitments under the Revolving Credit Facility, as set forth on the Pricing Schedule that is attached to Amendment No. 2.
Pursuant to the terms of Amendment No. 2, the Administrative Agent and the Lenders party thereto also agreed to increase the Credit Agreement’s accordion feature to permit the Aggregate Commitment to be increased up to $600,000,000, subject to certain conditions and availability of bank commitments.
The description and terms of Amendment No. 2 provided herein are qualified in their entirety by reference to the full and complete terms contained in Amendment No. 2, which is attached to this Form 8-K as Exhibit 10.1 and incorporated by reference herein. Capitalized terms not defined herein are defined in Amendment No. 2 or as provided therein.
| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
All the information set forth above under Item 1.01 is hereby incorporated by reference into this Item 2.03.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibit |
| 10.1 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document contained in Exhibit 101). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Forestar Group Inc. | ||||||
| Date: April 20, 2021 | By: | /s/ James D. Allen | ||||
| James D. Allen | ||||||
| Executive Vice President, Chief Financial Officer & Treasurer | ||||||
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