Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Century Communities, Inc. amended First Modification Agreement with Texas Capital Bank valued at Amendment replaces LIBOR reference rate with Term SOFR reference rate effective January 3, 2023. (effective 2022-12-21).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Texas Capital Bank
- Value
- Amendment replaces LIBOR reference rate with Term SOFR reference rate effective January 3, 2023.
- Effective
- 2022-12-21
Exact text from the filing
On December 21, 2022, Century Communities, Inc. (the “Company”), as borrower, and certain subsidiaries of the Company, as guarantors, entered into a First Modification Agreement (the “Amendment”) with Texas Capital Bank (formerly known as Texas Capital Bank, National Association), as Administrative Agent, amending the Second Amended and Restated Credit Agreement, dated as of May 21, 2021, among the Company, Texas Capital Bank, as Administrative Agent, and certain other financial institutions party thereto (as amended, supplemented or otherwise modified from time to time, including by the Amendment, the “Credit Agreement”). The Amendment, among other things, replaced the option to borrow at an interest rate based on a LIBOR reference rate to one based on a Term SOFR reference rate effective as of January 3, 2023.
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