Exhibit 10.13
THIRD AMENDMENT TO CREDIT AGREEMENT
This THIRD AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is made as
of the 27th day of October, 2003, by and among PULTE MORTGAGE LLC, a Delaware
limited liability company (the "Borrower"), BANK ONE, NA, as agent under the
"Credit Agreement" (as defined below) (the "Agent") and WASHINGTON MUTUAL BANK,
FA and NATIONAL CITY BANK OF KENTUCKY (the "Supplemental Lenders").
The Borrower, the Agent and certain other Lenders, as described
therein, are parties to a Fourth Amended and Restated Revolving Credit Agreement
dated as of March 31, 2003, as amended by a First Amendment to Credit Agreement
dated as of August 1, 2003 and by a Second Amendment to Credit Agreement dated
as of October 6, 2003 (as it may be further amended from time to time, the
"Credit Agreement"). All terms used herein and not otherwise defined shall have
the same meaning given to them in the Credit Agreement.
Pursuant to Section 2.10(c) of the Credit Agreement, the Borrower has
the right to increase the Aggregate Commitment by obtaining additional
Commitments upon satisfaction of certain conditions. This Amendment requires
only the signature of the Borrower, the Agent and the Supplemental Lenders so
long as the Aggregate Commitment is not increased above $350,000,000.
Each Supplemental Lender is a new Lender which is a lending institution
whose identity Agent will approve by its signature below.
In consideration of the foregoing, each Supplemental Lender, from and
after the date hereof shall have a Commitment in the amount shown next to its
signature below and on Schedule 1 attached hereto, resulting in a new Aggregate
Commitment of $275,000,000 as of the date hereof, and each Supplemental Lender
hereby assumes all of the rights and obligations of a Lender under the Credit
Agreement.
The Borrower has executed and delivered to each Supplemental Lender as
of the date hereof, if requested by such Supplemental Lender, a new Note in the
form attached to the Credit Agreement as Exhibit A to evidence the Commitment of
the Supplemental Lender.
IN WITNESS WHEREOF, the Agent, the Borrower and the Supplemental
Lenders have executed this Amendment as of the date shown above.
PULTE MORTGAGE LLC
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Senior Vice President and
Chief Financial Officer
BANK ONE, NA, individually and
as Agent
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Associate Director
Commitment: $35,000,000 WASHINGTON MUTUAL BANK, FA
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Title:
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Address for Notices:
▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Phone: 312/▇▇▇-▇▇▇▇
Fax: 312/▇▇▇-▇▇▇▇
Commitment: $20,000,000 NATIONAL CITY BANK OF KENTUCKY
By: /s/ ▇▇▇▇ ▇▇▇▇
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Name: ▇▇▇▇ ▇▇▇▇
Title:
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Address for Notices:
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Attn: ▇▇▇▇▇▇▇ ▇▇▇▇▇
Phone: 502/▇▇▇-▇▇▇▇
Fax: 502/▇▇▇-▇▇▇▇
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SCHEDULE 1
COMMITMENTS AND COMMITMENT PERCENTAGES
(B)
COMMITMENT
PERCENTAGE
---------- (C)
(A) (A/Aggregate SWINGLINE
LENDER COMMITMENT Commitment) COMMITMENT
------ ---------- ----------- ----------
Bank One, NA $ 70,000,000 25.45455% $15,000,000
Bank of America, N.A. $ 60,000,000 21.81818%
Credit Lyonnais New York Branch $ 50,000,000 18.18182%
Washington Mutual Bank, FA $ 35,000,000 12.72727%
Comerica Bank $ 25,000,000 9.09091%
National City Bank of Kentucky $ 20,000,000 7.27273%
▇▇▇▇▇ Fargo, N.A. $ 15,000,000 5.45455%
$275,000,000 100%
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