-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GRVDI38F0mWgmmyYlLUdP82efrfG7NW9m7rhyi/cEpytFV8RzZRrgYSw5JDc3QzN re4fA8g91JkEjwNjTFqnzA== 0000950123-10-031754.txt : 20100402 0000950123-10-031754.hdr.sgml : 20100402 20100402113850 ACCESSION NUMBER: 0000950123-10-031754 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100331 ITEM INFORMATION: Termination of a Material Definitive Agreement FILED AS OF DATE: 20100402 DATE AS OF CHANGE: 20100402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MDC HOLDINGS INC CENTRAL INDEX KEY: 0000773141 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 840622967 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08951 FILM NUMBER: 10727145 BUSINESS ADDRESS: STREET 1: 4350 S MONACO STREET STREET 2: SUITE 500 CITY: DENVER STATE: CO ZIP: 80237 BUSINESS PHONE: 3037731100 MAIL ADDRESS: STREET 1: 4350 S MONACO STREET STREET 2: SUITE 500 CITY: DENVER STATE: CO ZIP: 80237 8-K 1 d71985e8vk.htm FORM 8-K e8vk
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): March 31, 2010
M.D.C. Holdings, Inc.
(Exact name of registrant as specified in its charter)
         
Delaware   1-8951   84-0622967
         
(State or other
jurisdiction of
incorporation) 		  (Commission file number)   (I.R.S. employer
identification no.)
4350 South Monaco Street, Suite 500, Denver, Colorado 80237
(Address of principal executive offices) (Zip code)
Registrant’s telephone number, including area code: (303) 773-1100
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
     o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
     o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
     o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
     o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

ITEM 1.02 TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT
On March 31, 2010, M.D.C. Holdings, Inc. (the “Company”) notified JPMorgan Chase Bank, N.A., as Administrative Agent for the lenders that are participating in the Company’s revolving credit facility under the Second Amended and Restated Credit Agreement, as amended (the “Credit Agreement”) that, effective on or about April 5, 2010, the Aggregate Commitment (as such term is defined in the Credit Agreement), and thus the aggregate sublimit for letters of credit, shall be reduced from $100 million to $50 million. There are no penalties associated with the reduction of the credit facility. The Company believes that it is in compliance with the covenants under the Credit Agreement. The Credit Agreement has a maturity date of March 21, 2011.
The Company uses this facility to provide letters of credit required in the ordinary course of its business and financing in support of its homebuilding segments. As of March 31, 2010, the Company had letters of credit outstanding under the Credit Agreement in the amount of approximately $16.2 million and no outstanding borrowings. At this time, the Company believes that it does not need the full capacity of the Credit Agreement to meet its liquidity needs.
SIGNATURES
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 thereunto duly authorized.
         
  M.D.C. HOLDINGS, INC.
 		  
Dated: April 2, 2010  By:   /s/ Joseph H. Fretz    
    Joseph H. Fretz   
    Secretary and Corporate Counsel   
 

 

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