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Document

Exhibit 10.7

FIFTH AMENDMENT
FIFTH AMENDMENT (this “Fifth Amendment”), dated as of February 16, 2022 (the “Fifth Amendment Effective Date”), to the Credit Agreement, dated as of July 18, 2013 (as amended by the First Amendment, dated as of October 20, 2014, the Second Amendment, dated as of July 18, 2017, the Third Amendment, dated as of June 30, 2020, the Fourth Amendment, dated as of June 10, 2021, and as further amended, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”; the Credit Agreement, as modified by the Fifth Amendment, the “Amended Credit Agreement”), among M/I HOMES, INC., an Ohio corporation (the “Borrower”), the several banks and other financial institutions or entities from time to time party thereto (the “Lenders”), PNC BANK, NATIONAL ASSOCIATION, as administrative agent (the “Administrative Agent”), and the other agents party thereto. 
W I T N E S S E T H:
WHEREAS, pursuant to the Credit Agreement, the Lenders have agreed to make, and have made, certain extensions of credit to the Borrower;
WHEREAS, the Borrower has requested that the Credit Agreement be amended to make certain modifications as set forth herein;
WHEREAS, Section 10.1 of the Credit Agreement permits the Borrower to amend the Credit Agreement with the written consent of the Required Lenders; and
WHEREAS, the Borrower and the Lenders hereto are willing to agree to this Fifth Amendment and the Amended Credit Agreement on the terms set forth herein.
NOW, THEREFORE, in consideration of the premises and mutual covenants contained hereinafter set forth, the parties hereto agree as follows:
SECTION 1.Definitions. Unless otherwise defined herein, terms defined in the Amended Credit Agreement and used herein shall have the meanings given to them in the Amended Credit Agreement. 
SECTION 2.Amendments. Section 7.4(e) of the Credit Agreement is hereby amended by deleting it in its entirety and replacing it with the following:
“Investments in (including, without limitation, repayments, repurchases and redemptions of) (i) the Existing Notes or other senior notes or senior Indebtedness and (ii) Subordinated Debt or Capital Stock of the Borrower; provided that, after giving effect to any such Investment, (x) no Event of Default shall have occurred and be continuing and (y) the Borrower shall be in compliance (calculated on a pro forma basis) with the financial covenants set forth in clauses (a) through (c) of Section 7.1;”.
SECTION 3.[Reserved]. 
SECTION 4.Effectiveness. The amendments set forth in this Fifth Amendment shall become effective as of the Fifth Amendment Effective Date, subject to the satisfaction of the following conditions precedent:
(a)Fifth Amendment. The Administrative Agent shall have received (i) this Fifth Amendment, executed and delivered by the Borrower and Lenders constituting the Required Lenders, 

which shall be in full force and effect and (ii) the Reaffirmation Agreement, executed and delivered by each Guarantor, which shall be in full force and effect.
(b)Fees. The Lenders and the Administrative Agent shall have received all reasonable fees required to be paid, and all reasonable out-of-pocket expenses, in each case, in connection with this Fifth Amendment and for which invoices have been presented (including the reasonable fees and expenses of legal counsel to the Administrative Agent) on or before the Fifth Amendment Effective Date.
(c)Closing Certificates; Certified Certificate of Incorporation; Good Standing Certificates. The Administrative Agent shall have received the following supporting documents with respect to the Borrower and the other Loan Parties: (i) a copy of its certificate or articles of incorporation, formation or organization or certificate of limited partnership (as applicable), certified as of a date reasonably close to the Fifth Amendment Effective Date to be a true and accurate copy by the Secretary of State (or similar Governmental Authority) of its state of incorporation or formation (or a certification from a duly authorized officer of the Borrower that there have been no changes to such documents delivered to the Administrative Agent on the Fourth Amendment Effective Date, except as otherwise attached to such certificate and certified therein as being the only amendments thereto as of such date); (ii) a certificate of that Secretary of State (or similar Governmental Authority), dated as of a date reasonably close to the Fifth Amendment Effective Date, as to its good standing; (iii) a copy of its regulations or by-laws, partnership agreement, or operating agreement or limited liability company agreement (as applicable), certified by its secretary or assistant secretary, general partner, manager or other appropriate Person (as applicable) to be a true and accurate copy of its regulations or by-laws, partnership agreement, or operating agreement or limited liability company agreement (as applicable) in effect on the Fifth Amendment Effective Date (or a certification from a duly authorized officer of the Borrower that there have been no changes to such documents delivered to the Administrative Agent on the Fourth Amendment Effective Date, except as otherwise attached to such certificate and certified therein as being the only amendments thereto as of such date); (iv) a certificate of its secretary or assistant secretary, general partner, manager or other appropriate Person (as applicable), as to the incumbency and signatures of its officers or other Persons who have executed any documents on behalf of such Loan Party in connection with the transactions contemplated by this Fifth Amendment and the Amended Credit Agreement (or a certification from a duly authorized officer of the Borrower that since the Fourth Amendment Effective Date there have been no changes to the incumbency certificates of the officers of the Loan Parties delivered to the Administrative Agent on the Fourth Amendment Effective Date); (v) a copy of resolutions of its board of directors or the executive committee of the board of directors, certified by its secretary or assistant secretary to be a true and accurate copy of resolutions duly adopted by such board of directors or the executive committee of the board of directors, or other appropriate resolutions or consents of its general partner, manager or members certified by its secretary, assistant secretary, general partner or manager (as applicable) to be true and correct copies thereof duly adopted, approved or otherwise delivered by its general partner, manager or members (to the extent necessary and applicable), each of which is certified to be in full force and effect on the Fifth Amendment Effective Date, authorizing the execution and delivery by it of this Fifth Amendment, the Reaffirmation Agreement and other Loan Documents delivered on the Fifth Amendment Effective Date to which it is a party and the performance by it of all its obligations thereunder and under the Amended Credit Agreement; and (vi) such additional supporting documents and other information with respect to its operations and affairs as the Administrative Agent may reasonably request.
(d)Representations and Warranties; No Defaults. The Administrative Agent shall have received certificates, signed by a duly authorized officer of the Borrower, stating that: (i) the representations and warranties of the Borrower contained in Section 4 of the Amended Credit Agreement 
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are correct and accurate in all material respects on and as of the Fifth Amendment Effective Date (except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations and warranties were correct and accurate in all material respects as of such earlier date), provided, that, to the extent any such representation or warranty is already qualified by materiality or reference to Material Adverse Effect, such representation is true and correct in all respects, and (ii) no event has occurred and is continuing which constitutes an Event of Default or Default under the Amended Credit Agreement as of the Fifth Amendment Effective Date, or after giving effect to any extension of credit on the Fifth Amendment Effective Date.
(e)Patriot Act; Beneficial Ownership Certification. The Administrative Agent shall have received, (i) not later than 5 days prior to the Fifth Amendment Effective Date (or such later date as shall be acceptable to it), all documentation and other information about the Borrower and the other Loan Parties as had been reasonably requested in writing at least 10 days prior to the Fifth Amendment Effective Date (or such later date as shall be acceptable to the Borrower) by the Administrative Agent or any Lender that it reasonably determines is required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations including, without limitation, the Patriot Act and, if required, an executed Beneficial Ownership Certification. 
SECTION 5.[Reserved].
SECTION 6.Effect of Amendment. 
(a)Except as expressly set forth herein, this Fifth Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Administrative Agent under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of the Credit Agreement or of any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and affect. Nothing herein shall be deemed to entitle the Borrower to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances. Nothing in this Fifth Amendment shall be deemed to be a novation of any obligations under the Credit Agreement or any other Loan Document.
(b)On and after the Fifth Amendment Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”, or words of like import, and each reference to the Credit Agreement in any other Loan Document shall be deemed a reference to the Amended Credit Agreement. This Fifth Amendment shall constitute a “Loan Document” for all purposes of the Amended Credit Agreement and the other Loan Documents (as defined in the Amended Credit Agreement). 
SECTION 7.General.
(a)GOVERNING LAW. THIS FIFTH AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS FIFTH AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
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(b)Costs and Expenses. The Borrower agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with this Fifth Amendment, including the reasonable and invoiced fees, charges and disbursements of counsel for the Administrative Agent.
(c)Counterparts. This Fifth Amendment may be executed by one or more of the parties to this Fifth Amendment on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of this Fifth Amendment by email or facsimile transmission shall be effective as delivery of a manually executed counterpart hereof. 
(d)Headings. The headings of this Fifth Amendment are used for convenience of reference only, are not part of this Fifth Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Fifth Amendment. 
[remainder of page intentionally left blank]
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IN WITNESS WHEREOF, the parties hereto have caused this Fifth Amendment to be duly executed and delivered by their respective duly authorized officers as of the day and year first above written. 
M/I HOMES, INC., as Borrower
By:    /s/ Mark Kirkendall                                   
Name: Mark Kirkendall
Title: Vice President and Treasurer

[Fifth Amendment to M/I Homes Credit Agreement]

PNC BANK, NATIONAL ASSOCIATION, as Administrative Agent and a Lender
By:    /s/ J. Richard Litton                                  
Name: J. Richard Litton
Title: Senior Vice President

[Fifth Amendment to M/I Homes Credit Agreement]

WELLS FARGO BANK NATIONAL ASSOCIATION, as a Lender
By: /s/ Cinthya Hanselman                           
   Name: Cinthya Hanselman
   Title: Director

[Fifth Amendment to M/I Homes Credit Agreement]

JPMorgan Chase Bank, N.A., as a Lender
By: /s/ Nadeige Dang                                   
   Name: Nadeige Dang
   Title: Executive Director

[Fifth Amendment to M/I Homes Credit Agreement]

CITIBANK, N.A., as a Lender
By: /s/ Michael Vondriska                           
   Name: Michael Vondriska
   Title: Vice President

[Fifth Amendment to M/I Homes Credit Agreement]

FIFTH THIRD BANK, NATIONAL ASSOCIATION, as a Lender
By: /s/ Ted Smith                                        
   Name: Ted Smith
   Title: Senior Vice President

[Fifth Amendment to M/I Homes Credit Agreement]

U.S. BANK NATIONAL ASSOCIATION, as a Lender
By: /s/ Leonard Olsavsky                           
   Name: Leonard Olsavsky
   Title: Senior Vice President

[Fifth Amendment to M/I Homes Credit Agreement]

THE HUNTINGTON NATIONAL BANK, as a Lender
By: /s/ Joe White                                       
   Name: Joe White
   Title: Vice President

[Fifth Amendment to M/I Homes Credit Agreement]

COMERICA BANK, as a Lender
By: /s/ Charles Weddell                              
   Name: Charles Weddell
   Title: Senior Vice President

[Fifth Amendment to M/I Homes Credit Agreement]

Flagstar Bank, FSB a federal chartered savings bank
By: /s/ Drew Szilagy                              
   Name: Drew Szilagy
   Title: Vice President

[Fifth Amendment to M/I Homes Credit Agreement]

Regions Bank, as a Lender
By: /s/ Randall S. Reid                           
   Name: Randall S. Reid
   Title: Senior Vice President

[Fifth Amendment to M/I Homes Credit Agreement]

TEXAS CAPITAL BANK, a Texas state bank, as a Lender
By: /s/ Barbara Gremmer                        
   Name: Barbara Gremmer
   Title: Vice President

[Fifth Amendment to M/I Homes Credit Agreement]Document

Exhibit 4.2

Description of Visteon Corporation Securities 
Registered Under Section 12 of the Exchange Act of 1934

 
The following summary of the terms of our securities is not meant to be complete and is qualified in its entirety by reference to our third amended and restated certificate of incorporation and our amended and restated bylaws, both of which are filed as exhibits to this Annual Report on Form 10-K, and the provisions of applicable law. 

Authorized Capital Stock

Visteon has the authority to issue a total of 300,000,000 shares of capital stock, consisting of:
									
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	250,000,000 shares of common stock, par value $0.01 per share; and

			
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	50,000,000 shares of preferred stock, par value $0.01 per share.

Common Stock

The rights, preferences and privileges of holders of our common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of our preferred stock which we may designate and issue in the future.

Dividend Rights.  Subject to limitations under Delaware law, preferences that may apply to any outstanding shares of preferred stock, and contractual restrictions, holders of our common stock are entitled to receive ratably dividends or other distributions when and if declared by the board of directors. In addition to such restrictions, whether any future dividends are paid will depend on decisions that will be made by the board of directors and will depend on then existing conditions, including our financial condition, contractual restrictions, corporate law restrictions, capital requirements and business prospects. The ability of the board of directors to declare dividends also will be subject to the rights of any holders of outstanding shares of our preferred stock and the availability of sufficient funds under the Delaware General Corporation Law (“DGCL”) to pay dividends.

Liquidation Rights.  In the event of any liquidation, dissolution or winding up of Visteon, the holders of our common stock will be entitled to share in the net assets of Visteon available after the payment of all debts and other liabilities and subject to the prior rights of any outstanding class of our preferred stock.

Preemptive Rights.  Pursuant to our third amended and restated certificate of incorporation, the holders of our common stock have no preemptive rights.

Conversion Rights.  Shares of our common stock are not convertible.

Voting Rights.  Subject to the rights of the holders of any series of our preferred stock, each outstanding share of our common stock is entitled to one vote on all matters submitted to a vote of stockholders. The holders of our common stock will not have cumulative voting rights.

Exhibit 4.2

Preferred Stock

Under the terms of our third amended and restated certificate of incorporation, the board of directors is authorized to issue from time to time up to an aggregate of 50,000,000 shares of preferred stock and to fix or alter the designations, preferences, rights and any qualifications, limitations or restrictions of the shares of each series, including the dividend rights, dividend rates, conversion rights, voting rights, rights and terms of redemption (including sinking fund provisions), redemption price or prices, liquidation preferences and the number of shares constituting any series. These additional shares may be used for a variety of corporate purposes, including future public offerings, to raise additional capital or to facilitate acquisitions. If the board of directors decides to issue shares of preferred stock to persons supportive of current management, this could render it more difficult or discourage an attempt to obtain control of Visteon by means of a merger, tender offer, proxy contest or otherwise. Authorized but unissued shares of preferred stock also could be used to dilute the stock ownership of persons seeking to obtain control of Visteon. To the extent required by 11 U.S.C. § 1123(a)(6), Visteon is prohibited from issuing shares of nonvoting equity securities (within the meaning of such statute).

Certain Anti-Takeover Effects of our Certificate of Incorporation, our Bylaws and Delaware Law

Provisions of Delaware Law.  Visteon is a Delaware corporation subject to Section 203 of the DGCL. Section 203 provides that, subject to certain exceptions specified in the law, a Delaware corporation shall not engage in certain “business combinations” with any “interested stockholder” for a three-year period after the date of the transaction in which the person became an interested stockholder unless:
									
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	prior to such time, the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;

			
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	upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding certain shares; or

			
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	at or subsequent to that time, the business combination is approved by the board of directors of the corporation and authorized by the affirmative vote of holders of at least 662/3% of the outstanding voting stock that is not owned by the interested stockholder.

Generally, a “business combination” includes a merger, asset or stock sale or other transaction resulting in a financial benefit to the interested stockholder. Subject to certain exceptions, an “interested stockholder” is a person who, together with that person’s affiliates and associates, owns, or within the previous three years did own, 15% or more of the voting stock of the corporation.

Under certain circumstances, Section 203 makes it more difficult for a person who would be an “interested stockholder” to effect various business combinations with a corporation for a three-year period. The provisions of Section 203 may encourage companies interested in acquiring Visteon to negotiate in advance with our board of directors because the stockholder approval requirement would be avoided if our board of directors approves either the business combination or the transaction that results in the stockholder becoming an interested stockholder. These provisions also may make it more difficult to accomplish transactions that stockholders may otherwise deem to be in their best interests.
Board of Directors.  Our third amended and restated certificate of incorporation and our amended and restated bylaws provide that the number of directors shall be fixed by the board of directors from time 

Exhibit 4.2

to time. The board of directors shall consist of not less than 3 nor more than 15 members. Under our amended and restated bylaws, at all meetings of stockholders for the election of directors at which a quorum is present, a majority of the votes cast are required to elect a director except in the event of a contested election (when the number of nominees for election as directors exceeds the number of directors to be elected at such meeting).  In the event of a contested election, a plurality of the votes cast would be sufficient to elect a director.  Under our third amended and restated certificate of incorporation and our amended and restated bylaws, a vote of a majority of all then outstanding capital stock entitled to vote at an election of directors is required to remove a director with or without cause and fill the resulting vacancy, except that any director elected separately by the holders of any class or series of stock shall be subject to removal with or without cause at any time by such stockholders, who will fill the resulting vacancy. Vacancies resulting from newly created directorships by reason of an increase in the size of the board of directors shall be filled by a majority vote of the board of directors, provided a quorum is present. Further, vacancies resulting from reasons other than removal or an increase in the size of the board of directors shall be filled by a majority vote of the board of directors, even if less than a quorum. These provisions may deter a stockholder from removing incumbent directors and simultaneously gaining control of the board of directors by filling the vacancies created by this removal with its own nominees.

Advance Notice Procedures.  Our amended and restated bylaws establish an advance notice procedure for stockholder proposals to be brought before a meeting of stockholders, including proposed nominations of persons for election to the board of directors. Stockholders at a meeting will only be able to consider proposals or nominations specified in the notice of meeting or brought before the meeting by or at the direction of the board of directors or by a stockholder who was a stockholder of record on the record date for the meeting, who is entitled to vote at the meeting and who has given our corporate secretary timely written notice, in proper form, of the stockholder’s intention to bring that business before the meeting. Although our amended and restated bylaws will not give the board of directors the power to approve or disapprove stockholder nominations of candidates or proposals regarding other business to be conducted at a special or annual meeting, our amended and restated bylaws may have the effect of precluding the conduct of certain business at a meeting if the proper procedures are not followed or may discourage or deter a potential acquirer from conducting a solicitation of proxies to elect its own slate of directors or otherwise attempting to obtain control of the company.

Action by Written Consent; Special Meetings of Stockholders.  Our third amended and restated certificate of incorporation provides that stockholder action can be taken only at an annual or special meeting of stockholders and cannot be taken by written consent in lieu of a meeting. Our third amended and restated certificate of incorporation and our amended and restated bylaws provide that, except as otherwise required by law, special meetings of the stockholders can only be called by our chairman of the board, our chief executive officer, pursuant to a resolution adopted by a majority of our board of directors or by our secretary following receipt of one or more demands to call a special meeting of the stockholders, in accordance with the provisions of our amended and restated bylaws, from stockholders who hold, in the aggregate, at least twenty percent of the voting power of all shares entitled generally to on the election of directors (without reference to any terms of any preferred stock).

Authorized but Unissued Shares.  Our authorized but unissued shares of common stock and preferred stock will be available for future issuance without stockholder approval, subject to the rules and regulations of any applicable stock exchange or similar rules. These additional shares may be utilized for a variety of corporate purposes, including future public offerings to raise additional capital, corporate acquisitions and employee benefit plans. The existence of authorized but unissued shares of common stock and preferred stock could render more difficult or discourage an attempt to obtain control of a majority of our common stock by means of a proxy contest, tender offer, merger or otherwise.

Limitations on Directors’ and Officers’ Liability.  Our third amended and restated certificate of incorporation contains a provision eliminating the personal liability of our directors to Visteon or any of its stockholders for monetary damages for breach of fiduciary duty to the fullest extent permitted by 

Exhibit 4.2

applicable law. Our third amended and restated certificate of incorporation and our amended and restated bylaws also contain provisions generally providing for indemnification and prepayment of expenses to our directors and officers to the fullest extent permitted by applicable law.
Amendment of Certificate of Incorporation and Bylaws.  Our third amended and restated certificate of incorporation expressly authorizes the board of directors to adopt, amend, alter or repeal most provisions of our amended and restated bylaws by a majority vote. The stockholders may also adopt, amend, alter or repeal our amended and restated bylaws. Stockholder approval is also required to amend, alter, change or repeal any provision of our third amended and restated certificate of incorporation or our amended and restated bylaws inconsistent with any provision in our third amended and restated certificate of incorporation or our amended and restated bylaws that requires a particular vote of stockholders in order to take the action specified in such provision.

Transactions with Interested Directors or Officers.  In recognition that we may engage in material business transactions with one or more of our directors or officers, an entity in which one or more of our directors or officers are its directors or officers or have a financial interest, our amended and restated bylaws provide that such a contract or transaction will not be void or voidable solely because a director or officer is interested, or solely because the director or officer is present at or participates in the meeting which authorizes the contract or transaction, or solely because such person’s votes are counted for such purpose if:
									
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	the material facts as to such person’s or persons’ relations or interest as to the contract or transaction are disclosed or are known to the board of directors or the committee, and the board of directors or committee in good faith authorizes the contract or transaction by the affirmative vote of a majority of disinterested directors, even though the number of disinterested directors may be less than a quorum; or

			
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	the material facts as to such person’s or person’s relationship or interest as to the contract or transaction are disclosed or are known to the stockholders entitled to vote thereon, and the contract or transaction is specifically approved in good faith by vote of the stockholders; or

			
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	the contract or transaction is fair as to us as of the time it is authorized, approved or ratified by the board of directors, a committee thereof or the stockholders.

Transfer Agent and Registrar

Computershare Limited is the transfer agent and registrar for our common stock.

Listing of Our Common Stock

Currently, our common stock is listed on the NASDAQ stock market under the trading symbol “VC”.

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