Greystone Housing Impact Investors LP Enters Material Agreement

TL;DR

Greystone Housing Impact Investors LP just signed a big deal, creating new financial obligations.

AI Summary

On March 4, 2024, Greystone Housing Impact Investors LP entered into a material definitive agreement. This agreement created a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. The filing also includes financial statements and exhibits related to this event.

Why It Matters

This filing indicates a significant new financial commitment or arrangement for Greystone Housing Impact Investors LP, which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Entering into new material definitive agreements and financial obligations inherently carries risks related to the terms, performance, and potential impact on the company's financial health.

Key Players & Entities

• Greystone Housing Impact Investors LP (company) — Registrant
• March 4, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• 47-0810385 (tax_id) — IRS Employer Identification No.
• 14301 FNB Parkway, Suite 211 (address) — Business and Mail Address

FAQ

Key Financial Figures

• $10,000,000 — h an original principal amount of up to $10,000,000 (the "Note"). The material amendment
• $10.0 m — dition of NexBank's commitment of up to $10.0 million, which brings the total maximum c
• $50.0 million — s under the Amended Credit Agreement to $50.0 million. The Partnership paid to NexBank a co
• $25,000 — id to NexBank a commitment fee totaling $25,000 at closing. In addition, the Partnershi
• $15,000 — ship paid to the Administrative Agent a $15,000 arrangement fee at closing. The foreg

Filing Documents

• ghi-20240304.htm (8-K) — 56KB
• ghi-ex10_1.htm (EX-10.1) — 63KB
• ghi-ex10_2.htm (EX-10.2) — 18KB
• ghi-ex99_1.htm (EX-99.1) — 13KB
• 0000950170-24-027204.txt ( ) — 287KB
• ghi-20240304.xsd (EX-101.SCH) — 28KB
• ghi-20240304_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Fifth Amendment to Credit Agreement On March 4, 2024, Greystone Housing Impact Investors LP (the "Partnership") entered into a Fifth Amendment to Credit Agreement (the "Fifth Amendment"), with BankUnited, N.A. and Bankers Trust Company (collectively, the "Lenders"), and the sole lead arranger and administrative agent, BankUnited, N.A. (the "Administrative Agent") which modifies certain provisions of the Credit Agreement dated June 11, 2021, as amended by the First Amendment to Credit Agreement dated November 30, 2021 (the "First Amendment"), the Second Amendment to Credit Agreement dated June 9, 2023 (the "Second Amendment"), the Third Amendment to Credit Agreement dated July 11, 2023 (the "Third Amendment"), and the Fourth Amendment to Credit Agreement dated September 19, 2023 (the "Fourth Amendment", and collectively with the Credit Agreement, the First Amendment, the Second Amendment, the Third Amendment and the Fifth Amendment, the "Amended Credit Agreement"). In connection with the Fifth Amendment, the Partnership executed a Promissory Note payable to the order of NexBank with an original principal amount of up to $10,000,000 (the "Note"). The material amendment to the Amended Credit Agreement accomplished by the Fifth Amendment was the addition of NexBank's commitment of up to $10.0 million, which brings the total maximum commitment of all lenders under the Amended Credit Agreement to $50.0 million. The Partnership paid to NexBank a commitment fee totaling $25,000 at closing. In addition, the Partnership paid to the Administrative Agent a $15,000 arrangement fee at closing. The foregoing descriptions of the Fifth Amendment and the Note are a summary and are qualified in its entirety by reference to the full text of the Fifth Amendment and the Note, copies of which are attached as Exhibit 10.1 and Exhibit 10.2 to this Current Report on Form 8-K, respectively, and incorporated by reference herein.

Forward-Looking Statements

Forward-Looking Statements Information contained in this Current Report on Form 8-K contains "forward-looking statements," including but not limited to statements related to the Amended Credit Agreement, Note, related guaranty, and use of the financing proceeds, which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, risks involving fluctuations in short-term interest rates, collateral valuations, bond investment valuations, current maturities of our financing arrangements and our ability to renew or refinance such maturities, and overall economic and credit market conditions. For a further list and description of such risks, see the reports and other filings made by the Partnership with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2023. The Partnership disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (a) Not applicable. (b) Not applicable. (c) Not applicable. (d) Exhibits. Exhibit Number Description 10.1 Fifth Amendment to Credit Agreement dated March 4, 2024 between Greystone Housing Impact Investors LP, the Lenders, and BankUnited, N.A., as Administrative Agent. 10.2 Note dated March 4, 2024 between Greystone Housing Impact Investors LP and payable to NexBank. 10.3 Credit Agreement dated June 11, 2021 between America First Multifamily Investors, L.P. (now known as Greystone Housing Impact Investors LP), the Lenders, and BankUnited, N.A., as Administrative Agent (incorporated herein by reference to Exhibit 10.1 to Form 8-K (No. 000-24843), filed by the Partnership on June 14, 2021). 10.4 First Amendment to Credit Agreement dated November 30, 2021 between America First Multifamily Investors, L.P. (now known as Greystone Housing Impact Investors LP), the Lenders, and BankUnited, N.A., as Administrative Agent (incorporated herein by reference to Exhibit 10.1 to Form 8-K (No. 000-24843), filed by the Partnership on December 6, 2021). 10.5 Second Amendment to Credit Agreement dated June 9, 2023 between Greystone Housing Impact Investors LP, the Lenders, and BankUnited, N.A., as Administrative Agent (incorporated herein by reference to Exhibit 10.1 to Form 8-K (No. 001-41564), filed by the Partnership on June 15, 2023). 10.6 Third Amendment to Credit Agreement dated July 11, 2023 between Greystone Housing Impact Investors LP, the Lenders, and BankUnited, N.A., as Administrative Agent (incorporated herein by reference to Exhibit 10.1 to Form 8-K (No. 001-41564), filed by the Partnership on July 17, 2023). 10.7 Fourth Amendment to Credit Agreement dated September 19, 2023 between Greystone Housing Impact Investors LP, the Lenders, and BankUnited, N.A., as Administrative Agent. (incorporated herein by reference to Exhibit 10.1 to Form 8-K (No. 001-41564), filed by the Partnership on S

SIGNATURES

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. Greystone Housing Impact Investors LP Date: March 6, 2024 By: /s/ Jesse A. Coury Printed: Jesse A. Coury Title: Chief Financial Officer

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View this 8-K filing on SEC EDGAR