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EX-10.1 - EXHIBIT 10-1 - CENTERLINE HOLDING COexhibit10-1.htm



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 AND EXCHANGE ACT OF 1934
 
Date of Report (Date of Earliest Event Reported): November 14, 2011



 
CENTERLINE HOLDING COMPANY
(Formerly CharterMac)
(Exact Name of Registrant as Specified in Charter)
 
 
 
Delaware
(State or other Jurisdiction of Incorporation)
 
1-13237
 
13-3949418
(Commission File Number)
 
(IRS Employer Identification Number)
 
 
625 Madison Avenue, New York, NY 10022
(Address of Principal Executive Offices)
 
Registrant’s telephone number, including area code: (212) 317-5700
 
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:
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 
 
 
 

 

 


Item 1.01.  Entry into a Definitive Material Agreement

On November 14, 2011, Centerline Mortgage Capital Inc. and Centerline Mortgage Partners Inc. (collectively, the “Companies”), each of which is a subsidiary of Centerline Holding Company (the "Registrant"), entered into a Mortgage Warehouse Loan and Security Agreement (the "Agreement") with Manufacturers and Traders Trust Company as lender.
 
Pursuant to the Agreement, the Companies may borrow up to $50,000,000.  The Companies will use advances under the Agreement to fund the origination of certain types of eligible loans described in the Agreement, including loans originated on behalf of Fannie Mae and Freddie Mac, with such advances anticipated to bear interest at a rate of 275 basis points per annum over LIBOR.  The Companies have pledged as security for advances under the Agreement any mortgages financed by such advances and servicing and other rights related thereto.  The Agreement is attached hereto as Exhibit 10.1.  The foregoing description of the Agreement is qualified in its entirety by reference to the full text of such agreement.

 
Item 9.01.  Financial Statements, Pro Forma Financial Information and Exhibits.

 
 

 
 

 

SIGNATURES
 
 
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
   
Centerline Holding Company
    (Registrant)
 
BY:
 
/s/ Robert L. Levy
   
Robert L. Levy
   
President, Chief Financial Officer and Chief Operating office

 
November 14, 2011
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
Exhibit Index
 
Exhibit 10.1 Mortgage Warehouse Loan and Security Agreement, dated as of November 14, 2011, among Centerline Mortgage Capital Inc. and Centerline Mortgage Partners Inc. as borrowers, and Manufacturers and Traders Trust Company as lender.