Mediaboss Marketing

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On June 10, 2021, M/I Homes, Inc. (the "Company") entered into a FourthAmendment (the "Fourth Amendment") to the Company's unsecured revolving creditfacility, dated July 18, 2013, among the Company, the lenders party thereto andPNC Bank, National Association, as administrative agent (as so amended, the"Credit Agreement"). The Fourth Amendment, among other things, increased thecommitments from the lenders to $550.0 million from $500.0 million, extended thematurity to July 18, 2025, increased the required minimum level of ConsolidatedTangible Net Worth from $848.2 million to $946.2 million (subject to increaseover time based on earnings and proceeds from equity offerings) and increasedthe letter of credit sublimit to $150 million from $125 million. The FourthAmendment also provides an accordion feature pursuant to which the maximumborrowing availability may be increased at the request of the Company to anaggregate of $700.0 million, subject to obtaining additional commitments fromlenders and other terms and conditions of the Credit Agreement.

Interest on amounts borrowed under the Credit Agreement is payable at a ratewhich is adjusted daily and is equal to the sum of the one-month LIBOR rate plusa margin. The Fourth Amendment reduced the floor on one-month LIBOR to 0.25%from 0.75%, and decreased the LIBOR margin to 175 basis points from 250 basispoints (based on the Company's leverage ratio at March 31, 2021). The LIBORmargin is subject to adjustment in subsequent quarterly periods based on theCompany's leverage ratio. The Fourth Amendment also decreased the commitment feepaid quarterly by the Company on the remaining available commitment amount by 15basis points, to 30 basis points, which is also subject to adjustment insubsequent quarterly periods based on the Company's leverage ratio.Additionally, the Fourth Amendment increased the borrowing base advance ratesfor certain categories of inventory used to calculate the available amount underthe Credit Agreement. As of March 31, 2021, there were no borrowings outstandingand $66.7 million letters of credit outstanding under the Credit Agreement.

Certain of the lenders party to the Fourth Amendment are also lenders and/orserve as the administrative agent under a $175 million secured mortgagewarehousing agreement with M/I Financial, LLC, a wholly-owned subsidiary of theCompany, as borrower.

The foregoing summary is qualified in its entirety by reference to the FourthAmendment which is attached as Exhibit 10.1 to this Current Report on Form 8-Kand incorporated herein by reference. All capitalized terms not otherwisedefined herein are as defined in the Credit Agreement.

*Submitted electronically with this Report in accordance with theprovisions of Regulation S-T.

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M/I HOMES, INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet...