On K. Hovnanian completed the redemption of million aggregate principal amount of the Notes with borrowings of the Delayed Draw Term Loans under the Unsecured Term Loan Facility. See Note for further information.

 

On the parties to the Solus litigation signed a stipulation of dismissal of all claims with prejudice. As part of the case resolution, on K. Hovnanian paid the overdue interest on the Notes held by Sunrise Trail that was originally due on and as a result of such payment, the “Default” under the Indenture governing the Notes was cured. The case resolution does involve any settlement payment or admission of wrongdoing by any of the Hovnanian-related parties. On the Court so-ordered the stipulation and closed the case. See Note for further information.