UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported) December 20, 2005

MERITAGE HOMES CORPORATION

(Exact Name of Registrant as Specified in Charter)

 

 

 

(480) 609-3330

(Registrant’s telephone number, including area code)

 

 

(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 (see General Instruction A.2. below):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

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

 

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

 

o            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 MATERIAL DEFINITIVE AGREEMENT

 

ITEM 2.03                                         CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT

 

                On December 20, 2005, we amended our $600 million senior unsecured revolving credit facility to add an accordion feature that will allow Meritage to request from time to time an increase of up to $200 million in the maximum borrowing commitment.  Each member of the lending group may elect to participate or not participate in any request we make.  In addition, any increase in the borrowing capacity pursuant to this accordion feature is subject to certain terms and conditions, including the absence of an event of default.

 

                All other terms and provisions in the Credit Agreement remain unchanged as a result of this amendment.

 

                A copy of the Seventh Amendment to Credit Agreement is filed as Exhibit 10.1 to this Form 8-K and is incorporated by reference herein.

 

ITEM 9.01              FINANCIAL STATEMENTS AND EXHIBITS

 

(d)                                 Exhibits

 

10.1         Seventh Amendment to Credit Agreement

 

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 hereunto duly authorized.

 

Dated:  December 21, 2005

	MERITAGE HOMES CORPORATION
	/s/ Vicki L. Biggs
	By:	Vicki L. Biggs
		Controller and Chief Accounting Officer