Item 1.01. Entry into a Material Definitive Agreement.
On September 2, 2009, Champion Home Builders Co. ("Champion Homes"), a wholly-owned subsidiary of Champion Enterprises, Inc. (the "Company"), the Company and certain additional subsidiaries of the Company entered into a Seventh Amendment and Waiver to Amended and Restated Credit Agreement (the "Seventh Amendment") with certain financial institutions and other parties thereto as lenders (the "Lenders") and Credit Suisse, Cayman Islands Branch ("Credit Suisse"), as Administrative Agent, which modifies the Amended and Restated Credit Agreement, dated as of April 7, 2006, as amended, among Champion Homes, the Company, the Lenders and Credit Suisse, as Administrative Agent (the "Credit Agreement").
On August 12, 2009, the Company entered a Sixth Amendment to the Amended and Restated Credit Agreement that provided, among other things, for an initial 30-day waiver of certain covenants through September 11, 2009. On September 2, 2009, the Company entered the Seventh Amendment that provides, among other things, for an additional 30-day extension of the waiver of certain covenants through October 12, 2009. During the period of the Seventh Amendment, the Credit Agreement debt continues to be subject to the additional 2% per annum of interest, payable in kind, which was instituted with the Sixth Amendment. Other than the Credit Agreement, as amended, there are no material relationships between Credit Suisse or the Lenders and the Company or any of their respective affiliates, other than as follows: (i) the Company and its affiliates may have customary banking relationships with one or more of the Lenders and
(ii) affiliates of Credit Suisse have in the past provided investment banking and investment banking-related services to the Company and certain of its subsidiaries, and these entities may continue to do so in the future. The foregoing description of the Seventh Amendment is qualified in its entirety by reference to the full text of the Seventh Amendment, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference. Item 9.01. Financial Statements and Exhibits.
Exhibit 10.1 Seventh Amendment and Waiver to Amended and Restated Credit Agreement.

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