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EXHIBIT 10.10(e)
THIRD AMENDMENT OF AMENDED AND RESTATED
LOAN AND SECURITY AGREEMENT
This Third Amendment of Amended and Restated Loan and Security
Agreement (this "Amendment") is made as of February 1, 2000 by and between
SKECHERS U.S.A., INC., a California corporation ("Borrower") and THE CIT
GROUP/COMMERCIAL SERVICES, INC., a New York corporation ("Lender"), successor by
purchase to the Commercial Services Division of Xxxxxx Financial, Inc. This
Amendment is made with reference to that certain Amended and Restated Loan and
Security Agreement dated as of September 4, 1998 by and between Borrower and
Lender (as amended from time to time, the "Loan Agreement"). All capitalized
terms used herein and not otherwise defined shall have the meanings assigned to
such terms in the Loan Agreement.
Whereas, Borrower and Lender desire to amend certain terms of the Loan
Agreement as set forth below;
Now, Therefore, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:
SECTION 1. AMENDMENT
1.1 Subsection 4.6 of the Loan Agreement is amended by adding the
following new trade names or styles to Schedule 4.6:
SKECHERS SPORT
SKECHERS COLLECTIONS
SECTION 2. RATIFICATION OF AGREEMENT
2.1 To induce Lender to enter into this Amendment, Borrower represents
and warrants that after giving effect to this Amendment no violation of the
terms of the Loan Agreement exist and all representations and warranties
contained in the Loan Agreement are true, correct and complete in all material
respects on and as of the date hereof except to the extent such representations
and warranties specifically relate to an earlier date in which case they were
true, correct and complete in all material respects on and as of such earlier
date.
2.2 Except as expressly set forth in this Amendment, the terms,
provisions and conditions of the Loan Agreement and the other Loan Documents are
unchanged, and said agreements, as amended, shall remain in full force and
effect and are hereby confirmed and ratified.
SECTION 3. COUNTERPARTS; EFFECTIVENESS
This Amendment may be executed in any number of counterparts, and all
such counterparts taken together shall be deemed to constitute one and the same
instrument. Signature pages may be detached from counterpart documents and
reassembled to form duplicate executed originals. This Amendment shall become
effective as of the date hereof upon the execution of the counterparts hereof by
Borrower, Guarantor and Lender.
SECTION 4. GOVERNING LAW
THIS AMENDMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF CALIFORNIA.
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Witness the execution hereof by the respective duly authorized officers
of the undersigned as of the date first above written.
THE CIT GROUP/COMMERCIAL SKECHERS U.S.A., INC.
SERVICES, INC.
By: /s/ XXXXXXX X. XXXXXXX By: /s/ XXXXX XXXXXXXX
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Title: Vice President Title: CFO
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