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EXHIBIT 10.10(j)
EIGHTH AMENDMENT TO LOAN AND SECURITY AGREEMENT
This Eighth Amendment to that certain Amended and Restated Loan
and
Security Agreement ("Amendment") is made
and entered into as of September 30,
2002, by and between Skechers U.S.A., Inc.
("Borrower") and The CIT
Group/Commercial Services, Inc. ("CIT"),
successor by purchase to the Commercial
Services Division of Heller Financial,
Inc., as Agent and as Lender ("Agent").
All capitalized terms used herein and not
otherwise defined shall have the
meanings assigned to such terms in the
Amended and Restated Loan and Security
Agreement.
WHEREAS, Agent and Borrower are parties to a certain Amended
and
Restated Loan and Security Agreement, dated
September 4, 1998 and all amendments
thereto (the "Agreement"); and
WHEREAS, Borrower and Agent desire to amend the Agreement as
hereinafter set forth;
NOW THEREFORE, for good and valuable consideration, the receipt
and
sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as
follows:
SECTION 1. AMENDMENT
1.1 Delete the
definition of "Letter of Credit Reserve" set forth in
Section 11.1 of the Agreement in its entirety and substitute
the
following:
"Letter of Credit Reserve" means, at any time, an
amount equal to (a) 50% of the aggregate amount of Letter of
Credit Liability to the extent that such amount is $1,000,000
or less, plus (b) 75% of the aggregate amount of Bank
Acceptances to the extent that such amount exceeds $1,000,000,
plus (c) without duplication, the aggregate amount theretofore
paid by Agent or any Lender under Lender Letters of Credit and
not
