SEC Contract Filing

Filing Date: 2025-03-03

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<TYPE>EX-10.37
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<DESCRIPTION>EX-10.37
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<DIV><FONT size="1" style="font-size:1pt;color:white"> NOTICE OF BENCHMARK REPLACEMENT AND CONFORMING CHANGES AMENDMENT To the Borrower and Lenders under the Existing Agreement referred to below, Citizens Bank, N.A. (&#8220;Citizens&#8221;) is providing you with this notice and amendment (together with Exhibit A attached hereto, this &#8220;Notice and Amendment&#8221;) pursuant to the Credit Agreement, dated as of July 22, 2020, by and among Steven Madden, Ltd., a Delaware corporation, the other loan parties thereto, with Citizens, as the administrative agent (in such capacity, &#8220;Administrative Agent&#8221;) and as a lender, that references the Bloomberg Short-Term Bank Yield (&#8220;BSBY&#8221;) (such agreement as in effect prior to the Benchmark Replacement Date identified below, together with all other documents executed and delivered in connection therewith, is referred to as the &#8220;Existing Agreement&#8221;). Capitalized terms used but not defined herein have the meanings given to them in the Existing Agreement and this Notice, and Amendment, as applicable. BSBY Cessation and Benchmark Transition Event On November 15, 2023, Bloomberg Index Services Limited, the administrator of BSBY, announced that the permanent cessation of BSBY would occur after final publication of BSBY on November 15, 2024. As of November 16, 2024, BSBY is no longer available for determining the interest rate under the Existing Agreement. Accordingly, a &#8220;Benchmark Transition Event&#8221; has occurred under the Existing Agreement, and the Benchmark Replacement became effective thereunder on the Benchmark Replacement Date identified below for all purposes under the Existing Agreement without any amendment to, or further action or consent of any other party to, the Existing Agreement. Benchmark Replacement In accordance with the terms of the Existing Agreement, the Benchmark Replacement is the sum of (i) Term SOFR and (ii) for each applicable Interest Period referenced within the Existing Agreement, the corresponding Benchmark Replacement Adjustment set forth below: Interest Period Benchmark Replacement Adjustment One month 0.09347% Three months 0.26491% Six months 0.40124% Conforming Changes Citizens is hereby amending the Existing Agreement as of the Benchmark Replacement Date to make the Conforming Changes set forth on Exhibit A to this Notice and Amendment in connection with the use, administration, adoption or implementation of the Benchmark Replacement. In accordance with the terms of the Existing Agreement, such amendments shall be effective without any further action or consent of any other party to the Existing Agreement. Benchmark Replacement Date Citizens has determined that the Benchmark Replacement Date shall be November 16, 2024, provided that any outstanding credit extension or loan currently bearing interest at a previously determined BSBY-based rate that (a) is to be held constant for the duration of a specifically designated interest period that has commenced but has not yet concluded and (b) does not reset on a daily or a substantially daily basis (disregarding day count, weekend or holiday conventions) (each an &#8220;Existing BSBY Credit Extension&#8221;) shall continue in effect in accordance with its terms until the conclusion of the current interest period. The BSBY </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> Related Definitions (as defined in Exhibit A and as in effect immediately prior to the implementation of the Conforming Changes) shall continue in effect solely for the purpose of administering any such Existing BSBY Credit Extension through the conclusion of the current interest period. Notice If the Existing Agreement requires Citizens to provide notice to you or to any other party to the Existing Agreement of (a) a Benchmark Transition Event (or similar event), (b) the implementation of a Benchmark Replacement (or similar term for a replacement index), (c) the effectiveness of Conforming Changes (or similar term for modifications related to use, administration, adoption or implementation of a replacement index) or (d) any other matter in connection with the adoption and implementation of a replacement index or the use and administration thereof, then this Notice shall constitute notice under the Existing Agreement. BSBY Transition Amendments Executed Prior to the Benchmark Replacement Date To the extent that any amendment, restatement or other modification to the Existing Agreement duly executed and in effect prior to the Benchmark Replacement Date resulted in the replacement of all BSBY- based indexes thereunder prior to the Benchmark Replacement Date, this Notice and Amendment shall have no effect and be disregarded with respect to the Existing Agreement. No Other Changes Except as otherwise set forth in this Notice and Amendment, all other terms of the Existing Agreement remain unchanged. If you have questions regarding this Notice and Amendment, please contact your relationship manager or call client services at 877-550-5933, Monday through Friday, 7 a.m. &#8211; 7 p.m. ET. Sincerely, Citizens Bank, N.A. </FONT></DIV>
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