SEC Contract Filing

Filing Date: 2024-02-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.12
<SEQUENCE>2
<FILENAME>crox123123ex1012-2024refin.htm
<DESCRIPTION>EX-10.12
<TEXT>
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<title>Document</title></head><body><div id="i65ff78c98c814c15b4da73059d042179_1"></div><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Exhibit 10.12</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10.5pt;font-style:italic;font-weight:700;line-height:100%">Execution Version</font></div></div><div style="padding-left:72pt;padding-right:72pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">2024 REFINANCING AMENDMENT </font></div><div style="padding-left:72pt;padding-right:72pt;text-align:center"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">This REFINANCING AMENDMENT (this &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:100%">Amendment</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#8221;), dated as of February 13, 2024, is made by and among Crocs, Inc.,</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">a Delaware corporation (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:100%">Borrower</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#8221;), the Subsidiary Guarantors party hereto, Citibank, N.A., as Administrative Agent under the Existing Credit Agreement (as defined below) (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:100%">Administrative Agent</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#8221;) and each of the Lenders party hereto.</font></div><div style="margin-bottom:12pt;padding-left:72pt;padding-right:72pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">PRELIMINARY STATEMENTS&#58;</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(1)&#160;&#160;&#160;&#160;The Borrower, the Lenders party thereto from time to time and the Administrative Agent are party to that certain Term Loan Credit Agreement, dated as of February 17, 2022 (as amended by the Refinancing Amendment, dated as of August 8, 2023, and as further amended, restated, supplemented, waived or otherwise modified from time to time prior to the date hereof, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:100%">Existing Credit Agreement</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; and, the Existing Credit Agreement as amended by this Amendment, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:100%">Amended Credit Agreement</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#8221;).</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(2)&#160;&#160;&#160;&#160;The Borrower has requested that the 2024 Refinancing Term Lenders (as defined below) provide 2024 Refinancing Term Loans (as defined below) in an aggregate principal amount of $820,000,000.00, as Refinancing Term Loans (as defined in the Existing Credit Agreement) pursuant to Section 2.22(a) of the Existing Credit Agreement. </font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(3)&#160;&#160;&#160;&#160;On the Refinancing Effective Date (as defined below), each Existing Term Lender (as defined below) that shall have executed and delivered a consent to this Amendment substantially in the form of the &#8220;Consent to Refinancing Amendment&#8221; posted to the Lenders on or about January 16, 2024 (a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:100%">2024 Refinancing Term Loan Consent</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#8221;) indicating the &#8220;Cashless Settlement Option&#8221; (each such Existing Term Lender, a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:100%">2024 Refinancing Term Cashless Settlement Option Lender</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#8221;) shall be deemed to have exchang