Second Extension of Limitation Period Under Amended and Restated Expense Limitation and Reimbursement Agreement between StepStone Group Private Debt LLC and StepStone Private Credit Fund LLC
This agreement, dated March 25, 2025, is between StepStone Group Private Debt LLC and StepStone Private Credit Fund LLC. It extends the period during which certain expense limitations and reimbursement terms apply, as set out in their previous agreement, for an additional year until April 3, 2026. The extension can be renewed for further one-year terms if both parties agree. All other terms of the original agreement remain unchanged.
Exhibit 10.25
StepStone Group Private Debt LLC
277 Park Avenue, 44th Floor
New York, New York 10172
March 25, 2025
StepStone Private Credit Fund LLC
277 Park Avenue, 44th Floor
New York, New York 10172
| Re: | Second Extension of Limitation Period Under Amended and Restated Expense Limitation and Reimbursement Agreement |
This Letter Agreement (this “Agreement”), entered into by and between StepStone Group Private Debt LLC (the “Advisor”) and StepStone Private Credit Fund LLC (the “Company”), relates to that certain Amended and Restated Expense Limitation and Reimbursement Agreement, dated November 8, 2023, by and between the Advisor and the Company (the “Expense Limitation Agreement”). Capitalized terms used herein shall have the same meanings herein as defined in the Expense Limitation Agreement, unless otherwise defined or modified herein.
This Agreement memorializes the Advisor’s and the Company’s mutual agreement, in consideration of the promises and mutual covenants contained herein and in the Expense Limitation Agreement, to extend the “Limitation Period” under the Expense Limitation Agreement, effective immediately, for an additional one-year term ending on April 3, 2026, which Limitation Period may be renewed by the mutual agreement of the Advisor and the Company for successive terms of one year.
Except as expressly amended hereby, the terms and conditions of the Expense Limitation Agreement remain in full force and effect. This Agreement shall be governed by the laws of the State of New York, without regard to its conflicts of law principles.
| STEPSTONE GROUP PRIVATE DEBT LLC | ||
| By: | /s/ Joseph Cambareri | |
| Name: Joseph Cambareri | ||
| Title: COO | ||
| Accepted and Agreed: | ||
| STEPSTONE PRIVATE CREDIT FUND LLC | ||
| By: | /s/ Joseph Cambareri | |
| Name: Joseph Cambareri | ||
| Title: Chief Financial Officer | ||
