ADVENTURE EIGHT S. A. and Adventure Ten S.A. each a wholly owned subsidiary of the Borrower (together, the “Owners”), as guarantors, FREE BULKERS S.A., as manager, and the Mortgagee, as lender, pursuant to which, among other things, the Mortgagee has agreed to: (i) the deferral of the Reduction Dates of 5 September 2011 and 3 October 2011 in respect of the Additional Tranche and the deferral of the Reduction Dates of 5 September 2011 and 31 October 2011 in respect of the Initial Tranche, (ii) a change in the Margin; (iii) a change to the Security Requirement, (iv) changes to the repayment terms for the Loan and (v) certain other changes to the Loan Agreement all as set forth in the Fifth Supplement. A copy of the form of the Fifth Supplement, is attached hereto as Exhibit 1 and shall be read together herewith; and
ADVENTURE EIGHT S. A. ) Attorney-in-fact in the presence of: ) /s/ Xxxxxx Xxxxx Witness Name: Xxxxxx Xxxxx Address: Xxxxxx Xxxx LLP Occupation: Piraeus 36 EXECUTED as a DEED ) by Xxxxxxxxxx Xxxxxxx ) for and on behalf of ) /s/ Xxxxxxxxxx Xxxxxxx
ADVENTURE EIGHT S. A., ADVENTURE FIVE S.A.,
ADVENTURE EIGHT S. A. /s/ [ILLEGIBLE] in the presence of Attorney-in-Fact /s/ Ioannis Fassolis Witness: Name: Address: Occupation: EXECUTED as a DEED by for and on behalf of FREE BULKERS, S.A. /s/ [ILLEGIBLE] in the presence of Attorney-in-Fact /s/ Ioannis Fassolis Witness: Name: Address: Occupation: EXECUTED as a DEED by Xxxxx Gratzi for and on behalf of CREDIT SUISSE /s/ [ILLEGIBLE] in the presence of Attorney-in-Fact /s/ [ILLEGIBLE] Witness: Name: Ioannis Fassolis Address: 15 Sachtouri Str.
ADVENTURE EIGHT S. A. — Free Jupiter Corporate Guarantee, dated 14 April 2008 ADVENTURE EIGHT S.A. in favour of CREDIT SUISSE General Assignment, dated 14 April 2008 ADVENTURE EIGHT S.A.- $ 18,200,000 Charter Assignment, dated 14 April 2008 Manager’s Undertaking, dated 14 April 2008 FreeSeas First Preferred Xxxxxxxx Islands Ship Mortgage, dated 14 April 2008 Master Swap Agreement Flag Xxxxxxxx Islands ADVENTURE TEN S.A. in favour of CREDIT SUISSE Adventure Ten S.A. — Free Lady Corporate Guarantee General Assignment, dated 7 July 2008 Charter Assignment, dated 7 July 2008 Manager’s Undertaking, dated 7 July 2008 First Preferred Liberian Ship Mortgage, dated 7 July 2008 Flag Liberia FBB Original Agreement dated 31-03-08 First Priority Bahamian Ship Mortgage over Vessel (Adventure Nine S.A.) 02 April 2008 - Free Impala First Priority General Assignment of Earnings, Insurances and Requisition Compensation in respect of the Vessel 02 April 2008 Corporate Guarantee of the Corp. Guarantor (FreeSeas Inc.) 31 March 2008 Accounts Pledge Agreement in Greek language 31 March 2008 Manager’s Undertaking 31 March 2008 Flag Bahamas First Supplemental Agreement dated 17-03-09: Deed of Amendment of the Deed of Covenant 17 March 2009 Second Supplemental Agreement dated 03 August 2009: Deed of Amendment of the Deed of Covenant 03 August 2009 SCHEDULE 8 Existing Financial Indebtedness As of June 30, 2009, the company’s bank debt is analyzed as follows: HBU CREDIT SUISSE FBB Total December 31, 2008 $ 53,850 $ 81,750 $ 24,750 $ 160,350 Payments (7,500 ) (4,500 ) (1,500 ) (13,500 ) June 30, 2009 $ 46,350 $ 77,250 $ 23,250 $ 146,850
ADVENTURE EIGHT S. A. ) Attorney-in-fact in the presence of: ) /s/ Xxxx Xxxxxx Witness Name: Xxxx Xxxxxx Address: Xxxxxx Xxxx LLP Occupation: Trainee Solicitor EXECUTED as a DEED ) by Ion Varouxakis ) for and on behalf of ) /s/ Ion X. Xxxxxxxxxx
ADVENTURE EIGHT S. A., a corporation incorporated under the laws of the Republic of the Xxxxxxxx Islands having its registered office at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of Xxxxxxxx Islands MH96960 (the “Adventure Eight Borrower”);
ADVENTURE EIGHT S. A. ) Attorney-in-fact in the presence of: ) _______________________ Witness Name: Address: Occupation: EXECUTED as a DEED ) by ) for and on behalf of ) ______________________
ADVENTURE EIGHT S. A. ) Attorney-in-fact in the presence of: ) /s/ Xxxxxxxx - Xxxx Miliou Witness Name: Xxxxxxxx - Xxxx Miliou Address: Xxxxxx Xxxx LLP, Athens Occupation: Solicitor EXECUTED as a DEED ) by Ion X. Xxxxxxxxxx ) for and on behalf of ) /s/ Ion X. Xxxxxxxxxx
ADVENTURE EIGHT S. A. ) /s/ Ion X. Xxxxxxxxxx in the presence of ) Attorney-in-Fact Witness Name Evangella Platsidaki Xxxxxx Xxxx LLP - Athens Solicitor EXECUTED as a DEED by /s/ [ILLEGIBLE] ) duly authorised for and on behalf of )
