Specific amendments to Facility Agreement. With effect on and from the Effective Date the Facility Agreement shall be, and shall be deemed by this Agreement to be, amended as follows:
(a) by deleting in the definition of “Indenture” in Clause 1.1 the words “18 December 2006 issued by the Borrower and the Corporate Guarantor for 9 1/2% Senior Notes due on 18 December 2014” and replacing them with the words “28 January 2011 issued by the Corporate Guarantor, Navios Maritime Finance II (US) Inc. and the guarantors party thereto (including the Borrower) for 8 1/8% Senior Notes due on 15 February 2019”;
Specific amendments to Facility Agreement. With effect on and from the Effective Date the Facility Agreement shall be, and shall be deemed by this Agreement to be, amended as follows:
(a) so that the financial covenants set out in paragraphs (a), (b), (c) and (d) of Schedule 3 and referred to in clause 9.16 shall not apply during the Covenant Waiver Period and so that on the next succeeding Business Day following the last day of the Covenant Waiver Period the Borrowers shall provide a compliance certificate in the form set out in Schedule 4 confirming that the Financial Covenants set out in Schedule 3 as amended by this Agreement have been complied with during the last financial quarter;
(b) so that during the Covenant Waiver Period the Borrowers and the Corporate Guarantor undertake to comply with the financial covenants and the undertakings set out in the Schedule to this Agreement;
(c) clauses 14.1 (b) shall be deleted and replaced with the following:
Specific amendments to Facility Agreement. With effect on and from the Effective Date the Facility Agreement shall be, and shall be deemed by this Agreement to be, amended as follows:
(a) by adding in Clause 1.1 thereof each of the definitions in Clause 1.2 of this Agreement and the Schedule of this Agreement (other than the definitions of “Effective Date” and “Facility Agreement”);
(b) by deleting the definition of “Applicable Margin” in Clause 1.1 and replacing it as follows:
Specific amendments to Facility Agreement. With effect on and from the Effective Date the Facility Agreement shall be, and shall be deemed by this Agreement to be, amended as follows:
(a) by adding in Clause 1.1 thereof each of the definitions in Clause 1.2 of this Agreement (other than the definitions of “Effective Date” and “Facility Agreement”);
(b) by adding in the first line of the definition of “Commercial Manager” in Clause 1.1, after the word “means” the words “, in respect of “NAVIOS ASTERIKS”, Kleimar, and in respect of the other Vessels,”;
(c) by adding as new items (z), (aa), (bb) and (cc) in the list of companies in the definition of “Guarantors” in Clause 1.1 the words “(z) White Narcissus Marine S.A.; (aa) the Aurora Owner, (bb) the Orbiter Owner and (cc) Kleimar N.V.;”
(d) by adding to the definition of “Mortgage” in Clause 1.1 after the words “in favour of the Security Trustee” the words “and in respect of “NAVIOS ASTERIKS”, the Asteriks Mortgage together with the Asteriks Deed of Covenant; in respect of “NAVIOS AURORA”, the Aurora Mortgage and in respect of “NAVIOS ORBITER” the Orbiter Mortgage;
Specific amendments to Facility Agreement. With effect on and from the Effective Date the Facility Agreement shall be, and shall be deemed by this Agreement to be, amended as follows:
(a) by adding in Clause 1.2 thereof each of the definitions in Clause 1.2 of this Agreement (other than the definitions of “Facility Agreement” and “Effective Date”);
(b) by deleting from the definition of “Applicable Margin” in Clause 1.2 the words “the relevant one of the following as shall be notified to the Borrower by the Agent under Clause 3.5” and replacing them with the words “from 1 November 2008 up to and including 31 January 2010, 2% per annum and at all other times the relevant one of the following as shall be notified to the Borrower by the Agent under Clause 3.5”;
(c) by deleting the definition of “LIBOR” from Clause 1.2 and replacing it with the following:
Specific amendments to Facility Agreement. With effect on and from the date of this Agreement the Facility Agreement shall be, and shall be deemed by this Agreement to be, amended as follows:
(a) by adding in Clause 1.2 thereof each of the definitions in Clause 1.2 and the Schedule of this Agreement (other than the definitions of “Facility Agreement” and “Advance H Drawdown Date”);
(b) by construing all references in the Facility Agreement and the other Security Documents to the Mortgages relative to the Existing Vessels and the Additional Vessels to mean those Mortgages as amended by the Advance H Mortgage Addenda;
(c) by adding in the definition of “Advances” in Clause 1.2 after the words “Advance G” the words “Advance H”;
Specific amendments to Facility Agreement. With effect on and from the date hereof the Facility Agreement shall be, and shall be deemed by this Agreement to be, amended as follows:
(a) by deleting in the definition of “Minimum Liquidity” in Clause 1.2 thereof the figure “USD20,000,000” and replacing it with the figure “USD25,000,000”; and
(b) by construing references throughout to “this Agreement”, “hereunder” and other like expressions as if the same referred to the Facility Agreement as amended and supplemented by this Agreement.
Specific amendments to Facility Agreement. With effect on and from the date hereof the Facility Agreement shall be, and shall be deemed by this Agreement to be, amended as follows:
(a) by deleting the definition of “Required Security Amount” and replacing it with:
Specific amendments to Facility Agreement. With effect on and from the Effective Date the Facility Agreement shall be, and shall be deemed by this Agreement to be, amended as follows:
(a) by adding in Clause 1.2 thereof each of the definitions in Clause 1.2 of this Agreement (other than the definitions of “Effective Date”, “Facility Agreement” and “Advance D Drawdown Date”);
(b) by construing all references in the Facility Agreement and the other Security Documents to the Mortgages relative to the Existing Vessels to mean those Mortgages as amended by the Mortgage Addenda;
(c) by deleting the definition of “Advances” in Clause 1.2 and replacing it with:-
Specific amendments to Facility Agreement. With effect on and from the date hereof the Facility Agreement shall be, and shall be deemed by this Agreement to be, amended as follows:
(a) by adding after the words “the Shares Pledges” in the definition of “Security Documents” in Clause 1.2 the words “, the Policy Undertaking Assignment”;
(b) by deleting Clause 4.7.2 and replacing it with:
