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EXHIBIT 10.2.4
FOURTH AMENDMENT TO BAREBOAT CHARTER PARTY
THIS FOURTH AMENDMENT TO BAREBOAT CHARTER PARTY, made as of this
__ day of _______, 1997, (hereinafter referred to as the "Fourth Amendment")
by and between Kadampanattu Corp. (K Corp) and Trailer Bridge, Inc., (Trailer
Bridge).
WHEREAS, in February, 1992 K Corp and Trailer Bridge entered into two
(2) identical Bareboat Charter Party agreements for the vessels JAX-SAN XXXX
BRIDGE and SAN XXXX-JAX BRIDGE; and
WHEREAS, such Bareboat Charter Party agreements were extended each
year for an additional year; and
WHEREAS, in December, 1994 K Corp and Trailer Bridge entered into an
amendment to extend such Bareboat Charter Party agreements to March 1, 1997;
and
WHEREAS, in October, 1995 K Corp and Trailer Bridge entered into an
amendment to extend such Bareboat Charter Party agreements until the later of
March 1, 1997 and the date upon which the Construction and Term Loan Agreement
between K Corp and The First National Bank of Boston terminates and all Loans
and other obligations thereunder have been indefeasibly and irrevocably repaid
in full, in cash, and
WHEREAS, in March, 1997 K Corp and Trailer Bridge entered into an
amendment to extend such Bareboat Charter Party agreements to at least
September 1, 2010.
In consideration of the mutual covenants and agreements to be kept and
performed on the part of said parties hereto, respectively as herein stated, K
Corp and Trailer Bridge hereby agree as follows:
1. Amendment to section entitled "HIRE". The
section entitled "HIRE" of each Bareboat Charter Party is
hereby amended by deleting "at the rate of Ten Thousand Five
Hundred Dollars per day commencing on and from the day and
hour the vessel is redelivered in its modified state to the
Charterer" and replacing it with "Ten Thousand Fifty Dollars
per day".
Except, and solely to the extent that the same has been specifically
modified, amended or supplemented hereby, by this Third Amendment, all of the
terms and conditions of the Bareboat Charter Party shall continue in full force
and effect.
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IN WITNESS WHEREOF, K Corp. and Trailer Bridge have caused this Third
Amendment to be executed as of the date and year first above written.
KADAMPANATTU CORP.
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By: Xxxx X. XxXxxx
President
TRAILER BRIDGE, INC.
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By: Xxxx X. XxXxxx
Chairman
