DryShips Inc. Attn.: Mr Ziad Nakhleh 80, Kifissias Av. 151 25 Amaroussion Greece Tanja Lauerer / st International Loans Direct Line +49 421 3609-290 Telefax +49 421 3609-329 tanja.lauerer@schiffsbank.com 19th May 2010
Exhibit 4.60
| Attn.: Xx Xxxx Xxxxxxx 00, Xxxxxxxxx Xx. 000 00 Xxxxxxxxxxx Xxxxxx |
Xxxxx Xxxxxxx / st International Loans
Direct Line x00 000 0000-000 Telefax x00 000 0000-000 xxxxx.xxxxxxx@xxxxxxxxxxx.xxx | |||
| 19th May 2010 | ||||
| 1. | USD 125 million loan facility between Deutsche Schiffsbank Aktiengesellschaft and Norwal Star Owners and Ionian Traders Inc. dated 13th May 2008 as amended (the “Capri / Positano Loan Facility”) |
| 2. | USD 35 million loan facility between Deutsche Schiffsbank Aktiengesellschaft and Ioli Owning Company Limited dated 2nd October 2007 as amended (the “Paros Loan Facility”) |
Dear Ziad,
Reference is made to your e-mail dated 7th May 2010 in connection with the request for a waiver in regard to Article 12.3.19 of the Capri/Positano Loan Facility and Article 12.2.19 of the Paros Loan Facility.
We, Deutsche Schiffsbank Aktiengesellschaft, (respective the syndicate of the above mentioned facilities) hereby confirm our approval to waive the Employment Requirement subject to a successful placement of the prospected USD 1bn high yield bond until 30th September 2010, which proceeds shall be used to secure the financing of the two Drillships 1837 and 1838. In case the bond can not be issued until the 30th September 2010 the original Employment Requirement will be triggered again.
The above approval is subject to documentation acceptable to us.
If you have any questions please do not hesitate to contact us.
| Best regards, |
| Deutsche Schiffsbank |
| Aktiengesellschaft |
| /s/ Illegible |
| Deutsche Schiffsbank Aktiengesellschaft | ||||||
| Domshof 17 D-28195 Bremen PO. Xxx 00 00 00 X-00000 Xxxxxx Telephone x00 000 0000-0 Telefax x00 000 0000-000 SWIFT XXXXXX00 |
Head Offices Bremen and Hamburg
Commercial Register Local Court Bremen HRB 0000 Xxxxx Xxxxx Xxxxxxx XXX 00000 VAT Reg. No. DE153094769 |
Chairman of the Supervisory Board Jochen Klösges
Board of Managing Directors Xxxxxx Xxxxxxx (Speaker of the Board) Xx. Xxxxxx Xxxxxxxxxx Xxxxxx Xxxxxx |
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