EXHIBIT 10B(ii)
SECOND AMENDMENT TO BAREBOAT CHARTER PARTY
THIS SECOND AMENDMENT TO BAREBOAT CHARTER PARTY, made as of this
day of October, 1995, (hereinafter referred to as the "Second Amendment")
by and between Kadampanattu Corp. (K Corp) and Trailer Bridge, Inc., (at
the time of the Amendment dated December 31, 1994, Xxxxx Freight 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, K Corp presently intends to modify each of the JAX-SAN XXXX
BRIDGE and SAN XXXX-JAX BRIDGE to add a mid-body section to increase each
vessels capacity; and
WHEREAS, Trailer Bridge wishes K Corp to so modify the vessels.
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:
I. Amendment to section entitled "Period" The section entitled
"Period" of each Bareboat Charter Party is hereby amended by deleting the
text thereof in its entirety and substituting the following therefor:
PERIOD. This Charter Party shall remain in effect 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, at which time this Charter Party may
be extended by mutual agreement of the parties.
II. Amendment to section entitled "Hire" The section entitled "Hire"
of each Bareboat Charter Party is hereby amended by adding the following
after the first sentence of the section:
The Charterer shall pay to the Owner for the use of the said vessel
after the vessel has been modified, 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 continuing
until the vessel is redelivered to Owner or Charterer gives notice of an
increase in such daily rate.
Except, and solely to the extent that the same has been specifically
modified, amended or supplemented hereby, by this Second Amendment, all of
the terms and conditions of the Bareboat Charter Party shall continue in
full force and effect.
IN WITNESS WHEREOF, K Corp and Trailer Bridge have caused this Second
Amendment to be executed as of the date and year first above written.
KADAMPANATTU CORP. TRAILER BRIDGE, INC.
By: /s/ Xxxx X. XxXxxx By: /s/ Xxxx X. XxXxxx
Xxxx X. XxXxxx Xxxx X. XxXxxx
President Vice President
