AMENDMENT TO PURCHASE AGREEMENTPurchase Agreement • October 31st, 2016 • Strategic Value Partners, LLC • Deep sea foreign transportation of freight
THIS AMENDMENT TO PURCHASE AGREEMENT (this “Amendment”) is made as of October 26, 2016, by and among Genco Shipping & Trading Limited, a Marshall Islands corporation (the “Company”), and the Investors set forth on the signature pages affixed hereto (each an “Investor” and collectively the “Investors”).
WAIVER October , 2016Strategic Value Partners, LLC • October 31st, 2016 • Deep sea foreign transportation of freight
Reference is made to the Purchase Agreement dated as of October 4, 2016 by and among Genco Shipping & Trading Limited and the undersigned Investors (the “Agreement”). Capitalized terms used but not defined herein have the respective meanings assigned to such terms in the Agreement. Pursuant to Section 9.6 of the Agreement, the Investors hereby waive, with respect to Section 7.11 of the Agreement (excluding the proviso thereof), (1) the purchase of shares of Series A Preferred Stock by the Investors or the Other Existing Investors or their respective affiliates in the Additional Private Placement in such amounts as the Company determines to allocate and (2) the sale in the Additional Private Placement of not more than $100 in shares of Series A Preferred Stock in excess of the $38,600,000 specified in such Section.
