Date: as of April 30, 2010 RUSHMORE SHIPPING LLC as Owner BEEKMAN SHIPPING CORP. as Charterer TBS INTERNATIONAL LIMITED TBS HOLDINGS LIMITED and TBS INTERANTIONAL PUBLIC LIMITED COMPANY as Guarantors FIFTH AMENDATORY AGREEMENT Amending and...Fifth Amendatory Agreement • May 10th, 2010 • TBS International PLC • Deep sea foreign transportation of freight
WHEREAS, the Owner, the Charterer and the Guarantors are parties to a bareboat charter party dated as of January 24, 2007, as amended and supplemented by the First Amendatory Agreement thereto dated as of March 26, 2009, the Second Amendatory Agreement thereto dated as of April 16, 2009, the Third Amendatory Agreement thereto dated as of December 31, 2009, and the Fourth Amendatory Agreement thereto dated as of January 12, 2010 (as so amended and supplemented, the “Charter”).
SUPPLEMENTAL LETTER TO THE LOAN AGREEMENTLoan Agreement • May 10th, 2010 • TBS International PLC • Deep sea foreign transportation of freight
Loan Agreement dated 7 December 2007 made between (i) Claremont Shipping Corp. and Yorkshire Shipping Corp. as joint and several Borrowers and (ii) Credit Suisse AG as Lender and Swap Bank relating to a term loan facility of US$40,000,000 as supplemented by an amendment letter dated 19 March 2008, a waiver letter dated 24 March 2009, an extension of waiver letter dated 22 December 2009, a supplemental agreement dated 8 January 2010 and a further extension of waiver letter dated 31 March 2010 (together the “Loan Agreement”)
AMENDMENT NO. 3 AND WAIVER TO CREDIT AGREEMENTCredit Agreement • May 10th, 2010 • TBS International PLC • Deep sea foreign transportation of freight • New York
This AMENDMENT NO. 3 AND WAIVER TO CREDIT AGREEMENT (this “Amendment”) dated as of March 31, 2010 and effective as of the Waiver Extension Effective Date (as defined below) or, with respect to Section 1 and Section 5 of this Amendment, on the Amendment No. 3 Effective Date (as defined below), as applicable, is by and among (i) ALBEMARLE MARITIME CORP., ARDEN MARITIME CORP., AVON MARITIME CORP., BIRNAM MARITIME CORP., BRISTOL MARITIME CORP., CHESTER SHIPPING CORP., CUMBERLAND NAVIGATION CORP., DARBY NAVIGATION CORP., DOVER MARITIME CORP., ELROD SHIPPING CORP., EXETER SHIPPING CORP., FRANKFORT MARITIME CORP., GLENWOOD MARITIME CORP., HANSEN SHIPPING CORP., HARTLEY NAVIGATION CORP., HENLEY MARITIME CORP., HUDSON MARITIME CORP., JESSUP MARITIME CORP., MONTROSE MARITIME CORP., OLDCASTLE SHIPPING CORP., QUENTIN NAVIGATION CORP., RECTOR SHIPPING CORP., REMSEN NAVIGATION CORP., SHEFFIELD MARITIME CORP., SHERMAN MARITIME CORP., STERLING SHIPPING CORP., STRATFORD SHIPPING CORP., VEDADO MARITIME
THIRD AMENDMENT TO LOAN AGREEMENT by and among AMOROS MARITIME CORP. LANCASTER MARITIME CORP. AND CHATHAM MARITIME CORP. as Borrowers TBS INTERNATIONAL LIMITED SHERWOOD SHIPPING CORP. AND TBS HOLDINGS LIMITED as Guarantors TBS INTERNATIONAL PUBLIC...Loan Agreement • May 10th, 2010 • TBS International PLC • Deep sea foreign transportation of freight
THIS THIRD AMENDMENT TO LOAN AGREEMENT (this “Third Amendment”) is made and entered into this 22nd day of April, 2010, by and among Amoros Maritime Corp., Lancaster Maritime Corp. and Chatham Maritime Corp., each a Marshall Islands corporation having a mailing address of P.O. Box HM 2522, Hamilton HMGX, Bermuda and a registered address of Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 (the “Borrowers”; each, a “Borrower”), TBS International Limited, a Bermuda corporation whose tax domicile is in Ireland (“TBSIL Guarantor”), Sherwood Shipping Corp. (“Sherwood”), TBS Holdings Limited, a Bermuda company (“Bermuda Holdco”), TBS International Public Limited Company, an Irish public limited company (“Parent Guarantor”), and AIG Commercial Equipment Finance, Inc., a Delaware corporation (together with its successors and assigns, “Lender”). Capitalized terms used and not defined in this Third Amendment shall have the meanings assigned in the Loan Agreem
AS AMENDEDAmending and Restating Agreement • May 10th, 2010 • TBS International PLC • Deep sea foreign transportation of freight
Dated: as of April 30, 2010 BEDFORD MARITIME CORP. BRIGHTON MARITIME CORP. HARI MARITIME CORP. PROSPECT NAVIGATION CORP. HANCOCK NAVIGATION CORP COLUMBUS MARITIME CORP. and WHITEHALL MARINE TRANSPORT CORP. as joint and several Borrowers TBS...Fourth Amendatory Agreement • May 10th, 2010 • TBS International PLC • Deep sea foreign transportation of freight
WHEREAS, the Borrowers, the Guarantors, the Lender, the Facility Agent, the Security Trustee, the Swap Banks and others are parties to a Loan Agreement dated as of January 16, 2008, as amended by a First Amendatory Agreement dated as of March 23, 2009, a Second Amendatory Agreement dated as of December 31, 2009 and a Third Amendatory Agreement dated as of January 11, 2010 (as so amended, the “Loan Agreement”).
Date 7 May 2010 ARGYLE MARITIME CORP. CATON MARITIME CORP. DORCHESTER MARITIME CORP. LONGWOODS MARITIME CORP. McHENRY MARITIME CORP. SUNSWYCK MARITIME CORP. as Joint and Several Obligors – and – THE ROYAL BANK OF SCOTLAND PLC as Issuer AMENDING AND...Amending and Restating Agreement • May 10th, 2010 • TBS International PLC • Deep sea foreign transportation of freight
Clause Page 1 INTERPRETATION 1 2 AGREEMENT OF ALL PARTIES TO THE AMENDMENT OF THE FACILITY AGREEMENT AND EXISITING FINANCE DOCUMENTS 2 3 CONDITIONS PRECEDENT 2 4 REPRESENTATIONS AND WARRANTIES 2 5 AMENDMENT OF FACILITY AGREEMENT AND EXISTING FINANCE DOCUMENTS 3 6 FURTHER ASSURANCES 3 7 NOTICES 4 8 SUPPLEMENTAL 4 9 LAW AND JURISDICTION 4 EXECUTION PAGES 5 APPENDIX 1 FORM OF AMENDMENT AND RESTATED FACILITY AGREEMENT MARKED TO INDICATE AMENDMENTS TO THE LOAN AGREEMENT 7 APPEDIX 2 FORM OF CORPORATE GUARANTEE SUPPLEMENTS 8
BERENBERG BANK (letterhead)TBS International PLC • May 10th, 2010 • Deep sea foreign transportation of freight
We refer to the loan agreement dated 19 June 2008 made between yourselves as Borrower and ourselves as Lender in which we provide you a facility of up to USD 13,000,000.00 for the part-financing of MV “Ottawa Princess” (the “Loan Agreement”). Words and expressions defined in the Loan Agreement shall have the same meaning when used in this letter.
