SEC Info℠ | Home | Search | My Interests | Help | Sign In | Please Sign In | ||||||||||||||||||||
¶
– Release Delayed ·As Of Filer Filing For·On·As Docs:Size Issuer Agent 5/08/18 EuroDry Ltd. F-1¶ 42:14M Seward & Kissel LLP |
Document/Exhibit Description Pages Size 1: F-1 Registration Statement by a Foreign Private Issuer HTML 1.07M 42: CORRESP ¶ Comment-Response or Other Letter to the SEC HTML 15K 2: EX-3.1 Articles of Incorporation/Organization or By-Laws HTML 58K 3: EX-3.2 Articles of Incorporation/Organization or By-Laws HTML 58K 4: EX-4.1 Instrument Defining the Rights of Security Holders HTML 21K 5: EX-4.2 Instrument Defining the Rights of Security Holders HTML 18K 6: EX-4.3 Instrument Defining the Rights of Security Holders HTML 46K 7: EX-4.4 Instrument Defining the Rights of Security Holders HTML 141K 8: EX-4.5 Instrument Defining the Rights of Security Holders HTML 231K 9: EX-4.6 Instrument Defining the Rights of Security Holders HTML 268K 10: EX-5.1 Opinion re: Legality HTML 19K 11: EX-8.1 Opinion re: Tax Matters HTML 20K 12: EX-10.1 Material Contract HTML 44K 21: EX-10.10 Material Contract HTML 124K 22: EX-10.11 Material Contract HTML 62K 23: EX-10.12 Material Contract HTML 78K 24: EX-10.13 Material Contract HTML 138K 25: EX-10.14 Material Contract HTML 619K 26: EX-10.15 Material Contract HTML 61K 27: EX-10.16 Material Contract HTML 554K 28: EX-10.17 Material Contract HTML 17K 29: EX-10.18 Material Contract HTML 68K 30: EX-10.19 Material Contract HTML 141K 13: EX-10.2 Material Contract HTML 43K 31: EX-10.20 Material Contract HTML 162K 32: EX-10.21 Material Contract HTML 494K 33: EX-10.22 Material Contract HTML 106K 34: EX-10.23 Material Contract HTML 126K 35: EX-10.24 Material Contract HTML 86K 36: EX-10.25 Material Contract HTML 66K 37: EX-10.26 Material Contract HTML 191K 14: EX-10.3 Material Contract HTML 147K 15: EX-10.4 Material Contract HTML 17K 16: EX-10.5 Material Contract HTML 12K 17: EX-10.6 Material Contract HTML 342K 18: EX-10.7 Material Contract HTML 20K 19: EX-10.8 Material Contract HTML 454K 20: EX-10.9 Material Contract HTML 627K 38: EX-14.1 Code of Ethics HTML 50K 39: EX-21.1 Subsidiaries HTML 13K 40: EX-23.1 Consent of Experts or Counsel HTML 12K 41: EX-23.3 Consent of Experts or Counsel HTML 13K
d1378176_ex4-36.htm |
(1)
|
MANOLIS SHIPPING LIMITED being a company incorporated in accordance with the laws of the Republic of the Marshall Islands, whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH 96960, Republic of Marshall Islands (referred to below as "the Borrower");
|
(2)
|
SAF-CONCORD SHIPPING LTD, being a company incorporated in accordance with the laws of the Republic of Liberia whose registered office is situated at 80, Broad Street, Monrovia, Liberia (referred to below as the "Additional Corporate Guarantor A");
|
(3)
|
TIGER NAVIGATION CORP., being a company incorporated in accordance with the laws of the Republic of the Marshall Islands, whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH 96960, Republic of Marshall Islands (referred to below as the "Additional Corporate Guarantor B");
|
(4)
|
ALTERWALL BUSINESS INC. being a company incorporated in accordance with the laws of the Republic of Panama, whose registered office is at c/o Quijano y Asociates, Salbuda Building, top floor, East 53rd Street, Urbanizacion Obarrio, P.O. BOX 7284, Panama 5, Panama (referred to below as the "Additional Corporate Guarantor C");
|
(5)
|
Eurobank Private Bank Luxembourg SA (formerly known as Eurobank EFG Private Bank Luxembourg SA), a banking societe anonyme duly incorporated under the laws of Luxembourg, having its registered office at 5, rue, Jean Monnet, L-2180 Luxembourg (referred to below as the "Bank");
|
(6)
|
Eurobank Ergasias S.A. (formerly known as EFG Eurobank Ergasias S.A.), a banking societe anonyme duly incorporated under the laws of Greece, having its registered office at 8, Othonos Street, Athens, Greece, acting for the purposes of this Agreement through its office at 83, Akti Miaouli, 185 38 Piraeus, Greece, in its capacity as agent for the Bank (referred to below as the "Agent"); and
|
(7)
|
Eurobank Ergasias S.A. (formerly known as EFG Eurobank Ergasias S.A.), a banking societe anonyme duly incorporated under the laws of Greece, having its registered office at 8, Othonos Street, Athens, Greece, acting for the purposes of this Agreement through its office at 83, Akti Miaouli, 185 38 Piraeus, Greece (referred to below as the "Party A to the Master Swap Agreement").
|
(A)
|
The Borrower hereby acknowledges receipt of the whole amount of the Original Loan and further acknowledges that, the total amount of principal of the Original Loan remaining currently outstanding under the Loan Agreement amounts to United States Dollars Six Million Six Hundred Forty Thousand (US$6,640,000) ("the Loan").
|
(B)
|
The Borrower has also entered with the Party A to the Master Swap Agreement into a master swap agreement (on the 1992 ISDA (Multicurrency-Crossborder) form) and the schedule thereto dated 7th June 2007 including all Designated Transactions from time to time entered into and Confirmations of Designation Transactions from time to time exchanged under the said master swap agreement (the "Master SwapAgreement").
|
(C)
|
Pursuant to the Loan Agreement and as security for the prompt performance by the Borrower of all its obligations under the Loan Agreement and the other documents referred therein as "Security Documents", there were executed and are currently in full of force and effect inter alia: (a) a security deed dated 7th June, 2007 executed by the Borrower in favour of the Original Bank (the "Master Agreement Security Deed"), (b) a corporate guarantee and indemnity dated 7th June, 2007 executed by Euroseas Ltd. of the Marshall Islands (the "Corporate Guarantor") in favour of the Original Bank (the "Corporate Guarantee"), (c) a pledge agreement on the Operating Account No 0026.0029.20.1200284659 dated 7th June, 2007 entered into between the Original Bank and the Borrower and duly served through a Court
Bailiff with the Original Bank), (d) a pledge agreement on the Operating Account No 0026.0029.21.1200236674 dated 7th June, 2007 entered into between the Original Bank and the Corporate Guarantor and duly served through a Court Bailiff with the Original Bank, (e) a pledge agreement on the Retention Account No 0026.0029.28.1200284747 dated 7th January, 2007 entered into between the Original Bank and the Borrower and duly served through a Court Bailiff with the Original Bank (documents referred under (c) to (e), the "Account Pledges"), (f) a first preferred ship mortgage on the m.v Manolis P (the "Vessel") made between the Borrower and the Original Bank dated the 7th June 2007, duly registered with the Maritime Office in Piraeus of the Republic of the Marshall Islands on June 7th, 2007 at 12:50 P.M., E.E.S.T.
(the "Mortgage"), (g) a deed of assignment in respect of the Vessel dated 7th June 2007, made between the Borrower and the Original Bank together with the relevant notices of assignment and loss payable clause in respect of the Vessel's insurances earnings, charter rights and requisition compensation (the "General Assignment"), (h) a manager's undertaking dated 7 June 2007 in relation to the Vessel (the "OriginalManager's Undertaking"), (i) a corporate guarantee and indemnity
|
(D)
|
Pursuant to an assignment agreement dated 29th July 2011 as same was amended by an amendment agreement dated 29th November 2011 (together, "Assignment Agreement"), made between the Original Bank and the Bank, (a) the Original Bank assigned to the Bank and the Bank accepted, as if originally named as an original bank/lender, all the rights and benefits liabilities and obligations of the Original Bank under or in respect of (inter alia) the Loan Agreement, the Master Agreement Security Deed, the Corporate Guarantee, the Account Pledges, the Mortgage, the General Assignment, the Original Manager's Undertaking, the Existing Additional Corporate Guarantee and the Manager's Undertaking 2009 (as all these terms are defined in Recital (C) above and any other agreement or instrument relating to the same (save from the Master Swap Agreement) ("Manolis Facility Assigned Assets")
and (b) the Bank appointed the Original Bank to act as the Bank's agent and authorized the Agent to perform the duties and exercise the rights, powers and discretions that are specifically given to it under the Loan Agreement and the Manolis Facility Assigned Assets, all on the terms and subject to the conditions contained therein and the Borrower hereby acknowledges that it has received notice of the assignment effected by virtue of the Assignment Agreement.
|
(E)
|
The parties have further agreed to terminate the Master Swap Agreement and the Master Agreement Security Deed and the parties thereto to be released from any rights and/or obligations thereunder.
|
(F)
|
In view of the decline observed in the value of the Vessel (as this term is defined in the Original Loan Agreement) and in order for the Bank to continue to make the Loan available to the Borrower, the Bank has requested, that the Borrower provides to the Bank in accordance with the provisions of Clause 13.5 of the Original Loan Agreement with additional security (acceptable to the Bank) for so long as the Security Value is less than the Minimum Value (as these terms are defined in the Original Loan Agreement), which the Borrower has agreed to do on the terms and subject to the conditions of this Second Supplemental Agreement.
|
(G)
|
As a condition precedent to the Bank's agreement to continue to make the Loan available to the Borrower, the Borrower has agreed, inter alia, to procure that additional security (acceptable to the Bank) be provided and more particularly to procure Additional Corporate Guarantor A to execute and deliver a confirmation to the Existing Additional Corporate Guarantee and each of the Additional Corporate Guarantor B and the Additional Corporate Guarantor C (as hereinafter defined), each being a company affiliated to the Borrower to execute and deliver the respective Additional Corporate Guarantee (as hereinafter defined) of the Borrower's obligations under the Loan Agreement each Additional Corporate Guarantee to be secured by the relevant Collateral Mortgage, the relevant Collateral Assignment, (where applicable) the relevant Collateral Pledge, and the New Manager's Undertaking (as these terms are hereinafter defined) and to accept certain amendments to be
made to the Loan Agreement as described hereinafter.
|
(H)
|
The Bank has agreed to give its consent to the above on the terms and subject to the conditions of this Second Supplemental Agreement which shall be read as one with the Original Loan Agreement and the definitions contained in the Original Loan Agreement shall apply to the provisions of this Second Supplemental Agreement, save to the extent that such definitions are amended hereunder and in consequence thereof the parties hereto enter into this Second Supplemental Agreement.
|
1.1
|
Words and expressions defined in the Loan Agreement (as hereby supplemented and amended) and not otherwise defined herein shall have the same meanings when used in this Second Supplemental Agreement.
|
1.2
|
In this Second Supplemental Agreement the words and expressions specified below shall have the meaning attributed to them below:
|
(b)
|
the guarantee and indemnity given or, as the context may require, to be given by the Additional Corporate Guarantor B in form and substance satisfactory to the Bank, as security for the Indebtedness and any and all obligations of the Borrower under the Loan Agreement, such guarantee to be released by the Bank at the request of the Additional Corporate Guarantor B and in its expense provided that the Security Value is in excess of the Minimum Value (as these terms are defined in the Original Loan Agreement) (the "Additional Corporate Guarantee B"); and
|
(c)
|
the guarantee and indemnity given or, as the context may require, to be given by the Additional Corporate Guarantor C in form and substance satisfactory to the Bank, as security for the Indebtedness and any and all obligations of the Borrower under the Loan Agreement, such guarantee to be released by the Bank at the request of the Additional Corporate Guarantor C and in its expense provided that the Security Value is in excess of the Minimum Value (as these terms are defined in the Original Loan Agreement) (the "Additional Corporate Guarantee C");
|
(a)
|
SAF-CONCORD SHIPPING LTD, being a company incorporated in accordance with the laws of the Republic of Liberia whose registered office is situated at 80, Broad Street, Monrovia, Liberia (the "Additional Corporate Guarantor A");
|
(b)
|
TIGER NAVIGATION CORP., being a company incorporated in accordance with the laws of the Republic of the Marshall Islands, whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH 96960, Republic of Marshall Islands (the "Additional Corporate Guarantor B"); and
|
(c)
|
ALTERWALL BUSINESS INC. being a company incorporated in accordance with the laws of the Republic of Panama (the "Additional Corporate Guarantor C");
|
(a)
|
the second preferred ship mortgage on the Collateral Vessel A executed or, as the context may require, to be executed by the Additional Corporate Guarantor A in favour of the Bank, as security of the obligations of the Additional Corporate Guarantor A under the Additional Corporate Guarantee A, such mortgage to be released by the Bank at the request of the Additional Corporate Guarantor A and in its expense provided that the
|
(b)
|
the second preferred ship mortgage on the Collateral Vessel B executed or, as the context may require, to be executed by the Additional Corporate Guarantor B in favour of the Bank, as security of the obligations of the Additional Corporate Guarantor B under the Additional Corporate Guarantee B, such mortgage to be released by the Bank at the request of the Additional Corporate Guarantor B and in its expense provided that the Security Value is in excess of the Minimum Value (as these terms are defined in the Original Loan Agreement ("Collateral Mortgage B"); and
|
(c)
|
the first preferred ship mortgage on the Collateral Vessel C executed or, as the context may require, to be executed by the Additional Corporate Guarantor C in favour of the Bank, as security of the obligations of the Additional Corporate Guarantor C under the Additional Corporate Guarantee C, such mortgage to be released by the Bank at the request of the Additional Corporate Guarantor C and in its expense provided that the Security Value is in excess of the Minimum Value (as these terms are defined in the Original Loan Agreement ("Collateral Mortgage C");
|
(a)
|
the m.v. MONICA P. built in 1998, being of 27011 gross tons and of 16011 net tons currently registered under the Liberian flag with Official Number 10909 in the ownership of the Additional Corporate Guarantor A ("Collateral Vessel A"), and
|
(b)
|
the m.v. "TIGER BRIDGE" built in 1990, being of 24495 gross tons and of 10403 net tons currently registered under the Marshall Islands flag in the ownership of the Additional Corporate Guarantor B ("Collateral Vessel B"); and
|
(c)
|
the m.v. NINOS, built in 1990, being of 15122 gross tons and of 6244 net tons currently registered under the Panama flag with IMO N 8909082 in the ownership of the Additional Corporate Guarantor C ("Collateral Vessel C");
|
(a)
|
the first preferred Marshall Islands Ship Mortgage dated 7th June 2007 made between the Borrower and the Original Bank, duly registered with the Maritime Office in Piraeus of the Republic of the Marshall Islands on June 7th, 2007 at 12:50 P.M., E.E.S.T. which has been assigned (or as the case may be) will be assigned to the Bank pursuant to the Assignment Agreement and the Mortgage Amendment and Assignment (the "Vessel's Mortgage"); and
|
1.3
|
Where the context so admits words importing the singular number only shall include the plural and vice versa and words importing persons shall include firms and corporations. Clause headings are inserted for convenience of reference only and shall be ignored in construing this Second Supplemental Agreement. References to Clauses are to clauses of this Second Supplemental Agreement save as may be otherwise expressly provided in this Second Supplemental Agreement.
|
2.1
|
Each of the Borrower and the Additional Corporate Guarantors hereby represents and warrants to the Bank and/or the Agent, as of the date of this Second Supplemental Agreement, each of the representations and warranties contained in Clause 4 of the Original Loan Agreement are true and correct, including to the extent that they may have been or shall be amended by this Second Supplemental Agreement and shall be deemed repeated herein as if contained in extenso and as if made with reference to the facts and circumstances existing on the date hereof, as if references to the Security Documents included this Second Supplemental Agreement and the Additional Security Documents and excluded the Released Documents and as if references to the Security Parties included the Additional Corporate Guarantors.
|
2.2
|
Each of the Borrower and the Additional Corporate Guarantors hereby expressly agrees and acknowledges and represents and warrants to the Bank that the Loan Agreement as amended hereby shall remain in full force and effect and the security constituted by the Security Documents, including the Additional Security Documents, executed by the Borrower, the Corporate Guarantor and the Additional Corporate Guarantors and/or the Manager (as the case may be) shall continue to remain valid and enforceable and in full force and effect.
|
2.3
|
Each of the Borrower and the Additional Corporate Guarantors hereby further represents and warrants to the Bank that, as of the date of this Second Supplemental Agreement:
|
(a)
|
In the case of the Borrower, the Corporate Guarantor, the Additional Corporate Guarantors, and/or the Manager:
|
(i)
|
a recent certificate of good standing in relation to the Borrower, the Corporate Guarantor, each Additional Corporate Guarantor, and/or the Manager issued by the relevant authorities of the country of its incorporation together with certified copies of the Articles of Incorporation (or equivalent documents) and all amendments thereto and any other documents required to be filed or registered or issued under the laws of the country of its respective incorporation to establish the incorporation and/or good standing (as the case may be) of each of the Borrower, the Corporate Guarantor, the Additional Corporate Guarantors, and/or the Manager under the laws of such country;
|
(ii)
|
certified and duly legalised copies of resolutions passed at a meeting of the Board of Directors of, and of the resolutions passed at a meeting of the Shareholders of the Borrower, the Corporate Guarantor, each Additional Corporate Guarantor, and/or the Manager evidencing approval to the variation of the Loan Agreement pursuant to Clause 5 and the execution of all documents contemplated hereby to which each of the Borrower, the Corporate Guarantor, the Additional Corporate Guarantors, and/or the Manager is a party and authorising appropriate officers or attorneys to execute the same and to sign any other documents, notices, letters or other communications required to be given by it pursuant hereto and thereto or other evidence of such approvals and authorisations as shall be acceptable to the Bank and/or the Agent;
|
(iii)
|
the original of a duly legalised power(s) of attorney issued by each of the Borrower, the Corporate Guarantor, the Additional Corporate Guarantors, and/or the Manager, pursuant to the resolutions referred to in Clause 4.1 (a)(ii) under which any documents (including this Second Supplemental Agreement) are to be executed or transactions to be undertaken by the Security Parties under or pursuant to this Second Supplemental Agreement including for the avoidance of doubt the Additional Security Documents;
|
(iv)
|
a list (certified by the Secretary or a Director or other appropriate officer of the the Borrower, the Corporate
|
(v)
|
copies of all governmental and other consents, licenses, approvals and authorisations as may be necessary to authorise the performance by the Borrower, the Corporate Guarantor, the Additional Corporate Guarantors, and/or the Manager of their respective obligations under those of this Second Supplemental Agreement and the Additional Security Documents to which each of the above entities is a party and the execution, validity and enforceability of this Second Supplemental Agreement and the Additional Security Documents;
|
(b)
|
this Second Supplemental Agreement and the Additional Security Documents in favour of the Bank, duly executed by the relevant Security Party and in the case of the Collateral Mortgages registered with second priority in the case of Collateral Mortgage A and Collateral Mortgage B and with first priority in the case of Collateral Mortgage C at the competent port of registry together with all items and documents to be delivered pursuant thereto;
|
(i)
|
duly and permanently registered under the Marshall Islands flag in the absolute and unencumbered ownership of the Borrower save for the Mortgage and save as contemplated by this Second Supplemental Agreement and continues to trade in full compliance with all applicable laws;
|
(ii)
|
managed by the Manager pursuant to the terms of the relevant management agreement, a copy of which will have been delivered to and approved by the Bank and/or the Agent; and
|
(iii)
|
insured in the name of the Borrower and/or of the Corporate Guarantor and/or the Manager as co-assured in accordance with the terms and conditions of the Mortgage;
|
(d)
|
updated class maintenance certificate issued by the classification society of the Vessel which will be at all terms satisfactory to the Bank and/or the Agent;
|
(i)
|
duly and permanently registered under the relevant flag in the absolute and unencumbered ownership of the relevant Additional Corporate Guarantor save for the first priority mortgage in favour of the Bank in the case of Collateral Vessel A and Collateral Vessel B and save as contemplated by this Second Supplemental Agreement and continues to trade in full compliance with all applicable laws;
|
(ii)
|
managed by the Manager pursuant to the terms of the relevant management agreement, copy of which will have been delivered to and approved by the Bank and/or the Agent; and
|
(iii)
|
insured in the name of the relevant Additional Corporate Guarantee and of the Corporate Guarantor and the Manager as co-assured in accordance with the terms and conditions of the relevant Collateral Mortgage and that appropriate letters of undertaking will be issued in the manner specified by the relevant Collateral Mortgage;
|
(f)
|
photocopies, certified as true, accurate and complete, by a director of each Additional Corporate Guarantor in relation to each Collateral Vessel of Safety Construction, Safety Equipment, Safety Radio and Load Line Certificates (including SMC, ISSC and DOC) in relation to each Collateral Vessel;
|
(g)
|
photocopies of any charterparty or other contract of employment in relation to each Collateral Vessel which will be in force at the Effective Date;
|
(h)
|
copy of the Confirmation of Class for Hull and Machinery confirming that each Collateral Vessel is classed with the highest class of Lloyd's or equivalent
|
(i)
|
evidence that each Additional Corporate Guarantor and the Manager are in current compliance with the requirements of the International Management Code for the Safe Operation of Ships and for Pollution Prevention (as adopted by the International Maritime Organisation as Resolution A.741 (18) (the "ISM Code");
|
(i)
|
evidence that each Additional Corporate Guarantor and the Manager are in current compliance with the provisions of the International Ship and Port Facilities Security (ISPS) Code and the other respective amendments of SOLAS and will maintain at all times throughout the Facility Period a valid International Ship Security Certificate (ISSC) in respect of its vessel and all other valid certificates evidencing compliance with this Clause;
|
4.2
|
Conditions subsequent The Borrower undertakes to deliver or to cause to be delivered to the Bank on, or as soon as practicable after the Effective Date:
|
(a)
|
Certificate issued by the competent ships register or other evidence satisfactory to the Bank confirming that each Collateral Vessel is owned by the relevant Additional Corporate Guarantor and that the respective Collateral Mortgage is duly registered with second priority in the case of Collateral Vessel A and Collateral Vessel B and with first priority in the case of Collateral Vessel C and otherwise free of registered encumbrances;
|
(b)
|
confirmation from the relevant insurance brokers that the interest of the Bank as Mortgagee and Assignee of the Vessel has been duly endorsed and letters of
|
(c)
|
evidence that the person(s) referred to in Clause 25 of the Loan Agreement has accepted his/their appointment as Process Agent (antiklitos);
|
(d)
|
such favourable legal opinions from lawyers acceptable to the Bank and/or the Agent and its legal advisors on such matters concerning the laws of the Republic of the Marshall Islands, the Republic of Liberia and such other relevant jurisdiction as the Bank and/or the Agent shall require;
|
(e)
|
evidence that the Bank and/or the Agent has received the amount required for settlement of the fees and costs relating to the execution of this Second Supplemental Agreement and all other documents contemplated hereby including those relating to all necessary filings, registrations and legalisations thereof.
|
4.3
|
Without prejudice to the provisions of Clause 4.1, each of the Borrower and each of the Additional Corporate Guarantors hereby jointly and severally undertakes with the Bank and/or the Agent to make or procure to be made such amendments and/or additions to any of the documents delivered to the Bank and/or the Agent in accordance with Clause 4.1 and to execute and/or deliver to the Bank and/or the Agent or procure to be executed and/or delivered to the Bank and/or the Agent such further documents as the Bank and/or the Agent and its legal advisors may reasonably require to satisfy themselves that all the terms and requirements of this Second Supplemental Agreement have been complied with.
|
4.4
|
Without prejudice to the provisions of Clause 4.1, 4.2 and 4.3, in the event of any of the conditions referred to in this Clause 4 not being satisfied (whether with the express or implied agreement of the Bank and/or the Agent or otherwise), the Borrower will comply or procure compliance with all such conditions by no later than fourteen (14) days from the Effective Date or within such longer period as the Bank and/or the Agent shall agree to.
|
5.1
|
In consideration of the agreement of the Bank contained in Clause 3 hereof each of the Borrower, the Additional Corporate Guarantors jointly and severally agree with the Bank that (subject to the satisfaction of the conditions contained in Clause 4) the provisions of the Loan Agreement will be and are hereby agreed to be varied and/or amended and/or supplemented as follows:
|
(a)
|
the definitions set out in Clause 1.2 of this Second Supplemental Agreement shall be included mutatis mutandis, in Clause 1. of the Original Loan Agreement replacing the relevant definitions of Clause 1. of the Original Loan Agreement and Clause 1. of the First Supplemental Agreement where the context permits and for the avoidance of any doubt:
|
(i)
|
the definitions "Bank" "Corporate Guarantee, "Guarantor", "Manager's Undertaking", "Operating Accounts", "Operating Account Pledges" shall be deleted from Clause 1 of the Original Loan Agreement and be replaced by the relevant definitions set out in Clause 1.2 of this Second Supplemental Agreement;
|
(ii)
|
the definitions of "Additional Corporate Guarantee", "Additional Corporate Guarantor", "Additional Security Documents", "Collateral Assignment", "Collateral Mortgage", "Collateral Security Documents", "Collateral Vessel", "General Assignments", "Loan Agreement", "New Manager's Undertaking", "Mortgages" and "Vessels" shall be deleted from Clause 1 of the First Supplemental Agreement and be replaced by the relevant definitions set out in Clause 1.2 of this Second Supplemental Agreement;
|
(c)
|
by deleting the definition of "Confirmation", "Credit Support Document", "Credit Support Provider", "Designated Transactions" "Master Agreement Security Deed", "Master Swap Agreement", "Swap Exposure". "Transaction" and Clause 9, Clause 13.3.9, Clause 14.4.3, Clause 16.2.2 and Schedule V in their entirety and all references thereto in the Loan Agreement and in the Security Documents and construing the Master Swap Agreement as having been terminated/released;
|
(d)
|
by deleting the words "any Swap Exposure" from the definition of "Indebtedness" and the words "and the Swap Exposure" from the definition of "Minimum Value" and from Clause 4.3. (f) (iv), Clause 13.5.2 (i) and from Schedule II C. 4.;
|
(e)
|
by replacing the words "of the aggregate amount of the Loan and the Swap Exposure" by the words "of the amount of the Loan" in sub-clauses 4.3 (f) (i) and 4.3.(f) (v);
|
(f)
|
by deleting the following words "to enter into Designated Transactions under the Master Swap Agreement and to make all the payments contemplated by, and to comply with, those Finance Documents to which the Borrower is a party and the Master Swap Agreement" from Clause 4.1. (b) of the Loan Agreement;
|
(i)
|
by adding in the definitions of "Operating Account" "Pledges" and "Retention Account", in Clause 16. or, wherever the context requires, after the words "with the Bank" or "the Bank", the words "or the Agent";
|
(j)
|
construing all references in the Original Loan Agreement to "the Guarantor", or "such Guarantor" as references to the Corporate Guarantor and the Additional Corporate Guarantors and by construing all references in the Loan Agreement to the "Security Parties", "each Security Party", "a Security Party" so as to include the Additional Corporate Guarantors;
|
(k)
|
by reading and construing hereafter the definition of "Security Documents" in Clause 1. of the Loan Agreement so as to include each of the Additional Security Documents and exclude the Released Documents and by construing all references to each of the Security Documents as being references to each such document as it is from time to time supplemented and/or amended;
|
(l)
|
by interpreting all references in the Security Documents to the Security Documents as if they included the Additional Security Documents and excluded the Released Documents;
|
(n)
|
by interpreting all references in the Security Documents to the Loan Agreement (however described) as references to the Loan Agreement as amended and supplemented by this Second Supplemental Agreement;
|
(o)
|
by replacing the words "or the Additional Corporate Guarantor" by the words "or the relevant Additional Corporate Guarantor" and by replacing in clauses 4.1 (g) and 25 (a) the words "Additional Corporate Guarantee" by the words "an Additional Corporate Guarantee;
|
(p)
|
by construing all references in the Original Loan Agreement to "the Vessel" or "Vessel" as if they included the Collateral Vessels as well;
|
(q)
|
by replacing references to "Additional Corporate Guarantee", "Additional Corporate Guarantor", "Additional Security Documents", "Collateral Assignment", "Collateral Mortgage", "Collateral Security Documents", "Collateral Vessel", "Corporate Guarantee", "General Assignments", "Loan Agreement", "Mortgages", "Manager's Undertaking", "New Manager's Undertaking", "Operating Accounts", "Operating Account Pledges", and "Vessels" by references to "Additional Corporate Guarantees", "Additional Corporate Guarantor", "Additional Security Documents", "Collateral General Assignments", "Collateral Mortgages", "Collateral Security
|
(r)
|
by replacing sub-clauses (j) to (m) in Clause 12.1 by the followings new sub-clauses reading as follows:
|
(s)
|
by replacing in Clause 16 of the Original Loan Agreement (a) references to "the Borrower", by references to "the Borrower and the Additional Corporate Guarantors" and (b) references to the Operating Account by references to the Operating Accounts as herein defined;
|
(t)
|
by construing all references in the Loan Agreement to "EFG Eurobank Ergasias S.A." or to the Bank as references to the Bank, or, where the context requires, as the case may be to the Bank and/or the Agent or to the Agent as both terms are herein defined;
|
(u)
|
by replacing the words and numbers "8, Othonos Street, Athens, Greece" and "83, Akti Miaouli, 185 38 Piraeus, Greece" by the following words and numbers "5, rue, Jean Monnet, L-2180 Luxembourg" (exception being made in connection with clause 24.1 of the Loan Agreement and all notices to the Bank and/or communications with the Bank of whatsoever nature which will be effected through the Agent);
|
(v)
|
by replacing (i) in the definition of Manager the words "40, Agiou Konstantinou Str., Aethrion Maroussi, Greece" and (ii) clause 24.1. the words "40, Agiou Konstantinou Str. 151 24 Maroussi, Greece" by the words "4, Messogiou & Evropis Street, 151 24 Maroussi, Greece";
|
(w)
|
by replacing in Clause 24.2 the words and numbers "three (3)" by the words and numbers "five (5)".
|
SIGNED by
|
)
|
|||
duly authorised
|
)
|
|||
attorney for and on behalf of
|
)
|
|||
MANOLIS SHIPPING LIMITED
|
)
|
|||
in its capacity as borrower
|
)
|
|||
SIGNED by
|
)
|
|||
duly authorised
|
)
|
|||
attorney for and on behalf of
|
)
|
|||
SAF-CONCORD SHIPPING LTD
|
)
|
|||
in its capacity as additional corporate guarantor
|
)
|
|||
SIGNED by
|
)
|
|||
duly authorised
|
)
|
|||
attorney for and on behalf of
|
)
|
|||
TIGER NAVIGATION CORP.
|
)
|
|||
in its capacity as additional corporate guarantor
|
)
|
|||
SIGNED by
|
)
|
|||
duly authorised
|
)
|
|||
attorney for and on behalf of
|
)
|
|||
ALTERWALL BUSINESS INC.
|
)
|
|||
in its capacity as additional corporate guarantor
|
)
|
SIGNED by
|
)
|
|||
the duly authorised
|
)
|
|||
attorneys for and on behalf of
|
)
|
|||
Eurobank Private Bank Luxembourg SA
|
)
|
|||
(formerly known as Eurobank EFG Private Bank Luxembourg SA)
|
)
|
|||
in its capacity as bank/lender
|
||||
)
|
||||
SIGNED by
|
)
|
|||
and
|
)
|
|||
the duly authorised
|
)
|
|||
attorneys for and on behalf of
|
)
|
|||
Eurobank Ergasias S.A.
|
)
|
|||
(formerly known as EFG Eurobank Ergasias S.A.)
|
)
|
|||
in its capacity as agent for the bank/lender
|
)
|
|||
SIGNED by
|
)
|
|||
and
|
)
|
|||
the duly authorised
|
)
|
|||
attorneys for and on behalf of
|
)
|
|||
Eurobank Ergasias S.A.
|
)
|
|||
(formerly known as EFG Eurobank Ergasias S.A.)
|
)
|
|||
in its capacity as Party A to the Master Swap Agreement
|
)
|
)
|
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/24/24 EuroDry Ltd. 20-F 12/31/23 94:14M Globenewswire Inc./FA 7/14/23 EuroDry Ltd. F-3 5:498K Seward & Kissel LLP 7/14/23 EuroDry Ltd. F-3 7:1.2M Seward & Kissel LLP 4/24/23 EuroDry Ltd. 20-F 12/31/22 81:9.2M Globenewswire Inc./FA 4/15/22 EuroDry Ltd. 20-F 12/31/21 84:12M Globenewswire Inc./FA 4/22/21 EuroDry Ltd. 20-F 12/31/20 82:8M Seward & Kissel LLP 5/14/18 SEC UPLOAD¶ 6/21/18 1:41K EuroDry Ltd. |