Exhibit 10.1

AMENDMENT NO. 1 TO THE

CREDIT AGREEMENT

Dated as of March 15, 2010

 

AMENDMENT NO. 1 TO THE CREDIT AGREEMENT (this "Amendment")among Allure of the
Seas Inc., a Liberian corporation (the "Borrower"), Royal Caribbean Cruises
Ltd., a Liberian corporation (the "Guarantor" and, together with the Borrower,
the "Loan Parties"), the various financial institutions as are parties to the
Credit Agreement referred to below (collectively, the "Lenders"), and
Skandinaviska Enskilda Banken AB (publ), as administrative agent (in such
capacity, the "Administrative Agent") for the Lenders.

PRELIMINARY STATEMENTS:

(1)       The Loan Parties, the Lenders and the Administrative Agent have
entered into a Credit Agreement, dated as of March 15, 2010 (the "Credit
Agreement"). Capitalized terms not otherwise defined in this Amendment have the
same meanings as specified in the Credit Agreement.

(3)      The Loan Parties have requested and the Required Lenders have agreed
that the Credit Agreement be amended, upon the terms and subject to the
conditions set forth herein, and Finnvera has consented to such amendment.

NOW THEREFORE, in consideration of the premises and the mutual agreements
contained herein, and for other valuable consideration the receipt of which is
hereby acknowledged, the parties hereto hereby agree as follows:

SECTION 1. Amendment. Effective as of the date hereof, Schedule I of the Credit
Agreement is hereby amended and restated in full to read as set forth in Exhibit
A hereto.

SECTION 2. Conditions to Effectiveness. This Amendment shall become effective as
of the date first above written when, and only when, (i) Finnvera has consented
to this Amendment and delivered a duly authorized and executed signature page to
the Administrative Agent or its counsel evidencing such consent and (ii) the
Loan Parties and the Required Lenders have delivered a duly authorized and
executed signature page to this Amendment to the Administrative Agent or its
counsel.

SECTION 3. Reference to and Effect on the Loan Documents. (a) On and after the
Restatement Effective Date, each reference in the Credit Agreement to "this
Agreement", "hereunder", "hereof" or words of like import referring to the
Credit Agreement, and each reference in the Notes, the Pledge Agreement and the
Finnvera Guarantee to "the Credit Agreement", "thereunder", "thereof" or words
of like import referring to the Credit Agreement, shall mean and be a reference
to the Credit Agreement as amended hereby.

(b)       The Credit Agreement and the Finnvera Guarantee, as specifically
amended by this Amendment, are and shall continue to be in full force and effect
and are hereby in all respects ratified and confirmed.

 

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(c)       The execution, delivery and effectiveness of this Amendment shall not,
except as expressly provided herein, operate as a waiver of any right, power or
remedy of any Lender, Finnvera or the Administrative Agent under the Credit
Agreement or the Finnvera Guarantee or constitute a waiver of any provision of
the Credit Agreement or the Finnvera Guarantee.

SECTION 4. Costs and Expenses. The Guarantor agrees to pay on demand all
reasonable costs and expenses of the Administrative Agent, the Lenders and
Finnvera in connection with the preparation, execution, delivery and
administration, modification and amendment of this Amendment (including, without
limitation, the reasonable fees and expenses of counsel for the Administrative
Agent) in accordance with the terms of Section 12.3 of the Credit Agreement.

SECTION 5. Execution in Counterparts. This Amendment may be executed in any
number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute but one and the same agreement. Delivery
of an executed counterpart of a signature page to this Amendment by telecopier
shall be effective as delivery of a manually executed counterpart of this
Amendment.

SECTION 6. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

[The remainder of this page intentionally left blank.]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective officers thereunto duly authorized, as of the date first
above written.

ALLURE OF THE SEAS INC., as Borrower

 

By: /s/ Antje M. Gibson

Title: Vice President and Treasurer

 

ROYAL CARIBBEAN CRUISES LTD., as Guarantor

 

By: /s/ Antje M. Gibson

Title: Vice President of Treasury

 

 

NYDOCS03/905268

RCCL ALLURE CREDIT AGREEMENT AMENDMENT NO. 1

 

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SKANDINAVISKA ENSKILDA BANKEN AB (publ), as Administrative Agent

 

By: /s/ David Lockie

Title: Legal Counsel

 

By: /s/ Egil Aarrestad

Title: Senior Client Executive

 

 

NYDOCS03/905268

RCCL ALLURE CREDIT AGREEMENT AMENDMENT NO. 1

 

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SKANDINAVISKA ENSKILDA BANKEN AB (PUBL), as Lender

 

By: /s/ David Lockie

Title: Legal Counsel

 

By: /s/ Egil Aarrestad

Title: Senior Client Executive

 

 

 

NYDOCS03/905268

RCCL ALLURE CREDIT AGREEMENT AMENDMENT NO. 1

 

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NORDEA BANK FINLAND, NEW YORK BRANCH, as Lender

 

By: /s/ Colleen Durkin

Title: First Vice President

 

By: /s/ Martin Lunder

Title: Senior Vice President

 

 

NYDOCS03/905268

RCCL ALLURE CREDIT AGREEMENT AMENDMENT NO. 1

 

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FORTIS BANK SA/NV, as Lender

 

By: /s/ Tim Lamey

Title: Head of Nordic ECA origination

 

By: /s/ Michel Froidebise

Title: Executive Director Nordic origination

 

 

NYDOCS03/905268

RCCL ALLURE CREDIT AGREEMENT AMENDMENT NO. 1

 

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CITIBANK EUROPE PLC, as Lender

 

By: /s/ Chris Perrins

Title: Vice President

 

 

NYDOCS03/905268

RCCL ALLURE CREDIT AGREEMENT AMENDMENT NO. 1

 

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Referring to Clause 4.10 of the General Conditions for Buyer Credit Guarantees,
dated 1 March 2004 (the "General Conditions "), applicable to the Finnvera
Guarantee, Finnvera hereby, without prejudice to Clause 4.2 of the General
Conditions, gives its consent to this Amendment to the Credit Agreement.

 

FINNVERA PLC

 

By: /s/ Tuukka Andersen

Title: Vice President

 

By: /s/ Tiina Tuominen

Title: Senior Legal Counsel

 

 

NYDOCS03/905268

RCCL ALLURE CREDIT AGREEMENT AMENDMENT NO. 1

 

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Exhibit A

to Amendment No. 1 to the Credit Agreement

 

SCHEDULE I

DISCLOSURE SCHEDULE

     Item 6.9 (b): Vessels

 

Vessel

Owner

Flag

Sovereign

Pullmantur Cruises Sovereign Limited

Malta

Empress

Pullmantur Cruises Empress Limited

Malta

Monarch of the Seas

Monarch of the Seas Inc.

Bahamas

Majesty of the Seas

Majesty of the Seas Inc.

Bahamas

Grandeur of the Seas

Grandeur of the Seas Inc.

Bahamas

Rhapsody of the Seas

Rhapsody of the Seas Inc.

Bahamas

Enchantment of the Seas

Enchantment of the Seas Inc.

Bahamas

Vision of the Seas

Vision of the Seas Inc.

Bahamas

Voyager of the Seas

Voyager of the Seas Inc.

Bahamas

Pacific Dream

Pullmantur Cruises Pacific Dream Limited

Malta

Zenith

Pullmantur Cruises Zenith Ltd.

Malta

Celebrity Century

Blue Sapphire Marine Inc.

Bahamas

Mariner of the Seas

Mariner of the Seas Inc.

Bahamas

Celebrity Mercury

Seabrook Maritime Inc.

Bahamas

Celebrity Millennium

Millennium Inc.

Malta

Explorer of the Seas

Explorer of the Seas Inc.

Bahamas

Celebrity Infinity

Infinity Inc.

Malta

Radiance of the Seas

Radiance of the Seas Inc.

Bahamas

Celebrity Summit

Summit Inc.

Malta

Adventure of the Seas

Adventure of the Seas Inc.

Bahamas

Navigator of the Seas

Navigator of the Seas Inc.

Bahamas

Celebrity Constellation

Constellation Inc.

Malta

Serenade of the Seas

Serenade of the Seas Inc.

Bahamas

Jewel of the Seas

Jewel of the Seas Inc.

Bahamas

Celebrity Xpedition

Islas Galapagos Turismo y Vapores CA

Ecuador

Legend of the Seas

Legend of the Seas Inc.

Bahamas

Splendour of the Seas

Splendour of the Seas Inc.

Bahamas

 

NYDOCS03/905268

RCCL ALLURE CREDIT AGREEMENT AMENDMENT NO. 1

 

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Vessel

Owner

Flag

Freedom of the Seas

Freedom of the Seas Inc.

Bahamas

Azamara Journey

Azamara Journey Inc.

Malta

Azamara Quest

Azamara Quest Inc.

Malta

Sky Wonder

Pullmantur Cruises Sky Wonder, Ltd.

Malta

Bleu de France

CDF Bleu de France Limited

Malta

Liberty of the Seas

Liberty of the Seas Inc.

Bahamas

Ocean Dream

Pullmantur Cruises Atlantic Ltd.

Malta

Independence of the Seas

Independence of the Seas Inc.

Bahamas

Celebrity Solstice

Celebrity Solstice Inc.

Malta

Celebrity Equinox

Celebrity Equinox Inc.

Malta

Oasis of the Seas

Oasis of the Seas Inc.

Bahamas

 

 

   Item 6.10: Subsidiaries

 

Name of the Subsidiary

Jurisdiction of Organization

Jewel of the Seas Inc.*

Liberia

Sovereign of the Seas Shipping Inc.

Liberia

Nordic Empress Shipping Inc.

Liberia

Majesty of the Seas Inc.*

Liberia

Monarch of the Seas Inc.*

Liberia

Admiral Management Inc.

Liberia

GG Operations Inc.

Delaware

Island for Science Inc.

Indiana

Labadee Investments Ltd.

Cayman Islands

Societe Labadee Nord, S.A.

Haiti

Royal Caribbean Cruise Line A/S

Norway

Royal Caribbean Merchandise Inc.

Florida

Eastern Steamship Lines Inc.

Liberia

Grandeur of the Seas Inc.*

Liberia

Enchantment of the Seas Inc.*

Liberia

Rhapsody of the Seas Inc.*

Liberia

Vision of the Seas Inc.*

Liberia

 

NYDOCS03/905268

RCCL ALLURE CREDIT AGREEMENT AMENDMENT NO. 1

 

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Name of the Subsidiary

Jurisdiction of Organization

Voyager of the Seas Inc.*

Liberia

Explorer of the Seas Inc.*

Liberia

Royal Celebrity Tours Inc.

Delaware

White Sand Inc.

Liberia

Radiance of the Seas Inc.*

Liberia

Adventure of the Seas Inc.*

Liberia

RCL (UK) Ltd.

U.K.

Navigator of the Seas Inc.*

Liberia

Northwest Adventures Inc.

Delaware

Serenade of the Seas Inc.*

Liberia

Royal Beverage Cruise Sales LLC

Delaware

Mariner of the Seas Inc.*

Liberia

Beverage Cruise Sales LLC

Texas

Celebrity Cruise Lines Inc.

Cayman Islands

Celebrity Cruises Holdings Inc.

Liberia

Seabrook Maritime Inc.*

Liberia

Esker Marine Shipping Inc.

Liberia

Blue Sapphire Marine Inc.*

Liberia

Fantasia Cruising Inc.

Liberia

Celebrity Cruises Inc.

Liberia

Zenith Shipping Corporation

Liberia

Millennium Inc.*

Liberia

Infinity Inc.*

Liberia

Summit Inc.*

Liberia

Constellation Inc.*

Liberia

Galapagos Cruises Inc.

Liberia

Islas Galapagos Turismo y Vapores C.A.*

Ecuador

Cape Liberty Cruise Port LLC

Delaware

Legend of the Seas Inc.*

Liberia

Splendour of the Seas Inc.*

Liberia

RCL Investments Ltd.

U.K.

Tenth Avenue Holdings, S.A. de C.V.

Mexico

The Scholar Ship Program LLC

Delaware

 

NYDOCS03/905268

RCCL ALLURE CREDIT AGREEMENT AMENDMENT NO. 1

 

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Name of the Subsidiary

Jurisdiction of Organization

Royal Caribbean Cruises Espana S.L.

Spain

Puerto de Cruceros y Marina de las Islas de la Bahia, S.A. de CV.

Honduras

Freedom of the Seas Inc.*

Liberia

RCL Holdings Cooperatief U.A.

The Netherlands

Pullmantur S.A.

Spain

Pullmantur Cruises, S.L.

Spain

Pullmantur Cruises Oceanic Ltd.

Malta

Pullmantur Cruises Blue Dream Ltd.

Malta

Pullmantur Cruises Blue Moon, Ltd.

Malta

Pullmantur Cruises Sky Wonder, Ltd.*

Malta

CDF Bleu de France Limited*

Malta

Pullmantur Cruises Ship Management Ltd.

Malta

Pullmantur Ship Management Ltd.

Bahamas

Pullmantur -Turismo E Viagens Unipessoal, LDA.

Portugal

Royal Caribbean Holdings de Espana S.L.

Spain

Royal Caribbean Cruises (Asia) Pte. Ltd

Singapore

Azamara Journey Inc.*

Liberia

Azamara Quest Inc.*

Liberia

Pullmantur Cruises Zenith Limited*

Malta

Pullmantur Cruises Empress Limited*

Malta

Pullmantur Cruises Atlantic Limited*

Malta

Liberty of the Seas Inc.*

Liberia

CDF Croisieres de France S.A.S.

France

RCL Holdings St. Lucia Limited

St. Lucia

St. Kitts Development Company Limited

St. Lucia

Independence of the Seas Inc.*

Liberia

St. Maarten Quarter Development Company N.V.

St. Maarten

Celebrity Solstice Inc.*

Liberia

Oasis of the Seas Inc.*

Liberia

Royal Caribbean Cruzeiros (Brasil) Ltda.

Brazil

Celebrity Eclipse Inc.

Liberia

Celebrity Equinox Inc.*

Liberia

Celebrity Solstice IV Inc.

Liberia

 

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RCCL ALLURE CREDIT AGREEMENT AMENDMENT NO. 1

 

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Name of the Subsidiary

Jurisdiction of Organization

 

Celebrity Solstice V Inc.

Liberia

 

 

Cruises Turismo Mexico, S.A. de C.V.

Mexico

 

 

Pullmantur Cruises Pacific Dream Limited*

Malta

 

 

Pullmantur Cruises Sovereign Limited*

Malta

 

 

Royal Caribbean Cruises (Australia) Pty. Ltd.

Australia

 

 

Sunshine Cruise Holidays Ltd.

U.K.

 

 

Falmouth Development Company Limited

St. Lucia

 

 

Falmouth Land Company Limited

St. Lucia

 

 

Falmouth Port Company Limited

St. Lucia

 

 

Falmouth Jamaica Development Company Limited

Jamaica

 

 

Falmouth Jamaica Land Company Limited

Jamaica

 

 

Falmouth Jamaica Port Company Limited

Jamaica

 

 

Allure of the Seas Inc.

Liberia

 

 

Cruise 1st Australia Pty Ltd.

Australia

 

 

* Shipholding companies

 

 

 

 

 

NYDOCS03/905268

RCCL ALLURE CREDIT AGREEMENT AMENDMENT NO. 1

 

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