Exhibit 10.8

 

CONFIDENTIAL

 

August 25, 2016

Nordea Bank Finland plc, New York Branch, as Co-ordinator
1211 Avenue of the Americas, 23rd Floor
New York, New York 10036

 

 

The Mandated Lead Arrangers party to the Commitment Letter (as defined below)

 

Re:      Second Extension of Waiver Termination Event

 

Ladies and Gentleman:

 

Reference is made to (x) that certain Commitment Letter, dated as of June 30,
2016, (as the same may be amended, restated, supplemented and/or otherwise
modified from time to time, the “Commitment Letter”) among Genco Shipping &
Trading Limited (the “Borrower”), Nordea Bank Finland plc, New York Branch
(“Nordea”), Skandinaviska Enskilda Banken AB (publ) (“SEB”), DVB Bank SE
(“DVB”), ABN AMRO Capital USA LLC (“ABN”), Crédit Agricole Corporate and
Investment Bank (“CA-CIB”), Deutsche Bank AG Filiale Deutschlandgeschäft
(“DB”), Crédit Industriel et Commercial (“CIC”) and BNP Paribas (“BNPP” and
together with Nordea, SEB, DVB, ABN, CA-CIB, DB and CIC, the “Mandated Lead
Arrangers”) and (y) that certain Extension of Waiver Termination Event, dated
August 10, 2016 (the “First Extension of Waiver Termination Event”), among the
Borrower and the Mandated Lead Arrangers.  Capitalized terms used but not
otherwise defined herein shall have the respective meanings ascribed to such
terms in the Commitment Letter.

 

We hereby request that the Mandated Lead Arrangers and Lenders agree to extend
the date of the Waiver Termination Event set forth in Section 8(v) of the
Commitment Letter, as extended by the First Extension of Waiver Termination
Event, from August 31, 2016 to September 14, 2016.

 

Please indicate your consent by countersigning this letter agreement no later
than 5:00 p.m., New York City time on August 29, 2016.

 

Notwithstanding anything contained herein, all other terms and conditions set
forth in the Commitment Letter, the Term Sheet and any Fee Letter shall remain
in full force and effect and all rights and obligations of the parties thereto
remain in full force and effect.

 

[Remainder of page intentionally left blank; signature page follows]

 

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Very truly yours,

 

 

 

 

 

GENCO SHIPPING & TRADING LIMITED

 

 

 

 

 

By:

/s/ Apostolos Zafolias

 

Name:

Apostolos Zafolias

 

Title:

Chief Financial Officer

 

 

[Signature Page to Second Extension of Waiver Termination Event]

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Agreed to and Accepted this

29th day of August 2016:

 

NORDEA BANK FINLAND PLC, NEW YORK BRANCH

 

 

 

 

 

 

 

By:

/s/ Erik Havnvik

 

Name:

Erik Havnvik

 

Title:

First Vice President

 

 

 

 

By:

/s/ G. Stael von Holstein

 

Name:

Gustaf Stael von Holstein

 

Title:

Head of Risk Management

 

 

[Signature Page to Second Extension of Waiver Termination Event]

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SKANDINAVISKA ENSKILDA BANKEN AB (PUBL)

 

 

 

 

 

By:

/s/ Ame Juell-Skielse

 

Name:

Ame Juell-Skielse

 

Title:

 

 

 

 

 

By:

/s/ Magnus Arve

 

Name:

Magnus Arve

 

Title:

 

 

 

[Signature Page to Second Extension of Waiver Termination Event]

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DVB BANK SE

 

 

 

 

 

By:

/s/ Christian Cruden

 

 

Name: Christian Cruden

 

 

Title:  Vice President

 

 

 

 

By:

/s/ Andrea Strullato

 

 

Name:  Andrea Strullato

 

 

Title:  Vice President

 

 

[Signature Page to Second Extension of Waiver Termination Event]

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ABN AMRO CAPITAL USA LLC

 

 

 

 

 

By:

/s/ Rajbir Talwar

 

 

Name:  Rajbir Talwar

 

 

Title:  Director

 

 

 

 

By:

/s/ Urvashi Zutshi

 

 

Name:  Urvashi Zutshi

 

 

Title:  Managing Director

 

 

[Signature Page to Second Extension of Waiver Termination Event]

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CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK

 

 

 

 

 

By:

/s/ Jerome Duval

 

 

Name:  Jerome Duval

 

 

Title:  Managing Director

 

 

 

 

By:

/s/ Eden Rahman

 

 

Name:  Eden Rahman

 

 

Title:  Vice President

 

 

[Signature Page to Second Extension of Waiver Termination Event]

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DEUTSCHE BANK AG FILIALE DEUTSCHLANDGESCHÄFT

 

 

 

 

 

By:

/s/ Kerstin Seefeld

 

 

Name:  Kerstin Seefeld

 

 

Title:  Director

 

 

 

 

By:

/s/ Bastian Duhmert

 

 

Name:  Bastian Duhmert

 

 

Title:  Director

 

 

[Signature Page to Second Extension of Waiver Termination Event]

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CRÉDIT INDUSTRIEL ET COMMERCIAL

 

 

 

 

 

By:

/s/ Andrew McKuin

 

 

Name:  Andrew McKuin

 

 

Title:  Managing Director

 

 

 

 

By:

/s/ Adrienne Molloy

 

 

Name:  Adrienne Molloy

 

 

Title:  Managing Director

 

 

[Signature Page to Second Extension of Waiver Termination Event]

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BNP PARIBAS

 

 

 

 

 

By:

/s/ Eric Dulcire

 

 

Name:  Eric Dulcire

 

 

Title:  Director Shipping

 

 

 

 

By:

/s/ Pierre Frackon

 

 

Name:  Pierre Frackon

 

 

Title:  Director Shipping

 

 

[Signature Page to Second Extension of Waiver Termination Event]

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