Exhibit 10.150

 

	

    	
www.koreaexim.go.kr
    
	
38, Eunhaeng-Ro(16-1, Yeouido-Dong), Yeongdeungpo-Gu, Seoul 150-996,   Korea
   Tel. 822-3779-6114 Fax. 822-3779-6745
    	
 
    


 

Letter of Interest

 

May 4, 2015

 

To : Gener8 Maritime, Inc.

 

Re : New building project of Fifteen (15) 300K VLCC (“Project”)

 

Dear Sirs,

 

In response to your presentation and subsequent request for a Letter of Interest regarding the project, we are pleased to inform you that based on the preliminary information available at this time, we would favorably consider provision of financial support for the Project.

 

Please be informed that our decision is conditional upon the financial, technical, and economic soundness of the Project including environmental aspects of the Project. We will provide financing under the terms and conditions in accordance with OECD Arrangements and our internal policies. Furthermore, any decision will be based upon legal and policy considerations in effect at such time as our loan commitment shall be made.

 

Please be noted that this Letter of Interest does not constitute a legally binding commitment of the Export-Import Bank of Korea and any decision shall be based upon legal and policy considerations in effect at such time the loan commitment is made.

 

We are looking forward to hearing from you on the development of the Project.

 

 

	
Sincerely yours,
    	
 
    
	
 
    	
 
    
	
/s/ Cha Seung-won
    	
 
    
	
Cha Seung-won
    	
 
    
	
Director
    	
 
    
	
Offshore Finance Team 
    	
 
    
	
Marine Finance Department
    	
 
    


 

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Terms and Conditions subject to the Approval of a Credit Committee

 

	
1.
    	
Financing Amount
    	
Up to U$ 353 million in the form of a direct loan and/or a guarantee
    
	
 
    	
 
    	
 
    
	
2.
    	
Equity Contribution
    	
To be discussed
    
	
 
    	
 
    	
 
    
	
3.
    	
Tenor
    	
Up to 12 years from the delivery date of each Vessel
    
	
 
    	
 
    	
 
    
	
4.
    	
Interest Rate
    	
To be discussed
    
	
 
    	
 
    	
 
    
	
5.
    	
Interest Period
    	
Three (3) months
    
	
 
    	
 
    	
 
    
	
6.
    	
Guarantee Premium
    	
To be discussed
    
	
 
    	
 
    	
 
    
	
7.
    	
Commitment Fee
    	
To be charged on undrawn amount
    
	
 
    	
 
    	
 
    
	
8.
    	
Management Fee
    	
To be charged on committed amount
    
	
 
    	
 
    	
 
    
	
9.
    	
Repayment
    	
Quarterly equal installments of principal beginning from three   (3) months after the delivery date of each Vessel
    
	
 
    	
 
    	
 
    
	
10.
    	
Security
    	
Security Package required by KEXIM
    


 

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February 2015

 

To Our Correspondents 

 

Dear Sirs:

 

We are pleased to be providing you with the signatures of officers authorized to sign on behalf of The Export-Import Bank of Korea (Korea Eximbank), with signatory power as specified.

 

This new list of signatures supersedes all previous lists. Signature lists provided previously should be disposed of upon receipt of this updated list.

 

 

	
 
    	
Sincerely,
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Kim Youngkee
    
	
 
    	
Kim Youngkee
    
	
 
    	
Director General
    
	
 
    	
Strategic Business Coordination Department 
    
	
 
    	
The Export-Import Bank of Korea
    


 











 

Authorized Signatures

of the Officers

 

·  Class A

 

·  Class B

 

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Class

 

A

 

	
Byun   Kwang-hyun
    	
011
    	
 
    	
Cha   Burn-suk
    	
012
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	

    	
 
    	

    
	
 
    	
 
    	
 
    
	
Cha   Seung-won
    	
013
    	
 
    	
Cha   Silh
    	
014
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	

    	
 
    	

    
	
 
    	
 
    	
 
    
	
Chae   Sang-jin
    	
015
    	
 
    	
Chae   Seung-chul
    	
016
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	

    	
 
    	

    
	
 
    	
 
    	
 
    
	
Chang   Young-hoon
    	
017
    	
 
    	
Chang   Younsoo
    	
018
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	

    	
 
    	

    
	
 
    	
 
    	
 
    
	
Cheon   Myung-wook
    	
019
    	
 
    	
Cheong   Minju
    	
020
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	

    	
 
    	

    


 

This page is a verified copy of the List of Authorized Signatures as published in February 2015.

 

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