EX-4.26



 Exhibit 4.26 

Dated 2 January 2017 

CAPITAL PRODUCT PARTNERS L.P. 

as Guarantor 
 and 

CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK 

as Security Trustee 
 GUARANTEE

 relating to a Loan Agreement 

dated 2 January 2017 







 Index 
  

							
	Clause	 	 	  	Page	 
			
	 1
	 	 Interpretation
	  	 	1	 
	 2
	 	 Guarantee
	  	 	3	 
	 3
	 	 Liability as Principal and Independent Debtor
	  	 	4	 
	 4
	 	 Expenses
	  	 	4	 
	 5
	 	 Adjustment of Transactions
	  	 	4	 
	 6
	 	 Payments
	  	 	5	 
	 7
	 	 Interest
	  	 	5	 
	 8
	 	 Subordination
	  	 	5	 
	 9
	 	 Enforcement
	  	 	6	 
	 10
	 	 Representations and Warranties
	  	 	6	 
	 11
	 	 Undertakings
	  	 	9	 
	 12
	 	 Corporate Undertakings
	  	 	13	 
	 13
	 	 Judgments and Currency Indemnity
	  	 	15	 
	 14
	 	 Set off
	  	 	16	 
	 15
	 	 Supplemental
	  	 	16	 
	 16
	 	 Assignment
	  	 	17	 
	 17
	 	 Notices
	  	 	17	 
	 18
	 	 Invalidity of Loan Agreement
	  	 	18	 
	 19
	 	 Governing Law and Jurisdiction
	  	 	19	 
	 Schedule 1 Form of Compliance Certificate
	  	 	20	 
	 Execution Page
	  	 	22	 








 THIS GUARANTEE is made on 2 January 2017 

PARTIES 
  

	(1)	CAPITAL PRODUCT PARTNERS L.P., being a limited partnership formed under the laws of the Marshall Islands whose registered address is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro,
Marshall Islands MH96960 (the “Guarantor”); and 

  

	(2)	CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK, acting through its office at 12, place des Etats-Unis, CS 70052, 92547 Montrouge Cedex, France (the “Security Trustee”, which
expression includes its successors and assigns). 

 BACKGROUND 

 

	(A)	By a loan agreement dated 2 January 2017 and made between (i) Asterias Crude Carrier S.A. and Scorpio Crude Carrier S.A. as joint and several borrowers (together, the “Borrowers” and each a
“Borrower”), (ii) the banks and financial institutions listed therein as lenders (together, the “Lenders”), (iii) Crédit Agricole Corporate and Investment Bank (“CACIB”) as facility agent (in
such capacity, the “Facility Agent”) and account bank, (iv) ING Bank N.V. as swap bank (in such capacity, the “Swap Bank”), (v) the Security Trustee as security trustee and (vi) CACIB and ING Bank N.V. as
mandated lead arrangers and bookrunners, it was agreed that the Lenders would make available to the Borrowers a secured post-delivery term loan facility of up to US$70,200,000 (the “Loan”). 


 

	(B)	By certain master agreements (each on the 2002 ISDA (Multcurrency Crossborder) form including the schedule thereto as amended) (the “ Master Agreements”), each dated as of 2 January 2017 and made
between (i) each Borrower and (ii) the Swap Bank, it was agreed that the Swap Bank may enter into Designated Transactions with that Borrower from time to time to hedge such Borrower’s exposure under the Loan Agreement to interest rate
fluctuations. 

  

	(C)	By the Agency and Trust Agreement entered into pursuant to the Loan Agreement, it was agreed that the Security Trustee would hold the Trust Property on trust for the Creditor Parties. 


 

	(D)	It is a condition precedent to the Lenders advancing the Loan (or any part thereof) to the Borrowers that the Guarantor shall execute and deliver or, as the case may be, register in favour of the Security Trustee this
Guarantee. 

 IT IS AGREED as follows: 
  

	1	INTERPRETATION 

  

	1.1	Defined expressions 

 Words and expressions defined in the Loan Agreement shall have the
same meanings when used in this Guarantee unless the context otherwise requires. 
  

	1.2	Construction of certain terms 

 In this Guarantee: 

“Accounting Information” means the annual audited consolidated accounts and the unaudited semi-annual management accounts in
respect of each Relevant Borrower and the Guarantor referred to, respectively, in Clauses 11.4(a) and 11.4(b); 

“bankruptcy” includes a liquidation, receivership or administration and any form of suspension of payments, arrangement with
creditors or reorganisation under any corporate or insolvency law of any country; 







 “Compliance Certificate” means a certificate in the form set out in Schedule 1
(or in any other form which the Facility Agent approves or requires in its sole discretion); 
 “Compliance Date” means each
of 30 June and 31 December in each Financial Year of the Guarantor; 
 “EBITDA” means, in respect of the relevant
period, the aggregate amount of consolidated earnings of the Group (excluding any extraordinary items (namely any items which are not relevant to the Guarantor’s normal course of daily business)) before net interest, tax, depreciation or any
amortisation charges; 
 “Fleet Vessels” means all of the vessels (including, but not limited to, each Ship owned by a
Relevant Borrower) from time to time wholly owned by members of the Group (each a “Fleet Vessel”); 
 “Fleet Vessel
Market Value” means, in relation to a Fleet Vessel, the market value of that Fleet Vessel determined pursuant to Clause 12.7; 

“Group” means the Guarantor and its wholly-owned subsidiaries (whether direct or indirect, and including, but not limited to,
each Relevant Borrower) from time to time during the Security Period and “member of the Group” shall be construed accordingly; 

“Guaranteed Advance” means any Advance financing a Ship owned or to be owned by a Relevant Borrower; 

“Guarantor’s Documents” means, together, this Guarantee, any Pledges and any other Finance Document to which the
Guarantor is or, as the context may require, will be a party and, in the singular, means any of them; 
 “Intermediate
Shareholder” means Capital Product Operating LLC, a limited liability company formed in the Republic of the Marshall Islands whose registered office is at Trust Company Complex Ajeltake Road, Ajeltake Island, Majuro MH 96960, the Marshall
Islands; 
 “Leverage Ratio” means, any relevant time, the ratio (expressed as a percentage) of: 

 

	 	(a)	the Financial Indebtedness of the Group less the aggregate Liquid Assets of the Group; to 

  

	 	(b)	the aggregate Fleet Vessel Market Value; 

 “Liquid Assets” means, at any
relevant time hereunder: 
  

	 	(a)	cash in hand or held with banks or other financial institutions of the Guarantor and/or any other member of the Group in Dollars or another currency freely convertible into Dollars, which is free of any Security
Interest (other than a Permitted Security Interest and other than ordinary bankers’ liens which have not been enforced or become capable of being enforced); 

  


	 	(b)	any other short-term financial investment which is free of any Security Interest (other than a Permitted Security Interest); 

  

	 	(c)	any cash equivalent of the Guarantor and/or any other member of the Group; and 

  

	 	(d)	any marketable securities of the Guarantor and/or any other member of the Group, 

 as stated in
the latest Accounting Information; 

  
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 “Loan Agreement” means the loan agreement dated 2 January 2017 referred to
in Recital (A) and includes any existing or future amendments or supplements, whether made with the Guarantor’s consent or otherwise; 

“Master Agreement” means each of the Master Agreements (and the schedules thereto) referred to in Recital (B) (including all
Designated Transactions from time to time entered into and Confirmations from time to time exchanged thereunder) and includes, in each case, any existing or future amendments or supplements, whether made with the Guarantor’s consent or
otherwise and, in the plural, means all of them; 
 “Net Interest Expense” means, as at any date of calculation, the
aggregate of all interest payable by any member of the Group on any Financial Indebtedness and any net amounts payable under interest rate hedge agreements for the 12-month period commencing on the date of
calculation less interest income received, determined on a consolidated basis in accordance with generally accepted accounting principles and as shown in the consolidated statements of income of the Group in the Accounting Information; 

“Pledges” means any pledge of the share capital of any Relevant Borrower held by the Guarantor and, in the plural, means both
of them; 
 “Relevant Borrower” means at any relevant time, each Borrower which is a member of the Group at such time, and
in the plural means all of them; 
 “Total Assets” means the total assets of the Group as stated in the most recent
Accounting Information; and 
 “US GAAP” means generally accepted accounting principles as from time to time in effect in
the United States of America. 
  

	1.3	Application of construction and interpretation provisions of Loan Agreement 

 Clauses 1.2
and 1.5 inclusive of the Loan Agreement apply, with any necessary modifications, to this Guarantee. 
  

	2	GUARANTEE 

  

	2.1	Guarantee and indemnity 

 The Guarantor unconditionally and irrevocably: 

 

	(a)	guarantees the due payment of the Guaranteed Advances (or any of them) and of all amounts payable by any Relevant Borrower under or in connection with the Loan Agreement, the Master Agreements and every other Finance
Document in connection with, or attributable to, any Guaranteed Advance in respect of the period during which that Relevant Borrower is a member of the Group; 

  

	(b)	undertakes to pay to the Security Trustee, on the Security Trustee’s demand, any such amount which is not paid by a Relevant Borrower when payable in respect of the period during which that Relevant Borrower is a
member of the Group; and 

  

	(c)	agrees to fully indemnify the Security Trustee and each other Creditor Party on the Security Trustee’s demand in respect of all claims, reasonable expenses, liabilities and losses which are made or brought against
or incurred by the Security Trustee or any other Creditor Party concerned as a result of or in connection with any obligation or liability guaranteed by the Guarantor being or becoming unenforceable, invalid, void or illegal; and the amount
recoverable under this indemnity shall be equal to the amount which the Security Trustee or the other Creditor Party concerned would otherwise have been entitled to recover Provided however that, for the avoidance of doubt, the Guarantor
shall only be liable under this Guarantee from the date on which any Borrower becomes a member of the Group following a Dropdown. 


  
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	2.2	No limit on number of demands 

 The Security Trustee may serve more than one demand under
Clause 2.1. 
  

	3	LIABILITY AS PRINCIPAL AND INDEPENDENT DEBTOR 

  

	3.1	Principal and independent debtor 

 The Guarantor shall be liable under this Guarantee as
a principal and independent debtor and accordingly it shall not have, as regards this Guarantee, any of the rights or defences of a surety. 
  

	3.2	Waiver of rights and defences 

 Without limiting the generality of Clause 3.1, the
Guarantor shall neither be discharged by, nor have any claim against any Creditor Party in respect of: 
  

	(a)	any amendment or supplement being made to the Finance Documents (or any of them); 

  

	(b)	any arrangement or concession (including a rescheduling or acceptance of partial payments) relating to, or affecting, the Finance Documents (or any of them); 


 

	(c)	any release or loss (even though negligent) of any right or Security Interest created by the Finance Documents (or any of them); 

  

	(d)	any failure (even though negligent) promptly or properly to exercise or enforce any such right or Security Interest, including a failure to realise for its full market value an asset covered by such a Security Interest;
or 

  

	(e)	any other Finance Document or any Security Interest now being or later becoming void, unenforceable, illegal or invalid or otherwise defective for any reason, including a neglect to register it. 


 

	4	EXPENSES 

  

	4.1	Costs of preservation of rights, enforcement etc 

 The Guarantor shall pay to the
Security Trustee on its demand the amount of all reasonable expenses incurred by the Security Trustee or any other Creditor Party in connection with any matter arising out of this Guarantee or any Security Interest connected with it, including any
advice, claim or proceedings relating to this Guarantee or such a Security Interest. 
  

	5	ADJUSTMENT OF TRANSACTIONS 

  

	5.1	Reinstatement of obligation to pay 

 The Guarantor shall pay to the Security Trustee on
its demand any amount which any Creditor Party is required, or agrees, to pay pursuant to any claim by, or settlement with, a trustee in bankruptcy of any Borrower or of any Security Party (or similar person) on the ground that the Loan Agreement,
the Master Agreements or any other Finance Document, or a payment by any Relevant Borrower or of another Security Party in respect of a Guaranteed Advance, was invalid or on any similar ground. 

  
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	6	PAYMENTS 

  

	6.1	Method of payments 

 Any amount due under this Guarantee shall be paid: 

 

	(a)	in immediately available funds; 

  

	(b)	to such account as the Security Trustee may from time to time notify to the Guarantor; 

  

	(c)	without any form of set off, cross claim or condition; and 

  

	(d)	free and clear of any tax deduction except a tax deduction which the Guarantor is required by law to make. 

  

	6.2	Grossing-up for taxes 

 If the Guarantor is
required by law to make a tax deduction, the amount due to the Security Trustee shall be increased by the amount necessary to ensure that the Security Trustee and (if the payment is not due to the Security Trustee for its own account) the Creditor
Party beneficially interested in the payment receives and retains a net amount which, after the tax deduction, is equal to the full amount that it would otherwise have received. 

 

	7	INTEREST 

  

	7.1	Accrual of interest 

 Any amount due under this Guarantee shall carry interest after the
date on which the Security Trustee demands payment of it until it is actually paid, unless interest on that same amount also accrues under the Loan Agreement or, as the case may be, a Master Agreement. 

 

	7.2	Calculation of interest 

 Interest under this Guarantee shall be calculated and accrue in
the same way as interest under clause 7 of the Loan Agreement. 
  

	7.3	Guarantee extends to interest payable under Loan Agreement and the Master Agreements 


For the avoidance of doubt, it is confirmed that this Guarantee covers all interest payable under the Finance Documents, including that payable
under clause 7 of the Loan Agreement and under the Master Agreements. 
  

	8	SUBORDINATION 

  

	8.1	Subordination of rights of Guarantor 

 All rights which the Guarantor at any time has
(whether in respect of this Guarantee, any other Guarantor’s Document or any other transaction) against any Borrower, any other Security Party or their respective assets, shall be fully subordinated to the rights of the Creditor Parties under
the Finance Documents; and in particular, the Guarantor shall not: 
  

	(a)	claim, or in a bankruptcy of any Borrower or any other Security Party prove for, any amount payable to the Guarantor by that Borrower or any other Security Party, whether in respect of this Guarantee or any other
transaction; 

  

	(b)	take or enforce any Security Interest for any such amount; 


  
 5 









	(c)	claim to set-off any such amount against any amount payable by the Guarantor to any Borrower or any other Security Party; or 


 

	(d)	claim any subrogation or other right in respect of any Finance Document or any sum received or recovered by any Creditor Party under a Finance Document. 


 

	9	ENFORCEMENT 

  

	9.1	No requirement to commence proceedings 

 Neither the Security Trustee nor any other
Creditor Party will need to commence any proceedings under, or enforce any Security Interest created by, the Loan Agreement, any Master Agreement or any other Finance Document before claiming or commencing proceedings under this Guarantee. 

 

	9.2	Conclusive evidence of certain matters 

 However, as against the Guarantor: 

 

	(a)	any judgment or order of a court in England, Greece, France, the Marshall Islands or any other Pertinent Jurisdiction in connection with the Loan Agreement, the Master Agreements or any of the other Finance Documents to
which either Borrower is a party; and 

  

	(b)	any statement or admission of a Borrower in connection with the Loan Agreement, any Master Agreement or any other Finance Documents to which it is a party, 


shall be binding and conclusive as to all matters of fact and law to which it relates. 

 

	9.3	Suspense account 

 The Security Trustee and any Creditor Party may, for the purpose of
claiming or proving in a bankruptcy of a Borrower or any other Security Party, place any sum received or recovered under or by virtue of this Guarantee or any Security Interest connected with it on a separate suspense or other nominal account
without applying it in satisfaction of the Borrowers’ obligations under the Loan Agreement or the Master Agreements. 
  

	10	REPRESENTATIONS AND WARRANTIES 

  

	10.1	General 

 The Guarantor represents and warrants to the Security Trustee as follows. 

 

	10.2	Status 

 The Guarantor is a limited partnership (comprised of a single general partner
and multiple limited partners) formed and validly existing and in good standing under the laws of the Marshall Islands. 
  

	10.3	Share capital and ownership 

 The Guarantor’s capital consists of at least
100,571,224 common units held by public unitholders, including 18,988,262 common units held by Capital Maritime & Trading Corp. and a general partner interest held by Capital GP L.L.C. 

 

	10.4	Corporate power 

 The Guarantor has the limited partnership capacity, and has taken all
partnership action and obtained all consents necessary for it: 

  
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	(a)	to execute this Guarantee and any other Guarantor’s Document; and 

  

	(b)	to make all the payments contemplated by, and to comply with, this Guarantee and any other Guarantor’s Document. 

  

	10.5	Consents in force 

 All the consents referred to in Clause 10.4 remain in force and
nothing has occurred which makes any of them liable to revocation. 
  

	10.6	Legal validity; effective Security Interests 

 The Guarantor’s Documents do now, or,
as the case may be, will upon execution and delivery (and, where applicable, registration as provided for in the Finance Documents): 
  

	(a)	constitute the Guarantor’s legal, valid and binding obligations enforceable against the Guarantor in accordance with their respective terms; and 


 

	(b)	create legal, valid and binding Security Interests enforceable in accordance with their respective terms over all the assets to which they, by their terms, relate, 


subject to any relevant insolvency laws affecting creditors’ rights generally. 

 

	10.7	No third party Security Interests 

 Without limiting the generality of Clause 10.6, at
the time of the execution and delivery of each Guarantor’s Document: 
  

	(a)	the Guarantor will have the right to create all the Security Interests which that Guarantor’s Document purports to create; and 

  


	(b)	no third party will have any Security Interest (except for Permitted Security Interests) or any other interest, right or claim over, in or in relation to any asset to which any such Security Interest, by its terms,
relates. 

  

	10.8	No conflicts 

 The execution by the Guarantor of the Guarantor’s Documents and its
compliance with the Guarantor’s Documents will not involve or lead to a contravention of: 
  

	(a)	any law or regulation; or 

  

	(b)	the constitutional documents of the Guarantor; or 

  

	(c)	any contractual or other obligation or restriction which is binding on the Guarantor or any of its assets. 

  

	10.9	No withholding taxes 

 All payments which the Guarantor is liable to make under a
Guarantor’s Document may be made without deduction or withholding for or on account of any tax payable under any law of any Pertinent Jurisdiction. 
  

	10.10	No default 

 No Event of Default or Potential Event of Default has occurred. 

  
 7 









	10.11	Information 

 All information which has been provided in writing by or on behalf of the
Guarantor to the Security Trustee or any other Creditor Party in connection with any Finance Document satisfied the requirements of Clause 11.2; all audited and unaudited accounts which have been so provided satisfied the requirements of Clause
11.5; and there has been no change in the financial position or state of affairs of the Guarantor and the Group from that disclosed in the latest of those accounts. 
  

	10.12	No litigation 

 No legal or administrative action against the Guarantor or its
subsidiaries has been commenced or taken or, to the Guarantor’s knowledge, is likely to be commenced or taken which would, in either case, be likely to have a material adverse effect. 

 

	10.13	Taxes paid 

 The Guarantor has paid all taxes applicable to, or imposed on or in relation
to the Guarantor or its business. 
  

	10.14	Title and ownership 

 The Guarantor has good title to and is the ultimate beneficial
owner of each of the assets owned or purported to be owned by it. 
  

	10.15	No adverse consequences in jurisdiction of incorporation 

 No Lender will be deemed to be
resident, domiciled, carrying on business or subject to taxation, in the Marshall Islands by reason only of the negotiation, preparation, execution, performance, enforcement of, and/or receipt of any payment due from the Guarantor under any
Guarantor’s Document. 
  

	10.16	Submission to jurisdiction and choice of laws 

 Each submission to jurisdiction, and
choice of law, by the Borrowers contained in any Finance Document is effective. 
  

	10.17	Accounting reference date 

 The accounting reference date for each Relevant Borrower and
the Guarantor is 31 December. 
  

	10.18	Repetition of representations and warranties 

 The representations and warranties set out
in this Clause 10 would be true and not misleading if repeated on the first day of each Interest Period. 
  

	10.19	Ranking of Borrowers’ obligations 

 The obligation of the Borrowers to make payments
under the Finance Documents ranks ahead of any obligation owed by the Borrowers to any other person, except as the same may be required by applicable laws. 
  

	10.20	No Money Laundering 

 It is acting for its own account in relation to the Loan and in
relation to the performance and the discharge of its obligations and liabilities under the Finance Documents and the transactions and other arrangements effected or contemplated by the Finance Documents to which a Security Party is a party, and the
foregoing will not involve or lead to 

  
 8 








 
contravention of any law, official requirement or other regulatory measure or procedure implemented to combat money laundering (as defined in Article 1 of the Directive (2001/97EC of the European
Parliament and of 4 December 2001) including, but not limited to Directive 2005/60 amending Council Directive 91/308). 
  

	10.21	No Immunity 

 The Guarantor is subject to suit and to commercial law and neither it nor
any of its properties have any right of immunity from suit, execution, attachment or other legal process in the Republic of the Marshall Islands. 
  

	10.22	Sanctions 

  

	(a)	Neither the Guarantor, nor any member of the Group nor any of their joint ventures nor any of their respective directors, officers or agent or representatives or any other persons acting on any of their behalf:


  

	(b)	to the best of their knowledge (after due and careful enquiry) has violated or is violating any applicable Sanctions; 

  

	(c)	is a Designated Person; 

  

	(d)	is using or will use, directly or indirectly, the proceeds of the Loan, or lend, contribute or otherwise make available such proceeds to any person, (i) to fund any activities or business of or with any person, or
in any country or territory, that, at the time of such funding, is, or whose government is, the subject of Sanctions or is an UHRC, or (ii) in any other manner that would result in a violation of Sanctions by any person (including any person
participating in the Loan, whether as underwriter, advisor, investor, or otherwise). 

  

	11	UNDERTAKINGS 

  

	11.1	General 

 The Guarantor undertakes with the Security Trustee to comply with the following
provisions of this Clause 11 at all times during the Security Period, except as the Facility Agent may, with the authority of the Majority Lenders, or, where specified all the Lenders, otherwise permit. 

 

	11.2	Information provided to be accurate 

 All financial and other information which is
provided in writing by or on behalf of the Guarantor under or in connection with this Guarantee will be true and not misleading and will not omit any material fact or consideration. 

 

	11.3	Title; negative pledge and pari passu ranking 

 The Guarantor shall: 

 

	(a)	hold the legal title to, and own the entire beneficial interest, and the whole of the issued share capital in the Intermediate Shareholder and shall procure that the Intermediate Shareholder shall hold the legal title
to, and own the entire beneficial interest in, and the whole of the issued share capital in respect of each Relevant Borrower, in each case free from all Security Interests and other interests and rights of every kind, except for those created by
the Finance Documents; 

  

	(b)	not, and shall procure that each Relevant Borrower will not, create or permit to arise any Security Interest over any asset present or future in the normal course of its business of acquiring, financing, chartering in
and out and operating vessels (both in the case of the Guarantor and the Relevant Borrowers) and owning ship-owning companies (in the case of the Guarantor); and 


  
 9 









	(c)	procure that its liabilities under the Finance Documents to which it is a party do and will rank at least pari passu with all its other present and future unsecured liabilities, except for liabilities which are
mandatorily preferred by law. 

  

	11.4	Provision of financial statements 

 The Guarantor will send or procure there are sent to
the Facility Agent: 
  

	(a)	as soon as possible, but in no event later than 120 days after the end of each financial year of each Relevant Borrower or, as the case may be, the Guarantor (commencing with the financial statements for the year which
ended on 31 December 2015): 

  

	 	(i)	the unaudited annual accounts of that Relevant Borrower; and 

  

	 	(ii)	the audited consolidated annual accounts of the Group; 

  

	(b)	as soon as possible, but in no event later than 90 days after the end of each 6 month period in each financial year of that Relevant Borrower or, as the case may be, the Guarantor ending on 30 June and 31 December:


  

	 	(i)	the management accounts of that Relevant Borrower for that 6-month period certified as to their correctness by an officer of that Relevant Borrower or by the chief financial
officer of the Guarantor; and 

  

	 	(ii)	the unaudited consolidated management accounts of the Group for that 6-month period certified as to their correctness by the chief financial officer of the Guarantor;


  

	(c)	annual budgets in respect of operated expenses and accruals of the Ships owned by a Relevant Borrower which, in the case of accruals, are due and payable within 6 months; and 


 

	(d)	promptly after each request by the Facility Agent, such further information (financial or otherwise) about any Relevant Borrower, any Security Party, any Ship owned by a Relevant Borrower (including but not limited to,
charter arrangements, Financial Indebtedness and operating expenses) and the Group as the Facility Agent may require. 

  

	11.5	Form of financial statements 

 All accounts (audited and unaudited) and information
delivered under Clause 11.4 will: 
  

	(a)	be prepared in accordance with all applicable laws, generally accepted accounting principles consistently applied (including, without limitation, IFRS) and US GAAP consistently applied; 


 

	(b)	give a true and fair view of the state of affairs of each Relevant Borrower, the Guarantor and the Group at the date of those accounts and of its profit for the period to which those accounts relate; and


  

	(c)	fully disclose or provide for all significant liabilities of the Relevant Borrowers, the Guarantor and the Group and, additionally, in the case of information given pursuant to Clause 11.4 (c), each Ship owned by a
Relevant Borrower, the Security Parties and the Group. 

  

	11.6	Shareholder and creditor notices 

 The Guarantor will send to the Security Trustee, upon
request, copies of all communications which are despatched to the Guarantor’s shareholders or creditors or any class of them. 

  
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	11.7	Consents 

 The Guarantor will maintain in force and promptly obtain or renew, and will
promptly send certified copies to the Security Trustee of, all consents required: 
  

	(a)	for the Guarantor to perform its obligations under the Guarantor’s Documents; and 

  

	(b)	for the validity or enforceability of the Guarantor’s Documents, 

 and the Guarantor will
comply with the terms of all such consents. 
  

	11.8	Notification of litigation 

 The Guarantor will provide the Security Trustee with details
of any legal or administrative action involving the Guarantor as soon as such action is instituted or it becomes apparent to the Guarantor that it is likely to be instituted, unless it is clear that the legal or administrative action cannot be
considered material in the context of any Guarantor’s Document. 
  

	11.9	Maintenance of Security Interests 

 The Guarantor will: 

 

	(a)	at its own cost, do all that it reasonably can to ensure that any Guarantor’s Document validly creates the obligations and the Security Interests which it purports to create; and 


 

	(b)	without limiting the generality of paragraph (a) above, at its own cost, promptly register, file, record or enrol any Guarantor’s Document with any court or authority in all Pertinent Jurisdictions, pay any
stamp, registration or similar tax in all Pertinent Jurisdictions in respect of any Guarantor’s Document, give any notice or take any other step which may be or become necessary or desirable for any Guarantor’s Document to be valid,
enforceable or admissible in evidence or to ensure or protect the priority of any Security Interest which it creates. 

  

	11.10	Confirmation of no default 

 The Guarantor will, within 2 Business Days after service by
the Facility Agent of a written request, serve on the Facility Agent a notice which is signed by a director of the Guarantor and which: 
  

	(a)	states that no Event of Default or Potential Event of Default has occurred; or 

  

	(b)	states that no Event of Default or Potential Event of Default has occurred, except for a specified event or matter, of which all material details are given. 


The Facility Agent may serve requests under this Clause 11.10 from time to time but only if asked to do so by a Lender or Lenders having
Contributions exceeding 10 per cent. of the Loan or (if the Loan has not been made) Commitments exceeding 10 per cent of the Total Commitments; and this Clause 11.10 does not affect the Guarantor’s obligations under Clause 11.11. 

 

	11.11	Notification of default 

 The Guarantor will notify the Security Trustee as soon as the
Guarantor becomes aware of : 
  

	(a)	the occurrence of an Event of Default or Potential Event of Default (and the steps, if any, being taken to remedy such Potential Event of Default and/or Event of Default); or 


 

	(b)	any matter which indicates that an Event of Default may have occurred, 


  
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 and will thereafter keep the Security Trustee fully up-to-date with all developments. 
  

	11.12	Maintenance of status 

 The Guarantor will maintain its separate existence as a limited
partnership and remain in good standing under the laws of the Marshall Islands. 
  

	11.13	No petition for insolvency 

 The Guarantor will procure that none of its material
creditors petition for the Guarantor’s insolvency nor take any related proceedings. 
  

	11.14	Separateness 

 The Guarantor will: 

 

	(a)	keep its own separate books and records; 

  

	(b)	maintain its own separate accounts; 

  

	(c)	conduct business in its own name; 

  

	(d)	observe all other formalities required by its constitutional documents; 

  

	(e)	prepare its own separate financial statements; 

  

	(f)	pay its liabilities out of its own funds; and 

  

	(g)	hold itself out as a separate legal entity. 

  

	11.15	No VAT group 

 The Guarantor shall not be a member of a VAT (value added tax) group. 

 

	11.16	Ownership 

 The Guarantor shall ensure that no person, other than any financial
institution, private equity firm or other investor maintaining a passive investment interest in the Guarantor, owns a number of common units in the Guarantor which is greater than the number of common units owned at any relevant time by the present
major beneficial owners of the Guarantor, as disclosed to the Lenders on or before the date of this Guarantee. 
  

	11.17	“Know your customer” checks 

 If: 

 

	(a)	the introduction of or any change in (or in the interpretation, administration or application of) any law or regulation made after the date of this Guarantee; 


 

	(b)	any change in the status of the Guarantor or any Security Party after the date of the Loan Agreement (including a situation where a shareholder’s share in a Relevant Borrower or any Security Party rises above 25%
of the total number of shares); or 

  

	(c)	a proposed assignment or transfer by a Lender of any of its rights and obligations under this Guarantee to a party that is not a Lender prior to such assignment or transfer, 


obliges the Facility Agent or any Lender (or, in the case of paragraph (c), any prospective new Lender) to comply with “know your
customer” or similar identification procedures in circumstances where the necessary information is not already available to it, the Guarantor 

  
 12 








 
shall promptly upon the request of the Facility Agent or the Lender concerned supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the Facility
Agent (for itself or on behalf of any Lender) or the Lender concerned (for itself or, in the case of the event described in paragraph (c), on behalf of any prospective new Lender) in order for the Facility Agent, the Lender concerned or, in the case
of the event described in paragraph (c), any prospective new Lender to carry out and be satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations pursuant to the
transactions contemplated in the Finance Documents. 
  

	11.18	Sanctions 

 The Guarantor will, and shall procure that each member of the Group: 

 

	(a)	will comply in all respects with Sanctions; 

  

	(b)	will, not directly or indirectly, use the proceeds of the Loan, or lend, contribute or otherwise make available such proceeds to any person, (i) to fund any activities or business of or with any person, or in any
country or territory, that, at the time of such funding, is, or whose government is, the subject of Sanctions, or (ii) in any other manner that would result in a violation of Sanctions by any person (including any person participating in the
transactions contemplated by the Loan Agreement, this Guarantee and any other Finance Document, whether as underwriter, advisor, investor, or otherwise); 

  

	(c)	shall not fund all or part of any payment under a Finance Document out of proceeds derived from business or transactions with a Designated Person or from any action which would be prohibited by Sanctions or would
otherwise cause any person to be in breach of Sanctions; and 

  

	(d)	shall not, and no Borrower, no Security Party, nor any member of the Group shall, be a Designated Person. 

  

	12	CORPORATE UNDERTAKINGS 

  

	12.1	General 

 The Guarantor also undertakes with the Security Trustee to comply with the
following provisions of this Clause 12 at all times during the Security Period except as the Facility Agent may, with the authority of all the Lenders, otherwise permit (in the case of Clause 12.2(f), such permission not to be unreasonably withheld,
delayed or conditioned). 
  

	12.2	Negative undertakings 

 The Guarantor will not: 

 

	(a)	change the nature of its business (being that of owning, shipowning or holding companies, chartering (in and out) and operating, through its wholly-owned subsidiaries, Fleet Vessels); or 


 

	(b)	pay any dividend or make any other form of distribution or effect any form of redemption, purchase or return of share capital if an Event of Default has occurred and is continuing at the relevant time or an Event of
Default will result from the payment of a dividend or the making of any other form of distribution. In all other cases the Guarantor will be free to distribute dividends or make other distributions; or 


 

	(c)	provide any form of credit or financial assistance to: 

  

	 	(i)	a person who is directly or indirectly interested in the Guarantor’s or any other Security Party’s share or loan capital; or 


  
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	 	(ii)	any company in or with which such a person is directly or indirectly interested or connected, 


or enter into any transaction with or involving such a person or company on terms which are, in any respect, less favourable to the Guarantor
than those which it could obtain in a bargain made at arms’ length; or 
  

	(d)	issue, allot or grant any person a right to any shares in its capital or repurchase or reduce its issued share capital; or 

  

	(e)	enter into any form of amalgamation, merger or de-merger or any form of reconstruction or reorganisation; or 


 

	(f)	change its constitutional documents in a material respect; or 

  

	(g)	pledge, assign, charge, dispose of, nor create or permit any Security Interest or other third party right (nor agree to assign, charge, pledge, dispose of or create or permit any Security Interest or other third party
right) on or over the shares in the Relevant Borrower(s) other than in favour of the Security Trustee. 

  

	12.3	Financial Covenants 

 The Guarantor shall ensure that at all times: 

 

	(a)	the Leverage Ratio shall not exceed 72.5 per cent.; 

  

	(b)	the ratio of EBITDA to Net Interest Expense, on a trailing 12-month basis, shall be no less than 2:1; and 


 

	(c)	the Liquid Assets of the Group shall be in an amount of not less than $500,000 per Fleet Vessel. 

  

	12.4	Compliance Check 

 Compliance with the undertakings contained in Clause 12.3 shall be
tested semi-annually and determined by reference to the unaudited consolidated accounts of the Group for the first 6-month period in each financial year of the Guarantor delivered to the Facility Agent
pursuant to Clause 11.4(b)(ii) and for the second 6-month period in each financial year of the Guarantor, by reference to the audited consolidated accounts of the Guarantor for that Financial Year delivered to
the Facility Agent pursuant to Clause 11.4(a)(ii). At the same time as it delivers its consolidated accounts, the Guarantor shall deliver to the Facility Agent a Compliance Certificate, signed by the chief financial officer of the Guarantor. 

 

	12.5	Change in accounting expressions and policies 

 If, by reason of change in format or
US GAAP or other relevant accounting policies, the expressions appearing in any accounts and financial statements referred to in Clause 11.4 alter from those in the accounts and financial statements for the Group for the year ending on
31 December 2015, the relevant definitions contained in Clause 1.1 and the provisions of Clause 12.3 shall be deemed modified in such manner as the Facility Agent, acting with the authorisation of all the Lenders, shall require to take account
of such different expressions but otherwise to maintain in all respects the substance of those provisions. 
  

	12.6	Guarantor’s financial covenants 

 If, in the reasonable opinion of the Facility
Agent (acting on the instructions of the Lenders), the Guarantor, in the context of a financing made or to be made available to a member of the Group or otherwise, agrees with any third party financial covenants which: 

  
 14 









	(a)	are more favourable than those applicable to the Finance Parties pursuant to the Finance Documents; 

  

	(b)	place that third party in a more favourable position than that applicable to the Creditor Parties pursuant to this Guarantee or any other Guarantor’s Document; and 


 

	(c)	are more onerous than those imposed on the Guarantor pursuant to this Guarantee or any other Guarantor’s Document, 


the Guarantor shall, or shall procure that any Security Party or any other third party shall, give the Creditor Parties the benefit of such
financial covenants which, in the opinion of the Finance Parties, would place them in the same position as that applicable to the other lender or lenders at the relevant time by entering into a supplemental agreement to this Guarantee and any of the
other Guarantor’s Documents by which the applicable covenants and undertakings are amended and supplemented to place them in the same position as that applicable to the other lender or lenders at the relevant time (with such supplemental
agreement being entered into as soon as practicable after the imposition of such financial covenants on the Guarantor by the third party). 
  

	12.7	Valuation of Fleet Vessels 

 The market value of a Fleet Vessel at any date is that shown
by taking the arithmetic means of two valuations requested by the Guarantor to be issued by two Approved Brokers appointed by the Guarantor, each valuation to be prepared: 
  

	(a)	as at a date not more than 15 days prior to the relevant Compliance Date; 

  

	(b)	with or without physical inspection of that Fleet Vessel (as the Facility Agent may require); 

  

	(c)	on the basis of a sale for prompt delivery for cash on normal arm’s length commercial terms as between a willing seller and a willing buyer, free of any existing charter or other contract of employment; and


  

	(d)	after deducting the estimated amount of the usual and reasonable expenses which would be incurred in connection with the sale. 

  

	12.8	Maintenance of ownership of Relevant Borrowers 

 The Guarantor shall remain the ultimate
legal owner of the entire issued and allotted share capital of each Relevant Borrower (other than an Affected Borrower) free from any Security Interest. 
  

	13	JUDGMENTS AND CURRENCY INDEMNITY 

  

	13.1	Judgments relating to Loan Agreement and Master Agreements 

 This Guarantee shall cover
any amount payable by the Relevant Borrowers under or in connection with any judgment relating to the Guaranteed Advances and any amounts payable under the Loan Agreement, the Master Agreements and any other Finance Document in connection with, or
attributable to, the Guaranteed Advances and to the period during which any Relevant Borrower is a member of the same Group as the Guarantor. 
  

	13.2	Currency indemnity 

 In addition, clause 21.6 (currency indemnity) of the Loan
Agreement shall apply, with any necessary adaptations, in relation to this Guarantee. 

  
 15 









	14	SET OFF 

  

	14.1	Application of credit balances 

 Each Creditor Party may with prior notice to the
Guarantor: 
  

	(a)	apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Guarantor at any office in any country of that Creditor Party in or towards satisfaction of any sum
then due from the Guarantor to that Creditor Party under this or any of the other Finance Documents; and 

  

	(b)	for that purpose: 

  

	 	(i)	break, or alter the maturity of, all or any part of a deposit of the Guarantor; 

  

	 	(ii)	convert or translate all or any part of a deposit or other credit balance into Dollars; and 

  

	 	(iii)	enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate. 


 

	14.2	Existing rights unaffected 

 No Creditor Party shall be obliged to exercise any of its
rights under Clause 14.1; and those rights shall be without prejudice and in addition to any right of set off, combination of accounts, charge, lien or other right or remedy to which a Creditor Party is entitled (whether under the general law or any
document). 
  

	14.3	Sums deemed due to a Lender 

 For the purposes of this Clause 14, a sum payable by the
Guarantor to the Facility Agent or the Security Trustee for distribution to, or for the account of, a Lender shall be treated as a sum due to that Lender; and each Lender’s proportion of a sum so payable for distribution to, or for the account
of, the Lenders shall be treated as a sum due to that Lender. 
  

	15	SUPPLEMENTAL 

  

	15.1	Continuing guarantee 

 This Guarantee shall remain in force as a continuing security at
all times during the Security Period in respect of the period during which a Relevant Borrower is a member of the Group. 
  

	15.2	Rights cumulative, non-exclusive 

 The Security
Trustee’s rights under and in connection with this Guarantee are cumulative, may be exercised as often as appears expedient and shall not be taken to exclude or limit any right or remedy conferred by law. 

 

	15.3	No impairment of rights under Guarantee 

 If the Security Trustee omits to exercise,
delays in exercising or invalidly exercises any of its rights under this Guarantee, that shall not impair that or any other right of the Security Trustee under this Guarantee. 

 

	15.4	Severability of provisions 

 If any provision of this Guarantee is or subsequently
becomes void, illegal, unenforceable or otherwise invalid, that shall not affect the validity, legality or enforceability of its other provisions. 

  
 16 









	15.5	Guarantee not affected by other security 

 This Guarantee shall not impair, nor be
impaired by, any other guarantee, any Security Interest or any right of set-off or netting or to combine accounts which the Security Trustee or any other Creditor Party may now or later hold in connection with
the Loan Agreement, a Master Agreement or any other Finance Document. 
  

	15.6	Guarantor bound by Finance Documents 

 The Guarantor agrees with the Security Trustee to
be bound by all provisions of each Finance Document which are applicable to the Borrowers in the same way as if those provisions had been set out (with any necessary modifications) in this Guarantee. 

 

	15.7	Applicability of provisions of Guarantee to other Security Interests 

 Any Security
Interest which the Guarantor creates (whether at the time at which it signs this Guarantee or at any later time) to secure any liability under this Guarantee shall be a principal and independent security, and Clauses 3 and 18 shall, with any
necessary modifications, apply to it, notwithstanding that the document creating the Security Interest neither describes it as a principal or independent security nor includes provisions similar to Clauses 3 and 18. 

 

	15.8	Applicability of provisions of Guarantee to other rights 

 Clauses 3 and 18 shall also
apply to any right of set-off or netting or to combine accounts which the Guarantor creates by an agreement entered into at the time of this Guarantee or at any later time (notwithstanding that the agreement
does not include provisions similar to Clauses 3 and 18), being an agreement referring to this Guarantee. 
  

	15.9	Guarantor’s approval of Loan Agreement, Master Agreements and the other Finance Documents 


The Guarantor has read the Loan Agreement, each Master Agreement and the other Finance Documents and understands and approves all the terms and
conditions of the Loan Agreement, the Master Agreements and the other Finance Documents. 
  

	15.10	Third party rights 

 A person (other than a Creditor Party) who is not a party to this
Guarantee has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce or to enjoy the benefit of any term of this Guarantee. 
  

	16	ASSIGNMENT 

  

	16.1	Assignment by Security Trustee 

 The Security Trustee may assign its rights under and in
connection with this Guarantee with prior notice to the Guarantor to the same extent as it may assign its rights under the Loan Agreement. 
  

	17	NOTICES 

  

	17.1	Notices to Guarantor 

 Any notice or demand to the Guarantor under or in connection with
this Guarantee shall be given by letter or fax at: 
 c/o Capital Ship Management Corp. 

3, Iassonos Street 
 185 37
Piraeus 
 Greece 

  
 17 








 Fax No: +30 210 4285 679 

Attn: Capital Product Partners L.P./the Chief Financial Officer 

or to such other address which the Guarantor may notify to the Security Trustee. 

 

	17.2	Application of certain provisions of Loan Agreement 

 Clauses 28.3, 28.4 and 28.5 of the
Loan Agreement apply to any notice or demand under or in connection with this Guarantee. 
  

	17.3	Validity of demands 

 A demand under this Guarantee shall be valid notwithstanding that
it is served: 
  

	(a)	on the date on which the amount to which it relates is payable by the Relevant Borrowers under the Loan Agreement, the Master Agreements or any of the other Finance Documents; and 


 

	(b)	at the same time as the service of a notice under clause 19.2 (actions following an event of default) of the Loan Agreement, 


and a demand under this Guarantee may refer to all amounts payable under or in connection with any Finance Document without specifying a
particular sum or aggregate sum. 
  

	17.4	Notices to Security Trustee 

 Any notice to the Security Trustee under or in connection
with this Guarantee shall be sent to the same address and in the same manner as notices to the Security Trustee under the Loan Agreement. 
  

	18	INVALIDITY OF LOAN AGREEMENT 

  

	18.1	Invalidity of Loan Agreement 

 In the event of: 

 

	(a)	the Loan Agreement now being or later becoming, with immediate or retrospective effect, void, illegal, unenforceable or otherwise invalid for any other reason whatsoever, whether of a similar kind or not; or


  

	(b)	without limiting the scope of paragraph (a), a bankruptcy of any Borrower, the introduction of any law or any other matter resulting in any Borrower being discharged from liability under the Loan Agreement, or the Loan
Agreement ceasing to operate (for example, by interest ceasing to accrue), 

 this Guarantee shall cover any amount which would
have been or become payable under or in connection with the Guaranteed Advances pursuant to the Loan Agreement if the Loan Agreement had been and remained entirely valid, legal and enforceable, or that Borrower had not suffered bankruptcy, or any
combination of such events or circumstances, as the case may be, and that Borrower had remained fully liable under it for liabilities whether invalidly incurred or validly incurred but subsequently retrospectively invalidated; and references in this
Guarantee to amounts payable by that Borrower under or in connection with the Loan Agreement shall include references to any amount which would have so been or become payable as aforesaid. 

  
 18 









	18.2	Invalidity of Finance Documents 

 Clause 18.1 also applies to each of the Finance
Documents to which each Relevant Borrower is a party. 
  

	19	GOVERNING LAW AND JURISDICTION 

  

	19.1	English law 

 This Guarantee and any
non-contractual obligations arising out of or in connection with it shall be governed by, and construed in accordance with, English law. 

 

	19.2	Exclusive English jurisdiction 

 Subject to Clause 19.3, the courts of England shall have
exclusive jurisdiction to settle any Dispute. 
  

	19.3	Choice of forum for the exclusive benefit of the Security Trustee 

 Clause 19.2 is for
the exclusive benefit of the Security Trustee, which reserves the rights: 
  

	(a)	to commence proceedings in relation to any Dispute in the courts of any country other than England and which have or claim jurisdiction to that Dispute; and 


 

	(b)	to commence such proceedings in the courts of any such country or countries concurrently with or in addition to proceedings in England or without commencing proceedings in England. 


The Guarantor shall not commence any proceedings in any country other than England in relation to a Dispute. 

 

	19.4	Process agent 

 The Guarantor irrevocably appoints Curzon Maritime Ltd. at their office
for the time being, presently at St. Clare House, 30-33 Minories, London EC3N 1DJ, England, to act as its agent to receive and accept on its behalf any process or other document relating to any proceedings in
the English courts which are connected with a Dispute. 
  

	19.5	Creditor Parties’ rights unaffected 

 Nothing in this Clause 19 shall exclude or
limit any right which any Creditor Party may have (whether under the law of any country, an international convention or otherwise) with regard to the bringing of proceedings, the service of process, the recognition or enforcement of a judgment or
any similar or related matter in any jurisdiction. 
  

	19.6	Meaning of “proceedings” and “Dispute” 

 In this Clause 19,
“proceedings” means proceedings of any kind, including an application for a provisional or protective measure and a “Dispute” means any dispute arising out of or in connection with this Guarantee (including a
dispute relating to the existence, validity or termination of this Guarantee) or any non-contractual obligation arising out of or in connection with this Guarantee. 

THIS GUARANTEE has been entered into on the date stated at the beginning of this Guarantee. 

  
 19 








 SCHEDULE 1 

FORM OF COMPLIANCE CERTIFICATE 
  

	To:	Crédit Agricole Corporate and Investment Bank 

 12, place des Etats-Unis 

CS 70052, 
 France 

Date: [●] 
 Dear Sirs, 

We refer to: 
  

	(a)	a loan agreement dated [●] 20172018 and made between (i) Asterias Crude Carrier S.A. and Scorpio Crude Carrier S.A. as joint and several borrowers (together, the “Borrowers” and each a
“Borrower”), (ii) the banks and financial institutions listed therein as lenders (together, the “Lenders”), (iii) Crédit Agricole Corporate and Investment Bank (“CACIB”) as facility agent and
account bank, (iv) ING Bank N.V. as swap bank, (v) yourselves as Security Trustee and (vi) CACIB and ING Bank N.V. as mandated lead arrangers and bookrunners, it was agreed that the Lenders would make available to the Borrowers a
secured pre and post-delivery term loan facility of up to US$70,200,000; and 

  

	(b)	a guarantee dated [●] 2017 (the “Guarantee”) made between (1) ourselves as guarantor and (2) yourselves as security trustee. 


Words and expressions defined in the Loan Agreement and the Guarantee shall have the same meaning when used in this compliance certificate. 

We enclose with this certificate a copy of the [unaudited consolidated accounts for the Group for the 6-month period
ended [●]]/[the audited consolidated annual accounts of the Group for the year ended [●]]. The accounts (i) have been prepared in accordance with all applicable laws and US GAAP consistently applied, (ii) give a true and
fair view of the state of affairs of the Relevant Borrowers (as such term is defined in the Guarantee), ourselves and the Group at the date of the accounts and of its profit for the period to which the accounts relate and (iii) fully disclose
or provide for all significant liabilities of the Relevant Borrowers, ourselves and the Group. 
 The Guarantor represents that no Event of Default or
Potential Event of Default has occurred or is continuing as at the date of this certificate [except for the following matter or event [set out all material details of matter or event]]. In addition as of [●], the Guarantor confirms
compliance with the financial covenants set out in clause 12.3 of the Guarantee for the 6 months ending as at the date to which the enclosed accounts are prepared. 

We now certify that, as at [●]: 
  

	(a)	the Leverage Ratio is [●] per cent.; 

  

	(b)	the ratio of EBITDA to Net Interest Expense is [●]:1; and 

  

	(c)	the Liquid Assets of the Group are [●] and therefore not less than $500,000 per Fleet Vessel; and 


  
 20 








 This Certificate shall be governed by, and construed in accordance with, English law. 

 

	
	  

	[●]
	Chief Financial Officer of
	CAPITAL PRODUCT PARTNERS L.P.


  
 21 








 EXECUTION PAGE 

GUARANTOR 
  

			
	SIGNED by /s/ Vanessa Christina Dritsa	 	)
	for and on behalf of	 	)
	CAPITAL PRODUCT	 	)
	PARTNERS L.P.	 	)
	in the presence of:	 	)
	/s/ Daphne Elektra A. Stamatopoulos
	  
 SECURITY TRUSTEE

 

	SIGNED by /s/ Anthi Kekatou )
	for and on behalf of	 	)
	CRÉDIT AGRICOLE CORPORATE) 	 	)
	AND INVESTMENT BANK	 	)
	in the presence of:	 	)
	/s/ Daphne Elektra A. Stamatopoulos


  
 22