Exhibit 4.17


 





SECOND
SUPPLEMENTAL AGREEMENT


to the Revolving Credit Facility Agreement
dated 16.12.2013


as amended by the First Supplemental
Agreement dated 28.04.2015


 


 


This Deed is dated December 29, 2015 and
is made in Cyprus BETWEEN:


 


		(1)	GLOBUS MARITIME LIMITED, a company duly incorporated in the Republic of the Marshall Islands
and having its registered address at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960, Marshall
Islands (the “Borrower”);



 


		(2)	FIRMENT TRADING LIMITED, a company duly incorporated in Cyprus and having its registered
office at 1 Kostaki Pantelidi Street, Kolokasides Building, 3rd floor, PC 1010, Nicosia, Cyprus (the “Lender”);



 


WHEREAS:


 


		1.	This Second Supplemental Agreement is supplemental to and constitutes an integral part of a facility
agreement dated 16th December 2013 (the “Original Facility Agreement”) as amended by a first supplemental
agreement dated 28 April 2015 (the “First Supplemental Agreement” and together with the Original Facility Agreement
are hereinafter referred to as the “Existing Facility Agreement”) made between the Borrower and the Lender,
pursuant to which the Lender agreed (inter alia) to make available to the Borrower, upon the terms and conditions therein
contained, a revolving credit facility of up to US Dollars Eight million (US$ 8,000,000) for the purpose specified therein.



 


		2.	This Second Supplemental Agreement sets out the terms and conditions upon which the Lender agrees,
at the request of the Borrower, to an increase of the amount of the Facility, as more specifically set out in this Second Supplemental
Agreement.



 


NOW IT IS HEREBY AGREED as follows:



 


		1.	DEFINITIONS AND INTERPRETATION



 


1.01Unless the context otherwise
requires or unless otherwise defined herein, words and expressions defined in the Existing Facility Agreement shall have the same
meanings when used in this Second Supplemental Agreement.


 






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1.02References in the Existing
Facility Agreement to “this agreement” shall be references to the Existing Facility Agreement as amended and supplemented
by this Second Supplemental Agreement and words such as “herein” and “hereof” where they appear in the
Existing Facility Agreement, shall be construed accordingly.


 


1.03In this Second Supplemental
Agreement:


 


“Facility Agreement”
means the Existing Facility Agreement as supplemented and amended by this Second Supplemental Agreement and/or as same may be supplemented
and/or varied and/or amended at any time hereinafter.


 


		2.	INCREASE OF THE FACILITY – AMENDMENTS TO THE EXISTING FACILITY AGREEMENT



 


2.01.Increase of the Facility


 


The Lender, at Borrower’s request,
hereby agrees, upon and subject to the terms of the Existing Facility Agreement and this Second Supplemental Agreement, to an increase
of the Facility in the additional amount of US Dollars twelve million (US $12,000,000),
thus increasing the aggregate amount of the Facility from US Dollars eight million (US $8,000,000)
(provided for in the Existing Facility Agreement) to US Dollars twenty million (US $20,000,000).
The additional amount of the Facility may be drawn by the Borrower in one or more Advances.


 


In view of the above, it is hereby agreed
that, with effect from 2 June 2015 (the “Effective Date”), Clause 1 (“Revolving Credit Facility–Purpose”)
of the Existing Facility Agreement is hereby amended to read as follows:


 


“1. REVOLVING
CREDIT FACILITY-PURPOSE


1.01This
agreement sets out the terms and conditions upon and subject to which the Lender, which is a shareholder of the Borrower, shall
make available to the Borrower a revolving credit facility of up to US Dollars Twenty million (US$20,000,000)
("the Facility" and such term shall mean the principal amount owing to the Lender at any relevant time) during
a period starting on the date hereof and ending on 11 April 2017 to be used by the Borrower for general working capital purposes.
The Lender shall not be obliged to monitor or verify how the proceeds of the Facility or part thereof have been used by the Borrower.”


 






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		2.02.	Further amendments to the Existing Facility Agreement



 


a)The Lender, at the request of the
Borrower, hereby agrees and the Borrower undertakes that the Loan and any and all other amounts owing at any relevant time by the
Borrower to the Lender under the Facility Agreement will be repaid in full not later than 12 April 2017.


 


b)In view of the above it is hereby
agreed that, with effect from the Effective Date, Clause 4.01 of the Existing Facility Agreement is hereby deleted and the following
clause is hereby inserted in its place:


 


4.01(Repayment)
The aggregate of all the Loans, interest accrued thereon, costs and all other sums owing and outstanding under this agreement shall
be repaid in full in one lump sum not later than 12 April 2017 (“the Final Maturity Date”). On the Final Maturity
Date, the Facility will be deemed automatically cancelled and revoked without any further notice to the Borrower and no amount
may be re-borrowed on or after the Final Maturity Date. On the Final Maturity Date any interest owing and unpaid, costs and any
other amounts owing under this agreement shall be repaid in full.”.


 


c)Clause 11.09 (Notices) of the Existing
Facility Agreement is hereby amended so that each notice or other communication to the Borrower, required to be given under, or
in connection with the Facility Agreement shall be sent to the email: corporatesecretary@globusmaritime.gr and shall be
addressed to the attention of the Corporate Secretary of the Borrower.


 


d)The Borrower hereby appoints Mrs
Olga Lambrianidou as process agent in Greece and revokes the appointment of Mr. Georgios Karageorgiou made by the Borrower in Clause
11.10 (Process Agent in Greece) of the Existing Facility Agreement and, as a result, Clause 11.10 of the Existing Facility Agreement
is hereby amended so that reference to Mr. Georgios Karageorgiou be deleted and Ms Olga Lambrianidou of 128 Vouliagmenis Avenue,
3rd Floor, 166 74 Glyfada, Greece, be referred to therein as the process agent in Greece .


 


e)Clause 11.13 (b) of the Existing
Facility Agreement is hereby deleted and replaced by the following:


 


“(b) Each of the parties
irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises
out of or in connection with this agreement or its subject matter or formation (including non-contractual disputes or claims).
Each of the parties hereto irrevocably and unconditionally submits to the jurisdiction of such courts and irrevocably designates,
appoints and empowers Mr. Emmanuel K. Stavrianakis (103, Totterbridge Lane, London N20 8DX, England) to receive for it and on its
behalf, service of process issued out of the English courts in any such legal action or proceedings.” 


 






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		3.	CONDITIONS PRECEDENT



 


3.01The effectiveness of Clause
2 of this Second Supplemental Agreement and the obligation of the Lender to allow any further use of the Facility or part thereof
is subject to the condition that the Lender shall have received the following documents and evidence in form and substance satisfactory
to the Lender and (if required by the Lender), certified, notarised, legalised or attested in a manner acceptable to the Lender:


 


		(i)	A recent certificate of Incumbency of the Borrower signed by the secretary or a director of the
Borrower stating its officers and/or its directors and confirming that there has been no change to the documents relating to its
constitution;



		(ii)	Minutes of meetings of the directors of the Borrower at which there was approved the entry into,
execution, delivery and performance of this Second Supplemental Agreement and any other documents executed or to be executed pursuant
hereto or thereto to which the Borrower is a party; and



		(iii)	Any other evidence, as the Lender may require, of the due authority of any person signing this
Second Supplemental Agreement and any other documents executed or to be executed pursuant hereto or thereto on behalf of the Borrower.



 


3.02The obligation of the Lender
to allow any further use of the Facility or part thereof is subject to the conditions that prior to and/or simultaneously with
the delivery of the relevant Utilisation Request:


 


		(i)	The representations and warranties set out in clause 6 of the Existing Facility Agreement are true
and correct on and as of each such time as if each was made with respect to the facts and circumstances existing at such time;



		(ii)	Any consent or permit as may be required has been obtained and remains valid; and



		(iii)	No Event of Default shall have occurred and be continuing or would result from the drawdown of
an Advance.



 


		4.	REPRESENTATIONS AND WARRANTIES



 


4.01This Second Supplemental
Agreement is entered into by the Lender in reliance upon the representations made herein by the Borrower to the effect that all
the representations and warranties in clause 6 of the Existing Facility Agreement are true and correct on the Effective Date as
if each were made with respect to the facts and circumstances existing at such time, including to the extent that they may have
been or shall be amended by this Second Supplemental Agreement and are repeated herein -as if contained in extenso and as
if made with reference to the facts and circumstances existing on the date hereof- in connection with the Borrower and the Borrower
covenants that the said representations and warranties shall remain true and correct and represents that there has not occurred
and/or is continuing any Event of Default or any event which would constitute an Event of Default with the passage of time or the
giving of notice or both.


 






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		5.	RECONFIRMATION



 


In consideration of the agreement of the
Lender contained in this Second Supplemental Agreement, the Borrower hereby reconfirms its obligations under the Existing Facility
Agreement, including, without limitation, compliance with the covenants contained in clause 8 of the Existing Facility Agreement,
despite the changes in this Second Supplemental Agreement.


 


		6.	MISCELLANEOUS 



 


6.01All the terms and conditions
of the Existing Facility Agreement (other than those amended by this Second Supplemental Agreement) remain in full force and effect
and apply to this Second Supplemental Agreement as well, and are deemed to be repeated as if set forth in extenso herein.


 


6.02The Existing Facility Agreement
and this Second Supplemental Agreement constitute an integral document which is valid and binding upon its parties in accordance
with its terms.


 


6.03This Second Supplemental
Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument.


 


6.04The Borrower covenants that
from time to time, at the request of the Lender, will execute and deliver to the Lender or procure the execution and delivery to
the Lender all such documents as the Lender shall reasonably deem necessary or desirable for giving full effect to this Second
Supplemental Agreement or the Facility Agreement and for perfecting and protecting the value of or enforcing any rights or securities
granted to the Lender under or pursuant to the Facility Agreement and this Second Supplemental Agreement


 


		7.	GOVERNING LAW AND JURISDICTION



 


7.01The provisions of clause
11.13(a) of the Existing Facility Agreement shall apply to this Second Supplemental Agreement as if it were set out in full and
as if reference to the Existing Facility Agreement were reference to this Second Supplemental Agreement.


 


7.02The parties irrevocably
agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of
or in connection with this Second Supplemental Agreement or its subject matter or formation (including non-contractual disputes
or claims). Each of the parties hereto irrevocably and unconditionally submits to the jurisdiction of such courts and irrevocably
designates, appoints and empowers Mr. Emmanuel K. Stavrianakis (103, Totterbridge Lane, London N20 8DX, England) to receive for
it and on its behalf, service of process issued out of the English courts in any such legal action or proceedings.


 






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		8.	THIRD PARTY RIGHTS



 


8.01 A person who is not a party
to this Second Supplemental Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce or to enjoy
the benefit of any term of this Second Supplemental Agreement.


 


IN WITNESS whereof, the parties hereto
have caused this Second Supplemental Agreement to be duly executed as a Deed the day and year first above written.


 





	Executed and delivered as a Deed	 	 	 
	By  Loucas Hadjiyiangou	)	 	
	for and on behalf of 	)	 	 
	GLOBUS MARITIME LIMITED	)	 	 
	the Borrower	)	 /s/ Loucas Hadjiyiangou 	 
	 	 	Attorney-in-Fact	 
	in the presence of 	) 	 	 
	Name Andrea Georgiou	)	 	 
	Address  Nicosia Cyprus	) 	/s/ Andrea Georgiou	
	Signature	) 		 
	 	 	 	 
	Executed and delivered as a Deed	 	 	 
	By Savvas Polydorou	)	 	 
	For and on behalf of	) 	 	 
	FIRMENT TRADING LIMITED	)	/s/ Savvas Polydorou 	 
	the Lender	) 	Director	 
	 	 		 
	in the presence of	) 	 	 
	Name  Nikolaos Bratis	)		 
	Address Nicosia Cyprus	)	/s/ Nikolaos Bratis	 
	Signature	)	 	 







 











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