gnk_Ex10_8


		
			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]
		

		
			 
		

		



		 


 



		

			 

		




	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						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]

		





 



		

			 

		





		

		
			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]

		





 



		

			 

		




	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						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]

		





 



		

			 

		




	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						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]

		





 



		

			 

		




	
					
						

					
						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]

		





 



		

			 

		




	
					
						

					
						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]

		





 



		

			 

		




	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						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]

		





 



		

			 

		




	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						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]

		





 



		

			 

		




	
					
						

					
						 

					
					
						 

					
					
						 

				
	
					
						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]