Exhibit 4.41


 


FIRST SUPPLEMENTAL LETTER


 


		To:	Box Ships Inc.



of Trust Company Complex


Ajeltake Road


Ajeltake Island


Majuro


The Marshall Islands
MH96960


as borrower (the "Borrower")


 


15 September 2016


 


Dear Sirs


 


Loan Agreement dated 11 November 2014
(as amended and supplemented by a first supplemental agreement dated 1 July 2016, the "Loan Agreement") made between
(i) the Borrower and (ii) Credit Suisse AG as lender (the "Lender") in respect of a loan facility of up to US$31,650,000


 


We refer to the Loan Agreement. Words and
expressions defined in the Loan Agreement shall have the same meaning when used in this Letter unless the context may otherwise
require and for the purposes of this Letter:


 


"Effective Date" means
the date on which the conditions precedent listed in Clause 1 are satisfied.


 


You have requested that the Lender agrees
to:


 


		(a)	the extension of the Expiry Date; and



 


		(b)	the consequential amendments to the Loan Agreement and the other Finance Documents in connection
with the above matters.



 


		1	Agreement and conditions precedent. We hereby confirm our consent and approval to your request
in consideration of the sum of US$1 and other good and valuable consideration (the receipt and adequacy of which is hereby acknowledged)
and subject to the following conditions:



 


		(a)	the Borrower and each Security Party signs the acknowledgement to this Letter confirming its agreement
to the terms and conditions of the same; and



 


		(b)	that the Lender shall have received in form and substance satisfactory to it and its legal advisers
on or before the date of this Letter:



 


		(i)	a duly signed original of this Letter by all parties thereto;



 


		(ii)	documents of the kind specified in paragraphs 2, 3 and 4 of Schedule 2, Part A to the Loan Agreement
in relation to the Borrower and each Owner with appropriate modifications to refer to this Letter; and



 


		(iii)	any other document or evidence as the Lender may reasonably request in writing from the Borrower.



 


		2	Amendments to Loan Agreement. The Lender and the Borrower hereby confirm and agree that
the Loan Agreement shall be amended with effect on and from the Effective Date as follows:



 


		(a)	by deleting the definition of "Expiry Date" in clause 1.1 thereof and replacing it with
the following new definition:



 




     


     


    

 


""Expiry Date"
means 30 September 2016;";


 


		(b)	the definition of, and references throughout the Loan Agreement to, each Finance Document shall
be construed as if the same referred to that Finance Document as amended and supplemented by this First Supplemental Letter; and



 


		(c)	by construing references throughout the Loan Agreement to "this Agreement", "hereunder"
and other like expressions as if the same referred to the Loan Agreement as amended and supplemented by this First Supplemental
Letter.



 


		3	Amendments to Finance Documents. With effect on and from the Effective Date, each of the
Finance Documents other than the Loan Agreement shall be, and shall be deemed by this Letter to be, amended as follows:



 


		(a)	the definition of, and references throughout each of the Finance Documents to, the Loan Agreement
and any of the other Finance Documents shall be construed as if the same referred to the Loan Agreement and those Finance Documents
as amended and supplemented by this Letter; and



 


		(b)	by construing references throughout each of the Finance Documents to "this Agreement",
"this Deed", "hereunder" and other like expressions as if the same referred to such Finance Documents as amended
and supplemented by this Letter.



 


		4	Representations and Warranties. The Borrower hereby represents and warrants to the Lender
that:



 


		(a)	the representations and warranties contained in clause 9 of the Loan Agreement are true and correct
on the date of this Letter as if all references therein to "this Agreement" were references to the Loan Agreement as
supplemented by this Letter; and



 


		(b)	this Letter comprises the legal, valid and binding obligations of the Borrower enforceable in accordance
with its terms.



 


		5	Loan Agreement and Finance Documents. The Borrower hereby agrees with the Lender that the
provisions of the Loan Agreement and the Finance Documents (as amended and supplemented by this Letter) shall be and are hereby
re-affirmed and remain in full force and effect.



 


		6	Expenses. The provisions of clause 19 (fees and expenses) of the Loan Agreement shall
apply to this Letter as if the same were (mutatis mutandis) herein expressly set forth.



 


		7	Notices. Clause 27 (notices) of the Loan Agreement shall extend and apply to this Letter
as if the same were (mutatis mutandis) herein expressly set forth.



 


		8	Law and jurisdiction. This Letter, and any non-contractual obligations arising out of or
in connection with it, shall be governed by and construed in accordance with English law and clause 29 (law and jurisdiction) of
the Loan Agreement shall extend and apply to this Letter as if the same were (mutatis mutandis) herein expressly set forth.



 


Please confirm your acceptance to the foregoing
terms and conditions by signing the acceptance at the foot of the Letter.


 




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	Yours faithfully	 
	 	 
	 	 
	for and on behalf of	 
	CREDIT SUISSE AG 	 
	 	 
	Accepted and agreed	 
	 	 
	BORROWER	 
	 	 
	 	 
	for and on behalf of	 
	BOX SHIPS INC.	 
	 	 
	 	 
	for and on behalf of	 
	BOX SHIPS INC.	 
	 	 
	Dated: 15 September 2016	 


 




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We hereby confirm and acknowledge that
we have read and understood the terms and conditions of the above Letter and agree in all respects to the same and confirm that
the Finance Documents (as that term is defined in the Loan Agreement as amended and supplemented by the above Letter) to which
we are a party shall remain in full force and effect and shall continue to stand as security for the obligations of the Borrower
under the Loan Agreement and the other Finance Documents (each as amended and supplemented by the above Letter).


 


	OWNERS	 
	 	 
	 	 
	for and on behalf of	 
	LAWRY SHIPPING LTD 	 
	 	 
	 	 
	for and on behalf of	 
	TACITA OCEANWAY CARRIER CO.	 
	 	 
	 	 
	for and on behalf of	 
	ALAQUA MARINE LIMITED	 
	 	 
	Dated: 15 September 2016	 


 




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