Document:

Exhibit 10.5

 

OceanTech Acquisitions I Corp.

515 Madison Avenue, Suite 8133

New York, New York 10022

 

	 	May 27,
2021

 

OceanTech Acquisitions I Sponsors LLC

515 Madison Avenue, Suite 8133

New York, NY 10022

Attn: Joseph Adir

 

	 Re:	Administrative Support Agreement

 

Ladies and Gentlemen:

 

This letter agreement by and
between OceanTech Acquisitions I Corp., a Delaware corporation (the “Company”) and OceanTech Acquisitions I Sponsors
LLC (“Sponsor”), dated as of the date hereof, will confirm our agreement that, commencing on the date the securities
of the Company are first listed on The Nasdaq Capital Market (the “Listing Date”), pursuant to a Registration Statement
on Form S-1 and prospectus filed with the U.S. Securities and Exchange Commission (the “Registration Statement”)
and continuing until the earlier of the consummation by the Company of an initial business combination or the Company’s liquidation
(in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination Date”):

 

(i)            Sponsor
shall make available, or cause to be made available, to the Company, at 515 Madison Avenue, Suite 8133, New York, NY 10022,
(or any successor location of Sponsor), certain office space, utilities and secretarial and administrative support as may be reasonably
required by the Company. In exchange therefor, the Company shall pay Sponsor the sum of $10,000 per month on the Listing Date and continuing
monthly thereafter until the Termination Date; and

 

(ii)            Sponsor
hereby irrevocably waives any and all right, title, interest, causes of action and claims of any kind as a result of, or arising out of,
this letter agreement (each, a “Claim”) in or to, and any and all right to seek payment of any amounts due to it out
of, the trust account established for the benefit of the public stockholders of the Company and into which substantially all of the proceeds
of the Company’s initial public offering will be deposited (the “Trust Account”) as a result of, or arising out
of, this letter agreement, and hereby irrevocably waives any Claim it may have in the future, which Claim would reduce, encumber or otherwise
adversely affect the Trust Account or any monies or other assets in the Trust Account, and further agrees not to seek recourse, reimbursement,
payment or satisfaction of any Claim against the Trust Account or any monies or other assets in the Trust Account for any reason whatsoever.

 

This letter agreement constitutes
the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings,
agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter
hereof or the transactions contemplated hereby.

 

    

     

    

 

This letter agreement may
not be amended, modified or waived as to any particular provision, except by a written instrument executed by the parties hereto.

 

No party hereto may assign
either this letter agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other
party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign
any interest or title to the purported assignee.

 

This letter agreement constitutes
the entire relationship of the parties hereto, and this letter agreement and any litigation between the parties (whether grounded in contract,
tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted pursuant to the laws of the State of
New York, without giving effect to its choice of law principles.

 

[Signature Page Follows]

 

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	 	Very truly yours,
	 	 
	 	OCEANTECH ACQUISITIONS I CORP.
	 	 
	 	 
	 	By:	/s/ Joseph Adir 
	 	Name: 	Joseph Adir
	 	Title:	Chief Executive Officer

 

 

 

	AGREED TO AND ACCEPTED BY:	 
	 	 
	OCEANTECH ACQUISITIONS I SPONSORS LLC	 
	 	 
	 	 
	By:	/s/ Joseph Adir	 
	Name:	 Joseph Adir	 
	Title:	Authorized Signatory	 

 

[Signature Page to Administrative Support
Agreement]Exhibit 10.1

    Execution Version

    AMENDMENT AND RESTATEMENT
      AGREEMENT

    AMENDMENT AND RESTATEMENT AGREEMENT, dated as of May 27, 2021 (this “Restatement Agreement”) by and among Diamond S Shipping Inc., a Marshall Islands corporation (“DSS Inc.” or the “Borrower”), the Lenders party hereto constituting Required Lenders under the Original Credit Agreement (as defined below) (the “Consenting Lenders”), NORDEA BANK ABP, NEW YORK BRANCH, as Administrative Agent (in such capacity, the “Administrative Agent”)
      and as Collateral Agent under the Security Documents, and International Seaways, Inc., a Marshall Islands corporation (“INSW” or “Holdings”, as the context may require).

    PRELIMINARY STATEMENTS

    A.  The Borrower, the Administrative Agent, the Collateral Agent and the Lenders party thereto from time to time are party
      to that certain Credit Agreement, dated as of December 23, 2019 (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to time prior to the date hereof, the “Original Credit Agreement”).

    B.  Reference is made to the Agreement and Plan of Merger, dated March 30, 2021 by and among INSW, Dispatch Transaction
      Sub, Inc., a Marshall Islands corporation (“Merger Sub”), and DSS Inc. (the “Merger Agreement”),
      pursuant to which INSW intends to acquire, in a “friendly” transaction, DSS Inc. by way of a merger of Merger Sub with and into DSS Inc., with DSS Inc. continuing as the surviving entity of such merger and as a wholly-owned subsidiary of INSW (the “Merger”).  Immediately following the Merger, INSW will contribute all the shares of DSS Inc. to International Seaways Operating Corporation (“ISOC”). The Merger, the contribution of DSS Inc. to ISOC, and all transactions related thereto under the Merger Agreement are referred to herein as the “Merger Transactions”.

    C.  In addition, reference is made to that certain amendment request letter dated March 9, 2021 (the “Request Letter”) and that certain consent letter dated March 30, 2021 (the “Consent Letter”),
      pursuant to which the Borrower has requested and the Lenders under the Original Credit Agreement have (i) consented to the Merger Transactions, (ii) provided waivers of certain provisions of the Original Credit Agreement in connection with the Merger
      Transactions and certain other matters and (iii) agreed to amend certain other provisions of the Original Credit Agreement.

    D.  Pursuant to the Request Letter, the Borrower has also requested that the Original Credit Agreement be amended and
      restated on the Restatement Date (as defined below) to reflect the combined corporate structure as a result of the Merger Transactions and to harmonize certain covenants with those applicable to INSW under that certain US$390 Million Credit
      Agreement, dated as of January 23, 2020 by and among ISOC, as the borrower, INSW, as holdings, the lenders party thereto from time to time, Nordea Bank Abp, New York Branch, as administrative agent, collateral agent and security trustee, and the
      other parties thereto (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to time prior to the date hereof, the “INSW Credit Agreement”).
      The Merger Transactions, the consents, waivers and amendments contemplated by the Consent Letter and this Restatement Agreement, and all transactions related thereto are referred to herein as the “Transactions”.

    NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the sufficiency and receipt
      of all of which are hereby acknowledged, the parties hereto hereby agree as follows:

    
      
        

    

    
    

    

    

    

    SECTION 1.  Definitions. 
      Capitalized terms not otherwise defined in this Restatement Agreement have the same meanings as specified in the Amended and Restated Credit Agreement or, if not defined therein, in the Original Credit Agreement.

    SECTION 2.  Conditions to the
          Effective Date.  This Restatement Agreement shall become effective on and after the date on which the following conditions shall have been satisfied (the “Effective
          Date”):

    (a)  This Restatement Agreement shall have been executed and delivered by the Borrower, the Subsidiary
      Guarantors, the Administrative Agent, the Collateral Agent, INSW and the Consenting Lenders.

    (b)  INSW shall have executed and delivered to the Administrative Agent, a Guaranty  substantially the form
      attached hereto as Annex B hereto (the “Holdings Guaranty Agreement”),
      guaranteeing all the obligations of the Borrower and each Subsidiary Guarantor under the Amended and Restated Credit Agreement and the other Credit Documents and the Other Obligations.

    (c)  The Administrative Agent and each of the Lenders shall have received all “know your customer”
      information required pursuant to the PATRIOT Act and the Beneficial Ownership Regulation in connection with their respective internal compliance regulations or other information requested by any Lender or the Administrative Agent to satisfy related
      checks under all applicable laws and regulations pursuant to the transactions contemplated hereby, in each case, to the extent requested by any Lender (which shall make such request through the Administrative Agent) or the Administrative Agent not
      later than five (5) Business Days prior to the Effective Date.

    (d)  The Administrative Agent shall have received an officer’s certificate of the Borrower and each
      Subsidiary Guarantor in form and substance reasonably acceptable to the Administrative Agent signed by an Authorized Officer of the Borrower and each such Subsidiary Guarantor, with appropriate insertions, (i) together with copies of the
      Organizational Documents of the Borrower and each such Subsidiary Guarantor (or, in lieu thereof, a certification by each such Authorized Officer that the Organizational Documents attached to the certificates delivered to the Administrative Agent by
      the Borrower and each such Subsidiary Guarantor in connection with the Closing Date pursuant to Section 5.01(c) of the Original Credit Agreement remain in full force and effect on the Effective Date without modification or amendment since the Closing
      Date), good standing certificates for the Borrower and each such Subsidiary Guarantor and the resolutions of the Borrower and each such Subsidiary Guarantor referred to in such certificate authorizing the entry into of this Restatement Agreement and
      the consummation of the Transactions and (ii) in the case of the certificate of the Borrower, certifying that the conditions set forth in clauses (f) and (g) of this Section 2 are satisfied.

    (e)  The Administrative Agent shall have received a certificate of INSW in form and substance reasonably
      acceptable to the Administrative Agent signed by an Authorized Officer of INSW, with appropriate insertions, together with copies of the Organizational Documents of INSW, a good standing certificate, and the resolutions of INSW referred to in such
      certificate authorizing the entry into this Restatement Agreement, the Holdings Guaranty Agreement and consummation of the Transactions.

    (f)  On and as of the Effective Date, all representations and warranties of the Borrower and its
      Subsidiaries contained in this Restatement Agreement, the Original Credit Agreement or in any other Credit Document shall be true and correct in all material respects (it being understood and agreed that any representation or warranty which by its
      terms is made as of a specified date shall be required to be true and correct in all material respects only as of such specified date).

    (g)  On and as of the Effective Date, no Default or Event of Default shall have occurred and be continuing.

    
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    (h)  The Administrative Agent shall have received, on behalf of itself and the Lenders, the following legal
      opinions with respect to this Restatement Agreement and the Holdings Guaranty Agreement:

    (i)  special New York counsel to each of the Credit Parties and INSW (which shall be
      Holland & Knight LLP or another New York law firm reasonably acceptable to the Administrative Agent), an opinion addressed to the Administrative Agent and each of the Lenders and dated as of the Effective Date as to matters of New York law and
      Delaware corporate law, and

    (ii)  special Republic of the Marshall Islands counsel to each of the Credit Parties and
      INSW (which shall be Holland & Knight LLP or another law firm qualified to render an opinion as to the Republic of the Marshall Islands law reasonably acceptable to the Administrative Agent), an opinion addressed to the Administrative Agent and
      each of the Lenders and dated as of the Effective Date.

    (i)  The Consent Letter and the waivers and amendments contained therein shall be in full force and effect
      and shall not have been terminated in accordance with the terms of the Consent Letter.

    (j)  Since March 30, 2021, there shall not have occurred any Delaware Material Adverse Effect (as defined
      in the Merger Agreement, as in effect on the date hereof) or Idaho Material Adverse Effect (as defined in the Merger Agreement, as in effect on the date hereof) that is continuing as of the Effective Date.

    (k) On the Effective Date, the Administrative Agent shall deliver written notice to the Lenders, the Credit Parties and INSW of
        the occurrence of the Effective Date.

    SECTION 3.  Amendment and
          Restatement.  Subject to the occurrence of the Restatement Date (as defined below), the Borrower and the Lenders party hereto agree to amend and restate the Original Credit Agreement as follows: (i) the Original Credit Agreement will
      be amended and restated in its entirety in the form attached as Annex A hereto, (ii) Schedules I through XI to the Original Credit Agreement will be amended and
      restated in the form attached hereto as Annex C, (iii) Schedules 1.01(a), 1.01(b), 6.06(a), 6.06(c), 6.18, 7.14, 8.01(b), 8.04(a) and 8.09(d) to the Amended and
      Restated Credit Agreement will be set forth on as Exhibit 1 to the Restatement Date Certificate (as defined below) (the “Disclosure Schedules”), (iv) Exhibit H to the
      Original Credit Agreement will be amended and restated in its entirety in the form attached hereto as Annex D hereto, (v) Exhibit K to the Amended and Restated
      Credit Agreement is attached as Annex E hereto and (vi) Exhibit L to the Amended and Restated Credit Agreement is attached as Annex F hereto.

    SECTION 4.  Conditions to the
          Restatement Date.  The amendment and restatement of the Original Credit Agreement set forth in Section 3 and the Holdings Guaranty Agreement shall become effective on and after the date when the following conditions shall have been
      satisfied (the “Restatement Date”):

    (a)  The Effective Date shall have occurred.

    (b)  The Intercompany Subordination Agreement (as defined in the Amended and Restated Credit Agreement)
      shall have been executed and delivered by INSW, the Borrower, and the Subsidiary Guarantors.

    (c)  The Administrative Agent will have received a closing certificate from an Authorized Officer of INSW
      in the form attached hereto as Annex G (the “Restatement Date Certificate”),
      together with all attachments thereto, certifying as to the satisfaction of the conditions set forth in Sections 4(d), 4(e), 4(g), 4(h), 4(i) and 4(j) of this Restatement Agreement and attaching the Disclosure Schedules.

    
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    (d)  The Merger Transactions will have been consummated concurrently with the Restatement Date
      substantially in accordance with the Merger Agreement, without any waiver, amendment or modification thereof, in each case, that is materially adverse to the Lenders unless consented to in writing by the Administrative Agent (such consent not to be
      unreasonably withheld or delayed).

    (e)  The Consent Letter and the waivers and amendments contained therein shall be in full force and effect
      and shall not have been terminated in accordance with the terms of the Consent Letter.

    (f)  INSW shall cause to be delivered to the Administrative Agent a solvency certificate from an Authorized
      Officer of INSW, substantially in the form of Exhibit L to the Amended and Restated Credit Agreement, which shall be addressed to the Administrative Agent and dated
      as of the Restatement Date, setting forth the conclusion that, after giving effect to the Transactions, each Credit Party individually (after giving effect to rights of contribution and subrogation) and INSW and its Subsidiaries taken as a whole, are
      not insolvent, and will not be left with unreasonably small capital with which to engage in its business and will not have incurred debts beyond its ability to pay such debts as they become due.

    (g)  On the Restatement Date, after giving effect to the consummation of the Transactions and the
      performance by the Credit Parties of the Credit Documents, the obligations incurred in connection therewith and the other transactions contemplated hereby, (i) there shall be no conflict with, or default under the INSW Credit Agreement or any other
      material agreement to which INSW, the Borrower or any Subsidiary Guarantor is a party and (ii) INSW and its Subsidiaries shall be in pro forma compliance with all Financial Covenants set forth in the INSW Credit Agreement.

    (h)  On the Restatement Date, after giving effect to the consummation of the Transactions, INSW and its
      Subsidiaries shall have no outstanding Financial Indebtedness (as defined in the Amended and Restated Credit Agreement) or Contingent Obligations (as defined in the Amended and Restated Credit Agreement) except for those expressly permitted under the
      Credit Documents.

    (i)  On and as of the Restatement Date, all representations and warranties of INSW and its Subsidiaries
      contained in this Restatement Agreement, the Amended and Restated Credit Agreement or in any other Credit Document shall be true and correct in all material respects (it being understood and agreed that any representation or warranty which by its
      terms is made as of a specified date shall be required to be true and correct in all material respects only as of such specified date).

    (j)  Since the Effective Date, there shall not have occurred any Delaware Material Adverse Effect (as
      defined in the Merger Agreement, as in effect on the date hereof) or Idaho Material Adverse Effect (as defined in the Merger Agreement, as in effect on the date hereof) that is continuing as of the Restatement Date.

    (k)  The Administrative Agent shall have received, on behalf of itself and the Lenders, the following legal
      opinions with respect to the Amended and Restated Credit Agreement, the Holdings Guaranty Agreement and the Intercompany Subordination Agreement and any other Credit Documents not covered by the opinions delivered in Section 2(g) of this Restatement
      Agreement:

    (i)  special New York counsel to each of the Credit Parties (including INSW) (which
      shall be Holland & Knight LLP or another New York law firm reasonably acceptable to the Administrative Agent), an opinion addressed to the Administrative Agent and each of the Lenders and dated as of the Restatement Date as to matters of New York
      law and Delaware corporate law, and

    (ii)  special Republic of the Marshall Islands counsel to each of the Credit Parties
      (which shall be Holland & Knight LLP or another law firm qualified to render an

    
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    opinion as to the Republic of the Marshall Islands law reasonably acceptable to the Administrative Agent),
      an opinion addressed to the Administrative Agent and each of the Lenders and dated as of the Restatement Date.

    (l)  INSW shall have delivered to the Administrative Agent (i) the audited consolidated balance sheets and
      related consolidated statements of operations, stockholders’ equity and cash flows of Holdings and its Subsidiaries (other than the DSS Group) as of the fiscal year ended December 31, 2020, (ii) the unaudited consolidated balance sheets and related
      consolidated statements of operations, stockholders’ equity and cash flows of Holdings and its Subsidiaries (other than the DSS Group) for each fiscal quarter ended at least 45 days prior to the Restatement Date (the financial statements referred to
      in clauses (i) and (ii), collectively, the “Historical Financial Statements”) and (iii) pro forma consolidated balance sheet of INSW and its Subsidiaries (including DSS Inc. and its Subsidiaries) and a pro forma consolidated statement of income of INSW and its
      Subsidiaries as of and for the twelve-month period ending on the last day of the most recently completed four fiscal quarter period ended at least 45 days (or 90 days with respect to any four fiscal quarter period ending on the last day of a fiscal
      year) before the Restatement Date, prepared after giving effect to the Transactions as if the Transactions had occurred at the beginning of such period; provided
      that the requirement to deliver the pro forma financial statements referred to in this clause (l)(iii) may be satisfied by delivery of a registration statement on Form S-4 which includes such pro forma financial information and which Form S-4 has
      been posted on the SEC website accessible through http://www.sec.gov/edgar/searchedgar/webusers.htm or such successor webpage of the SEC thereto. The Historical Financial Statements have been prepared in accordance with GAAP consistently applied
      throughout the applicable period covered, respectively, thereby and present fairly and accurately in all material respects the financial condition and results of operations and, if applicable, cash flows of INSW and its Subsidiaries as of the dates
      and for the periods to which they relate (subject, in the case of interim financial statements, to normal year-end audit adjustments and the absence of footnotes).  Except as set forth in the Historical Financial Statements and the most recent
      financial statements delivered by the Borrower pursuant to Sections 7.01(a) and 7.01(b) of the Original Credit Agreement, as of the Restatement Date, there are no liabilities of Holdings, the Borrower or any of their respective Subsidiaries of any
      kind, whether accrued, contingent, absolute, determined, determinable or otherwise, that would reasonably be expected to have (i) with respect to the DSS Group, a Delaware Material Adverse Effect (as defined in the Merger Agreement, as in effect on
      the date hereof) or (ii) with respect to INSW and its Subsidiaries, an Idaho Material Adverse Effect (as defined in the Merger Agreement, as in effect on the date hereof).

    (m)  INSW shall have delivered to the Administrative Agent forecasts of financial performance consisting
      of projected income statements, balance sheets and cash flows of INSW and its Subsidiaries, for the fiscal years 2021-2024 (the “Projections”) and the assumptions
      upon which the Projections are based. The Projections have been prepared in good faith by Holdings based upon assumptions that are reasonable at the time made and at the time the related Projections are made available to the Lenders (it being
      understood by the parties that projections by their nature are inherently uncertain, no assurances are being given that the results reflected in such Projections will be achieved, that actual results may differ and that such differences may be
      material).

    (n)  For the account of each Consenting Lender, a non-refundable consent fee equal to 0.20% of the
      aggregate principal amount of Loans and undrawn Commitments of such Lender as of the date of this Agreement, which fee will be due and payable on the Restatement Date to the Administrative Agent for further distribution to each such Consenting
      Lender.

    (o)  Payment of all fees and all other reasonable fees and documented out-of-pocket costs and expenses
      (including, without limitation, the reasonable legal fees and expenses of White & Case LLP and other local counsel to the Administrative Agent) and other compensation due and payable on or prior to the Restatement Date, in each case, payable to
      the Administrative Agent, the Collateral Agent and

    
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    the Lenders in respect of the transactions contemplated by this Restatement Agreement to the extent reasonably invoiced at
      least two (2) Business Days prior to the Restatement Date.

    (p)  The Administrative Agent and each of the Lenders shall have received all “know your customer”
      information required pursuant to the PATRIOT Act and the Beneficial Ownership Regulation in connection with their respective internal compliance regulations or other information requested by any Lender or the Administrative Agent to satisfy related
      checks under all applicable laws and regulations pursuant to the transactions contemplated hereby, in each case, to the extent requested by any Lender (which shall make such request through the Administrative Agent) or the Administrative Agent not
      later than five (5) Business Days prior to the Restatement Date.

    (q)  On the Restatement Date, the Administrative Agent shall deliver written notice to the Lenders, the
      Credit Parties and INSW of the occurrence of the Restatement Date.

    SECTION 5.  Effect of
          Restatement; Miscellaneous.

    (a)  On and after the Restatement Date, the Amended and Restated Credit Agreement shall amend and restate
      the Original Credit Agreement in its entirety, with the parties hereby agreeing that there is no novation of the Original Credit Agreement and from and after the effectiveness of the Amended and Restated Credit Agreement, the rights and obligations
      of the parties under the Original Credit Agreement shall be subsumed and governed by the Amended and Restated Credit Agreement. From and after the Restatement Date, (i) each reference in the Amended and Restatement Credit Agreement and the other
      Credit Documents to “the Credit Agreement”, “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import and each reference to the Credit Agreement in any other Credit Document shall be deemed a reference to the Amended and Restated
      Credit Agreement, and (ii) the “Obligations” and “Secured Obligations” under, and each as defined in, the Original Credit Agreement shall continue as Obligations and Secured Obligations under the Amended and Restated Credit Agreement.

    (b)  This Restatement Agreement may not be amended, modified or waived except in accordance with Section
      11.12 of the Original Credit Agreement.

    (c)  This Restatement Agreement shall constitute a “Credit Document” for all purposes of the Original
      Credit Agreement, the Amended and Restated Credit Agreement and the other Credit Documents.

    SECTION 6.  Reaffirmation and
          Further Consent.

    (a)  Each Credit Party party hereto hereby consents to the terms and conditions of this Restatement
      Agreement.

    (b)  Each Credit Party that is party hereto hereby acknowledges that it has reviewed the terms and
      provisions of the Amended and Restated Credit Agreement and consents to the amendment and restatement of the Original Credit Agreement effected pursuant to the Amended and Restated Credit Agreement. Each Credit Party that is party hereto acknowledges
      and agrees that any of the Credit Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the
      execution or effectiveness of this Restatement Agreement.

    (c)  Each Credit Party hereby acknowledges and agrees that, after giving effect to the Effective Date and
      the Restatement Date, as applicable, all of its respective obligations and liabilities under the Credit Documents to which it is a party, as such obligations and liabilities have been amended by this Restatement Agreement, are reaffirmed, and remain
      in full force and effect.

    
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    (d)  After giving effect to this Restatement Agreement, each Credit Party reaffirms each Lien granted by it
      to the Collateral Agent for the benefit of the Secured Creditors under each of the Security Documents to which it is a party, which Liens shall continue in full force and effect during the term of the Original Credit Agreement, as amended by this
      Restatement Agreement, and shall continue to secure the Secured Obligations (after giving effect to this Restatement Agreement), in each case, on and subject to the terms and conditions set forth in the Original Credit Agreement, as amended by this
      Restatement Agreement, and the other Credit Documents.

    SECTION 7.  Execution in
          Counterparts.  This Restatement Agreement may be executed by one or more of the parties hereto on any number of separate counterparts and all of said counterparts taken together shall be deemed to constitute one and the same
      instrument.  Delivery of an executed counterpart of a signature page of this Restatement Agreement by facsimile or in electronic (i.e., “pdf” or “tif”) format shall be effective as delivery of a manually executed counterpart of this Restatement
      Agreement. The words “execution,” “signed,” “signature,” and words of like import in this Restatement Agreement shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal
      effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global
      and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar applicable state laws based on the Uniform Electronic Transactions Act.

    SECTION 8.  Successors. 
      This Restatement Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective successors and assigns of the parties hereto.

    SECTION 9.  GOVERNING LAW;
          SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL.  THIS RESTATEMENT AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.  Section
      11.09 of the Original Credit Agreement is incorporated herein by reference, mutatis mutandis.

    

    

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    IN WITNESS WHEREOF, the
      parties hereto have caused this Restatement Agreement to be executed by their respective officers thereunto duly authorized, as of the date first above
      written.

    

    

    	 	
            DIAMOND S SHIPPING INC., as the Borrower

          
	 	 
	 	 
	 	
            By:

          	/s/ Kevin M. Kilcullen 
	 	
            Name:

          	Kevin M. Kilcullen 

          
	 	
            Title:

          	Chief Financial Officer 

          
	 	 	 

    

    

    

    

    

    

    	 	
            INTERNATIONAL SEAWAYS, INC., as Holdings

          
	 	 
	 	 
	 	
            By:

          	/s/ James D. Small 

          
	 	
            Name:

          	James D. Small 

          
	 	
            Title:

          	Chief Administrative Officer, Senior Vice President, Secretary and General Counsel 

          
	 	 	 

    

    

    

    

    
      [Signature Page to DSS 525 Amendment and Restatement Agreement]

       

      

       

      

    

    
      
        

    

    

    

    	 	
            NORDEA BANK ABP, NEW YORK BRANCH, individually, as
              Administrative Agent and Collateral Agent

          
	 	 
	 	 
	 	
            By:

          	
            /s/ Oddbjørn Warpe

          
	 	
            Name:

          	Oddbjørn Warpe 

          
	 	
            Title:

          	Executive Director 

          
	 	 	 
	 	
            By:

          	/s/ Martin Lunder 

          
	 	
            Name:

          	Martin Lunder 

          
	 	
            Title:

          	Managing Director 

          
	 	 	 
	 	
            NORDEA BANK ABP, NEW YORK BRANCH, as Lender

          
	 	 
	 	 
	 	
            By:

          	/s/ Oddbjørn Warpe 

          
	 	
            Name:

          	Oddbjørn Warpe 

          
	 	
            Title:

          	Executive Director 

          
	 	 	 
	 	
            By:

          	/s/ Martin Lunder 

          
	 	
            Name:

          	Martin Lunder 

          
	 	
            Title:

          	Managing Director 

          
	 	 	 

    

    

    
      

      

      
        [Signature Page to DSS 525 Amendment and Restatement Agreement]

         

        

         

      

    

     

    

    
      
        

    

    

    

    	 	
            CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Lender

          
	 	 
	 	 
	 	
            By:

          	/s/ Manon Didier 

          
	 	
            Name:

          	Manon Didier 

          
	 	
            Title:

          	Vice President 

          
	 	 	 
	 	
            By:

          	/s/ Georgios Gkanasoulls 

          
	 	
            Name:

          	Georgios Gkanasoulls  

          
	 	
            Title:

          	Director 

          
	 	 	 

    

    

    
      

      

      
        [Signature Page to DSS 525 Amendment and Restatement Agreement]

         

        

         

      

    

    
      
        

    

    

    

    	 	
            SKANDINAVISKA ENSKILDA BANKEN AB (PUBL), as Lender

          
	 	 
	 	 
	 	
            By:

          	
            /s/ Mikael Franzén

          
	 	
            Name:

          	Mikael Franzén 

          
	 	
            Title:

          	 
	 	 	 
	 	
            By:

          	/s/ Ulrika Flygar 

          
	 	
            Name:

          	Ulrika Flygar 

          
	 	
            Title:

          	 
	 	 	 

    

    

    
      

      

      
        [Signature Page to DSS 525 Amendment and Restatement Agreement]

         

        

         

      

    

    
      
        

    

    

    

    	 	
            ABN AMRO CAPITAL USA LLC, as Lender

          
	 	 
	 	 
	 	
            By:

          	/s/ Amit Wynalda 

          
	 	
            Name:

          	Amit Wynalda 

          
	 	
            Title:

          	Excutive Director 

          
	 	 	 
	 	
            By:

          	/s/ Michel Choina 

          
	 	
            Name:

          	Michel Choina 

          
	 	
            Title:

          	Managing Director 

          
	 	 	 

    

    

    
      

      

      
        [Signature Page to DSS 525 Amendment and Restatement Agreement]

         

        

         

      

    

    

    

    

    

    
      
        

    

    

    

    	 	
            NATIONAL AUSTRALIA BANK LIMITED, as Lender

          
	 	 
	 	 
	 	
            By:

          	/s/ Daniel Carr 

          
	 	
            Name:

          	Daniel Carr 

          
	 	
            Title:

          	Head of Asset Finance & Leasing, North America 

          
	 	 	 

    

    

    
      

      

      
        [Signature Page to DSS 525 Amendment and Restatement Agreement]

         

        

         

      

    

    
      
        

    

    

    

    	 	
            BNP PARIBAS, as Lender

          
	 	 
	 	 
	 	
            By:

          	/s/ Eric Dulcire

          
	 	
            Name:

          	Eric Dulcire 

          
	 	
            Title:

          	Managing Director 

          
	 	 	 
	 	
            By:

          	/s/ Marion Fievez 

          
	 	
            Name:

          	Marion Fievez 

          
	 	
            Title:

          	Managing Director 

          
	 	 	 

    

    

    
      

      

      
        [Signature Page to DSS 525 Amendment and Restatement Agreement]

         

        

         

      

    

    

    

    

    

    
      
        

    

    

    

    	 	
            DIAMOND S SHIPPING II LLC

            DIAMOND S SHIPPING III LLC

            DSS VESSEL LLC

            DSS VESSEL IV LLC

            DSS VESSEL II, LLC

            DSS 1 LLC

            DSS 7 LLC

            DSS 2 LLC

            DSS 8 LLC

            DSS 5 LLC

            DSS 6 LLC

            DSS A LLC

            DSS B LLC

            DSS C LLC

            DSS D LLC,

            each as a Subsidiary Guarantor

             

            By:  /s/ Kevin M. Kilcullen

            

            Name: Kevin M. Kilcullen

            Title: Authorized Signatory

            

             

             

          

    

    

    
      

      

      
        [Signature Page to DSS 525 Amendment and Restatement Agreement]

         

        

         

      

    

    
      
        

    

    

    

    	 	
            HEROIC ANDROMEDA INC.

            HEROIC AURIGA INC.

            HEROIC AVENIR INC.

            HEROIC CORONA BOREALIS INC.

            HEROIC EQUULEUS INC.

            HEROIC GAEA INC.

            HEROIC HERA INC.

            HEROIC HERCULES INC.

            HEROIC HOLOGIUM INC.

            HEROIC HYDRA INC.

            HEROIC LIBRA INC.

            HEROIC LYRA INC.

            HEROIC OCTANS INC.

            HEROIC PEGASUS INC.

            HEROIC PERSEUS INC.

            HEROIC PISCES INC.

            HEROIC RHEA INC.

            HEROIC SAGITTARIUS INC.

            HEROIC SCORPIO INC.

            HEROIC SCUTUM INC.

            HEROIC SERENA INC.

            HEROIC TUCANA INC.

            HEROIC URANUS INC.

            HEROIC VIRGO INC.

            WHITE BOXWOOD SHIPPING S.A.

            WHITE HYDRANGEA SHIPPING S.A.,

            each as a Subsidiary Guarantor

             

            

            By:  /s/ Kevin M. Kilcullen

            

            Name: Kevin M. Kilcullen

            Title: Authorized Signatory

             

             

          

    

    

    
      

      

      
        [Signature Page to DSS 525 Amendment and Restatement Agreement]

         

        

         

      

    

    

    

    
      
        

    

    ANNEX A

    AMENDED AND RESTATED CREDIT AGREEMENT

    [SEE ATTACHED]

    
      
        

    

    

    

    ANNEX B

    HOLDINGS GUARANTY AGREEMENT

    [SEE ATTACHED]

    
      
        

    

    

    

    ANNEX C

    AMENDED AND RESTATED SCHEDULES I-XI

    [SEE ATTACHED]

    
      
        

    

    ANNEX D

    FORM OF EXHIBIT H TO THE AMENDED AND RESTATED CREDIT AGREEMENT

    [SEE ATTACHED]

    
      
        

    

    

    

    ANNEX E

    FORM OF EXHIBIT K TO THE AMENDED AND RESTATED CREDIT AGREEMENT

    [SEE ATTACHED]

    

    

    
      
        

    

    

    

    ANNEX F

    FORM OF EXHIBIT L TO THE AMENDED AND RESTATED CREDIT AGREEMENT

    [SEE ATTACHED]

    
      
        

    

    

    

    ANNEX G

    FORM OF RESTATEMENT DATE CERTIFICATE

    [SEE ATTACHED]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00328-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00328-of-00352.parquet"}]]