Document:

exv10w2

Exhibit 10.2

COMMON STOCK PURCHASE AGREEMENT

          THIS COMMON STOCK PURCHASE AGREEMENT (the “Agreement”), is made as of February 3, 2011
by and between Superconductor Technologies Inc., a Delaware corporation (the “Company”),
and ______________________ (the “Investor”).

RECITALS

     A. The Company and the Investor desire to enter into this transaction to purchase and sell the
securities set forth herein pursuant to a currently effective shelf registration statement on Form
S-3, which has at least $62,000,000 in unallocated securities registered thereunder (Registration
Number 333-148115) (the “Registration Statement”), which Registration Statement has been
declared effective in accordance with the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder (the “Act”), by the United States Securities and
Exchange Commission (the “Commission”).

     B. The Investor wishes to purchase from the Company, and the Company wishes to sell to the
Investor, upon the terms and conditions stated in this Agreement, a number of shares of common
stock, $0.001 par value per share, of the Company (the “Common Stock”) specified below, at
a purchase price per share specified below.

     NOW, THEREFORE, the Company and the Investor hereby agree as follows:

AGREEMENT

     1. As of the Closing (as defined below) and subject to the terms and conditions hereof, the
Company and the Investor agree that the Investor will purchase from the Company and the Company
will issue and sell to the Investor _______ shares of Common Stock (the “Shares”) for a
purchase price of Two Dollars and Forty Five Cents ($2.45) per share, or an aggregate purchase
price of $_______ (the “Purchase Price”).

     2. The completion of the purchase and sale of the Shares shall occur at a closing (the
“Closing”) which is expected to occur on February 9, 2011 at or about 8:00 a.m.,
Los Angeles time (unless another time or date shall be agreed upon by the Company and the Investor)
(the date of the Closing being referred to herein as, the “Closing Date”). At the Closing,
(i) the Investor shall pay its Purchase Price to the Company for the Shares to be issued and sold
to such Investor at the Closing, by wire transfer of immediately available funds in accordance with
the Company’s written wire instructions, and (ii) upon confirmation of receipt of such wire, unless
otherwise requested by the Investor and agreed to by the Company, the Shares purchased by the
Investor will be delivered by electronic book-entry at The Depository Trust Company
(“DTC”), registered in the Investor’s name and address as set forth on Exhibit A
and will be released by Registrar and Transfer Company, the Company’s transfer agent (the
“Transfer Agent”), to the Investor at the Closing. After the execution of this Agreement by
the Investor, the Investor shall direct the broker-dealer at which the account or accounts to be
credited with the Shares are maintained to set up a deposit/withdrawal at custodian
(“DWAC”) instructing the Transfer Agent to credit such account or accounts with the Shares.
The Shares shall be free of restrictive legends.

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     3. The Company has delivered to the Investor and shall file with the Commission a prospectus
and prospectus supplement (collectively the “Prospectus”), which form a part of the
Registration Statement, reflecting the offering of the Shares in conformity with the Act, including
Rule 424(b) thereunder. The Investor agrees that such Prospectus may be delivered to it in
electronic form.

     4. The offering and sale of the Shares are being made pursuant to the Registration Statement
and the Prospectus. The Investor acknowledges that the Company intends to enter into agreements
with certain other investors on substantially the same form of this Agreement (and at the same
price per share) on or about the date hereof covering (including the Shares being issued hereunder)
up to a total of Five Million Four Hundred Forty Three Thousand (5,443,000) shares of Common Stock
(the “Offering”) pursuant to the Registration Statement and the Prospectus.

     5. The Company hereby makes the following representations, warranties and covenants to the
Investor:

          (a) The Company is an entity duly incorporated, validly existing and in good standing under
the laws of the state of Delaware, with the requisite power and authority to own and use its
properties and assets and to carry on its business as currently conducted. The Company has the
requisite corporate power and authority to enter into and to consummate the transactions
contemplated by this Agreement and otherwise to carry out its obligations hereunder. The execution
and delivery of this Agreement by the Company and the issuance of the Shares have been duly
authorized by all necessary action on the part of the Company and no further consent or action is
required by the Company, its board of directors or its shareholders. This Agreement has been (or
upon delivery will be) duly executed by the Company and, when delivered in accordance with the
terms hereof, will constitute the valid and binding obligation of the Company enforceable against
the Company in accordance with its terms, except as may be limited by any bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance or other similar laws affecting the enforcement
of creditors’ rights generally or by general principles of equity.

          (b) The execution, delivery and performance of this Agreement by the Company and the
consummation by the Company of the transactions contemplated hereby do not and will not (i)
conflict with or violate any provision of the Company’s certificate of incorporation or bylaws,
(ii) subject to obtaining the Required Approvals (as defined below), conflict with, or constitute a
default (or an event that with notice or lapse of time or both would become a default) under, or
give to others any rights of termination, amendment, acceleration or cancellation (with or without
notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument
(evidencing a Company debt or otherwise) or other understanding to which the Company is a party or
by which any property or asset of the Company is bound or affected, or (iii) result in a violation
of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court
or governmental authority to which the Company is subject (including federal and state securities
laws and regulations) and the rules and regulations of any self-regulatory organization to which
the Company or its securities are subject, or by which any property or asset of the Company is
bound or affected except in each case of clause (ii) or (iii) such as would not, individually or in
the aggregate, have a material adverse effect on the business, properties,

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financial condition or results of operations of the Company as set forth in the Registration
Statement and the Prospectus (exclusive of any amendments or supplements thereto subsequent to the
Closing Date) or materially impair the Company’s ability to perform its obligations under this
Agreement (a “Material Adverse Effect”).

          (c) The Company is not required to obtain any consent, waiver, authorization or order of, give
any notice to, or make any filing or registration with, any court or other federal, state, local or
other governmental authority or other person in connection with the execution, delivery and
performance by the Company of this Agreement, other than (i) the required filing of the Prospectus
and the Registration Statement, (ii) applicable state securities law filings, (iii) the required
filings with the NASDAQ Stock Market (the “Trading Market”), and (iv) in all other cases,
where the failure to obtain such consent, waiver, authorization or order, or to give such notice or
make such filing or registration would not have a Material Adverse Effect (clauses (i), (ii) and
(iii) collectively, the “Required Approvals”). The Company has obtained all the Required
Approvals, except for those which will be obtained in the ordinary course prior to the Closing.

          (d) The Shares are duly authorized and, when issued and paid for in accordance with the terms
hereof, will be duly and validly issued, fully paid and nonassessable, free and clear of all liens,
encumbrances and rights of first refusal, and conform to the description of Common Stock contained
in the Prospectus. The Company has reserved a sufficient number of duly authorized shares of common
stock to issue all of the Shares. At the Closing, the Shares shall have been approved for quotation
on the Trading Market.

          (e) The Registration Statement (including any prospectus and prospectus supplement and all
information or documents incorporated by reference therein) was declared effective by the
Commission on February 13, 2008. The Registration Statement is effective on the date hereof and no
order preventing or suspending the use of the Registration Statement or any Prospectus has been or,
to the Company’s knowledge, is intended to be issued by the Commission. The term “Registration
Statement” as used in this Agreement means the Registration Statement at the time it became
effective and as supplemented or amended from time to time, including all financial schedules and
exhibits thereto and all documents incorporated by reference or deemed to be incorporated by
reference therein. The Registration Statement, as of the time it was declared effective, and any
amendments or supplements thereto as of the effective date thereof, and any prospectus included
therein complied, and the Prospectus complies, as of the applicable filing date thereof, in all
material respects with the requirements of the Act, and none of such Registration Statement nor any
such Prospectus, nor any report, schedule, form or statement filed by the Company under the
Securities Exchange Act of 1934 (the “Exchange Act”) pursuant to Sections 13(a) or 15(d)
thereunder and incorporated into the Prospectus, contains or, at the time of filing with the
Commission contained, any untrue statement of material fact or omits or, at the time of filing with
the Commission, omitted to state any material fact required to be stated therein or necessary to
make the statements therein, in the light of the circumstances under which they were made, not
misleading. The offering, sale and issuance of the Shares to the Investor are registered under the
Act by the Registration Statement, and no action taken or omitted to be taken by the Company shall
cause such Shares not to be freely transferable and tradable by the Investor without restriction.
The Company is eligible to use Form S-3 under the Act for the

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registration of the issuance and sale of the Shares. The Shares are being issued as described in
the Registration Statement.

          (f) The Company has not, in the twelve (12) months preceding the date hereof, received notice
from the Trading Market to the effect that the Company is not in compliance with the listing or
maintenance requirements thereof. The Company is, and has no reason to believe that it will not in
the foreseeable future continue to be, in material compliance with the listing and maintenance
requirements for continued trading of the Common Stock on the Trading Market. The issuance and sale
of the Shares hereunder complies in all material respects with the rules or regulations of the
Trading Market.

          (g) During the 30 days prior to the date hereof, the Company has not, and to its knowledge no
one acting on its behalf has, (i) taken, directly or indirectly, any action designed to cause or to
result in the stabilization or manipulation of the price of any security of the Company to
facilitate the sale or resale of any of the Common Stock, (ii) sold, bid for, purchased, or, paid
any compensation for soliciting purchases of, any of the Common Stock, or (iii) paid or agreed to
pay to any person any compensation for soliciting another to purchase any other securities of the
Company, other than, in the case of clauses (ii) and (iii), compensation paid to MDB Capital Group
LLC (the “Placement Agent”) in connection with the placement of the Common Stock.

     6. The Investor hereby makes the following representations, warranties and covenants to the
Company:

          (a) The Investor is purchasing the Shares for its own account, in the ordinary course of its
business and the Investor has no arrangement with any person to participate in the distribution of
the Shares. The Investor represents and warrants to, and covenants with, the Company that (i) the
Investor is knowledgeable, sophisticated and experienced in making, and is qualified to make
decisions with respect to, investments in shares presenting an investment decision like that
involved in the purchase of the Shares, including investments in securities issued by the Company
and investments in comparable companies, and has requested, received, reviewed and considered all
information it deemed relevant in making an informed decision to purchase the Shares, (ii) the
Investor has answered all questions in the Investor Questionnaire attached as Exhibit A and
the answers thereto are true and correct as of the date hereof and will be true and correct as of
the Closing Date and (iii) the Investor, in connection with its decision to purchase the Shares,
has reviewed the Prospectus and is relying only upon the Prospectus and the documents incorporated
by reference therein and the representations and warranties of the Company contained herein.

          (b) The Investor represents that, except as set forth in response to Question 1 on Exhibit
A hereof, (i) it has had no position, office or other material relationship within the past
three years with the Company or persons known to it to be affiliates of the Company, (ii) it is
not, and as of the Closing will not be, a member of the Financial Industry Regulatory Authority or
an “associated person” (as such term is defined under the NASD Membership and Registration Rules
Section 1011), and (iii) neither the Investor nor any group of Investors (as identified in a public
filing made with the SEC) of which the Investor is a part in connection with the Offering,
acquired, or obtained the right to acquire, 20% or more of the Common Stock (or securities

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convertible into or exercisable for Common Stock) or the voting power of the Company on a
post-transaction basis.

          (c) The Investor, together with its affiliates (as that term is defined under Rule 405 of the
Act) represents, warrants and agrees that, since the earlier to occur of (i) the date on which the
Placement Agent first contacted such Investor about the Offering and (ii) the date of this
Agreement, it has not engaged in any transactions in the securities of the Company in violation of
securities laws (including, without limitation, any short sales involving the Company’s
securities). The Investor covenants that it will not engage in any transactions in the securities
of the Company (including short sales) prior to the time that the transactions contemplated by this
Agreement are publicly disclosed. For purposes hereof, “short sales” include, without limitation,
all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act,
whether or not against the box, and all types of direct and indirect stock pledges, forward sales
contracts, options, puts, calls, short sales, swaps, “put equivalent positions” (as defined in Rule
16a-1(h) under the Exchange Act) and similar arrangements (including on a total return basis), and
sales and other transactions through non-US broker dealers or foreign regulated brokers. The
Investor has maintained the confidentiality of all disclosures made to it in connection with this
transaction (including the existence and terms of this transaction).

          (d) The Investor shall not issue any press release or make any other public announcement
relating to this Agreement unless (i) the content thereof is mutually agreed to by the Company and
the Investor, or (ii) the Investor is advised by its counsel that such press release or public
announcement is required by law. The Investor will timely make all required filings and disclosures
relating to the Investor’s purchase of the Shares as may be required under the Exchange Act, if
any.

          (e) The Investor has the requisite power and authority to enter into and to consummate the
transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder.
The execution and delivery of this Agreement by the Investor and the consummation by it of the
transactions contemplated hereunder have been duly authorized by all necessary action on the part
of the Investor. This Agreement has been duly executed by the Investor and, when delivered in
accordance with the terms hereof, will constitute the valid and binding obligation of the Investor
enforceable against the Investor in accordance with its terms, except as may be limited by any
bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other similar laws
affecting the enforcement of creditors’ rights generally or by general principles of equity.

          (f) The Investor understands that nothing in this Agreement or any other materials presented
to the Investor in connection with the purchase or sale of the Shares constitutes legal, tax or
investment advice. The Investor has consulted such legal, tax or investment advisors as it, in its
sole discretion, deems necessary or appropriate in connection with its purchase of the Shares.

          (g) The Investor hereby acknowledges that it is acting independently from any other investor
(and has engaged separate legal counsel) in connection with the Offering, and that it is

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not acting as a member of a “group” (as such term is defined in Rule 13d of the Exchange Act) with
any other investor in connection with the Offering.

          (h) The Investor hereby acknowledges that the Company will pay a placement agent fee to the
Placement Agent of six percent (6%) of the gross proceeds of the Offering.

     7. Subject to the provisions of this Section 7, the Company will indemnify and hold the
Investor and its directors, officers, shareholders, partners, members, employees and agents (each,
an “Investor Party”) harmless from any and all losses, liabilities, obligations, claims,
contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements,
court costs and reasonable attorneys’ fees and costs of investigation that any such Investor Party
may suffer or incur (the “Indemnified Liabilities”) as a result of or relating to any
breach of any of the representations, warranties, covenants or agreements made by the Company in
this Agreement. The Company shall not be liable to any Investor under this provision in respect of
any Indemnified Liability if such liability arises out of any misrepresentation by the Investor in
Section 6 of this Agreement or actions taken by such Investor otherwise than as explicitly set
forth herein. To the extent that the foregoing undertaking by the Company may be unenforceable for
any reason, the Company shall make the maximum contribution to the payment and satisfaction of each
of the Indemnified Liabilities which is permissible under applicable law. If any action shall be
brought against any Investor Party in respect of which indemnity may be sought pursuant to this
Agreement, such Investor Party shall promptly notify the Company in writing, and the Company shall
have the right to assume the defense thereof with counsel of its own choosing. Any Investor Party
shall have the right to employ separate counsel in any such action and participate in the defense
thereof (it being understood, however, that the Company shall not be liable for the expenses of
more than one separate counsel (other than local counsel), reasonably approved by the Company), but
the fees and expenses of such counsel shall be at the expense of such Investor Party except to the
extent that (i) the employment thereof has been specifically authorized by the Company in writing,
(ii) the Company has failed after a reasonable period of time to assume such defense and to employ
counsel or (iii) in such action there is, in the reasonable opinion of such separate counsel, a
material conflict on any material issue between the position of the Company and the position of
such Investor Party. The Company will not be liable to any Investor Party under this Section 7 for
any settlement by an Investor Party effected without the Company’s prior written consent, which
shall not be unreasonably withheld or delayed.

     8. The Company shall, by 9:00 a.m. (New York City time) on the day immediately following the
date hereof, issue a press release, disclosing the material terms of the transactions contemplated
hereby.

     9. Notwithstanding any investigation made by any party to this Agreement or by the Placement
Agent, all covenants, agreements, representations and warranties made by the Investor herein will
survive the execution of this Agreement, the delivery to the Investor of the Shares being purchased
and the payment therefor. The Placement Agent shall be a third party beneficiary with respect to
covenants, agreements, representations and warranties of the Investor contained in this Agreement.

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     10. This Agreement shall be governed by, and construed in accordance with, the internal laws
of the State of New York, without giving effect to the principles of conflicts of law.

     11. The Company confirms that its has not provided Investor, in the course of its review of
the Company, with any information that the Company believes constitutes material non-public
information.

     12. This Agreement may be executed in two or more counterparts, each of which shall constitute
an original, but all of which, when taken together, shall constitute but one instrument, and shall
become effective when one or more counterparts have been signed by each party hereto and delivered
to the other parties.

[Signature Page Follows]

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     IN WITNESS WHEREOF, the Investor and the Company have caused this Common Stock Purchase
Agreement to be duly executed as of the date first written above.

	 	 	 	 	 
	 	“COMPANY”

SUPERCONDUCTOR TECHNOLOGIES INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Jeffrey A. Quiram 	 
	 	 	Title:  	President and CEO 	 
	 

	 	 	 	 	 
	 	“INVESTOR”
 	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Common Stock Purchase Agreement

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EXHIBIT A

SUPERCONDUCTOR TECHNOLOGIES INC.

INVESTOR QUESTIONNAIRE

          Pursuant to Section 6 of the Agreement, please provide us with the following information:

	1.	 	Exceptions to the representations and warranties made in Section 6(b) (If no
exceptions, write “none.” If left blank, response will be deemed to be
“none.”):
	 
	2.	 	The exact name that your Shares are to be registered in. You may use a nominee
if appropriate:
	 
	3.	 	The relationship between the Investor and the registered holder listed in
response to item 2 above (if not the same person):
	 
	4.	 	The mailing address of the registered holder listed in response to item 2 above:
	 
	5.	 	The Social Security Number or Tax Identification Number of the registered
holder listed in response to item 2 above:
	 
	6.	 	Name of DTC Participant (broker-dealer at which the account or accounts to be
credited with the Shares are maintained); please include the name and telephone
number of the contact person at the broker-dealer:
	 
	7.	 	DTC Participant Number:
	 
	8.	 	Name of Account at DTC Participant being credited with the Shares:

Exhibit A to Common Stock Purchase Agreement

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Exhibit 4.7

 

 

 

 

Date 30 June 2010

CAPITAL PRODUCT PARTNERS L.P.

as Borrower

- and -

THE BANKS AND FINANCIAL INSTITUTIONS

listed in Schedule 1

as Lenders

- and -

HSH NORDBANK AG

as Agent and Security Trustee

- and -

HSH NORDBANK AG

as Bookrunner

- and -

HSH NORDBANK AG

as Swap Bank

_______________________________________

SIXTH SUPPLEMENTAL AGREEMENT

_______________________________________

in relation to a Loan Agreement dated 22 March 2007

(as amended and supplemented by supplemental agreements dated, respectively,

19 September 2007, 11 June 2008, 7 April 2009, 8 April 2009 and 2 October 2009)

in respect of revolving credit and term loan facilities

of (originally) US$370,000,000 in aggregate

 

WATSON, FARLEY & WILLIAMS

Piraeus

 

 

 

 

 

  

 

  

 

 

 

INDEX

	Clause	 	Page
	 	 	 
	
1

	
INTERPRETATION

	
1

	
2

	
AGREEMENT OF THE CREDITOR PARTIES

	
3

	
3

	
CONDITIONS PRECEDENT

	
3

	
4

	
REPRESENTATIONS AND WARRANTIES

	
5

	
5

	
AMENDMENTS TO LOAN AGREEMENT AND OTHER FINANCE DOCUMENTS

	
5

	
6

	
FURTHER ASSURANCES

	
6

	
7

	
FEES AND EXPENSES

	
6

	
8

	
COMMUNICATIONS

	
7

	
9

	
SUPPLEMENTAL

	
7

	
10

	
LAW AND JURISDICTION

	
7

	SCHEDULE   LENDERS 	8 
	EXECUTION PAGES 	9  

 

 

 

 

  

 

  

THIS AGREEMENT is made on 30 June 2010

BETWEEN

	
(1)

	
CAPITAL PRODUCT PARTNERS L.P.  as Borrower;

 

	
(2)

	
THE BANKS AND FINANCIAL INSTITUTIONS  listed in Schedule 1 herein, as Lenders;

 

	
(3)

	
HSH NORDBANK AG, acting through its office at Gerhart-Hauptmann-Platz 50, D-20095 Hamburg, Germany as Agent;

 

	
(4)

	
HSH NORDBANK AG, acting through its office at Gerhart-Hauptmann-Platz 50, D-20095 Hamburg, Germany, as Security Trustee;

 

	
(5)

	
HSH NORDBANK AG, acting through its office at Gerhart-Hauptmann-Platz 50, D-20095 Hamburg, Germany, as Bookrunner; and

 

	
(6)

	
HSH NORDBANK AG, acting through its office at Martensdamm 6, D-24103 Kiel, Germany as Swap Bank.

 

BACKGROUND

 

	
(A)

	
By a loan agreement dated 22 March 2007 (as amended and supplemented by supplemental agreements dated, respectively, 19 September 2007, 11 June 2008, 7 April 2009, 8 April 2009 and 2 October 2009, the “Loan Agreement”) and made between (i) the Borrower, (ii) the Lenders, (iii) the Agent, (iv) the Security Trustee, (v) the Bookrunner and (vi) the Swap Bank, the Lenders agreed to make available to the Borrower revolving credit and term loan facilities in an amount of (originally) US$370,000,000 in aggregate of which an amount of US$366,500,000 is on the date hereof outstanding by way of principal.

 

	
(B)

	
The Borrower has requested that the Lenders agree to:

 

	
  

	
(i)

	
the addition of each of Forbes Maritime Co. and Adrian Shipholding Inc. as a Security Party for the purposes of the Loan Agreement; and

 

	
  

	
(ii)

	
the granting and/or registration of certain security over and/or in respect of m.t. “ARISTOFANIS” and m.t. “ALKIVIADIS owned by Forbes Maritime Co. and Adrian Shipholding Inc. respectively in favour of the Security Trustee.

 

	
(C)

	
This Agreement sets out the terms and conditions on which the Creditor Parties agree, with effect on and from the Effective Date, to the Borrower’s requests and to carry out the consequential amendments to the Loan Agreement.

 

IT IS AGREED as follows:

	
1

	
INTERPRETATION

 

	
1.1

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

 

	
1.2

	
Definitions.  In this Agreement, unless the contrary intention appears:

 

“Adrian” means Adrian Shipholding Inc., a corporation incorporated and existing in the Republic of the Marshall Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro MH96960, The Marshall Islands;

 

“ALKIVIADIS” means the 2006-built chemical oil double hull product tanker of approximately 37,000 deadweight tons registered in the ownership of Adrian under the Marshall Islands flag with the name “ALKIVIADIS”;

 

 

 

 

 

  

 

  

 

 

“ARISTOFANIS”  means the 2005-built chemical oil double hull product tanker of approximately 12,000 deadweight tons registered in the ownership of Forbes under the Liberian flag with the name “ARISTOFANIS”;

“Effective Date” means the date on which the conditions precedent in Clause 3 are satisfied;

“Forbes” means Forbes Maritime Co., a corporation incorporated and existing in the Republic of the Marshall Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro MH96960, The Marshall Islands.

“New Charterparty Assignment”  means, in respect of any Charterparty for each New Ship, a first priority assignment thereof executed or to be executed by the New Owner owning that New Ship in favour of the Security Trustee in such form as the Lenders may approve or require and, in the plural, means both of them;

 

	
  

	
“New Earnings Account” means, in respect of each New Owner,  an account opened or to be opened in the name of that New Owner with the Agent in Hamburg designated “[name of New Owner] - Earnings Account”, or any other account (with that or another office of the Agent) which is designated by the Agent as the Earnings Account for that New Ship for the purposes of the Loan Agreement and, in the plural, means both of them;

	
  

	
“New Earnings Account Pledge”  means, in respect of each New Earnings Account the first priority pledge of that New Earnings Account to be executed by the relevant New Owner in favour of the Lenders in such form as the Lenders may approve or require and, in the plural, means both of them;

	
  

	
“New Finance Documents” means, together, the New Guarantees, the New Mortgages, the New General Assignments, any New Charterparty Assignments, the New Manager’s Undertakings and the New Earnings Account Pledges and, in the singular, means any of them;

	
  

	
“New General Assignment” means, in respect of each New Ship, a first priority general assignment of the Earnings, Insurances and Requisition Compensation in respect thereof  executed or to be executed by the New Owner owning that New Ship in favour of the Security Trustee in such form as the Lenders may approve or require and, in the plural, means both of them;

	
  

	
“New Guarantee”  means, in respect of each New Owner,  the guarantee of the obligations of the Borrower under the Loan Agreement and the other Finance Documents executed or to be executed by that New Owner in favour of the Security Trustee in such form as the Lenders may approve or require and, in the plural, means both of them;

	
  

	
“New Manager’s Undertaking”  means, in respect of each New Ship, a letter of undertaking executed or to be executed by the Approved Manager in favour of the Security Trustee in the terms required by the Security Trustee agreeing certain matters in relation to the Approved Manager serving as the manager of that New Ship and subordinating the rights of the Approved Manager against that New Ship and the New Owner thereof to the rights of the Creditor Parties under the Finance Documents, in such form as the Lenders, may approve or require and, in the plural, means both of them;

	
  

	
“New Mortgage” means:

	
 

	
(a)

	
in respect of each “ARISTOFANIS”, the first preferred Liberian mortgage; and

 

 

 

  

2

  

 

 

	
  

	
(b)

	
on respect of “ALKIVIADIS”, the first preferred Marshall Islands mortgage,

each executed or to be executed by the relevant New Owner in favour of the Security Trustee in such form as the Lenders may approve or require and, in the plural, means both of them;

	
  

	
“New Owner” means each of Adrian and Forbes and, in the plural, means both of them; and

	
  

	
“New Ship” means each of “ALKIVIADIS” and “ARISTOFANIS” and, in the plural, means both of them.

	
1.3

	
Application of construction and interpretation provisions of Loan Agreement.  Clauses 1.2 and 1.5 of the Loan Agreement apply, with any necessary modifications, to this Agreement.

 

	
2

	
AGREEMENT OF THE CREDITOR PARTIES

 

	
2.1

	
Agreement of the Lenders.  The Lenders agree, subject to and upon the terms and conditions of this Agreement to the:

 

	
(a)

	
addition of each New Owner as a Security Party for the purposes of the Loan Agreement; and

 

	
(b)

	
granting and/or registration of certain security by each New Owner including, without limitation, security over the New Ship owned by it (constituted by the relevant New Finance Documents) in favour of the Security Trustee.

 

	
2.2

	
Agreement of the Creditor Parties.  The Creditor Parties agree, subject to and upon the terms and conditions of this Agreement, to the consequential amendment of the Loan Agreement and the other Finance Documents in connection with the matters referred to in Clause 2.1.

 

	
2.3

	
Effective Date. The agreement of the Lenders and the other Creditor Parties contained in Clauses 2.1 and 2.2 shall have effect on and from the Effective Date.

 

	
3

	
CONDITIONS PRECEDENT

 

	
3.1

	
General.  The agreement of the Lenders and the other Creditor Parties contained in Clauses 2.1 and 2.2 is subject to the fulfilment of the conditions precedent in Clause 3.2.

 

	
3.2

	
Conditions precedent.  The conditions referred to in Clause 3.1 are that the Agent shall have received the following documents and evidence in all respects in form and substance satisfactory to the Agent and its lawyers on or before the Effective Date:

 

	
(a)

	
documents of the kind specified in paragraphs 3, 4 and 5 of Schedule 3, Part A to the Loan Agreement in relation to the Borrower in connection with the execution of this Agreement, updated with appropriate modifications to refer to this Agreement;

 

	
(b)

	
a certificate of an officer of each New Owner confirming the names of all its directors and shareholders and having attached thereto true and complete copies of its incorporation and constitutional documents;

 

	
(c)

	
true and complete copies of the resolutions passed at separate meetings of the directors and shareholders of each New Owner authorising and approving the execution of each New Finance Document to which it is a party and authorising its directors or other representatives to execute the same on its behalf;

 

 

 

  

3

  

 

 

 

	
(d)

	
the original of any power of attorney issued by each New Owner pursuant to such resolutions aforesaid;

 

	
(e)

	
evidence that each New Ship is:

 

	
  

	
(i)

	
registered in the name of the relevant New Owner under the laws and flag of:

 

	
  

	
(A)

	
in the case of “ALKIVIADIS, the Republic of the Marshall Islands; and

 

	
  

	
(B)

	
in the case of “ARISTOFANIS”, the Republic of Liberia; and

 

	
  

	
(i)

	
insured in accordance with the relevant provisions of the Loan Agreement and/or the relevant New Mortgage and all requirements thereof in respect of such insurances have been fulfilled;

 

	
(f)

	
each New Finance Document has been duly executed by the relevant New Owner together with evidence that:

 

	
  

	
(i)

	
each New Mortgage has been registered against the relevant New Ship with first priority in accordance with the laws of:

 

(A)           in the case of “ALKIVIADIS, the Republic of the Marshall Islands; and

 

(B)           in the case of “ARISTOFANIS”, the Republic of Liberia;

 

	
  

	
(ii)

	
all notices required to be served under the relevant New General Assignment and any New Charterparty Assignment to which that New Owner is a party have been served and acknowledged in the manner therein provided; and

 

	
  

	
(iii)

	
save for the Security Interests created by or pursuant to the New Mortgages, the New General Assignments and any Charterparty Assignments, there are no Security Interests of any kind whatsoever on the New Ships or their Earnings, Insurances or Requisition Compensation;

 

	
(g)

	
a certified true copy of any Charterparty entered into in respect of either New Ship duly signed by the parties thereto;

 

	
(h)

	
evidence that each New Earnings Account has been opened and all mandate forms and all, documentation required by each Creditor Party in relation to the relevant New Owner pursuant to that Creditor Party’s “know your customer” requirements have been received;

 

	
(i)

	
a true and complete copy of the management agreement in respect of each New Ship;

 

	
(j)

	
the New Manager’s Undertakings executed by the Approved Manager in favour of the Security Trustee;

 

	
(k)

	
evidence that each New Owner is a direct or indirect wholly-owned subsidiary of the Borrower;

 

	
(l)

	
copies of ISM DOC, SMC and the International Ship Security Certificate under the ISPS Code in respect of each New Ship;

 

	
(m)

	
certified copies of all documents (with a certified translation if an original is not in English) evidencing any other necessary action, approvals or consents with respect to this Agreement and the New Finance Documents (including without limitation) all necessary governmental and other official approvals and consents in such pertinent jurisdictions as the Agent deems appropriate;

 

 

 

 

  

4

  

 

 

 

	
(n)

	
such legal opinions as the Agent may require in respect of the matters contained in this Agreement and the New Finance Documents; and

 

	
(o)

	evidence that the agent referred to in clause 30.4 of the Loan Agreement has accepted its appointment as agent for service of process under this Agreement and the New Finance Documents.

 

	
2

	
REPRESENTATIONS AND WARRANTIES

 

	
2.1

	
Repetition of Loan Agreement representations and warranties.  The Borrower represents and warrants to the Creditor Parties that the representations and warranties in clause 10 of the Loan Agreement remain true and not misleading if repeated on the date of this Agreement.

 

	
2.2

	
Repetition of Finance Document representations and warranties.  The Borrower and each of the other Security Parties represents and warrants to the Creditor Parties that the representations and warranties in the Finance Documents (other than the Loan Agreement) to which it is a party remain true and not misleading if repeated on the date of this Agreement.

 

	
3

	
AMENDMENTS TO LOAN AGREEMENT AND OTHER FINANCE DOCUMENTS

 

	
3.1

	
Specific amendments to Loan Agreement.  With effect on and from the Effective Date the Loan Agreement shall be amended as follows:

 

	
(a)

	
by inserting in clause 1.1 thereof the definitions of “Adrian”, “ALKIVIADIS”,“ARISTOFANIS” and “Forbes” set out in Clause 1.2;

 

	
(b)

	
by adding the words ““ALKIVIADIS”, ARISTOFANIS, ” after the words “Existing Ships, ” in the second line of the definition of “Ships” in clause 1.1 thereof;

 

	
(c)

	
in the definition of “Owner” in clause 1.1 thereof by:

 

	
  

	
(A)

	
inserting the following new sub-paragraphs (j) and (k):

 

“(j)            “ALKIVIADIS”, Adrian;

 

(k)            “ARISTOFANIS”, Forbes”; and

 

	
  

	
(B)

	
redesignating the existing sub-paragraphs (j), (k), (l), (m) and (n) as (l), (m), (n), (o) and (r) respectively;

 

	
(d)

	
by construing all references therein to “this Agreement” where the context admits as being references to “this Agreement as the same is amended and supplemented by this Agreement and as the same may from time to time be further supplemented and/or amended”; and

 

	
(e)

	
by construing references to each of the Finance Documents as being references to each such document as it is from time to time supplemented and/or amended.

 

 

 

  

5

  

 

 

 

	
3.2

	
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 Agreement to have been, 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 Agreement; 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 Agreement.

 

	
3.3

	
Finance Documents to remain in full force and effect.  The Finance Documents shall remain in full force and effect as amended and supplemented by:

 

	
(a)

	
the amendments to the Finance Documents contained or referred to in Clauses 5.1 and 5.2; and

 

	
(b)

	
such further or consequential modifications as may be necessary to give full effect to the terms of this Agreement.

 

	
4

	
FURTHER ASSURANCES

 

	
4.1

	
Borrower’s and each Security Party’s obligation to execute further documents etc. The Borrower and each Security Party shall:

 

	
(a)

	
execute and deliver to the Security Trustee (or as it may direct) any assignment, mortgage, power of attorney, proxy or other document, governed by the law of England or such other country as the Security Trustee may, in any particular case, specify;

 

	
(b)

	
effect any registration or notarisation, give any notice or take any other step,

 

	
  

	
which the Agent may, by notice to the Borrower, specify for any of the purposes described in Clause 6.2 or for any similar or related purpose.

 

	
4.2

	
Purposes of further assurances.  Those purposes are:

 

	
(a)

	
validly and effectively to create any Security Interest or right of any kind which the Security Trustee intended should be created by or pursuant to the Loan Agreement or any other Finance Document, each as amended and supplemented by this Agreement, and

 

	
(b)

	
implementing the terms and provisions of this Agreement.

 

	
4.3

	
Terms of further assurances.  The Security Trustee may specify the terms of any document to be executed by the Borrower or any Security Party under Clause 6.1, and those terms may include any covenants, powers and provisions which the Security Trustee considers appropriate to protect its interests.

 

	
4.4

	
Obligation to comply with notice.  The Borrower or any Security Party shall comply with a notice under Clause 6.1 by the date specified in the notice.

 

	
5

	
EXPENSES

 

	
5.1

	
Expenses.  The provisions of clause 20 (fees and expenses) of the Loan Agreement shall apply to this Agreement as if they were expressly incorporated in this Agreement with any necessary modifications.

 

 

 

 

  

6

  

 

 

 

	
6

	
COMMUNICATIONS

 

	
6.1

	
General.  The provisions of clause 28 (notices) of the Loan Agreement, as amended and supplemented by this Agreement, shall apply to this Agreement as if they were expressly incorporated in this Agreement with any necessary modifications.

 

	
7

	
SUPPLEMENTAL

 

	
7.1

	
Counterparts.  This Agreement may be executed in any number of counterparts.

 

	
7.2

	
Third Party rights.  A person who is not a party to this 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 Agreement.

 

	
8

	
LAW AND JURISDICTION

 

	
8.1

	
Governing law.  This Agreement shall be governed by and construed in accordance with English law.

 

	
8.2

	
Incorporation of the Loan Agreement provisions.  The provisions of clause 30 (law and jurisdiction) of the Loan Agreement, as amended and supplemented by this Agreement, shall apply to this Agreement as if they were expressly incorporated in this Agreement with any necessary modifications.

 

THIS AGREEMENT has been duly executed as a Deed on the date stated at the beginning of this Agreement.

 

 

 

 

  

7

  

 

 

SCHEDULE

 

LENDERS

 

	
Lender

	
Lending Office

	  	  
	
 

HSH Nordbank AG

 

	
 

Gerhart-Hauptmann-Platz 50

20095 Hamburg

Germany

 

Fax No: +49 40 33 33 34118

 

	  	  
	
 

Alpha Bank A.E.

	
 

Akti Miaouli 89

185 38 Piraeus

Greece

 

Fax No: +30 210 429 0348

 

	  	  
	
 

Deutsche Schiffsbank AG

 

	
 

Domshof 17

D-28195 Bremen

 

Fax No: +49 421 3609293

 

	  	  
	
 

National Bank of Greece S.A.

 

	
 

Bouboulinas 2 & Akti Miaouli

185 35 Piraeus

 

Fax No: +30 210 414 4120

 

	  	  
	
BNPP Fortis

(previously known as Fortis Bank)

	
94 Vassilisis Sofias & 1 Kerassountos Street

115 28 Athens

Greece

 

	  	  

  

8

  

 

 

 

EXECUTION PAGES

 

	BORROWER	 
	 	 
	
SIGNED by

	
)

	
for and on behalf of

	
)

	
CAPITAL PRODUCT PARTNERS L.P.

	
)

	  	  
	  	  
	
LENDERS

	  
	  	  
	  	  
	
SIGNED by

	
)

	
for and on behalf of

	
)

	
HSH NORDBANK AG

	
)

	  	  
	  	  
	
SIGNED by

	
)

	
for and on behalf of

	
)

	
ALPHA BANK A.E.

	
)

	  	  
	  	  
	
SIGNED by

	
)

	
for and on behalf of

	
)

	
DEUTSCHE SCHIFFSBANK AG

	
)

	  	  
	  	  
	
SIGNED by

	
)

	
for and on behalf of

	
)

	
NATIONAL BANK OF GREECE S.A.

	
)

	  	  
	  	  
	
SIGNED by

	
)

	

for and on behalf of

	
)

	
FORTIS BANK

	
)

	  	  
	  	  
	  	  
	
SWAP BANK

	  
	  	  
	  	  
	
SIGNED BY

	
)

	

for and on behalf of

	
)

	
HSH NORDBANK AG

	
)

	  	  
	  	  
	  	  
	
BOOKRUNNER

	  
	  	  
	  	  
	
SIGNED by

	
)

	
for and on behalf of

	
)

	
HSH NORDBANK AG

	
)

	  	  

 

 

 

 

 

  

9

  

 

 

 

	  	  
	
AGENT

	  
	  	  
	  	  
	
SIGNED by

	
)

	
for and on behalf of

	
)

	
HSH NORDBANK AG

	
)

	  	  
	  	  
	
SECURITY TRUSTEE

	  
	  	  
	  	  
	
SIGNED by

	
)

	
for and on behalf of

	
)

	
HSH NORDBANK AG

	
)

	  	  
	  	  
	  	  
	
Witness to all the

	
)

	
above signatures

	
)

	  	  
	
Name:

	  
	
Address:

	  

 

Name:

Address:

 

 

 

 

  

10

  

 

 

 

COUNTERSIGNED  this day 30th of June 2010 for and on behalf of the following Security Parties each of which, by its execution hereof, confirms and acknowledges that it has read and understood the terms and conditions of this First Supplemental Agreement, that it agrees in all respects to the same and that the Finance Documents to which it is 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.

	 	 	 	 
	 	 	 	 
	
for and on behalf of

	  	
for and on behalf of

	  
	
APOLLONAS SHIPPING COMPANY

	  	
NAVARRO INTERNATIONAL S.A.

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	
for and on behalf of

	  	
for and on behalf of

	  
	
CARNATION SHIPPING COMPANY

	  	
CENTURION NAVIGATION LIMITED

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	
for and on behalf of

	  	
for and on behalf of

	  
	
IRAKLITOS SHIPPING COMPANY

	  	
POLARWIND MARITIME .S.A.

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	
for and on behalf of

	  	
for and on behalf of

	  
	
SHIPPING RIDER CO.

	  	
TEMPEST MARINE INC.

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	
for and on behalf of

	  	
for and on behalf of

	  
	
ROSS SHIPMANAGEMENT CO.

	  	
LAREDO MARITIME INC.

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	
for and on behalf of

	  	
for and on behalf of

	  
	
LORENZO SHIPMANAGEMENT INC.

	  	
SPLENDOR SHIPHOLDING S.A.

	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	  	  	  	  
	
for and on behalf of

	  	
for and on behalf of

	  
	
MANGO FINANCE CORP.

	  	
SORREL SHIPMANAGEMENT INC.

	  

 

 

 

 

11

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