Document:

sec document

                                                                    Exhibit 10.1

                      SECOND AMENDMENT TO CREDIT AGREEMENT

      THIS SECOND AMENDMENT (this  "AMENDMENT") dated as of January 29, 2007 and
effective in accordance with SECTION 3 below, is entered into by and among NUCO2
INC., as Borrower (the  "BORROWER"),  the lenders from time to time party to the
Credit Agreement referred to below (the "LENDERS") and BANK OF AMERICA, N.A., as
Administrative  Agent,  Swing Line  Lender and L/C Issuer  (the  "ADMINISTRATIVE
AGENT").

                              STATEMENT OF PURPOSE

      Pursuant to that  certain  Credit  Agreement  dated as of May 27, 2005 (as
amended,  restated,  supplemented or otherwise modified, the "CREDIT Agreement")
by and among the Borrower, the Lenders and the Administrative Agent, the Lenders
have  agreed  to make,  and have  made,  certain  extensions  of  credit  to the
Borrower.

      The Borrower has requested that the Lenders amend the Credit  Agreement as
provided  herein.  Subject to the terms and  conditions  set forth  herein,  the
Lenders are willing to consent to such amendment.

      NOW,  THEREFORE,  for good and  valuable  consideration,  the  receipt and
sufficiency of which are hereby acknowledged by the parties hereto, such parties
hereby agree as follows:

      SECTION 1. DEFINITIONS.  All capitalized terms used and not defined herein
shall have the meanings assigned thereto in the Credit Agreement.

      SECTION 2. AMENDMENTS.  (a) SECTION 1.01 of the Credit Agreement ("Defined
Terms") is hereby  amended by deleting the definition  for  "Consolidated  Fixed
Charge  Coverage  Ratio" and  substituting  in lieu  thereof the  following  new
definition, to read in its entirety as follows:

            "CONSOLIDATED  FIXED CHARGE COVERAGE RATIO" means, as of any date of
      determination,  the ratio of (a) Consolidated  EBITDAR minus taxes paid or
      payable in cash,  minus  dividends and other  distributions  paid in cash,
      minus amounts paid to  repurchase,  redeem or otherwise  acquire shares of
      the  Borrower's  Capital Stock for the period of the four fiscal  quarters
      most recently ended to (b) Consolidated Fixed Charges for such period.

      (b) SECTION 7.06 of the Credit  Agreement is hereby  amended by adding the
following subsection (f) thereto:

            (f) the Borrower may repurchase,  redeem or otherwise acquire shares
      of its Capital Stock from its stockholders;  provided, that (i) no Default
      or Event of Default shall exist or result therefrom, and (ii) after giving
      pro forma effect to any such payments,  the Borrower shall be in pro forma
      compliance with SECTION 7.11.

      SECTION 3.  EFFECTIVENESS.  This Amendment  shall become  effective on the
date that the  Administrative  Agent shall have received  satisfactory  evidence
that this Amendment has been duly executed and delivered by the Borrower and the
Lenders.

      SECTION 4. LIMITED EFFECT. Except as expressly provided in this Amendment,
the Credit  Agreement  and each other Loan  Document  shall  continue to be, and
shall remain, in full force and effect and this Amendment shall not be deemed or
otherwise  construed (a) to be a waiver of, or consent to or a  modification  or
amendment  of, any other term or condition of the Credit  Agreement or any other
Loan  Document,   (b)  to  prejudice  any  other  right  or  remedies  that  the
Administrative Agent or the Lenders, or any of them, may now have or may have in
the  future  under  or in  connection  with  the  Credit  Agreement  or the Loan
Documents, as such documents may be amended, restated or otherwise modified from
time to time, or (c) to be a commitment or any other  undertaking  or expression
of any willingness to engage in any further  discussion with the Borrower or any
other  person,  firm or  corporation  with  respect  to any  waiver,  amendment,
modification  or any other change to the Credit  Agreement or the Loan Documents
or any rights or remedies arising in favor of the Lenders or the  Administrative
Agent, or any of them,  under or with respect to any such documents.  References
in the Credit  Agreement  (including  references  to such  Credit  Agreement  as
amended  hereby)  to  "this   Agreement"   (and  indirect   references  such  as
"hereunder",  "hereby",  "herein" and  "hereof") and in any Loan Document to the
Credit  Agreement  shall be deemed to be references  to the Credit  Agreement as
amended hereby.

      SECTION 5.  REPRESENTATIONS  AND WARRANTIES/NO  DEFAULT.  By its execution
hereof, and after giving effect to this Amendment, the Borrower hereby certifies
that:

      (a) each of the  representations  and  warranties  set forth in the Credit
Agreement  and the other Loan  Documents  is true and  correct  in all  material
respects  as of the date  hereof  as if  fully  set  forth  herein  (other  than
representations and warranties which speak as of a specific date pursuant to the
Credit Agreement,  which representations and warranties shall have been true and
correct in all material  respects as of such specific  dates) and that as of the
date hereof no Default or Event of Default has occurred and is continuing, and

      (b) the  execution,  delivery and  performance of this Amendment have been
authorized by all requisite corporate action on the part of the Borrower.

      SECTION 6. ACKNOWLEDGEMENTS.  By its execution hereof, the Borrower hereby
expressly (a) consents to the  modifications  and  amendments  set forth in this
Amendment,  (b)  reaffirms  all of its  respective  covenants,  representations,
warranties  and other  obligations  set forth in each of the Loan  Documents  to
which  it is a party  and (c)  acknowledges,  represents  and  agrees  that  its
respective  covenants,  representations,  warranties and other  obligations  set
forth in each of the Loan  Documents to which it is a party remain in full force
and effect.

      SECTION 7. EXPENSES.  The Borrower shall pay all reasonable  out-of-pocket
expenses  of the  Administrative  Agent  in  connection  with  the  preparation,
execution and delivery of this Amendment,  including,  without  limitation,  the
reasonable and invoiced fees and disbursements of counsel for the Administrative
Agent.

      SECTION  8.  GOVERNING  LAW.  This  Amendment  shall  be  governed  by and
construed in accordance with the laws of the State of New York.

      SECTION 9.  COUNTERPARTS.  This  Amendment  may be  executed  in  separate
counterparts,  each of which when  executed and delivered is an original but all
of which taken together constitute one and the same instrument.

      SECTION 10. FAX TRANSMISSION. A facsimile,  telecopy or other reproduction
of this Amendment may be executed by one or more parties hereto, and an executed
copy  of this  Amendment  may be  delivered  by one or more  parties  hereto  by
facsimile or similar  instantaneous  electronic  transmission device pursuant to
which  the  signature  of or on  behalf  of such  party  can be  seen,  and such
execution and delivery shall be considered valid,  binding and effective for all
purposes.  At the  request of any party  hereto,  all  parties  hereto  agree to
execute an  original of this  Amendment  as well as any  facsimile,  telecopy or
other reproduction hereof.

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

                                    BORROWER:

                                    NUCO2 INC.

                                    By: /s/ Robert R. Galvin
                                        ----------------------------------------
                                    Name: Robert R. Galvin
                                    Title: CFO

                                    ADMINISTRATIVE AGENT:

                                    BANK OF AMERICA, N.A., as Administrative
                                    Agent

                                    By:  /s/ Michael Brashler
                                        ----------------------------------------
                                    Name:  Michael Brashler
                                    Title:  Vice President

                                    LENDER:

                                    BANK OF AMERICA, N.A., as a Lender, L/C
                                    Issuer and Swing Line Lender

                                    By:  /s/ Adam Kaplan
                                        ----------------------------------------
                                    Name:  Adam Kaplan
                                    Title:  Senior Vice PresidentEx 10.13 Sixth Amendment to Credit Agreement

    
      

    

     

    Exhibit
      10.13
 

     

    SIXTH
      AMENDMENT TO CREDIT AGREEMENT

     

    SIXTH
      AMENDMENT TO CREDIT AGREEMENT (this “Sixth
      Amendment”),
      dated
      as of February 7, 2007, among GENCO SHIPPING & TRADING LIMITED, a
      corporation organized under the laws of the Republic of Marshall Islands (the
      “Borrower”),
      the
      lenders party hereto (each, a “Lender”
and,
      collectively, the “Lenders”),
      and
      DnB NOR BANK ASA, NEW YORK BRANCH, as Administrative Agent (in such capacity,
      the “Administrative
      Agent”).
      Unless otherwise indicated, all capitalized terms used herein and not otherwise
      defined shall have the respective meanings provided such terms in the Credit
      Agreement referred to below.

     

    W
      I T
      N E S S E T H
      :

     

    WHEREAS,
      the Borrower, the Lenders from time to time party thereto, DnB NOR Bank ASA,
      New
      York Branch, Nordea Bank Finland plc, New York Branch and Citigroup Global
      Markets Limited, as Joint Lead Arrangers (in such capacity, the “Lead
      Arrangers”),
      Nordea Bank Finland plc, New York Branch and Citigroup Global Markets Limited,
      as Joint Book Runners (in such capacity, the “Joint
      Book Runners”),
      and
      the Administrative Agent are parties to a Credit Agreement, dated as of July
      15,
      2005 (as amended, modified and/or supplemented to, but not including, the date
      hereof, the “Credit
      Agreement”);
      and

     

    WHEREAS,
      subject to the terms and conditions of this Sixth Amendment, the parties hereto
      wish to amend certain provisions of the Credit Agreement, in each case as herein
      provided;

     

    NOW,
      THEREFORE, it is agreed:

     

    I.  Amendments
      to Credit Agreement.

     

    1.  Section
      1
      of the Credit Agreement is hereby amended by inserting the following new Section
      1.13: 

     

    “1.13 Incremental
      Commitments.
      (a)  So long as the Incremental Commitment Request Requirements are
      satisfied at the time of the delivery of the request, the Borrower shall have
      the right, with the consent of, and in coordination with, the Administrative
      Agent, but without requiring the consent of any of the Lenders (save as provided
      in Section 1.13(b) below), to request at any time and from time to time after
      the Closing Date and prior to the date as of the Total Commitments have been
      terminated, that one or more Lenders (and/or one or more other banks or
      financial institutions which are Eligible Transferees and are acceptable to
      each
      of the Administrative Agent and the Borrower and which will become Lenders
      as
      provided below) provide Incremental Commitments and, subject to the applicable
      terms and conditions contained in this Agreement, make Loans pursuant thereto;
      it being understood and agreed, however, that (i) no Lender shall be obligated
      to provide an Incremental Commitment as a result of any such request by the
      Borrower, and until such time, if any, as such Lender has agreed in its sole
      discretion to provide an Incremental Commitment and executed and delivered
      to
      the

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     Administrative
      Agent an Incremental Commitment Agreement in respect thereof as provided in
      Section 1.13(b), such Lender shall not be obligated to fund any Loans in excess
      of its Commitment as in effect prior to giving effect to such Incremental
      Commitment provided pursuant to Section 1.13(b) below, (ii) any Lender
      (including any Eligible Transferee who will become a Lender) may so provide
      an
      Incremental Commitment without the consent of any other Lender, (iii) each
      provision of Incremental Commitments on a given date pursuant to Section 1.13(b)
      below shall be in a minimum aggregate amount (for all Lenders (including any
      Eligible Transferee who will become a Lender)) of at least $25,000,000 and
      in
      integral multiples of $25,000,000 in excess thereof, (iv) the aggregate amount
      of all Incremental Commitments provided pursuant to Section 1.13(b) below,
      shall
      not exceed $100,000,000 and (v) all Loans made and Letters of Credit issued
      pursuant to Incremental Commitments (and all interest, fees and other amounts
      payable thereon) shall be Obligations under this Agreement and the other
      applicable Credit Documents.

     

    (b)  At
      the
      time of the provision of Incremental Commitments pursuant to this Section 1.13,
      the Borrower, the Administrative Agent and each such Lender or other Eligible
      Transferee which agrees to provide an Incremental Commitment (each, an
“Incremental
      Lender”)
      shall
      execute and deliver to the Administrative Agent an Incremental Commitment
      Agreement, with the effectiveness of such Incremental Lender’s Incremental
      Commitment to occur on the date (the “Incremental
      Loan Commitment Date”)
      set
      forth in such Incremental Commitment Agreement, which date in any event shall
      be
      no earlier than the date on which (w) all fees required to be paid in connection
      therewith at the time of such effectiveness shall have been paid (including,
      without limitation, any agreed upon up-front or arrangement fees owing to the
      Administrative Agent (or any affiliate thereof)), (x) all Incremental Loan
      Commitment Requirements are satisfied, (y) all other conditions set forth in
      this Section 1.13(b) shall have been satisfied, and (z) all other conditions
      precedent that may be set forth in such Incremental Commitment Agreement shall
      have been satisfied. The Administrative Agent shall promptly notify each Lender
      as to the effectiveness of each Incremental Commitment Agreement, and at such
      time, (i) the Commitments under, and for all purposes of, this Agreement shall
      be increased by the aggregate amount of such Incremental Commitments, (ii)
      Schedule
      I
      shall be
      deemed modified to reflect the revised Commitments of the affected Lenders
      and
      (iii) to the extent requested by any Incremental Lender, Notes will be issued,
      at the Borrower’s expense, to such Incremental Lender.

     

    (c)  At
      the
      time of any provision of Incremental Commitments pursuant to this Section 1.13,
      the Borrower shall, in coordination with the Administrative Agent, repay
      outstanding Loans of certain of the Lenders, and incur additional Loans from
      certain other Lenders (including the Incremental Lenders), in each case to
      the
      extent necessary so that all of the Lenders participate in each outstanding
      Borrowing of Loans pro
      rata
      on the
      basis of their respective Commitments (after giving effect to any increase
      in
      the Commitments pursuant to this Section 1.13 above) and with the Borrower
      being obligated to pay to the respective Lenders any costs of the type referred
      to in Section 1.09 herein in connection with any such repayment and/or
      Loans.”.

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

     

    2.  The
      definition of “Commitment” appearing in Section 11.01 of the Credit Agreement is
      hereby amended to read in its entirety as follows:

     

    “Commitment”
shall
      mean, for each Lender, the amount set forth opposite such Lender’s name in
      Schedule I hereto as same may be (x) reduced from time to time pursuant to
      Sections 3.02, 3.03, 4.02 and/or 10, (y) adjusted from time to time as a result
      of assignments to or from such Lender pursuant to Section 1.12 or 13.04 or
      (z)
      modified to reflect the revised Commitments of the affected Lenders as a result
      of Incremental Commitments pursuant to Section 1.13. 

     

    3.   Section
      11.01 of the Credit Agreement is hereby amended by inserting in the appropriate
      alphabetical order the following new definitions: 

     

    “Incremental
      Commitment”
shall
      mean, for any Lender, any commitment by such Lender pursuant to Section 1.13,
      as
      agreed to by such Lender in the respective Incremental Commitment Agreement;
      it
      being understood, however,
      that on
      each date upon which an Incremental Commitment of any Lender becomes effective,
      such Incremental Commitment of such Lender shall be added to (and thereafter
      become a part of) the Commitment of such Lender for all purposes of this
      Agreement as contemplated by Section 1.13.

     

    “Incremental
      Commitment Agreement”
shall
      mean an agreement substantially in the form of Exhibit
      N
      executed
      pursuant to Section 1.13.

     

    “Incremental
      Commitment Request Requirements”
shall
      mean, with respect to any request for an Incremental Commitment made pursuant
      to
      Section 1.13, the satisfaction of each of the following conditions on the date
      of such request: (i) no Default or Event of Default then exists or would result
      therefrom and (ii) all of the representations and warranties contained herein
      and in the other Credit Documents are true and correct in all material respects
      at such time (unless stated to relate to a specific earlier date, in which
      case
      such representations and warranties shall be true and correct in all material
      respects as of such earlier date).

     

    “Incremental
      Lender”
shall
      have the meaning assigned to that term in Section 1.13(b).

     

    “Incremental
      Loan Commitment Date”
shall
      have the meaning provided in Section 1.13(b).

     

    “Incremental
      Loan Commitment Requirements”
shall
      mean, with respect to any provision of an Incremental Commitment on a given
      Incremental Loan Commitment Date (as defined in Section 1.13(b)), the
      satisfaction of each of the following conditions on or prior to the effective
      date of the respective Incremental Loan Commitment Agreement: (i) no Default
      or
      Event of Default then exists or would result therefrom, (ii) all of the
      representations and warranties contained herein and in the other Credit
      Documents are true and correct in all material respects at such time (unless
      stated to relate to a specific earlier date, in which case such representations
      and warranties shall be true and correct in all material respects as of such
      earlier date), (iii) the delivery by the

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

     

    Borrower
      to the Administrative Agent of an officer’s certificate executed by an
      Authorized Officer of the Borrower and certifying as to compliance with
      preceding clauses (i) and (ii), (iv) the delivery by the Borrower to the
      Administrative Agent of opinions, in form and substance reasonably satisfactory
      to the Administrative Agent, from counsel to the Borrower and dated such date,
      covering such of the matters set forth in the opinions of counsel delivered
      to
      the Administrative Agent on the Initial Borrowing Date pursuant to Section
      5.03
      as may be reasonably requested by the Administrative Agent, and such other
      matters incident to the transactions contemplated thereby as the Administrative
      Agent may reasonably request, (v) the delivery by the Borrower to the
      Administrative Agent of such other officers’ certificates and evidence of good
      standing as the Administrative Agent shall reasonably request and (vi) the
      completion by the Borrower of such other actions as the Administrative Agent
      may
      reasonably request in connection with such Incremental Commitment.

     

    “Sixth
      Amendment”
means
      the Sixth Amendment to this Credit Agreement, dated as of February 7, 2007.
      

     

    “Sixth
      Amendment Effective Date”
has
      the
      meaning provided in the Sixth Amendment. 

     

    4.
      The
      Credit Agreement is hereby amended by adding Exhibit
      N
      attached
      hereto as an exhibit thereto. 

     

    II.
      Miscellaneous
      Provisions.

     

    1.  In
      order
      to induce the Lenders to enter into this Sixth Amendment, the Borrower hereby
      represents and warrants that (i) no Default or Event of Default exists as of
      the
      Sixth Amendment Effective Date (as defined herein) both before and after giving
      effect to this Sixth Amendment and (ii) all of the representations and
      warranties contained in the Credit Agree-ment or the other Credit Documents
      are
      true and correct in all material respects on the Sixth Amendment Effective
      Date
      both before after giving effect to this Sixth Amendment, with the same effect
      as
      though such representations and warranties had been made on and as of the Sixth
      Amendment Effective Date (it being understood that any representation or
      warranty made as of a specific date shall be true and correct in all material
      respects as of such specific date).

     

    2.  This
      Sixth Amendment is limited as specified and shall not constitute a modification,
      acceptance or waiver of any other provision of the Credit Agreement or any
      other
      Credit Document.

     

    3.  This
      Sixth Amendment may be executed in any number of counterparts and by the
      different parties hereto on separate counterparts, each of which counterparts
      when executed and delivered shall be an original, but all of which shall
      together constitute one and the same instrument. A complete set of counterparts
      shall be lodged with the Borrower and the Administrative Agent.

     

    4.  THIS
      SIXTH AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL
      BE
      CONSTRUED IN 

     

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

     

    ACCORDANCE
      WITH AND GOVERNED BY THE LAW OF
      THE STATE OF NEW YORK.

     

    5.  This
      Sixth Amendment shall become effective on the date (the “Sixth Amendment
      Effective Date”) when the Borrower, and Lenders constituting the Required
      Lenders shall have signed a counterpart hereof (whether the same or different
      counterparts) and shall have delivered (including by way of facsimile or other
      electronic transmission) the same to White & Case LLP, 1155 Avenue of the
      Americas, New York, NY 10036; Attention: Yanni Guo (facsimile number:
      212-354-8113 / email: yguo@whitecase.com).

     

    6.  From
      and
      after the Sixth Amendment Effective Date, all references in the Credit Agreement
      and each of the other Credit Documents to the Credit Agreement shall be deemed
      to be references to the Credit Agreement, as modified hereby.

    

    *
      *
      *

    

     

     

    

     

    5

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

     

     

    
      IN
        WITNESS WHEREOF, the parties hereto have caused their duly authorized officers
        to execute and deliver this Sixth Amendment as of the date first above
        written.

       

                  GENCO
        SHIPPING &
TRADING LIMITED

      

      

                  By:
/s/
        John
        Wobensmith                                    

                  Name:
        John
        Wobensmith

                  Title:
        CFO

      

      

                  DnB
        NOR BANK ASA, NEW
        YORK BRANCH,

                  Individually
        and as
        Administrative

                  Agent

      

      

                  By:__________________________________

                  Name:

                  Title:

      

                  By:__________________________________

                  Name:

                  Title:

      

    

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      IN
        WITNESS WHEREOF, the parties hereto have caused their duly authorized officers
        to execute and deliver this Sixth Amendment as of the date first above
        written.

    

    
       

       

                  GENCO
        SHIPPING &
TRADING LIMITED

      

      

                  By:__________________________________

                  Name:

                  Title:

      

      

                  DnB
        NOR BANK ASA, NEW
        YORK BRANCH,

                  Individually
        and as
        Administrative

                  Agent

      

      

                  By:
/s/
        Nikolai A.
        Nachamkin                             

                  Name:
        Nikolai A.
        Nachamkin

                  Title:  
        Senior Vice President

      

                  By:
/s/
        Cathleen
        Buckley                                  

                  Name:
        Cathleen
        Buckley

                  Title:  
        Vice President

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
       

      SIGNATURE
        PAGE TO THE SIXTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF FEBRUARY 7,
        2007,
        AMONG GENCO SHIPPING & TRADING LIMITED, VARIOUS FINANCIAL INSTITUTIONS AND
        DNB NOR BANK ASA, NEW YORK BRANCH, AS ADMINISTRATIVE AGENT

      

      

      NAME
        OF
        INSTITUTION:

       

      Nordea
        Bank Norge ASA, Grand Cayman
        Branch

      

                        
By:
/s/
        Anne
        Engen              
  

                        
Name:
        Anne Engen

                        
Title:
        Vice
        President

       

    

     

                                                By:
/s/
      Colleen
      Durkin                      
 
                  Name:
        Colleen
        Durkin

                  Title:  
        Vice President

    

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

     

    
      SIGNATURE
        PAGE TO THE SIXTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF FEBRUARY __,
        2007,
        AMONG GENCO SHIPPING & TRADING LIMITED, VARIOUS FINANCIAL INSTITUTIONS AND
        DNB NOR BANK ASA, NEW YORK BRANCH, AS ADMINISTRATIVE AGENT

      

      

      

      NAME
        OF
        INSTITUTION:

       

      

                      THE
        ROYAL BANK OF SCOLAND plc

      
 

                        
By:
/s/
        Adrian
        Meadows   

                        
Name:
        Adrian Meadows  

                        
Title:
        Director, Ship Finance
        Portfolio Management

    

     

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

     

     

    SIGNATURE
      PAGE TO THE SIXTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF FEBRUARY 7, 2007,
      AMONG GENCO SHIPPING & TRADING LIMITED, VARIOUS FINANCIAL INSTITUTIONS AND
      DNB NOR BANK ASA, NEW YORK BRANCH, AS ADMINISTRATIVE AGENT

    

    

    

    NAME
      OF
      INSTITUTION:

     

                     
SKANDINAVISKA
      ENSKILDA BANKEN A.B.

    

                      
By:
/s/
      J.
      Pratt                                          
                                   

                      
Name:
      J.
      Pratt                                   

                      
Title:
      Chief
      Executive                      

    

                                             
/s/
      R.
      Gifford                                             

                                           Name:
      R. Gifford Title: 

                                                Title:
      Head of London
      Branch

                                                                  

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      SIGNATURE
        PAGE TO THE SIXTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF FEBRUARY 7,
        2007,
        AMONG GENCO SHIPPING & TRADING LIMITED, VARIOUS FINANCIAL INSTITUTIONS AND
        DNB NOR BANK ASA, NEW YORK BRANCH, AS ADMINISTRATIVE AGENT

      

      

      

      NAME
        OF
        INSTITUTION:

      

                       
Citibank,
        N.A.

                        
By: 
/s/
        Robert
        Malleck                   
  

                        
Name:
        Robert
        Malleck

                        
Title:
        Vice
        President

    

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      SIGNATURE
        PAGE TO THE SIXTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF FEBRUARY 7,
        2007,
        AMONG GENCO SHIPPING & TRADING LIMITED, VARIOUS FINANCIAL INSTITUTIONS AND
        DNB NOR BANK ASA, NEW YORK BRANCH, AS ADMINISTRATIVE AGENT

      

      

      

      NAME
        OF
        INSTITUTION:

       

                                 
THE
        GOVERNOR AND
        COMPANY OF THE BANK OF SCOTLAND

      

                        
By:
John
        Lowe                  
          

                        
Name:
        John Lowe

                        
Title:
        Associate Director,
        Marine Finance

    

     

     

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

     

    
      
        SIGNATURE
          PAGE TO THE SIXTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF FEBRUARY 7,
          2007,
          AMONG GENCO SHIPPING & TRADING LIMITED, VARIOUS FINANCIAL INSTITUTIONS AND
          DNB NOR BANK ASA, NEW YORK BRANCH, AS ADMINISTRATIVE AGENT

        

        

        

        NAME
          OF
          INSTITUTION:

         

         

                                   
SUMITOMO
          MITSUI
          BANKING CORPORATION

        

                          
By:
/s/
Phillippe
          Devos                           
  

                          
Name: Phillippe
          Devos

                          
Title:  
Deputy
          General Manager

      

       

       

    

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

        

      

    

    
                                                                                            EXHIBIT
      N

    
 

    FORM
      OF INCREMENTAL COMMITMENT AGREEMENT

     

    This
      INCREMENTAL COMMITMENT AGREEMENT (this “Agreement”) is dated as of [________]
      [___], [___] and made between the banks and financial institutions listed on
      Schedule I attached hereto (the “Incremental
      Lenders”),
      DnB
      NOR BANK ASA, NEW YORK BRANCH (the “Administrative
      Agent”)
      and
      Genco Shipping & Trading Limited (the “Borrower”). 

     

    1.  Reference
      is made to the Credit Agreement, dated as of July 15, 2005, among the Borrower,
      the Lenders from time to time party thereto (the “Lenders”), and the
      Administrative Agent (as amended, modified or supplemented from time to time,
      the “Credit Agreement”). Unless otherwise defined herein, capitalized terms used
      herein shall have the respective meanings set forth in the Credit Agreement.
      This Agreement shall consitute a Credit Document.

     

    2.  Each
      Incremental Lender hereby severally agrees to provide the Incremental Commitment
      set forth opposite its name on Schedule I attached hereto (for each such
      Incremental Lender, its “Incremental Commitment”). Each Incremental
      Commitment provided pursuant to this Agreement shall be subject to all of the
      terms and conditions set forth in the Credit Agreement, including, without
      limitation, Section 1.13 thereof.

     

    3.  The
      parties hereto acknowledge and agree that upon the Agreement Effective Date
      (as
      defined below), the Incremental Commitment of each Incremental Lender shall
      become, or in the case of an existing Lender under the Credit Agreement, shall
      be added to (and thereafter become a part of), the Commitment of such
      Incremental Lender. The parties hereto further agree that, with respect to
      the
      Incremental Commitment provided by each Incremental Lender pursuant to this
      Agreement, such Incremental Lender shall receive from the Borrower such upfront
      fees, unutilized commitment fees and/or other fees, if any, as may be separately
      agreed to in writing with Borrower and
      acknowledged by the Administrative Agent, all of which fees shall be due and
      payable to such Incremental Lender on the terms and conditions set forth in
      each
      such separate agreement.

     

    4.  Furthermore,
      each of the parties hereto hereby agrees to the terms and conditions set forth
      on Schedule I hereto in respect of each Incremental Commitment provided pursuant
      to this Agreement.

     

    5.  Each
      Incremental Lender, to the extent not already a party to the Credit Agreement
      as
      a Lender thereunder, (i) confirms that it is an Eligible Transferee, (ii)
      confirms that it has received a copy of the Credit Agreement and the other
      Credit Documents, together with copies of the financial statements referred
      to
      therein and such other documents and information as it has deemed appropriate
      to
      make its own credit analysis and decision to enter into this Agreement and
      to
      become a Lender under the Credit Agreement, (iii) agrees that it will,
      independently and without reliance upon the Administrative Agent or any other
      Lender and based on such documents and information as it shall deem appropriate
      at the time, continue to make its own credit decisions in taking or not taking
      action under the Credit Agreement and the other Credit Documents, (iv) appoints
      and authorizes the Administrative Agent to take such

     

     

     

    
       

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

            
              Exhibit
                N

              Page 2 

              

            

          

        

      

       

    

     

    action
      as
      Administrative Agent on its behalf and to exercise such powers under the Credit
      Agreement and the other Credit Documents as are delegated to the Administrative
      Agent by the terms thereof, together with such powers as are reasonably
      incidental thereto, and (v) agrees that it will perform in accordance with
      their
      terms all of the obligations which by the terms of the Credit Agreement and
      the
      other Credit Documents are required to be performed by it as a
      Lender.

     

    6.  Upon
      the
      date of (i) the execution of a counterpart of this Agreement by each Incremental
      Lender, the Administrative Agent and the Borrower, (ii)
      the
      delivery to the Administrative Agent of a fully executed counterpart (including
      by way of facsimile or other electronic transmission) hereof, (iii) the payment
      of any fees then due and payable in connection herewith and (iv) the
      satisfaction of any other conditions precedent set forth in Section 3 of
      Schedule I hereto (such date, the “Agreement Effective Date”), each
      Incremental Lender party hereto (i) shall be obligated to make the Loans
      provided to be made by it as provided in this Agreement on the terms, and
      subject to the condi-tions, set forth in the Credit Agreement and in this
      Agreement and (ii) to the extent provided in this Agreement, shall have the
      rights and obligations of a Lender thereunder and under the other applicable
      Credit Documents.

     

    7.  The
      Borrower acknowledges and agrees that it shall be liable for all Obligations
      with respect to the Incremental Commitments provided hereby including, without
      limita-tion, all Loans made and letters of credit issued pursuant thereto,
      in
      each case to the extent incurred by or issued for the account of, or guaranteed
      by, the Borrower in accordance with the terms of the Credit
      Documents.

     

    8.  Attached
      hereto as Annex I is the officer’s certificate required to be delivered pursuant
      to clause (iii) of the definition of “Incremental Loan Commitment Requirements”
appearing in Section 11.01 of the Credit Agreement certifying that the
      conditions set forth in clauses (i) and (ii) of the definition of “Incremental
      Loan Commitment Requirements” appearing in Section 11.01 of the Credit Agreement
      have been satisfied.

     

    9.  Attached
      hereto as Annex II is an opinion of [insert name or names of counsel, including
      in-house counsel, who will be delivering opinion], counsel to the Borrower,
      delivered as required pursuant to clause (iv) of the definition of “Incremental
      Loan Commitment Requirements” appearing in Section 11.01 of the Credit
      Agreement.

     

    10.  Attached
      hereto as Annex III are true and correct copies of an officer’s certificate and
      a good standing certificate of the Borrower required to be delivered pursuant
      to
      clause (v) of the definition of “Incremental Loan Commitment Requirements”
appearing in Section 11.01 of the Credit Agreement.

     

    11.  Upon
      the
      occurrence of the Agreement Effective Date, this Agreement may only be changed,
      modified or varied by written instrument in accordance with the requirements
      for
      the modification of Credit Documents pursuant to Section 13.12 of the Credit
      Agreement.

     

    12.  In
      the
      event of any conflict between the terms of this Agreement and those of the
      Credit Agreement, the terms of the Credit Agreement shall control.

     

     

     

     

    

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
            Exhibit
              N

            Page
              3 

            

          

        

      

    

     

     

     

     

    13.  THIS
      AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF
      THE
      STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS
      PRINCIPLES.

     

    *
      *
      *

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

                [NAME
      OF EACH
      INCREMENTAL LENDER]

     

                By:
      __________________________

                Name:                    

                Title:

    
 

                GENCO
      SHIPPING &
TRADING LIMITED

     

                By:
      __________________________

                Name:

               
      Title:

     

                DnB
      NOR BANK ASA, NEW
      YORK BRANCH, as Administrative Agent

     

                By:
      __________________________

                Name:

                Title:

    

     

                By:
      __________________________

                Name:

                Title:

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
          

          

        

      

    

    
 

                                                                                        SCHEDULE
      I to EXHIBIT
      N

    
 

    TERMS
      AND
      CONDITIONS FOR INCREMENTAL COMMITMENT AGREEMENT 

     

    Dated
      as
      of _____________, ____

     

    1.
      BORROWER: GENCO
      SHIPPING & TRADING LIMITED

     

    2.
      Incremental Commitment amounts (as of the Agreement Effective
      Date):

     

    
      	
              Names
                of Incremental Lenders

               

            	
              Amount
                of Incremental Commitment

               

            
	 	 
	
              Total:1 

               

            	 

    

    

     

    
      	
              3.

            	
              Other
                Conditions Precedent:2 

            

    

     

    

    --------------------------------------------------

    1
      The aggregate amount of Incremental
      Commitments must be at least $25,000,000 and in integral multiples of
      $25,000,000 in excess thereof.

     

    
      2
        Insert any additional conditions precedent which may be required to be satisfied
        prior to the Agreement Effective Date.

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