Document:

Exhibit 4.84

  

   

  

  
    SUPPLEMENTAL LETTER

    

    

    
      
        	To:	
                PARTNER SHIPPING CO. LIMITED

              

      

    

    147/1 St. Lucia Street

    Valletta, VLT 1185

    Malta

    c/o 154 Vouliagmenis Avenue,

    16674 Glyfada, Athens, Greece

    for the attention of: Stamatios Tsantanis/Stavros Gyftakis

    (the "Borrower")

    

    

    
      
        	To:	
                SEANERGY MARITIME HOLDINGS CORP.

              

      

    

    Trust Company Complex, Ajeltake Road

    Ajeltake Island, Majuro, MH 96960

    Marshall Islands

    c/o 154 Vouliagmenis Avenue,

    16674 Glyfada, Athens, Greece

    for the attention of: Stamatios Tsantanis/Stavros Gyftakis

    (the "Guarantor")

    

    

    
      
        	From:	
                AMSTERDAM TRADE BANK N.V.

              

      

    

    World Trade Center

    Tower I, Level 6

    Strawinskylaan 1939

    1077 XX, Amsterdam

    The Netherlands

    acting as Facility Agent on behalf of the Finance Parties

     

    

    21 August 2019

     

    

    Dear Sirs

     

    Facility Agreement dated 13 February 2019 (as amended and supplemented by a supplemental agreement dated 13 June 2019, together, the "Facility
        Agreement") and entered into between (i) the Borrower as borrower, (ii) the Guarantor as corporate guarantor, (iii) Amsterdam Trade Bank N.V. as arranger, (iv) the banks and financial institutions named in the Facility Agreement as lenders, (v)
        Amsterdam Trade Bank N.V. as facility agent (in such capacity, the “Facility Agent”) and (vi) Amsterdam Trade Bank N.V. as security agent in respect of a term loan facility of (originally) up to US$20,890,000

    

    

    We refer to the Facility Agreement. Words and expressions defined in the Facility Agreement shall have the same meaning when used in this Letter and for the purposes of this Letter.

     

    "Effective Date" means 1 July 2019.

     

    This Letter sets out the terms and conditions on which the Facility Agent (acting on behalf of the Finance Parties) agrees, with effect on and from the Effective Date, to the request of the Borrower and the Guarantor
      to amend certain provisions of the Facility Agreement as described in Clause 2 (the "Request").

     

    
      
        	1	
                We hereby confirm our approval, consent and acceptance of the Request above from the Effective Date, subject to receiving an original of this Letter executed by the Facility Agent and duly acknowledged by the Borrower and the
                  Guarantor.

              

      

    

     

    
      
        

    

    
    
      
        	2	
                Amendments to the Facility Agreement

              

      

    

     

    In consideration of the agreement of the Facility Agent (acting on behalf of the Finance Parties) contained in Clause 1 of this Letter, the Borrower and the Guarantor hereby agree with the Facility
      Agent that the provisions of the Facility Agreement shall be varied and/or amended and/or supplemented with effect on and from the Effective Date as follows:

     

    
      
        	(a)	
                by deleting sub-paragraph (b)(i) of clause 24.1 (Minimum required security cover) thereof in its entirety and replacing it with the following new sub-paragraph:

              

      

    

     

    
      
        	

              	"(i)	
                during the period commencing on the first Utilisation Date and ending on 30 June 2020 (inclusive), below 140 per cent. of the Loan; and"; and

              

      

    

     

    
      
        	(b)	
                by construing throughout all references in the Facility Agreement to “this Agreement” and all references in the Finance Documents (other than the Facility Agreement) to the “Facility Agreement” as references to the Facility Agreement
                  as amended and supplemented by this Letter.

              

      

    

     

    
      
        	3	
                Representations and Warranties

              

      

    

     

    The Borrower and the Guarantor hereby represent and warrant to the Facility Agent that the representations and warranties contained in clause 18 (Representations)
      of the Facility Agreement are true and correct on the date of this Letter and on the Effective Date as if all references therein to “this Agreement” were references to the Facility Agreement as supplemented by this Letter and as if all such
      representations and warranties were amended in line with this Clause 3 of this Letter.  This Letter comprises the legal, valid and binding obligations of the Borrower and the Guarantor enforceable in accordance with its terms.

     

    
      
        	4	
                Re-affirmation of Facility Agreement

              

      

    

     

    The Borrower and the Guarantor hereby agree that all the provisions of the Facility Agreement which have not been amended by this Letter shall be and are hereby re-affirmed and remain in full force
      and effect.

     

    
      
        	5	
                Costs and Expenses

              

      

    

     

    The provisions of clause 16 (Costs and Expenses) of the Facility Agreement, as amended and supplemented by this Letter, shall apply to this Letter as if they
      were expressly incorporated in this Letter with any necessary modifications.

     

    
      
        	6	
                Notices

              

      

    

     

    Clause 36 (Notices) of the Facility Agreement shall extend and apply to this Letter as if the same were (mutatis mutandis) herein expressly set forth.

     

    
      
        	7	
                Counterparts

              

      

    

     

    This Letter may be executed in any number of counterparts.

     

    
      
        	8	
                Governing law

              

      

    

     

    This Letter and any non-contractual obligations arising out of or in connection with it shall be governed by and construed in accordance with English law.

     

    
      
        	9	
                Process Agent

              

      

    

     

    The Borrower and the Guarantor, hereby, irrevocably appoint Messrs E. J. C. Album Solicitors, presently of Landmark House, 190 Willifield Way, London NW11 6YA, England (attention: Mr Edward Album,
      tel: +44 208 455 7653, fax: +44 208 457 5558 and email: ejca@mitgr.com), to act as their agent to receive and accept on their behalf any process or other document relating to any proceedings in the English Courts which are connected with this
      Letter.

     

    
      2

      
        

    

    Please confirm your agreement by signing the acknowledgement below.

     

    Yours faithfully

     

    	
            /s/ Iraklis Tsirigotis

          	 
	 	 	 
	
            Name: Iraklis Tsirigotis

          	 
	
            For and on behalf of

          	 
	
            AMSTERDAM TRADE BANK N.V.

          	 
	
            acting as Facility Agent on behalf of the Finance Parties

          

     

    
      3

      
        

    

    We hereby acknowledge receipt of the above Letter and confirm our agreement to the terms hereof.

     

    	
            /s/ Stavros Gyftakis

          	 
	 	 	 
	
            STAVROS GYFTAKIS as Director

          	 
	
            for and on behalf of

          	 
	
            PARTNER SHIPPING CO. LIMITED

          	 
	 	 
	
            Date: 21 August 2019

          	 

    

    

    

    

    	
            /s/ Stavros Gyftakis

          	 
	 	 	 
	
            STAVROS GYFTAKIS as CFO

          	 
	
            for and on behalf of

          	 
	
            SEANERGY MARITIME HOLDINGS CORP.

          	 
	 	 
	
            Date: 21 August 2019

          	 

    

    

  

   

    

  4Exhibit 4.86

      

       

      

      SUPPLEMENTAL LETTER

      

      

      
        
          	To:	
                  SEANERGY MARITIME HOLDINGS CORP.

                

        

      

      as Borrower

      of Trust Company Complex, Ajeltake Road

      Ajeltake Island, Majuro

      MH96960, the Marshall Islands

      

      

      
        
          	From:	
                  JELCO DELTA HOLDING CORP.

                

        

      

      as Lender

      Jardine House, 4th Floor,

      33-35 Reid Street

      P.O. Box HM 1431

      Hamilton HM FX, Bermuda

      29 May 2019

       

      Dear Sirs,

       

      Facility Agreement originally entered into on 26 March 2019, and made between (i) Seanergy Maritime Holdings Corp., as borrower (the "Borrower") and (ii) Jelco Delta Holding Corp., as lender (the
        "Lender") in respect of a loan facility of US$7,000,000 (the “Facility Agreement”)

      

      

      We refer to the Facility Agreement. Defined expressions in the Facility Agreement shall have the same meanings when used in this Supplemental Letter and for the purposes of this Supplemental Letter.

       

      In exchange for, among other things, (a) the full and final settlement of unpaid interest in the amount of $5,833.33 accrued under the Facility Agreement until 31 March 2019, (b) the neutralization of the Applicable
        Interest Rate for the period from 1 April 2019 until 31 December 2019 and (c) the waiver of the mandatory prepayment obligation of Clause 5 (Mandatory Prepayment) of the Facility Agreement, the Lender and
        the Borrower have entered into a Securities and Purchase Agreement dated 9 May 2019 with respect to 1,823,529 units of the Borrower, each unit consisting of (i) one common share par value $0.0001 per share, (ii) one Class B Warrant, and (iii) one
        Class C Warrant, for $3.40 per unit.

       

      This Supplemental Letter sets out the terms and conditions on which the Lender agrees, at the request of the Borrower, to amend a certain provision of the Facility Agreement and waive a certain obligation under the
        Facility Agreement as described in Clause 1.1 below.

       

      
        
          	1.1	
                  We hereby confirm our approval, consent and acceptance of the following with effect as of 1 April 2019:

                

        

      

       

      
        
          	

                	a)	
                  To delete the definition of “Applicable Interest Rate” in Clause 1.2 (Definitions) of the Facility Agreement in its entirety and replacing it with the
                    following:

                

        

      

       

      “"Applicable Interest Rate" means:

       

      
        
          	

                	(a)	
                  during the period commencing on 1 April 2019 and ending on 31 December 2019 (inclusive), 0 per cent. per annum;

                

        

      

       

      
        
          	

                	(b)	
                  during the period commencing on 1 January 2020 and ending on the Final Repayment Date, 6 per cent. per annum;

                

        

      

       

      
        
          	

                	(c)	
                  if the First Repayment Instalment is deferred to the Balloon Repayment Instalment pursuant to Clause 4.2 (Deferral of First Repayment Instalment), at all times thereafter, 8.5 per cent. per
                    annum;”;

                

        

      

       

      
        
          

      

      
      
        
          	

                	b)	
                  To waive the obligation in Clause 5 (Mandatory Prepayment) of the Facility Agreement of the Borrower to prepay the full or any part of the Loan by utilizing an amount equal to not less than 25
                    per cent. of the net proceeds of the public offering of securities concluded by the Borrower on 13 May 2019 pursuant to the Form F-1 Registration Statement with No. 333-221058; and

                

        

      

      

      

      
        
          	

                	c)	
                  To construe throughout all references in the Facility Agreement to “this Agreement” and all references in the Finance Documents (other than the Facility Agreement) to the “Loan Agreement” as references to the Facility Agreement as
                    amended and supplemented by this Supplemental Letter.

                

        

      

      

      

      
        
          	2	
                  Governing law and Jurisdiction

                

        

      

       

      Clause 12 (Governing Law and Jurisdiction) of the Facility Agreement, as amended and supplemented by this Supplemental Letter, shall apply to this
        Supplemental Letter as if it were expressly incorporated in it.

       

      
        
          	3	
                  Process Agent

                

        

      

       

      The Borrower, hereby, irrevocably appoints Messrs. E.J.C Album Solicitors, presently of Landmark House, 190 Willifield Way, London, NW11 6YA, England (Attention of Mr. Edward Album Tel +44 (0) 20
        8455 7653, Fax +44 (0) 20 8457 5558, e-mail: ejca@mitgr.com), to act as its agent to receive and accept on its behalf any process or other document relating to any proceedings in the English Courts which are connected with this Supplemental
        Letter.

       

      Please confirm your agreement by signing the acknowledgement below.

       

      	
              Yours faithfully

            	 
	 	 
	
              /s/ Alastair Macdonald

            	 
	 	 
	
              Alastair Macdonald

            	 
	 	 
	
              29 May 2019

            	 
	
              for and on behalf of

            	 
	
              Jelco Delta Holding Corp.

            	 
	
              as Lender

            	 

      

      

      We hereby acknowledge receipt of the above Supplemental Letter and confirm our agreement to the terms hereof.

      

      

      	
              /s/ Stavros Gyftakis

            	 
	 	 
	
              Stavros Gyftakis

            	 
	 	 
	
              29 May 2019

            	 
	
              for and on behalf of

            	 
	
              Seanergy Maritime Holdings Corp.

            	 
	
              as Borrower

            	 

      

      

      

      

      
        2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}]]