Document:

Unassociated Document

    EXHIBIT
4.17

    

    Capital
GP L.L.C.

    3
Iassonos Street, Piraeus, 185 37 Greece

    

    Capital
Product Partners L.P.

    3
Iassonos Street

    Piraeus,
185 37

    Greece

    

    January
30, 2009

    

    Dear
Sirs,

    

    We refer to the meeting of the board of
directors (the “Board”) of Capital
Product Partners L.P. (the “Partnership”) held in
January 2009 (the “Meeting”).  Capitalized
terms not otherwise defined herein shall have the meaning as set forth in the
First Amended and Restated Agreement of Limited Partnership (the “Partnership
Agreement”) of the Partnership.

    

    As the Partnership is aware, the Board
resolved in its Meeting to make a dividend distribution for the fourth quarter
of 2008 (the “Dividend”) which
under the provisions of the Partnership Agreement results in a distribution with
respect to Incentive Distribution Rights (the “IDR
Payment”).  The IDR Payment is payable to Capital GP L.L.C.,
the General Partner, as the sole holder of the Incentive Distribution
Rights.

    

    The General Partner has agreed to defer
payment of a portion of the IDR Payment in order to facilitate the Board’s
decision to make the Dividend and to address certain issues raised by the
independent directors in connection with the IDR Payment and the
Dividend.

    

    Accordingly, the General Partner and
the Partnership hereby agree that the IDR Payment shall be made in four equal
installments on February 13, 2009 and on the respective payment dates for
distributions with respect to the first, second and third quarters of 2009,
provided, however, that such installment
payments shall only be made on each of the respective payment dates for the
first, second and third quarters of 2009 if the Partnership’s regular quarterly
distribution on such payment date equals or exceeds the Minimum Quarterly
Distribution plus any outstanding arrearages of the Minimum Quarterly
Distribution on such payment date.

    

    This letter agreement shall be
construed in accordance with and governed by the laws of The Republic of the
Marshall Islands, without regard to the principles of conflicts of
law.

    

    Yours
faithfully,

    Capital
GP L.L.C.

    By:
/s/     Ioannis E. Lazaridis

    Name:     
Ioannis E. Lazaridis

    Title:        Chief
Executive Officer and Chief Financial Officer of Capital GP L.L.C.

    

    Agreed
and accepted by:

    

    Capital
Product Partners L.P.

    By
Capital GP L.L.C., its General Partner

    By:­­­­
/s/    Ioannis E. Lazaridis

    Name:     Ioannis
E. Lazaridis

    Title:       Chief
Executive Officer and Chief Financial Officer of Capital GP
L.L.C.Exhibit 4.4

                                 PROMISSORY NOTE
                                 ---------------

$5,000.00                                                    September 15, 2008

               FOR VALUE RECEIVED, and intending to be legally bound, Wentworth
IV, Inc. (the "Maker"), hereby unconditionally and irrevocably promises to pay
to the order of Vero Management, LLC (the "Payee"), in lawful money of the
United States of America, the sum of five thousand dollars ($5,000.00) on such
date that the Payee, by delivery of written notice to the Maker, demands payment
of all obligations hereunder, without presentment for payment, diligence, grace,
exhibition of this Promissory Note, protest, further demand or notice of any
kind, all of which are hereby expressly waived (the "Maturity Date").

               Interest shall accrue on the outstanding principal balance of
this Promissory Note on the basis of a 360-day year daily from the date the
Maker receives the funds from the Payee until paid in full at the rate of five
percent (5.0%) per annum, and shall be due and payable at the Maturity Date, or
the prepayment date, if any, whichever is earlier. This Promissory Note may be
prepaid in whole or in part at any time or from time to time prior to the
Maturity Date.

               For purposes of this Promissory Note, an "Event of Default" shall
occur if the Maker shall: (i) fail to pay the entire principal amount of this
Promissory Note when due and payable, (ii) admit in writing its inability to pay
any of its monetary obligations under this Promissory Note, (iii) make a general
assignment of its assets for the benefit of creditors, or (iv) allow any
proceeding to be instituted by or against it seeking relief from or by
creditors, including, without limitation, any bankruptcy proceedings.

               In the event that an Event of Default has occurred, the Payee or
any other holder of this Promissory Note may, by notice to the Maker, declare
this entire Promissory Note to be forthwith immediately due and payable, without
presentment, demand, protest or further notice of any kind, all of which are
hereby expressly waived by the Maker. In the event that an Event of Default
consisting of a voluntary or involuntary bankruptcy filing has occurred, then
this entire Promissory Note shall automatically become due and payable without
any notice or other action by Payee. Commencing five days after the occurrence
of any Event of Default, the interest rate on this Note shall accrue at the rate
of 18% per annum.

               The nonexercise or delay by the Payee or any other holder of this
Promissory Note of any of its rights hereunder in any particular instance shall
not constitute a waiver thereof in that or any subsequent instance. No waiver of
any right shall be effective unless in writing signed by the Payee, and no
waiver on one or more occasions shall be conclusive as a bar to or waiver of any
right on any other occasion.

               Should any part of the indebtedness evidenced hereby be collected
by law or through an attorney-at-law, the Payee or any other holder of this
Promissory Note shall, if permitted by applicable law, be entitled to collect
from the Maker all reasonable costs of collection, including, without
limitation, attorneys' fees.

<PAGE>

               All notices and other communications must be in writing to the
address of the party set forth in the first paragraph hereof and shall be deemed
to have been received when delivered personally (which shall include via an
overnight courier service) or, if mailed, three (3) business days after having
been mailed by registered or certified mail, return receipt requested, postage
prepaid. The parties may designate by notice to each other any new address for
the purpose of this Promissory Note.

               Maker hereby forever waives presentment, demand, presentment for
payment, protest, notice of protest, and notice of dishonor of this Promissory
Note and all other demands and notices in connection with the delivery,
acceptance, performance and enforcement of this Promissory Note.

               This Promissory Note shall be binding upon the successors and
assigns of the Maker, and shall be binding upon, and inure to the benefit of,
the successors, heirs, legatees and assigns of the Payee.

               This Promissory Note shall be governed by and construed in
accordance with the internal laws of the State of Delaware. All disputes between
the Maker and the Payee relating in any way to this Promissory Note shall be
resolved only by state and federal courts located in Delaware, and the courts to
which an appeal therefrom may be taken.

               IN WITNESS WHEREOF, the undersigned Maker has executed this
Promissory Note as of September 15, 2008.

                                               MAKER:

                                               WENTWORTH IV, INC.

                                               By: /s/ Kevin R. Keating
                                                   -----------------------------
                                                    Name: Kevin R. Keating

                                                    Title: PresidentExhibit 4.5

                                 PROMISSORY NOTE
                                 ---------------

$2,500.00                                                        January 9, 2009

               FOR VALUE RECEIVED, and intending to be legally bound, Wentworth
IV, Inc. (the "Maker"), hereby unconditionally and irrevocably promises to pay
to the order of Vero Management, LLC (the "Payee"), in lawful money of the
United States of America, the sum of two thousand five hundred dollars
($2,500.00) on such date that the Payee, by delivery of written notice to the
Maker, demands payment of all obligations hereunder, without presentment for
payment, diligence, grace, exhibition of this Promissory Note, protest, further
demand or notice of any kind, all of which are hereby expressly waived (the
"Maturity Date").

               Interest shall accrue on the outstanding principal balance of
this Promissory Note on the basis of a 360-day year daily from the date the
Maker receives the funds from the Payee until paid in full at the rate of five
percent (5.0%) per annum, and shall be due and payable at the Maturity Date, or
the prepayment date, if any, whichever is earlier. This Promissory Note may be
prepaid in whole or in part at any time or from time to time prior to the
Maturity Date.

               For purposes of this Promissory Note, an "Event of Default" shall
occur if the Maker shall: (i) fail to pay the entire principal amount of this
Promissory Note when due and payable, (ii) admit in writing its inability to pay
any of its monetary obligations under this Promissory Note, (iii) make a general
assignment of its assets for the benefit of creditors, or (iv) allow any
proceeding to be instituted by or against it seeking relief from or by
creditors, including, without limitation, any bankruptcy proceedings.

               In the event that an Event of Default has occurred, the Payee or
any other holder of this Promissory Note may, by notice to the Maker, declare
this entire Promissory Note to be forthwith immediately due and payable, without
presentment, demand, protest or further notice of any kind, all of which are
hereby expressly waived by the Maker. In the event that an Event of Default
consisting of a voluntary or involuntary bankruptcy filing has occurred, then
this entire Promissory Note shall automatically become due and payable without
any notice or other action by Payee. Commencing five days after the occurrence
of any Event of Default, the interest rate on this Note shall accrue at the rate
of 18% per annum.

               The nonexercise or delay by the Payee or any other holder of this
Promissory Note of any of its rights hereunder in any particular instance shall
not constitute a waiver thereof in that or any subsequent instance. No waiver of
any right shall be effective unless in writing signed by the Payee, and no
waiver on one or more occasions shall be conclusive as a bar to or waiver of any
right on any other occasion.

               Should any part of the indebtedness evidenced hereby be collected
by law or through an attorney-at-law, the Payee or any other holder of this
Promissory Note shall, if permitted by applicable law, be entitled to collect
from the Maker all reasonable costs of collection, including, without
limitation, attorneys' fees.

<PAGE>

               All notices and other communications must be in writing to the
address of the party set forth in the first paragraph hereof and shall be deemed
to have been received when delivered personally (which shall include via an
overnight courier service) or, if mailed, three (3) business days after having
been mailed by registered or certified mail, return receipt requested, postage
prepaid. The parties may designate by notice to each other any new address for
the purpose of this Promissory Note.

               Maker hereby forever waives presentment, demand, presentment for
payment, protest, notice of protest, and notice of dishonor of this Promissory
Note and all other demands and notices in connection with the delivery,
acceptance, performance and enforcement of this Promissory Note.

               This Promissory Note shall be binding upon the successors and
assigns of the Maker, and shall be binding upon, and inure to the benefit of,
the successors, heirs, legatees and assigns of the Payee.

               This Promissory Note shall be governed by and construed in
accordance with the internal laws of the State of Delaware. All disputes between
the Maker and the Payee relating in any way to this Promissory Note shall be
resolved only by state and federal courts located in Delaware, and the courts to
which an appeal therefrom may be taken.

               IN WITNESS WHEREOF, the undersigned Maker has executed this
Promissory Note as of January 9, 2009.

                                               MAKER:

                                               WENTWORTH IV, INC.

                                               By: /s/ Kevin R. Keating
                                                   -----------------------------
                                                   Name: Kevin R. Keating

                                                   Title: President

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