Document:

Exhibit 10.34

MUTUAL CONSENT

This MUTUAL CONSENT (the "Consent") relating to the Revolving Convertible Promissory Note dated as of September 7, 2015, as amended by an Amendment to the Note dated as of December 1, 2015, as further amended by a Second Amendment to the Note dated as of December 14, 2015, as further amended by a Third Amendment to the Note dated as of January 27, 2016, as further amended by a Fourth Amendment to the Note dated as of March 7, 2016, as further amended by a Fifth Amendment to the Note as of April 21, 2016, as further amended by a Sixth Amendment to the Note as of May 17, 2016, as further amended by a Seventh Amendment to the Note as of June 16, 2016 and as further amended by an Eighth Amendment to the Note dated as of March 28, 2017 (together the "Note"), by and between Seanergy Maritime Holdings Corp. a corporation organized under the laws of the Republic of the Marshall Islands (the "Maker") and Jelco Delta Holding Corp., or its respective registered assigns (the "Holder"), is dated as of September 8, 2017.  Capitalized terms used but not defined herein shall have the meaning assigned in the Note.

WHEREAS, the parties wish to amend the Note as hereinafter set forth in order to defer the Interest Payment (as defined below).

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, the parties hereto hereby agree as follows:

	(A)	
Interest Payment.  The Maker and the Holder each hereby consent to defer the interest payment due under the Note on September 11, 2017 (the "Interest Payment") until October 2, 2017.  The Maker and the Holder agree the Maker's failure to pay the Interest Payment on September 11, 2017 shall not constitute an Event of Defualt. All other interest payments due under the Note pursuant to Section 3 of the Note shall remain due as scheduled.

	(B)	
Confirmation of Agreement. Except as expressly set forth herein, the Note is ratified and confirmed in all respects and shall remain in full force and effect in accordance with its terms, and each reference in the Note to "this Note" shall mean the Note as amended by this Consent.

	(C)	
Counterparts; Effectiveness. This Consent may be executed in any number of counterparts (including by facsimile) and by different parties hereto in separate counterparl.s, with the same effect as if all patties had signed the same document. All such counterparts shall be deemed an original, shall be construed together and shall constitute one and the same instrument. This Consent shall become effective when each party hereto shall have received counterparts hereof signed by all of the other parties hereto.

	(D)	
Governing Law. The laws of the State of New York shall govern the enforceability and validity of this Consent, the construction of its terms and the interpretation of the rights and duties of the parties, without regard to the principles of conflicts of laws thereof.

[Signature page follows]

THIS MUTUAL CONSENT has been entered into as of the date stated above.

	
THE MAKER:

	 
	 	 
	
SEANERGY MARITIME HOLDINGS CORP.

	 
	 	 	 
	 	 	 
	
By:

	/s/ Stamatis Tsantanis	 
	 	
Name: Stamatis Tsantanis

	 
	 	
Title: Chief Executive Officer

	 
	 	 	 
	 	 	 
	
THE HOLDER:

	 
	 	 
	
JELCO DELTA HOLDING CORP.

	 
	 	 	 
	 	 	 
	
By:

	/s/ Alastair Macdonald	 
	 	
Name: Alastair Macdonald

	 
	 	
Title: PresidentExhibit 10.40

 

SUPPLEMENTAL LETTER

	To:	
PREMIER MARINE CO.

GLADIATOR SHIPPING CO.

GUARDIAN SHIPPING CO.

SEANERGY MARITIME HOLDINGS CORP.

each of Trust Company Complex, Ajeltake Road

Ajeltake Island, Majuro

MH96960, the Marshall Islands

c/o 16 Grigoriou Lambraki Street

(Emporiko Kentro Premiera)

Second Floor

16674 Glyfada, Athens Greece

Fax No: +30 210 9638404

for the attention of: Chief Executive Officer

	From:	
UniCredit Bank AG

as Lender

7 Heraklitou Street

10673 Athens

Greece

Fax: +30 210 3640063

Attention: the Managers

25 September 2017

Dear Sirs

Facility Agreement dated 11 September 2015 (as amended and supplemented by a supplemental agreement dated 3 June 2016, a supplemental letter agreement dated 29 July 2016 and a supplemental letter agreement dated 7 March 2017, together, the "Facility Agreement") and entered into between (i) Premier Marine Co., Gladiator Shipping Co. and Guardian Shipping Co. as joint and several borrowers (together, the "Borrowers"), (ii) Seanergy Maritime Holdings Corp. as guarantor (the "Guarantor") and (iii) UniCredit Bank AG as lender (the "Lender") in respect of a term loan facility of (originally) up to US$52,704,790

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 25 September 2017.

The Borrowers have requested the Lender's consent to defer payment of US$1,552,000, representing the Repayment Instalment falling due on 25 September 2017 (the "Deferred Amount"), to 2 October 2017 (the "Request").

The Lender agrees, with effect on and from the Effective Date, to the Request subject to the following conditions the Borrowers will pay to the Lender a non-refundable fee in an amount of US$5,000 on 2 October 2017.

	1	
We hereby confirm our approval, consent and acceptance of the Request above from the Effective Date, subject to the satisfaction of the conditions referred to in paragraphs (a)-(g) below.

The conditions referred to above are:

	(a)	
a bringdown certificate of the Secretary of the Borrowers and the Guarantor specifying the directors and officers of the Borrowers and the Guarantor, the authorised and issued share capital and the holders of the shares therein and certifying that there are no changes to the documents provided by the Borrowers and the Guarantor under schedule 2, part A, paragraphs 1.2 and 1.3 of the Facility Agreement;

	(b)	
the original resolutions of the directors and the shareholders of the Borrowers and the Guarantor (together, where appropriate, with signed waivers of notice of any directors' or shareholders' meetings) approving, and authorising or ratifying the execution of, this Letter and any document to be executed by the Borrowers and the Corporate Guarantor pursuant to this Letter;

	(c)	
an original power of attorney of the Borrowers and the Guarantor under which this Letter and any documents required pursuant to any of them are to be executed by the Borrowers and the Guarantor;

	(d)	
certified copies of all documents (if any) evidencing any other necessary action, approvals or consents with respect to this Letter (including without limitation) all necessary governmental and other official approvals and consents in such pertinent jurisdictions as the Lender deems appropriate;

	(e)	
an original of this Letter duly executed by the Lender and acknowledged by the Borrowers and the Guarantor; and

	(f)	
evidence that the process agent referred to in Clause 9 of this Letter has accepted its appointment as agent for service of process under this Letter.

	2	
Conditions Subsequent

The Borrower hereby undertakes to pay to the Lender, on 2 October 2017, a non-refundable fee in the amount of US$5,000 and the Borrower agrees that failure to make such payment shall constitute an Event of Default entitling the Lender to take any action referred to in clause 27.19 of the Facility Agreement.

	3	
Amendments to the Facility Agreement

In consideration of the agreement of the Lender contained in Clause 1 of this Letter, the Lender consents, pursuant to clause 6.1 of the Facility Agreement, to the postponement of the second Repayment Instalment from 25 September 2017 to 2 October 2017.

The above postponement does not constitute an Event of Default.

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 clause 6.1 thereof in its entirety and replacing it with the following new clause 6.1:

"6.1          Repayment of Loan

Save as previously repaid or prepaid, the outstanding amount of the Loan shall be $[l] and the Borrowers shall repay the Loan in the following instalments on the following dates (all of which shall be a "Repayment Instalment"):

	
Date

	
Repayment Instalment Amount ($)

	
2 October 2017

	
1,552,000

	
27 December 2017

	
1,552,000

	
26 March 2018

	
1,552,000

	
25 June 2018

	
1,552,000

	
25 September 2018

	
1,552,000

	
27 December 2018

	
1,552,000

	
26 March 2019

	
1,552,000

	
25 June 2019

	
1,552,000

	
25 September 2019

	
1,552,000

	
27 December 2019

	
1,552,000

	
26 March 2020

	
1,552,000

	
25 June 2020

	
1,552,000

	
25 September 2020

	
1,552,000

	
28 December 2020

	
30,976,790

"; 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.

	4	
Representations and Warranties

The Borrowers and the Guarantor hereby represent and warrant to the Lender that the representations and warranties contained in clause 19 (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 Clause 3 of this Letter.  This Letter comprises the legal, valid and binding obligations of the Borrowers and the Guarantor enforceable in accordance with its terms.

	5	
Re-affirmation of Facility Agreement

The Borrowers 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.

	6	
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.

	7	
Notices

Clause 33 (Notices) of the Facility Agreement shall extend and apply to this Letter as if the same were (mutatis mutandis) herein expressly set forth.

	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 Borrowers and the Guarantor, hereby, irrevocably appoint 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) 208455 7653, Fax +44 (0) 20 8457 5558, e-mail: 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.

Please confirm your agreement by signing the acknowledgement below.

Yours faithfully

	 

/s/ Borchert

	 

/s/ Koursaris

	
Borchert

for and on behalf of

UniCredit Bank AG

as Lender

	
Koursaris

for and on behalf of

UniCredit Bank AG

as Lender

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

 

/s/ Stamatios Tsantanis

 Stamatios Tsantanis

for and on behalf of

PREMIER MARINE CO.

Date:   25       September 2017

/s/ Stamatios Tsantanis

Stamatios Tsantanis

 for and on behalf of

GLADIATOR SHIPPING CO.

Date:     25      September 2017

/s/ Stamatios Tsantanis

Stamatios Tsantanis

 for and on behalf of

GUARDIAN SHIPPING CO.

Date:      25     September 2017

/s/ Stamatios Tsantanis

Stamatios Tsantanis

 for and on behalf of

SEANERGY MARITIME HOLDINGS CORP.

Date:     25      September 2017

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