Document:

Supplemental Agreement No. 3, dated January 29, 2010

 Exhibit 4.56 
 EXECUTION VERSION 
 SUPPLEMENTAL AGREEMENT NO. 3 
 29 JANUARY 2010 
 DRILLSHIP KITHIRA OWNERS INC. 
 as Owner 
 DEUTSCHE BANK AG, LONDON BRANCH 
 as Bookrunner and
Joint Mandated Lead Arranger 
 DEXIA CRÉDIT LOCAL, NEW YORK BRANCH 
 as Joint Mandated Lead Arranger 
 DEUTSCHE BANK AG, LONDON BRANCH 
 and 
 DEXIA CRÉDIT LOCAL, NEW YORK BRANCH 
 as Swap Banks 
 DEUTSCHE BANK LUXEMBOURG S.A. 
 as Facility Agent 
 and 
 DEUTSCHE BANK AG FILIALE DEUTSCHLANDGESCHÄFT 
 as Security Trustee 
 Relating to 
 US$562,500,000 CREDIT FACILITY AGREEMENT 
 Dated 18 July 2008 
 as amended and supplemented by Supplemental Agreement dated 17 September 2008 and 
 the Supplemental Agreement No. 2 dated 18 December 2008 

 

 

 Allen & Overy LLP 
 London 

 CONTENTS 
  

			
	 	  	Page
	Clause	  	
		
	 1.      Definitions and Interpretation
	  	1
	 2.      Amendments to the Credit Agreement
	  	2
	 3.      Termination of the Swap Consent Letter
	  	5
	 4.      Termination of the Financial Covenant Consent Letter
	  	5
	 5.      Representations and Warranties
	  	5
	 6.      Miscellaneous
	  	5
	 7.      Reservation of rights
	  	5
	 8.      Further Assurance
	  	6
	 9.      Governing Law and Jurisdiction
	  	6
	 10.    Counterparts
	  	6
		
	 Schedule
	  	
		
	 1.      Condition Precedent Documents
	  	7
	 2.      Form of Effective Date Notice
	  	9
		
	 Signatories
	  	10

 THIS AGREEMENT is dated 29 January 2010 and is made 
 BETWEEN: 
  

	(1)	DRILLSHIP KITHIRA OWNERS INC., a corporation incorporated in the Marshall Islands with registered address at Trust Company Complex, Ajeltake Road, Ajeltake
Island, Majuro, Marshall Islands MH 96960 as borrower (the Owner); 

  

	(2)	DEUTSCHE BANK AG, LONDON BRANCH as bookrunner and joint mandated lead arranger and bookrunner (in this capacity the Bookrunner and Joint Mandated Lead
Arranger); 

  

	(3)	DEXIA CRÉDIT LOCAL, NEW YORK BRANCH as joint mandated lead arranger (in this capacity the Joint Mandated Lead Arranger); 

 

	(4)	DEUTSCHE BANK AG, LONDON BRANCH as swap bank (in this capacity a Swap Bank); 

  

	(5)	DEXIA CRÉDIT LOCAL, NEW YORK BRANCH as swap bank (in this capacity a Swap Bank); 

  

	(6)	DEUTSCHE BANK LUXEMBOURG S.A., as facility agent and acting on behalf of the Finance Parties (as defined in the Credit Agreement) (the Facility Agent);
and 

  

	(7)	DEUTSCHE BANK AG FILIALE DEUTSCHLANDGESCHÄFT as security trustee (in this capacity the Security Trustee). 

 WHEREAS: 
  

	(A)	By the credit facility agreement dated 18 July 2008 as amended and supplemented by a supplemental agreement dated 17 September 2008 and the supplemental
agreement No. 2 dated 18 December 2008 between, inter alia, the Owner as the Borrower, the financial institutions referred to therein as Lenders, Deutsche Bank AG, London Branch as Bookrunner and Joint Mandated Lead Arranger, Dexia
Crédit Local, New York Branch as Joint Mandated Lead Arranger, Deutsche Bank AG, London Branch and Dexia Crédit Local, New York Branch as Swap Banks, Deutsche Bank Luxembourg S.A. as the Facility Agent and Deutsche Bank AG Filiale
Deutschlandgeschäft as the Security Trustee, (the Credit Agreement), the Lenders have made available to the Owner secured credit facilities up to US$562,500,000. 

  

	(B)	The Parties wish to amend the Credit Agreement in accordance with the provisions of this Agreement. 

 IT IS AGREED as follows: 
  

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	Definitions 

  

	(a)	In this Agreement: 

 Conditions Precedent Documents means the documents set out in Schedule 1 (Condition Precedent Documents) to this Agreement. 
 Effective Date means the date when the Facility Agent notifies me Owner and the Lenders in the form of notice set out in Schedule 2 (Form of Effective Date Notice) that it has received all of the
Conditions Precedent Documents in form and substance satisfactory to the Facility Agent. 
  

 1 

 Financial Covenant Consent Letter means the consent letter dated 5 June 2009
from the Facility Agent and the Security Trustee to the Owner and the Sponsor whereby the Facility Agent and the Security Trustee waived the financial covenants set out clauses in 7.14 (a) and 7.14 (c) of the Sponsor Construction and
Post-Delivery Guarantee and the Event of Default under the Credit Agreement resulting from the breach of those financial covenants, all on the terms and subject to the conditions of the consent letter. 
 Swap Consent Letter means the consent letter dated 11 February 2009 from the Facility Agent to the Owner and the Sponsor whereby
the Facility Agent consented to the Owner entering into New Swap Agreements (as defined therein) and incurring Financial Indebtedness on the terms and subject to the conditions of the consent letter. 
  

	(b)	Unless a contrary indication appears, a term used in the Credit Agreement has the same meaning in this Agreement 

  

	1.2	Construction 

 The
principles of construction set out in Clause 1.2 of the Credit Agreement shall have effect as if set out in this Agreement. 
  

	2.	AMENDMENTS TO THE CREDIT AGREEMENT 

 As of and with effect from the Effective Date, the Credit Agreement shall, without prejudice to the other provisions of this Agreement, be amended as follows: 
  

	 	(a)	by amending the definition of Drilling Charter Cut-off Date in Clause 1.1 of the Credit Agreement so that it reads as follows: 

 “Drilling Charter Cut-off Date means the earlier of (a) 30 April 2011 and (b) the Delivery Date of the
Vessel.”; 
  

	 	(b)	by inserting a new definition “Vessel Drilling Charter Date” in Clause 1.1 of the Credit Agreement to read as follows: 

 “Vessel Drilling Charter Date means the date upon which the Owner (i) enters into a Five Year Drilling Charter in respect of
the Vessel which satisfies the other requirements set out for a Drilling Charter under Clause 16.22 of this Agreement and (ii) satisfies the provisions of Clause 16.22 (b) of this Agreement.”; 
  

	 	(c)	by inserting a new definition “Vessel and Sister Vessel Drilling Charter Date” in Clause 1.1 of the Credit Agreement to read as follows:

 “Vessel and Sister Vessel Drilling Charter Date” means the date upon which a Drilling Charter
and a Sister Drilling Charter have been entered into and: 
  

	 	(a)	the Drilling Charter is a Five Year Drilling Charter and the Sister Drilling Charter is a Sister Five Year Drilling Charter; or 

  

	 	(b)	the Drilling Charter is a Five Year Drilling Charter and the Sister Drilling Charter is a Sister Three Year Drilling Charter; or 

  

	 	(c)	the Drilling Charter is a Three Year Drilling Charter and the Sister Drilling Charter is a Sister Five Year Drilling Charter, 

  

 2 

 and provided further that the Drilling Charter and the Sister Drilling Charter
(i) satisfy the other requirements set out for a Drilling Charter and a Sister Drilling Charter under Clause 16.22 of this Agreement and clause 16.22 of the Sister Loan Agreement, respectively and (ii) satisfy the provisions of Clause
16.22 (b) of this Agreement and clause 16.22 (b) of the Sister Loan Agreement, respectively.”; 
  

	 	(d)	by amending Clause 22(a) of the Credit Agreement so that it reads as follows: 

  

	 	“(a)	financing or refinancing the cost of construction of the Vessel pursuant to the Shipbuilding Contract;”; 

  

	 	(e)	by amending Clause 4.2(a)(i) of the Credit Agreement so that it reads as follows: 

  

	 	“(i)	for an Instalment Loan (other than the Delivery Loan), is the date on which the corresponding Instalment is payable under the terms of the Shipbuilding Contract or, in
the case of an Instalment Loan which is to be used to refinance an Instalment, is a date after the date on which the Owner has paid the corresponding Instalment to the Builder under the Shipbuilding Contract;”; 

  

	 	(f)	by amending Clause 4.2(c)(i) of the Credit Agreement so that it reads as follows: 

  

	 	“(i)	if either 

  

	 	(A)	the Vessel Drilling Charter Date has occurred at least ten (10) Business Days prior to the relevant Utilisation Date; or 

  

	 	(B)	if a Drilling Charter and a Sister Drilling Charter has been entered into ten (10) Business Days prior to the relevant Utilisation Date; and 

 

	 	(I)	the Drilling Charter is a Five Year Drilling Charter and the Sister Drilling Charter is a Sister Five Year Drilling Charter, or 

  

	 	(II)	the Drilling Charter is a Five Year Drilling Chatter and the Sister Drilling Charter is a Sister Three Year Drilling Charter; or 

  

	 	(III)	the Drilling Charter is a Three Year Drilling Charter and the Sister Drilling Charter is a Sister Five Year Drilling Charter, 

 a percentage of the Scheduled Instalment Amount or, as applicable the Approved Incidental Vessel Costs (in each case determined by the
Facility Agent) to be derived from an iterative process in a manner that the expected LTC Ratio at the Utilisation Date following the advance of the Loan equals zero point seven (0.7); or”; 
  

	 	(g)	by amending Clause 12.2(a)(iii)(C) of the Credit Agreement so that it reads as follows: 

  

	 	“(C)	on or prior to the earlier to occur of the Vessel and Sister Vessel Drilling Charter Date and the Drilling Charter Cut-off Date, an aggregate amount equal to all
anticipated Equity Contributions to be made until the Final Completion Date in accordance with the relevant Approved Budget;”; 

  

 3 

	 	(h)	by amending Clause 12.2(d) of the Credit Agreement so that it reads as follows: 

  

	 	“(d)	The balance of the Equity Account shall at all times prior to the earlier to occur of the Vessel and Sister Vessel Drilling Charter Date and the Drilling Charter
Cut-off Date be at least equal to the Loans drawn under this Agreement as at the relevant time. If the balance of the Equity Account falls at any time below the amount of the Loans drawn, the Owner shall immediately pay, or procure that there is
paid into the Equity Account such amount as shall restore the credit balance of the Equity Account to an amount equal to the aggregate amount of the Loans drawn under this Agreement as at that time, provided that if the Vessel and Sister Vessel
Drilling Charter Date has occurred and no Event of Default or Mandatory Prepayment Event has occurred and is continuing, the funds standing to the credit of the Equity Account (other than the anticipated Equity Contributions paid into the Equity
Account in accordance with Clause 12.2 (a) (iii) (C)) shall be released to the Owner or to its order.”; 

  

	 	(i)	by amending Clause 12.2(e)(ii) of the Credit Agreement so that it reads as follows: 

  

	 	“(ii)	on each Utilisation Date, after the proceeds of the relevant Loan have been credited, sufficient amounts from the Proceeds Account to (A) any account specified by
the Builder to be applied to make Instalment payments or, in the case that the relevant Loan is to be used to refinance the Instalment payment already paid to the Builder by the Owner, any account specified by the Owner, and (B) the account
nominated by the Facility Agent, to be applied to part of the Incidental Costs Loan as does not relate to Incidental Vessel Costs, and (C) any account specified by the Owner to be applied towards such other items or costs as are Included in the
Vessel Cost,”; 

  

	 	(j)	by amending Clause 12.8(a) of the Credit Agreement so that it reads as follows: 

  

	 	“(a)	The Owner shall pay, or procure that there is paid to the Debt Service Reserve Account on or prior to the earlier to occur of the Vessel and Sister Vessel Drilling
Charter Date and the Drilling Charter Cut-off Date an amount equal to US$25,000,000.”; 

  

	 	(k)	by amending paragraph 5 of Part 3, Schedule 2 to the Credit Agreement so that it reads as follows: 

  

	 	“5.	Evidence that (i) the Vessel Drilling Charter Date has occurred or (ii) the Vessel and Sister Vessel Drilling Charter Date has occurred”;

  

	 	(l)	by amending paragraph 6 of Part 3, Schedule 2 to the Credit Agreement so that it reads as follows: 

  

	 	“6.	A certified copy of the invoice issued by the Builder in relation to the Instalment payable by the Owner on the Instalment Loan 2 Utilisation Date or, if the Instalment
Loan is to be used to refinance the Instalment, the invoice issued by the Builder in relation to the Instalment referred to in Article II paragraph 4(c) of the Shipbuilding Contract together with evidence in writing that the Owner has paid the
relevant Instalment to the Builder.”; 

  

	 	(m)	by amending paragraph 7 of Part 3, Schedule 2 to the Credit Agreement so that it reads as follows: 

  

	 	“7.	If the Vessel and Sister Vessel Drilling Charter Date has occurred, evidence from the Equity Account Bank that the required Equity Collateral has been placed in the
Equity Account in accordance with Clause 12.2(a)(iii)(C).” 

  

 4 

	 	(n)	by amending paragraph 8 of Part 3, Schedule 2 to the Credit Agreement so that it reads as follows: 

  

	 	“8.	If the Vessel and Sister Vessel Drilling Charter Date has occurred, evidence from the Account Bank that the amount of US$25,000,000 has been paid into the Debt Service
Reserve Account in accordance with Clause 12.8(a).”; and 

  

	 	(o)	by amending paragraph 5 of Part 4, Schedule 2 to the Credit Agreement so that it reads as follows: 

  

	 	“5.	A certified copy of the invoice issued by the Builder in relation to the Instalment payable by the Owner on the Instalment Loan 3 Utilisation Date or, if the Instalment
Loan is to be used to refinance the Instalment, the invoice issued by the Builder in relation to the Instalment referred to in Article II paragraph 4(d) of the Shipbuilding Contract together with evidence in writing that the Owner has paid the
relevant Instalment to the Builder.”. 

  

	3.	TERMINATION OF THE SWAP CONSENT LETTER 

 The Parties agree and confirm that as of and with effect from the date of this Agreement, the Swap Consent Letter shall be terminated and all consents given thereunder shall be revoked. The Owner confirms
that it has not entered into any New Swap Agreement (as defined in the Swap Consent Letter). 
  

	4.	TERMINATION OF THE FINANCIAL COVENANT CONSENT LETTER 

 The Parties agree and confirm that as of and with effect from the date of this Agreement, the Financial Covenant Consent Letter shall be terminated and all waivers and consents given thereunder shall be
revoked. 
  

	5.	REPRESENTATIONS AND WARRANTIES 

 The representations and warranties set out in Clause 14 (Representations and Warranties) of the Credit Agreement are true as if made on the date of this Agreement and on the Effective Date, in each case as if references to the Credit
Agreement are references to the Credit Agreement as amended by this Agreement, with reference to the facts and circumstances then existing. 
  

	6.	MISCELLANEOUS 

  

	 	(a)	This Agreement and the Credit Agreement as amended by this Agreement are each a Finance Document. 

  

	 	(b)	Subject to the terms of this Agreement, the Credit Agreement will remain in full force and effect and, from the date of this Agreement, the Credit Agreement and this
Agreement will be read and construed as one document. 

  

	7.	RESERVATION OF RIGHTS 

 Each Finance Party reserves any other right or remedy (whether under the Finance Documents, at law or otherwise) it may have now or subsequently. This Agreement does not constitute a waiver of any right or remedy other than those which are
expressly waived or amended in accordance with this Agreement and then only on the terms and subject to the conditions contained in this Agreement. 
  

 5 

	8.	FURTHER ASSURANCE 

 Each
of the Parties hereto shall do all such acts and things necessary or desirable to give effect to the amendments effected or to be effected pursuant to this Agreement. 
  

	9.	GOVERNING LAW AND JURISDICTION 

 The provisions of Clause 35 (Governing Law) and Clause 36 (Enforcement) of the Credit Agreement shall be incorporated in this Agreement as if they were set out in full in this Agreement and as if references in that Clause to “this
Agreement” are references to this Agreement. 
  

	10.	COUNTERPARTS 

 This
Agreement may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument. 
 THIS AGREEMENT has been entered into on the date stated at the beginning of this Agreement. 
  

 6 

 SCHEDULE 1 
 CONDITION PRECEDENT DOCUMENTS 
  

	1.	Refresh certificates or, as the case may be confirmation and satisfactory evidence of continued compliance with the conditions precedent referred to in Part 1 of
Schedule 2 to the Credit Agreement at paragraphs 1, 3, 18, 19 and 21. 

  

	2.	An up to date certificate of goodstanding of Ocean Rig UDW Inc. and a confirmation that its constitutional documents remain in full force and effect and have not been
amended, repealed or superseded since they were previously provided to the Facility Agent or the Security Trustee. 

  

	3.	A certified copy of a resolution of the board of directors and shareholder of the Owner: 

  

	 	(a)	approving the terms of, and the transactions contemplated by this Agreement and resolving that it executes this Agreement; 

  

	 	(b)	authorising a specified person or persons to execute this Agreement on its behalf; and 

  

	 	(c)	authorising a specified person or persons, on its behalf, to sign and/or despatch all other documents and notices to be signed and/or despatched by it under or in
connection with this Agreement. 

  

	4.	A certified copy of a resolution of the board of directors and shareholders of the Sister Owner, the Parent, the Sister Parent, the Parent Shareholder and Ocean Rig UDW
Inc. (together, the Related Parties) approving the terms of, and the transactions contemplated by this Agreement and confirming that the Finance Documents and the Sister Finance Documents to which they are a party remain in full force and
effect and approving the execution of the certificate referred to in paragraph 5 below. 

  

	5.	A pdf-copy of the certificate (with original to follow within five (5) Business Days from the date of this Agreement) from the Owner and the Related Patties
addressed to the Facility Agent and the Security Trustee confirming that the Finance Documents and the Sister Finance Documents to which they are a party remain in full force and effect. 

  

	6.	A certified copy of a resolution of the board of directors of the Sponsor approving the terms of, and the transactions contemplated by this Agreement and confirming
that the Sponsor Construction and Post-Delivery Guarantee remains in full force and effect and approving the execution of the certificate referred to in paragraph 4 below. 

  

	7.	A pdf-copy of the certificate (with original to follow within five (5) Business Days from the date of this Agreement) from the Sponsor addressed to the Facility
Agent and the Security Trustee acknowledging and confirming (i) that the Sponsor Construction and Post-Delivery Guarantee remains in full force and effect, (ii) the termination of the Swap Consent Letter and (iii) the termination of
the Financial Covenant Consent Letter. 

  

	8.	A pdf-copy of this Agreement, notarised, legalised and/or apostilled as necessary, duly executed by all parties (with original to follow within five (5) Business
Days from the date of this Agreement). 

  

	9.	A pdf-copy of an amendment agreement to the GIEK Guarantee (with original to follow within five (5) Business Days from the date of this Agreement), addressed in
favour of the Eksportfinans Lenders, notarised, legalised and/or apostilled as necessary, duly executed by all parties. 

  

 7 

	10.	A legal opinion of Seward & Kissel LLP, Marshall Islands legal advisers to the Lenders, addressed to the Facility Agent as agent for and on behalf of itself
and the Lenders. 

  

	11.	A legal opinion of Allen & Overy LLP, London, English legal advisers to the Lenders, addressed to the Facility Agent as agent for and on behalf of the Lenders.

  

	12.	A legal opinion of Allen & Overy LLP, London, English legal advisers to GIEK, addressed to Eksportfinans and concerning certain provisions of the amended GIEK
Guarantee. 

  

	13.	Receipt by the Facility Agent of such other documents which, based on legal advice from the relevant legal advisers, are necessary to evidence the legality, validity
and enforceability of the obligations of the Owner to this Agreement or the continuing legality, validity and enforceability of any obligor to any other Finance Document. 

  

 8 

 SCHEDULE 2 
 FORM OF EFFECTIVE DATE NOTICE 
 To: 
 Drillship Kithira Owners, Inc. (as Owner) 
 and 
 the Lenders referred to in Schedule 1 to the Credit Agreement (as defined below) 
 Date:[—] January 2010 
 Dear Sirs, 
 We refer to a supplemental agreement No. 3 dated [—] January 2010 (the Supplemental Agreement) relating to US$562,500,000 credit agreement dated 18 July 2008 (as amended and supplemented pursuant to the supplemental agreement dated
17 September 2008 and the supplemental agreement No. 2 dated 18 December 2008, the Credit Agreement) between, among others, Drillship Kithira Owners Inc. as the Owner, the Lenders referred to in Schedule 1 to the Credit
Agreement and ourselves as the Facility Agent. 
 Capitalised terms in the Credit Agreement shall have the same meaning herein, save where
expressly defined otherwise. 
 This is to notify you that the Effective Date as defined in the Supplemental Agreement has occurred on the date
of this notice. 
 Yours sincerely, 
  

					
	 DEUTSCHE BANK LUXEMBOURG S.A.
 as the Facility Agent
	 		  	
			
	  
	 		  	  

	By:	 		  	By:

  

 9 

 SIGNATORIES 
 DRILLSHIP KITHIRA OWNERS INC. – SUPPLEMENTAL AGREEMENT No. 3 
  

					
	Owner	 		  	
			
	 SIGNED by
 as attorney
for
	 		  	
	 DRILLSHIP KITHIRA OWNERS INC.
  
 in the presence of: /s/ Illegible
 Witness:

	 		  	  
 /s/ Stelios N. Deverakis
 STELIOS N. DEVERAKIS

			
	The Bookrunner and Joint Mandated Lead Arranger	 		  	
			
	By:	 		  	
			
	 as authorised signatory for
 DEUTSCHE BANK AG, LONDON BRANCH
	 		  	
			
	The Joint Mandated Lead Arranger	 		  	
			
	By:	 		  	
			
	 as authorised signatory for
 DEXIA CRÉDIT LOCAL, NEW YORK BRANCH
	 		  	
			
	The Swap Banks	 		  	
			
	By:	 		  	
			
	 as authorised signatory for
 DEUTSCHE BANK AG, LONDON BRANCH
	 		  	
			
	By:	 		  	
			
	 as authorised signatory for
 DEXIA CRÉDIT LOCAL, NEW YORK BRANCH
	 		  	

  

 10 

 SIGNATORIES 
 DRILLSHIP KITHIRA OWNERS INC. – SUPPLEMENTAL AGREEMENT No. 3 
  

					
	Owner	 		  	
			
	 SIGNED by
 as attorney
for
	 		  	
	 DRILLSHIP KITHIRA OWNERS INC.
 in the presence of:
	 		  	
			
	Witness:	 		  	
			
	The Bookrunner and Joint Mandated Lead Arranger	 		  	
			
	By: /s/ Illegible	 		  	/s/ Illegible
			
	as authorised signatory for	 		  	
	DEUTSCHE BANK AG, LONDON BRANCH	 		  	
			
	The Joint Mandated Lead Arranger	 		  	
			
	By:	 		  	
			
	as authorised signatory for	 		  	
	DEXIA CRÉDIT LOCAL, NEW YORK BRANCH	 		  	
			
	The Swap Banks	 		  	
			
	By: /s/ Illegible	 		  	/s/ Illegible
			
	as authorised signatory for	 		  	
	DEUTSCHE BANK AG, LONDON BRANCH	 		  	
			
	By:	 		  	
			
	as authorised signatory for	 		  	
	DEXIA CRÉDIT LOCAL, NEW YORK BRANCH	 		  	

  

 10 

 SIGNATORIES 
 DRILLSHIP KITHIRA OWNERS INC. – SUPPLEMENTAL AGREEMENT No. 3 
  

							
	Owner	 		  	
			
	 SIGNED by
 as attorney for
	 		  	
	 DRILLSHIP KITHIRA OWNERS INC.
 in the presence of:
	 		  	
			
	Witness:	 		  	
			
	The Bookrunner and Joint Mandated Lead Arranger	 		  	
			
	By:	 		  	
			
	as authorised signatory for	 		  	
	DEUTSCHE BANK AG, LONDON BRANCH	 		  	
			
	The Joint Mandated Lead Arranger	 		  	
				
	By	 	/s/ Brian T. Caldwell	 		  	/s/ Fransisco Dasas
			
	as authorised signatory for	 		  	
	DEXIA CRÉDIT LOCAL, NEW YORK BRANCH	 		  	
			
	The Swap Banks	 		  	
				
	By:	 		 		  	
			
	as authorised signatory for	 		  	
	DEUTSCHE BANK AG, LONDON BRANCH	 		  	
				
	By:	 	/s/ Brian T. Caldwell	 		  	/s/ Fransisco Dasas
			
	as authorised signatory for	 		  	
	DEXIA CRÉDIT LOCAL, NEW YORK BRANCH	 		  	

  

 10 

	
	The Facility Agent
	
	acting on its own behalf and on behalf of the Finance Parties
	
	By: /s/ Illegible
	
	as authorised signatory for
	DEUTSCHE BANK LUXEMBOURG S.A.
	
	The Security Trustee
	
	By:
	
	as authorised signatory for
	DEUTSCHE BANK AG FILIALE DEUTSCHLANDGESCHÄFT

  

 11 

	
	The Facility Agent
	
	acting on its own behalf and on behalf of the Finance Parties
	
	By:
	
	as authorised signatory for
	DEUTSCHE BANK LUXEMBOURG S.A.
	
	The Security Trustee
	
	By: /s/ Illegible
	
	as authorised signatory for
	DEUTSCHE BANK AG FILIALE DEUTSCHLANDGESCHÄFT

  

 11Addendum No. 1, dated December 19, 2008

 Exhibit 4.58 
 December 2008 
 ADDENDUM NO. 1 
 to 
 GUARANTEE,
REVOLVING CREDIT AND TERM LOAN FACILITY AGREEMENT 
 dated 17 September 2008 
 between 
 OCEAN RIG
ASA 
 and 
 OCEAN RIG NORWAY AS 
 as borrowers 
 OCEAN RIG ASA 
 OCEAN RIG NORWAY AS 
 OCEAN RIG 1 AS 
 OCEAN
RIG 2 AS 
 OCEAN RIG NORTH SEA AS 
 and 
 OCEAN RIG USA LLC 
 as original guarantors 
 THE FINANCIAL INSTITUTIONS

 listed in Schedule I 
 as banks 
 DNB NOR BANK ASA 
 as guarantee bank 
 DNB NOR BANK ASA 
 as mandated lead arranger and bookrunner 
 and 
 HSH NORDBANK AG 
 NORDEA BANK NORGE ASA 
 and 
 SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) 
 as mandated lead arrangers 
 DNB NOR BANK ASA 
 as agent 

 

 

 2/2 
 THIS ADDENDUM NO. 1 to the USD 1,040,000,000 Guarantee, Revolving Credit and Term Loan Facility Agreement dated 17 September 2008 (the “Facility Agreement”) is made on
December 2008 between: 
  

	(1)	OCEAN RIG ASA, org. no. NO 976 769 643, Vestre Svanholmen nr. 6, Forus, N-4313 Sandnes, Norway and OCEAN RIG NORWAY AS, org. no. NO 879 750 172, Vestre
Svanholmen nr. 6, Forus, N-4313 Sandnes, Norway (“OR Norway”) as borrowers (the “Borrowers”); 

  

	(2)	OCEAN RIG ASA, org. no. NO 976 769 643, Vestre Svanholmen nr. 6, Forus, N-4313 Sandnes, Norway, OCEAN RIG NORWAY AS, org. no. NO 879 750 172, Vestre
Svanholmen nr. 6, Forus, N-4313 Sandnes, Norway, OCEAN RIG 1 AS, org. no. NO 979 750 188, Vestre Svanholmen nr. 6, Forus, N-4313 Sandnes, Norway, OCEAN RIG 2 AS, org. no. NO 979 750 196, Vestre Svanholmen nr. 6, Forus, N-4313 Sandnes,
Norway and OCEAN RIG NORTH SEA AS, org. no. NO 992 250 941, Vestre Svanholmen nr. 6, Forus, N-4313 Sandnes, Norway as original guarantors (the “Original Guarantors”); 

  

	(3)	THE FINANCIAL INSTITUTIONS parties hereto as banks (the “Banks”); 

  

	(4)	DNB NOR BANK ASA, Stranden 21, N-0021 Oslo, Norway as guarantee bank (the “Guarantee Bank”); 

  

	(5)	DNB NOR BANK ASA, Stranden 21, N-0021 Oslo, Norway as mandated lead arranger and bookrunner and HSH NORBANK AG, Gerhart-Hauptmann-Platz 50, D-20095
Hamburg, Germany, NORDEA BANK NORGE ASA, Middelthunsgate 17, N-0368 Oslo, Norway and SKANDINAVISKA ENSKILDA BANKEN AB (PUBL), SE-106 40 Stockholm, Sweden as mandated lead arrangers (the “Arrangers”); and

  

	(6)	DNB NOR BANK ASA, Stranden 21, N-0021 Oslo, Norway as agent and security trustee (the “Agent”). 

 WHEREAS 
  

	(A)	Each Finance Party, by its signature to this Addendum No. 1, hereby releases Ocean Rig USA LLC from its obligations as guarantor under the Facility Agreement;

  

	(B)	the Parties have agreed to make certain amendments to the Facility Agreement in relation to the reconstruction of the Group permitted pursuant to paragraph (b) of
Clause 22.19 (Merger and reconstruction restrictions) of the Facility Agreement, such reconstruction more closely described in more detail in the letter dated 19 November 2008 from the Parent to the Agent; 

 IT IS HEREBY AGREED AS FOLLOWS: 
  

	1.	The wording of the following definitions in Clause 1.1 (Definitions) of the Facility Agreement shall be deleted in their entirety and replaced with the following
wording: 

 ““First Equipment Charge” 
 means a first priority all asset security, or such other security over moveable assets required by the Agent (acting on the instructions
of the Majority Banks) granted or to be granted by each Owner in favour of the Agent as security for the obligations of the relevant Owner under the Finance Documents in relation to the Senior Facilities. 

 3/3 
 “Letter of Credit” 
 means the irrevocable standby
letter of credit in the amount of USD 20,000,000 issued by the Guarantee Bank in favour of the Beneficiary on 14 March 2008 under the Existing Guarantee Facility Agreement to support payments by the Owner of the relevant Unit under the New
Eirik Raude Qualifying Contract, and deemed to be issued under the Guarantee Facility on and from the date the Agent has given notice to the Borrowers and the Banks pursuant to Clause 3.1 (Documentary conditions precedent), as amended, substituted
or re-executed. 
 “New Eirik Raude Qualifying Contract” 
 means the form of contract for the provision of semi-submersible drilling unit “Eirik Raude” and associated
drilling services dated 15 February 2008 entered into by the Owner thereof with Tullow Oil Plc, 3rd Floor – Building 11, Chiswick Park, 566 Chiswick High Road, London W4 5YS, England at an initial daily rate of USD 580,000 and an average daily rate of USD 605,760 (net of any withholding tax,
mobilisation costs and other deductions), and as assigned, transferred and/or novated to Ocean Rig Ghana Limited. 
 “Owner” 
 means each of the registered owners of the Units from time to time.

 “Second Equipment Charge” 
 means a second priority all asset security, or such other security over moveable assets required by the Agent (acting on the instructions
of the Majority Banks) granted or to be granted by each Owner in favour of the Agent as security for the obligations of the relevant Owner under the Finance Documents in relation to the Junior Facilities.” 
  

	2.	The wording of paragraph (d) of Clause 2.4 (Purpose and application) of the Facility Agreement shall be deleted in its entirety and replaced with the
following wording: 

 “The purpose of the Guarantee Facility is to maintain the Letter of Credit issued in
favour of the Beneficiary on behalf of and for the account of the Borrowers to support payments by Ocean Rig 2 AS and/or Ocean Rig Ghana Limited under the New Eirik Raude Qualifying Contract.” 
  

	3.	The following Clause 37.2 (Service of process) shall be inserted in the Facility Agreement: 

 “Service of process 
 Without prejudice to any other mode of service, each Obligor:- 
  

	 	(i)	irrevocably appoints Ocean Rig AS of Vestre Svanholmen nr. 6, Forus, N-4313 Sandnes, Norway, as its agent for service of process relating to any proceedings before
the Norwegian courts in connection with any Finance Document; 

  

	 	(ii)	agrees that failure by its process agent to notify it of the process will not invalidate the proceedings concerned; and 

  

	 	(iii)	consents to the service of process to any such proceedings before the Norwegian courts by prepaid posting of a copy of the process to its address set out in this
Agreement or any Accession Agreement to which it is a party, or its address at any later time notified to the Agent in writing,” 

 4/4 
  

	4.	Each Obligor represents and warrants to each Finance Party that the representations and warranties in Clause 21 (Representations and warranties) of the Facility
Agreement remain true and correct and that no Event of Default has occurred or will occur as a consequence of the entering into of this Addendum No. 1 or the compliance herewith. 

  

	5.	The Borrowers shall upon demand pay to the Agent the amount of all reasonable costs and expenses (including external legal fees) properly incurred by the Agent in
connection with the negotiation, preparation, printing, execution and registration of this Addendum No. 1, any other documents referred to in this Addendum No. 1. 

  

	6.	This Addendum No. 1 and the amendments of the Facility Agreement agreed herein (other than Clause 5 hereof, which shall become effective on the date hereof) shall
become effective on the date the Agent has notified the Borrower and the Lenders that it has received all of the documents set out in Schedule 1 in a form and substance satisfactory to the Agent, or on such earlier date as may be determined by the
Agent (acting on the instructions of the Majority Banks) and notified to the Borrowers and the Banks in writing (the “Effective Date”). 

  

	7.	Words and expressions used herein shall have the same meaning when used herein as set out in the Facility Agreement unless expressly set out herein or the context
otherwise requires. 

  

	8.	Except as expressly modified by this Addendum No. 1, all terms and provisions of the Facility Agreement shall remain in full force and effect and are hereby
ratified and confirmed in all respects by the parties as if herein set forth in their entirety. All references in the Facility Agreement to “this Agreement”, “hereof”, “hereby”, “hereto”, and the like shall,
upon execution and delivery of this Addendum No. 1, mean the Facility Agreement as hereby amended. 

  

	9.	The courts of Norway have exclusive jurisdiction to settle any dispute arising out of or in connection with this Addendum No. I (including a dispute regarding the
existence, validity or termination of this Agreement) (a “Dispute”), and any Dispute shall be referred to Oslo district court as the court of first instance. 

 This Clause 9 is for the benefit of the Finance Parties only. As a result, no Finance Party shall be prevented from taking proceedings
relating to a Dispute in any other courts with jurisdiction. To the extent allowed by law, the Finance Parties may take concurrent proceedings in any number of jurisdictions. 
 This Addendum No. 1 shall be governed by Norwegian law. 
 [The remainder of this page has been left intentionally blank] 

 5/5 
 SCHEDULE 1 
 CONDITIONS PRECEDENT DOCUMENTS 
  

	1.	In respect of each of the Obligors, certified copies or originals of: 

  

	 	(a)	its articles of association; 

  

	 	(b)	a certificate of registration; 

  

	 	(c)	a resolution of its board of directors authorising it to execute this Addendum No. 1; 

  

	 	(d)	if not included in the resolutions referred to in paragraph (c) above, a power of attorney to its representatives for the execution and registration of this
Addendum No. 1; and 

  

	 	(e)	such other documents and evidence as the Agent (or any Bank through the Agent) shall from time to time require, based on law and regulations applicable from time to
time and the Banks’ own internal guidelines applicable from time to time to identify the Borrowers and the other Obligors, including the ultimate legal and beneficial owner or owners of such entities, and any other persons involved or affected
by the transaction(s) contemplated by this Agreement. 

  

	2.	Certified copies of all approvals, authorisations and consents required by any government or other authority in order for each of the Obligors to enter into and perform
its obligations under this Addendum No. 1. 

  

	3.	Favourable legal opinions in form and substance satisfactory to the Agent from lawyers appointed by the Agent on matters concerning all relevant jurisdictions.

 6/6 
 SIGNATORIES 
  

			
	
	The Borrowers:
	
	Ocean Rig ASA
		
	By:	 	/s/ Jan Rune Steinsland
	Name:	 	JAN RUNE STEINSLAND
	Title:	 	CFO
	
	Ocean Rig Norway AS
		
	By:	 	 /s/ Jan Rune Steinsland

	Name:	 	JAN RUNE STEINSLAND
	Title:	 	CHAIRMAN
	
	The Original Guarantors:
	
	Ocean Rig ASA
		
	By:	 	/s/ Jan Rune Steinsland
	Name:	 	JAN RUNE STEINSLAND
	Title:	 	CFO
	
	Ocean Rig Norway AS
		
	By:	 	/s/ Jan Rune Steinsland
	Name:	 	JAN RUNE STEINSLAND
	Title:	 	CHAIRMAN
	
	Ocean Rig 1 AS
		
	By:	 	/s/ Jan Rune Steinsland
	Name:	 	JAN RUNE STEINSLAND
	Title:	 	CHAIRMAN
	
	Ocean Rig 2 AS
		
	By:	 	/s/ Jan Rune Steinsland
	Name:	 	JAN RUNE STEINSLAND
	Title:	 	CHAIRMAN
	
	Ocean Rig North Sea AS
		
	By:	 	/s/ Jan Rune Steinsland
	Name:	 	JAN RUNE STEINSLAND
	Title:	 	CHAIRMAN

 7/8 
  

			
	
	The Banks:
	
	DnB NOR Bank ASA
		
	By:	 	/s/ Johan Rasmussen
	Name:	 	Johan Rasmussen
	Title:	 	Attorney-in-fact
	
	HSH Nordbank AG
		
	By:	 	/s/ Johan Rasmussen
	Name:	 	Johan Rasmussen
	Title:	 	Attorney-in-fact
	
	Nordea Bank Norge ASA
		
	By:	 	/s/ Johan Rasmussen
	Name:	 	Johan Rasmussen
	Title:	 	Attorney-in-fact
	
	Skandinaviska Enskilda Banken AB (publ)
		
	By:	 	/s/ Johan Rasmussen
	Name:	 	Johan Rasmussen
	Title:	 	Attorney-in-fact
	
	DVB Bank N.V. Nordic Branch
		
	By:	 	/s/ Johan Rasmussen
	Name:	 	Johan Rasmussen
	Title:	 	Attorney-in-fact
	
	Deutsche Schiffsbank Aktiengesellschaft
		
	By:	 	/s/ Johan Rasmussen
	Name:	 	Johan Rasmussen
	Title:	 	Attorney-in-fact
	
	Natixis
		
	By:	 	/s/ Johan Rasmussen
	Name:	 	Johan Rasmussen
	Title:	 	Attorney-in-fact
	
	National Bank of Greece S.A.
		
	By:	 	/s/ Johan Rasmussen
	Name:	 	Johan Rasmussen
	Title:	 	Attorney-in-fact

 8/8 
  

			
	
	The Guarantee Bank:
	
	DnB NOR Bank ASA
		
	By:	 	/s/ Johan Rasmussen
	Name:	 	Johan Rasmussen
	Title:	 	Attorney-in-fact
	
	The Arrangers:
	
	DnB NOR Bank ASA
		
	By:	 	/s/ Johan Rasmussen
	Name:	 	Johan Rasmussen
	Title:	 	Attorney-in-fact
	
	HSH NordbankAG
		
	By:	 	/s/ Johan Rasmussen
	Name:	 	Johan Rasmussen
	Title:	 	Attorney-in-fact
	
	Nordea Bank Norge ASA
		
	By:	 	/s/ Johan Rasmussen
	Name:	 	Johan Rasmussen
	Title:	 	Attorney-in-fact
	
	Skandinaviska Enskilda Banken AB (publ)
		
	By:	 	/s/ Johan Rasmussen
	Name:	 	Johan Rasmussen
	Title:	 	Attorney-in-fact
	
	The Agent:
	
	DnB NOR Bank ASA
		
	By:	 	/s/ Johan Rasmussen
	Name:	 	Johan Rasmussen
	Title:	 	Attorney-in-fact

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}]]