Document:

Exhibit 10.21

 

EXECUTION COPY

 

WAIVER AND FIFTH AMENDMENT TO CREDIT AGREEMENT; FIRST AMENDMENT TO PLEDGE AND SECURITY AGREEMENT

 

WAIVER AND FIFTH AMENDMENT TO CREDIT AGREEMENT; FIRST AMENDMENT TO PLEDGE AND SECURITY AGREEMENT (this “Fifth Amendment”), dated as of January 31, 2011, by and among GENERAL MARITIME CORPORATION, a Marshall Islands corporation (the “Parent”), GENERAL MARITIME SUBSIDIARY CORPORATION, a Marshall Islands corporation (the “Borrower”), the Lenders party from time to time to the Credit Agreement referred to below (the “Lenders”), NORDEA BANK FINLAND PLC, NEW YORK BRANCH, as Administrative Agent and Collateral Agent (in such capacities, the “Administrative Agent”), the undersigned pledgors (the “Pledgors”) party to the Pledge Agreement (as defined below), and NORDEA BANK FINLAND PLC, NEW YORK BRANCH, as Pledgee under the Pledge Agreement and Deposit Account Bank (in such capacities, the “Pledgee”).  Unless otherwise defined herein, capitalized terms used herein and defined in the Credit Agreement or Pledge Agreement, as applicable, are used herein as therein defined.

 

W  I  T  N  E  S  S  E  T  H :

 

WHEREAS, the Parent, the Borrower, the Lenders and the Administrative Agent are parties to an Amended and Restated Credit Agreement, dated as of October 20, 2008 and amended on October 27, 2009, December 18, 2009, July 12, 2010 and December 22, 2010 (as further amended, modified and/or supplemented to, but not including, the date hereof, the “Credit Agreement”); and

 

WHEREAS, the Pledgors and the Pledgee are parties to a Pledge and Security Agreement, dated as of October 31, 2005 (as amended, modified and/or supplemented to, but not including, the date hereof, the “Pledge Agreement”); and

 

WHEREAS, subject to the terms and conditions of this Fifth Amendment, the parties hereto wish to amend certain provisions of the Credit Agreement and the Pledge Agreement as herein provided;

 

NOW, THEREFORE, it is agreed:

 

I.              Waiver to Credit Agreement.

 

1.             Notwithstanding anything to the contrary contained in the Credit Agreement, the Required Lenders hereby waive the Borrower’s obligation to deliver the officer’s certificate under Section 9.02(i) in connection with any sale of Mortgaged Vessels on or prior to June 30, 2011 including, without limitation, the Genmar Princess and the Genmar Gulf

 

2.             Notwithstanding anything to the contrary contained in the Credit Agreement, the Required Lenders hereby waive the Minimum Cash Balance covenant set forth in Section 9.07 of the Credit Agreement through February 28, 2011 and any Event of Default under Sections 10.02, 10.03 and/or 10.04 arising therefrom (the “Waiver”); provided that the Waiver shall cease to be of any force or effect on the earlier of (x) February 28, 2011 and (ii) any failure by the Parent to deliver Cash Flow Projections set forth in Section II(1)(B) below for more than one Business Day after written notice thereof from the Administrative Agent to the Parent, after which time

 

 

the failure of the Parent to meet such Minimum Cash Balance covenant shall constitute an immediate Event of Default under the Credit Agreement without regard to this Fifth Amendment.

 

II.            Amendments to Credit Agreement.

 

1.             Section 9.02(i) of the Credit Agreement is hereby amended by (x) deleting the text “provided further that in the case of both clause (x) and (y) above, that the Borrower shall have delivered to the Administrative Agent” appearing in said Section and inserting the text “provided, further, that in the case of both clauses (x) and (y) above, the Borrower shall have delivered to the Administrative Agent (I)” in lieu thereof and (y) inserting the text “and (II) at least three Business Days (or such other period as shall be agreed by the Borrower and the Administrative Agent) prior written notice of the proposed sale, lease or other disposition of a Mortgaged Vessel, which notice shall set forth the expected closing date of such sale, lease or other disposition and the date of the corresponding repayment of Loans and/or reduction of Commitments” immediately preceding the semi-colon “;” at the end of said Section.

 

2.             Section 9.06 of the Credit Agreement is hereby amended by deleting the text “other than in the ordinary course of business and” appearing in said Section and inserting the text “unless” in lieu thereof.

 

III.           Amendments to Pledge Agreement.

 

1.             The definition of “Concentration Accounts” appearing in Section 2 of the Pledge Agreement is hereby amended and restated in its entirety as follows:

 

“Concentration Accounts” shall mean any account held at any time by a Pledgor (including, without limitation, a Pledgor that becomes a party to this Agreement by executing a joinder hereto) into which any earnings constituting Earnings and Insurance Collateral (as defined in the Credit Agreement) are deposited.

 

2.             The definition of “Earnings Collateral” appearing in Section 2 of the Pledge Agreement is hereby amended and restated in its entirety as follows:

 

“Earnings Collateral” shall mean “Earnings and Insurance Collateral” as defined in the Credit Agreement.

 

IV.           Miscellaneous Provisions.

 

1.             In order to induce the Lenders to enter into this Fifth Amendment,

 

(A)          each of the Parent and the Borrower hereby represents and warrants that (i) no Default or Event of Default exists as of the Fifth Amendment Effective Date (as defined below) after giving effect to this Fifth Amendment and (ii) all of the representations and warranties contained in the Credit Agreement and the Pledge Agreement or the other Credit Documents are true and correct in all material respects on the Fifth Amendment Effective Date both before and after giving effect to this Fifth Amendment, with the same effect as though such

 

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representations and warranties had been made on and as of the Fifth 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).

 

(B)           the Parent agrees to deliver, on the Fifth Amendment Effective Date and by no later than Friday of each calendar week thereafter to and including February 25, 2011, cash flow projections for the Parent and its Subsidiaries (the “Cash Flow Projections”) for the 13-week period beginning on the calendar week in which such Cash Flow Projections are due, which Cash Flow Projections shall (i) be based on information available, and projections made, as of the last Business Day of the immediately preceding calendar week and (ii) include a variance report describing in reasonable detail the variance(s) in actual cash flow from projected cash flow for the week ended on such last Business Day.

 

2.             This Fifth Amendment is limited precisely as written and shall not be deemed to (i) be a waiver of or a consent to the modification of or deviation from any other term or condition of the Credit Agreement or the other Credit Documents or any of the other instruments or agreements referred to therein, or (ii) prejudice any right or rights which any of the Lenders or the Administrative Agent now have or may have in the future under or in connection with the Credit Agreement, the Credit Documents or any of the other instruments or agreements referred to therein.

 

3.             This Fifth 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. Delivery of any executed counterpart of this Fifth Amendment by telecopy or electronic mail by any party hereto shall be effective as such party’s original executed counterpart.

 

4.             THIS FIFTH AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

 

5.             This Fifth Amendment shall become effective on the date (the “Fifth Amendment Effective Date”) when (i) the Parent, the Borrower, the Administrative Agent and the 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 pdf, facsimile or other electronic transmission) the same to White & Case LLP, 1155 Avenue of the Americas, New York, NY 10036 Attention: May Yip-Daniels (facsimile number: 212-354-8113 / e-mail address: myip@whitecase.com); (ii) the Borrower shall have paid a non-refundable cash fee of $10,000 to each Lender party hereto, which fee shall be earned by each such Lender on the Fifth Amendment Effective Date and made payable to the Administrative Agent for distribution to such Lenders; (iii) the Borrower shall have paid to the Administrative Agent all outstanding fees and expenses in connection with the Fifth Amendment (including, without limitation, the fees

 

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and expenses of White & Case LLP); and (iv) the Administrative Agent shall have received a copy of a valid waiver, in form and substance reasonably satisfactory to the Administrative Agent, from the Required Lenders under and as defined in each of (i) the Credit Agreement, dated as of July 16, 2010, among the Parent, General Maritime Subsidiary II Corporation, as borrower, the lenders from time to time party thereto and Nordea Bank Finland plc, New York Branch, as administrative agent (as amended from time to time to, but not including, the date hereof) and (ii) the Credit Agreement, dated as of October 4, 2010, among the Parent, Arlington Tankers Ltd., as borrower, the lenders from time to time party thereto and Nordea Bank Finland plc, New York Branch, as administrative agent (as amended from time to time to, but not including, the date hereof), of the minimum cash balance covenants set forth therein and any events of default arising therefrom, which waiver shall in each case be effective in accordance with its terms.

 

6.             The Parent, the Borrower and each Subsidiary Guarantor as debtor, grantor, pledgor or assignor, or in any other similar capacity in which the Parent, the Borrower and each Subsidiary Guarantors grant liens or security interests in their respective property or otherwise act as accommodation party or guarantor, as the case may be, hereby (i) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under each of the Credit Documents to which it is a party (after giving effect hereto) and (ii) to the extent the Parent, the Borrower and each Subsidiary Guarantor granted liens on or security interests in any of its property pursuant to any such Credit Document as security for the Parent, the Borrower and each Subsidiary Guarantor’s Obligations under or with respect to the Credit Documents, ratifies and reaffirms such guarantee and grants of security interests and liens and confirms and agrees that such security interests and liens hereafter secure all of the Obligations as amended hereby.  The Parent, the Borrower and each Subsidiary Guarantor hereby consents to this Fifth Amendment and acknowledges that each of the Credit Documents remains in full force and effect and is hereby ratified and reaffirmed.  Except as otherwise provided herein, the execution of this Fifth Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, constitute a waiver of any provision of any of the Credit Documents or serve to effect a novation of the Obligations.

 

7.             From and after the Fifth 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 on the Fifth Amendment Effective Date.

 

[Signature pages to follow]

 

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

 

 

	
 
    	
GENERAL   MARITIME CORPORATION 
    
	
 
    	
(formerly   General Maritime Corporation),
    
	
 
    	
 
    	
as   the Parent and a Pledgor
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jeffrey D. Pribor
    
	
 
    	
 
    	
Name:
    	
Jeffrey   D. Pribor
    
	
 
    	
 
    	
Title:
    	
Executive   Vice President, Chief Financial
    
	
 
    	
 
    	
Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
GENERAL   MARITIME SUBSIDIARY 
    
	
 
    	
CORPORATION   (formerly General Maritime 
    
	
 
    	
Corporation),
    
	
 
    	
 
    	
as   the Borrower and a Pledgor
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Brian Kerr
    
	
 
    	
 
    	
Name:
    	
Brian   Kerr
    
	
 
    	
 
    	
Title:
    	
Secretary
    
						

 

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
GMR   DAPHNE LLC
    
	
 
    	
GMR   AGAMEMNON LLC
    
	
 
    	
GMR   AJAX LLC
    
	
 
    	
GMR   ALEXANDRA LLC
    
	
 
    	
GMR   ARGUS LLC
    
	
 
    	
GMR   CONSTANTINE LLC
    
	
 
    	
GMR   DEFIANCE LLC
    
	
 
    	
GMR   ELEKTRA LLC
    
	
 
    	
GMR   GEORGE T. LLC
    
	
 
    	
GMR   GULF LLC
    
	
 
    	
GMR   HARRIET G. LLC
    
	
 
    	
GMR   HOPE LLC
    
	
 
    	
GMR   HORN LLC
    
	
 
    	
GMR   KARA G. LLC
    
	
 
    	
GMR   MINOTAUR LLC
    
	
 
    	
GMR   ORION LLC
    
	
 
    	
GMR   PHOENIX LLC
    
	
 
    	
GMR   PRINCESS LLC
    
	
 
    	
GMR   PROGRESS LLC
    
	
 
    	
GMR   REVENGE LLC
    
	
 
    	
GMR   SPYRIDON LLC
    
	
 
    	
GMR   ST. NIKOLAS LLC
    
	
 
    	
GMR   STRENGTH LLC,
    
	
 
    	
as Pledgors and Subsidiary Guarantors
    

 

 

	
 
    	
By:
    	
/s/   Brian Kerr
    
	
 
    	
 
    	
Name:   
    	
Brian   Kerr
    
	
 
    	
 
    	
Title:
    	
Manager
    

 

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
ARLINGTON   TANKERS LTD.
    
	
 
    	
VICTORY   LTD.
    
	
 
    	
COMPANION   LTD.
    
	
 
    	
COMPATRIOT   LTD.
    
	
 
    	
CONSUL   LTD.
    
	
 
    	
GMR   CHARTERING LLC,
    
	
 
    	
as Pledgors and Subsidiary Guarantors
    

 

 

	
 
    	
By:
    	
/s/ Brian Kerr
    
	
 
    	
 
    	
Name:
    	
Brian Kerr
    
	
 
    	
 
    	
Title:
    	
Vice President and Treasurer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
GMR   ADMINISTRATION CORP.,
    
	
 
    	
as a Pledgor and a Subsidiary Guarantor
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   John P. Tavlarios
    
	
 
    	
 
    	
Name:
    	
John   P. Tavlarios
    
	
 
    	
 
    	
Title:
    	
President
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
GENERAL   MARITIME MANAGEMENT LLC,
    
	
 
    	
as a Pledgor and a Subsidiary Guarantor
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Peter Bell
    
	
 
    	
 
    	
Name:
    	
Peter   Bell
    
	
 
    	
 
    	
Title:
    	
Manager &   Commercial Director
    

 

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
GENERAL   MARITIME MANAGEMENT 
    
	
 
    	
(PORTUGAL) LLC,
    
	
 
    	
as a Pledgor and a Subsidiary Guarantor
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Rui Jorge Pais Pereira_
    
	
 
    	
 
    	
Name:
    	
Rui   Jorge Pais Pereira
    
	
 
    	
 
    	
Title:
    	
Manager
    

 

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

 

	
 
    	
THE   COMMON SEAL of
    
	
 
    	
GENERAL   MARITIME CREWING PTE. LTD., as a Pledgor and a Subsidiary Guarantor
    
	
 
    	
was   hereunto affixed by
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ James Edward Paisley
    
	
 
    	
 
    	
Name:
    	
James Edward Paisley
    
	
 
    	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Cher Choon Teck
    
	
 
    	
 
    	
Name:
    	
Cher Choon Teck
    
	
 
    	
 
    	
Title:
    	
Secretary
    

 

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
GENERAL   MARITIME MANAGEMENT
    
	
 
    	
(PORTUGAL),   LDA. and a Subsidiary
    
	
 
    	
Guarantor,
    
	
 
    	
as a Pledgor
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Rui Jorge Pais Pereira
    
	
 
    	
 
    	
Name:
    	
Rui   Jorge Pais Pereira
    
	
 
    	
 
    	
Title:
    	
Manager
    

 

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
LIMITED   “GENERAL MARITIME CREWING”,
    
	
 
    	
as a Pledgor and a Subsidiary Guarantor
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Gennadiy Liventsov
    
	
 
    	
 
    	
Name: 
    	
Gennadiy Liventsov
    
	
 
    	
 
    	
Title:   
    	
Director
    

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
NORDEA   BANK FINLAND PLC, NEW YORK BRANCH,
    
	
 
    	
Individually   and as Administrative Agent, Collateral Agent, Pledgee under the Pledge and   Security Agreement and Deposit Account Bank
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/   Martin Lunder
    
	
 
    	
 
    	
Name:   
    	
Martin   Lunder
    
	
 
    	
 
    	
Title:   
    	
Senior   Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Gerald E. Chelius, Jr.
    
	
 
    	
 
    	
Name:   
    	
Gerald   E. Chelius, Jr.
    
	
 
    	
 
    	
Title:   
    	
SVP   Credit
    

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
SIGNATURE   PAGE TO WAIVER AND FIFTH AMENDMENT TO CREDIT AGREEMENT; FIRST AMENDMENT TO   PLEDGE AND SECURITY AGREEMENT, DATED AS OF THE FIRST DATE WRITTEN ABOVE,   AMONG GENERAL MARITIME CORPORATION, GENERAL MARITIME SUBSIDIARY COPORATION,   THE PLEDGORS PARTY TO THE PLEDGE AND SECURITY AGREEMENT, VARIOUS FINANCIAL   INSTITUTIONS AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE   AGENT, COLLATERAL AGENT, PLEDGEE UNDER THE PLEDGE AND SECURITY AGREEMENT AND   DEPOSIT ACCOUNT BANK
    
	
 
    	
 
    
	
 
    	
NAME   OF INSTITUTION:
    
	
 
    	
 
    
	
 
    	
Allied   Irish Banks, p.l.c.
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Matt Toolan
    
	
 
    	
 
    	
Name:   
    	
Matt   Toolan
    
	
 
    	
 
    	
Title:   
    	
Head   of Infrastructure, London
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
 
    
	
 
    	
 
    	
Name:   
    
	
 
    	
 
    	
Title:   
    

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

SIGNATURE PAGE TO WAIVER AND FIFTH AMENDMENT TO CREDIT AGREEMENT; FIRST AMENDMENT TO PLEDGE AND SECURITY AGREEMENT, DATED AS OF THE FIRST DATE WRITTEN ABOVE, AMONG GENERAL MARITIME CORPORATION, GENERAL MARITIME SUBSIDIARY COPORATION, THE PLEDGORS PARTY TO THE PLEDGE AND SECURITY AGREEMENT, VARIOUS FINANCIAL INSTITUTIONS AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE AGENT, COLLATERAL AGENT, PLEDGEE UNDER THE PLEDGE AND SECURITY AGREEMENT AND DEPOSIT ACCOUNT BANK

 

NAME OF INSTITUTION:

 

BNP PARIBAS

 

BNP Paribas’s approval is subject to the following conditions:

 

1.              The 2001-built VLCC, Genmar Vision, is to be provided as additional collateral (on a first priority mortgage basis) as soon as this vessel becomes unencumbered.

 

2.              The practice of preparing and delivering the 13-week cash flow projections on a weekly basis for the benefit of the lenders is to be continued through year-end 2011.

 

3.              The waiver (concerning the Borrower’s obligation to deliver the officer’s certificate under Section 9.02(i)) should not allow for the waiving of the pro forma compliance on the ‘Collateral Maintenance’ covenant test.

 

	
 
    	
By:   
    	
/s/   Guillaume Deve
    
	
 
    	
 
    	
Name:   
    	
Guillaume   Deve
    
	
 
    	
 
    	
Title:   
    	
Managing   Director
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Kevin O’Hara
    
	
 
    	
 
    	
Name:   
    	
Kevin   O’Hara
    
	
 
    	
 
    	
Title:   
    	
Director
    

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
SIGNATURE   PAGE TO WAIVER AND FIFTH AMENDMENT TO CREDIT AGREEMENT; FIRST AMENDMENT TO   PLEDGE AND SECURITY AGREEMENT, DATED AS OF THE FIRST DATE WRITTEN ABOVE,   AMONG GENERAL MARITIME CORPORATION, GENERAL MARITIME SUBSIDIARY COPORATION,   THE PLEDGORS PARTY TO THE PLEDGE AND SECURITY AGREEMENT, VARIOUS FINANCIAL   INSTITUTIONS AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE   AGENT, COLLATERAL AGENT, PLEDGEE UNDER THE PLEDGE AND SECURITY AGREEMENT AND   DEPOSIT ACCOUNT BANK
    
	
 
    	
 
    
	
 
    	
NAME   OF INSTITUTION:
    
	
 
    	
 
    
	
 
    	
Bank   of Scotland
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Shelley Morrison
    
	
 
    	
 
    	
Name: 
    	
Shelley Morrison
    
	
 
    	
 
    	
Title: 
    	
Associate Director
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
SIGNATURE   PAGE TO WAIVER AND FIFTH AMENDMENT TO CREDIT AGREEMENT; FIRST AMENDMENT TO   PLEDGE AND SECURITY AGREEMENT, DATED AS OF THE FIRST DATE WRITTEN ABOVE,   AMONG GENERAL MARITIME CORPORATION, GENERAL MARITIME SUBSIDIARY COPORATION,   THE PLEDGORS PARTY TO THE PLEDGE AND SECURITY AGREEMENT, VARIOUS FINANCIAL   INSTITUTIONS AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE   AGENT, COLLATERAL AGENT, PLEDGEE UNDER THE PLEDGE AND SECURITY AGREEMENT AND   DEPOSIT ACCOUNT BANK
    
	
 
    	
 
    
	
 
    	
NAME   OF INSTITUTION:
    
	
 
    	
 
    
	
 
    	
CITIBANK   N.A.
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Michael Parker
    
	
 
    	
 
    	
Name:   
    	
Michael   Parker
    
	
 
    	
 
    	
Title:   
    	
Industry   Head, Global Shipping & Logistics
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
N/A
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
SIGNATURE   PAGE TO WAIVER AND FIFTH AMENDMENT TO CREDIT AGREEMENT; FIRST AMENDMENT TO   PLEDGE AND SECURITY AGREEMENT, DATED AS OF THE FIRST DATE WRITTEN ABOVE,   AMONG GENERAL MARITIME CORPORATION, GENERAL MARITIME SUBSIDIARY COPORATION,   THE PLEDGORS PARTY TO THE PLEDGE AND SECURITY AGREEMENT, VARIOUS FINANCIAL   INSTITUTIONS AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE   AGENT, COLLATERAL AGENT, PLEDGEE UNDER THE PLEDGE AND SECURITY AGREEMENT AND   DEPOSIT ACCOUNT BANK
    
	
 
    	
 
    
	
 
    	
NAME   OF INSTITUTION:
    
	
 
    	
 
    
	
 
    	
CREDIT   INDUSTRIEL ET COMMERCIAL,
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Andrew McKuin
    
	
 
    	
 
    	
Name:   
    	
Andrew   McKuin
    
	
 
    	
 
    	
Title:   
    	
Vice   President
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Adrienne Molloy
    
	
 
    	
 
    	
Name:   
    	
Adrienne   Molloy
    
	
 
    	
 
    	
Title:   
    	
Vice   President
    

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
SIGNATURE   PAGE TO WAIVER AND FIFTH AMENDMENT TO CREDIT AGREEMENT; FIRST AMENDMENT TO   PLEDGE AND SECURITY AGREEMENT, DATED AS OF THE FIRST DATE WRITTEN ABOVE,   AMONG GENERAL MARITIME CORPORATION, GENERAL MARITIME SUBSIDIARY COPORATION,   THE PLEDGORS PARTY TO THE PLEDGE AND SECURITY AGREEMENT, VARIOUS FINANCIAL   INSTITUTIONS AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE   AGENT, COLLATERAL AGENT, PLEDGEE UNDER THE PLEDGE AND SECURITY AGREEMENT AND   DEPOSIT ACCOUNT BANK
    
	
 
    	
 
    
	
 
    	
NAME   OF INSTITUTION:
    
	
 
    	
 
    
	
 
    	
DANISH   SHIP FINANCE A/S
    
	
 
    	
(DANMARKS   SKIBSKREDIT A/S)
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Ole Staergaard
    
	
 
    	
 
    	
Name:   
    	
Ole   Staergaard
    
	
 
    	
 
    	
Title:   
    	
Senior   Relationship Manager
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Erik I. Lassen
    
	
 
    	
 
    	
Name:   
    	
Erik   I. Lassen
    
	
 
    	
 
    	
Title:   
    	
CEO
    

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
SIGNATURE   PAGE TO WAIVER AND FIFTH AMENDMENT TO CREDIT AGREEMENT; FIRST AMENDMENT TO   PLEDGE AND SECURITY AGREEMENT, DATED AS OF THE FIRST DATE WRITTEN ABOVE,   AMONG GENERAL MARITIME CORPORATION, GENERAL MARITIME SUBSIDIARY COPORATION,   THE PLEDGORS PARTY TO THE PLEDGE AND SECURITY AGREEMENT, VARIOUS FINANCIAL   INSTITUTIONS AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE   AGENT, COLLATERAL AGENT, PLEDGEE UNDER THE PLEDGE AND SECURITY AGREEMENT AND   DEPOSIT ACCOUNT BANK
    
	
 
    	
 
    
	
 
    	
NAME   OF INSTITUTION:
    
	
 
    	
 
    
	
 
    	
DnB   NOR Bank ASA
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Nikolai A. Nachamkin
    
	
 
    	
 
    	
Name: 
    	
Nikolai A. Nachamkin
    
	
 
    	
 
    	
Title:
    	
Senior Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Cathleen Buckley
    
	
 
    	
 
    	
Name: 
    	
Cathleen Buckley
    
	
 
    	
 
    	
Title: 
    	
Senior Vice President
    

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
SIGNATURE   PAGE TO WAIVER AND FIFTH AMENDMENT TO CREDIT AGREEMENT; FIRST AMENDMENT TO   PLEDGE AND SECURITY AGREEMENT, DATED AS OF THE FIRST DATE WRITTEN ABOVE,   AMONG GENERAL MARITIME CORPORATION, GENERAL MARITIME SUBSIDIARY COPORATION,   THE PLEDGORS PARTY TO THE PLEDGE AND SECURITY AGREEMENT, VARIOUS FINANCIAL   INSTITUTIONS AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE   AGENT, COLLATERAL AGENT, PLEDGEE UNDER THE PLEDGE AND SECURITY AGREEMENT AND   DEPOSIT ACCOUNT BANK
    
	
 
    	
 
    
	
 
    	
NAME   OF INSTITUTION:
    
	
 
    	
 
    
	
 
    	
Lloyds   TSB Bank plc
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Shelley Morrison
    
	
 
    	
 
    	
Name:   
    	
Shelley   Morrison
    
	
 
    	
 
    	
Title:   
    	
Associate   Director
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
SIGNATURE   PAGE TO WAIVER AND FIFTH AMENDMENT TO CREDIT AGREEMENT; FIRST AMENDMENT TO   PLEDGE AND SECURITY AGREEMENT, DATED AS OF THE FIRST DATE WRITTEN ABOVE,   AMONG GENERAL MARITIME CORPORATION, GENERAL MARITIME SUBSIDIARY COPORATION,   THE PLEDGORS PARTY TO THE PLEDGE AND SECURITY AGREEMENT, VARIOUS FINANCIAL   INSTITUTIONS AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE   AGENT, COLLATERAL AGENT, PLEDGEE UNDER THE PLEDGE AND SECURITY AGREEMENT AND   DEPOSIT ACCOUNT BANK
    
	
 
    	
 
    
	
 
    	
NAME   OF INSTITUTION:
    
	
 
    	
 
    
	
 
    	
SANTANDER   UK PLC
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   G A Faulkner
    
	
 
    	
 
    	
Name:   
    	
G   A Faulkner
    
	
 
    	
 
    	
Title:   
    	
Head   of Structured Finance
    

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
SIGNATURE   PAGE TO WAIVER AND FIFTH AMENDMENT TO CREDIT AGREEMENT; FIRST AMENDMENT TO   PLEDGE AND SECURITY AGREEMENT, DATED AS OF THE FIRST DATE WRITTEN ABOVE,   AMONG GENERAL MARITIME CORPORATION, GENERAL MARITIME SUBSIDIARY COPORATION,   THE PLEDGORS PARTY TO THE PLEDGE AND SECURITY AGREEMENT, VARIOUS FINANCIAL   INSTITUTIONS AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE   AGENT, COLLATERAL AGENT, PLEDGEE UNDER THE PLEDGE AND SECURITY AGREEMENT AND   DEPOSIT ACCOUNT BANK
    
	
 
    	
 
    
	
 
    	
NAME   OF INSTITUTION:
    
	
 
    	
 
    
	
 
    	
SKANDINAVISKA   ENSKILDA BANKEN AB (PUBL)
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Roger Gifford
    
	
 
    	
 
    	
Name:   
    	
Roger   Gifford
    
	
 
    	
 
    	
Title:   
    	
Head   of London Branch
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Malcolm Stonehouse
    
	
 
    	
 
    	
Name:   
    	
Malcolm   Stonehouse
    
	
 
    	
 
    	
Title:
    	
 
    

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security Agreement

 

 

	
 
    	
SIGNATURE   PAGE TO WAIVER AND FIFTH AMENDMENT TO CREDIT AGREEMENT; FIRST AMENDMENT TO   PLEDGE AND SECURITY AGREEMENT, DATED AS OF THE FIRST DATE WRITTEN ABOVE,   AMONG GENERAL MARITIME CORPORATION, GENERAL MARITIME SUBSIDIARY COPORATION,   THE PLEDGORS PARTY TO THE PLEDGE AND SECURITY AGREEMENT, VARIOUS FINANCIAL   INSTITUTIONS AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE   AGENT, COLLATERAL AGENT, PLEDGEE UNDER THE PLEDGE AND SECURITY AGREEMENT AND   DEPOSIT ACCOUNT BANK
    
	
 
    	
 
    
	
 
    	
NAME   OF INSTITUTION:
    
	
 
    	
 
    
	
 
    	
UniCredit   Bank AG
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Ulli Gohring
    
	
 
    	
 
    	
Name:   
    	
Ulli   Gohring
    
	
 
    	
 
    	
Title:   
    	
Assistant   Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Torsten Heise
    
	
 
    	
 
    	
Name:   
    	
Torsten   Heise
    
	
 
    	
 
    	
Title:   
    	
Associate   Director
    

 

Signature page to $900M General Maritime Amendment to Amended and Restated Credit Agreement; Pledge and Security AgreementExhibit 10.22

 

EXECUTION COPY

 

WAIVER AND THIRD AMENDMENT TO CREDIT AGREEMENT

 

WAIVER AND THIRD AMENDMENT TO CREDIT AGREEMENT (this “Third Amendment”), dated as of January 31, 2011, by and among GENERAL MARITIME CORPORATION, a Marshall Islands corporation (the “Parent”), GENERAL MARITIME SUBSIDIARY II CORPORATION, a Marshall Islands corporation (the “Borrower”), the Lenders party from time to time to the Credit Agreement referred to below (the “Lenders”) and NORDEA BANK FINLAND PLC, NEW YORK BRANCH, as Administrative Agent (in such capacity, the “Administrative Agent”) and as Collateral Agent. Unless otherwise defined herein, capitalized terms used herein and defined in the Credit Agreement are used herein as therein defined.

 

W  I  T  N  E  S  S  E  T  H:

 

WHEREAS, the Parent, the Borrower, the Lenders and the Administrative Agent are parties to an Credit Agreement, dated as of July 16, 2010 and amended on September 29, 2010 and December 22, 2010 (as further 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 Third Amendment, the parties hereto wish to amend certain provisions of the Credit Agreement as herein provided;

 

NOW, THEREFORE, it is agreed:

 

I.            Waiver to Credit Agreement.

 

1.             Notwithstanding anything to the contrary contained in the Credit Agreement, the Required Lenders hereby waive the Minimum Cash Balance covenant set forth in Section 9.07 of the Credit Agreement through February 28, 2011 and any Event of Default under Sections 10.02, 10.03 and/or 10.04 arising therefrom (the “Waiver”); provided that the Waiver shall cease to be of any force or effect on the earlier of (x) February 28, 2011 and (ii) any failure by the Parent to deliver Cash Flow Projections set forth in Section III(1)(B) below for more than one Business Day after written notice thereof from the Administrative Agent to the Parent, after which time the failure of the Parent to meet such Minimum Cash Balance covenant shall constitute an immediate Event of Default under the Credit Agreement without regard to this Third Amendment.

 

II.           Amendments to Credit Agreement.

 

1.             Section 9.02(i) of the Credit Agreement is hereby amended by (x) inserting the text “(I)” immediately preceding the text “an officer’s certificate” in the second proviso of said Section and (y) inserting the text “and (II) at least three Business Days (or such other period as shall be agreed by the Borrower and the Administrative Agent) prior written notice of the proposed sale, lease or other disposition of a Mortgaged Vessel, which notice shall set forth the expected closing date of such sale, lease or other disposition and the date of the corresponding repayment of Loans and/or reduction of Commitments” immediately preceding the semi-colon “;” at the end of said Section.

 

 

III.           Miscellaneous Provisions.

 

1.             In order to induce the Lenders to enter into this Third Amendment:

 

(A)    each of the Parent and the Borrower hereby represents and warrants that (i) other than any Event of Default that has been disclosed by the Parent or any of its Subsidiaries in writing to the Lenders prior to the date hereof, no Default or Event of Default exists as of the Third Effective Date (as defined below) after giving effect to this Third Amendment and (ii) all of the representations and warranties contained in the Credit Agreement or the other Credit Documents are true and correct in all material respects on the Third Amendment Effective Date both before and after giving effect to this Third Amendment, with the same effect as though such representations and warranties had been made on and as of the Third 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), and

 

(B)    the Parent agrees to deliver, on the Third Amendment Effective Date and by no later than Friday of each calendar week thereafter to and including February 25, 2011, cash flow projections for the Parent and its Subsidiaries (the “Cash Flow Projections”) for the 13-week period beginning on the calendar week in which such Cash Flow Projections are due, which Cash Flow Projections shall (i) be based on information available, and projections made, as of the last Business Day of the immediately preceding calendar week and (ii) include a variance report describing in reasonable detail the variance(s) in actual cash flow from projected cash flow for the week ended on such last Business Day.

 

2.             This Third Amendment is limited precisely as written and shall not be deemed to (i) be a waiver of or a consent to the modification of or deviation from any other term or condition of the Credit Agreement or the other Credit Documents or any of the other instruments or agreements referred to therein, or (ii) prejudice any right or rights which any of the Lenders or the Administrative Agent now have or may have in the future under or in connection with the Credit Agreement, the Credit Documents or any of the other instruments or agreements referred to therein.

 

3.             This Third 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. Delivery of any executed counterpart of this Third Amendment by telecopy or electronic mail by any party hereto shall be effective as such party’s original executed counterpart.

 

4.             THIS THIRD AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

 

 

5.             This Third Amendment shall become effective on the date (the “Third Amendment Effective Date”) when (i) the Parent, the Borrower, the Administrative Agent and the 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 pdf, facsimile or other electronic transmission) the same to White & Case LLP, 1155 Avenue of the Americas, New York, NY 10036 Attention: May Yip-Daniels (facsimile number: 212-354-8113 / e-mail address: myip@whitecase.com); (ii) the Borrower shall have paid a non-refundable cash fee of $10,000 to ITF International Transport Finance Suisse AG and NIBC Bank N.V., each a Lender under the Credit Agreement, which fee shall be earned by each such Lenders on the Third Amendment Effective Date and made payable to the Administrative Agent for distribution to such Lenders; (iii) the Borrower shall have paid to the Administrative Agent all outstanding fees and expenses in connection with the Third Amendment (including, without limitation, the fees and expenses of White & Case LLP); and (iv) the Administrative Agent shall have received a copy of a valid waiver, in form and substance reasonably satisfactory to the Administrative Agent, from the Required Lenders under and as defined in each of (i) the 2008 Credit Agreement and (ii) the Credit Agreement, dated as of October 4, 2010, among the Parent, Arlington Tankers Ltd., as borrower, the lenders from time to time party thereto and Nordea Bank Finland plc, New York Branch, as administrative agent (as amended from time to time to, but not including, the date hereof), of the minimum cash balance covenants set forth therein and any events of default arising therefrom, which waiver shall in each case be effective in accordance with its terms.

 

6.             The Parent, the Borrower and each Subsidiary Guarantor as debtor, grantor, pledgor or assignor, or in any other similar capacity in which the Parent, the Borrower and each Subsidiary Guarantors grant liens or security interests in their respective property or otherwise act as accommodation party or guarantor, as the case may be, hereby (i) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under each of the Credit Documents to which it is a party (after giving effect hereto) and (ii) to the extent the Parent, the Borrower and each Subsidiary Guarantor granted liens on or security interests in any of its property pursuant to any such Credit Document as security for the Parent, the Borrower and each Subsidiary Guarantor’s Obligations under or with respect to the Credit Documents, ratifies and reaffirms such guarantee and grants of security interests and liens and confirms and agrees that such security interests and liens hereafter secure all of the Obligations as amended hereby. The Parent, the Borrower and each Subsidiary Guarantor hereby consents to this Third Amendment and acknowledges that each of the Credit Documents remains in full force and effect and is hereby ratified and reaffirmed. Except as otherwise provided herein, the execution of this Third Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, constitute a waiver of any provision of any of the Credit Documents or serve to effect a novation of the Obligations.

 

7.             From and after the Third 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 on the Third Amendment Effective Date.

 

*      *      *

 

 

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

 

 

	
 
    	
GENERAL MARITIME CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jeffrey D. Pribor
    
	
 
    	
 
    	
Name:
    	
Jeffrey D. Pribor
    
	
 
    	
 
    	
Title:
    	
Executive Vice President, Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
GENERAL MARITIME SUBSIDIARY II CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Brian Kerr
    
	
 
    	
 
    	
Name:
    	
Brian Kerr
    
	
 
    	
 
    	
Title:
    	
Secretary
    

 

 

By executing and delivering a copy hereof, each Subsidiary Guarantor hereby acknowledges and agrees that all Guaranteed Obligations of the Subsidiary Guarantors shall be fully guaranteed pursuant to the Subsidiaries Guaranty and shall be fully secured pursuant to the Security Documents, in each case in accordance with the respective terms and provisions thereof. Each of the undersigned, each being a Subsidiary Guarantor under, and as defined in, the Credit Agreement referenced in the foregoing Third Amendment, hereby consents to the entering into of the Third Amendment and agrees to the provisions thereof.

 

 

	
 
    	
Acknowledged and Agreed by:
    
	
 
    	
 
    
	
 
    	
GMR ATLAS LLC
    
	
 
    	
GMR HERCULES LLC
   GMR MANIATE LLC
   GMR POSEIDON LLC
   GMR ULYSSES LLC
   GMR ZEUS LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Brian Kerr
    
	
 
    	
 
    	
Name:
    	
Brian Kerr
    
	
 
    	
 
    	
Title:
    	
Manager
    

 

 

	
 
    	
NORDEA BANK FINLAND PLC, NEW YORK BRANCH,
    
	
 
    	
 
    	
Individually and as Administrative Agent and Collateral Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Martin Lunder
    
	
 
    	
 
    	
Name:
    	
Martin Lunder
    
	
 
    	
 
    	
Title:
    	
Senior Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Gerald E.   Chelius, Jr.
    
	
 
    	
 
    	
Name:
    	
Gerald E. Chelius, Jr.
    
	
 
    	
 
    	
Title:
    	
SVP Credit
    

 

 

	
 
    	
SIGNATURE PAGE TO THE WAIVER AND THIRD AMENDMENT TO CREDIT AGREEMENT,   DATED AS OF THE FIRST DATE WRITTEN ABOVE, AMONG GENERAL MARITIME CORPORATION,   GENERAL MARITIME SUBSIDIARY II CORPORATION, VARIOUS FINANCIAL INSTITUTIONS   AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE AGENT AND   COLLATERAL AGENT
    
	
 
    	
 
    
	
 
    	
NAME OF INSTITUTION:
    
	
 
    	
 
    
	
 
    	
DnB NOR Bank ASA
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Nikolai A. Nachamkin
    
	
 
    	
 
    	
Name:
    	
Nikolai A. Nachamkin
    
	
 
    	
 
    	
Title: 
    	
Senior Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Cathleen Buckley
    
	
 
    	
 
    	
Name:
    	
Cathleen Buckley
    
	
 
    	
 
    	
Title:
    	
Senior Vice President
    

 

 

	
 
    	
SIGNATURE PAGE TO THE WAIVER AND THIRD AMENDMENT TO CREDIT AGREEMENT,   DATED AS OF THE FIRST DATE WRITTEN ABOVE, AMONG GENERAL MARITIME CORPORATION,   GENERAL MARITIME SUBSIDIARY II CORPORATION, VARIOUS FINANCIAL INSTITUTIONS   AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE AGENT AND   COLLATERAL AGENT
    
	
 
    	
 
    
	
 
    	
NAME OF INSTITUTION:
    
	
 
    	
 
    
	
 
    	
CITIBANK N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Michael Parker
    
	
 
    	
 
    	
Name:
    	
Michael Parker
    
	
 
    	
 
    	
Title:
    	
Industry Head, Global Shipping & Logistics
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
Title:
    	
 
    
					

 

 

	
 
    	
SIGNATURE PAGE TO THE WAIVER AND THIRD AMENDMENT TO CREDIT AGREEMENT,   DATED AS OF THE FIRST DATE WRITTEN ABOVE, AMONG GENERAL MARITIME CORPORATION,   GENERAL MARITIME SUBSIDIARY II CORPORATION, VARIOUS FINANCIAL INSTITUTIONS   AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE AGENT AND   COLLATERAL AGENT
    
	
 
    	
 
    
	
 
    	
NAME OF INSTITUTION:
    
	
 
    	
 
    
	
 
    	
ITF INTERNATIONAL TRANSPORT FINANCE SUISSE AG
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ralf Pabst
    
	
 
    	
 
    	
Name:
    	
Ralf Pabst
    
	
 
    	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Alexander Schaffert 
    
	
 
    	
 
    	
Name:
    	
Alexander Schaffert
    
	
 
    	
 
    	
Title:
    	
Vice President
    

 

 

	
 
    	
SIGNATURE PAGE TO THE WAIVER AND THIRD AMENDMENT TO CREDIT AGREEMENT,   DATED AS OF THE FIRST DATE WRITTEN ABOVE, AMONG GENERAL MARITIME CORPORATION,   GENERAL MARITIME SUBSIDIARY II CORPORATION, VARIOUS FINANCIAL INSTITUTIONS   AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE AGENT AND   COLLATERAL AGENT
    
	
 
    	
 
    
	
 
    	
NAME OF INSTITUTION:
    
	
 
    	
 
    
	
 
    	
NIBC Bank N.V.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Robert Jan Souge 
    
	
 
    	
 
    	
Name:
    	
Robbert Jan Souge
    
	
 
    	
 
    	
Title:
    	
Director
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Maurice Wijmans
    
	
 
    	
 
    	
Name:
    	
Maurice Wijmans
    
	
 
    	
 
    	
Title:
    	
Director

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