Document:

EX-10.1.1

 Exhibit 10.1.1 
  

 
 Date 27th July 2017 

OLYMPIA II NAVIGATION LIMITED 
 SUI
AN NAVIGATION LIMITED 
 PINGEL NAVIGATION LIMITED 

EBBA NAVIGATION LIMITED 
 and 

CLAN NAVIGATION LIMITED 
 as
Borrowers 
 and 
 ABN AMRO BANK
N.V. 
 as a Lender 
 and 

ABN AMRO BANK N.V. 
 as Lead
Arranger, Agent and Security Trustee 
  
  

SUPPLEMENTAL AGREEMENT 
  

 
 in relation to a Facility Agreement

 dated as of 30 May 2008 
 as
amended and supplemented by 
 an Amending and Restating Deed dated 9 June 2010, 

and by supplemental agreements 

dated 20 May 2013, 13 March 2014 and 30 June 2017 

INCE & CO 
 PIRAEUS 

 INDEX 
  

							
	Clause	  	Page	 
			
	 1.
	  	 INTERPRETATION
	  	 	3	 
			
	 2.
	  	 AGREEMENT OF THE CREDITOR PARTIES
	  	 	5	 
			
	 3.
	  	 CONDITIONS PRECEDENT
	  	 	5	 
			
	 4.
	  	 REPRESENTATIONS AND WARRANTIES
	  	 	6	 
			
	 5.
	  	 AMENDMENTS TO FACILITY AGREEMENT AND OTHER FINANCE DOCUMENTS
	  	 	6	 
			
	 6.
	  	 FURTHER ASSURANCES
	  	 	10	 
			
	 7.
	  	 FEES AND EXPENSES
	  	 	11	 
			
	 8.
	  	 NOTICES
	  	 	11	 
			
	 9.
	  	 SUPPLEMENTAL
	  	 	11	 
			
	 10.
	  	 LAW AND JURISDICTION
	  	 	11	 

 THIS SUPPLEMENTAL AGREEMENT is made on 27th July 2017 

BETWEEN 
  

	(1)	OLYMPIA II NAVIGATION LIMITED, SUI AN NAVIGATION LIMITED, PINGEL NAVIGATION LIMITED, EBBA NAVIGATION LIMITED and CLAN NAVIGATION LIMITED, as joint and several Borrowers; 

 

	(2)	ABN AMRO BANK N.V. as Lenders; and 

  

	(3)	ABN AMRO BANK N.V. as Agent, Security Trustee and Lead Arranger . 

 BACKGROUND 

 

	(A)	By a facility agreement dated 30 May 2008 (the “Original Agreement” as amended and supplemented by an Amending and Restating Deed dated 9 June 2010, and by supplemental agreements dated
20 May 2013, 13 March 2014 and 30 June 2017, together, the “Facility Agreement”) and made between the parties hereto the Lenders have made available to the Borrowers a loan, of which USD37,500,000 is outstanding at the date
hereof. 

  

	(B)	The Borrowers have requested the Creditor Parties to agree to additional security to be granted in the Security Trustee’s favor. 

 

	(C)	This Supplemental Agreement sets out the terms and conditions on which the Creditor Parties agree to consent to the matters referred to at (B) above. 

IT IS AGREED as follows: 
  

	1.	INTERPRETATION 

  

	1.1	Defined expressions. Words and expressions defined in the Facility Agreement and the other Finance Documents shall have the same meanings when used in this Supplemental Agreement unless the context otherwise
requires. 

  

	1.2	Definitions. In this Supplemental Agreement, unless the contrary intention appears: 

“Effective Date” means the date on which the Agent issues the Effective Date Notice; 

“Effective Date Notice” means the written confirmation from the Agent to the Borrowers that the Agent has received the
documents and evidence specified in clause 3.1 in form and substance satisfactory to it in the form of Appendix 1 to this Supplemental Agreement; 

“Facility Agreement” means the Facility Agreement referred to in Recital (A); 

“Management Agreement” means, in respect of each New Ship, a management agreement made or to be made between the Approved
Manager and the relevant New Guarantor in such form and substance acceptable to the Agent acting with the authorisation of the Majority Lenders and “Management Agreements” means all of them collectively; 

 “New Co-assured Assignment of
Insurances” means, in relation to a New Ship, an assignment of Insurances from a named co-assured in such New Ship’s Insurances in the Agreed Form and “New
Co-assured Assignments of Insurances” means all of them collectively; 
 “New
Facility Agreement” means the loan agreement made or to be made between (i) the Corporate Guarantor as borrower and (ii) ABN AMRO Bank N.Y. as lenders, agent and security trustee; 

“New General Assignment” means, in relation to a New Ship, a general assignment of its Earnings, Insurances and Requisition
Compensation in the Agreed Form and “New General Assignments” means all of them collectively; 
 “New
Guarantee” means each guarantee executed or to be executed by a New Guarantor in favour of the Security Trustee in the Agreed Form and “New Guarantees” means all of them collectively; 

“New Guarantor” means each or, as the context may require, any one ofNew Guarantor A, New Guarantor B, New Guarantor C, New
Guarantor D, New Guarantor E, New Guarantor F or New Guarantor G and “New Guarantors” means all of them collectively; 

“New Manager’s Undertaking” means, in relation to a New Ship, a letter of undertaking incorporating an assignment of
Insurances from the Approved Manager in the Agreed Form and “New Manager’s Undertakings” means all of them collectively; 

“New Mortgage” means, in relation to a New Ship, the second preferred ship mortgage on such New Ship under the relevant
Approved Flag in the Agreed Form and “New Mortgages” means all of them collectively; 
 “New Security
Documents” means together the New Guarantees, the New Mortgages, the New General Assignments, the New Manager’s Undertakings and the New Co-assured Assignments of Insurances and “New
Security Document” means any one of them; 
 “New Ship” means each of Ship H, Ship I, Ship J, Ship K, Ship L, Ship
M and Ship N and “New Ships” means all of them collectively; and 
 “Obligors” means together the
Borrowers, the New Guarantors, the Collateral Guarantors and the Approved Manager and “Obligor” means any one of them. 
  

	1.3	Application of construction and Interpretation provisions of Facility Agreement. Clauses 1.3 to 1.7 (inclusive) of the Facility Agreement apply, with any necessary modifications, to this Supplemental Agreement.

  
 4 

	2.	AGREEMENT OF THE CREDITOR PARTIES 

  

	2.1	Creditor Parties’ consent. The Creditor Parties hereby agree to amend the Facility Agreement on condition that: 

  

	2.1.1	the Agent, or its authorised representative, has received the documents and evidence specified in Clause 3.1 in form and substance satisfactory to the Agent; and 

 

	2.1.2	the representations and warranties contained in clause 4 are then true and correct as if each was made with respect to the facts and circumstances existing at such time. 

 

	3.	CONDITIONS PRECEDENT 

  

	3.1	Conditions precedent. The conditions referred to in Clause 2.1.1 are that the Agent shall have received the following documents: 

 

	3.1.1	Corporate authorities: 

  

	 	(i)	duly legalized resolutions of the directors and shareholders of the Obligors approving such of this Supplemental Agreement and the New Security Documents to which they are respectively a party and authorising the
execution and delivery thereof and performance of their obligations thereunder, additionally certified by an officer of such Obligor as having been duly passed at a duly convened meeting of its directors and not having been amended, modified or
revoked and being in full force and effect; 

  

	 	(ii)	duly legalized originals of any powers of attorney issued by the Obligors pursuant to such resolutions; 

  

	 	(iii)	a duly legalized certificate from a duly authorised officer of each Obligor confirming that (a) none of the constitutional documents and the corporate authorities delivered to the Agent pursuant to the terms and
conditions of the Facility Agreement have been amended or modified in any way since the date of their delivery to the Agent and that these (as applicable) remain in full force and effect or (i) copies, certified by a duly authorised officer of
such relevant company as true, complete, accurate and neither amended nor revoked, of any constitutional documents which have been amended or modified and/or (ii) original duly executed and legalized board and shareholders’ resolutions (if
required) along with the necessary powers of attorney to replace any corporate authorisations which no longer remain in full force and effect and provide for the due execution of any of the acknowledgment to this Supplemental Agreement or any other
documents required in connection thereto and (b) setting out the names of the directors, officers and share capital of the relevant company; and 

  

	 	(iv)	evidence of due execution of the New Co-assured Assignment of Insurances by the co-assured in relation to Ship I, Ship L and Ship M;

  
 5 

	3.1.2	Certificate of incumbency: a list of directors and officers and shareholders/members of the Obligors, specifying the names and positions of such persons, certified by an officer of the relevant Obligor, as the
case may be to be true, complete and up to date; 

  

	3.1.3	Laws of the Marshall Islands – opinion: a form of opinion of Messrs Reeder & Simpson special legal advisers to the Agent on Marshall Islands law in a form acceptable to the Agent; 

 

	3.1.4	Laws of England/Wales – opinion: a form of opinion of Messrs Ince & Co, special legal advisers to the Agent on English law in a form acceptable to the Agent; 

 

	3.1.5	Acknowledgment: an acknowledgement (in a letter or otherwise) signed by the Corporate Guarantor, the Collateral Guarantors, the Shareholder and the Approved Manager in such form as the Agent may require in its
sole discretion acknowledging the terms of this Supplemental Agreement; 

  

	3.1.6	London agent: documentary evidence that the agent for service of process namely HFW Nominees Ltd at present of Friary Court, 65 Crutched Friars, London EC3N 2AE, England has accepted its appointment in respect of
this Supplemental Agreement; 

  

	3.1.7	Further opinions, etc.: any further opinions, consents, agreements and documents in connection with this Supplemental Agreement and the Finance Documents which the Agent (acting on the instructions of the
Majority Lenders) may request by notice to the Borrowers. 

  

	3.2	If the Agent issues the Effective Date Notice prior to delivery to it of any of the documents and evidence set out in clause 3.1, the Borrowers must deliver all outstanding documents and evidence to or to the order of
the Agent no later than the date specified by the Agent, and issue by the Agent of the Effective Date Notice prior to delivery to it of all such documents and evidence shall not be construed as a waiver of the Creditor Parties’ right to receive
all the documents and evidence required by clauses 3.1 and 3.3. 

  

	4.	REPRESENTATIONS AND WARRANTIES 

  

	4.1	Repetition of Facility Agreement representations and warranties. The Borrowers represent and warrant to each Creditor Party that the representations and warranties in Clause 10 of the Facility Agreement, as
amended and supplemented by this Supplemental Agreement and updated with appropriate modifications to refer to this Supplemental Agreement, remain true and not misleading if repeated on the date of this Supplemental Agreement with reference to the
circumstances now existing. 

  

	5.	AMENDMENTS TO FACILITY AGREEMENT AND OTHER FINANCE DOCUMENTS 

  

	5.1	Amendments to Facility Agreement. With effect on and from the Effective Date the Facility Agreement shall be, and shall be deemed by this Supplemental Agreement to be, amended as follows: 

 

	5.1.1	the definitions contained in Clause 1.2 (other than the definition of “Effective Date”, “Effective Date Notice”, “Facility Agreement”, “Management Agreement” and
“Obligors”) of this Supplemental Agreement shall be added to clause 1.1 of the Facility Agreement; 

  
 6 

	5.1.2	the definitions in the Schedule to this Supplemental Agreement shall be added to Schedule 6 of the Facility Agreement; 

  

	5.1.3	the New Security Documents shall be added in the definition of “Finance Documents” in clause 1.1 of the Facility Agreement; 

 

	5.1.4	the New Guarantors shall be added in the definition of “Security Parties” in clause 1.1 of the Facility Agreement; 

 

	5.1.5	the definition of “Ship” in clause 1.1 of the Facility Agreement shall be deleted and be replaced as follows: 

““Ship” means each or, as the context may otherwise require, any of (a) Ship A, Ship B, Ship C, Ship D, ShipE
and Ship F, (b) following her acquisition by the relevant Collateral Guarantor Ship G and (c) following their acquisition by the relevant New Guarantor, the Relevant New Ship (and “Ships” means all of them
collectively);” 
  

	5.1.6	where the context so admits, all references to the term “Ships” (however defined) in the Facility Agreement and the Finance Documents, shall be read and construed as if they were references to
the relevant Ship in relation to the relevant Borrower, the relevant Collateral Ship in relation to the relevant Collateral Owner and the relevant New Ship in relation to the relevant New Guarantor and references to the relevant Borrower shall
include references to the relevant Collateral Owner and New Guarantor (in each case where the context admits) in relation to the relevant Collateral Ship and the relevant New Ship respectively; 

 

	5.1.7	where the context so admits, all references to the term “Mortgage” (however defined) in the Facility Agreement and the Finance Documents, shall be read and construed as including the plural of such term or as
referring to each “Mortgage”, as if they were references to each Mortgage in respect of each Ship, to each Collateral Mortgage in respect of each Collateral Ship and to each New Mortgage in respect of each New Guarantor; 

 

	5.1.8	by adding a new Clause 11.26 as follows: 

 “11.26 The Borrowers undertake that upon an
Advance (as defined in the New Facility Agreement) being made available under the New Facility Agreement, the Borrowers shall procure that, in relation to the New Ship being financed by that Advance, they shall deliver or to cause to be delivered to
the Agent the following documents in connection with the relevant Ship and the relevant New Guarantor (as applicable): 
  

	(a)	Corporate authorities 

  
 7 

	 	(i)	a duly legalized certificate from the relevant New Guarantor and the Approved Manager confirming that (a) none of the constitutional documents and the corporate authorities delivered to the Agent pursuant to the
terms and conditions of this Supplemental Agreement have been amended or modified in any way since the date of their delivery to the Agent and that these (as applicable) remain in full force and effect or (i) copies, certified by a duly
authorised officer of such relevant company as true, complete, accurate and neither amended nor revoked, of any constitutional documents which have been amended or modified and/or (ii) original duly executed and legalized board and
shareholders’ resolutions (if required) along with the necessary powers of attorney to replace any corporate authorisations which no longer remain in full force and effect and provide for the due execution of any of the New Security Documents
to which each is a party or any other documents required in connection thereto and (b) setting out the names of the directors, officers and share capital of the relevant company; and 

 

	 	(ii)	evidence of due execution of the New Co-assured Assignment of lnsurances by the co-assured in connection with the relevant New Ship;

  

	(b)	Certificate of good standing: a certificate of good standing in respect of the relevant New Guarantor; 

  

	(c)	New Security Documents: the New Security Documents in respect of the relevant New Ship duly executed, delivered and (as applicable) registered together with all other documents required by any of them, including,
without limitation, all notices of assignment and evidence that those notices will be duly acknowledged by the recipients; 

  

	(d)	New Mortgage: evidence satisfactory to the Agent that the relevant New Ship is owned by the relevant New Guarantor and free of registered Security Interests save for a first preferred mortgage in favour of the
Security Trustee and the relevant New Mortgage; 

  

	(e)	Management Agreement: a certified true copy of the Management Agreement in respect of the relevant New Ship; 

  

	(f)	Insurances: 

  

	 	(i)	evidence that each relevant New Ship is insured in the manner required by the relevant New Security Documents and (ii) receipt of letters of undertaking duly issued in respect of the insurances as required by the
relevant New Security Documents and confirmation satisfactory to the Agent that such letters of undertaking will be given, (iii) receipt of copies of the relevant policies or cover notes or entry certificates duly endorsed with the interest of
the Security Trustee and confirmation satisfactory to the Agent that such endorsement will be provided and (iv) (if required by the Agent) the written approval of the Insurances by an insurance adviser appointed by the Agent; 

 

	(g)	Laws of the Marshall Islands – opinion: a form of opinion of Messrs Reeder & Simpson special legal advisers to the Agent on Marshall Islands law in a form acceptable to the Agent; 

  
 8 

	(h)	Laws of England/Wales – opinion: a form of opinion of Messrs. Ince & Co, special legal advisers to the Agent on English law in a form acceptable to the Agent; 

 

	(i)	London agent: a letter of acceptance by the agent for service of process namely HFW Nominees Ltd at present of Friary Court, 65 Crutched Friars, London EC3N 2AE, England in respect of its appointment in
connection with the relevant New Security Documents; and 

  

	(j)	Further opinions, etc.: any further opinions, consents, agreements and documents in connection with this Supplemental Agreement, the Finance Documents and the New Security Documents which the Agent (acting on the
instructions of the Majority Lenders) may request by notice to the Borrowers. 

  

	5.1.9	clause 15.1 (Minimum required security cover.) of the Facility Agreement shall be deleted and be replaced as follows: 

“15.1 Minimum required security cover. Clause 15.2 applies if, after the end of the third financial quarter of2017, the Agent notifies the
Borrowers that: 
  

	 	(a)	the aggregate of the Fair Market Values (determined as provided in Clause 15.3) of the Ships ; plus 

  

	 	(b)	the net realisable value of any additional security previously provided under this Clause 15; 

is below 130 per cent of the aggregate of the Loan and the Loan (as defined in the New Facility Agreement).”. 

 

	5.2	by adding a new Clause 19.l(q) as follows: 

 “19.1(q) there shall occur an Event of default
(as therein defined) under the New Facility Agreement.”. 
  

	5.3	Amendments to Finance Documents. With effect on and from the Effective Date each of the Finance Documents other than the Facility Agreement, shall be, and shall be deemed by this Supplemental Agreement to be,
amended so that the definition of, and references throughout each of the Finance Documents to, the Facility Agreement shall be construed as if the same referred to the Facility Agreement as amended and supplemented by this Supplemental Agreement.

  

	5.4	Finance Documents to remain in full force and effect. The Finance Documents shall remain in full force and effect as amended and supplemented by: 

 

	(a)	the amendments to the Finance Documents contained or referred to in Clauses 5.1 and 5.2; and 

  

	(b)	such further or consequential modifications as may be necessary to give full effect to the terms of this Supplemental Agreement. 

  
 9 

	6.	FURTHER ASSURANCES 

  

	6.1	Borrowers’ obligation to execute further documents etc. The Borrowers shall, and shall procure that any other party to any Finance Document shall: 

 

	6.1.1	execute and deliver to the Agent (or as it may direct, acting on the instructions of the Majority Lenders) any assignment, mortgage, power of attorney, proxy or other document, governed by the law of England or such
other country as the Agent may (acting on the instructions ofthe Majority Lenders), in any particular case, specify; and 

  

	6.1.2	effect any registration or notarisation, give any notice or take any other step, which the Agent may (acting on the instructions of the Majority Lenders), by notice to the Borrowers or other party, reasonably specify
for any of the purposes described in Clause 5 or for any similar or related purpose. 

  

	6.2	Purposes of further assurances. Those purposes are: 

  

	(a)	validly and effectively to create any Security Interest or right of any kind which the Lenders intended should be created by or pursuant to the Facility Agreement or any other Finance Document, each as amended and
supplemented by this Supplemental Agreement; and 

  

	(b)	implementing the terms and provisions of this Supplemental Agreement. 

  

	6.3	Terms of further assurances. The Agent may specify the terms of any document to be executed by the Borrowers or any other party under Clause 6.1, and those terms may include any covenants, powers and provisions
which the Security Trustee reasonably considers appropriate to protect its interests. 

  

	6.4	Obligation to comply with notice. The Borrowers shall comply with a notice under Clause by the date specified in the notice. 

  

	6.5	Additional corporate action. At the same time as any Borrower or any other Security Party or Obligor delivers to the Agent any document executed under Clause 6.1(a), the Borrowers or such other Security Party or
Obligor shall also deliver to the Agent a director’s certificate duly signed which shall: 

  

	(a)	set out the text of a resolution of the relevant Borrower’s or that other Security Party’s or Obligor’s directors specifically authorising the execution of the document specified by the Agent (acting on
the instructions of the Majority Lenders), and 

  

	(b)	state that either the resolution was duly passed at a meeting of the directors validly convened and held throughout which a quorum of directors entitled to vote on the resolution was present or that the resolution has
been signed by all the directors and is valid under the relevant Borrower’s or that other Security Party’s or Obligor’s articles of association or other constitutional documents. 

  
 10 

	7.	FEES AND EXPENSES 

  

	7.1	Expenses. The provisions of Clause 20 (Expenses) ofthe Facility Agreement, as amended and supplemented by this Supplemental Agreement, shall apply to this Supplemental Agreement as if they were expressly
incorporated in this Supplemental Agreement with any necessary modifications. 

  

	8.	NOTICES 

  

	8.1	General. The provisions of clause 28 (Notices) ofthe Facility Agreement, as amended and supplemented by this Supplemental Agreement, shall apply to this Supplemental Agreement as if they were expressly
incorporated in this Supplemental Agreement with any necessary modifications. 

  

	9.	SUPPLEMENTAL 

  

	9.1	Counterparts. This Supplemental Agreement may be executed in any number of counterparts each of which shall be original but which shall together constitute the same instrument. 

 

	9.2	Third party rights. A person who is not a party to this Supplemental Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce or to enjoy the benefit of any term of this
Supplemental Agreement. 

  

	10.	LAW AND JURISDICTION 

  

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

  

	10.2	Incorporation of the Facility Agreement provisions. The provisions of Clause 31 (Law and Jurisdiction) of the Facility Agreement, as amended and supplemented by this Supplemental Agreement, shall apply to
this Supplemental Agreement as if they were expressly incorporated in this Supplemental Agreement with any necessary modifications. 

 IN
WITNESS whereof the parties to this Supplemental Agreement have caused this Supplemental Agreement to be duly executed on the date first above written. 

SIGNED as a deed by Maria Trivala for and on behalf of 
 OLYMPIA
II NAVIGATION LIMITED 
 as Borrower under and pursuant to a power of attorney 

dated 25 July 2017 
 By:    /s/ Maria
Trivala 

  
 11 

 SIGNED as a deed by Maria Trivala for and on behalf of 

SUI AN NAVIGATION LIMITED 
 as Borrower under and pursuant to a
power of attorney 
 dated 25 July 2017 

By:    /s/ Maria Trivala 
 SIGNED as a deed
by Maria Trivala for and on behalf of 
 PINGEL NAVIGATION LIMITED 

as Borrower under and pursuant to a power of attorney 
 dated
25 July 2017 
 By:    /s/ Maria Trivala 

SIGNED as a deed by Maria Trivala for and on behalf of 
 EBBA
NAVIGATION LIMITED 
 as Borrower under and pursuant to a power of attorney 

dated 25 July 2017 
 By:    /s/ Maria
Trivala 
 SIGNED as a deed by Maria Trivala for and on behalf of 

CLAN NAVIGATION LIMITED 
 as Borrower under and pursuant to a
power of attorney 
 dated 25 July 2017 

By:    /s/ Maria Trivala 
 SIGNED as a deed
by Robin Parry for and on behalf of 
 ABN AMRO BANK N.V. 
 as a
Lender under and pursuant to a power of attorney 
 dated 25 July 2017 

By:    /s/ Robin Parry 
 SIGNED as a deed by
Robin Parry for and on behalf of 
 ABN AMRO BANK N.V. 
 as Lead
Arranger, Agent and Security Trustee 
 under and pursuant to a power of attorney 

dated 25 July 2017 
 By:    /s/ Robin
Parry 
 Witness to all the above Signatures: 
 VASILIKI
TZOANNOU 
 Ince & Co. 

47-49 Akti Miaouli 

Piraeus 185 36 Greece 
 By:    /s/ Vasiliki
Tzoannou 

  
 12 

 Appendix 1 

Form of Effective Date Notice 
  

	To:	OLYMPIA II NAVIGATION LIMITED, SUI AN NAVIGATION LIMITED, PINGEL NAVIGATION LIMITED, EBBA NAVIGATION LIMITED and CLAN NAVIGATION LIMITED all of the Marshall Islands 

We, ABN AMRO BANK N.V., refer to the supplemental agreement dated July 2017 (the “Supplemental Agreement”) relating to a secured facility
agreement 30 May 2008 (as amended and supplemented by an Amending and Restating Deed dated 9 June 2010, and by supplemental agreements dated 20 May 2013, 13 March 2014 and 30 June 2017, the “Facility Agreement”) made between (amongst
others) you as the Borrowers and ourselves as the Agent. 
 We hereby confirm that all conditions precedent referred to in Clause 3.1 of the Supplemental
Agreement have been satisfied. In accordance with Clauses 1.2 and 2.1 of the Supplemental Agreement the Effective Date is the date of this confirmation and the amendments to the Facility Agreement are now effective. 

Dated: [●] 2017 
  

			
	Signed:	 	  

 for and on behalf of 
 ABN AMRO
BANK N.V. 

  
 13 

 We on this 27th day of July 2017 hereby confirm and acknowledge that we have read and understood the terms and
conditions of the above Supplemental Agreement and agree in all respects to the same and confirm that the Finance Documents to which we are respectively a party shall remain in full force and effect and shall continue to stand as security for the
obligations of the Borrowers under the Facility Agreement (as amended by the Supplemental Agreement) and shall, without limitation, secure the Indebtedness under the Facility Agreement and the Finance Documents. 

 

			
	 /s/ Maria Trivala
	  	 /s/ Maria Trivala

	 Maria Trivala
 for and behalf of
BERTYL
VENTURES CO.
	  	Maria Trivala
for and behalf of
VELOUR MANAGEMENT CORP.
	 /s/ Maria Trivala
	  	 /s/ Maria Trivala

	 Maria Trivala
 for and behalf of
NAVIOS SHIP
MANAGEMENT INC.
	  	Maria Trivala
for and behalf of
NAVIOS PARTNERS CONTAINERS INC.
	 /s/ Maria Trivala
	  	 /s/ Maria Trivala

	 Maria Trivala
 for and behalf of
NAVIOS SHIP
MANAGEMENT INC.
	  	Maria Trivala
for and behalf of
NAVIOS PARTNERS CONTAINERS INC.
	 /s/ Maria Trivala
	  	 /s/ Maria Trivala

	 Maria Trivala
 for and behalf of
NAVIOS
MARITIME CONTAINERS INC.
	  	 Maria Trivala
 for and behalf of
RICKMERS
SHIP MANAGEMENT
(SINGAPORE) PTE LTD.

  
 14EX-10.1.2

 Exhibit 10.1.2 

Date 01 December 2017 
 OLYMPIA
II NAVIGATION LIMITED 
 SUI AN NAVIGATION LIMITED 

PINGEL NAVIGATION LIMITED 

EBBA NAVIGATION LIMITED 

and 
 CLAN NAVIGATION
LIMITED 
 as Borrowers 

and 
 ABN AMRO BANK N.V.

 as a Lender 

and 
 ABN AMRO BANK N.V.

 as Lead Arranger, Agent and Security Trustee 
  

 
 SUPPLEMENTAL
AGREEMENT 
  
  

in relation to a Facility Agreement 

dated as of 30 May 2008 

as amended and supplemented by 

an Amending and Restating Deed dated 9 June 2010, 

and by supplemental agreements dated 20 May 2013, 

13 March 2014, 30 June 2017 and 27 July 2017 

INCE & CO 

PIRAEUS 

 Index 
  

							
	Clause	 	 	  	Page No	 
			
	 1
	 	INTERPRETATION	  	 	3	 
			
	 2
	 	AGREEMENT OF THE CREDITOR PARTIES	  	 	4	 
			
	 3
	 	CONDITIONS PRECEDENT	  	 	4	 
			
	 4
	 	REPRESENTATIONS AND WARRANTIES	  	 	6	 
			
	 5
	 	AMENDMENTS TO FACILITY AGREEMENT AND OTHER FINANCE DOCUMENTS	  	 	6	 
			
	 6
	 	FURTHER ASSURANCES	  	 	10	 
			
	 7
	 	FEES AND EXPENSES	  	 	11	 
			
	 8
	 	NOTICES	  	 	11	 
			
	 9
	 	SUPPLEMENTAL	  	 	11	 
			
	 10
	 	LAW AND JURISDICTION	  	 	11	 

  
 2 

 THIS SUPPLEMENTAL AGREEMENT is made on 01 December 2017 

BETWEEN 
  

	(1)	OLYMPIA II NAVIGATION LIMITED, SUI AN NAVIGATION LIMITED, PINGEL NAVIGATION LIMITED, EBBA NAVIGATION LIMITED and CLAN NAVIGATION LIMITED, as joint and several Borrowers; 

 

	(2)	ABN AMRO BANK N.V. as Lenders; and 

  

	(3)	ABN AMRO BANK N.V. as Agent, Security Trustee and Lead Arranger. 

 BACKGROUND 

 

	(A)	By a facility agreement dated 30 May 2008 (the “Original Agreement” as amended and supplemented by an Amending and Restating Deed dated 9 June 2010, and by supplemental agreements dated
20 May 2013, 13 March 2014, 30 June 2017 and 27 July 2017, together, the “Facility Agreement”) and made between the parties hereto the Lenders have made available to the Borrowers a loan, of which USD36,250,000
is outstanding at the date hereof. 

  

	(B)	The Borrowers have requested the Creditor Parties to agree to additional security to be granted in the Security Trustee’s favor. 

 

	(C)	This Supplemental Agreement sets out the terms and conditions on which the Creditor Parties agree to consent to the matters referred to at (B) above. 

IT IS AGREED as follows: 
  

	1	INTERPRETATION 

  

	1.1	Defined expressions. Words and expressions defined in the Facility Agreement and the other Finance Documents shall have the same meanings when used in this Supplemental Agreement unless the context otherwise
requires. 

  

	1.2	Definitions. In this Supplemental Agreement, unless the contrary intention appears: 

“Effective Date” means the date on which the Agent issues the Effective Date Notice; 

“Effective Date Notice” means the written confirmation from the Agent to the Borrowers that the Agent has received the
documents and evidence specified in clause 3.1 in form and substance satisfactory to it in the form of Appendix 1 to this Supplemental Agreement; 

“Mortgage Addendum” means in relation to (i) Ship A, Ship B, Ship C, Ship D, Ship E and each Collateral Ship an addendum
to the first preferred mortgage granted by the relevant Borrower or Collateral Guarantor (as applicable) in favour of the Security Trustee and (ii) each New Ship, an addendum to the second preferred mortgage granted

  
 3 

 
by the relevant New Guarantor in favour of the Security Trustee, to be granted by the relevant Borrower or Collateral Guarantor or New Guarantor (as applicable) in favour of the Security Trustee
in the Agreed Form and “Mortgage Addenda” means all of them collectively; 
 “Obligors” means together the
Borrowers, the New Guarantors, the Collateral Guarantors, the Shareholder, the Corporate Guarantor and the Approved Manager and “Obligor” means any one of them; and 

“Supplemental Security Documents” means together this Supplemental Agreement and the Mortgage Addenda and
“Supplemental Security Document” means any one of them. 
  

	1.3	Application of construction and Interpretation provisions of Facility Agreement. Clauses 1.3 to 1.7 (inclusive) of the Facility Agreement apply, with any necessary modifications, to this Supplemental Agreement.

  

	2	AGREEMENT OF THE CREDITOR PARTIES 

  

	2.1	Creditor Parties’ consent. The Creditor Parties hereby agree to amend the Facility Agreement on condition that: 

  

	2.1.1	the Agent, or its authorised representative, has received the documents and evidence specified in Clause 3.1 in form and substance satisfactory to the Agent; and 

 

	2.1.2	the representations and warranties contained in clause 4 are then true and correct as if each was made with respect to the facts and circumstances existing at such time. 

 

	3	CONDITIONS PRECEDENT  

  

	3.1	Conditions precedent. The conditions referred to in Clause 2.1.1 are that the Agent shall have received the following documents: 

 

	3.1.1	Corporate authorities 

  

	 	(i)	original, duly legalized resolutions of the directors of the Obligors (other than Rickmers Ship Management (Singapore) Pte. Ltd.) and the shareholders of the Obligors (other than Rickmers Ship Management (Singapore)
Pte. Ltd. and the Corporate Guarantor) approving such of this Supplemental Agreement and the Mortgage Addenda to which they are respectively a party and authorising the execution and delivery thereof and performance of their obligations thereunder,
additionally certified by an officer of such Obligor as having been duly passed at a duly convened meeting of its directors and not having been amended, modified or revoked and being in full force and effect; 

 

	 	(ii)	duly legalized originals of any powers of attorney issued by the Obligors (other than Rickmers Ship Management (Singapore) Pte. Ltd.) pursuant to such resolutions; and 

  
 4 

	 	(iii)	a duly legalized original certificate from a duly authorised officer of each Obligor (other than Rickmers Ship Management (Singapore) Pte. Ltd.) confirming that (a) none of the constitutional documents delivered to
the Agent pursuant to the terms and conditions of the Facility Agreement have been amended or modified in any way since the date of their delivery to the Agent and that these (as applicable) remain in full force and effect or copies, certified by a
duly authorised officer of such relevant company as true, complete, accurate and neither amended nor revoked, of any constitutional documents which have been amended or modified and (b) setting out the names of the directors, officers and share
capital of the relevant company; 

  

	3.1.2	Certificate of goodstanding 

 a certified true copy of an up to date certificate of goodstanding
in respect of each Obligor (other than Rickmers Ship Management (Singapore) Pte. Ltd.); 
  

	3.1.3	Supplemental Security Documents 

 the Supplemental Security Documents together with an
acknowledgement thereto (in a letter or otherwise) duly executed, delivered and (as applicable) registered together with all other documents required by any of them; 
  

	3.1.4	Mortgage Addenda registration 

 evidence that each Mortgage Addendum has been duly registered
against the Ship which is the subject thereof in accordance with the laws of Marshall Islands; 
  

	3.1.5	Legal opinion 

 a favourable legal opinion from lawyers appointed by the Agent on such matters
as the Agent may require; 
  

	3.1.6	London agent 

 documentary evidence that the agent for service of process namely HFW Nominees
Ltd at present of Friary Court, 65 Crutched Friars, London EC3N 2AE, England has accepted its appointment in respect of this Supplemental Agreement; and 
  

	3.1.7	Further opinions, etc 

 any further opinions, consents, agreements and documents in connection
with this Supplemental Agreement and the Mortgage Addenda which the Agent (acting on the instructions of the Majority Lenders) may request by notice to the Borrowers. 
  

	3.2	If the Agent issues the Effective Date Notice prior to delivery to it of any of the documents and evidence set out in clause 3.1, the Borrowers must deliver all outstanding documents and evidence to or to the order of
the Agent no later than the date specified by the Agent, and issue by the Agent of the Effective Date Notice prior to delivery to it of all such documents and evidence shall not be construed as a waiver of the Creditor Parties’ right to receive
all the documents and evidence required by clause 3.1. 

  
 5 

	4	REPRESENTATIONS AND WARRANTIES 

  

	4.1	Repetition of Facility Agreement representations and warranties. The Borrowers represent and warrant to each Creditor Party that the representations and warranties in Clause 10 of the Facility Agreement, as
amended and supplemented by this Supplemental Agreement and updated with appropriate modifications to refer to this Supplemental Agreement, remain true and not misleading if repeated on the date of this Supplemental Agreement with reference to the
circumstances now existing. 

  

	5	AMENDMENTS TO FACILITY AGREEMENT AND OTHER FINANCE DOCUMENTS 

  

	5.1	Amendments to Facility Agreement. With effect on and from the Effective Date the Facility Agreement shall be, and shall be deemed by this Supplemental Agreement to be, amended as follows: 

 

	5.1.1	the definition of “Mortgage Addendum” contained in Clause 1.2 of this Supplemental Agreement shall be added to clause 1.1 of the Facility Agreement in alphabetical order and the Mortgage Addenda shall
be added in the definition of Finance Documents contained in clause 1.1 of the Facility Agreement; 

  

	5.1.2	the definition of each of “Mortgage”, “Collateral Mortgage” and “New Mortgage” each contained in clause 1.2 of the Facility Agreement shall be construed to mean each
Mortgage, Collateral Mortgage and New Mortgage respectively, as amended by the relevant Mortgage Addendum; 

  

	5.1.3	the following definitions shall be added to clause 1.1 of the Facility Agreement in alphabetical order: 

“”Additional New Guarantor” means each or, as the context may require, any one of the New Guarantor H, the New Guarantor
I, the New Guarantor J and the New Guarantor K and “Additional New Guarantors” means all of them collectively; 

“Additional Ship” means each or, as the context may require, any one of Ship O, Ship P, Ship Q and Ship R and
“Additional Ships” means all of them collectively; 
 “Borrower Ship” means each or, as the context may
require, any one of Ship A, Ship B, Ship C, Ship D and Ship E and “Borrower Ships” means all of them collectively; and 

“Charter Assignment” means, in relation to any Extended Employment Contract over a Collateral Ship and, following expiration
of the relevant Approved Time Charter, a Borrower Ship and an Additional Ship (as applicable), the first priority assignment thereof in respect of a Borrower Ship and a Collateral Ship and the second priority assignment thereof in respect of an
Additional Ship, each in the Agreed Form;”; 

  
 6 

	5.1.4	the definitions in the Schedule to this Supplemental Agreement shall be added to Schedule 6 of the Facility Agreement; 

  

	5.1.5	the definitions of “Approved Time Charter” and “Approved Time Charterer” contained in Schedule 6 of the Facility Agreement shall be deleted; 

 

	5.1.6	the definition of “Approved Flag” contained in clause 1.1 of the Facility Agreement shall be deleted and be replaced as follows: 

““Approved Flag” means the Republic of Marshall Islands, the Republic of Liberia, the Republic of Panama or such other
flag as the Agent may, with the authorisation of all the Lenders, in their absolute discretion, approve as the flag on which a Ship may be registered;”; 
  

	5.1.7	the definition of “Approved Flag State” contained in clause 1.1 of the Facility Agreement shall be deleted and be replaced as follows: 

““Approved Flag State” means the Republic of Marshall Islands, the Republic of Liberia, the Republic of Panama or any
other country in which the Agent may with the authorisation of all the Lenders, approve that a Ship be registered;”; 
  

	5.1.8	the definition of “Approved Time Charter Assignment” contained in clause 1.1 of the Facility Agreement shall be deleted and be replaced as follows: 

““Approved Time Charter Assignment” means, in relation to (i) a Borrower Ship, the first priority assignment and
(ii) an Additional Ship, the second priority assignment, in each case of the relevant Approved Time Charter in the Agreed Form;”; 
  

	5.1.9	any reference to “30%” in the definition of “Change of Control Event” contained in clause 1.1 of the Facility Agreement shall be deleted and be replaced by “25%”; 

 

	5.1.10	the definition of “Collateral Charter Assignment” contained in clause 1.1 of the Facility Agreement shall be deleted and reference to “Collateral Charter Assignment” in the definition
of Finance Documents contained in clause 1.1 of the Facility Agreement shall be deleted and be replaced by “Charter Assignment”; 

  

	5.1.11	reference to “a Collateral Ship” and “either Collateral Ship” in the definition of “Extended Employment Contract” contained in clause 1.1 of the Facility Agreement shall be deleted
and be replaced by “a Collateral Ship and, following expiration of the relevant Approved Time Charter, a Borrower Ship and an Additional Ship (as applicable)” and “any Collateral Ship and, following expiration of the relevant Approved
Time Charter, any Borrower Ship or any Additional Ship (as applicable)” respectively; 

  
 7 

	5.1.12	the definition of “Maturity Date” contained in clause 1.1 of the Facility Agreement shall be deleted; 

  

	5.1.13	each of New Guarantor H, New Guarantor I, New Guarantor J and New Guarantor K shall be added in the definition of “New Guarantors” contained in clause 1.1 of the Facility Agreement; 

 

	5.1.14	each of Ship O, Ship P, Ship Q and Ship R shall be included in the definition of “New Ship” contained in clause 1.1 of the Facility Agreement; 

 

	5.1.15	the definition of “Ship” in clause 1.1 of the Facility Agreement shall be deleted and be replaced as follows: 

“”Ship” means each or, as the context may otherwise require, any of (a) Ship A, Ship B, Ship C, Ship D, Ship E, Ship
F, Ship G, Ship H, Ship I, Ship J, Ship K, Ship L, Ship M, Ship N and (b) following their acquisition by the relevant New Guarantor, the relevant Ship O, Ship P, Ship Q and Ship R (and “Ships” means all of them
collectively);” 
  

	5.1.16	clause 8.1 (Repayment of Advances) of the Facility Agreement shall be deleted and be replaced as follows: 

“8.1 Repayment of Loan. The Borrower shall repay the Loan by ten (10) consecutive quarterly instalments, the first six
(6) each in an amount of $3,750,000 and the subsequent four (4) each in an amount of $1,035,000 together with a balloon instalment of $13,360,000 payable together with the last instalment.”; 

 

	5.1.17	clause 8.2 (Repayment Dates) of the Facility Agreement shall be deleted and be replaced as follows: 

“8.2 Repayment Dates. The first instalment in respect of the Loan shall be repaid on 29 September
2017 and the last instalment shall be repaid on 29 December 2019”; 
  

	5.1.18	reference to “Clause 8.5” contained at the start of clause 8.5 (Conditions of voluntary prepayment) of the Facility Agreement shall be deleted and be replaced by “Clause 8.4”;

  

	5.1.19	the following new sub-paragraph (iii) of paragraph (a) shall be added to clause 8.8 (Mandatory prepayment) of the Facility Agreement: 

“(iii) if the Advance in relation to a Ship is refinanced by any bank or financial institution.”; 

 

	5.1.20	paragraph (a) contained in clause 8.9 (Amounts of mandatory prepayments.) of the Facility Agreement shall be deleted and be replaced by as follows: 

“(a) the amount of the sale or Total Loss proceeds payable in respect of such sale or Total Loss or the amount which is being prepaid due
to the refinancing of the relevant Advance by any bank or financial institution; or”; 

  
 8 

	5.1.21	the following new sub-clause 8.16 shall be added to clause 8 (Repayment and Prepayment) of the Facility Agreement: 

“8.16 Adjustment of scheduled repayments If the total Commitment has been partially reduced or cancelled under this Agreement
and/or any part of the Loan is prepaid before any Repayment Date, the repayment instalments (including a balloon instalment) by which the Loan shall be repaid under Clause 8.1 on any such Repayment Date shall be reduced pro rata to such reduction
in, or cancellation of, the total Commitment or to the amount prepaid.”; 
  

	5.1.22	the following new paragraph (i) shall be added to clause 14.13 (Restrictions on chartering, appointment of managers etc.) of the Facility Agreement: 

“(i) sell its Ship or procure the refinance of the Advance relating to its Ship by any bank or financial institution if, in either case,
such Ship has been chartered pursuant to an Approved Time Charter.”; 
  

	5.1.23	Clause 14.17 (Charters etc.) of the Loan Agreement shall be deleted and be replaced as follows: 

“14.17 Charters etc. The Borrowers shall (i) deliver to the Agent a Certified Copy of each Extended Employment Contract and
each Approved Time Charter upon its execution, (ii) forthwith on the Agent’s request execute or procure that the relevant Collateral Guarantor or Additional New Guarantor (as applicable) executes (a) a Charter Assignment or Approved
Time Charter Assignment (as applicable) in respect thereof and (b) any notice of assignment required in connection therewith and use reasonable commercial efforts to procure the acknowledgement of any such notice of assignment by the relevant
charterer (provided that any failure to procure the same shall not constitute an Event of Default) and (c) any corporate authorisations required by the Agent for the due execution of the relevant Charter Assignment or Approved Time Charter
Assignment (as applicable) and (iii) pay all legal and other costs incurred by the Agent in connection with any such Charter Assignments and Approved Time Charter Assignment and, forthwith following the Agent’s demand.”; and 

 

	5.1.24	reference to “is below 130 per cent of the aggregate of the Loan and the Loan (as defined in the New Facility Agreement)” contained in clause 15.1 (Minimum required security cover.) of the Facility
Agreement shall be deleted and be replaced by “is for the period commencing on (i) the first Drawdown Date to occur until 31 December 2018 (both dates inclusive), below 130 per cent and (ii) 1 January 2019 and ending on the
last day of the Security Period, below 150 per cent, in each case of the aggregate of the Loan and the Loan (as defined in the New Facility Agreement)”. 

 

	5.2	Amendments to Finance Documents. With effect on and from the Effective Date each of the Finance Documents other than the Facility Agreement, shall be, and shall be deemed by this Supplemental Agreement to be,
amended so that the definition of, and references throughout each of the Finance Documents to, the Facility Agreement shall be construed as if the same referred to the Facility Agreement as amended and supplemented by this Supplemental Agreement.

  
 9 

	5.3	Finance Documents to remain in full force and effect.  

 The Finance Documents shall
remain in full force and effect as amended and supplemented by: 
  

	 	(a)	the amendments to the Finance Documents contained or referred to in Clauses 5.1 and 5.2; and 

  

	 	(b)	such further or consequential modifications as may be necessary to give full effect to the terms of this Supplemental Agreement. 

  

	6	FURTHER ASSURANCES 

  

	6.1	Borrowers’ obligation to execute further documents etc. The Borrowers shall, and shall procure that any other party to any Finance Document shall: 

 

	6.1.1	execute and deliver to the Agent (or as it may direct, acting on the instructions of the Majority Lenders) any assignment, mortgage, power of attorney, proxy or other document, governed by the law of England or such
other country as the Agent may (acting on the instructions of the Majority Lenders), in any particular case, specify; and 

  

	6.1.2	effect any registration or notarisation, give any notice or take any other step, which the Agent may (acting on the instructions of the Majority Lenders), by notice to the Borrowers or other party, reasonably
specify for any of the purposes described in Clause 5 or for any similar or related purpose. 

  

	6.2	Purposes of further assurances. Those purposes are: 

  

	 	(a)	validly and effectively to create any Security Interest or right of any kind which the Lenders intended should be created by or pursuant to the Facility Agreement or any other Finance Document, each as amended and
supplemented by this Supplemental Agreement; and 

  

	 	(b)	implementing the terms and provisions of this Supplemental Agreement. 

  

	6.3	Terms of further assurances. The Agent may specify the terms of any document to be executed by the Borrowers or any other party under Clause 6.1, and those terms may include any covenants, powers and provisions
which the Security Trustee reasonably considers appropriate to protect its interests. 

  

	6.4	Obligation to comply with notice. The Borrowers shall comply with a notice under Clause 6.1 by the date specified in the notice. 

  
 10 

	6.5	Additional corporate action. At the same time as any Borrower or any other Security Party or Obligor delivers to the Agent any document executed under Clause 6.1(a), the Borrowers or such other Security Party or
Obligor shall also deliver to the Agent a director’s certificate duly signed which shall: 

  

	 	(a)	set out the text of a resolution of the relevant Borrower’s or that other Security Party’s or Obligor’s directors specifically authorising the execution of the document specified by the Agent
(acting on the instructions of the Majority Lenders), and 

  

	 	(b)	state that either the resolution was duly passed at a meeting of the directors validly convened and held throughout which a quorum of directors entitled to vote on the resolution was present or that the resolution has
been signed by all the directors and is valid under the relevant Borrower’s or that other Security Party’s or Obligor’s articles of association or other constitutional documents. 

 

	7	FEES AND EXPENSES 

  

	7.1	Expenses. The provisions of Clause 20 (Expenses) of the Facility Agreement, as amended and supplemented by this Supplemental Agreement, shall apply to this Supplemental Agreement as if they were
expressly incorporated in this Supplemental Agreement with any necessary modifications. 

  

	8	NOTICES 

  

	8.1	General. The provisions of clause 28 (Notices) of the Facility Agreement, as amended and supplemented by this Supplemental Agreement, shall apply to this Supplemental Agreement as if they were expressly
incorporated in this Supplemental Agreement with any necessary modifications. 

  

	9	SUPPLEMENTAL 

  

	9.1	Counterparts. This Supplemental Agreement may be executed in any number of counterparts each of which shall be original but which shall together constitute the same instrument. 

 

	9.2	Third party rights. A person who is not a party to this Supplemental Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce or to enjoy the benefit of any term of this
Supplemental Agreement. 

  

	10	LAW AND JURISDICTION 

  

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

  

	10.2	Incorporation of the Facility Agreement provisions. The provisions of Clause 31 (Law and Jurisdiction) of the Facility Agreement, as amended and supplemented by this Supplemental Agreement, shall
apply to this Supplemental Agreement as if they were expressly incorporated in this Supplemental Agreement with any necessary modifications. 

  
 11 

 IN WITNESS whereof the parties to this Supplemental Agreement have caused this Supplemental Agreement to
be duly executed on the date first above written. 
  

					
	SIGNED as a deed by Stratis Camatsos	  	)	  	
	for and on behalf of	  	)	  	
	OLYMPIA II NAVIGATION LIMITED	  	)	  	/s/ Stratis Camatsos
	as Borrower under and pursuant to	  	)	  	
	a power of attorney dated	  	)	  	
			
	SIGNED as a deed by Stratis Camatsos	  	)	  	
	for and on behalf of	  	)	  	
	SUI AN NAVIGATION LIMITED	  	)	  	/s/ Stratis Camatsos
	as Borrower under and pursuant to	  	)	  	
	a power of attorney dated	  	)	  	
			
	SIGNED as a deed by Stratis Camatsos	  	)	  	
	for and on behalf of	  	)	  	
	PINGEL NAVIGATION LIMITED	  	)	  	/s/ Stratis Camatsos
	as Borrower under and pursuant to	  	)	  	
	a power of attorney dated	  	)	  	
			
	SIGNED as a deed by Stratis Camatsos	  	)	  	
	for and on behalf of	  	)	  	
	EBBA NAVIGATION LIMITED	  	)	  	/s/ Stratis Camatsos
	as Borrower under and pursuant to	  	)	  	
	a power of attorney dated	  	)	  	
			
	SIGNED as a deed by Stratis Camatsos	  	)	  	
	for and on behalf of	  	)	  	
	CLAN NAVIGATION LIMITED	  	)	  	/s/ Stratis Camatsos
	as Borrower under and pursuant to	  	)	  	
	a power of attorney dated	  	)	  	
			
	SIGNED as a deed by Pinelopi Karamadouki	  	)	  	
	for and on behalf of	  	)	  	
	ABN AMRO BANK N.V.	  	)	  	/s/ Pinelopi Karamadouki
	as a Lender under and pursuant to	  	)	  	
	a power of attorney dated	  	)	  	

  
 12 

					
	SIGNED as a deed by Pinelopi Karamadouki	  	)	  	
	for and on behalf of	  	)	  	
	ABN AMRO BANK N.V.	  	)	  	/s/ Pinelopi Karamadouki
	as Lead Arranger, Agent and Security Trustee	  	)	  	
	under and pursuant to	  	)	  	
	a power of attorney dated 24 November 2017	  	)	  	
			
	Witness to all the above	  	)	  	
	Signatures:	  	)	  	
	Name:	  		  	
	Address:	  		  	
	47-49 Akti Miaouli	  		  	
	Piraeus, Greece	  		  	

  
 13 

 Appendix 1 

Form of 
 Effective Date
Notice 
  

	To:	OLYMPIA II NAVIGATION LIMITED, SUI AN NAVIGATION LIMITED, PINGEL NAVIGATION LIMITED, EBBA NAVIGATION LIMITED and CLAN NAVIGATION LIMITED all of the Marshall Islands 

We, ABN AMRO BANK N.V., refer to the supplemental agreement dated [              ] December 2017
(the “Supplemental Agreement”) relating to a secured facility agreement 30 May 2008 (as amended and supplemented by an Amending and Restating Deed dated 9 June 2010, and by supplemental agreements dated 20 May 2013,
13 March 2014, 30 June 2017 and 27 July 2017, the “Facility Agreement”) made between (amongst others) you as the Borrowers and ourselves as the Agent. 

We hereby confirm that all conditions precedent referred to in Clause 3.1 of the Supplemental Agreement have been satisfied. In accordance with Clauses 1.2
and 2.1 of the Supplemental Agreement the Effective Date is the date of this confirmation and the amendments to the Facility Agreement are now effective. 

Dated: [                 ] December 2017 

Signed:_______________________________ 
 for and on behalf of

 ABN AMRO BANK N.V. 

  
 14 

 We on this 01st day of December 2017 hereby confirm and
acknowledge that we have read and understood the terms and conditions of the above Supplemental Agreement and agree in all respects to the same and confirm that the Finance Documents to which we are respectively a party shall remain in full force
and effect and shall continue to stand as security for the obligations of the Borrowers under the Facility Agreement (as amended by the Supplemental Agreement) and shall, without limitation, secure the indebtedness under the Facility
Agreement and the Finance Documents. 
  

					
	/s/ Stratis Camatsos	 		  	/s/ Stratis Camatsos
	  
 Stratis Camatsos
	 		  	  
 Stratis Camatsos

	for and on behalf of	 		  	for and on behalf of
	VELOUR MANAGEMENT CORP.	 		  	BERTYL VENTURES CO.
	(as Collateral Guarantor A)	 		  	(as Collateral Guarantor B)
			
	 /s/ Stratis Camatsos

Stratis Camatsos
	 		  	 /s/ Stratis Camatsos

Stratis Camatsos

	for and on behalf of	 		  	for and on behalf of
	EVIAN SHIPTRADE LTD.	 		  	ANTHIMAR MARINE INC.
	(as New Guarantor A)	 		  	(a New Guarantor B)
			
	 /s/ Stratis Camatsos

Stratis Camatsos
	 		  	 /s/ Stratis Camatsos

Stratis Camatsos

	for and on behalf of	 		  	for and on behalf of
	ISOLDE SHIPPING INC.	 		  	RODMAN MARITIME CORP.
	(as New Guarantor C)	 		  	(as New Guarantor D)
			
	 /s/ Stratis Camatsos

Stratis Camatsos
	 		  	 /s/ Stratis Camatsos

Stratis Camatsos

	for and on behalf of	 		  	for and on behalf of
	SILVANUS MARINE COMPANY	 		  	ENPLO SHIPPING LIMITED
	(as New Guarantor E)	 		  	(as New Guarantor F)

  
 15 

					
	 /s/ Stratis Camatsos
	 		  	
	 Stratis Camatsos
 for and on behalf of
	 		  	
	MORVEN CHARTERING INC.	 		  	
	(as New Guarantor G) 	 		  	
			
	 /s/ Stratis Camatsos
	 		  	
	 Stratis Camatsos
 for and on behalf of
	 		  	
	NAVIOS SHIPMANAGEMENT INC.	 		  	
	(as Approved Manager)	 		  	
			
	 /s/ Stratis Camatsos
	 		  	 /s/ Stratis Camatsos

	Stratis Camatsos	 		  	Stratis Camatsos
	for and on behalf of	 		  	for and on behalf of
	NAVIOS MARITIME CONTAINERS INC.	 		  	NAVIOS PARTNERS CONTAINERS INC.
	(as Corporate Guarantor)	 		  	(as Shareholder)

  
 16

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00285-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00285-of-00352.parquet"}]]