Document:

Exhibit 4.60

 

Please note that this is a convenience translation of the German Credit Facility Agreement only. In case of any discrepancies, the German version prevails.

Bank's reference no.: 7993260522 / 4000006108 / 5464ts

Credit Facility Agreement

	 	
OBAST Bunkering & Trading GmbH

Dalwitzhofer Weg 22 a

18055 Rostock 

	 	 
	 	 	
- hereinafter referred to as the "Borrower" -

	 	 
	
receives from

	
HSH Nordbank AG

Gerhart-Hauptmann-Platz 50

20095 Hamburg

	 	 	 
	 	 	
VAT ID: DE 813 725 193

	 	 	
- hereinafter referred to as the "Bank"-

under this agreement of 20.04.2017 (agreement date)

a Credit Facility in the maximum amount of

	 	
USD 25,000,000.00

	 	 
	 	
(in words: US Dollar twenty-five million 00/100)

(VAT-exempt financial service)

for the purposes of financing German commercial business.

Drawdown options

The credit facility may be drawn down having due regard to the terms and conditions set forth in the other agreements as

	-	
an overdraft facility

	-	
a fixed interest rate loan (term of individual transactions of 1, 2 and/or 3 month(s), minimum amounts of USD 1,000,000.00 or EUR 1,000,000.00

	-	
a guarantee (also as a foreign currency guarantee)

	-	
letters of credit (term of individual transactions up to 12 months)

Unless otherwise stipulated below the terms and conditions of the drawdowns are separately agreed.

Restriction

The Bank may restrict the amounts drawn down under individual credit types, particularly where it has limited refinancing options.

Amounts drawn down under the overdraft facility in US dollar (USD)

The overdraft facility is made available on the foreign currency account with IBAN no.

DE46 2105 0000 1001 0451 13

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Credit Terms and Conditions

Borrowing rate on amounts drawn down under the overdraft facility in USD

An interest rate tied to the federal funds rate is payable for amounts drawn down under the overdraft facility in US dollar. The borrowing rate is calculated as the average determined on the 25th of each month of the federal funds rates published for the past 30/31 days plus an annual margin of 2.05 percentage points.

The borrowing rate shall be at least 2.05 % p.a. irrespective of the change in the federal funds rate quoted.

The current margin amount is based on the current rating of the Borrower. In the event of a change in the rating each party may request from the other party that the margin be adjusted. Following the conclusion of the negotiations regarding this, the new margin becomes effective from the following month.

Interest payments / account statement date

Interest on amounts drawn down under the overdraft facility in US dollar (USD) is invoiced and payable in arrears at each account statement date. The Bank prepares an account statement for the respective foreign currency account as at the end of a calendar month.

Amounts drawn down under the overdraft facility in EUR

The overdraft facility is made available on the foreign currency account with IBAN no.

DE89 2105 0000 1001 3591 31 - OBAST Bunkering & Trading GmbH

Borrowing rate applicable to amounts drawn down under the overdraft facility in EUR

An interest rate tied to the EONIA (Euro OverNight Index Average) overnight index is payable for amounts drawn down under the overdraft facility. The borrowing rate is calculated as the average determined on the 25th of each month of EONIA rates published for the past 30/31 days plus an annual margin of 1.85 percentage points.

The borrowing rate shall be at least 1.85 % p.a. irrespective of any change in the EONIA rates quoted.

The current margin amount is based on the current rating of the Borrower. In the event of a change in the rating each party may request from the other party that the margin be adjusted. Following the conclusion of the negotiations regarding this the new margin becomes effective from the following month.

Interest payments / account statement date

Interest on amounts drawn down under the overdraft facility in EUR is invoiced and payable in arrears on each account statement date. The Bank prepares an account statement for the respective foreign currency account as at the end of a calendar month.

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Amount drawn down in the form of a fixed interest rate loan denominated in USD

The loan may also be drawn down in the form of a fixed interest loan on a revolving basis in tranches of at least USD 1.000,000.00 to be charged against the maximum amount. The following provisions shall apply to these amounts drawn down:

	-	
The fixed interest rate loan is administered under a separate account number.

	-	
The Borrower must request each disbursement of a fixed interest loan from the Bank at least two banking days prior to the relevant disbursement date. The disbursement date must be a banking day.

	-	
The fixed borrowing rate is the LIBOR interest rate prevailing on the day the pricing is determined (two business days prior to the disbursement date) that is applicable for the term of 1, 2 and/or 3 month(s) and the USD currency (interest basis) plus an annual margin of 1.95 percentage points. The Bank will notify the Borrower of the fixed interest rate determined.

	-	
The borrowing rate shall be at least 1.95 % p.a. irrespective of any change in the interest basis.

	-	
Interest is calculated on the basis of a year of 360 days taking into account the exact number of calendar days (euro day count convention).

	-	
The fixed interest period ends after 1, 2, and/or 3 month(s) according to the interest basis; the fixed interest loan cannot be repaid during the fixed interest period.

	-	
Interest is due and payable on the expiry date of the fixed interest period.

	-	
After the expiry of the fixed interest period the fixed interest loan including interest becomes due for repayment.

Amount drawn down in the form of a fixed interest rate loan denominated in EUR

The loan may also be drawn down in the form of a fixed interest loan on a revolving basis in tranches of at least EUR 1,000,000.00 to be charged against the maximum amount. The following provisions shall apply to these amounts drawn down:

	-	
The fixed interest rate loan is administered under a separate account number.

	-	
The Borrower must request each disbursement of a fixed interest loan from the Bank at least two banking days prior to the relevant disbursement date. The disbursement date must be a banking day.

	-	
The fixed borrowing rate is the EURIBOR interest rate prevailing on the day the pricing is determined (two TARGET days prior to the disbursement date) that is applicable for the term of 1, 2 and/or 3 month(s) (interest basis) plus an annual margin of 1.75 percentage points. The Bank will notify the Borrower of the fixed interest rate determined.

	-	
The borrowing rate shall be at least 1.75 % p.a. irrespective of any change in the interest basis.

	-	
Interest is calculated on the basis of a year of 360 days taking into account the exact number of calendar days (euro day count convention).

	-	
The fixed interest period ends after 1, 2 and/or 3 month(s) according to the interest basis; the fixed interest loan cannot be repaid during the fixed interest period.

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	-	
Interest is due and payable on the expiry date of the fixed interest period.

	-	
After the expiry of the fixed interest period the fixed interest loan including interest becomes due for repayment.

Amounts drawn down in the form of a guarantee

The Bank shall accept sureties and guarantees on behalf of the Borrower — hereinafter collectively referred to as "guarantee commitments".

The credit facility may not be drawn down in the form of loan sureties and guarantees.

Guarantee commitments in a currency different to the agreement currency

The guarantee facility may also be drawn down by guarantee commitments in EUR.

Issuing of instruction

Amounts are drawn down as a guarantee by the Borrower issuing a guarantee instruction using a form provided by the Bank. If the wording of the guarantee commitment is specified by the Borrower or a third party, its content and any ambiguities are the responsibility of the Borrower; the Bank reserves the right to reject the wording of the guarantee commitment submitted by the Borrower or to revise it in consultation with the Borrower. If no wording is submitted in the guarantee instruction, the Bank will formulate, or have formulated, the wording for the guarantee commitment based on customary banking standards.

The Bank reserves the right to refuse to accept guarantee commitments on a case-by-case basis.

Guarantee Commission

1.55% p.a. for each guarantee commitment accepted under this agreement.

This guarantee commission is not payable for the granting of the Credit Facility but represents consideration for the individual guarantee commitment.

An additional processing fee, the amount of which is separately agreed upon acceptance, is invoiced for the preparation of each individual guarantee commitment.

Guarantee Commission for foreign guarantee commitments

1.55 % annually for each foreign guarantee commitment under this agreement, but at least EUR 95.00 per foreign guarantee commitment for each commenced quarter.

A foreign guarantee commitment is understood to be any surety or any guarantee not subject to German law. Sureties and guarantees subject to German law also fall under the definition of a foreign guarantee commitment,

	(i)	
which are not prepared in the German language and/or

	(ii)	
whose principal or beneficiary (guaranteed entity) has its registered office outside Germany and/or

	(iii)	
which is issued in foreign currency (i.e. not in EUR).

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This guarantee commission is not payable for the granting of the Credit Facility but represents consideration for the individual guarantee commitment.

In the case of foreign guarantee commitments, the Bank may also invoice separate processing fees, the amount of which is determined at its own discretion.

Other commissions and fees / calculation method

Commitment Fee

0.325% annually

The commitment fee is calculated on the loan amount not yet drawn down. The calculation commences on the day on which the lending relationship becomes binding.

Due date of commission payments

Commissions are invoiced and payable in arrears as the month end.

Due date of commission payments for foreign guarantee commitments

Commissions are invoiced and payable in arrears as the quarter end.

Calculation Method

Interest on loan amounts drawn down and commissions are calculated - unless otherwise stipulated - on the basis of a year of 360 days taking into account the exact number of calendar days (Euro day count convention)

Costs

The Borrower bears the costs necessary for the provision of any collateral and its later release, particularly legal and land registry costs. Furthermore, reimbursement of expenses incurred by the Bank is based, unless otherwise agreed, on the statutory provisions.

Current account agreement

The Bank is authorised to debit interest payable, principal repayments, guarantee commissions, fees and charges, any claim for the reimbursement of expenses and all other contractual and legal claims to the current account no. IBAN DE46 2105 0000 1001 0451 13 of the Borrower held at the Bank.

Taxes

All amounts owing by the Borrower under this Agreement are paid without withholding or deducting any amounts for or because of taxes or other charges (hereinafter collectively referred to as "taxes") unless the Borrower is required by law to withhold or deduct such taxes.

In the event that the Borrower or the Bank were to be required with respect to the payments to be made by the Borrower under this Agreement to withhold or deduct taxes, the Borrower is obliged with respect to each payment to be made by it

Page 5 / 13

to pay all such taxes to the competent authorities when they become due and demonstrate to the Bank that the tax payment has been made;

to indemnify and hold the Bank harmless from all such taxes;

to pay any additional amounts required so that the net amount remaining after such withholding or deduction is equivalent to the amount that would have to be paid without such withholding or deduction.

Precondition for drawing down the Credit Facility

The credit facility may only be drawn down if the legally effective provision of the agreed collateral is proven and the Bank has irrevocable access to the collateral and the following preconditions are met:

	-	
Credit Facility Agreement signed by the Borrower.

	-	
for guarantor AEGEAN Marine Petroleum S.A.: submission of the audited financial statements as at 31.12.2015 and, if already available, as at 31.12.2016 as well as a legal opinion.

	-	
for guarantor Aegean Marine Petroleum Network Inc.: submission of a legal opinion.

The Borrower is to provide the Bank with documents required for a drawdown no later than five banking days prior to the drawdown. All documents submitted must not give rise to any concerns from the Bank's perspective regarding the drawdown.

Term 

Start

The Credit Facility Agreement enters into force upon its legally binding signature.

Term / Cancellation

The Credit Facility is made available until further notice, with a maximum term to 15.01.2018, i.e. the Credit Facility may be cancelled prior to this date - and prior to drawdown - at any time by both parties without prior notice and unconditionally. In the event that the Bank cancels, it shall take the Borrower's legitimate concerns into account.

Cancellation of the Credit Facility Agreement also includes any portion of the overdraft facility drawn down. The agreements reached in each case shall apply to the cancellation of the loans drawn down under the Credit Facility Agreement.

The term of the respective individual drawdowns is generally limited by the term of the Credit Facility Agreement. Exceptions thereto must be discussed on a case-by-case basis.

Obligation of the Borrower if the guarantee commitments continue after expiry/cancellation of the agreement and in the event of an expected drawdown

The provisions of this agreement continue to apply to the guarantee commitments und and letters of credit already accepted at the time of the cancellation or expiry of this Credit Facility Agreement. However, the Bank may — notwithstanding the claim for release under Section 775 of the German Civil Code (BGB) — request the Borrower to release it from the existing guarantee commitments. The Borrower is to provide collateral in the form of cash - in the respective foreign currency in the case of

Page 6 / 13

guarantee commitments and letters of credit denominated in foreign currency - up to the release date (Bank's claim becomes immediately due and payable). If collateral cannot be furnished in this manner, the Borrower is to provide a guarantee issued by a financial institution with an excellent credit standing in the amount of the guarantee commitment(s).

The Bank may debit the Borrower's current account until collateral in the amount of the guarantee commitments or letters of credit is received. The above-mentioned provisions apply accordingly where, in the Bank's view, the guarantee commitment may be potentially drawn down, if the assertion of the Bank's claim for reimbursement of expenses appears to be at risk.

Collateral

Guarantee in the amount of USD 25,000,000.00

Guarantor: Aegean Marine Petroleum Network Inc.

 together with a legal opinion.

Guarantee in the amount of USD 25,000,000.00

Guarantor: AEGEAN Marine Petroleum S.A., Akti Kondili 10,18545 Piraeus, Greece together with a legal opinion

The Credit Facility is initially granted without provision of any special collateral apart from the above-mentioned guarantee. Furthermore, the right to obtain subsequent collateral and the General terms and Conditions pledge based on the General Business Terms and Conditions remain unaffected.

The Borrower confirms that it has not provided any collateral whatsoever to other lenders for similar types of loans/credits or has had such provided by third parties.

It undertakes to the Bank

	-	
not to provide any collateral whatsoever for similar types of loans/credits (also not by means of recourse factoring) or to have such provided by third parties and

	-	
not to incur any liabilities that involve the providing of any form of collateral to other lenders for similar types of loans/credits,

without it having previously or simultaneously and with the same ranking given the Bank a share in such collateral or having provided the Bank with collateral of an equivalent value.

Excluded from this is the securing of supplier credits through the retention of title and substitute assignments in line with the standard business practice applied in the industry sector. Also excluded are pledges and security interests of credit institutions in line with the standard business practice applied in the industry sector based on General Terms and Conditions.

Property, on which there is already a land charge in favour of the Bank, is not affected by this undertaking, unless the land charge solely secures claims other than those arising under this credit agreement.

The undertaking expires on the full satisfaction of the Bank's claims arising under this credit agreement.

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Other Agreements

It is understood that, if the "Global Facility" is reissued for the Aegean Group, the financing is made available in the future at the latest by the end of September 2017 either without specific collateral or equivalent collateral is provided to the Bank for this Credit Facility Agreement.

Cross Default:

The Borrower shall ensure that a "cross default" situation does not occur. Such a situation arises if the Borrower does not or is unable to meet its financial liabilities to third-party credit institutions / other third-party creditors on the due date - provided that such financial liabilities in total exceed an amount of USD 25,000,000.00 (or the equivalent value in another currency) - or third-party credit institutions / other third-party creditors demand or could demand immediate repayment of such financial liabilities due to an event of default.

General provisions for amounts drawn down in EUR

The credit facility may also be drawn down in EUR. The Bank may restrict the amounts drawn down in EUR, particularly with regard to limited refinancing options.

Charging to the Credit Facility

Amounts drawn down in EUR will be charged to the credit facility at the respective current, daily variable mean exchange rate (ECB reference rates — to the extent not published by the ECB — OTC rates).

Maximum amount exceeded due to changes in exchange rates

The full or partial drawdown of the credit facility in EUR may result in a drawdown that exceeds the maximum committed amount in USD due to movements in exchange rates (appreciation of the euro).

In such cases, the Borrower is required, at the Bank's request, to immediately repay the amount drawn down in excess of the maximum amount or — if the Borrower is not able to do this at short notice — to provide additional collateral deemed valuable by the Bank for the period during which the maximum amount is exceeded. The Bank's entitlement to repayment of the excess amount continues to exist even where additional collateral is provided. For purposes of calculating the excess amount, the loans drawn down in EUR must be converted into USD in accordance with the above provision.

In the event that the Borrower does not comply with a repayment request from the Bank, even after the expiry of an additional period granted to make such payment and/or the committed USD maximum amount may be exceeded even further as a result of movements in the EUR exchange rate, the Bank remains entitled to convert the amount drawn down in EUR into USD for future periods and charge any realised foreign exchange losses to the Borrower.

Payment in the agreement currency

For amounts drawn down in EUR the Borrower is to make all payments under this agreement in the currency agreed for the respective drawdown unless special arrangements have otherwise been agreed.

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The Bank is entitled to convert the amount drawn down into USD if the Borrower defaults on the repayment for reasons for which the Bank is not responsible.

Agreement on a Structuring Fee / Work Fee

In the negotiations regarding this agreement the Bank offered to the Borrower that, as part of the pricing, it would waive the agreement on a Structuring Fee and instead calculate a higher margin / higher commitment fee / higher guarantee commission. The Borrower has decided to pay the following one-off Structuring Fee instead of paying a higher margin / higher commitment fee / higher guarantee commission:

USD 52,500.00 

Furthermore, it is agreed that the Borrower is to pay an annual Work Fee of USD 56,250.00 (22.5 bp) on 10th April of each year.

The fees are due 5 banking days after the conclusion of the agreement and are debited to the current account no. IBAN DE46 2105 0000 1200 0415 13 administered at the Bank.

The fees will not be refunded - nor in part - in the event of early repayment.

Final Provisions 

EONIA

The EONIA interest rate - Euro OverNight Index Average - is determined by the European Central Bank on TARGET days, by 7pm, Brussels time, on the basis of real transactions as the weighted average rate for overnight lending in the interbank market and is published on the Thomson Reuters "EONIA" page or another page replacing this Thomson Reuters page. If no EONIA interest rate is determined, the EONIA interest rate shall be the arithmetic mean (rounded to three decimal places) of the interest rates offered in the interbank market as the average overnight rate by four leading credit institutions selected by the Bank for the day concerned.

EURIBOR

The EURIBOR interest rate is the percentage rate per annum displayed at 11am Brussels time on the Thomson Reuters EURIBOR 01 page for the term concerned or on another page replacing this Thomson Reuters page. In the event that no EURIBOR interest rate for the interest rate period in question covering full calendar months is displayed on the above Thomson Reuters page or on another page replacing the Thomson Reuters page, the EURIBOR interest rate shall be the arithmetic mean (rounded to three decimal places) of the interest rates offered at noon Brussels time by 4 (four) leading credit institutions selected by the Bank in the interbank market for euro deposits in this amount and for the respective period.

Federal funds rate

The federal funds rate, also called the federal funds target rate, is the interest rate that is published daily on the Thomson Reuters FEDFUNDU page or another page replacing this Thomson Reuters page. The federal funds rate is the key interest rate in the United States of America determined by the Federal Open Market Committee in the form of an interest rate or an interest rate range. The key interest rate is used as the target for overnight lending in the interbank market in the USA. If the

Page 9 / 13

federal funds rate is determined as an interest rate range, the rate at the top of the range is relevant for the federal funds rate quote.

LIBOR

LIBOR - LONDON Interbank Offered Rate - is the daily determined reference interest rate in the interbank market, which is fixed at 11am London time on each business for the maturity and currency concerned and is then published on the Thomson Reuters LIBOR 01 or 02 page or another page replacing the above-mentioned pages. In the event that no LIBOR interest rate for the respective period is published on this Thomson Reuters page or on another page replacing this page, the LIBOR interest rate shall be the arithmetic mean — rounded to five decimal points — of the interest rates offered at noon London time by four leading credit institutions selected by the Bank in the interbank market for deposits in US dollars in this amount and for the respective period.

Banking days / TARGET day

Banking days are all working days except Sundays and the 24th and 31st of December.

A TARGET day is any day on which payments may be settled via TARGET (Trans-European Real Time Gross Settlement Express Transfers System).

Business day

A business day is any day (except for Saturday and Sunday) on which commercial banks in London and the main financial centre for the currency concerned are generally open to the public.

Disclosure of Financial Condition

The Borrower is required to provide the Bank at any time with all information requested regarding its financial condition and to make available all necessary documents for the Bank to obtain a clear and timely view of the Borrower's financial condition and to be able to satisfy the requirements of the banking supervisory authorities. The disclosure obligation also applies to the financial condition of any third-party collateral provider, who furnishes personal collateral (e.g. guarantors).

During the term of the loan the Borrower shall regularly submit to the Bank the relevant documents, signed and dated in each case. This applies in particular to audited or certified annual financial statements together with the notes and management report as well as the consolidated financial statements together with the associated financial and/or audit reports.

Should it not be possible to submit the documents within six months after the end of the financial year, the Borrower shall initially provide the documents in draft form (e.g. draft annual financial statements, interim financial statements). In this case, the Borrower shall submit the final documents as soon as they become available, however not later than eight months after the end of the financial year.

Additional Documents

The following documents are also to be submitted on a regular basis:

Page 10 / 13

	-	
business reports that are signed with legally binding effect on a quarterly basis and interim financial statements where possible with a plan/actual and previous year comparison on the 15th of the second month following the end of the calendar quarter;

	-	
a current organisational chart once a year at the end of each financial year;

	-	
audited single entity financial statements of the borrowers;

	-	
audited consolidated financial statements of the guarantor, Aegean Marine Petroleum Network Inc.;

	-	
quarterly business reports of the guarantor, Aegean Marine Petroleum Network Inc.;

	-	
quarterly compliance certificate of Aegean Marine Petroleum Network Inc. with respect to the Aegean Marine Petroleum S.A. facility agreement of USD 1,000,000,000.00 dated September 16, 2015 proving that the covenants have been complied with. Reporting date is the relevant quarter end with a submission deadline of a maximum of 60 days after the quarter end.

Breach of the disclosure obligation, right to cancel on the part of the Bank

In the event that the Borrower or any third-party collateral provider, who furnishes personal collateral, does not meet its obligation to disclose his financial condition, the Bank shall be entitled to cancel the lending relationship on an exceptional basis in light of Section 18 (1) sentence 1 of the German Banking Act (KWG). In this regard, the Bank shall take the Borrower's legitimate interests into account.

Reporting, review, information

The Borrower must immediately inform the Bank of any legal and financial events capable of adversely affecting the lending relationship (e.g. changes in corporate relationships, risks arising from product liability and/or environmental damage, in the case of collateral: measures taken regarding assets serving as collateral). The Borrower is required to provide the Bank with all information requested at any time and to provide all documents necessary to review the agreed collateral.

The Bank shall be entitled to inspect public registers, land registers and title deeds at any time and to file an application for ordinary or certified copies and extracts of such at the Borrower's expense. Furthermore, the Bank may obtain information from the beneficiary, insurance companies, public authorities and other entities, in particular credit institutions, that it regards necessary for the purposes of assessing the lending relationship. Employees and agents of the Bank are entitled to inspect the business and collateral objects.

Communications

Declarations and notifications under or in connection with this agreement, subject to the provision regarding amendments and additions to this agreement, shall be submitted in writing in German by letter or telefax. All communications are deemed to be legally effective if the respective addressee has received them.

General reporting and information requirements, but not declarations of intent, can be met or submitted by e-mail.

Insofar as communications of the Bank are sent by e-mail, such e-mails are not encrypted and are also not provided with an electronic signature.

The Borrower may request the Bank in writing to change from unsecured e-mail procedures to secure e-mail procedures.

If a party no longer wishes to receive communications via e-mail, for instance for security reasons, it will accordingly inform the other party. Following receipt of such a notification, the parties will cease exchanging communications via e-mail. The Bank would like to expressly point out again the risks

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involved in transmitting data via unencrypted e-mails such as delays, loss of data, lack of confidentiality, falsification or viruses etc. The sender is only liable for any disadvantages suffered by the recipient as a result of this that are caused intentionally or by gross negligence.

The provisions in this clause relate particularly to e-mails sent by the Bank to recipients using the ampni.com domain or obast.de. The Borrower undertakes to immediately the Bank in writing if changes were to be made to the above-mentioned domain or e-mails are to be sent from now on to specifically designated e-mail addresses,

Severability Clause

In the event that provisions of this agreement are invalid or unenforceable in full or in part, become invalid or unenforceable at a later date or contain a loophole, the remaining provisions of this Agreement shall remain in force.

The following attached Appendices are essential parts of this Credit Facility Agreement:

	-	
Appendix 1 Sample Compliance Certificate

	-	
Appendix 2 Terms and conditions for the foreign documentary business

	-	
Terms and conditions for the guarantee transaction

	-	
The Bank's General Business Terms and Conditions

Acceptance of this contractual offer

This offer may be accepted up to 27.04.2017 (received by the Bank).

Following the expiry of the deadline set by the Bank for accepting this agreement, the declaration of acceptance submitted by the Borrower is deemed to be a new offer. The Bank may accept this offer without the need to declare such acceptance to the Borrower. The Borrower waives acknowledgement of receipt of the acceptance declaration.

Borrower's duties of cooperation with regard to the Bank's compliance with the requirements of the German Money Laundering Act (GwG)

Under the provisions of the GwG, the Bank is required to determine and record the beneficial owner in the business relationship with the Borrower. A beneficial owner is a natural person, who, for example, directly or indirectly owns or controls a significant interest (more than 25%) in the borrower; caused the borrower to conclude the credit agreement or benefits from the conclusion of such agreement.

Under Section 1 (6) in conjunction with Section 3 (1) no 3 the Bank is required to inquire as to whether the Borrower is acting for its own account or for the account of a third party. In the event that the Borrowing is acting on behalf of a third party, it must provide such party's name and address below:

....................................................................................................................

 Name and address of the different beneficial owner)

Otherwise, the Borrower is required to provide the Bank upon request — where applicable also with regard to a beneficial owner — all information requested and to make documentation available which the Bank needs to comply with its obligations under the GwG (Section 3 et seqq. GwG). To the extent there are subsequent changes to the information provided/documentation made available, the Borrower is required to immediately notify the Bank thereof.

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NOTICES REGARDING RISK

	·	
Currency risk

The Bank expressly points out that there are risks relating to possible foreign exchange rate fluctuations in the case of amounts drawn down in EUR. The Bank does not assume any liability in this regard.

All decisions made in connection with drawing down this loan in EUR are taken by the Borrower at his own risk.

	·	
Payment on the first demand under a surety or guarantee

Guarantees and sureties payable on first demand entail specific risks. The Bank expressly refers in this regard to the risk statement included in its terms and conditions for the guarantee business.

Declaration of the Borrower with regard to bank secrecy:

The Bank is entitled to transfer the loan to a third party for refinancing purposes as well as for the purposes of hedging the economic risk associated with the granting of the loan.

In this connection, the Borrower shall agree to the passing on of the information required for this. The same shall apply to the passing on of information to rating agencies for the purposes of preparing customer ratings. In this respect the Borrower shall exempt the Bank from the bank secrecy rules. Please refer to No. 29 of the General Business Terms and Conditions in this regard.

	
Rostock,

	20.04.17 	 	
Hamburg, 20.04.2017

	 	 	 	 
	 	 	 	 

 

	 	 	 	 
	 	 	 
	 	 	 
	
OBAST Bunkering & Trading GmbH 

	 	
HSH Nordbank AG 

	 	 	 
	/s/ Adrian Brosch 	/s/ Mathias Berndt 	 	/s/ illegible 
	
Adrian Brosch

Managing Director 

	
Mathias Berndt 

Managing Director 

	 	
 

	 	 	 

 

Page 13 / 13FS Investment Corporation II 8-K

 

Exhibit
10.1

 

FOURTH
AMENDMENT TO CREDIT AGREEMENT

 

THIS
FOURTH AMENDMENT TO CREDIT AGREEMENT, dated as of May 12, 2017 (together with all exhibits and schedules hereto, this “Fourth
Amendment”), is entered into by and between DUNNING CREEK LLC, a Delaware limited liability company (the “Borrower”),
and DEUTSCHE BANK AG, NEW YORK BRANCH (“DBNY”) as Administrative Agent (in such capacity, the “Administrative
Agent”) and as a lender (DBNY and each other Lender party to the Credit Agreement from time to time, the “Lenders”
and each a “Lender”). Capitalized terms used herein and not otherwise defined herein have the meanings assigned
to such terms in the Credit Agreement described below.

 

RECITALS:

 

A.       The
Borrower and DBNY are parties to a Credit Agreement dated as of May 14, 2014 by and among the Borrower and DBNY, as Administrative
Agent and as a Lender, as amended pursuant to that (i) First Amendment to Credit Agreement dated as of June 4, 2014, (ii) Second
Amendment to Credit Agreement dated as of May 14, 2015 and (iii) the Third Amendment to Credit Agreement dated as of May 13, 2016
(the credit agreement, as amended and amended and restated prior to the date hereof, the “Credit Agreement”
and, the Credit Agreement, as amended by this Fourth Amendment, the “Amended Credit Agreement”).

 

B.       The
parties hereto desire, among other things, to (i) modify the interest periods with respect to Loans, (ii) extend the Scheduled
Commitment Termination Date and (iii) modify certain other terms of the Credit Agreement as set forth herein.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:

 

Section
1.       Amendment of Credit Agreement. Subject to satisfaction of the of the conditions
precedent set forth in Section 2 hereof, effective as of May 14, 2017 (as defined below), the Credit Agreement is hereby amended
as follows:

 

(a)       Section
2.03(a) of the Credit Agreement is hereby deleted and replaced in its entirety with the following:

 

“(a)
Setup Fee. The Borrower shall pay to DBNY a Setup Fee in an amount and at the time as set forth in the fee letter between
DBNY and the Borrower dated as of May 12, 2017 (the “May 2017 Fee Letter”). The Borrower agrees that, once
paid, the fees or any part thereof payable hereunder are irrevocable and non-refundable under any circumstances. The May 2017
Fee Letter supersedes all prior fee letters, which remain valid and enforceable until the execution of the May 2017 Fee Letter.”

 

(b)       Section
3.04(a) of the Credit Agreement is hereby amended by replacing any reference therein to Weighted Average Rate with LIBOR Rate.

 

     

     

    

 

(c)       Section
3.04(b) of the Credit Agreement is hereby amended by replacing any reference therein to Weighted Average Rate with LIBOR Rate.

 

(d)       Section
3.04(c) of the Credit Agreement is hereby deleted and replaced in its entirety with the following:

 

“(c)      Compensation.
The Borrower shall compensate each Lender, upon its written request (which request shall set forth in reasonable detail the basis
for requesting such compensation), for all reasonable losses, expenses and liabilities (including any loss, expense or liability
incurred by reason of the liquidation or reemployment of deposits or other funds required by such Lender to fund its Loans, but
excluding in any event the loss of anticipated profits) which such Lender may sustain: (i) if for any reason (other than a default
by such Lender) a Borrowing of Loans does not occur on a date specified therefor in a Borrowing Request (whether or not withdrawn
by the Borrower or deemed withdrawn pursuant to Section 3.04(b)(i) (Increased Costs, Illegality, etc.)), (ii) if any prepayment,
repayment or conversion of any of its Loans occurs on a date which is not the last day of an Interest Period applicable thereto,
(iii) if any prepayment of any of its Loans is not made on any date specified in a notice of prepayment given by the Borrower
or (iv) as a consequence of (c) any other default by the Borrower to repay its Loans when required by the terms of this Agreement
(including an Event of Default resulting in acceleration of the maturity of the Loans hereunder) or (d) an action taken pursuant
to Section 3.04(b)(ii) (Increased Costs, Illegality, etc.). A Lender’s basis for requesting compensation pursuant to this
Section 3.04(c) and a Lender’s calculation of the amount thereof shall, absent manifest error, be final and conclusive and
binding on the Borrower. With respect to clause (ii) of the immediately preceding sentence, the compensation owed to the relevant
Lender shall be equal to (x) the product of (1) the amount of the applicable Loans made by the relevant Lender, (2) the excess
(if any) of (A) the LIBOR Rate for the relevant Interest Period applicable to such Loans over (B) the LIBOR Rate applicable to
a period equal to the number of days remaining in the Interest Period applicable to such Loans and (3) the number of days remaining
in the Interest Period applicable to such Loans, divided by (y) 360.”

 

(e)       Section
6.01(f)(v) of the Credit Agreement is hereby amended by replacing “GSO (or any replacement sub-advisor to FSIC II Advisor)”
with “the Sub-Advisor”.

 

(f)        Section
9.03(b) of the Credit Agreement is hereby amended by replacing each reference therein to GSO with “the Sub-Advisor”.

 

(g)       The
definitions of “Applicable Margin,” “LIBOR Rate,” “Regulatory Event” and “Scheduled
Commitment Termination Date” in Annex I to the Credit Agreement are hereby replaced in their entirety with the following:

 

““Applicable
Margin” means 1.80% per annum.”

 

     2

     

    

 

““LIBOR
Rate” means, with respect to any Interest Period, a rate per annum equal to the rate for deposits in Dollars for a period
of three months that appears on the Bloomberg Screen BTMM Page under the heading “LIBOR FIX BBAM<GO>“ (or any
successor screen page) as of 11:00 a.m., London time, on the day that is two London Banking Days preceding the first day of such
Interest Period; provided, that in the event no such rate is shown for any Interest Period, the LIBOR Rate for such Interest Period
shall be a rate per annum at which three-month deposits in Dollars are offered by Deutsche Bank AG, London Branch, to prime banks
in the London interbank market at 11:00 A.M. (London time) on the relevant date specified above in relation to the first day of
such Interest Period for delivery on the first day of such Interest Reset Period.”

 

““Regulatory
Event” means the Manager, the Equity Owner, FSIC II Advisor, the Borrower or the Sub-Advisor or any of their directors,
principals or officers, as the case may be, when acting in their official capacities in providing investment advice, is formally
investigated, officially charged, indicted or convicted by a court, prosecutor or regulatory or self-regulatory governmental authority
or agency for fraud, misconduct, embezzlement, money laundering, racketeering, insider trading, market manipulation or other similar
illegality or breach of similar regulation.”

 

““Scheduled
Commitment Termination Date” means May 14, 2018.”

 

(h)          The
following definitions are hereby added to Annex I to the Credit Agreement in the applicable alphabetical location:

 

““Fourth
Amendment Closing Date” means May 12, 2017.”

 

““London
Banking Day” means any day on which commercial banks are open for general business (including dealings in foreign exchange
and foreign currency deposits) in London, England.”

 

““May
2017 Fee Letter” has the meaning set forth in Section 2.03(a).”

 

““Sub-Advisor”
means (x) GSO/Blackstone Debt Funds Management LLC, in its capacity as sub-advisor under the Sub-Advisory Agreement, and (y) any
replacement sub-advisor pursuant to an amended Sub-Advisory Agreement or a new sub-advisory agreement.”

 

(i)            The
definitions of “Key Person” and “Key Person Event” in Annex I to the Credit Agreement are hereby deleted
in their entirety.

 

(j)            The
definition of “Super-Collateralization Event” in Annex II to the Credit Agreement is hereby replaced in its entirety
with the following:

 

““Super-Collateralization
Event” means the occurrence of any of the following events or conditions:

 

 (i)
[reserved];

 

     3

     

    

 

(ii)
an event specified in Section 7.01(i) (Bankruptcy, Insolvency, etc.) with respect to the Sub-Advisor or FSIC II Advisor;

 

(iii)
the date on which any of the following becomes effective: (A) any entity acting as a Sub-Advisor is removed, replaced, terminated
or resigns as sub-advisor pursuant to the Sub-Advisory Agreement (including as a result of termination of the Sub-Advisory Agreement)
or otherwise ceases for any reason to act as sub-advisor in respect of or to be the only provider (other than FSIC II Advisor)
of investment advisory services, directly or indirectly, in connection with this Agreement or (B) FSIC II Advisor is removed,
replaced, terminated or resigns as advisor pursuant to the Investment Advisory and Administrative Services Agreement between FSIC
II and FSIC II Advisor, dated February 8, 2012 (as amended); or

 

(iv)
an event specified in Section 7.01(m) (Manager and Equity Owner Events), Section 7.01(n) (Net Asset Value), Section 7.01(o) (Anti-Terrorism
and Anti-Money Laundering Events) or Section 7.01(p) (Regulatory Events).”

 

(k)           The
Commitment of Deutsche Bank AG, New York Branch, as Lender, shall, from and after the Fourth Amendment Closing Date, be replaced
with the Commitment of DBNY set forth on its signature page hereto.

 

(l)            The
address of the Borrower set forth on Schedule 1 of the Credit Agreement is hereby replaced with the following:

 

Dunning
Creek LLC:

201 Rouse Boulevard

Philadelphia, PA 19112

Attention: Legal Department

Telephone: (215) 495-1150

Facsimile: (215) 339-1931

Electronic Mail: credit.notices@fsinvestments.com

 

Section
2.     Conditions Precedent. It shall be a condition precedent to the effectiveness of Section
1 of this Fourth Amendment that each of the following conditions is satisfied (the date on which such effectiveness occurs,
the “Fourth Amendment Closing Date”):

 

(a)         Agreements.
The Administrative Agent shall have received executed counterparts of this Fourth Amendment and the May 2017 Fee Letter duly executed
and delivered by an Authorized Representative of the Borrower.

 

(b)        Evidence
of Authority. The Administrative Agent shall have received:

 

 (1)          a
certificate of an Authorized Representative of the Borrower and a Responsible Officer (which could be the same person as the Authorized
Representative), dated the Fourth Amendment Closing Date, as to:

  

    (i)       the
authority of the Borrower to execute and deliver this Fourth Amendment and to perform its obligations under the Amended Credit
Agreement, the Notes, and each other Credit Document executed by it, in each case as amended by this Fourth Amendment and each
other instrument, agreement or other document to be executed in connection with the transactions contemplated in connection herewith
and therewith;

 

     4

     

    

 

   (ii)       the
absence of any changes in the Organic Documents of the Borrower since the copies delivered in connection with the closing of the
Credit Agreement; and

 

(2)       such
other instruments, agreements or other documents (certified if requested) as the Administrative Agent may reasonably request.

 

(c)          Officer’s
Certificate. The Administrative Agent shall have received a certificate (which may be the same certificate as reference in
Section 2(b)(i) above) of an Authorized Representative of the Borrower and a Responsible Officer (which could be the same
person as the Authorized Representative), in each case on behalf of the Borrower dated as of the Fourth Amendment Closing Date,
in form and substance reasonably satisfactory to the Administrative Agent (which shall be deemed to have been given under the
Credit Agreement), to the effect that, as of such date:

 

(1)       all
conditions set forth in this Section 2 (CONDITIONS PRECEDENT) have been fulfilled;

 

(2)       all
representations and warranties of the Borrower set forth in Article 5 of the Credit Agreement (REPRESENTATIONS AND WARRANTIES)
are true and correct in all material respects as if made on the Fourth Amendment Closing Date (unless expressly made as of a certain
date, in which case it shall be true and correct in all material respects as of such date);

 

(3)       all
representations and warranties set forth in each of the Collateral Documents are true and correct in all material respects as
if made on the Fourth Amendment Closing Date (unless expressly made as of a certain date, in which case it shall be true and correct
in all material respects as of such date); and

 

(4)       no
Default or Event of Default shall be continuing.

 

(d)          Opinion
of Counsel. The Administrative Agent shall have received a legal opinion from Dechert LLP, counsel to the Borrower, the Manager
and FSIC II Advisor, in form and substance reasonably satisfactory to the Administrative Agent covering such matters as the Administrative
Agent may reasonably request.

 

(e)          Manager
Letter. The Administrative Agent shall have received from the Manager a letter in the form of Exhibit A hereto addressed
to the Administrative Agent reaffirming all of its obligations under the Manager Letter entered into in connection with the Credit
Agreement.

 

     5

     

    

 

(f)       Equity
Owner Letter. The Administrative Agent shall have received from the Equity Owner a letter in the form of Exhibit B
hereto addressed to the Administrative Agent reaffirming all of its obligations under the Equity Owner Letter entered into in
connection with the Credit Agreement.

 

(g)       FSIC
II Advisor Letter. The Administrative Agent shall have received from FSIC II Advisor a letter in the form of Exhibit C
hereto addressed to the Administrative Agent reaffirming all of its obligations under the FSIC II Advisor Letter entered into
in connection with the Credit Agreement.

 

(h)       Closing
Fees, Expenses, etc. The Administrative Agent shall have received for its own account, or for the account of the Lenders,
as the case may be, all fees, costs and expenses (x) then due and payable to it under the Credit Agreement and the May 2017 Fee
Letter and (y) incurred in connection with negotiating and documenting this Fourth Amendment; it being understood that payment
of fees under the 2017 Fee Letter shall not count toward utilization of the limit set forth in clause (x) of the definition of
“Administrative Expenses” or toward utilization of any other limit, cap or basket set forth in any Credit Document.

 

(i)       After
giving effect to Section 1 of this Fourth Amendment and any requested Borrowing on the Fourth Amendment Closing Date, (1)
the aggregate principal amount of all Loans outstanding will not exceed the Maximum Commitment and (2) the Overcollateralization
Test is satisfied.

 

(j)       Satisfactory
Legal Form. All limited liability company and other actions or proceedings taken or required to be taken in connection with
the transactions contemplated hereby and all agreements, instruments, documents and opinions of counsel executed, submitted, or
delivered pursuant to or in connection with this Fourth Amendment by or on behalf of the Borrower shall be reasonably satisfactory
in form and substance to the Administrative Agent and its counsel; all certificates and opinions delivered pursuant to this Fourth
Amendment shall be addressed to the Administrative Agent and the Lenders, or the Administrative Agent and the Lenders shall be
expressly entitled to rely thereon; the Administrative Agent and its counsel shall have received all information, and such number
of counterpart originals or such certified or other copies of such information, as the Administrative Agent or its counsel may
reasonably request; and all legal matters incident to the transactions contemplated by this Fourth Amendment shall be reasonably
satisfactory to counsel to the Administrative Agent.

 

Section
3.          Miscellaneous. 

 

(a)       GOVERNING
LAW. THIS FOURTH AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK INCLUDING
SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES.

 

     6

     

    

 

(b)       Amendments,
Etc. None of the terms of this Fourth Amendment may be changed, waived, discharged or terminated unless such change, waiver,
discharge or termination is in writing signed by the Borrower and the Administrative Agent (or other applicable party thereto
as the case may be), and each such waiver or consent shall be effective only in the specific instance and for the specific purpose
for which given.

  

(c)       Severability.
If any one or more of the covenants, agreements, provisions or terms of this Fourth Amendment shall be for any reason whatsoever
held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements,
provisions or terms of this Fourth Amendment and shall in no way affect the validity or enforceability of the other provisions
of this Fourth Amendment.

 

(d)       Counterparts.
This Fourth Amendment may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered
shall be an original, but all such counterparts shall together constitute one and the same instrument.

 

(e)       Successors
and Assigns. All covenants and agreements contained herein shall be binding upon, and inure to the benefit of the parties
hereto and their respective successors and permitted assigns.

 

(f)       Captions.
The captions and section headings appearing herein are included solely for convenience of reference and are not intended to affect
the interpretation of any provision of this Fourth Amendment.

 

(g)       Entire
Agreement. This Fourth Amendment constitutes a final and complete integration of all prior expressions by the parties hereto
with respect to the subject matter hereof and shall (together with the Amended Credit Agreement and the other Credit Documents)
constitute the entire agreement among the parties hereto with respect to the subject matter hereof, superseding all previous oral
statements and other writings with respect thereto.

 

[Signature
pages follow]

 

     7

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Fourth Amendment to be duly executed and delivered as of the day and year
first above written.

 

	 	BORROWER:	 
	 	 	 
	 	DUNNING CREEK LLC, as Borrower
	 	 	 
	 	By:	/s/
    Gerald F. Stahlecker	 
	 	 	Name: Gerald F. Stahlecker
	 	 	Title: Executive Vice President

 

[Signature
Page to Fourth Amendment]

 

     

     

    

 

	 	 		 
	 	ADMINISTRATIVE AGENT:
	 	 	 
	 	DEUTSCHE BANK AG, NEW YORK BRANCH,
    as Administrative Agent
	 	 	 
	 	By:	/s/
    Miller Brownstein	 
	 	 	Name: Miller Brownstein
	 	 	Title: Director
	 	 	 
	 	By:	/s/
    Andrew Johnson	
	 	 	Name: Andrew Johnson
	 	 	Title: Director

 

[Signature
Page to Fourth Amendment]

 

     

     

    

 

	 	 		 
	 	DEUTSCHE BANK AG, NEW YORK BRANCH, as Lender
	 	 	 
	 	By:	/s/
    Miller Brownstein	 
	 	 	Name: Miller Brownstein
	 	 	Title: Director
	 	 	 
	 	By:	/s/
    Andrew Johnson	
	 	 	Name: Andrew Johnson
	 	 	Title: Director

 

The
Commitment of Deutsche Bank AG, New York Branch, as Lender is as follows:

 

	Amount
    of Commitment	Percentage
	$150,000,000	100%

 

[Signature
Page to Fourth Amendment]

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