Document:

Exhibit 10.1

 

Deed of Cross Security

 

 

Tianqi UK Limited

 

RT Lithium Limited

 

 

TABLE OF CONTENTS

 

	
Particulars
    	
1
    
	
 
    	
 
    
	
Recitals
    	
1
    
	
 
    	
 
    	
 
    
	
1
    	
Definitions   and interpretation
    	
1
    
	
 
    	
 
    	
 
    
	
1.1
    	
Definitions
    	
1
    
	
1.2
    	
Interpretation
    	
3
    
	
1.3
    	
Supremacy of interpretation
    	
3
    
	
 
    	
 
    
	
2
    	
Limited   Recourse
    	
4
    
	
 
    	
 
    	
 
    
	
2.1
    	
Limit and release
    	
4
    
	
2.2
    	
Exceptions (Fraud and   negligence)
    	
4
    
	
2.3
    	
Unrestricted remedies
    	
4
    
	
2.4
    	
Restricted remedies
    	
4
    
	
 
    	
 
    	
 
    
	
3
    	
Security
    	
5
    
	
 
    	
 
    	
 
    
	
3.1
    	
Shareholder must perform the   Secured Obligations
    	
5
    
	
3.2
    	
Grant of Security
    	
5
    
	
3.3
    	
Variations and Replacements
    	
5
    
	
3.4
    	
Registration
    	
5
    
	
 
    	
 
    	
 
    
	
4
    	
Nature of   Security
    	
5
    
	
 
    	
 
    	
 
    
	
4.1
    	
Priority
    	
5
    
	
4.2
    	
Dealing with Secured   Property
    	
6
    
	
4.3
    	
Subsequent Securities
    	
6
    
	
4.4
    	
Continuing security
    	
6
    
	
4.5
    	
Preference
    	
6
    
	
4.6
    	
Discharge
    	
6
    
	
 
    	
 
    	
 
    
	
5
    	
Enforcement
    	
6
    
	
 
    	
 
    	
 
    
	
5.1
    	
Enforcement by Non-Defaulter
    	
6
    
	
5.2
    	
Enforcement Administrator
    	
7
    
	
5.3
    	
Powers
    	
7
    
	
5.4
    	
Sale of Secured Property
    	
7
    
	
5.5
    	
Saving of power to appoint   Enforcement Administrator
    	
8
    
	
5.6
    	
Withdrawal
    	
8
    
	
 
    	
 
    	
 
    
	
6
    	
Shares, loans   and other interests
    	
8
    
	
 
    	
 
    	
 
    
	
6.1
    	
Non-Defaulter to retain all   rights and dividends
    	
8
    
	
6.2
    	
Cessation of Defaulter   rights
    	
8
    
	
 
    	
 
    	
 
    
	
7
    	
Protection of   third parties
    	
9
    
	
 
    	
 
    	
 
    
	
7.1
    	
Dealings with Enforcer or   Enforcement Administrator
    	
9
    
	
7.2
    	
Validity of receipt of   Enforcer or Enforcement Administrator
    	
9
    
	
 
    	
 
    	
 
    
	
8
    	
Assignment
    	
9
    
	
 
    	
 
    	
 
    
	
8.1
    	
Assignment only as permitted   by SHA
    	
9
    
	
8.2
    	
Release and replacement of   Security on assignment
    	
9
    

 

i

 

	
9
    	
Liability for   loss and indemnity
    	
9
    
	
 
    	
 
    	
 
    
	
9.1
    	
Persons not liable to   account
    	
9
    
	
9.2
    	
Persons not liable for entry   into possession
    	
9
    
	
9.3
    	
Indemnity
    	
10
    
	
 
    	
 
    	
 
    
	
10
    	
Warranties and   further assurance
    	
10
    
	
 
    	
 
    	
 
    
	
10.1
    	
Warranties
    	
10
    
	
10.2
    	
Further assurance
    	
10
    
	
10.3
    	
Power of Attorney
    	
10
    
	
 
    	
 
    	
 
    
	
11
    	
Application of   PPSA to this deed
    	
10
    
	
 
    	
 
    	
 
    
	
11.1
    	
Enforcement
    	
10
    
	
11.2
    	
Confidentiality
    	
11
    
	
11.3
    	
Notices
    	
11
    
	
11.4
    	
Waiver of certain notices by   Shareholder
    	
11
    
	
11.5
    	
Registration
    	
11
    
	
 
    	
 
    	
 
    
	
12
    	
Goods and   services tax
    	
11
    
	
 
    	
 
    	
 
    
	
13
    	
Moratorium   legislation
    	
11
    
	
 
    	
 
    	
 
    
	
14
    	
Notice not   normally required
    	
11
    
	
 
    	
 
    	
 
    
	
15
    	
Notices
    	
12
    
	
 
    	
 
    	
 
    
	
15.1
    	
Form of Notice
    	
12
    
	
15.2
    	
When Notices are taken to   have been given and received
    	
12
    
	
 
    	
 
    	
 
    
	
16
    	
Ancillary   provisions
    	
12
    
	
 
    	
 
    	
 
    
	
16.1
    	
Entire agreement
    	
12
    
	
16.2
    	
Severability
    	
12
    
	
16.3
    	
Successors and permitted   assigns
    	
12
    
	
16.4
    	
Exercise of rights
    	
13
    
	
16.5
    	
Waiver
    	
13
    
	
16.6
    	
Confidentiality
    	
13
    
	
16.7
    	
Remedies cumulative
    	
13
    
	
16.8
    	
Amendment
    	
13
    
	
16.9
    	
Counterparts
    	
13
    
	
16.10
    	
Applicable law
    	
13
    
	
16.11
    	
Costs
    	
13
    
	
 
    	
 
    	
 
    
	
Schedule 1 - Pro Forma Financing Statement
    	
14
    
	
 
    	
 
    
	
Signing page
    	
15
    

 

ii

 

Particulars

 

	
Dated as of
    	
 
    	
 
    	
 
    	
2014
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Shareholder 1
    	
 
    	
Name
    	
 
    	
Tianqi UK Limited
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Registration No:
    	
 
    	
08960607
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Address
    	
 
    	
c/o Hackwood   Secretaries Limited, One Silk Street, London, 

EC2Y 8HQ, United   Kingdom
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Fax
    	
 
    	
+86 28 8518 3501
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Email
    	
 
    	
vivianwu@tianqilithium.com
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Authorised Officer
    	
 
    	
Vivian Wu
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Shareholder 2
    	
 
    	
Name
    	
 
    	
RT Lithium Limited
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Registration No:
    	
 
    	
incorporated in England and Wales, Company   No. 8785002
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Address
    	
 
    	
400 Capability Green, Luton, Bedfordshire,   England LU1 3AE
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Fax
    	
 
    	
Bob Zatta +1 609 514 8721  

 

Tom Riordan +1 609 514 8722
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Email
    	
 
    	
RZatta@rocksp.com/ TRiordan@rocksp.com
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Authorised Officer
    	
 
    	
Bob Zatta and Tom Riordan
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Recitals
    	
 
    	
A.  
    	
The parties to this deed are also parties to the Shareholders Agreement (SHA).
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
B.  
    	
The parties have agreed to enter into this   deed to secure performance of certain of their obligations to each other   under the SHA.
    
						

 

The parties agree:

 

in consideration of, among other things, the mutual promises contained in this deed:

 

1                               Definitions and interpretation

 

1.1                     Definitions

 

Unless set out below or the context otherwise requires, the definition of each defined expression in this deed (including the Recitals) is the same as is defined in the SHA, and in addition:

 

Authorised Officer means the person nominated by a party in its Particulars, or any person replacing the nominated person as its authorised officer by notice given in accordance with this deed.

 

Authority is any government department, local government council, government or statutory authority or any other party under a Law which has a right to impose a requirement or whose consent is required with respect to the SHA.

 

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Company means Windfield Holdings Pty Ltd (ACN 160 456 164), incorporated in Australia.

 

Completion has the meaning given in the Shareholders Agreement.

 

Default means the failure by a Shareholder to perform, when due, any Secured Obligations.

 

Defaulter means a Shareholder which has committed a Default.

 

Enforcement Administrator means, in relation to an Enforcer, the Enforcer, any receiver, receiver and manager, administrator or attorney appointed under this deed or any agent of the Enforcer which has entered into possession of the whole or part of the Secured Property.

 

Enforcement Expenses means all costs, charges and expenses of the Enforcer and the Enforcement Administrator (including its remuneration) incurred in or incidental to the exercise or performance of any Power under this deed.

 

Enforcer means a party to this deed which has commenced enforcement proceedings under this deed.

 

Financing Statement means a financing statement registerable under the PPSA substantially in the form of the Pro Forma Financing Statement set out in Schedule 1.

 

Law means legislation including regulations, by laws, and other subordinate legislation, the requirements and guidelines of any Authority, including any applicable listing rules, with which a party is legally required to comply, and common law and equity.

 

Non-Defaulter means a Shareholder that is not a Defaulter.

 

Particulars mean the particulars of a party given on page 1 of this deed, as amended by notice given in accordance with this deed.

 

Personal Property means all of the Secured Property that is personal property (as defined in the PPSA) and to which the PPSA applies.

 

Power means any power, right, authority, discretion or remedy conferred on any Shareholder or an Enforcement Administrator by this deed or by Law in relation to this deed.

 

PPSA means the Personal Property Securities Act 2009 (Cth).

 

Prescribed Order means the order prescribed under this deed for the application of all moneys received by an Enforcer or an Enforcement Administrator under or by virtue of this deed, subject to any Law and notwithstanding agreement to the contrary.

 

Proceeds means, in relation to any Secured Property, all proceeds realised as a result of a Shareholder or its Enforcement Administrator taking possession of, or exercising any of its Powers in relation to, the relevant Secured Property.

 

Secured Obligations means, in relation to each Shareholder, its obligations to transfer shares in the Company and the benefit of any Shareholder Debt of the Shareholder to the other Shareholder in accordance with clause 20 (Transfer on Event of Default) of the SHA, clause 21 (Terms and Consequences of Transfers of Shares) of the SHA and clause 19.4 (Drag-along) of the SHA, including payment of liquidated or unliquidated damages under or in connection with those obligations, or as a result of a breach of or default in performance of those obligations under the SHA. It includes all such obligations that a Shareholder would have been liable to perform but for its liquidation or some other reason.

 

Secured Property means, in relation to a Shareholder, all its present and future interest in the following:

 

(a)                       all shares in the capital of, and any other securities of, the Company held by the Shareholder;

 

(b)                       the benefit of any Shareholder Debt of the Shareholder; and

 

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(c)                        all proceeds derived or arising from any of the above.

 

Security means the Security Interests constituted or created by this deed.

 

Security Interest:

 

(a)                       in relation to any Personal Property, has the same meaning as in the PPSA; and

 

(b)                       in relation to property other than Personal Property, means any security for the payment of money or performance of obligations including any security or preferential interest or arrangement of any kind, or any other right of or arrangement with any creditor to have its claims satisfied prior to other creditors with, or from the Proceeds of, any asset including, without limitation, retention of title other than in the ordinary course of business and any deposit of money by way of security.

 

Shareholder means each of Shareholder 1 and Shareholder 2.

 

Shareholders Agreement or SHA means the shareholders agreement dated 31 March 2014 between Chengdu Tianqi Group Co., Ltd, Sichuan Tianqi Lithium Industries, Inc., Tianqi Group HK Co., Limited, Shareholder 1, Shareholder 2 and the Company.

 

Shareholder Debt has the meaning given in the Shareholders Agreement.

 

1.2                     Interpretation

 

In this deed, unless the context otherwise requires:

 

(a)                       the singular includes the plural and vice-versa;

 

(b)                       headings do not affect the interpretation of this deed;

 

(c)                        a reference to a party means a party to this deed as listed on page 1 of this deed and includes that party’s executors, administrators, substitutes, successors and permitted assigns;

 

(d)                       references to a part, clause, schedule, exhibit and annexure refers to a part, clause, schedule, exhibit or annexure of, in or to this deed;

 

(e)                        a reference to this deed includes all schedules, exhibits and annexures to this deed;

 

(f)                         a reference to an agreement, deed, instrument or other document includes the same as amended, novated, supplemented, varied or replaced from time to time;

 

(g)                        a reference to a court is to an Australian court;

 

(h)                       a reference to any legislation or legislative provision includes any statutory modification or re-enactment of, or legislative provision substituted for, and any subordinated legislation issued under, that legislation or legislative provision;

 

(i)                           a reference to a day, month or year is relevantly to a calendar day, calendar month or calendar year;

 

(j)                          a reference to an amount for which a person is contingently liable includes an amount which that person may become actually or contingently liable to pay if a contingency occurs, whether or not that liability will actually arise; and

 

(k)                       no rule of construction is to apply to the disadvantage of a party on the basis that that party drafted the whole or any part of this deed.

 

1.3                     Supremacy of interpretation

 

If there is any conflict between a provision of this deed and a provision of the SHA, this deed shall prevail.

 

3

 

2                               Limited Recourse

 

2.1                     Limit and release

 

(a)                       Subject to clause 2.2 but despite any other provision of this deed, the liability of a Shareholder under or in connection with this deed is limited to the total amount available to the other Shareholder as a result of a realisation of the Secured Property in accordance with this deed (after payment of Enforcement Expenses).

 

(b)                       Each Shareholder waives all claims (including in respect of deceptive and misleading conduct) it may have against the other Shareholder under or in connection with this deed in respect of which that other Shareholder is not liable under paragraph (a).

 

2.2                                Exceptions (Fraud and negligence)

 

(a)                       Nothing in clause 2.1 limits the liability of the Shareholder in respect of any loss, cost or expense suffered or incurred by the other Shareholder arising from that Shareholder’s fraud or gross negligence under or in connection with this deed.

 

(b)                       Failure by a Shareholder to pay all or any part of any amount due under or in connection with this deed does not of itself constitute fraud or gross negligence on its part.

 

2.3                     Unrestricted remedies

 

(a)                       Subject to sub-paragraph (b), nothing in clause 2.1 limits the other Shareholder in:

 

(i)                          exercising its rights or powers under this deed in relation to the Secured Property;

 

(ii)                       obtaining an injunction or other order to restrain any breach of this deed by any party; or

 

(iii)                    obtaining declaratory relief.

 

(b)                       In exercising any right, power or remedy under this deed, neither the other Shareholder nor any Enforcement Administrator shall incur, or have the authority to incur, any liability on behalf of or for the account of the Shareholder except a liability which is itself subject to the limitation in clause 2.1.

 

2.4                     Restricted remedies

 

Except as provided in clause 2.3, the other Shareholder shall not, in relation to any liability for which the Shareholder is not liable under clause 2.1:

 

(a)                       obtain a judgment for the payment of money or damages by the Shareholder;

 

(b)                       issue any demand under s459E(1) of the Corporations Act 2001 (Cth) (or any analogous provision under any other law) against the Shareholder;

 

(c)                        apply for the winding up of the Shareholder;

 

(d)                       levy or enforce any distress or other execution to, on or against any asset of the Shareholder;

 

(e)                        apply for the appointment by a court of a receiver to any of the assets of the Shareholder; and

 

(f)                         exercise or seek to exercise any set-off or counterclaim against the Shareholder,

 

or take proceedings for any of the above and the other Shareholder waives its rights in respect of those applications and proceedings.

 

4

 

3                               Security

 

3.1                     Shareholder must perform the Secured Obligations

 

Each Shareholder agrees to perform the Secured Obligations in accordance with the terms of the SHA and any other agreement in writing to do so.

 

3.2                     Grant of Security

 

For the purpose of securing its obligations to perform the Secured Obligations , each Shareholder charges all its present and future Secured Property by:

 

(a)                       granting a Security Interest in the Personal Property; and

 

(b)                       charging by way of fixed charge Secured Property that is not Personal Property, in favour of the other Shareholder.

 

3.3                     Variations and Replacements

 

(a)                       Each Shareholder acknowledges that the SHA may be varied or replaced from time to time in accordance with its terms.

 

(b)                       Each Shareholder confirms that the Secured Obligations include those obligations under the Shareholder Agreement as varied or replaced and that this applies regardless of:

 

(i)                          how the Shareholder Agreement or this deed is varied or replaced; or

 

(ii)                       the reasons for the variation or replacement; or

 

(iii)                    whether the Secured Obligations are decreased or increased or whether the Shareholder Agreement is otherwise more or less onerous as a result of the variation or replacement.

 

3.4                     Registration

 

Each Shareholder must:

 

(a)                       co-operate with each other Shareholder to register Financing Statements under the PPSA in respect of each Security Interest granted under this deed. Unless otherwise agreed by all Shareholders:

 

(i)                          the details to be included in each Financing Statement must be substantially as set out in Schedule 1; and

 

(ii)                       no Shareholder is required to assist another Shareholder to perfect its Security Interest under the PPSA by any means other than registration of such Financing Statements; and

 

(b)                       co-operate with each other Shareholder to cause this deed to be registered with Companies House in the United Kingdom.

 

4                               Nature of Security

 

4.1                     Priority

 

(a)                       The Security takes priority over all other mortgages, pledges, liens, charges or other forms of Security Interest.

 

(b)                       The Security Interests in favour of each Shareholder rank equally irrespective of the date the Security Interests were registered or the date on which respective Secured Obligations became due.

 

(c)                        Where an item of the Secured Property is held or owned by a Shareholder at the date of this deed, the Security has immediate effect over it.

 

5

 

(d)                       Where an item of Secured Property is acquired by a Shareholder after the date of this deed, the Security has effect over it from the time it is acquired by the Shareholder.

 

4.2                     Dealing with Secured Property

 

(a)                       Each Shareholder warrants to and covenants with each other Shareholder that:

 

(i)                          as at the date of this deed there subsists no Security affecting any of the Secured Property; and

 

(ii)                       it will not create or allow to exist any Security Interest, over the whole or part of its Secured Property ranking in priority to, equally with or after this security, except as permitted by the SHA.

 

(b)                       Except as permitted under the SHA and this deed:

 

(i)                          a Shareholder must not assign, or agree or attempt to assign, or take any step towards assigning, or otherwise dealing with any Secured Property; and

 

(ii)                       a Defaulting Shareholder must not assign, agree or attempt to assign, or take any step towards assigning, or otherwise dealing with any Secured Property.

 

4.3                     Subsequent Securities

 

Each Shareholder covenants with each other Shareholder that any other Security Interest granted, entered into or incurred by it over the whole or any part of the Secured Property, will acknowledge and provide for the priority of and be subject to this Security.

 

4.4                     Continuing security

 

This Security is a continuing security notwithstanding any settlement of account, intervening payment or any other matter or thing whatsoever and remains in full force until a final discharge has been executed by all Shareholders.

 

4.5                     Preference

 

If a claim that any payment, transaction, conveyance or transfer during the currency of the Security affecting or relating in any way to the Secured Obligations is void or voidable under any Law relating to bankruptcy or winding up or the protection of creditors is upheld, conceded or comprised (Preference):

 

(a)                       the Non-Defaulters will forthwith become entitled against the Defaulter to all rights in respect of the Secured Obligations and the Secured Property as they would have had if the Preference had not been made; and

 

(b)                       the Defaulter must forthwith take all such steps and sign all such documents as required by each Non-Defaulter as being necessary or convenient to restore to the Non-Defaulter any Security Interest held by it immediately prior to such Preference.

 

4.6                     Discharge

 

At the written request of either Shareholder, the other Shareholder must discharge the Security if the relevant Shareholder has fully observed and performed its respective Secured Obligations and the SHA has been terminated under clause 27(a)(ii) or 27(a)(iii) (Duration and Termination) of the SHA.

 

5                               Enforcement

 

5.1                     Enforcement by Non-Defaulter

 

Without limiting the remedies available to any Shareholder under the SHA or otherwise, on the occurrence of a Default in respect of a Shareholder, the other Non-Defaulter may exercise any or all Powers provided in this deed to enforce the Security granted by the Defaulter and use

 

6

 

and apply any moneys realised from the exercise of any such power or remedy as provided in this deed.

 

5.2                     Enforcement Administrator

 

(a)                       The Enforcer may at any time after its entitlement to enforce arises:

 

(i)                          appoint any person or two or more persons jointly and/or severally to be an Enforcement Administrator of all or any of the Secured Property of the Defaulter;

 

(ii)                       remove any Enforcement Administrator and in the case of the removal, retirement or death of any Enforcement Administrator may appoint another in his place; and

 

(iii)                    fix the remuneration of any Enforcement Administrator.

 

(b)                       An Enforcement Administrator appointed under this clause is deemed to be the agent of the Defaulter which is solely responsible for his or her acts and defaults and for his or her remuneration.

 

(c)                        Except as otherwise provided in this deed, the Non-Defaulter is not under any liability to the Enforcement Administrator for Enforcement Expenses or otherwise.

 

5.3                     Powers

 

(a)                       Subject always to the SHA (other than the provisions regulating transfer or assignment) and to any restriction in the terms of their appointment, and in addition to any powers granted by Law, every Enforcer or Enforcement Administrator has power without the need for any consent on the part of a Defaulter to do anything in respect of the relevant Secured Property which that Defaulter could do, including (without limitation, unless the terms of appointment restrict an Enforcement Administrator’s powers):

 

(i)                          perform the Secured Obligations that the Defaulter has failed to perform;

 

(ii)                       improve the Secured Property;

 

(iii)                    sell, transfer or otherwise dispose of the Secured Property or any interest in it;

 

(iv)                   lease or licence the Secured Property or any interest in it, or deal with any existing lease or licence (including allowing a surrender or variation);

 

(v)                      take or give up possession of the Secured Property as often as it chooses;

 

(vi)                   sever, remove and sell fixtures attached to the Secured Property; or

 

(vii)                do anything else the Law allows as owner or an Enforcement Administrator of the Secured Property to do.

 

Each of the above paragraphs must be construed independently. No one paragraph limits the generality of any other paragraph.

 

(b)                       All provisions of any Law are deemed to be negatived or varied in so far as they are inconsistent with the terms and provisions expressed in this deed.

 

(c)                        Any dealing under any such power may be on such terms and conditions as the Enforcer or Enforcement Administrator thinks fit.

 

5.4                     Sale of Secured Property

 

(a)                       The Enforcer or Enforcement Administrator may sell or concur in selling any of the Secured Property in accordance with the following provisions of this clause and subject to the SHA.

 

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(b)                       The Enforcer or Enforcement Administrator may sell or concur in selling any of the Secured Property such sale to be made:

 

(i)                          by public auction or private treaty or by tender for cash or on credit;

 

(ii)                       in one lot or in parcels;

 

(iii)                    either with or without special conditions or stipulations as to title or time or mode of payment of purchase money or otherwise;

 

(iv)                   with power to allow the whole or any part of the purchase money to be deferred (whether with or without security);

 

(v)                      whether or not in conjunction with the sale of any property by any person; and

 

(vi)                   upon such other terms and conditions as the Enforcer or Enforcement Administrator may consider expedient.

 

(c)                        The Enforcer or Enforcement Administrator must give to each Non-Defaulter not less than 30 days’ written notice of the Enforcer’s or Enforcement Administrator’s intention to sell or offer for sale the Secured Property of the Defaulter.

 

5.5                     Saving of power to appoint Enforcement Administrator

 

The power to appoint an Enforcement Administrator under this clause may be exercised notwithstanding that at the time when such an appointment is made an order has been made or a resolution passed for the winding up of, or the appointment of an administrator to, the Defaulter, in which case the Enforcer or Enforcement Administrator may not be able to act as the agent of the Defaulter.

 

5.6                     Withdrawal

 

The Enforcer or Enforcement Administrator may at any time give up possession of the Defaulter’s Secured Property and may at any time withdraw from any receivership or administration under this deed.

 

6                              Shares, loans and other interests

 

6.1                    Non-Defaulter to retain all rights and dividends

 

Until a Non-Defaulter becomes entitled to enforce its rights under this deed:

 

(a)                       a Shareholder is entitled to exercise all rights and retain all dividends, interest and other returns in respect of shares, loans and other interests forming part of the Secured Property;

 

(b)                       the Shareholder may exercise any voting power in respect of such shares, loans and other interests as it sees fit; and

 

(c)                        an Enforcer or Enforcement Administrator may not exercise any voting power in respect of such shares, loans and other interests without the Shareholder’s consent.

 

6.2                     Cessation of Defaulter rights

 

Upon an Enforcer becoming entitled to enforce its rights under this deed, all rights of the Defaulter under this clause cease and:

 

(a)                       the Defaulter must procure that all dividends, interest and other returns in respect of shares, loans and other interests forming part of the Secured Property are paid directly to the Enforcer or Enforcement Administrator; and

 

(b)                       the Enforcer or Enforcement Administrator becomes entitled to exercise all rights attaching to such shares, loans and other interests.

 

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7                               Protection of third parties

 

7.1                     Dealings with Enforcer or Enforcement Administrator

 

Any person dealing with an Enforcer or Enforcement Administrator:

 

(a)                       need not enquire whether any event has occurred to authorise the Enforcer or Enforcement Administrator to act;

 

(b)                       is not affected by express notice that any such dealing is unnecessary or improper, and

 

(c)                        may accept the receipt of the Enforcer or the Enforcement Administrator for any money as a discharge from any obligation of being concerned to see to the application or being liable or accountable for any loss or misapplication of that money

 

7.2                     Validity of receipt of Enforcer or Enforcement Administrator

 

The receipt of the Enforcer or Enforcement Administrator is deemed to be authorised and valid for the purpose of protecting any party to a dealing with an Enforcer or Enforcement Administrator, notwithstanding any irregularity or impropriety in any such dealing.

 

8                               Assignment

 

8.1                     Assignment only as permitted by SHA

 

A party must not assign or otherwise dispose of its rights and obligations under this deed otherwise than to a person to which it is permitted to assign its Shareholder interest under the SHA. Subject to that requirement, this deed is binding upon and inures to the benefit of the parties to this deed and their respective successors and permitted assigns.

 

8.2                     Release and replacement of Security on assignment

 

If a Shareholder which is not in breach of this deed or in default under the SHA:

 

(a)                       completes an assignment or other disposition of all or part of its Secured Property (the Assigned Secured Property) in accordance with the SHA;

 

(b)                       provides to the other Shareholder an instrument evidencing the grant of a Security Interest by the incoming assignee of the Assigned Secured Property in the form contemplated by the SHA; and

 

(c)                        undertakes at the cost of the incoming assignee to register, file or record such Security Interest,

 

then the other Shareholder must release and discharge the Security in respect of the Assigned Secured Property.

 

9                               Liability for loss and indemnity

 

9.1                     Persons not liable to account

 

Neither a Non-Defaulter nor an Enforcement Administrator is answerable or accountable for any loss of any kind whatever which may happen in or about the exercise or attempted exercise of any of the Powers except where the Non-Defaulter or an Enforcement Administrator has not conducted itself in good faith or has committed fraud or gross negligence or wilful misconduct.

 

9.2                     Persons not liable for entry into possession

 

Neither an Enforcer nor an Enforcement Administrator is by reason of entering into possession of any part of the Secured Property liable:

 

(a)                       to account as mortgagee in possession or for anything except actual receipts; or

 

9

 

(b)                       for any loss upon realisation or for any default or omission for which a mortgagee in possession might be liable.

 

9.3                     Indemnity

 

(a)                       A Defaulter must, on demand, indemnify and keep indemnified all Enforcers and Enforcement Administrators from and against all Enforcement Expenses incurred in any way in enforcing the Security or in the exercise or attempted exercise of any Power in relation to that Defaulter or its Secured Property.

 

(b)                       An Enforcer or Enforcement Administrator may obtain and pay out of any Proceeds in its, his or her hands all sums necessary to effect such indemnity.

 

(c)                        Each indemnity in this deed is a continuing obligation, separate and independent from the other obligations of the parties and survives termination of this deed. It is not necessary for a party to incur expense or make payment before enforcing a right of indemnity under this deed.

 

10                        Warranties and further assurance

 

10.1              Warranties

 

Each Shareholder warrants to each other Shareholder that it has, by its constitution, adequate corporate powers and authority to enter into this deed and to fulfil its obligations hereunder and that all necessary resolutions have been passed, and all necessary other corporate action has been taken in order to render this deed valid and binding on it.

 

10.2              Further assurance

 

Each Shareholder must from time to time do or cause to be done anything reasonably requested by any other Shareholder:

 

(a)                       to ensure this deed and each Security Interest created under it is fully effective, enforceable and perfected with the stated priority;

 

(b)                       for more satisfactorily mortgaging, assuring or securing the relevant Secured Property to the other Shareholders; or

 

(c)                        for aiding in the execution or exercise of any Power,

 

including, without limitation, the obtaining of any consent, authorisation, approval or exemption from any government or governmental agency or authority, the execution of any other document or agreement or the delivery of documents or evidence of title not inconsistent with this deed.

 

10.3              Power of Attorney

 

Each Shareholder for valuable consideration and by way of security irrevocably appoints each other Shareholder (other than a Defaulter) and each of their respective directors and secretaries severally its attorney to do all things which that Shareholder is obliged to do (but does not do) under or in relation to this deed and in relation to the performance of the Secured Obligations.

 

11                       Application of PPSA to this deed

 

11.1              Enforcement

 

The Shareholders agree that each of the provisions of the PPSA which section 115 of the PPSA permits parties to contract out of, other than sections 117 and 118 (relationship with land laws) and 134(1) and 135 (retention of collateral), do not apply to the enforcement of this Security or any Security Interest under this deed.

 

10

 

11.2              Confidentiality

 

To the extent permitted by section 275 of the PPSA, the parties agree to keep all information of the kind mentioned in section 275(1) of the PPSA confidential and to not disclose that information to any other person, except where disclosure is otherwise permitted or authorised under the SHA.

 

11.3              Notices

 

Notwithstanding anything in this deed, notices or documents required or permitted to be given under this deed for the purposes of the PPSA must be given in accordance with the PPSA.

 

11.4              Waiver of certain notices by Shareholder

 

Each Shareholder waives the right to receive any notice under the PPSA (including notice of a verification statement) unless the notice is required by the PPSA and cannot be excluded. However, upon request by a Shareholder, each Shareholder agrees to provide to that first Shareholder copies of any verification statements concerning registrations made by the second Shareholder against that first Shareholder in the last 5 years preceding the request (or such lesser period as is specified).

 

11.5              Registration

 

Each Shareholder consents to each other Shareholder effecting a registration of a Financing Statement on the Personal Property Securities Register established under the PPSA.

 

12                        Goods and services tax

 

If all or any part of any payment by a Shareholder under this deed is the consideration for a taxable supply for GST purposes then, subject to the payee first providing a tax invoice to that Shareholder, when making the payment the Shareholder must pay to the payee an additional amount equal to that payment multiplied by the appropriate rate of GST.

 

13                        Moratorium legislation

 

The provisions of any Law existing now or in the future which operate directly or indirectly:

 

(a)                       to lessen, modify or vary in favour of a party its obligations under this deed; or

 

(b)                       to delay, postpone, fetter or otherwise prevent or prejudicially affect the exercise by a party to this deed of any of the Powers conferred on it

 

are negatived and excluded from this deed, to the fullest extent that each party may lawfully do so.

 

14                        Notice not normally required

 

(a)                       No Enforcer or Enforcement Administrator need give the Defaulter any notice or demand or allow time to elapse before exercising a right under this deed or conferred by Law (including a right to sell) unless the notice, demand or lapse of time is required by Law and cannot be excluded.

 

(b)                       If the Law requires that a period of notice must be given or a lapse of time must occur or be permitted before a right under this deed or conferred by law may be exercised, then:

 

(i)                          when a period of notice or lapse of time is mandatory, that period of notice must be given or that lapse of time must occur or be permitted by the Enforcer; and

 

(ii)                       when the law provides that a period of notice or lapse of time may be stipulated or fixed by this deed, one day is stipulated and fixed as that period of notice or lapse of time including, if applicable, as the period of notice or lapse of time during which:

 

11

 

A.                          a Default must continue before a notice is given or requirement otherwise made for performance of the Secured Obligations or the observance of other obligations under this deed; and

 

B.                          a notice or request for performance of the Secured Obligations or the observance of other obligations under this deed must remain not complied with before the Enforcer may exercise rights.

 

15                        Notices

 

15.1              Form of Notice

 

Unless expressly stated otherwise in this deed, all notices, certificates, consents, approvals, waivers and other communications in connection with this deed (Notices) must be in writing, signed by the sender (if an individual) or an Authorised Officer of the sender and marked for the attention of the person identified in the Particulars or, if the recipient has notified otherwise, then marked for attention in the last way notified.

 

15.2              When Notices are taken to have been given and received

 

(a)                       A Notice is regarded as given and received:

 

(i)                          if delivered by hand, when left at the address given in the Particulars;

 

(ii)                       if sent by pre-paid post, on the 3rd day following the date of postage;

 

(iii)                    if given by fax, on production of a transmission report by the machine from which the fax was sent which indicates that the fax was sent in its entirety to the recipient’s fax number, unless the recipient informs the sender that the Notice is illegible or incomplete within 4 hours of it being transmitted; and

 

(iv)                   if sent by email, at the time shown in the delivery confirmation report generated by the sender’s email system.

 

(b)                       A Notice delivered or received other than on a day on which trading banks are open for business in Chengdu, Frankfurt, New York and Perth (Business Day) or after 5.00pm (recipient’s time and city) is regarded as received at 9.00am on the following Business Day. A Notice delivered or received before 9.00am (recipient’s time and city) is regarded as received at 9.00am.

 

16                        Ancillary provisions

 

16.1              Entire agreement

 

This deed contains everything the parties have agreed in relation to this deed. No party can rely on an earlier written document or anything said or done by another party, or by a director, officer, agent or employee of that party, before this deed was executed, save as permitted by law.

 

16.2              Severability

 

If any of the provisions of this deed are held to be invalid or unenforceable, the severance provisions of the SHA apply to such invalidity or unenforceability.

 

16.3              Successors and permitted assigns

 

The provisions of this deed enure for the benefit of and are binding upon each Shareholder and their respective successors and permitted assigns.

 

12

 

16.4              Exercise of rights

 

Subject to any contrary express provision of this deed:

 

(a)                       an Enforcer or Enforcement Administrator may exercise a Power at its discretion, and separately or concurrently with another Power;

 

(b)                       a single or partial exercise of a Power by the person does not prevent a further exercise of that or an exercise of any other Power; and

 

(c)                        failure by the person to exercise or delay in exercising a Power does not prevent its exercise or operate as a waiver.

 

16.5              Waiver

 

A waiver of any right, power or remedy under this agreement must be in writing signed by the party granting it. A waiver is only effective in relation to the particular obligation or breach in respect of which it is given. It is not to be taken as an implied waiver of any other obligation or breach or as an implied waiver of that obligation or breach in relation to any other occasion.

 

16.6              Confidentiality

 

The provisions of the SHA relating to confidentiality apply to information provided under this deed by one party to another as if set out in this deed.

 

16.7              Remedies cumulative

 

The rights and remedies provided in this deed are cumulative and not exclusive of any rights or remedies provided by Law.

 

16.8              Amendment

 

No modification, variation or amendment of this deed is of any force unless it is in writing and has been signed by each of the parties.

 

16.9              Counterparts

 

This deed may be executed in any number of counterparts and by different parties in separate counterparts. Each counterpart when so executed is deemed an original but all of which together constitute one and the same instrument.

 

16.10       Applicable law

 

(a)                       This deed is governed by and must be construed in accordance with the laws of Western Australia.

 

(b)                       Without limiting sub-clause (a), to the extent permitted by law the Security is governed by the laws of Western Australia.

 

(c)                        The parties submit irrevocably to the non-exclusive jurisdiction of the Courts of Western Australia and all Courts competent to hear appeals from those Courts.

 

16.11       Costs

 

Each party must pay its own costs of reviewing and executing this deed and any other document provided for or contemplated by this deed.

 

13

 

Schedule 1 - Pro Forma Financing Statement

 

Details for Financing Statement (Clause 3.4(a)):

 

Registration details

 

	
Collateral type:
    	
commercial
    
	
Registration transitional:
    	
no
    
	
secured party group number:
    	
[insert relevant number]
    
	
earlier registration number:
    	
N/A
    

 

Collateral Class

 

	
General property (all present and after   acquired property):
    	
With exceptions
    

 

Additional details

 

	
purchase money security interest applies:
    	
N/A
    

 

Collateral description

 

Collateral is Grantor’s interest in shares, securities, loans and related assets, and all other property described in any security agreement with Secured Party. It excludes all other property and property expressly released. May be subject to control. Grantor breaches a security agreement if, without Secured Party’s consent or agreement, it disposes of collateral, including disposal in the ordinary course of business in certain cases. 

 

Proceeds

 

Yes: ‘all present and after acquired property.’

 

Duration of registration

 

No stated end time

 

Grantor

 

[insert relevant details]

 

14

 

Executed as a deed

 

Signing page

 

 

	
SIGNED, SEALED and DELIVERED by
    	
)
    	
 
    
	
Tianqi UK Limited
    	
)
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	

    	
 
    
	
/s/Wu   Wei                           
    	
Signature of Director
    
	
 
    	
 
    
	
Wu   Wei                               
    	
Name of Director
    
	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
in the presence of:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
/s/Song   Yu                           
    	
Signature of witness
    	
 
    
	
 
    	
 
    	
 
    
	
Song   Yu                           
    	
Name of witness
    	
 
    
	
 
    	
 
    	
 
    
	
No. 10 East Gaopeng     
    	
Address of witness
    	
 
    
	
 
    	
 
    
	
Road Hi-Tech Zone, Chengdu, China
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
SIGNED, SEALED and DELIVERED by
    	
)
    	
 
    
	
RT Lithium Limited
    	
)
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	

    	
 
    
	
/s/Dr. Steffen   Haber                     
    	
Signature of Director
    
	
 
    	
 
    
	
Dr. Steffen   Haber                         
    	
Name of Director
    
	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
in the presence of:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/Dr. Marcus Brune
    	
Signature of witness
    	
 
    
	
 
    	
 
    	
 
    
	
Dr. Marcus Brune
    	
Name of witness
    	
 
    
	
 
    	
 
    	
 
    
	
Altkonigstrasse 40 
    	
Address of witness
    	
 
    
	
 
    	
 
    
	
6 M 06 FriedbergEXHIBIT 10.1

 

FIRST AMENDMENT TO RESTRUCTURING SUPPORT AGREEMENT

 

This FIRST AMENDMENT TO RESTRUCTURING SUPPORT AGREEMENT (this “Amendment”) is made and entered into as of May 27, 2014, and effective as of the Amendment Effective Date (as defined herein), by and among Genco Shipping & Trading Limited (“Genco”) and its undersigned subsidiaries (together with Genco, the “Company Parties”) and the undersigned Supporting Creditors (the “Amending Creditors” and, together with the Company Parties, the “Amendment Parties”).

WHEREAS, reference is made to the Restructuring Support Agreement, effective as of April 3, 2014, by and among the Supporting Creditors and the Company Parties (as such agreement may be amended, restated, supplemented or otherwise modified from time to time, the “Restructuring Support Agreement”);

WHEREAS, the Restructuring Support Agreement contemplates a Restructuring of the Company Parties to be implemented through a prepackaged chapter 11 plan consistent with the terms and conditions of the Restructuring Support Agreement and the Restructuring Term Sheet attached thereto (such chapter 11 plan of reorganization, the “Plan”);

WHEREAS, in accordance with the Restructuring Support Agreement, on April 21, 2014, each of the Company Parties filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code, 11 U.S.C. §§ 101-1532 (as amended, the “Bankruptcy Code”), in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”);

WHEREAS, on April 25, 2014, the Bankruptcy Court entered an Order in the Company Parties’ chapter 11 cases [Docket No. 47] approving the Company Parties’ assumption of the Restructuring Support Agreement pursuant to section 365(a) of the Bankruptcy Code; and

WHEREAS, on May 23, 2014, the Bankruptcy Court ordered a schedule for confirmation of the Plan (the “Confirmation Schedule”); and

WHEREAS, the Amending Creditors and the Company Parties wish to amend the Restructuring Support Agreement in accordance with Section 18 of the Restructuring Support Agreement as set forth more fully herein;

NOW, THEREFORE, in consideration of the mutual promises contained herein, along with other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Amendment Parties hereby agree as follows:

		1.	Capitalized Terms.  Capitalized terms used but not defined in this Amendment have the meanings ascribed to such terms in the Restructuring Support Agreement.

		2.	Amendment.

		a.	Section 8(e) of the Restructuring Support Agreement is hereby deleted and replaced in its entirety with the following:

“the order approving the Disclosure Statement and the solicitation procedures and confirming the Plan shall be entered (such date, the “Confirmation Date”) on or before June  27, 2014; and”.

		b.	The section of the Restructuring Term Sheet located opposite the word “Rights Offering” is amended as follows:

		·	the words “Some or all of the” are inserted at the beginning of the first bullet point.

		·	the words “for 60 days” are stricken from the first bullet point.

		·	the words “party thereto” shall be inserted in the second bullet point after the words “Supporting 2007 Facility Lenders” and after the words “Supporting Noteholders”.

 

		3.	Consent.  Each undersigned Amending Creditor hereby consents to (a) extending the Subscription Deadline (as defined in the Plan) to June 18, 2014; (b) amending the Plan to reflect the new Subscription Deadline; (c) entry into a new Equity Commitment Agreement or an amendment to the Equity Commitment Agreement dated as of April 16, 2014 that (i) reflects the new Confirmation Schedule, (ii) is consistent with the Term Sheet (as revised by this Amendment), (iii) is otherwise on terms and conditions identical to those in the Equity Commitment Agreement dated as of April 16, 2014 and (iv) has been approved by the Required Commitment Parties (as defined in the Equity Commitment Agreement).

 

		4.	Amending Creditors’ Representations and Warranties. Each undersigned Amending Creditor, severally but not jointly, represents, warrants, and acknowledges as follows:

		a.	Authority and Validity.  (i) Such Amending Creditor has the power and authority to execute, deliver, and perform its obligations under this Amendment, and to consummate the transactions contemplated herein, (ii) the execution, delivery, and performance by such Amending Creditor under this Amendment and the consummation of the transactions contemplated herein have been duly authorized by all necessary action on the part of the Amending Creditor, and (iii) this Amendment has been duly executed and delivered by the Amending Creditor and constitutes the legal, valid, and binding agreement of such Amending Creditor and is enforceable against such Amending Creditor in accordance with its terms.

 

		b.	Title.  Such Amending Creditor is the legal or beneficial holder of, and has all necessary authority (including authority to bind any other legal or beneficial holder) with respect to the debt outstanding under the Debt Instruments in the aggregate principal amount set forth in Exhibit A (and in the case of a nominee, it

2

has due and proper authorization to act on behalf of, and to bind, the beneficial owner of such Debt Instruments), and that its interests in such Debt Instruments are free and clear of any pledge, lien, security interest, charge, claim, equity, option, proxy, voting restriction, right of first refusal, or other limitation on disposition or encumbrances of any kind that would adversely affect in any way such Amending Creditor’s performance of its obligations contained in the Restructuring Support Agreement and this Amendment at the time such obligations are required to be performed; and

		c.	Supporting Creditor.  Such Amending Creditor is a Supporting Creditor party to the Restructuring Support Agreement (whether as an original signatory thereto or by subsequent execution and delivery of a Transferee Acknowledgement in accordance with Section 5(a) of the Restructuring Support Agreement).

		5.	Company Parties’ Representations and Warranties.  Each of the Company Parties hereby represents, warrants, and acknowledges that (i) it has the power and authority to execute, deliver, and perform its obligations under this Amendment, and to consummate the transactions contemplated herein, (ii) the execution, delivery, and performance by the Company Parties under this Amendment and the consummation of the transactions contemplated herein have been duly authorized by all necessary action on the part of the applicable Company Parties, and (iii) this Amendment has been duly executed and delivered by the applicable Company Parties and constitutes the legal, valid, and binding agreement of such Company Parties and is enforceable against the Company Parties in accordance with its terms.

		6.	Continued Effect of Restructuring Support Agreement.  The Restructuring Support Agreement remains unchanged and in full force and effect, except as specifically amended by this Amendment and except to the extent individual holdings reflected on each Supporting Creditor’s signature page to the original Restructuring Support Agreement have changed as a result of a transfer pursuant to Section 5(a) of the Restructuring Support Agreement.

		7.	Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ANY CONFLICTS OF LAW PROVISION WHICH WOULD REQUIRE THE APPLICATION OF THE LAW OF ANY OTHER JURISDICTION.

		8.	Amendment Effective Date.  This Amendment shall become effective as to each of the Company Parties and each Supporting Creditor under the Restructuring Support Agreement upon the execution and delivery of counterpart signatures by each of the Company Party and Amending Creditors constituting (i) Required Supporting 2007 Facility Lenders, (ii) Required Supporting $100 Million Facility Lenders, (iii) Required Supporting $253 Million Facility Lenders, and (iv) Required Supporting Noteholders (as each such term is defined in Section 7(b) of the Restructuring Support Agreement) (such date, the “Amendment Effective Date”).

3

		9.	Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original and all of which shall constitute one and the same agreement.  The signatures of all of the Amending Parties need not appear on the same counterpart. Delivery of an executed signature page of this Amendment by facsimile or electronic mail shall be effective as delivery of a manually executed signature page of this Amendment.

		10.	No Waiver.  The execution, delivery and effectiveness hereof shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Parties under the Restructuring Support Agreement.

 

[Signature Pages Follow]

4

IN WITNESS WHEREOF, the Amending Parties have caused this FIRST AMENDMENT TO PLAN SUPPORT AGREEMENT to be duly executed as of the date above written.

 

GENCO SHIPPING & TRADING LIMITED

 

	
By:

	/s/ John C. Wobensmith	
		
Name: John C. Wobensmith

	
	
       

	
Title: Chief Financial Officer

 

	
GENCO ACHERON LIMITED

	
GENCO CHARGER LIMITED

	
GENCO BEAUTY LIMITED

	
GENCO HUNTER LIMITED

	
GENCO KNIGHT LIMITED

	
GENCO PREDATOR LIMITED

	
GENCO LEADER LIMITED

	
GENCO WARRIOR LIMITED

	
GENCO MUSE LIMITED

	
GENCO BAY LIMITED

	
GENCO VIGOUR LIMITED

	
GENCO OCEAN LIMITED

	
GENCO CARRIER LIMITED

	
GENCO AVRA LIMITED

	
GENCO PROSPERITY LIMITED

	
GENCO MARE LIMITED

	
GENCO SUCCESS LIMITED

	
GENCO SPIRIT LIMITED

	
GENCO WISDOM LIMITED

	
GENCO LORRAINE LIMITED

	
GENCO MARINE LIMITED

	
GENCO PYRENEES LIMITED

	
GENCO EXPLORER LIMITED

	
GENCO LOIRE LIMITED

	
GENCO PIONEER LIMITED

	
GENCO CLAUDIUS LIMITED

	
GENCO PROGRESS LIMITED

	
GENCO BOURGOGNE LIMITED

	
GENCO RELIANCE LIMITED

	
GENCO PICARDY LIMITED

	
GENCO SURPRISE LIMITED

	
GENCO AQUITAINE LIMITED

	
GENCO SUGAR LIMITED

	
GENCO NORMANDY LIMITED

	
GENCO AUGUSTUS LIMITED

	
GENCO AUVERGNE LIMITED

	
GENCO TIBERIUS LIMITED

	
GENCO PROVENCE LIMITED

	
GENCO LONDON LIMITED

	
GENCO ARDENNES LIMITED

	
GENCO TITUS LIMITED

	
GENCO BRITTANY LIMITED

	
GENCO CONSTANTINE LIMITED

	
GENCO LANGUEDOC LIMITED

	
GENCO HADRIAN LIMITED

	
GENCO RHONE LIMITED

	
GENCO COMMODUS LIMITED

	
GENCO INVESTMENTS LLC

	
GENCO MAXIMUS LIMITED

	
GENCO MANAGEMENT (USA) LLC

	
GENCO CLAUDIUS LIMITED

	
GENCO SHIP MANAGEMENT LLC

	
GENCO CHALLENGER LIMITED

	
GENCO RE INVESTMENTS LLC

	
GENCO CHAMPION LIMITED

	
 

 

	
By:

	/s/ John C. Wobensmith	
		
Name: John C. Wobensmith

	
	
       

	
Title: Chief Financial Officer

	

 

[Signature Page to First Amendment to Restructuring Support Agreement]

GENCO CAVALIER LLC

GENCO RAPTOR LLC

GENCO THUNDER LLC

 

	
By:

	/s/ John C. Wobensmith	
		
Name: John C. Wobensmith

	
	
       

	
Title: Manager

	

 

[Signature Page to First Amendment to Restructuring Support Agreement]

Alden Global Capital LLC

 

 

	By:	/s/ Beth Pierce                     

Name:  Beth Pierce

 Title:  Vice President

 

[Signature Page to First Amendment to Restructuring Support Agreement]

APOLLO SPECIAL OPPORTUNITIES MANAGED

 ACCOUNT, L.P.

BY: APOLLO SOMA ADVISORS, L.P., its general

 partner

BY: APOLLO SOMA CAPITAL MANAGEMENT, LLC,

 its general partner

 

	By:	/s/ Joseph D. Glatt                     

Name:  Joseph D. Glatt

 Title:  Vice President and Secretary

AES (LUX) S.A R.L.

 

BY: APOLLO EUROPEAN STRATEGIC

 MANAGEMENT, L.P., its investment manager

BY: APOLLO EUROPEAN STRATEGIC

 MANAGEMENT GP, LLC, its general partner

 

	By:	/s/ Joseph D. Glatt                     

Name:  Joseph D. Glatt

 Title:  Vice President and Secretary

AEC (LUX) S.A R.L.

BY: APOLLO EUROPEAN CREDIT MANAGEMENT,

 L.P., its investment manager

BY: APOLLO EUROPEAN CREDIT MANAGEMENT

 GP, LLC, its general partner

 

	By:	/s/ Joseph D. Glatt                     

Name:  Joseph D. Glatt

 Title:  Vice President and Secretary

 

[Signature Page to First Amendment to Restructuring Support Agreement]

APOLLO CENTRE STREET PARTNERSHIP, L.P.

 

BY: APOLLO CENTRE STREET MANAGEMENT, LLC,

 its investment manager

 

	By:	/s/ Joseph D. Glatt                     

Name:  Joseph D. Glatt

 Title:  Vice President and Secretary

ANS U.S. HOLDINGS LTD

 

BY: APOLLO SK STRATEGIC ADVISORS, LLC, its

 sole director

 

	By:	/s/ Joseph D. Glatt                     

Name:  Joseph D. Glatt

 Title:  Vice President and Secretary

 

APOLLO CREDIT OPPORTUNITY FUND III LP

 

BY: APOLLO CREDIT OPPORTUNITY ADVISORS III

 LP, its general partner

BY: APOLLO CREDIT OPPORTUNITY ADVISORS III

 GP LLC, its general partner

 

	By:	/s/ Joseph D. Glatt                     

Name:  Joseph D. Glatt

 Title:  Vice President and Secretary

 

[Signature Page to First Amendment to Restructuring Support Agreement]

APOLLO FRANKLIN PARTNERSHIP, L.P.

 

BY: APOLLO FRANKLIN ADVISORS (APO DC), L.P.,

 its general partner

BY: APOLLO FRANKLIN ADVISORS (APO DC-GP),

 LLC, its general partner

 

	By:	/s/ Joseph D. Glatt                     

Name:  Joseph D. Glatt

 Title:  Vice President and Secretary

APOLLO ZEUS STRATEGIC INVESTMENTS, L.P.

 

BY: APOLLO ZEUS STRATEGIC MANAGEMENT,

 LLC, its investment manager

 

	By:	/s/ Joseph D. Glatt                     

Name:  Joseph D. Glatt

 Title:  Vice President and Secretary

 

[Signature Page to First Amendment to Restructuring Support Agreement]

Bank of America, N.A.

 

 

	By:	/s/ Jonathan M. Barnes                     

Name:  Jonathan M. Barnes

 Title:  Vice President

 

[Signature Page to First Amendment to Restructuring Support Agreement]

Centerbridge Capital Partners II (Cayman), L.P.

 

Centerbridge Capital Partners SBS II (Cayman), L.P.

 

Centerbridge Special Credit Partners II AIV IV (Cayman), L.P.

 

Centerbridge Credit Partners, LP

 

Centerbridge Credit Partners Master, LP

	By:	/s/ Bao Truong                     

Name:  Bao Truong

 Title:  Senior Managing Director

 

[Signature Page to First Amendment to Restructuring Support Agreement]

CITIGROUP GLOBAL MARKETS INC.

	By:	/s/ Linda R. Gianna Hasio                     

Name:  Linda R. Gianna Hasio

 Title:  Director

 

[Signature Page to First Amendment to Restructuring Support Agreement]

CITIGROUP FINANCIAL PRODUCTS INC.

	By:	/s/ Michael Eliason                     

Name:  Michael Eliason

 Title:  Authorized Signatory

 

[Signature Page to First Amendment to Restructuring Support Agreement]

CITIBANK N.A.

	By:	/s/ Michael Eliason                     

Name:  Michael Eliason

 Title:  Attorney-In-Fact

 

[Signature Page to First Amendment to Restructuring Support Agreement]

Credit Value Partners, LP, for funds and accounts

 under management

 

	By:	/s/ Donald Pollard                     

Name:  Donald Pollard

 Title:  Authorized Signatory

 

[Signature Page to First Amendment to Restructuring Support Agreement]

Gracie Credit Opportunities Master Fund, LP

 

By:  P&S Credit Management, LP

	By:	/s/ Sam Konz                     

Name:  Sam Konz

 Title:  CFO

 

[Signature Page to First Amendment to Restructuring Support Agreement]

P. Gracie, Ltd

 

By:  P&S Credit Management, LP

	By:	/s/ Sam Konz                     

Name:  Sam Konz

 Title:  CFO

 

[Signature Page to First Amendment to Restructuring Support Agreement]

Kildonan Castle Global Credit Opportunity Master Fund Ltd.

 

	By:	/s/ S. Dhulipaca                     

Name:  S. Dhulipaca

 Title:  CIO

 

[Signature Page to First Amendment to Restructuring Support Agreement]

Midtown Acquisitions LP

 

	By:	/s/ Avram Z. Friedman                     

Name:  Avram Z. Friedman

 Title:  Manager

 

[Signature Page to First Amendment to Restructuring Support Agreement]

Onex Debt Opportunity Fund, Ltd.

 

By: Onex Credit Partners, LLC, its investment manager

 

	By:	/s/ Kevin Connors                     

Name:  Kevin Connors

 Title:  Portfolio Manager

 

[Signature Page to First Amendment to Restructuring Support Agreement]

OCP Investment Trust

 

By: Onex Credit Partners, LLC, its manager

 

		By:	/s/ Kevin Connors                     

Name:  Kevin Connors

 Title:  Portfolio Manager

 

[Signature Page to First Amendment to Restructuring Support Agreement]

PANNING MASTER FUND, LP

By: Panning Capital Management, LP as investment manager

	By:	/s/ William Kelly                     

Name:  William Kelly

 Title:  COO

 

[Signature Page to First Amendment to Restructuring Support Agreement]

SILVER POINT CAPITAL FUND, L.P.

	By:	/s/ Michael A. Gatto                     

Name:  Michael A. Gatto

 Title:  Authorized Signatory

 

[Signature Page to First Amendment to Restructuring Support Agreement]

SPCP GROUP, LLC,

	By:	/s/ Michael A. Gatto                     

Name:  Michael A. Gatto

 Title:  Authorized Signatory

 

[Signature Page to First Amendment to Restructuring Support Agreement]

Permal Stone Lion Fund Ltd.

By:      Stone Lion Capital Partners L.P.,

Investment Manager

	By:	/s/ Claudia Borg                     

Name:  Claudia Borg

 Title:  Authorized Signatory

 

[Signature Page to First Amendment to Restructuring Support Agreement]

Stone Lion Portfolio L.P.

By: Stone Lion Capital Partners L.P.,

Its Investment Manager

	By:	/s/ Claudia Borg                     

Name:  Claudia Borg

 Title:  General Counsel

 

[Signature Page to First Amendment to Restructuring Support Agreement]

STRATEGIC VALUE MASTER FUND, LTD.

By:  Strategic Value Partners, LLC, its Investment Manager

	By:	/s/ Lewis Schwartz                     

Name:  Lewis Schwartz

 Title:  Chief Financial Officer

 

[Signature Page to First Amendment to Restructuring Support Agreement]

STRATEGIC VALUE SPECIAL SITUATIONS MASTER FUND II, L.P.

By:  SVP Special Situations II LLC, its Investment Manager

 

	By:	/s/ Lewis Schwartz                     

Name:  Lewis Schwartz

 Title:  Chief Financial Officer

 

[Signature Page to First Amendment to Restructuring Support Agreement]

STRATEGIC VALUE SPECIAL SITUATIONS MASTER FUND III, L.P.

By:  SVP Special Situations III LLC, its Investment Manager

  

	By:	/s/ Lewis Schwartz                     

Name:  Lewis Schwartz

 Title:  Chief Financial Officer

 

[Signature Page to First Amendment to Restructuring Support Agreement]

STRATEGIC VALUE SPECIAL SITUATIONS OFFSHORE FUND III-A, L.P.

By: SVP Special Situations III-A LLC its Investment Manager

	By:	/s/ Lewis Schwartz                     

Name:  Lewis Schwartz

 Title:  Chief Financial Officer

 

[Signature Page to First Amendment to Restructuring Support Agreement]

MAP 139 SEGREGATED PORTFOLIO OF LMA SPC

By:            Vendor Capital Management LP

Its:            Investment Adviser

 

	By:	/s/ Michael J. Wartell                     

Name:  Michael J. Wartell

 Title:  Co-Chief Investment Officer

 

[Signature Page to First Amendment to Restructuring Support Agreement]

VENDOR CAPITAL MASTER FUND LTD

By:            Vendor Capital Management LP

Its:            Investment Manager

  

	By:	/s/ Michael J. Wartell                     

Name:  Michael J. Wartell

 Title:  Co-Chief Investment Officer

 

[Signature Page to First Amendment to Restructuring Support Agreement]

ADVANTAGE OPPORTUNITIES FUND, L.P.

 

 

	By:	/s/ Irvin Schlussel                     

Name:             Irvin Schlussel

Title:                Managing Partner

 

[Signature Page to First Amendment to Restructuring Support Agreement]

BROWNSTONE INVESTMENT GROUP, LLC

 

 

	By:	/s/ Douglas Lowey                     

Name:             Douglas Lowey

Title:                CEO

 

[Signature Page to First Amendment to Restructuring Support Agreement]

FIDELITY ADVISOR SERIES I FUND; FIDELITY ADVISOR LEVERAGED

 COMPANY STOCK FUND

 

 

	By:	/s/ Joseph Zambello                     

Name:             Joseph Zambello

Title:                Deputy Treasurer

 

[Signature Page to First Amendment to Restructuring Support Agreement]

FIDELITY SECURITIES FUND; FIDELITY LEVERAGED COMPANY STOCK FUND

 

 

	By:	/s/ Joseph Zambello                     

Name:             Joseph Zambello

Title:                Deputy Treasurer

 

[Signature Page to First Amendment to Restructuring Support Agreement]

NEW GENERATION ADVISORS, LLC

 

 

	By:	/s/ Johan D. Goedkoop                     

Name:             Johan D. Goedkoop

Title:                Vice President

 

[Signature Page to First Amendment to Restructuring Support Agreement]

JLP CREDIT OPPORTUNITY MASTER FUND LTD.

 

By:            Phoenix Investment Adviser, LLC, its Investment Manager

 

 

	By:	/s/  Jeff Peskind                     

Name:             Jeff Peskind

Title:                CIO

 

[Signature Page to First Amendment to Restructuring Support Agreement]

JLP STRESSED CREDIT FUND LP

 

By:            Phoenix Investment Adviser, LLC, its Investment Manager

 

 

	By:	/s/  Jeff Peskind                     

Name:              Jeff Peskind

Title:                CIO

 

[Signature Page to First Amendment to Restructuring Support Agreement]

WILFRID ADVISORS AG

 

 

	By:	/s/ Nicholas W. Walsh                     

Name:             Nicholas W. Walsh

Title:                President

[Signature Page to First Amendment to Restructuring Support Agreement]

BNP PARIBAS

	By:	   /s/ Eric Eugène                                   

Name: Eric Eugène

Title:  Global Head of Transportation Group

	By:	  /s/ Patricia Lormeau                           

Name: Patricia Lormeau

Title:

[Signature Page to First Amendment to Restructuring Support Agreement]

Credit Agricole Corporate and Investment Bank

	By:	   /s/ Michael Choina                           

Name: Michael Choina

Title:  Director

	By:	   /s/ Eden Rahman                               

Name: Eden Rahman

Title:  Associate

[Signature Page to First Amendment to Restructuring Support Agreement]

Deutsche Bank AG Filiale Deutschlandgeschäft

	By:	  /s/ K. Seefeld                                      

Name: K. Seefeld

Title:  Director

	By:	   /s/ Bastian Duhmert                         

Name: Bastian Duhmert

Title:  Director

[Signature Page to First Amendment to Restructuring Support Agreement]

DVB Bank SE

	By:	   /s/ Joachim Götz                                

Name: Joachim Götz

Title:  Vice President

	By:	   /s/ Bianca Blum                                 

Name: Bianca Blum

Title:  Vice President

[Signature Page to First Amendment to Restructuring Support Agreement]

Skandinaviska Enskilda Banken AB (publ).

	By:	   /s/ Ame Juell-Skielse                        

Name: Arne Juell-Skieise

Title:

	By:	   /s/ Jan Dachién                                 

Name: Jan Dachién

Title:

[Signature Page to First Amendment to Restructuring Support Agreement]

Credit Agricole Corporate and Investment Bank

	By:	   /s/ Michael Choina                           

Name: Michael Choina

Title:  Director

	By:	   /s/ Eden Rahman                               

Name: Eden Rahman

Title:  Associate

[Signature Page to First Amendment to Restructuring Support Agreement]

Skandinaviska Enskilda Banken AB (publ).

	By:	   /s/ Bjarte Böe                                     

Name: Bjarte Böe

Title:

Skandinaviska Enskilda Banken AB (publ).

	By:	   /s/ Magnus Rundgren                     

Name: Magnus Rundgren

Title:

[Signature Page to First Amendment to Restructuring Support Agreement]

CREDIT INDUSTRIEL ET COMMERCIAL

	By:	   /s/ Andrew McKuin                         

Name: Andrew McKuin

Title:  Vice President

	By:	   /s/ Alex Aupoix                                 

Name: Alex Aupoix

Title:  Managing Director

[Signature Page to First Amendment to Restructuring Support Agreement]

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