Document:

Exhibit 4.59

      

       

      

      SUPPLEMENTAL LETTER

      

      

      
        
          	To:	
                  SEANERGY MARITIME HOLDINGS CORP.

                

        

      

      as Borrower

      of Trust Company Complex, Ajeltake Road

      Ajeltake Island, Majuro

      MH96960, the Marshall Islands

      

      

      
        
          	From:	
                  JELCO DELTA HOLDING CORP.

                

        

      

      as Lender

      Jardine House, 4th Floor,

      33-35 Reid Street

      P.O. Box HM 1431

      Hamilton HM FX, Bermuda

      29 May 2019

       

      

       Dear Sirs,

       

      Facility Agreement originally entered into on 4 October 2016, as amended by amendment no.1 on 17 November 2016, as amended and restated on 28 November 2016, supplemented on 13 June 2018 and as
        further amended and restated on 13 February 2019, and made between (i) Seanergy Maritime Holdings Corp., as borrower (the "Borrower") and (ii) Jelco Delta Holding Corp., as lender (the "Lender") in respect of a loan facility of up to US$12,800,000
        (the “Facility Agreement”)

      

      

      We refer to the Facility Agreement. Defined expressions in the Facility Agreement shall have the same meanings when used in this Supplemental Letter and for the purposes of this Supplemental Letter.

       

      In exchange for, among other things, the full and final settlement of unpaid interest in the amount of $159,196.75 accrued under the Facility Agreement until 31 March 2019 and the neutralization of the  interest Rate
        for the period from 1 April 2019 until 31 December 2019, the Lender and the Borrower have entered into a Securities and Purchase Agreement dated 9 May 2019 with respect to 1,823,529 units of the Borrower, each unit consisting of (i) one common
        share par value $0.0001 per share, (ii) one Class B Warrant, and (iii) one Class C Warrant, for $3.40 per unit.

       

      This Supplemental Letter sets out the terms and conditions on which the Lender agrees, at the request of the Borrower, to amend certain provisions of the Facility Agreement as described in Clause 1.1 below.

       

      
        
          	1.1	
                  We hereby confirm our approval, consent and acceptance of the following with effect as of 1 April 2019:

                

        

      

       

      
        
          	 	a)	
                  To delete the definition of “Applicable Margin” in Clause 1.2 (Definitions) of the Facility Agreement in its entirety and replacing it with the
                    following:

                

        

      

       

      “"Applicable Margin" means:

       

      
        
          	

                	(a)	
                  during the period commencing on 1 April 2019 and ending on 31 December 2019 (inclusive), 0 per cent. per annum; and

                

        

      

       

      
        
          	

                	(b)	
                  during the period commencing on 1 January 2020 and ending on the Final Repayment Date, 8.5 per cent. per annum;”;

                

        

      

       

      
        
          	

                	b)	
                  To delete Clause 3.4 (Interest Rate) of the Facility Agreement in its entirety and replacing it with the following:

                

           

          

        

      

      
        
          

      

      
      “3.4 Interest Rate

       

      
        
          	

                	(a)	
                  During the period commencing on 1 April 2019 and ending on 31 December 2019 (inclusive), interest shall accrue on the Loan at a rate equal to the Applicable Margin; and

                

        

      

       

      
        
          	

                	(b)	
                  During each Interest Period thereafter, interest shall accrue on the Loan at a rate equal to the sum of (a) the Applicable Margin and (b) the three (3) month London Interbank Offered Rate for deposits in Dollars determined at or
                    about 11.00 a.m. (London time) two (2) Banking Days prior to the first day of each Interest Period (“LIBOR”).”; and

                

        

      

       

      
        
          	

                	c)	
                  To construe throughout all references in the Facility Agreement to “this Agreement” and all references in the Finance Documents (other than the Facility Agreement) to the “Loan Agreement” as references to the Facility Agreement as
                    amended and supplemented by this Supplemental Letter.

                

        

      

      

      

      
        
          	2	
                  Governing law and Jurisdiction

                

        

      

       

      Clause 16 (Governing Law and Jurisdiction) of the Facility Agreement, as amended and supplemented by this Supplemental Letter, shall apply to this
        Supplemental Letter as if it were expressly incorporated in it.

       

      
        
          	3	
                  Process Agent

                

        

      

       

      The Borrower, hereby, irrevocably appoints Messrs. E.J.C Album Solicitors, presently of Landmark House, 190 Willifield Way, London, NW11 6YA, England (Attention of Mr. Edward Album, Tel +44 (0) 20
        8455 7653, Fax +44 (0) 20 8457 5558, e-mail: ejca@mitgr.com), to act as its agent to receive and accept on its behalf any process or other document relating to any proceedings in the English Courts which are connected with this Supplemental
        Letter.

       

      Please confirm your agreement by signing the acknowledgement below.

       

      	
              Yours faithfully

            	 
	 	 
	
              /s/ Alastair Macdonald

            	 
	 	 
	
              Alastair Macdonald

            	 
	 	 
	
              29 May 2019

            	 
	 	 
	
              for and on behalf of

            	 
	
              Jelco Delta Holding Corp.

            	 
	
              as Lender

            	 

      

      

      We hereby acknowledge receipt of the above Supplemental Letter and confirm our agreement to the terms hereof.

       

      

      	
              /s/ Stavros Gyftakis

            	 
	 	 
	
              Stavros Gyftakis

            	 
	 	 
	
              29 May 2019

            	 
	
              for and on behalf of

            	 
	
              Seanergy Maritime Holdings Corp.

            	 
	
              as Borrower

            	 

      

      

      

      

      
        2Exhibit 4.62

      

       

      

      SUPPLEMENTAL LETTER

      

      

      
        
          	To:	
                  SEANERGY MARITIME HOLDINGS CORP.

                

        

      

      as Borrower

      of Trust Company Complex, Ajeltake Road

      Ajeltake Island, Majuro

      MH96960, the Marshall Islands

      

      

      
        
          	From:	
                  JELCO DELTA HOLDING CORP.

                

        

      

      as Lender

      Jardine House, 4th Floor,

      33-35 Reid Street

      P.O. Box HM 1431

      Hamilton HM FX, Bermuda

      29 May 2019

       

      

      Dear Sirs,

       

      Facility Agreement originally entered into on 24 May 2017, as amended and supplemented by a supplemental letter on 22 June 2017 and a second supplemental letter on 22 August 2017, as amended and
        restated on 27 September 2017 and further supplemented on 13 February 2019, and made between (i) Seanergy Maritime Holdings Corp., as borrower (the "Borrower") and (ii) Jelco Delta Holding Corp., as lender (the "Lender") in respect of a loan
        facility of up to US$16,200,000 (the “Facility Agreement”)

      

      

      We refer to the Facility Agreement. Defined expressions in the Facility Agreement shall have the same meanings when used in this Supplemental Letter and for the purposes of this Supplemental Letter.

       

      In exchange for, among other things, the full and final settlement of unpaid interest in the amount of $353,311.06 accrued under the Facility Agreement until 31 March 2019 and the neutralization of the Interest Rate
        for the period from 1 April 2019 until 31 December 2019, the Lender and the Borrower have entered into a Securities and Purchase Agreement dated 9 May 2019 with respect to 1,823,529 units of the Borrower, each unit consisting of (i) one common
        share par value $0.0001 per share, (ii) one Class B Warrant, and (iii) one Class C Warrant, for $3.40 per unit.

       

      This Supplemental Letter sets out the terms and conditions on which the Lender agrees, at the request of the Borrower, to amend certain provisions of the Facility Agreement as described in Clause 1.1 below.

       

      
        	
                1.1

              	
                We hereby confirm our approval, consent and acceptance of the following with effect as of 1 April 2019:

              

         

        

      

      
        	 	
                a)

              	
                To delete the definition of “Applicable Margin” in Clause 1.2 (Definitions) of the Facility Agreement in its entirety and
                  replacing it with the following:

              

        
           

          

          “"Applicable Margin" means:

        

      

      
         

        

        	 	
                (a)

              	
                during the period commencing on 1 April 2019 and ending on 31 December 2019 (inclusive), 0 per cent. per annum;

              

         

        

      

      
        	 	
                (b)

              	
                during the period commencing on 1 January 2020 and ending on the Final Repayment Date, 6 per cent. per annum.”;

              

         

        

      

      
        	 	
                b)

              	
                To delete Clause 3.4 (Interest Rate) of the Facility Agreement in its entirety and replacing it with the following:

              

         

        

      

      
        
          

      

      
      
        “3.4 Interest Rate

         

          

      

      
        	 	
                (a)

              	
                During the period commencing on 1 April 2019 and ending on 31 December 2019 (inclusive), interest shall accrue on the Loan at a rate equal to the Applicable Margin; and

              

         

        

      

      
        	 	
                (b)

              	
                During each Interest Period thereafter, interest shall accrue on the Loan at a rate equal to the sum of (a) the Applicable Margin and (b) the three (3) month London Interbank Offered Rate for deposits in
                  Dollars determined at or about 11.00 a.m. (London time) two (2) Banking Days prior to the first day of each Interest Period (“LIBOR”).”; and

              

      

      

      

      
        	 	
                c)

              	
                To construe throughout all references in the Facility Agreement to “this Agreement” and all references in the Finance Documents (other than the Facility Agreement) to the “Loan Agreement” as references to
                  the Facility Agreement as amended and supplemented by this Supplemental Letter.

              

      

      

      

      
        	
                2

              	
                Governing law and Jurisdiction

              

      

       

      

      Clause 16 (Governing Law and Jurisdiction) of the Facility Agreement, as amended and supplemented by this Supplemental Letter, shall apply to this
        Supplemental Letter as if it were expressly incorporated in it.

       

      
        	
                3

              	
                Process Agent

              

      

       

      

      The Borrower, hereby, irrevocably appoints Messrs. E.J.C Album Solicitors, presently of Landmark House, 190 Willifield Way, London, NW11 6YA, England (Attention of Mr. Edward Album Tel +44 (0) 20
        8455 7653, Fax +44 (0) 20 8457 5558, e-mail: ejca@mitgr.com), to act as its agent to receive and accept on its behalf any process or other document relating to any proceedings in the English Courts which are connected with this Supplemental
        Letter.

       

      Please confirm your agreement by signing the acknowledgement below.

       

      	
              Yours faithfully

            
	 
	
              /s/ Alastair Macdonald

            
	
              

              

            	 
	 	 
	
              Alastair Macdonald

            	 
	 	 
	
              29 May 2019

            	 
	
              for and on behalf of

            	 
	
              Jelco Delta Holding Corp.

            	 
	
              as Lender

            	 

      

      

      We hereby acknowledge receipt of the above Supplemental Letter and confirm our agreement to the terms hereof.

       

      

      	
              /s/ Stavros Gyftakis

            	 
	

            	 
	 	 
	
              Stavros Gyftakis

            	 
	 	 
	
              29 May 2019

            	 
	
              for and on behalf of

            	 
	
              Seanergy Maritime Holdings Corp.

            	 
	
              as Borrower

            	 

       

      

       

      

      
        2

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