Document:

Exhibit 4.13

 

AMENDMENT NO. 3 TO COMMERCIAL MANAGEMENT AGREEMENT

This Amendment No. 3 (this "Amendment") dated as of February 1st, 2018, by and among SEANERGY MANAGEMENT CORP., a company incorporated in Marshall Islands whose registered office is at Trust Company Complex, Ajeltake Island, Majuro, Marshall Islands, MH 96960, for its own behalf and as agent for and on behalf of the Shipowning Affiliates (the "Company"), and FIDELITY MARINE INC., a company incorporated in the Marshall Islands whose registered office is at Trust Company Complex, Ajeltake Island, Majuro Marshall Islands MH 96960 (hereinafter called the "Commercial Manager") to the Commercial Management Agreement dated as of March 2, 2015, by and among the Company and the Commercial Manager as amended by an Amendment No. 1 dated as of September 11th, 2015 and further amended by an Amendment No. 2 dated as of February 24th, 2016 (together referred to as the "Agreement"). Capitalized terms used herein without definition shall have the respective meanings ascribed thereto (or incorporated by reference) in the Agreement, which also contains rules of usage that apply to terms defined therein and herein.

 

RECITAL

WHEREAS, the Company and the Commercial Manager desire to enter into this Amendment No. 3 for the purpose of amending and restating Clause 2 of the Agreement.

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

Amended and Restated Clause 2 of the Agreement

Clause 2 of the Agreement is hereby amended and restated as follows:

"

	
2

	
Appointment of Commercial Manager & Fees

	2.1	
In consideration of the premises and the mutual covenants herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

The Company as principal and as agent for and on behalf of the Shipowning Entities hereby appoints the Commercial Manager as the agent of the Group for the provision of chartering services to the Group, which include seeking and negotiating employment for the Vessels in accordance with the Company's instructions and subject to the Company's prior approval the conclusion (including the execution) of charter parties or other contracts relating to the employment of the Vessels, as described in detail in this Agreement.

	2.2	
For services performed hereunder by the Commercial Manager, the Company shall pay, or procure that the relevant member of the Group pays, to the Commercial Manager as a management fee (the "Fee") comprising of: (i) an annualized fee of Euro one hundred twenty thousand (€120,000) net per year which will be paid in twelve equal monthly payments of Euro 10,000 net each (to be made on or about the last day of every month); and (ii) a commission fee of zero point fifteen percent (0.15%) calculated on the collected gross hire/ freight/ demurrage payable when the relevant hire/ freight/ demurrage are collected, provided that on an annual basis the total Fee under (i) and (ii) will never exceed United States Dollars three hundred thousand (USD300,000) net. The Fee hereunder shall be paid to the Commercial Manager to an account of the Commercial Manager advised in writing to the Company. "

Except as provided hereinabove, all other terms and conditions of the Agreement shall remain unchanged and in full force and effect.

IN WITNESS WHEREOF, the parties hereinabove have caused this Amendment No. 3 to the Agreement to be signed in duplicate by their respective and duly authorized representatives as of the date first written hereinabove.

	
SEANERGY MANAGEMENT CORP.

	 	
FIDELITY MARINE INC.

	 
	 	 	 	 	 	 
	
By:

	
/s/ Stamatios Tsantanis

	 	
By:

	
/s/ Nikolaos Frantzeskakis

	 
	
Name:

	
Stamatios Tsantanis

	 	
Name:

	
Nikolaos Frantzeskakis

	 
	
Title:

	
Director/President

	 	
Title:

	
Sole DirectorExhibit 4.56

 

 

TERMINATION LETTER

	To:	
Seanergy Maritime Holdings Corp.

of Trust Company Complex, Ajeltake Road

Ajeltake Island, Majuro

MH96960, the Marshall Islands

	From:	
Jelco Delta Holding Corp.

of Trust Company Complex, Ajeltake Road

Ajeltake Island, Majuro

MH96960, the Marshall Islands

27 September 2017

Dear Sirs,

Loan Agreement dated 28 March 2017 entered into 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$47,500,000 (the "Loan Agreement")

We refer to the Loan Agreement. This Letter sets out the terms and conditions on which the Borrower and the Lender agree to the termination of the Loan Agreement as of the date hereof.

WHEREAS, the Lender, pursuant to the Loan Agreement, agreed to make available to the Borrower a facility of up to US$47,500,000 (the "Loan") in two advances for the purposes of (i) partly re-financing the existing indebtedness of the Borrower's wholly owned subsidiary, Champion Ocean Navigation Co. ("Champion") under the loan agreement made between Champion, as borrower and NATIXIS, as lender, dated 2 December 2015 (as amended and supplemented by a supplemental agreement and a settlement agreement both dated March 7, 2017) (the "Existing Indebtedness") and (ii) financing part of the contract price of the Partnership (the "Vessel") under the Memorandum of Agreement dated 28 March 2017, as amended thereafter, made between Partner Shipping Co. ("Partner"), as nominated buyers by the Borrower and DA PACIFIC MARITIME S.A., as sellers;

WHEREAS, to the extent that the Borrower was unable to secure part or all of the Loan from third party lenders, the Lender was prepared to make available to the Borrower the Loan in accordance with the terms and conditions of the Loan Agreement;

WHEREAS, Partner has entered into a loan agreement with Amsterdam Trade Bank N.V. ("ATB") dated 24 May 2017 (as amended and supplemented by the Deed of Accession, Amendment and Restatement dated 25 September 2017, the "ATB Loan Agreement"), made between (i) Champion and Partner, as joint and several borrowers, (ii) the Borrower, as corporate guarantor, (iii) the financial institutions listed in Part B of schedule 1 therein, as lenders, (iv) ATB in its capacity as arranger, (v) ATB in its capacity as facility agent and (vi) ATB in its capacity as security agent, in respect of a loan facility of up to US$34,500,000 for the purposes of (a) partly re-financing the Existing Indebtedness and (b) financing part of the contract price of the Vessel;

WHEREAS, the Borrower has entered into a loan agreement with the Lender dated 24 May 2017 (as amended and supplemented by the Supplemental Letter dated 22 June 2017 and the Second Supplemental Letter dated 22 August 2017 and as amended and restated by the Deed of Amendment and Restatement dated 27 September 2017, the "Partnership Loan Agreement"), made between (i) the Borrower, as borrower and (ii) the Lender, as lender, in respect of a loan facility of up to US$16,200,000 for the purpose of financing part of the contract price of the Vessel.

WHEREAS, the Borrower issued to the Lender a convertible promissory note of even date herewith for an amount of $13,750,000 (the "Promissory Note") to partly refinance: (i) part of the Existing Indebtedness secured over the Championship, (ii) a mandatory prepayment of $4,750,000 under the Partnership Loan Agreement, and (iii) general corporate purposes.

WHEREAS, the Borrower and its subsidiaries, through the ATB Loan Agreement, the Partnership Loan Agreement and the Promissory Note, have secured alternative sources of finance sufficient to cover the purposes for which the Loan was made available, such that the Loan is rendered obsolete and no longer subject to drawdown.

NOW THEREFORE IT IS HEREBY MUTUALLY AGREED by the Borrower and the Lender that the Loan Agreement be and is hereby terminated with effect as of the date hereof such that neither party shall have any further obligations to the other thereunder.

Governing law

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

Please confirm your agreement by signing the acknowledgement below.

	 	
Yours faithfully

	 	 	 
	 	
/s/ Alastair Macdonald

	 
	 	
ALASTAIR MACDONALD

for and on behalf of

Jelco Delta Holding Corp.

(in its capacity as Lender)

	 

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

/s/ Stamatios Tsantanis_______

 STAMATIOS TSANTANIS

for and on behalf of

Seanergy Maritime Holdings Corp.

Date: 27 September 2017Exhibit 1075

		
			EXHIBIT 10.75
		

		
			﻿
		

		
			FIRST AMENDMENT TO 
NOTE PURCHASE AND COLLATERAL TRUST AND SECURITY AGREEMENT
		

		
			﻿
		

		
			This FIRST AMENDMENT TO NOTE PURCHASE AND COLLATERAL TRUST AND SECURITY AGREEMENT (this “First Amendment”) is made and entered into as of September 27, 2016, by and among BLUEGREEN CORPORATION, a Florida corporation, BLUEGREEN VACATIONS UNLIMITED, INC., a Florida corporation, BLUEGREEN RESORTS MANAGEMENT, INC., a Delaware corporation, and TFRI 2013-1 LLC, a Delaware limited liability company (together with any successor to any of such parties that becomes a party to the Note Purchase Agreement, as defined below, pursuant to Section 10.2 thereof, each an “Obligor” and, collectively, the “Obligors”), BLUEGREEN NEVADA, LLC, a Delaware limited liability company, as Guarantor (“Bluegreen Nevada” and, collectively with the Obligors, the “Company”), AIG ASSET MANAGEMENT (U.S.) LLC (the “Designated Representative”), U.S. BANK NATIONAL ASSOCIATION, not in its individual capacity but solely as Collateral Agent, Note Registrar, and Paying Agent (in such capacities, the “Agent”), and AMERICAN GENERAL LIFE INSURANCE COMPANY, a Texas corporation, THE UNITED STATES LIFE INSURANCE COMPANY IN THE CITY OF NEW YORK, a New York corporation, THE VARIABLE ANNUITY LIFE INSURANCE COMPANY, a Texas corporation, and AMERICAN HOME ASSURANCE COMPANY, a New York corporation (collectively, the “Holders”).  
		

		
			﻿
		

		
			WHEREAS, the Company, the Designated Representative, the Agent, and the Holders are parties to that certain Note Purchase and Collateral Trust and Security Agreement dated March 26, 2013 (the “Note Purchase Agreement”); and
		

		
			﻿
		

		
			WHEREAS, pursuant to Sections 17.1 and 21.12 of the Note Purchase Agreement, the Company, the Designated Representative, the Agent, and the Holders that are the current holders of all of the Notes issued pursuant to the Note Purchase Agreement desire to amend the Note Purchase Agreement in the manner set forth herein.
		

		
			﻿
		

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

		
			﻿
		

		
			1.        Defined Terms.  Except as otherwise expressly defined herein, all capitalized terms used but not defined herein shall have the meanings ascribed to them by the Note Purchase Agreement.  The defined term “Voluntary Termination Amount” in Schedule A to the Note Purchase Agreement is hereby deleted in its entirety, and all references to any required payment of the “Voluntary Termination Amount” in Sections 8.4, 8.7, 8.10(v), 14.2, and 17.1(a)(z) of the Note Purchase Agreement are hereby deleted.
		

		
			﻿
		

		
			2.        Section 8.6.  Section 8.6 of the Note Purchase Agreement is hereby deleted in its entirety and replaced by the following:
		

		 

 

		
		

		
			Section 8.6.     Note Rate.  The per annum rate of interest payable by the Obligors shall be a fixed rate of interest of 5.50% per annum (the “Note Rate”).
		

		
			﻿
		

		
			3.        Section 8.12(a).  Section 8.12(a) of the Note Purchase Agreement is hereby deleted in its entirety and replaced by the following:
		

		
			﻿
		

		
			(a)  Other than (i) with respect to prepayments of the principal balance of the Notes which arise from payments from Partial Releases of Mortgage; (ii) in accordance with Section 8.11(b); and (iii) prepayments from the Cash Collateral Account pursuant to Section 8.10(a)(viii), the Company may not terminate financing under this Agreement or prepay the Notes, in whole or in part, except as otherwise expressly provided in this Section 8.12.  At any time after March 27, 2019, subject to the terms of this Agreement, the Company may terminate financing under this Agreement and prepay the Notes in whole, but not in part.  Such permitted prepayment in full shall be known as a “Voluntary Termination” and may be effected only by providing the Agent with irrevocable written notice (the “Termination Notice”).  The Termination Notice shall be provided to the Agent at least ten (10) calendar days prior to the specific date upon which the Obligors intend to cease financing hereunder and prepay the Obligations in full, which date shall be known as the “Voluntary Termination Date.” The Voluntary Termination Date shall always be a Payment Date and shall be the first Payment Date occurring ten (10) calendar days after the giving of the Termination Notice.  No premium or penalty shall be payable in connection with a Voluntary Termination in accordance with this Section 8.12.  
		

		
			﻿
		

		
			4.        Section 8.20.  Section 8.20 of the Note Purchase Agreement is hereby deleted in its entirety and replaced by the following:
		

		
			﻿
		

		
			Section 8.20     Rating Option.  The initial rating on the Notes shall be deemed to be B (low) based upon S&P’s “B-” corporate rating of Bluegreen Corporation.  Bluegreen Corporation had the option (the “Rating Option”) to have a Rating Agency provide a rating of the Notes or Bluegreen Corporation on or prior to the Closing Date or within three (3) months following the Closing Date.  If no such rating was obtained within the designated time period, the initial rating would have been considered the final rating.  Any rating on the Notes (or, if the Notes were not rated, the Bluegreen Corporation corporate debt rating) higher than B (low) issued by or within three (3) months of the Closing Date shall be considered the final rating.  Any subsequent ratings actions, including upgrades, downgrades, new ratings or ratings withdrawals, however, shall not affect current or future pricing.  Bluegreen Corporation exercised the Rating Option and delivered an executed “ratings letter” from DBRS to the Designated Representative and Agent setting forth the new rating.  Bluegreen Corporation shall continue to provide such information as is reasonably requested by DBRS in order for DBRS to provide, at Bluegreen Corporation’s expense, ongoing “rating surveillance” to the Designated Representative until the Obligations (other than indemnity obligations under the Collateral Documents that are not then due and payable or for which any events or claims that would give rise thereto are not then pending) have 
		

		 

 

		
		

		
			been fully performed and indefeasibly paid in cash in full.  For the avoidance of doubt, such ongoing rating surveillance shall be in the form of a ratings confirmation letter from DBRS to be delivered annually.
		

		
			﻿
		

		
			5.        Conditions to Effectiveness.  The effectiveness of this First Amendment is subject to the satisfaction of the following conditions precedent in a manner satisfactory to the Designated Representative, in its reasonable discretion, unless specifically waived in writing by the Designated Representative:
		

		
			﻿
		

		
			(a)        This First Amendment shall have been duly executed by the Company, the Agent, the Designated Representative, and the Holders and delivered to the Agent.
		

		
			﻿
		

		
			(b)        The representations and warranties contained in the Note Purchase Agreement, as amended hereby, and the other Collateral Documents shall be true and correct as of the date hereof, as if made on the date hereof.
		

		
			﻿
		

		
			(c)        No Potential Default or Event of Default shall have occurred and be continuing, unless such Potential Default or Event of Default has been expressly waived in writing by the Agent, the Designated Representative, and the Holders (if required by the Note Purchase Agreement).
		

		
			﻿
		

		
			(d)        All corporate and other proceedings, and all documents, instruments, and other legal matters in connection with the execution of this First Amendment shall be satisfactory in form and substance to the Agent, the Designated Representative, and their respective counsel. 
		

		
			﻿
		

		
			(e)        All interest on the Notes accrued but unpaid at the current Note Rate of 8.05% per annum through and including the day immediately preceding the date hereof shall have been paid by the Company and received by the Holders.
		

		
			﻿
		

		
			6.        No Waiver.  Nothing contained in this First Amendment or any other communication between any of the parties hereto shall be deemed to constitute a waiver of any past, present, or future Potential Default or Event of Default by the Company under the Note Purchase Agreement or any other Collateral Document.  The Agent, the Designated Representative, and each Holder hereby expressly reserves any rights, privileges, and remedies under the Note Purchase Agreement and each other Collateral Document that the Agent, the Designated Representative, and the Holders may have with respect to any Potential Default or Event of Default, and any failure by the Agent, the Designated Representative, or any Holder to exercise any right, privilege, or remedy as a result of any such Potential Default or Event of Default shall not directly or indirectly in any way whatsoever either (i) impair, prejudice, or otherwise adversely affect the rights of the Agent, the Designated Representative, or any Holder, except as and to the extent set forth herein, at any time to exercise any right, privilege, or remedy in connection with the Note Purchase Agreement or any other Collateral Document; (ii) amend or alter any provision of the Note Purchase Agreement, as amended hereby, or any other Collateral Document or any other contract or instrument; or (iii) constitute any course of dealing or other basis for altering any obligation of the Company or any right, privilege, or remedy of the Agent, the Designated Representative, and the Holders under the Note Purchase Agreement, as amended hereby, any other Collateral Document, or any other contract or instrument.  Nothing in this First Amendment shall 
		

		 

 

		
		

		
			be construed to constitute a consent by the Agent, the Designated Representative, or any Holder to any prior, existing, or future Potential Default or Event of Default under the Note Purchase Agreement or any other Collateral Document.  The Company is hereby notified that irrespective of (A) any waivers or consents previously granted by the Agent, the Designated Representative, or the Holders regarding the Note Purchase Agreement or any other Collateral Document; (B) any previous failures or delays of the Agent, the Designated Representative, or the Holders in exercising any right, power, or privilege under the Note Purchase Agreement or any other Collateral Document; or (C) any previous failures or delays of the Agent, the Designated Representative, or the Holders in the monitoring or in the requiring of compliance by the Company with its duties, obligations, and agreements under the Note Purchase Agreement and the other Collateral Documents, the Company shall comply strictly with all of its duties, obligations, and agreements under the Note Purchase Agreement, as amended hereby, and the other Collateral Documents.
		

		
			﻿
		

		
			7.        Ratifications, Representations, and Warranties; Holder Consent and Direction.
		

		
			﻿
		

		
			(a)        Ratifications.  The terms and provisions of this First Amendment shall modify and supersede all inconsistent terms and provisions of the Note Purchase Agreement and the other Collateral Documents, and, except as expressly modified and superseded by this First Amendment, the terms and provisions of the Note Purchase Agreement and all of the other Collateral Documents are hereby ratified and confirmed and shall continue in full force and effect.  The Company, the Agent, the Designated Representative, and the Holders agree that the Note Purchase Agreement, as amended hereby, and the other Collateral Documents shall continue to be legal, valid, binding, and enforceable in accordance with their respective terms.
		

		
			﻿
		

		
			(b)        Representations and Warranties.  
		

		
			﻿
		

		
			(i)         The Obligors and Bluegreen Nevada hereby represent and warrant to the Agent, the Designated Representative, and the Holders that (A) the execution, delivery, and performance of this First Amendment and any and all Collateral Documents executed and/or delivered in connection herewith have been authorized by all requisite action on the part of the Obligors and Bluegreen Nevada and will not violate the Governing Documents of the Obligors or Bluegreen Nevada; (B) the representations and warranties of each of the Obligors and Bluegreen Nevada contained in the Note Purchase Agreement, as amended hereby, and any other Collateral Document are true and correct on and as of the date hereof as though made on and as of such date; (C) no Potential Default or Event of Default under the Note Purchase Agreement, as amended hereby, has occurred and is continuing, unless such Potential Default or Event of Default has been expressly waived in writing by the Agent, the Designated Representative, and the Holders (if required by the Note Purchase Agreement); (D) the Obligors and Bluegreen Nevada are in full compliance with all covenants and agreements contained in the Note Purchase Agreement, as amended hereby, and the other Collateral Documents; and (E) except to the extent previously disclosed in writing to the Designated Representative, the Obligors and Bluegreen Nevada have not amended their respective Governing Documents since the date of the Note Purchase Agreement.
		

		
			﻿
		

		
			(ii)        The Company and the Holders hereby represent and warrant that (A) the Holders collectively constitute the holders of all of the Notes issued pursuant to the Note Purchase Agreement and currently outstanding; and (B) the Designated Representative, as Investment Advisor, is legally authorized to execute and deliver this First Amendment on behalf of the Holders, and this First Amendment constitutes the valid, binding, and enforceable obligation of the Holders in accordance with its terms.
		

		
			﻿
		

		
			(c)        Holder Consent and Direction.  By their execution of this First Amendment, each of the Holders hereby (i) consents to the terms and provisions hereof; and (ii) directs Agent, in its capacity as Collateral Agent, Note Registrar, and Paying Agent, to execute and deliver this First Amendment. 
		

		

		

		 

 

		
		

		
			﻿
		

		
			﻿
		

		
			8.        Miscellaneous Provisions.
		

		
			﻿
		

		
			(a)        Survival of Representations and Warranties.  All representations and warranties made in the Note Purchase Agreement or any of the other Collateral Documents, including, without limitation, any document or instrument executed in connection with this First Amendment, shall survive the execution and delivery of this First Amendment and the Collateral Documents, and no investigation by the Agent, the Designated Representative, or the Holders or any closing shall affect the representations and warranties or the right of Agent, the Designated Representative, and the Holders to rely upon them.
		

		
			﻿
		

		
			(b)        Reference to Note Purchase Agreement.  The Note Purchase Agreement, the other Collateral Documents, and any and all documents and instruments now or hereafter executed and delivered pursuant to the terms hereof or the terms of the Note Purchase Agreement, as amended hereby, are hereby amended so that any reference in the Note Purchase Agreement, the other Collateral Documents, and such other documents and instruments executed and delivered pursuant to the Note Purchase Agreement shall mean the Note Purchase Agreement, as amended hereby. 
		

		
			﻿
		

		
			(c)        Expenses of the Agent, the Designated Representative, and the Holders.  The Company agrees to pay on demand all reasonable costs and expenses incurred by the Agent, the Designated Representative, the Holders, and their respective counsel and other agents and representatives in connection with the preparation, negotiation, and execution of this First Amendment and the other documents and instruments executed in connection herewith.
		

		
			﻿
		

		
			(d)        Severability.  Any provision of this First Amendment held by a court of competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of this First Amendment, and the effect thereof shall be confined to the provision so held to be invalid or unenforceable.
		

		
			﻿
		

		
			(e)        Successors and Assigns.  This First Amendment is binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns, except that the Obligors and Bluegreen Nevada may not assign or transfer any of their rights or obligations hereunder without the prior written consent of the Agent and each of the Holders. 
		

		
			﻿
		

		
			(f)        Counterparts.  This First Amendment may be executed in one or more counterparts, each of which when so executed shall be deemed to be an original, but all of which when taken together shall constitute one and the same instrument.
		

		 

 

		
		

		
			(g)        Effect of Waiver.  No consent or waiver, express or implied, by the Agent, the Designated Representative, or any Holder to or for any breach of or deviation from any covenant, condition, or obligation by any Obligor or Bluegreen Nevada shall be deemed a consent to or waiver of any other breach of the same or any other covenant, condition, or obligation.
		

		
			﻿
		

		
			(h)        Headings.  The headings and captions used in this First Amendment are for convenience only and shall not affect the interpretation of this First Amendment.
		

		
			﻿
		

		
			(i)        Applicable Law.  THIS FIRST AMENDMENT AND ALL DOCUMENTS AND INSTRUMENTS EXECUTED IN CONNECTION HEREWITH SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).
		

		
			﻿
		

		
			(j)        Final Agreement. THE NOTE PURCHASE AGREEMENT, AS AMENDED HEREBY, AND THE OTHER COLLATERAL DOCUMENTS, AS AMENDED AND/OR RESTATED, (i) REPRESENT THE ENTIRE EXPRESSION OF THE PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF AS OF THE DATE HEREOF;  AND (ii) MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES HERETO. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES HERETO.  NO MODIFICATION, RESCISSION, WAIVER, RELEASE, OR AMENDMENT OF ANY TERM OR PROVISION OF THIS FIRST AMENDMENT SHALL OCCUR, EXCEPT BY A WRITTEN AGREEMENT SIGNED BY ALL OF THE PARTIES HERETO.
		

		
			﻿
		

		
			(k)        Release.  THE OBLIGORS AND BLUEGREEN NEVADA, TOGETHER WITH EACH OF THEIR RESPECTIVE PARENTS, DIVISIONS, SUBSIDIARIES, AFFILIATES, MEMBERS, MANAGERS, PARTICIPANTS, PREDECESSORS, SUCCESSORS, AND ASSIGNS, AND EACH OF THEIR RESPECTIVE CURRENT AND FORMER DIRECTORS, OFFICERS, SHAREHOLDERS, MEMBERS, MANAGERS, PARTNERS, AGENTS, AND EMPLOYEES, AND EACH OF THEIR RESPECTIVE PREDECESSORS, SUCCESSORS, HEIRS, AND ASSIGNS (INDIVIDUALLY AND COLLECTIVELY, “RELEASORS”) HEREBY VOLUNTARILY AND KNOWINGLY RELEASE AND FOREVER WAIVE AND DISCHARGE THE AGENT, THE DESIGNATED REPRESENTATIVE, EACH HOLDER, AND EACH OF THEIR RESPECTIVE PARENTS, DIVISIONS, SUBSIDIARIES, AFFILIATES, MEMBERS, MANAGERS, PARTICIPANTS, PREDECESSORS, SUCCESSORS, AND ASSIGNS, AND EACH OF THEIR RESPECTIVE CURRENT AND FORMER DIRECTORS, OFFICERS, SHAREHOLDERS, MEMBERS, MANAGERS, PARTNERS, ATTORNEYS, AGENTS, AND EMPLOYEES, AND EACH OF THEIR RESPECTIVE PREDECESSORS, SUCCESSORS, HEIRS, AND ASSIGNS (INDIVIDUALLY AND COLLECTIVELY, THE “RELEASED PARTIES”) FROM ALL POSSIBLE CLAIMS, COUNTERCLAIMS, DEMANDS, ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND LIABILITIES WHATSOEVER, WHETHER KNOWN OR UNKNOWN, ANTICIPATED OR UNANTICIPATED, SUSPECTED OR UNSUSPECTED, FIXED, CONTINGENT, OR CONDITIONAL, OR AT LAW OR IN EQUITY, IN ANY CASE ORIGINATING IN WHOLE OR IN PART ON OR BEFORE THE DATE HEREOF THAT ANY OF THE RELEASORS MAY 
		

		 

 

		
		

		
			NOW OR HEREAFTER HAVE AGAINST THE RELEASED PARTIES (OR ANY OF THEM), IF ANY, IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION OF LAW OR REGULATIONS, OR OTHERWISE, INCLUDING, WITHOUT LIMITATION, ARISING  DIRECTLY OR INDIRECTLY FROM THE NOTE PURCHASE AGREEMENT, ANY OF THE OTHER COLLATERAL DOCUMENTS, THE EXERCISE OF ANY RIGHTS AND REMEDIES UNDER ANY OF THE COLLATERAL DOCUMENTS, AND/OR THE NEGOTIATION FOR AND EXECUTION OF THIS FIRST AMENDMENT AND THE DOCUMENTS AND INSTRUMENTS EXECUTED IN CONNECTION HEREWITH, INCLUDING, WITHOUT LIMITATION, ANY CONTRACTING FOR, CHARGING, TAKING, RESERVING, COLLECTING, OR RECEIVING INTEREST IN EXCESS OF THE HIGHEST LAWFUL RATE APPLICABLE.  NOTWITHSTANDING THE FOREGOING, THE RELEASED PARTIES ARE NOT RELEASED FROM THE PERFORMANCE OF THEIR RESPECTIVE OBLIGATIONS, IF ANY, UNDER THE NOTE PURCHASE AGREEMENT AND THE OTHER COLLATERAL DOCUMENTS FOLLOWING THE DATE HEREOF. 
		

		
			﻿
		

		
			﻿
		

		
			﻿
		

		
			﻿
		

		
			﻿
		

		
			[remainder of page intentionally left blank; signature pages follow]
		

		
			﻿
		

		
			﻿
		

		
			#47783022_v9
		

		
			 
		

		

		

		 

 

		IN WITNESS WHEREOF, this First Amendment has been duly executed and delivered as of the date first above written.
		

		
			﻿
		

			
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						AGENT:

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						U.S. BANK NATIONAL ASSOCIATION,

				
	
					
						﻿

					
					
						not individually, but solely as Collateral Agent, 

				
	
					
						﻿

					
					
						Note Registrar, and Paying Agent

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						By:

					
					
						/s/ Tim Matyi

				
	
					
						﻿

					
					
						Name:

					
					
						Tim Matyi

				
	
					
						﻿

					
					
						Title:

					
					
						Vice President

				

		
			﻿
		

		

		

		 

 

		
		

		
			﻿
		

			
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						DESIGNATED REPRESENTATIVE:

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						AIG ASSET MANAGEMENT (U.S.) LLC

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						By:

					
					
						/s/ Eric Karlson

				
	
					
						﻿

					
					
						Name:

					
					
						Eric Karlson

				
	
					
						﻿

					
					
						Title:

					
					
						Managing Director

				

		
			﻿
		

		

		

		 

 

		
		

		
			﻿
		

			
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						OBLIGORS:

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						BLUEGREEN CORPORATION

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						By:

					
					
						/s/ Paul Humphrey

				
	
					
						﻿

					
					
						Name:

					
					
						Paul Humphrey

				
	
					
						﻿

					
					
						Title:

					
					
						Senior Vice President, Finance and 

				
	
					
						﻿

					
					
						 

					
					
						Capital Markets

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						BLUEGREEN VACATIONS UNLIMITED, INC.

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						By:

					
					
						/s/ Paul Humphrey

				
	
					
						﻿

					
					
						Name:

					
					
						Paul Humphrey

				
	
					
						﻿

					
					
						Title:

					
					
						Vice President

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						BLUEGREEN RESORTS MANAGEMENT, INC.

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						By:

					
					
						/s/ Paul Humphrey

				
	
					
						﻿

					
					
						Name:

					
					
						Paul Humphrey

				
	
					
						﻿

					
					
						Title:

					
					
						Vice President

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						TFRI 2013-1 LLC

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						By:

					
					
						/s/ Paul Humphrey

				
	
					
						﻿

					
					
						Name:

					
					
						Paul Humphrey

				
	
					
						﻿

					
					
						Title:

					
					
						Vice President

				
	
					
						﻿

					
					
						 

					
					
						 

				

		
			﻿
		

		

		

		 

 

		
		

		
			﻿
		

			
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						GUARANTOR:

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						BLUEGREEN NEVADA, LLC

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						By:

					
					
						/s/ Paul Humphrey

				
	
					
						﻿

					
					
						Name:

					
					
						Paul Humphrey

				
	
					
						﻿

					
					
						Title:

					
					
						Vice President

				

		
			﻿
		

		
			﻿
		

		

		

		 

 

		
		

		
			﻿
		

			
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						HOLDERS:

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						AMERICAN GENERAL LILFE INSURANCE COMPANY

				
	
					
						﻿

					
					
						THE UNITED STATES LIFE INSURANCE COMPANY IN THE CITY OF NEW YORK

				
	
					
						﻿

					
					
						THE VARIABLE ANNUITY LIFE INSURANCE COMPANY

				
	
					
						﻿

					
					
						AMERICAN HOME ASSURANCE COMPANY

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						BY:  AIG Asset Management (U.S.) LLC,

				
	
					
						﻿

					
					
						            as Investment Advisor

				
	
					
						﻿

					
					
						 

					
					
						 

				
	
					
						﻿

					
					
						By:

					
					
						/s/ Eric Karlson

				
	
					
						﻿

					
					
						Name:

					
					
						Eric Karlson

				
	
					
						﻿

					
					
						Title:

					
					
						Managing Director

				

		
			﻿
		

		
			﻿
		

		
			﻿

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00280-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00280-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00280-of-00352.parquet"}]]