Document:

Supplemental Letter, dated September 16, 2011

 Exhibit 4.35 
  

 
  

			
	From:	  	Piraeus Bank A.E. (the “Bank”)
		
	To:	  	BOONE STAR OWNERS INC. of Marshall Islands
		  	IOKASTI OWNING COMPANY LIMITED of Marshall Islands (each the “Borrower” and together the “Borrowers’)

 Subject: Loan Agreement, as amended and supplemented in force, for an amount up to US$
90,000,000 between Piraeus Bank A.E. and the Borrowers signed on
5th October, 2007 (the “Loan Agreement”).

 Dear Sirs, 
 Further to
the recent discussions during which the Borrowers have jointly requested the amendment of the Loan Agreement for the purposes of facilitating earlier prepayment of the same, we are pleased to inform you that the Bank proposes to amend the Loan
Agreement as set out under sections A to D below. 
 A. The Loan Agreement shall be amended as follows: 

a) Clause 7.4 shall be fully deleted and replaced by the following new clause 7.4: 

“The Borrowers or each of them may prepay the whole or any part of the Loan (any such part being a minimum of $500,000 or any larger
sum which is an integral multiple of $500,000) at any time.” 
 b) Clause 7.5 shall be fully deleted and replaced by the following new
clause 7.5: 
 “No prepayment may be effected under clause 7.4 unless the Borrowers shall have given the Bank one
(1) day’s notice of their intention to make such prepayment. Every notice shall be effective only on actual receipt by the Bank, shall be irrevocable, shall specify the amount of the Loan to be prepaid, shall specify which deposit account
of the Borrower(s) is to be debited with the prepayment amount, and shall oblige the Borrowers to make such prepayment on the date specified.” 
 B. Upon execution hereof by the Lender and the Borrowers, the Loan Agreement shall be deemed formally amended by virtue of the provisions of Section A above. 

C. Moreover the Bank shall release and lift all shipmortgages and all other security established and existing over the assets of the respective Borrower
by virtue of the Security Documents within three (3) Piraeus business days in the event of a Greek flag and seven (7) Piraeus business days in the event of a Maltese flag from receipt of the above prepayment notice from the Borrower,
provided only that the quoted prepayment amounts, to be drawn by the Bank in accordance with the instructions of the Borrowers (or any of them), are sufficient for the full and final payment and discharge of all due and owing payment obligations of
the Borrowers or either of them under or pursuant to the Loan Agreement and the Master Agreement (if any). 
 It is agreed that the Bank may
exceptionally require, and the Borrowers shall consent, to create a pledge over the respective bank accounts of the Borrowers or either of them, to which the prepayment amounts are credited or are to be credited as identified in the respective
prepayment Notice, or whatever other security on the funds reserved for the prepayment under the Loan Agreement and the Master Agreement (if applicable). 
 D. This Letter shall be governed by, and construed in accordance with, English law and all disputes in connection with this Letter, if any, shall exclusively be resolved before the Courts of London, U.K.

 In order to confirm your agreement to the above, we kindly request you to initial all pages of all originals of this letter and to sign,
indicating also the date of signature, all five (5) originals. 
 DA IOKASTI BOONE AMENDMENT LETTER 

PIRAEUS BANK GROUP HEADQUARTERS 
 4, AMERIKIS
ST., GR-105 64 ATHENS, GREECE, TEL.: +30 210 333 5000, www.piraeusbank.gr 
  

 

 
 EXECUTED and DELIVERED as a DEED on this 16th day of September 2011 by Piraeus Bank SA 

 

									
	acting by	  	Maria Young	 	)	  	/s/ Maria Young
		  	Jason Dallas	 		  	/s/ Jason Dallas
				
	such execution being witnessed by	  	/s/ YANNIS CHARALAMBIDES	 	)	  	
		  		  	YANNIS CHARALAMBIDES	 		  	
		  		  	ATTORNEY - AT - LAW	 		  	
		  		  	15, PINDAROU STR.	 		  	
		  		  	106 73 ATHENS - GREECE	 		  	
		  		  	TEL.: 210 3807771 - FAX: 210 3607885	 		  	
	
	Accepted and agreed
	for and on behalf of BORROWER 1
	EXECUTED and DELIVERED as a DEED on this 16th day of September 2011
				
	acting by	  	PAPAPONTIKOU EUGENIA	 	)	  	

	  
 such execution being witnessed by
	  	  
 /s/ EUGENIA TH. VOULIKA
	 	  
 )
	  
		  		  	EUGENIA TH. VOULIKA	 		  
		  		  	Attorney - at - law	 		  
		  		  	52, Ag. Konstantinou Street - 151 24 Marousi	 		  
		  		  	Athens, Greece	 		  
		  		  	Tel.: +30 210 6140580 - Fax: +30 210 6140267	 		  
	  
 Accepted and agreed
	  
	for and on behalf of BORROWER 2
	EXECUTED and DELIVERED as a DEED on this 16th day of September 2011
				
	acting by	  	PAPONTIKOU EUGENIA	 	)	  	

	  
 such execution being witnessed by
	  	  
 /s/ EUGENIA TH. VOULIKA
	 	  
 )
	  
		  		  	EUGENIA TH. VOULIKA	 		  
		  		  	Attorney - at - law	 		  
		  		  	52, Ag. Konstantinou Street - 151 24 Marousi	 		  
		  		  	Athens, Greece	 		  
		  		  	Tel.: +30 210 6140580 - Fax: +30 210 6140267	 		  
	  
 Read and Acknowledged
	  	
	for and on behalf of DRYSHIPS INC. in its capacity as CORPORATE GUARANTOR	  	
	EXECUTED and DELIVERED as a DEED on this 16th day of September 2011	  	
				
	by	  	PAPAPONTIKOU EUGENIA	 	)	  	 

	  
 such execution being witnessed by
	  	  
 /s/ EUGENIA TH. VOULIKA
	 	  
 )
	  
		  		  	EUGENIA TH. VOULIKA	 		  
		  		  	Attorney - at - law	 		  
		  		  	52, Ag. Konstantinou Street - 151 24 Marousi	 		  
		  		  	Athens, Greece	 		  
		  		  	Tel.: +30 210 6140580 - Fax: +30 210 6140267	 		  
	  
 Read and Acknowledged
	  
	for and on behalf of IALYSOS OWNING COMPANY LIMITED of Marshall Islands in its capacity as CORPORATE GUARANTOR
	EXECUTED and DELIVERED as a DEED on this 16th day of September 2011
		  		  		 	)	  	 

		  		  		 	)	  
		  		  		 	)	  
	  
 such execution being witnessed by
	  	  
 /s/ EUGENIA TH. VOULIKA
	 	  
 )
	  
		  		  	EUGENIA TH. VOULIKA	 		  
		  		  	Attorney - at - law	 		  
		  		  	52, Ag. Konstantinou Street - 151 24 Marousi	 		  
		  		  	Athens, Greece	 		  
		  		  	Tel.: +30 210 6140580 - Fax: +30 210 6140267	 		  

 PB MARINER NAUTICA AMENDMENT LETTER 

  
 2Supplemental Letter, dated June 29, 2011

 Exhibit 4.41 
  

					
	From:	  	EFG Eurobank Ergasias SA (the “Lender”)
		
		  	and Eurobank EFG Private Bank Luxembourg SA (the “Account Bank”)
			
		  	To:	  	IASON OWNING COMPANY LIMITED (the “Borrower”)
		  		  	Trust Company Complex
		  		  	Ajeltake Road
		  		  	Ajeltake Island
		  		  	Majuro
		  		  	Marshall Islands
		  		  	MH96960

 29th June 2011 

Dear Sirs 
 US$47,000,000 loan to the Borrower

  

	1.	We refer to a loan agreement dated 16 November 2007 as amended and supplemented by a first supplemental agreement dated 15 April 2010 and as further amended
and supplemented by a second supplemental agreement dated 27 January 2011 (as the same may be further amended and/or supplemented from time to time, the “Loan Agreement”) and made between the Borrower and the Lender in respect
of a loan facility of up to US$47,000,000 (the “Loan”). 

  

	2.	Words and expressions defined in the Loan Agreement will have the same meaning when used in this letter. 

 

	3.	For the purposes of this Letter: 

“Deposit Account” means an account opened or to be opened and maintained by the Borrower with the Account Bank; and

 “Deposit” means such amounts as are standing to the credit of the Deposit Account from time to time.

  

	4.	Pursuant to discussions between us, we have agreed at the request of the Borrower that: 

 

	(a)	at any time the Borrower may issue a notice to prepay the whole or any part of the Loan; 

 

	(b)	on the date specified in such notice as the date on which the Loan or, as the case may be, the specified part thereof is to be prepaid, the Deposit or, as the case may
be, the relevant part thereof, shall be applied by the Account Bank or the Lender as applicable or shall be deemed to have been applied by the Lender or the Account Bank towards satisfaction of the Borrower’s obligations under the Loan
Agreement and the Loan Agreement shall be satisfied to (he same extent; if as a result of such notice there are no amounts outstanding under the Loan Agreement and the Master Agreement (if any), the mortgages on any relevant ship shall be released
forwith; 

  
 A 

	(c)	the notice period required pursuant to the voluntary prepayment provisions of the Loan Agreement shall be reduced to 1 day only if the Deposit (or the relevant part
thereof) is to be used in making the relevant prepayment of the Loan or any part thereof. 

  

	5.	Until the Deposit is applied or deemed applied towards satisfaction of the Borrowers obligation under the Loan Agreement, as provided in this Deed, no restriction
whatsoever is to apply to the Deposit, which Deposit shall be deemed excess cash and the Borrower shall retain unrestricted liberty in disposing thereof. 

  

	6.	Further, upon execution hereof by the Lender, the Account Bank and the Borrower, this Letter shall constitute a formal deed of amendment to the Loan Agreement.

  

	7.	the prepayment provisions of the Loan Agreement shall (as modified and amended pursuant to paragraph 4 of this Letter) apply to any such prepayment.

 The notice provisions of the Loan Agreement shall apply (mutatis mutandis) to this Letter and shall apply to any written
instructions received from the Borrower as outlined in the preceding paragraphs. 
 Please confirm your agreement to the terms of this Letter by
signing for acceptance. 
 This Letter shall be governed by, and construed in accordance with, English law. This Letter shall be deemed to be
executed and delivered as a Deed under English law notwithstanding that any party has executed under hand. 
 Yours faithfully 

 

					
	 EXECUTED and DELIVERED as a DEED by
 EFG EUROBANK ERGASIAS SA,
 acting by ILLEGIBLE

such execution being witnessed by
	  	 )
 )

)
 )
	  	 /s/ Illegible            /s/ Illegible

	  	  
	  	  
	  	  
			
	EXECUTED and DELIVERED as a DEED by	  	)	  	
	EUROBANK EFG PRIVATE BANK LUXEMBOURG SA	  	)	  	
	acting by THEODOROS SIMEONIDIS	  	)	  	/s/ Theodoros Simeonidis
	Athina Daskagianni	  	)	  	/s/ Athina Daskagianni
	such execution being witnessed by	  	)	  	

  
 2 

 Agreed and accepted this 29 day of June 2011 by execution as follows: 

 

					
	EXECUTED and DELIVERED as a DEED by	  	)	  	
	IASON OWNING COMPANY LIMITED	  	)	  	
	acting by Eugenia Papapontikou	  	)	  	/s/ Eugenia Papapontikou
	such execution being witnessed by	  	)	  	

  

					
		  	/s/ EUGENIA TH. VOULIKA	  	
		  	EUGENIA TH. VOULIKA	  	
		  	Attorney - at - law	  	
		  	52, Ag. Konstantinou Street - 151 24 Marousi	  	
		  	Athens, Greece	  	
		  	Tel.: +30 2106140580 - Fax: +30 2106140267	  	

  
 3

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