Document:

Exhibit 10_12

		

			Exhibit 10.12

		

			
					
						 

					
					
						 

				
	
					
						Private & Confidential

					
					
						Execution Version

				

		
			 
		

		
			Dated June 15, 2015
		

		
			DORIAN LPG FINANCE LLC
		

		
			as Borrower
		

		
			THE ENTITIES
		

		
			listed in Schedule 1, Part B
		

		
			as Upstream Guarantors
		

		
			DORIAN LPG LTD.
		

		
			as Facility Guarantor
		

		
			ABN AMRO CAPITAL USA LLC
		

		
			CITIBANK N.A., LONDON BRANCH
		

		
			and
		

		
			THE OTHER BANKS AND FINANCIAL INSTITUTIONS
		

		
			listed in Schedule 1, Part D
		

		
			as Bookrunners
		

		
			THE BANKS AND FINANCIAL INSTITUTIONS
		

		
			listed in Schedule 1, Part E
		

		
			as Mandated Lead Arrangers
		

		
			THE BANKS AND FINANCIAL INSTITUTIONS
		

		
			listed in Schedule 1, Part F
		

		
			as Commercial Lenders
		

		
			THE BANKS AND FINANCIAL INSTITUTIONS
		

		
			listed in Schedule 1, Part G
		

		
			as KEXIM Lenders
		

		
			THE EXPORT-IMPORT BANK OF KOREA
		

		
			as KEXIM
		

		
			THE BANKS AND FINANCIAL INSTITUTIONS
		

		
			listed in Schedule 1, Part I
		

		
			as K-sure Lenders
		

		
			THE BANKS AND FINANCIAL INSTITUTIONS
		

		
			Listed in Schedule 1, Part J
		

		
			as Swap Banks
		

		
			ABN AMRO CAPITAL USA LLC
		

		
			as Global Coordinator, Administrative Agent and Security Agent
		

		
			CITIBANK N.A., LONDON BRANCH
		

		
			or any of its holding companies, subsidiaries or affiliates
		

		
			as ECA coordinator
		

		
			CITIBANK N.A., LONDON BRANCH
		

		
			as ECA Agent
		

		
			AMENDMENT NO. 1 TO FACILITY AGREEMENT
		

		
			for a Loan of up to $758,105,296
		

		
			 
		

		
			 
		

		
			

		 

 

		

			 

		

		

		
			NORTON ROSE FULBRIGHT
		

		
			AMENDMENT NO. 1 TO FACILITY AGREEMENT (this Amendment), dated as of June 15, 2015 and effective as of the Effective Date, relating to the Facility Agreement dated March 23, 2015 (the Original Facility Agreement and as further amended hereby, the Facility Agreement), made among (1) Dorian LPG Finance LLC, as borrower (the Borrower), (2) the entities listed in Schedule 1, Part B therein, as upstream guarantors, (3) Dorian LPG Ltd., as facility guarantor (the Facility Guarantor), (4) ABN AMRO Capital USA LLC (the Security Agent), Citibank N.A., London Branch (Citi) and the other banks and financial institutions listed in Schedule 1, Part D therein, as bookrunners, (5) the banks and financial institutions listed in Schedule 1, Part E therein, as mandated lead arrangers, (6) the banks and financial institutions listed in Schedule 1, Part F therein, as commercial lenders (the Commercial Lenders), (7) the banks and financial institutions listed in Schedule 1, Part G therein, as KEXIM lenders (the KEXIM Lenders), (8) the Export-Import Bank of Korea, as KEXIM (KEXIM), (9) the banks and financial institutions listed in Schedule 1, Part I therein, as K-sure lenders (the K-sure Lenders, and together with the Commercial Lenders, KEXIM and the KEXIM Lenders, the Lenders and each a Lender), (10) the banks and financial institutions listed in Schedule 1, Part J therein, as swap banks, (11) the Security Agent as global coordinator, administrative agent, and security agent, (12) Citi, as ECA coordinator, and (13) Citi, as ECA Agent (as may be amended, supplemented, varied, extended or replaced from time-to-time), pursuant to which the Lenders agreed to make available to the Borrower, upon the terms and conditions therein described, a loan facility in the original amount of up to Seven Hundred Fifty Eight Million One Hundred Five Thousand Two Hundred Ninety Six United States Dollars (USD$758,105,296).
		

		
			WITNESSETH:
		

		
			WHEREAS, pursuant to Clause 19.2 (Financial condition) of the Original Facility Agreement, the Facility Guarantor is required to maintain Consolidated Liquidity at least equal to the Liquidity Reserve Required Balance, with such amounts to be held in an Earnings Account pursuant to Clause 25.1 (Earnings Accounts);
		

		
			WHEREAS, it is the intention of all parties that only that portion of the Liquidity Reserve Required Balance which relates to the Ships delivered under the Facility Agreement shall be required to be held in an Earnings Account and the balance of the funds relating to any other delivered vessel in the Facility Guarantor's fleet may be held in other accounts;
		

		
			NOW, THEREFORE, subject to, and upon the terms and conditions herein set forth, and in consideration of the mutual agreements, provisions, covenants and conditions contained herein, the parties to the Original Facility Agreement hereby agree to amend certain provisions of the Facility Agreement to reflect the parties' understanding of the aforementioned matters as follows:
		

		
			1.     DEFINITIONS
		

		
			1.1     Wherever used in this Amendment, unless the context requires otherwise: (i) terms defined in the recitals hereto shall have the meanings assigned to them in such recitals and (ii) clause 1 (Definitions and Interpretation) of the Original Facility Agreement shall apply herein, mutatis mutandis, as if set out in this Amendment in full.
		

		
			1.2     The Finance Parties and the Obligors designate this Amendment as a Finance Document.
		

		
			2.     AMENDATORY PROVISIONS
		

		
			2.1     From and after the Effective Date (as defined in clause 3.1), all references in the Original Facility Agreement to "this Agreement" (or words or phrases of a similar meaning) shall be deemed to be references to the Original Facility Agreement as amended by this Amendment unless the context otherwise specifically requires.
		

		
			
		

		
			

		 

 

		

			 

		

		

		
			2.2     In clause 1.1 (Definitions) of the Original Facility Agreement, the following definition shall be inserted:
		

		
			Minimum Earnings Account Balance means an amount at least equal to the aggregate of (i) $25,000,000 and (ii) $1,100,000 for each delivered Ship.
		

		
			2.3     In clause 1.1 (Definitions) of the Original Facility Agreement, the last sentence of the definition of "Security Value" shall be deleted and replaced by the following:
		

		
			For the avoidance of doubt, neither the Liquidity Reserve Required Balance nor the Minimum Earnings Account Balance shall be taken into account when calculating Security Value.
		

		
			2.4     Clause 19.2(a) of the Original Facility Agreement shall be deleted and replaced in its entirety by the following:
		

		
			Minimum Liquidity: At all times it maintains Consolidated Liquidity at least equal to the Liquidity Reserve Required Balance, of which the Minimum Earnings Account Balance shall be held in an Earnings Account pursuant to Clause 25.1 (Earnings Account).
		

		
			2.5     Clause 25.1(c) (Earnings Account) of the Original Facility Agreement shall be amended to replace "Liquidity Reserve Required Balance" with "Minimum Earnings Account Balance".
		

		
			2.6     Clause 25.1(d) (Earnings Account) of the Original Facility Agreement shall be amended to replace "Liquidity Reserve Required Balance" with "Minimum Earnings Account Balance".
		

		
			2.7     Clause 25.1(e)(iii) (Earnings Account) of the Original Facility Agreement shall be amended to replace "Liquidity Reserve Required Balance" with "Minimum Earnings Account Balance".
		

		
			2.8     The following sub-clause (iv) shall be added in Clause 25.1(e):
		

		
			(iv) The Facility Guarantor maintains at all times Consolidated Liquidity in aggregate at least equal to the Liquidity Reserve Required Balance.".
		

		
			2.9     The word "and" at the end of Clause 25.1(e)(ii) shall be deleted and shall be added at the end of Clause 25.1(e)(iii).
		

		
			2.10   The period at the end of Clause 25.1(e)(iii) shall be replaced with a semi-colon.
		

		
			2.11   In Schedule 3 (Conditions Precedent), Part 2 (Conditions precedent to each Utilization Date) Item 7 (Establishment of Accounts) of the Original Facility Agreement shall be amended to replace both references to "Liquidity Reserve Required Balance" with "Minimum Earnings Account Balance". In addition, the following sentence shall be added to the end thereof:
		

		
			In addition, the aggregate amount standing to the credit of the Facility Guarantor's accounts (including the Earnings Account) on a consolidated basis is at least equal to the Liquidity Reserve Required Balance.
		

		
			2.12   In Schedule 9 (Compliance Certificate), Item 2(a) shall be deleted in its entirety and replaced by the following:
		

		
			
		

		
			

		 

 

		

			 

		

		

		
			pursuant to the requirements more particularly described in Clause 19.2(a) (Minimum Liquidity): (i) the Consolidated Liquidity is equal to $[•], which is at least equal to the Liquidity Reserve Required Balance, (ii) the Liquidity Reserve Required Balance is $[•] and (iii) the Minimum Earnings Account Balance is $[•] and is being maintained in an Earnings Account.
		

		
			3.     CONDITIONS PRECEDENT TO THE EFFECTIVENESS OF THIS AMENDMENT
		

		
			3.1     This Amendment shall not be effective unless and until the date the Administrative Agent, or its duly authorized representative, shall have received the fully executed Amendment and the other evidence set forth in this clause 3, in form and substance satisfactory to the Agent and at such time, this Amendment shall be deemed effective as of March 23, 2015 (the "Effective Date").
		

		
			3.2     No Default: No Default shall have occurred and be continuing under the Facility Documents or will occur by virtue of entering into this Amendment or the transactions contemplated hereby.
		

		
			3.3     No Material Adverse Change: In the determination of the Required Lenders, no Material Adverse Change shall have occurred.
		

		
			4.     NO FURTHER CHANGES
		

		
			4.1     Except as provided herein, all the remaining provisions of the Original Facility Agreement shall remain unchanged, valid and binding on all the parties thereto.
		

		
			5.     REPRESENTATIONS AND WARRANTIES
		

		
			5.1     The representations and warranties made in Clause 17 (Representations) of the Original Facility Agreement shall be deemed repeated as of the date hereof.
		

		
			6.     EXISTING SECURITY
		

		
			Each Obligor confirms that the Security Documents to which it is a party:
		

		
			6.1     shall continue to secure all liabilities which are expressed to be secured by them; and
		

		
			6.2     shall continue in full force and effect in all respects.
		

		
			7.     FURTHER ASSURANCE
		

		
			7.1     Each Obligor shall, at the request of the Administrative Agent and at its own expense, do all such acts and things necessary or advisable to give effect to the amendments made or to be made pursuant to this Amendment.
		

		
			8.     GOVERNING LAW
		

		
			8.1     The laws of the State of New York shall govern all matters arising out of, in connection with or relating to this Amendment, including, without limitation, its validity, interpretation, construction, performance and enforcement.
		

		
			9.     SUBMISSION TO JURISDICTION; WAIVERS
		

		
			9.1     Any legal action or proceeding with respect to this Amendment shall be brought exclusively in the courts of the State of New York located in the City of New York, 
		

		
			
		

		
			

		 

 

		

			 

		

		

		
			Borough of Manhattan, or of the United States of America for the Southern District of New York and, by execution and delivery of this Amendment, each of the Obligors executing this Amendment hereby accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts; provided that nothing in this Amendment shall limit the right of the Finance Parties to commence any proceeding in the federal or state courts of any other jurisdiction to the extent a Finance Party determines that such action is necessary or appropriate to exercise its rights or remedies under this Amendment. The parties hereto hereby irrevocably waive any objection, including any objection to the laying of venue or based on the grounds of forum non conveniens, that any of them may now or hereafter have to the bringing of any such action or proceeding in such jurisdictions.
		

		
			 
		

		
			 
		

		
			

		 

 

		

			 

		

		

		
			IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute and deliver this Amendment as of the date first above written.
		

		
			DORIAN LPG FINANCE LLC
		

		
			As Borrower
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			COMET LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			CORVETTE LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN SHANGHAI LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			
		

		
			

		 

		

			Signature Page to Amendment No. 1 to Facility Agreement

		

 

		

			 

		

		

		
			DORIAN HOUSTON LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN SAO PAULO LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			CONCORDE LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			CONSTELLATION LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN ULSAN LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			
		

		
			

		 

		

			Signature Page to Amendment No. 1 to Facility Agreement

		

 

		

			 

		

		

		
			DORIAN AMSTERDAM LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN MONACO LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN BARCELONA LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN TOKYO LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN DUBAI LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			
		

		
			

		 

		

			Signature Page to Amendment No. 1 to Facility Agreement

		

 

		

			 

		

		

		
			DORIAN GENEVA LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN CAPE TOWN LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			COMMANDER LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN EXPLORER LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN EXPORTER LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			
		

		
			

		 

		

			Signature Page to Amendment No. 1 to Facility Agreement

		

 

		

			 

		

		

		
			DORIAN LPG LTD.
		

		
			As Facility Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						Chief Financial Officer

				

		
			 
		

		
			ABN AMRO CAPITAL USA LLC
		

		
			As Bookrunner, Mandated Lead Arranger, Global Coordinator, Administrative Agent, Security Agent and Original Lender
		

			
					
						By:

					
					
						/s/ Francis Birkeland

					
					
						    

					
					
						By:

					
					
						/s/ Urvashi Zutshi

				
	
					
						Name:

					
					
						Francis Birkeland

					
					
						 

					
					
						Name:

					
					
						Urvashi Zutshi

				
	
					
						Title:

					
					
						Managing Director

					
					
						 

					
					
						Title:

					
					
						Managing Director

				

		
			 
		

		
			ABN AMRO BANK N.V.
		

		
			As Swap Bank
		

			
					
						By:

					
					
						/s/ K.H.Tieleman

					
					
						    

					
					
						By:

					
					
						/s/ A.C.A.J. Biesbroeck

				
	
					
						Name:

					
					
						K.H.Tieleman

					
					
						 

					
					
						Name:

					
					
						A.C.A.J. Biesbroeck

				
	
					
						Title:

					
					
						 

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			CITIBANK N.A., LONDON BRANCH
		

		
			As Bookrunner, Mandated Lead Arranger, ECA Coordinator, ECA Agent and Original Lender
		

			
					
						By:

					
					
						/s/ Kara Catt

					
					
						    

					
					
						By:

					
					
						 

				
	
					
						Name:

					
					
						Kara Catt

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						Title:

					
					
						Vice President

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

		

			Signature Page to Amendment No. 1 to Facility Agreement

		

 

		

			 

		

		

		
			CITIGROUP GLOBAL MARKETS INC.
		

		
			As Swap Bank
		

			
					
						By:

					
					
						/s/ Michael A.J. Parker

					
					
						    

					
					
						By:

					
					
						 

				
	
					
						Name:

					
					
						Michael A.J. Parker

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						Title:

					
					
						Managing Director

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			THE EXPORT-IMPORT BANK OF KOREA
		

		
			As Mandated Lead Arranger, Swap Bank and Original Lender
		

			
					
						By:

					
					
						/s/ Seo Hye Lim

					
					
						    

					
					
						By:

					
					
						 

				
	
					
						Name:

					
					
						Seo Hye Lim

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						Title:

					
					
						Senior Loan Officer

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			ING CAPITAL MARKETS LLC
		

		
			As Swap Bank
		

			
					
						By:

					
					
						/s/ Gary E. Kalbaugh

					
					
						    

					
					
						By:

					
					
						 

				
	
					
						Name:

					
					
						Gary E. Kalbaugh

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						Title:

					
					
						Director

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			ING BANK N.V., LONDON BRANCH
		

		
			As Bookrunner, Mandated Lead Arranger and Original Lender
		

			
					
						By:

					
					
						/s/ David Grant

					
					
						    

					
					
						By:

					
					
						/s/ Olga Terentieva

				
	
					
						Name:

					
					
						David Grant

					
					
						 

					
					
						Name:

					
					
						Olga Terentieva

				
	
					
						Title:

					
					
						MD

					
					
						 

					
					
						Title:

					
					
						VP

				

		
			 
		

		
			
		

		
			

		 

		

			Signature Page to Amendment No. 1 to Facility Agreement

		

 

		

			 

		

		

		
			DVB BANK SE
		

		
			As Bookrunner, Mandated Lead Arranger, Swap Bank and Original Lender
		

			
					
						By:

					
					
						/s/ Ole Chr. Sande

					
					
						    

					
					
						By:

					
					
						/s/ Jegg Vander Koffs

				
	
					
						Name:

					
					
						Ole Chr. Sande

					
					
						 

					
					
						Name:

					
					
						Jegg Vander Koffs

				
	
					
						Title:

					
					
						AVP

					
					
						 

					
					
						Title:

					
					
						VP

				

		
			 
		

		
			COMMONWEALTH BANK OF AUSTRALIA, NEW YORK BRANCH
		

		
			As Swap Bank and Original Lender
		

			
					
						By:

					
					
						/s/ James Miller

					
					
						    

					
					
						By:

					
					
						 

				
	
					
						Name:

					
					
						James Miller

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						Title:

					
					
						Head of Americas Origination Structured Asset Finance

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			DEUTSCHE BANK AG, HONG KONG BRANCH
		

		
			As Mandated Lead Arranger and Original Lender
		

			
					
						By:

					
					
						/s/ Edward Hui

					
					
						    

					
					
						By:

					
					
						/s/ Ken-KS Cheng

				
	
					
						Name:

					
					
						Edward Hui

					
					
						 

					
					
						Name:

					
					
						Ken-KS Cheng

				
	
					
						Title:

					
					
						Vice President Structured Trade & Export Finance Hong Kong 

					
					
						 

					
					
						Title:

					
					
						Associate Structured Trade & Export Finance Hong Kong

				

		
			 
		

		
			DZ BANK AG
		

		
			DEUTSCHE ZENTRAL-GENOSSENSCHAFTSBANK FRANKFURT AM MAIN
		

		
			As Original Lender
		

			
					
						By:

					
					
						/s/ Manfred Fischer

					
					
						    

					
					
						By:

					
					
						/s/ Steffen Philipp

				
	
					
						Name:

					
					
						Manfred Fischer

					
					
						 

					
					
						Name:

					
					
						Steffen Philipp

				
	
					
						Title:

					
					
						Managing Director

					
					
						 

					
					
						Title:

					
					
						Associate Director

				

		
			 
		

		
			
		

		
			

		 

		

			Signature Page to Amendment No. 1 to Facility Agreement

		

 

		

			 

		

		

		
			SANTANDER BANK, N.A.
		

		
			As Original Lender
		

			
					
						By:

					
					
						/s/ Jean-Baptiste Piette

					
					
						    

					
					
						By:

					
					
						 

				
	
					
						Name:

					
					
						Jean-Baptiste Piette

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						Title:

					
					
						Executive Director

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			BANCO SANTANDER, S.A.
		

		
			As Mandated Lead Arranger
		

			
					
						By:

					
					
						/s/ Remedios Cantalapiedra

					
					
						    

					
					
						By:

					
					
						/s/ Francisco Verdugo Munoz

				
	
					
						Name:

					
					
						Remedios Cantalapiedra

					
					
						 

					
					
						Name:

					
					
						Francisco Verdugo Munoz

				
	
					
						Title:

					
					
						Associate

					
					
						 

					
					
						Title:

					
					
						Managing Director

				

		
			 
		

		 

		

			Signature Page to Amendment No. 1 to Facility AgreementExhibit 10_13

		

			Exhibit 10.13

		

		

			 

		

		

			 

		

		

			

		

		

			

		

		

			 

		

		

			 

		

		

			 

		

		

			Dorian LPG Finance LLC

		

		

			c/o Dorian LPG (USA) LLC

		

		

			27 Signal Road

		

		

			Stamford, CT 06902 USA

		

		

			 

		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			From:   Dorian LPG Finance LLC
		

		
			Trust Company Complex
		

		
			Ajeltake Road, Ajeltake Island
		

		
			Majuro, Marshall Islands
		

		
			MH96960
		

		
			 
		

		
			c/o Dorian LPG (USA) LLC
		

		
			27 Signal Road
		

		
			Stamford, CT 06902
		

		
			 
		

		
			 
		

		
			 
		

		
			To:       The parties listed in Schedule 1
		

		
			 
		

		
			February 1, 2016
		

		
			 
		

		
			 
		

		
			 
		

		
			Dear Sirs/Madams:
		

		
			 
		

		
			Re: Side Letter to the Facility Agreement, dated March 23, 2015 as amended by Amendment No. 1, dated June 15, 2015 (together, the "Facility Agreement")
		

		
			 
		

		
			 
		

		
			1.    We refer to the Facility Agreement. Defined expressions in the Facility Agreement shall have the same meaning when used herein unless the context otherwise requires.
		

		
			 
		

		
			2.    We hereby confirm and acknowledge the following:
		

		
			 
		

			
	
			
				 (a)
			

			
	
			
			Clause 3.1 (Purpose) of the Facility Agreement provides that each Advance shall be made available in the lesser of (a) 55% of the Delivered Price of each Ship (other than with respect to Ship 1 and Ship 2 which shall be 55% of the Age Adjusted Delivered Price of each Ship), plus an amount equal to the K-sure Premium and KEXIM Premium for such Ship, and (b) 55% of the Fair Market Value of such Ship, tested at the time of delivery of such Ship, plus an amount equal to the K-sure Premium and KEXIM Premium for such Ship, for an aggregate maximum principal amount of $758,105,296 for all Advances;

		
			 
		

		
			

		 

 

		

			
	
			
				 (b)
			

			
	
			
			Clause 1.1 (Definitions) of the Facility Agreement defines the Delivered Price of each Ship as such Ship's Contract Price, Extras and Contingent Extras, up to a maximum for such Ship as specified in Schedule 2 (Ship information) to the Facility Agreement, and provides that the aggregate of Contingent Extras shall not exceed $2,336,364;

		
			 
		

			
	
			
				 (c)
			

			
	
			
			he Delivered Price for Ship 6 was $77,123,470, which was $236,530 less than anticipated (the "Excess Amount"); and

		
			 
		

			
	
			
				 (d)
			

			
	
			
			the aggregate amount of Contingent Extras for all Ships will exceed $2,336,364.

		
			 
		

		
			3.    In consideration of the above, we have requested and the other Parties have agreed that the Excess Amount ($130,091) of which being the undrawn Commitment with respect to Ship 6), shall be re-allocated to finance an increase in Contingent Extras.
		

		
			 
		

		
			4.    The Parties have agreed to the following consequential amendment to the Facility Agreement:
		

		
			 
		

		
			in the definition of Contingent Extras in Clause 1.1 (Definitions), "$2,336,364" shall be deleted and replaced with "$2,572,894".
		

		
			 
		

		
			5.    We hereby confirm our agreement to the above amendment which will be effective, as of the date first mentioned above, once each of the Parties has confirmed its acknowledgment and agreement to the provisions of this letter by counter-signing this letter.
		

		
			 
		

		
			6.    The Facility Agreement shall be hereby amended (and deemed amended) in accordance with this letter.
		

		
			 
		

		
			7.    This letter is a Finance Document.
		

		
			 
		

		
			8.    Save as amended by this letter, the provisions of the Facility Agreement shall continue in full force and effect and the Facility Agreement and this letter shall be read and construed together as one instrument.
		

		
			 
		

		
			9.    From and after the date first above written, all references in the Facility Agreement to "this Agreement" (or words or phrases of a similar meaning) shall be deemed to be references to the Facility Agreement as amended by this letter unless the context otherwise specifically requires.
		

		
			 
		

		
			10.   This letter and any non-contractual obligations in connection with it are governed by, and shall be construed in accordance with, New York law.
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			[Signature Pages Follow]
		

		
			 
		

		
			

		 

 

Yours faithfully
		

		
			 
		

		
			 
		

		
			DORIAN LPG FINANCE LLC
		

		
			 
		

		
			As Borrower
		

		
			 
		

		
			 
		

		
			 
		

			
					
						By:

					
					
						/s/ Theodore B. Young

					
					
						 

				
	
					
						Name:

					
					
						Theodore B. Young

					
					
						 

				
	
					
						Title:

					
					
						President

					
					
						 

				

		
			 
		

		
			 
		

		
			Acknowledged and agreed to by:
		

		
			Dorian LPG Ltd.
		

		
			As Facility Guarantor
		

			
					
						Hief Financial Office

					
					
						 

				
	
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						Chief Financial Officer

				

		
			 
		

		
			COMET LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			CORVETTE LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN SHANGHAI LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			
		

		
			

		 

 

		

		
			DORIAN HOUSTON LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN SAO PAULO LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			CONCORDE LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			CONSTELLATION LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN ULSAN LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			
		

		
			

		 

 

		

		
			DORIAN AMSTERDAM LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN MONACO LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN BARCELONA LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN TOKYO LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN DUBAI LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			
		

		
			

		 

 

		

		
			DORIAN GENEVA LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN CAPE TOWN LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			COMMANDER LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN EXPLORER LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			DORIAN EXPORTER LPG TRANSPORT LLC
		

		
			As Upstream Guarantor
		

			
					
						By:

					
					
						/s/ Theodore B. Young

				
	
					
						Name:

					
					
						Theodore Young

				
	
					
						Title:

					
					
						President

				

		
			 
		

		
			
		

		
			

		 

 

		

		
			ABN AMRO CAPITAL USA LLC
		

		
			As Bookrunner, Mandated Lead Arranger, Global Coordinator, Administrative Agent, Security Agent and Original Lender
		

			
					
						By:

					
					
						/s/ Francis Birkeland

					
					
						    

					
					
						By:

					
					
						/s/ Urvashi Zutshi

				
	
					
						Name:

					
					
						Francis Birkeland

					
					
						 

					
					
						Name:

					
					
						Urvashi Zutshi

				
	
					
						Title:

					
					
						Managing Director

					
					
						 

					
					
						Title:

					
					
						Managing Director

				

		
			 
		

		
			ABN AMRO BANK N.V.
		

		
			As Swap Bank
		

			
					
						.N

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ M.N. Hoogeveen

					
					
						    

					
					
						By:

					
					
						/s/ Nienke Blans

				
	
					
						Name:

					
					
						M.N. Hoogeveen

					
					
						 

					
					
						Name:

					
					
						Nienke Blans

				
	
					
						Title:

					
					
						 

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			CITIBANK N.A., LONDON BRANCH
		

		
			As Bookrunner, Mandated Lead Arranger, ECA Coordinator, ECA Agent and Original Lender
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ F.A. Wilhelmsen

					
					
						    

					
					
						By:

					
					
						 

				
	
					
						Name:

					
					
						F.A. Wilhelmsen

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						Title:

					
					
						Vice President

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			CITIGROUP GLOBAL MARKETS INC.
		

		
			As Swap Bank
		

			
					
						Alentino Gallo

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Valentino Gallo

					
					
						    

					
					
						By:

					
					
						 

				
	
					
						Name:

					
					
						Valentino Gallo

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						Title:

					
					
						Managing Director

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			THE EXPORT-IMPORT BANK OF KOREA
		

		
			As Mandated Lead Arranger, Swap Bank and Original Lender
		

			
					
						won

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Kwon Hyuk-Joon

					
					
						    

					
					
						By:

					
					
						 

				
	
					
						Name:

					
					
						Kwon Hyuk-Joon

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						Title:

					
					
						Director

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			
		

		
			

		 

 

		

		
			ING CAPITAL MARKETS LLC
		

		
			As Swap Bank
		

			
					
						o

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Moses Lin

					
					
						    

					
					
						By:

					
					
						 

				
	
					
						Name:

					
					
						Moses Lin

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						Title:

					
					
						Director

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			ING BANK N.V., LONDON BRANCH
		

		
			As Bookrunner, Mandated Lead Arranger and Original Lender
		

			
					
						ory

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Rory Hussey

					
					
						    

					
					
						By:

					
					
						/s/ Robartus Krol

				
	
					
						Name:

					
					
						David Grant

					
					
						 

					
					
						Name:

					
					
						Robartus Krol

				
	
					
						Title:

					
					
						Managing Director

					
					
						 

					
					
						Title:

					
					
						Director

				

		
			 
		

		
			DVB BANK SE
		

		
			As Bookrunner, Mandated Lead Arranger, Swap Bank and Original Lender
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Elsa Savvatianou

					
					
						    

					
					
						By:

					
					
						/s/ Georg Junginger

				
	
					
						Name:

					
					
						Elsa Savvatianou

					
					
						 

					
					
						Name:

					
					
						Georg Junginger

				
	
					
						Title:

					
					
						Vide President

					
					
						 

					
					
						Title:

					
					
						Vive President

				

		
			 
		

		
			COMMONWEALTH BANK OF AUSTRALIA, NEW YORK BRANCH
		

		
			As Swap Bank and Original Lender
		

			
					
						rik

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Erik Doebler

					
					
						    

					
					
						By:

					
					
						 

				
	
					
						Name:

					
					
						Erik Doebler

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						Title:

					
					
						Associate Director

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			DEUTSCHE BANK AG, HONG KONG BRANCH
		

		
			As Mandated Lead Arranger and Original Lender
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Edward Hui

					
					
						    

					
					
						By:

					
					
						/s/ Ken Cheng

				
	
					
						Name:

					
					
						Edward Hui

					
					
						 

					
					
						Name:

					
					
						Ken Cheng

				
	
					
						Title:

					
					
						Vice President 

					
					
						 

					
					
						Title:

					
					
						Associate 

				

		
			 
		

		
			
		

		
			

		 

 

		

		
			DZ BANK AG
		

		
			DEUTSCHE ZENTRAL-GENOSSENSCHAFTSBANK FRANKFURT AM MAIN
		

		
			As Original Lender
		

			
					
						By:

					
					
						/s/ Manfred Fischer

					
					
						    

					
					
						By:

					
					
						/s/ Steffen Philipp

				
	
					
						Name:

					
					
						Manfred Fischer

					
					
						 

					
					
						Name:

					
					
						Steffen Philipp

				
	
					
						Title:

					
					
						Managing Director

					
					
						 

					
					
						Title:

					
					
						Associate Director

				

		
			 
		

		
			SANTANDER BANK, N.A.
		

		
			As Original Lender
		

			
					
						By:

					
					
						/s/ Jean-Baptiste Piette

					
					
						    

					
					
						By:

					
					
						 

				
	
					
						Name:

					
					
						Jean-Baptiste Piette

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						Title:

					
					
						Executive Director

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		
			BANCO SANTANDER, S.A.
		

		
			As Mandated Lead Arranger
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Antonio Sala

					
					
						    

					
					
						By:

					
					
						/s/ Jose Luis Vicent 

				
	
					
						Name:

					
					
						Antonio Sala

					
					
						 

					
					
						Name:

					
					
						Jose Luis Vicent

				
	
					
						Title:

					
					
						Executive Director

					
					
						 

					
					
						Title:

					
					
						Executive Director

				

		
			 
		

		
			 
		

		
			

		 

 

		

		
			Schedule 1
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						ABN AMRO Capital USA LLC 

					
						17th Floor, 100 Park Ave 

					
						10017, New York, USA

					
					
						 

					
					
						DVB Bank SE 

					
						3 Moraitini Street & Palea Leof. Posidonos 

					
						Delta Paleo Faliro 

					
						175 61 Athens, Greece

					
						 

					
						 

					
					
						 

				
	
					
						ABN AMRO Bank N.V. 

					
						Gustav Mahlerlaan 10 

					
						1082 PP Amsterdam, 

					
						The Netherlands

					
					
						 

					
					
						Commonwealth Bank of Australia, New York Branch 

					
						Level 17, 599 Lexington Avenue 

					
						New York, NY 10022, USA

					
						 

					
						 

					
					
						 

				
	
					
						Citibank N.A., London Branch 

					
						Loans Operations Depaiiment 

					
						7/9 Traugutta str., 1st Floor 

					
						00-985 Warsaw, Poland

					
						 

					
						 

					
					
						 

					
					
						Deutsche Bank AG, Hong Kong Branch Level 52, International Commerce Centre 

					
						1 Austin Road West, Kowloon, Hong Kong

					
					
						 

				
	
					
						Citigroup Global Markets Inc. 

					
						390 Greenwich Street 

					
						10013, New York, USA

					
					
						 

					
					
						DZ BANK AG Deutsche Zentral­Genossenschaftsbank, Frankfurt am Main Platz der Republik 

					
						60265 Frankfu1i am Main, Germany

					
						 

					
						 

					
					
						 

				
	
					
						The Export-Import Bank of Korea BIFC 20th floor, Munhyeongeumyung-ro 40 Nam-gu, 

					
						608-828, Busan, Republic of Korea

					
						 

					
						 

					
					
						 

					
					
						Santander Bank, N.A. 

					
						4 5 East 5 3rd Street. 

					
						10005 New York, USA

					
					
						 

				
	
					
						ING Capital Markets LLC 

					
						1325 Avenue of the Americas 

					
						10019, New York, USA

					
						 

					
						 

					
					
						 

					
					
						Banco Santander, S.A. 

					
						Ciudad Grupo Santander 

					
						Edif. Encinar - planta 2 

					
						28660 Boadilla del Monte (Madrid) Spain

					
					
						 

				
	
					
						ING Bank N.V., London Branch 

					
						60 London Wall 

					
						London, UK EC2M 5TQ, UK

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