Common use of AND WAIVER TO CREDIT AGREEMENT Clause in Contracts

AND WAIVER TO CREDIT AGREEMENT. This AMENDMENT NO. 1 AND WAIVER TO CREDIT AGREEMENT (this “Amendment”) dated as of March 27, 2009, is by and among (i) ALBEMARLE MARITIME CORP., ARDEN MARITIME CORP., AVON MARITIME CORP., BIRNHAM MARITIME CORP., BRISTOL MARITIME CORP., XXXXXXX SHIPPING CORP., CUMBERLAND NAVIGATION CORP., XXXXX NAVIGATION CORP., DOVER MARITIME CORP., XXXXX SHIPPING CORP., EXETER SHIPPING CORP., FRANKFORT MARITIME CORP., GLENWOOD MARITIME CORP., XXXXXX SHIPPING CORP., XXXXXXX NAVIGATION CORP., XXXXXX MARITIME CORP., XXXXXX MARITIME CORP., XXXXXX MARITIME CORP., MONTROSE MARITIME CORP., OLDCASTLE SHIPPING CORP., XXXXXXX NAVIGATION CORP., XXXXXX SHIPPING CORP., REMSEN NAVIGATION CORP., SHEFFIELD MARITIME CORP., XXXXXXX MARITIME CORP., STERLING SHIPPING CORP., STRATFORD SHIPPING CORP., VEDADO MARITIME CORP., XXXXXX MARITIME CORP. and WINDSOR MARITIME CORP., each a corporation organized under the laws of the Republic of the Xxxxxxxx Islands (collectively, the “Borrowers” and, each individually, a “Borrower”), (ii) TBS INTERNATIONAL LIMITED, a corporation formed under the laws of Bermuda (“Holdings”), (iii) TBS SHIPPING SERVICES INC., a New York corporation, as administrative borrower (the “Administrative Borrower”), (iv) each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), and (v) BANK OF AMERICA, N.A., as administrative agent (in such capacity, the “Administrative Agent”), Swing Line Lender and L/C Issuer.

AND WAIVER TO CREDIT AGREEMENT. This AMENDMENT NO. 1 3 AND WAIVER TO CREDIT AGREEMENT (this “Amendment”) dated as of March 2731, 20092010 and effective as of the Waiver Extension Effective Date (as defined below) or, with respect to Section 1 and Section 5 of this Amendment, on the Amendment No. 3 Effective Date (as defined below), as applicable, is by and among (i) ALBEMARLE MARITIME CORP., ARDEN MARITIME CORP., AVON MARITIME CORP., BIRNHAM BIRNAM MARITIME CORP., BRISTOL MARITIME CORP., XXXXXXX SHIPPING CORP., CUMBERLAND NAVIGATION CORP., XXXXX NAVIGATION CORP., DOVER MARITIME CORP., XXXXX SHIPPING CORP., EXETER SHIPPING CORP., FRANKFORT MARITIME CORP., GLENWOOD MARITIME CORP., XXXXXX SHIPPING CORP., XXXXXXX NAVIGATION CORP., XXXXXX MARITIME CORP., XXXXXX MARITIME CORP., XXXXXX MARITIME CORP., MONTROSE MARITIME CORP., OLDCASTLE SHIPPING CORP., XXXXXXX NAVIGATION CORP., XXXXXX SHIPPING CORP., REMSEN NAVIGATION CORP., SHEFFIELD MARITIME CORP., XXXXXXX MARITIME CORP., STERLING SHIPPING CORP., STRATFORD SHIPPING CORP., VEDADO MARITIME CORP., XXXXXX MARITIME CORP. and WINDSOR MARITIME CORP., each a corporation organized under the laws of the Republic of the Xxxxxxxx Islands (collectively, together with any Borrowers joined on or after the date hereof, the “Borrowers” and, each individually, a “Borrower”), (ii) TBS INTERNATIONAL PLC, a corporation formed under the laws of Ireland (“Irish Holdings”), (iii) TBS INTERNATIONAL LIMITED, a corporation formed under the laws of Bermuda (“Bermuda Holdings”, and together with Irish Holdings, “Holdings”), (iiiiv) TBS HOLDINGS LIMITED, a corporation formed under the laws of Bermuda (“TBH”), (v) TBS SHIPPING SERVICES INC., a New York corporation, as administrative borrower (the “Administrative Borrower”), (ivvi) each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), and (vvii) BANK OF AMERICA, N.A., as administrative agent (in such capacity, the “Administrative Agent”), Swing Line Lender and L/C Issuer.

AND WAIVER TO CREDIT AGREEMENT. This AMENDMENT NO. 1 2 AND WAIVER TO CREDIT AGREEMENT (this “Amendment”) dated as of March 27December 31, 20092009 and effective as of January 1, 2010, is by and among (i) ALBEMARLE MARITIME CORP., ARDEN MARITIME CORP., AVON MARITIME CORP., BIRNHAM BIRNAM MARITIME CORP., BRISTOL MARITIME CORP., XXXXXXX SHIPPING CORP., CUMBERLAND NAVIGATION CORP., XXXXX NAVIGATION CORP., DOVER MARITIME CORP., XXXXX SHIPPING CORP., EXETER SHIPPING CORP., FRANKFORT MARITIME CORP., GLENWOOD MARITIME CORP., XXXXXX SHIPPING CORP., XXXXXXX NAVIGATION CORP., XXXXXX MARITIME CORP., XXXXXX MARITIME CORP., XXXXXX MARITIME CORP., MONTROSE MARITIME CORP., OLDCASTLE SHIPPING CORP., XXXXXXX NAVIGATION CORP., XXXXXX SHIPPING CORP., REMSEN NAVIGATION CORP., SHEFFIELD MARITIME CORP., XXXXXXX MARITIME CORP., STERLING SHIPPING CORP., STRATFORD SHIPPING CORP., VEDADO MARITIME CORP., XXXXXX MARITIME CORP. and WINDSOR MARITIME CORP., each a corporation organized under the laws of the Republic of the Xxxxxxxx Islands (collectively, together with any Borrowers joined on or after the date hereof, the “Borrowers” and, each individually, a “Borrower”), (ii) TBS INTERNATIONAL LIMITED, a corporation formed under the laws of Bermuda (“Holdings”), (iii) TBS SHIPPING SERVICES INC., a New York corporation, as administrative borrower (the “Administrative Borrower”), (iv) each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), and (v) BANK OF AMERICA, N.A., as administrative agent (in such capacity, the “Administrative Agent”), Swing Line Lender and L/C Issuer.