Common use of Loss of earnings Clause in Contracts

Loss of earnings. By a Deed of Covenant dated [—] 2011, OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960 (the “Owner”), has assigned to DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany (the “Mortgagee”), its rights, title and interest in and to all policies and contracts of insurance from time to time taken out or entered into by or for the benefit of the Owner in respect of m.v. Daytona and accordingly all claims hereunder shall be paid in full to the account of the Owner held with [—] of [—] with account number [—] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon in either case all such claims shall be paid to the Mortgagee or its order. Schedule 2 Form of Notice of Assignment of Insurances (For attachment by way of endorsement to the Policy) OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960, the owner of the m.v. Daytona, HEREBY GIVES NOTICE that by a Deed of Covenant dated [—] 2011 and entered into by us with DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, there has been assigned by us to DVB BANK SE as first mortgagee of the said vessel, all insurances in respect thereof, including the insurances constituted by the Policy whereon this notice is endorsed. Signed For and on behalf of OLYMPIAN HERA OWNERS INC. Dated: [—] Schedule 3 Power of Attorney By these presents, the undersigned OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960, does hereby nominate and appoint DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, as our Special Attorney and authorise it to apply for the closure of the Maltese Register of the m.v. Daytona in terms of Section 28 of the Merchant Shipping Act, Cap. 234, in our name and on our behalf and to pay all such fees, make all such declarations and receive all such certificates, including the Deletion Certificate, as may be necessary for the proper fulfilment of the above mandate. We further authorise our Attorney to request and obtain from the Registrar of Shipping copies certified by the said Registrar of any documents that may be filed with the said Registrar. Our Attorney is authorised to delegate all its power hereunder in writing. This mandate is granted in the interest of and as part of the security of DVB BANK SE, and is irrevocable. This the [—] day of [—] for and on behalf of OLYMPIAN HERA OWNERS INC. In the presence of: Schedule 4 Letter of Acceptance to act as process agent I Xx. Xxxxxx Xxxxx of Valletta, Malta agree to act as process agent for OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960 (the “Owner”) in connection with any proceedings in Malta pursuant to a Deed of Covenant dated [—] 2011 (the “Deed of Covenant”) and entered into between the Owner and yourselves, DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting for the purpose of the Deed of Covenant through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany as security agent and trustee for and on behalf of the other Secured Creditors (as defined in the Deed of Covenant) subject to the conditions that:

Loss of earnings. By a Deed of Covenant Assignment dated [—] 2011PETRA SHIPPING LTD of 00 Xxxxx Xxxxxx, OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, MajuroXxxxxxxx, Xxxxxxxx Islands MH96960 of Liberia (the “Owner”), ) has assigned to DVB BANK SEBAYERISCHE HYPO -UND VEREINSBANK AKTIENGESELLSCHAFT of 0 Xxxxxxxxxx Xxxxxx, a banking corporation incorporated and established under the laws of the Federal Republic of Germany000 00 Xxxxxx, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany Xxxxxx (the “Mortgagee”), ) its rights, title and interest in and to all policies and contracts of insurance from time to time taken out or entered into by or for the benefit of the Owner in respect of m.v. Daytona Pedhoulas Trader and her earnings and accordingly all claims hereunder shall be paid in full to the account of the Owner held with Operating Account designated [—] of [—] with account number [—•] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon in either case all such claims shall be paid to the Mortgagee or its order. Schedule 2 Form of Notice of Assignment of Insurances (For attachment by way of endorsement to the Policy) OLYMPIAN HERA OWNERS INC.PETRA SHIPPING LTD of 00 Xxxxx Xxxxxx, a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, MajuroXxxxxxxx, Xxxxxxxx Islands MH96960, of Liberia the owner of the m.v. Daytona, Pedhoulas Trader HEREBY GIVES NOTICE that by a Deed of Covenant Assignment dated [—] 2011 and entered into by us with DVB BANK SEBAYERISCHE HYPO -UND VEREINSBANK AKTIENGESELLSCHAFT of 0 Xxxxxxxxxx Xxxxxx, a banking corporation incorporated and established under the laws of the Federal Republic of Germany000 00 Xxxxxx, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, Xxxxxx there has been assigned by us to DVB BANK SE BAYERISCHE HYPO -UND VEREINSBANK AKTIENGESELLSCHAFT as first mortgagee mortgagees of the said vessel, vessel all insurances in respect thereof, including the insurances constituted by the Policy whereon this notice is endorsed. Signed For and on behalf of OLYMPIAN HERA OWNERS INC. PETRA SHIPPING LTD Dated: [—] Schedule 3 Power of Attorney By these presents, the undersigned OLYMPIAN HERA OWNERS INC., EXECUTED as a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960, does hereby nominate and appoint DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, as our Special Attorney and authorise it to apply for the closure of the Maltese Register of the m.v. Daytona in terms of Section 28 of the Merchant Shipping Act, Cap. 234, in our name and on our behalf and to pay all such fees, make all such declarations and receive all such certificates, including the Deletion Certificate, as may be necessary for the proper fulfilment of the above mandate. We further authorise our Attorney to request and obtain from the Registrar of Shipping copies certified DEED ) by the said Registrar of any documents that may be filed with the said Registrar. Our Attorney is authorised to delegate all its power hereunder in writing. This mandate is granted in the interest of and as part of the security of DVB BANK SE, and is irrevocable. This the [—] day of [—] ) for and on behalf of OLYMPIAN HERA OWNERS INC. In ) PETRA SHIPPING LTD ) Attorney-in-Fact in the presence of: Schedule 4 Letter of Acceptance to act ) Witness Name: Address: Occupation: EXECUTED as process agent I Xx. Xxxxxx Xxxxx of Valletta, Malta agree to act as process agent for OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960 (the “Owner”DEED ) in connection with any proceedings in Malta pursuant to a Deed of Covenant dated [—] 2011 (the “Deed of Covenant”by ) and entered into between the Owner and yourselves, DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting for the purpose of the Deed of Covenant through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany as security agent and trustee by ) Authorised signatory for and on behalf of ) BAYERISCHE HYPO- UND VEREINSBANK ) AKTIENGESELLSCHAFT ) in the other Secured Creditors presence of: ) Authorised signatory Witness Name: Address: Occupation: Schedule 6 Form of Manager’s Undertaking Private & Confidential Manager’s Undertaking To: Bayerische Hypo- und Vereinsbank Aktiengesellschaft 0 Xxxxxxxxxx Xxxxxx 000 00 Xxxxxx Xxxxxx From: Safety Management Overseas S.A. Edificio Torre Universal Piso 12 Xxxxxxx Xxxxxxxx Xxxx P.O. Box 8807 Panama City Republic of Panama Dated: Dear Sirs Multicurrency loan of up to $36,000,000 to Petra Shipping Ltd 1 Loan Agreement We understand that under a Loan Agreement (as the “Loan Agreement”) dated made between (1) yourselves Bayerische Hypo- und Vereinsbank Aktiengesellschaft (the “Bank” which expression includes the Bank’s successors in title, Assignees and/or Transferees and (2) Petra Shipping Ltd (the “Borrower”) the Bank has agreed to make a multicurrency loan of up to $36,000,000 (the “Loan”) to the Borrower and that it is a condition to the Bank’s agreement to make the Loan to the Borrower that we, Safety Management Overseas S.A. (the “Manager”), enter into this letter of undertaking (the “Letter”) in favour of the Bank. Words and expressions defined in the Deed of Covenant) subject to Loan Agreement shall, unless otherwise specified herein, have the conditions that:same meanings when used herein.

Loss of earnings. By a Deed of Covenant General Assignment dated [—.] 2011March 2010 [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA SHIPPING S.A.] of [the Hellenic Republic, OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex00 Xxxxxxxxxxxxx Xxxxxx, Ajeltake RoadXxxxxxx, Ajeltake IslandGreece] [the Republic of Liberia, Majurowhose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx Islands MH96960 of Liberia] (the “"Owner”), ") has assigned to DVB PIRAEUS BANK SEA.E. of 00-00 Xxxx Xxxxxxx, a banking corporation incorporated and established under the laws of the Federal Republic of Germany000 00 Xxxxxxx, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany Xxxxxx (the “"Mortgagee”), ") all its rights, title and interest in and to all policies and contracts of insurance from time to time taken out or entered into by or for the benefit of the Owner in respect of m.v. Daytona [Aegean Ace] [Aegean Champion] [Aegean Star] and her earnings and accordingly all claims hereunder shall be paid in full to the interest bearing United States Dollar account of opened by the Owner held with [—] of [—] the Mortgagee and with account number [—.] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon in either case all such claims shall be paid to the Mortgagee or its order. Schedule 2 Form of Notice of Assignment of Insurances (For attachment by way of endorsement to the Policy) OLYMPIAN HERA OWNERS INC.[AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA SHIPPING S.A.] of [the Hellenic Republic, a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex00 Xxxxxxxxxxxxx Xxxxxx, Ajeltake RoadXxxxxxx, Ajeltake IslandGreece] [the Republic of Liberia, Majurowhose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx Islands MH96960of Liberia], the owner Owner of the m.v. Daytona, [Aegean Ace] [Aegean Champion] [Aegean Star] HEREBY GIVES NOTICE that by a Deed of Covenant General Assignment dated [—•] 2011 March 2010 and entered into by us with DVB PIRAEUS BANK SEA.E. of 00-00 Xxxx Xxxxxxx, a banking corporation incorporated and established under the laws of the Federal Republic of Germany000 00 Xxxxxxx, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of GermanyXxxxxx, there has been assigned by us to DVB PIRAEUS BANK SE A.E. as first mortgagee of the said vessel, vessel all insurances in respect thereof, including the insurances constituted by the Policy whereon this notice is endorsed. Signed Signed: For and on behalf of OLYMPIAN HERA OWNERS INC. [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA SHIPPING S.A.] Dated: [—●] Schedule 3 Power of Attorney By these presents, the undersigned OLYMPIAN HERA OWNERS INC., EXECUTED as a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960, does hereby nominate and appoint DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, as our Special Attorney and authorise it to apply for the closure of the Maltese Register of the m.v. Daytona in terms of Section 28 of the Merchant Shipping Act, Cap. 234, in our name and on our behalf and to pay all such fees, make all such declarations and receive all such certificates, including the Deletion Certificate, as may be necessary for the proper fulfilment of the above mandate. We further authorise our Attorney to request and obtain from the Registrar of Shipping copies certified DEED ) by the said Registrar of any documents that may be filed with the said Registrar. Our Attorney is authorised to delegate all its power hereunder in writing. This mandate is granted in the interest of and as part of the security of DVB BANK SE, and is irrevocable. This the [—] day of [—] ) for and on behalf of OLYMPIAN HERA OWNERS INC. In ) [AEGEAN ACE MARITIME COMPANY] ) Attorney-in-Fact [AMP MARITIME S.A.] ) [SILVER SEA SHIPPING S.A.] ) in the presence of: Schedule 4 Letter of Acceptance to act as process agent I Xx. Xxxxxx Xxxxx of Valletta, Malta agree to act as process agent for OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960 (the “Owner”) in connection with any proceedings in Malta pursuant to a Deed of Covenant dated [—] 2011 (the “Deed of Covenant”) and entered into between the Owner and yourselves, DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting for the purpose of the Deed of Covenant through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany as security agent and trustee for and on behalf of the other Secured Creditors (as defined in the Deed of Covenant) subject to the conditions that:)

Loss of earnings. By a Deed General Assignment dated {date} [here insert name of Covenant dated Owner] of [—here insert address of Owner] 2011, OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960 (the “Owner”), ) has assigned to DVB BANK SE, a banking corporation incorporated [here insert name of Mortgagee] of [here insert address of Mortgagee] (Mortgagee) (as security agent and established under the laws trustee for and on behalf of the Federal Republic of Germany, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany (the “Mortgagee”), Finance Parties) its rights, title and interest in and to all policies and contracts of insurance from time to time taken out or entered into by or for the benefit of the Owner in respect of m.v. Daytona "[here insert name of Ship]" and her earnings and accordingly all claims hereunder shall be paid in full to the account of the Owner held with [—] here insert details of [—] with account number [—Operating Account] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon in either case all such claims shall be paid to the Mortgagee or its order. Schedule 2 Form of Notice of Assignment of Insurances (For attachment by way of endorsement to the Policy) OLYMPIAN HERA OWNERS INC., a corporation incorporated under [here insert name of Owner] of [here insert address of Owner] the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960, the owner Owner of the m.v. Daytona, "[here insert name of Ship]" HEREBY GIVES NOTICE that by a Deed of Covenant Assignment dated [—] 2011 {date} and entered into by us with DVB BANK SE, a banking corporation incorporated [here insert name of Mortgagee] of [here insert address of Mortgagee] (as security agent and established under the laws trustee for and on behalf of the Federal Republic of Germany, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of GermanyFinance Parties), there has been assigned by us to DVB BANK SE [here insert name of Mortgagee] (as first mortgagee security agent and trustee for and on behalf of the Finance Parties) as mortgagees of the said vessel, vessel all insurances in respect thereof, including the insurances constituted by the Policy whereon this notice is endorsed. Signed For and on behalf of OLYMPIAN HERA OWNERS INC. Dated[here insert name of Owner] SIGNED, SEALED and DELIVERED ) as a DEED ) by [IRISES SHIPPING LTD.][NEREUS NAVIGATION LTD.] ) acting by its duly authorised ) officers: ) ......................................................... Authorised Officer ......................................................... Authorised Officer [—] Schedule 3 Power of Attorney By these presentsOR:] SIGNED, the undersigned OLYMPIAN HERA OWNERS INC., SEALED and DELIVERED ) as a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960, does hereby nominate and appoint DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, as our Special Attorney and authorise it to apply for the closure of the Maltese Register of the m.v. Daytona in terms of Section 28 of the Merchant Shipping Act, Cap. 234, in our name and on our behalf and to pay all such fees, make all such declarations and receive all such certificates, including the Deletion Certificate, as may be necessary for the proper fulfilment of the above mandate. We further authorise our Attorney to request and obtain from the Registrar of Shipping copies certified DEED ) by the said Registrar of any documents that may be filed with the said Registrar. Our Attorney is authorised to delegate all its power hereunder in writing. This mandate is granted in the interest of and as part of the security of DVB BANK SE, and is irrevocable. This the [—] day of [—] ) for and on behalf of OLYMPIAN HERA OWNERS INC. In ) [IRISES SHIPPING LTD.][NEREUS NAVIGATION LTD.] ) pursuant to a power of attorney ) ......................................................... dated {date} ) Attorney-in-Fact in the presence of: Schedule 4 Letter of Acceptance to act ) ......................................................... Witness Name: Address: Occupation: SIGNED, SEALED and DELIVERED ) as process agent I Xx. Xxxxxx Xxxxx of Valletta, Malta agree to act as process agent for OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960 (the “Owner”DEED ) in connection with any proceedings in Malta pursuant to a Deed of Covenant dated [—] 2011 (the “Deed of Covenant”by ) and entered into between the Owner and yourselves, DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting for the purpose of the Deed of Covenant through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany as security agent and trustee for and on behalf of the other Secured Creditors China Development Bank Corporation ) (as defined facility agent, security agent and trustee ) pursuant to a power of attorney ) ......................................................... dated {date} ) Attorney-in-Fact in the presence of: ) ......................................................... Witness Name: Address: Occupation: Schedule 15 Form of Subordination Deed -110- Private & Confidential AGREED FORM CONTRACT NO: 6410201301100000164 (for IRISES SHIPPING LTD.) CONTRACT NO: 6410201201100000165 (for NEREUS NAVIGATION LTD.) Dated 2013 [PARAGON SHIPPING INC.] [BOX SHIPS INC.] as SUBORDINATED CREDITOR CHINA DEVELOPMENT BANK CORPORATION as SENIOR CREDITOR and [IRISES SHIPPING LTD.] [NEREUS NAVIGATION LTD.] as DEBTOR Agreed form of Covenant) subject to the conditions thatDEED OF SUBORDINATION NXXXXX XXXX THIS DEED OF SUBORDINATION is dated …………………… 2013, and made BETWEEN:

Loss of earnings. By a Deed of Covenant Assignment dated [—·] 2011, OLYMPIAN HERA OWNERS INC2013 [Q A MARITIME LTD., a corporation incorporated under the laws ] [Q IOANARI SHIPPING LTD] [Q JAKE SHIPPING LTD.] [Q XXXX SHIPPING LTD.] of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Xxxxxxxx Islands MH96960 Xxxxxxx XX00000 (the “Owner”), ) has assigned to DVB ABN AMRO BANK SEN.V. of Xxxxxxxxxx 00, a banking corporation incorporated and established under the laws of the Federal Republic of Germany0000 XX Rotterdam, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany The Netherlands (the “Mortgagee”), ) (subject to the prior first assignment dated [7 September 2011] [29 September 2011] [10 June 2011] [19 June 2012] to ABN AMRO Bank N.V. and subject to the prior second assignment dated 23 October 2012 to ABN AMRO Bank N.V.) all its rights, title and interest in and to all policies and contracts of insurance from time to time taken out or entered into by or for the benefit of the Owner in respect of m.v. Daytona [Q Arion] [Q Ioanari] [Q Jake] [Q Xxxx] and her earnings and accordingly all claims hereunder shall be paid (subject to the prior rights of ABN AMRO Bank N.V. as first mortgagee and as second mortgagee) in full to the account of the Owner held with [—] of [—] with account number [—] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon in either case all such claims shall be paid to the Mortgagee or its order. Schedule 2 Form of Notice of Assignment of Insurances (For attachment by way [Q A MARITIME LTD.] [Q IOANARI SHIPPING LTD] [Q JAKE SHIPPING LTD.] [Q XXXX SHIPPING LTD.] of endorsement to the Policy) OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Xxxxxxxx Islands MH96960Xxxxxxx XX00000 (the “Owner”), the owner Owner of the m.v. Daytonamotor vessel [Q Arion] [Q loanari] [Q Jake] [Q Xxxx], HEREBY GIVES NOTICE that by a Deed of Covenant Assignment dated [—·] 2011 2013 and entered into by us with DVB ABN AMRO BANK SEN.V. of Xxxxxxxxxx 00, a banking corporation incorporated and established under the laws of the Federal Republic of Germany0000 XX Xxxxxxxxx, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, Xxx Xxxxxxxxxxx there has been assigned by us (subject to DVB the prior first assignment dated [7 September 2011] [29 September 2011] [10 June 2011] [19 June 2012] to ABN AMRO Bank N.V. and subject to the prior second assignment dated 23 October 2012 to ABN AMRO Bank N.V.) to ABN AMRO BANK SE N.V. as first mortgagee third mortgagees of the said vessel, vessel all insurances in respect thereof, including the insurances constituted by the Policy whereon this notice is endorsed. Signed For and on behalf of OLYMPIAN HERA OWNERS INC. Dated[Q A MARITIME LTD.] [Q IOANARI SHIPPING LTD] [Q JAKE SHIPPING LTD.] [Q XXXX SHIPPING LTD.] Date: [—·] Schedule 3 Power of Attorney By these presents, the undersigned OLYMPIAN HERA OWNERS INC., EXECUTED as a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960, does hereby nominate and appoint DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, as our Special Attorney and authorise it to apply for the closure of the Maltese Register of the m.v. Daytona in terms of Section 28 of the Merchant Shipping Act, Cap. 234, in our name and on our behalf and to pay all such fees, make all such declarations and receive all such certificates, including the Deletion Certificate, as may be necessary for the proper fulfilment of the above mandate. We further authorise our Attorney to request and obtain from the Registrar of Shipping copies certified DEED ) by the said Registrar of any documents that may be filed with the said Registrar. Our Attorney is authorised to delegate all its power hereunder in writing. This mandate is granted in the interest of and as part of the security of DVB BANK SE, and is irrevocable. This the [—] day of [—] ) for and on behalf of OLYMPIAN HERA OWNERS INC. In ) [Q A MARITIME LTD.] [Q IOANARI SHIPPING LTD] [Q JAKE SHIPPING LTD.] [Q XXXX SHIPPING LTD.] ) ) ) Attorney-in-fact in the presence of: Schedule 4 Letter of Acceptance to act ) Witness Name: Address: Occupation: EXECUTED as process agent I Xx. Xxxxxx Xxxxx of Valletta, Malta agree to act as process agent for OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960 (the “Owner”DEED ) in connection with any proceedings in Malta pursuant to a Deed of Covenant dated [—] 2011 (the “Deed of Covenant”by ) and entered into between the Owner and yourselves, DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting for the purpose of the Deed of Covenant through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany as security agent and trustee for and on behalf of ) ABN AMRO BANK N.V. ) Attorney-in-fact in the other Secured Creditors presence of: ) Witness Name: Address: Occupation: Schedule 12 Form of Manager’s Undertaking Part A Collateral Ships 106 Private & Confidential Manager’s Undertaking To: ABN AMRO Bank N.V. Xxxxxxxxxx 00 0000 XX Rotterdam The Nederlands (as defined in security agent and trustee) From: Xxxxxxxx Ship Management Ltd. Trust Company Complex Ajeltake Road Ajeltake Island Majuro Republic of the Deed Xxxxxxxx Xxxxxxx XX00000 August 2013 Dear Sirs Loan of Covenant) subject up to the conditions that:US$31,040,000 to Q Xxxxxx Shipping Ltd., Q Anastasia Shipping Ltd., Q Houston Shipping Ltd. and Q Kaki Shipping Ltd.

Loss of earnings. By a Deed General Assignment dated 2005 MARATHASSA SHIPPING CORPORATION of Covenant dated [—] 201100 Xxxxx Xxxxxx, OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, MajuroXxxxxxxx, Xxxxxxxx Islands MH96960 of Liberia (the “Owner”), ) has assigned to DVB THE ROYAL BANK SEOF SCOTLAND plc of The Shipping Business Centre, a banking corporation incorporated and established under the laws of the Federal Republic of Germany0-00 Xxxxx Xxxxx Xxxxxx, acting through its office at Xxxxx xxx Xxxxxxxx 0Xxxxxx, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany XX0X 0XX (the “Mortgagee”), ) its rights, title and interest in and to all policies and contracts of insurance from time to time taken out or entered into by or for the benefit of the Owner in respect of m.v. Daytona Xxxxxxx and her earnings and accordingly all claims hereunder shall be paid in full to the account of the Owner held with Safety Account designated [—] of [—] with account number [—SAMAOV-USDA] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon in either case all such claims shall be paid to the Mortgagee or its order. Schedule 2 Form of Notice of Assignment of Insurances (For attachment by way of endorsement to the Policy) OLYMPIAN HERA OWNERS INC.MARATHASSA SHIPPING CORPORATION of 00 Xxxxx Xxxxxx, a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, MajuroXxxxxxxx, Xxxxxxxx Islands MH96960, of Liberia the owner Owner of the m.v. Daytona, Xxxxxxx HEREBY GIVES NOTICE that by a Deed of Covenant Assignment dated [—] 2011 2005 and entered into by us with DVB THE ROYAL BANK SEOF SCOTLAND plc of The Shipping Business Centre, a banking corporation incorporated and established under the laws of the Federal Republic of Germany0-00 Xxxxx Xxxxx Xxxxxx, acting through its office at Xxxxx xxx Xxxxxxxx 0Xxxxxx, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, XX0X 0XX there has been assigned by us to DVB THE ROYAL BANK SE OF SCOTLAND plc as first mortgagee mortgagees of the said vessel, vessel all insurances in respect thereof, including the insurances constituted by the Policy whereon this notice is endorsed. Signed For and on behalf of OLYMPIAN HERA OWNERS INC. Dated: [—] Schedule 3 Power of Attorney By these presentsMARATHASSA SHIPPING CORPORATION Dated ____________________2005 SIGNED, the undersigned OLYMPIAN HERA OWNERS INC., SEALED and DELIVERED ) as a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960, does hereby nominate and appoint DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, as our Special Attorney and authorise it to apply for the closure of the Maltese Register of the m.v. Daytona in terms of Section 28 of the Merchant Shipping Act, Cap. 234, in our name and on our behalf and to pay all such fees, make all such declarations and receive all such certificates, including the Deletion Certificate, as may be necessary for the proper fulfilment of the above mandate. We further authorise our Attorney to request and obtain from the Registrar of Shipping copies certified DEED ) by the said Registrar of any documents that may be filed with the said Registrar. Our Attorney is authorised to delegate all its power hereunder in writing. This mandate is granted in the interest of and as part of the security of DVB BANK SE, and is irrevocable. This the [—] day of [—] ) for and on behalf of OLYMPIAN HERA OWNERS INC. In ) MARATHASSA SHIPPING CORPORATION ) __________________ pursuant to a power of attorney ) Attorney-in-Fact dated 2005 ) in the presence of: Schedule 4 Letter of Acceptance to act ) __________________ Witness Name: Address: Occupation: SIGNED, SEALED and DELIVERED ) as process agent I Xx. Xxxxxx Xxxxx of Valletta, Malta agree to act as process agent for OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960 (the “Owner”DEED ) in connection with any proceedings in Malta pursuant to a Deed of Covenant dated [—] 2011 (the “Deed of Covenant”by ) and entered into between the Owner and yourselves, DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting for the purpose of the Deed of Covenant through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany as security agent and trustee for and on behalf of the other Secured Creditors (as defined ) THE ROYAL BANK OF SCOTLAND plc ) pursuant to a power of attorney ) __________________ dated ) Attorney-in-Fact in the Deed presence of: ) Witness Name: Address: Occupation: Schedule 8 Form of Covenant) subject Manager’s Undertaking Private & Confidential Manager’s Undertaking To: The Royal Bank of Scotland plc The Shipping Business Centre 0-00 Xxxxx Xxxxx Xxxxxx Xxxxxx XX0X 0XX Xxxxxxx From: Safety Management Overseas S.A. Xxxxxxxx Xxxxx Xxxxxxxxx Xxxx 00 Xxxxxxx Xxxxxxxx Xxxx X.X. Xxx 0000 Xxxxxx Xxxxxxxx xx Xxxxxx Dear Sirs Multicurrency loan of up to the conditions that:$28,000,000 to Marathassa Shipping Corporation

Loss of earnings. By a Deed of Covenant dated [—•] 20112012, OLYMPIAN HERA OWNERS JEMO SHIPPING COMPANY INC., a corporation incorporated under the laws . of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960 (the “"Owner”), ") has assigned to DVB NORDEA BANK SEFINLAND PLC, a banking corporation incorporated and established under the laws LONDON BRANCH of the Federal Republic of Germany0xx Xxxxx, acting through its office at Xxxx Xxxxx xxx Xxxxxxxx 0House, X-00000 Xxxxxxxxx xx Xxxx00 Xxxxxxxxxx Xxxxxx, Xxxxxx XX0X 0XX, Xxxxxxx Xxxxxxxx of Germany (the “"Mortgagee”") (subject to the prior assignment in favour of Nordea Bank Finland Plc, London Branch contained in the deed of covenant dated [•] 2012), its rights, title and interest in and to all policies and contracts of insurance from time to time taken out or entered into by or for the benefit of the Owner in respect of m.vx.x. Daytona Xxxx and accordingly all claims hereunder shall be paid in full to the account [here insert details of the Owner held with [—] of [—] with account number [—Operating Account] unless and until the Mortgagee Mortgage shall have notified the insurers hereunder to the contrary, whereupon in either case all such claims shall be paid to the Mortgagee or its order. Schedule 2 Form of Notice of Assignment of Insurances (For attachment by way of endorsement to the Policy) OLYMPIAN HERA OWNERS JEMO SHIPPING COMPANY INC., a corporation incorporated under the laws . of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960, MH96960 the owner Owner of the m.vx.x. Daytona, Xxxx HEREBY GIVES NOTICE that by a Deed of Covenant dated [—.] 2011 2012 and entered into by us with DVB NORDEA BANK SEFINLAND PLC, a banking corporation incorporated and established under the laws LONDON BRANCH of the Federal Republic of Germany0xx Xxxxx, acting through its office at Xxxx Xxxxx xxx Xxxxxxxx 0House, X-00000 Xxxxxxxxx xx Xxxx00 Xxxxxxxxxx Xxxxxx, Xxxxxxx Republic of GermanyXxxxxx XX0X 0XX, Xxxxxxx, there has been assigned by us to DVB NORDEA BANK SE FINLAND PLC, LONDON BRANCH as mortgagee (subject to the rights of the Mortgagee under a first mortgagee priority deed of covenant in favour of the Mortgagee dated [.] 2012) of the said vessel, vessel all insurances in respect thereof, including the insurances constituted by the Policy whereon this notice is endorsed. ___________________________ Signed For and on behalf of OLYMPIAN HERA OWNERS JEMO SHIPPING COMPANY INC. DatedDate: [—•] Schedule 3 Power of Attorney By these presents, the undersigned OLYMPIAN HERA OWNERS INC., 2012 EXECUTED as a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960, does hereby nominate and appoint DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, as our Special Attorney and authorise it to apply for the closure of the Maltese Register of the m.v. Daytona in terms of Section 28 of the Merchant Shipping Act, Cap. 234, in our name and on our behalf and to pay all such fees, make all such declarations and receive all such certificates, including the Deletion Certificate, as may be necessary for the proper fulfilment of the above mandate. We further authorise our Attorney to request and obtain from the Registrar of Shipping copies certified DEED ) by the said Registrar of any documents that may be filed with the said Registrar. Our Attorney is authorised to delegate all its power hereunder in writing. This mandate is granted in the interest of and as part of the security of DVB BANK SE, and is irrevocable. This the [—] day of [—] ) for and on behalf of OLYMPIAN HERA OWNERS ) JEMO SHIPPING COMPANY INC. In ) Attorney-in-Fact in the presence of: Schedule 4 Letter of Acceptance to act as process agent I Xx. Xxxxxx Xxxxx of Valletta, Malta agree to act as process agent for OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960 (the “Owner”) in connection with any proceedings in Malta pursuant to a Deed of Covenant dated [—] 2011 (the “Deed of Covenant”) and entered into between the Owner and yourselves, DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting for the purpose of the Deed of Covenant through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany as security agent and trustee for and on behalf of the other Secured Creditors (as defined in the Deed of Covenant) subject to the conditions that:)

Loss of earnings. By a Deed of Covenant General Assignment dated [—] 2011•1 2007 SOFFIVE SHIPPING CORPORATION of 00 Xxxxx Xxxxxx, OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, MajuroXxxxxxxx, Xxxxxxxx Islands MH96960 of Liberia (the “Owner”), ) has assigned to DVB THE ROYAL BANK SEOF SCOTLAND plc of The Shipping Business Centre, a banking corporation incorporated and established under the laws of the Federal Republic of Germany0-00 Xxxxx Xxxxx Xxxxxx, acting through its office at Xxxxx xxx Xxxxxxxx 0Xxxxxx, X-00000 Xxxxxxxxx xx XxxxXX0X 0XX, Xxxxxxx Xxxxxxxx of Germany (the “Mortgagee”), ) its rights, title and interest in and to all policies and contracts of insurance from time to time taken out or entered into by or for the benefit of the Owner in respect of m.v. Daytona Sophia and her earnings and accordingly all claims hereunder shall be paid in full to the account of the Owner held with Safety Account designated [—] of [—] with account number [—•] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon in either case all such claims shall be paid to the Mortgagee or its order. Schedule 2 Form of Notice of Assignment of Insurances (For attachment by way of endorsement to the Policy) OLYMPIAN HERA OWNERS INC.SOFFIVE SHIPPING CORPORATION of 00 Xxxxx Xxxxxx, a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, MajuroXxxxxxxx, Xxxxxxxx Islands MH96960, of Liberia the owner of the m.v. Daytona, m.v Sophia HEREBY GIVES NOTICE that by a Deed of Covenant Assignment dated [—•] 2011 and entered into by us with DVB THE ROYAL BANK SEOF SCOTLAND plc of The Shipping Business Centre, a banking corporation incorporated and established under the laws of the Federal Republic of Germany0-00 Xxxxx Xxxxx Xxxxxx, acting through its office at Xxxxx xxx Xxxxxxxx 0Xxxxxx, X-00000 Xxxxxxxxx xx XxxxXX0X 0XX, Xxxxxxx Republic of Germany, there has been assigned by us to DVB THE ROYAL BANK SE OF SCOTLAND plc as first mortgagee mortgagees of the said vessel, vessel all insurances in respect thereof, including the insurances constituted by the Policy whereon this notice is endorsed. Signed For and on behalf of OLYMPIAN HERA OWNERS INC. SOFFIVE SHIPPING CORPORATION Dated: [—•] Schedule 3 Power of Attorney By these presents, the undersigned OLYMPIAN HERA OWNERS INC., EXECUTED as a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960, does hereby nominate and appoint DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, as our Special Attorney and authorise it to apply for the closure of the Maltese Register of the m.v. Daytona in terms of Section 28 of the Merchant Shipping Act, Cap. 234, in our name and on our behalf and to pay all such fees, make all such declarations and receive all such certificates, including the Deletion Certificate, as may be necessary for the proper fulfilment of the above mandate. We further authorise our Attorney to request and obtain from the Registrar of Shipping copies certified DEED ) by the said Registrar of any documents that may be filed with the said Registrar. Our Attorney is authorised to delegate all its power hereunder in writing. This mandate is granted in the interest of and as part of the security of DVB BANK SE, and is irrevocable. This the [—] day of [—] ) for and on behalf of OLYMPIAN HERA OWNERS INC. In ) SOFFIVE SHIPPING CORPORATION ) Attorney-in-Fact in the presence of: Schedule 4 Letter of Acceptance to act ) Witness Name: Address. Occupation: EXECUTED as process agent I Xx. Xxxxxx Xxxxx of Valletta, Malta agree to act as process agent for OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960 (the “Owner”DEED ) in connection with any proceedings in Malta pursuant to a Deed of Covenant dated [—] 2011 (the “Deed of Covenant”by ) and entered into between the Owner and yourselves, DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting for the purpose of the Deed of Covenant through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany as security agent and trustee for and on behalf of ) THE ROYAL BANK OF SCOTLAND ) Attorney-in-Fact in the other Secured Creditors presence of: ) Witness Name: Address. Occupation: Schedule 8 Form of Manager’s Undertaking 50 Private & Confidential Manager’s Undertaking To: The Royal Bank of Scotland plc The Shipping Business Centre 0-00 Xxxxx Xxxxx Xxxxxx Xxxxxx XX0X 0XX Xxxxxxx From: Safety Management Overseas S.A. Edificio Torre Universal Piso 12 Xxxxxxx Xxxxxxxx Xxxx P.O. Box 8807 Panama Republic of Panama 20 November 2007 Dear Sirs Multicurrency loan of up to $45,000,000 to Soffive Shipping Corporation 1 Loan Agreement We understand that under a Loan Agreement (as the “Loan Agreement”) dated 19 November 2007 between (1) yourselves The Royal Bank of Scotland plc (the “Bank” which expression includes the Bank’s successors and assigns) and (2) Soffive Shipping Corporation (the “Borrower”) the Bank has agreed to make a multicurrency loan of up to $45,000,000 (the “Loan”) to the Borrower and that it is a condition to the Bank’s agreement to make the Loan to the Borrower that we, Safety Management Overseas S.A. (the “Manager”), enter into this letter of undertaking (the “Letter”) in favour of the Bank. Words and expressions defined in the Deed of Covenant) subject to Loan Agreement shall, unless otherwise specified herein, have the conditions that:same meanings when used herein.

Loss of earnings. By a Deed of Covenant General Assignment dated [—] 2011•1 2006 MARINOUKI SHIPPING CORPORATION of 00 Xxxxx Xxxxxx, OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, MajuroXxxxxxxx, Xxxxxxxx Islands MH96960 of Liberia (the “Owner”), ) has assigned to DVB THE ROYAL BANK SEOF SCOTLAND plc of The Shipping Business Centre, a banking corporation incorporated and established under the laws of the Federal Republic of Germany0-00 Xxxxx Xxxxx Xxxxxx, acting through its office at Xxxxx xxx Xxxxxxxx 0Xxxxxx, X-00000 Xxxxxxxxx xx XxxxXX0X 0XX, Xxxxxxx Xxxxxxxx of Germany (the “Mortgagee”), ) its rights, title and interest in and to all policies and contracts of insurance from time to time taken out or entered into by or for the benefit of the Owner in respect of m.v. Daytona Marina and her earnings and accordingly all claims hereunder shall be paid in full to the account of the Owner held with Safety Account designated [—] of [—] with account number [—•] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon in either case all such claims shall be paid to the Mortgagee or its order. Schedule 2 Form of Notice of Assignment of Insurances (For attachment by way of endorsement to the Policy) OLYMPIAN HERA OWNERS INC.MARINOUKI SHIPPING CORPORATION of 00 Xxxxx Xxxxxx, a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, MajuroXxxxxxxx, Xxxxxxxx Islands MH96960, of Liberia the owner of the m.v. Daytona, Marina HEREBY GIVES NOTICE that by a Deed of Covenant Assignment dated [—] 2011 1 March 2006 and entered into by us with DVB THE ROYAL BANK SEOF SCOTLAND plc of The Shipping Business Centre, a banking corporation incorporated and established under the laws of the Federal Republic of Germany000 Xxxxx Xxxxx Xxxxxx, acting through its office at Xxxxx xxx Xxxxxxxx 0Xxxxxx, X-00000 Xxxxxxxxx xx XxxxXX0X 0XX, Xxxxxxx Republic of Germany, there has been assigned by us to DVB THE ROYAL BANK SE OF SCOTLAND plc as first mortgagee mortgagees of the said vessel, vessel all insurances in respect thereof, including the insurances constituted by the Policy whereon this notice is endorsed. Signed For and on behalf of OLYMPIAN HERA OWNERS INC. MARINOUKI SHIPPING CORPORATION Dated: [—•] Schedule 3 Power of Attorney By these presents, the undersigned OLYMPIAN HERA OWNERS INC., EXECUTED as a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960, does hereby nominate and appoint DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, as our Special Attorney and authorise it to apply for the closure of the Maltese Register of the m.v. Daytona in terms of Section 28 of the Merchant Shipping Act, Cap. 234, in our name and on our behalf and to pay all such fees, make all such declarations and receive all such certificates, including the Deletion Certificate, as may be necessary for the proper fulfilment of the above mandate. We further authorise our Attorney to request and obtain from the Registrar of Shipping copies certified DEED ) by the said Registrar of any documents that may be filed with the said Registrar. Our Attorney is authorised to delegate all its power hereunder in writing. This mandate is granted in the interest of and as part of the security of DVB BANK SE, and is irrevocable. This the [—] day of [—] ) for and on behalf of OLYMPIAN HERA OWNERS INC. In ) Attorney-in-Fact MARINOUKI SHIPPING CORPORATION ) in the presence of: Schedule 4 Letter of Acceptance to act ) ) Witness Name: Address: Occupation: EXECUTED as process agent I Xx. Xxxxxx Xxxxx of Valletta, Malta agree to act as process agent for OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960 (the “Owner”DEED ) in connection with any proceedings in Malta pursuant to a Deed of Covenant dated [—] 2011 (the “Deed of Covenant”by ) and entered into between the Owner and yourselves, DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting for the purpose of the Deed of Covenant through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany as security agent and trustee for and on behalf of ) Attorney-in-Fact THE ROYAL BANK OF SCOTLAND plc ) in the other Secured Creditors presence of: ) ) Witness Name: Address: Occupation: Schedule 8 Form of Manager’s Undertaking Private & Confidential Manager’s Undertaking To: The Royal Bank of Scotland plc The Shipping Business Centre 0-00 Xxxxx Xxxxx Xxxxxx Xxxxxx XX0X 0XX Xxxxxxx From: Safety Management Overseas S.A. Edificio Torre Universal Piso 12 Xxxxxxx Xxxxxxxx Xxxx P.O. Box 8807 Panama Republic of Panama 1 March 2006 Dear Sirs Multicurrency loan of up to $30,400,000 to Marinouki Shipping Corporation 1 Loan Agreement We understand that under a Loan Agreement (as the “Loan Agreement”) dated 1 March 2006 between (1) yourselves The Royal Bank of Scotland plc (the “Bank” which expression includes the Bank’s successors and assigns) and (2) Marinouki Shipping Corporation (the “Borrower”) the Bank has agreed to make a multicurrency loan of up to $30,400,000 (the “Loan”) to the Borrower and that it is a condition to the Bank’s agreement to make the Loan to the Borrower that we, Safety Management Overseas S.A. (the “Manager”), enter into this letter of undertaking (the “Letter”) in favour of the Bank. Words and expressions defined in the Deed of Covenant) subject to Loan Agreement shall, unless otherwise specified herein, have the conditions that:same meanings when used herein.

Loss of earnings. By a Deed of Covenant Assignment dated [—·] 2011, OLYMPIAN HERA OWNERS INC2012 [Q A MARITIME LTD., a corporation incorporated under the laws ] [Q IOANARI SHIPPING LTD] [Q JAKE SHIPPING LTD.] [Q XXXX SHIPPING LTD.] of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Xxxxxxxx Islands MH96960 Xxxxxxx XX00000 (the “Owner”), ) has assigned to DVB ABN AMRO BANK SEN.V. of Xxxxxxxxxx 00, a banking corporation incorporated and established under the laws of the Federal Republic of Germany0000 XX Rotterdam, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany The Netherlands (the “Mortgagee”), ) (subject to the prior assignment dated [7 September 2011] [29 September 2011] [10 June 2011] [19 June 2012] to ABN AMRO Bank N.V.) all its rights, title and interest in and to all policies and contracts of insurance from time to time taken out or entered into by or for the benefit of the Owner in respect of m.v. Daytona [Q Arion] [Q Ioanari] [Q Jake] [Q Xxxx] and her earnings and accordingly all claims hereunder shall be paid (subject to the prior rights of ABN AMRO Bank N.V. as first mortgagee) in full to the account of the Owner held with [—] of [—] with account number [—] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon in either case all such claims shall be paid to the Mortgagee or its order. Schedule 2 Form of Notice of Assignment of Insurances (For attachment by way [Q A MARITIME LTD.] [Q IOANARI SHIPPING LTD] [Q JAKE SHIPPING LTD.] [Q XXXX SHIPPING LTD.] of endorsement to the Policy) OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Xxxxxxxx Islands MH96960Xxxxxxx XX00000 (the “Owner”), the owner Owner of the m.v. Daytonamotor vessel [Q Arion] [Q Ioanari] [Q Jake] [Q Xxxx], HEREBY GIVES NOTICE that by a Deed of Covenant Assignment dated [—·] 2011 2012 and entered into by us with DVB ABN AMRO BANK SEN.V. of Xxxxxxxxxx 00, a banking corporation incorporated and established under the laws of the Federal Republic of Germany0000 XX Xxxxxxxxx, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, Xxx Xxxxxxxxxxx there has been assigned by us (subject to DVB the prior assignment dated [7 September 2011] [29 September 2011] [10 June 2011] [19 June 2012] to ABN AMRO Bank N.V.) to ABN AMRO BANK SE N.V. as first mortgagee second mortgagees of the said vessel, vessel all insurances in respect thereof, including the insurances constituted by the Policy whereon this notice is endorsed. Signed For and on behalf of OLYMPIAN HERA OWNERS INC. Dated[Q A MARITIME LTD.] [Q IOANARI SHIPPING LTD] [Q JAKE SHIPPING LTD.] [Q XXXX SHIPPING LTD.] Date: [—·] Schedule 3 Power of Attorney By these presents, the undersigned OLYMPIAN HERA OWNERS INC., EXECUTED as a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960, does hereby nominate and appoint DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Republic of Germany, as our Special Attorney and authorise it to apply for the closure of the Maltese Register of the m.v. Daytona in terms of Section 28 of the Merchant Shipping Act, Cap. 234, in our name and on our behalf and to pay all such fees, make all such declarations and receive all such certificates, including the Deletion Certificate, as may be necessary for the proper fulfilment of the above mandate. We further authorise our Attorney to request and obtain from the Registrar of Shipping copies certified DEED ) by the said Registrar of any documents that may be filed with the said Registrar. Our Attorney is authorised to delegate all its power hereunder in writing. This mandate is granted in the interest of and as part of the security of DVB BANK SE, and is irrevocable. This the [—] day of [—] ) for and on behalf of OLYMPIAN HERA OWNERS INC. In ) [Q A MARITIME LTD.] [Q IOANARI SHIPPING ) Attorney-in-fact LTD] [Q JAKE SHIPPING LTD.] [Q XXXX ) SHIPPING LTD.] ) in the presence of: Schedule 4 Letter of Acceptance to act ) Witness Name: Address: Occupation: EXECUTED as process agent I Xx. Xxxxxx Xxxxx of Valletta, Malta agree to act as process agent for OLYMPIAN HERA OWNERS INC., a corporation incorporated under the laws of the Xxxxxxxx Islands whose registered office is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH96960 (the “Owner”DEED by ) in connection with any proceedings in Malta pursuant to a Deed of Covenant dated [—] 2011 (the “Deed of Covenant”) and entered into between the Owner and yourselves, DVB BANK SE, a banking corporation incorporated and established under the laws of the Federal Republic of Germany, acting for the purpose of the Deed of Covenant through its office at Xxxxx xxx Xxxxxxxx 0, X-00000 Xxxxxxxxx xx Xxxx, Xxxxxxx Xxxxxxxx of Germany as security agent and trustee for and on behalf of the other Secured Creditors (as defined ) ABN AMRO BANK N.V. ) Attorney-in-fact in the Deed presence of: ) Witness Name: Address: Occupation: Schedule 12 Form of Covenant) subject to the conditions that:Manager’s Undertaking Part A Collateral Ships 97 Private & Confidential Manager’s Undertaking To: ABN AMRO Bank N.V.