Consent to Effectiveness of New Financial Covenants Effective Date
Exhibit 10.2
Execution Version
July 14, 2020
To: | CITIBANK N.A., LONDON BRANCH, as ECA Agent |
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| ABN AMRO CAPITAL USA LLC, as Administrative Agent |
Consent to Effectiveness of New Financial Covenants Effective Date
Ladies and Gentlemen:
We refer to the amended and restated facility agreement dated April 29, 2020 (the “Facility Agreement”) made among (i) Dorian LPG Finance LLC as borrower, (ii) entities listed in Schedule 1 (The original parties) Part B thereto as owners and upstream guarantors, (iii) Dorian LPG Ltd., as facility guarantor, (iv) ABN AMRO Capital USA LLC, Citibank N.A., London Branch, ING Bank N.V., London Branch, Crédit Agricole Corporate and Investment Bank and Skandinaviska Enskilda Xxxxxx XX (publ), as bookrunners, (v) ABN AMRO Capital USA LLC and ING Bank N.V., London Branch, as joint syndication agents, (vi) ABN AMRO Capital USA LLC, Citibank N.A., London Branch, ING Bank N.V., London Branch, Banco Santander, S.A. and the Export-Import Bank of Korea, as mandated lead arrangers, (vii) the banks and financial institutions listed in Schedule 1 (The original parties) Part F thereto, as commercial lenders, (viii) the banks and financial institutions listed in Schedule 1 (The original parties) Part G thereto, as KEXIM lenders, (vix) the Export-Import Bank of Korea, as KEXIM, (x) the banks and financial institutions listed in Schedule 1 (The original parties) Part I thereto, as K-sure lenders, (xi) the banks and financial institutions listed in Schedule 1 (The original parties) Part J thereto, as swap banks, (xii) the banks and financial institutions listed in Schedule 1 (The original parties) Part P thereto, as new facilities lenders, (xiii) ABN AMRO Capital USA LLC, as global coordinator, sustainability coordinator, agent and security agent for and on behalf of the finance parties, (xiv) Citibank N.A., London Branch or any of its holding companies, subsidiaries or affiliates, as ECA coordinator, and (xv) Citibank N.A., London Branch as ECA agent. Words and expressions defined in the Facility Agreement shall, unless otherwise defined herein, have the same meaning when used herein.
We further refer to Clause 19.2(b) of the Facility Agreement.
We, the undersigned Lenders, being the parties whose approval is required for the financial covenants set out in Clause 19.2(b) of the Facility Agreement to become effective as provided in the definition of New Financial Covenants Effective Date of the Facility Agreement, hereby consent to the effectiveness of Clause 19.2(b).
We authorize the Administrative Agent to circulate to the Parties to the Facility Agreement a notice in the form set out in Schedule 1 hereto setting forth the New Financial Covenants Effective Date.
This letter may be executed in any number of counterparts, and has the same effect as if the signatures on the counterparts were on a single copy of the letter.
This consent shall be governed by the laws of the State of New York.
Sincerely,
ABN AMRO CAPITAL USA LLC |
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As Lender | | | |||
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By: | /s/ Xxxxx Xxxxx | | By: | /s/ Xxxx Xxxxxxx | |
Name: | Xxxxx Xxxxx | | | Name: | Xxxx Xxxxxxx |
Title: | Director | | | Title: | Executive Director |
CITIBANK N.A., LONDON BRANCH |
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As Lender | | | ||
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By: | /s/ Xxxxxx X’Xxxxxx | | By: | |
Name: | Xxxxxx X’Xxxxxx | | | Name: |
Title: | Vice President | | | Title: |
THE EXPORT-IMPORT BANK OF KOREA |
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As Lender | | | ||
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By: | /s/ Xxxx-xxx .Ju | | By: | |
Name: | Xxxx-xxx .Ju | | | Name: |
Title: | Director General | | | Title: |
ING BANK N.V., LONDON BRANCH |
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As Lender | | | |||
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By: | /s/ Xxxxxxx Xxxxxxx | | By: | /s/ Xxxx Xxxxx | |
Name: | Xxxxxxx Xxxxxxx | | | Name: | Xxxx Xxxxx |
Title: | Managing Director, Global Head of Shipping | | | Title: | Managing Director |
CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK |
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As Lender | | | |||
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By: | /s/ Xxxxxxxxx Xxxxx | | By: | /s/ Georgios Gkanasoulis | |
Name: | Xxxxxxxxx Xxxxx | | | Name: | Georgios Gkanasoulis |
Title: | Senior Associate | | | Title: | Director |
SKANDINAVISKA ENSKILDA XXXXXX XX (PUBL) |
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As Lender | | | |||
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By: | /s/ Ame Julle-Skielse | | By: | /s/ Magnus Arve | |
Name: | Ame Julle-Skielse | | | Name: | Magnus Arve |
Title: | Head of Shipping Finance Sweden | | | Title: | Legal Counsel |
NOTICE OF NEW FINANCIAL COVENANTS EFFECTIVE DATE
Consent to Effectiveness of New Financial Covenants Effective Date dated July __, 2020 (the “Consent”)
We refer to the Consent.
The New Financial Covenants Effective Date is July __, 2020.
THE ADMINISTRATIVE AGENT | |
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For and on behalf of | |
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ABN AMRO CAPITAL USA LLC | |
