ACCOUNTING AGREEMENTAccounting Agreement • March 27th, 2014 • Paragon Shipping Inc. • Deep sea foreign transportation of freight
Paragon Shinning Inc., a Marshall Islands corporation having its registered office at Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH 96960 (hereinafter the "Company" or "Paragon"),
Re: Secured Loan Facility Agreement Dated 2 July 2010 as amendedParagon Shipping Inc. • March 27th, 2014 • Deep sea foreign transportation of freight
Further to our recent discussions, we are pleased to advise you that HSBC BANK plc has approved on 10 February 2014 to amend the subject Agreement, and the Supplemental Agreement dated 30 November 2012 ( including the Letter dated 21 August 2013), subject to execution of appropriate Documentation to Lender’s entire satisfaction noting that Words and Expressions defined the Agreements shall have the same meanings when used in this Letter, unless otherwise defined or unless the context otherwise requires, as follows:
