Amendments to Principal Agreement Clause Examples

Amendments to Principal Agreement. The Principal Agreement shall, with effect on and from the Effective Date, be (and it is hereby) amended in accordance with the following provisions (and the Principal Agreement (as so amended) will continue to be binding upon the Creditors and the Borrowers upon such terms as so amended): 3.1.1 by deleting the definition of "Aegean Marine Guarantee" in clause 1.2 of the Principal Agreement and by inserting in its place the following new definition of "Aegean Marine Guarantee":

Amendments to Principal Agreement. The Principal Agreement shall, with effect on and from the Effective Date, be deemed (and is hereby deemed) to have been amended as of 13 March 2009 in accordance with the following provisions (and the Principal Agreement (as so deemed to have been amended) will continue to be binding upon each of the parties hereto upon such terms as so deemed to have been amended): 3.1.1 by deleting in clause 1.2 of the Principal Agreement the definitions of “Margin” and “Supplemental Agreement”; 3.1.2 by inserting in clause 1.2 of the Principal Agreement the following new definitions of “Approved Charter”, “Borrower’s Account”, “Borrower’s Account Pledge”, “First Supplemental Agreement”, “Margin”, “Second Supplemental Agreement”, “Supplemental Agreements” and “Suspension Notice” in the correct alphabetical order:

Amendments to Principal Agreement. The Principal Agreement shall, with effect on and from the Effective Date, be (and it is hereby) amended so as to read in accordance with the form of the amended and restated Loan Agreement set out in schedule 3 and (as so amended) will continue to be binding upon the Creditors and the Borrowers in accordance with its terms as so amended and restated.

Amendments to Principal Agreement. The Principal Agreement shall, with effect on and from the Effective Date, be (and it is hereby) amended in accordance with the following provisions (and the Principal Agreement (as so amended) will continue to be binding upon each of the parties hereto upon such terms as so amended): 3.1.1 by deleting the existing definition of “Management Agreement” in clause 1.2 and by inserting the following definitions of “Conditions Date”, “Corporate Guarantee”, “Corporate Guarantor” “Hadjioannou Family”, “Management Agreement” and “Supplemental Agreement” in the correct alphabetical order in clause 1.2:

Amendments to Principal Agreement. With effect from the Effective Date, the Principal Agreement is amended: (a) in Clause 1- (i) by amending the definition of “Effective Repayment Date” to read as follows:

Amendments to Principal Agreement. The Principal Agreement shall, with effect on and from the Effective Date, be (and it is hereby) amended in accordance with the following provisions and (as so amended) it will continue to be binding upon the Creditors and the Borrowers upon such terms as so amended): (a) by deleting the definition of "Margin" in clause 1.2 of the Principal Agreement in its entirety and by inserting in its place the following new definition of "Margin": (a) Margin" means: (a) for the period commencing on the first Drawdown Date and ending on 30 June 2009, zero point seven five per cent (0.75%) per annum; (b) for the period commencing on 1 July 2009 and ending on 30 June 2010, two per cent (2%) per annum; (c) for the period commencing on 1 July 2010 and ending on 24 September 2010, zero point seven five per cent (0.75%) per annum; and (d) from 25 September 2010 and at all other times thereafter, one point seven five per cent (1.75%) per annum;"; (b) by inserting the following new definition in clause 2.1 of the Principal Agreement in the correct alphabetical order:

Amendments to Principal Agreement. The Principal Agreement shall, with effect on and from the Effective Date, be (and it is hereby) amended in accordance with the following provisions (and the Principal Agreement (as so amended) will continue to be binding upon the Creditors and the Borrowers upon such terms as so amended): 3.1.1 by deleting the words “Republic of Malta” in the definition of “Flag State” in clause 1.2 of the Principal Agreement and by replacing it with the words “Republic of Liberia”; 3.1.2 by inserting the following new definition of “Second Supplemental Agreement” in the correct alphabetical order in clause 1.2 of the Principal Agreement:

Amendments to Principal Agreement. The Principal Agreement shall be amended as follows: 2.1 Section 3.1 shall be deleted and replaced by the following new Section: 3.1 The aggregate consideration payable by the Purchaser to the Vendors in respect of the sale of the Shares shall be (pound)27,000,000 consisting of: 3.1.1 (pound)3,095,293.84 in cash; 3.1.2 (pound)1,654,706.16 in Loan Notes issued pursuant to a deed poll in the form of the Deed Poll Constituting Unsecured Loan Notes due 6 April 2000 set out in Schedule 11, to be issued to the Vendors on Completion in the amounts set out against their names in column 4 of Schedule 1, Part A; 3.1.3 (pound)2,500,000 in Loan Notes issued pursuant to a deed poll in the form of the Deed Poll Constituting Unsecured Loan Notes due 30 June 2000 set out in Schedule 12, to be issued to the Vendors on Completion in the amounts set out against their names in column 4 of Schedule 1, Part A; and 3.1.4 (pound)19,750,000 in Purchaser Shares (placed in escrow on Completion and released in tranches thereafter in accordance with the Escrow Agreement) as described in Section 3.3." New Schedule 11 and Schedule 12 referred to above are attached to this Agreement. 2.2 Section 6.1.4 shall be deleted and replaced by the following new Section:

Amendments to Principal Agreement. Subject to the Agent confirming satisfaction of the conditions precedent set out in Schedule 2 (Conditions Precedent) to the restated Principal Agreement, with effect from 7 April 2011 the Principal Agreement shall be amended and restated as set out in the Schedule (Amended and Restated U.S.$1,000,000,000 Multicurrency Revolving Facility Agreement) to this 3rd Amendment.