Common use of Loss of earnings Clause in Contracts

Loss of earnings. By a General Assignment dated [.] March 2010 [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA SHIPPING S.A.] of [the Hellenic Republic, whose registered office is at 00 Xxxxxxxxxxxxx Xxxxxx, Xxxxxxx, Greece] [the Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx of Liberia] (the "Owner") has assigned to PIRAEUS BANK A.E. of 00-00 Xxxx Xxxxxxx, 000 00 Xxxxxxx, 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. [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 opened by the Owner with the Mortgagee and with account number [.] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon 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) [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA SHIPPING S.A.] of [the Hellenic Republic, whose registered office is at 00 Xxxxxxxxxxxxx Xxxxxx, Xxxxxxx, Greece] [the Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx of Liberia], the Owner of m.v. [Aegean Ace] [Aegean Champion] [Aegean Star] HEREBY GIVES NOTICE that by a General Assignment dated [•] March 2010 and entered into by us with PIRAEUS BANK A.E. of 00-00 Xxxx Xxxxxxx, 000 00 Xxxxxxx, Xxxxxx, there has been assigned by us to PIRAEUS BANK A.E. as 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 [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA SHIPPING S.A.] Dated: [●] EXECUTED as a DEED ) by ) for and on behalf of ) [AEGEAN ACE MARITIME COMPANY] ) Attorney-in-Fact [AMP MARITIME S.A.] ) [SILVER SEA SHIPPING S.A.] ) in the presence of: )

Loss of earnings. By a General Deed of Assignment dated [·] 2012 [Q A MARITIME LTD.] March 2010 [AEGEAN ACE MARITIME COMPANYQ IOANARI SHIPPING LTD] [AMP MARITIME S.A.Q JAKE SHIPPING LTD.] [SILVER SEA Q XXXX SHIPPING S.A.LTD.] of [the Hellenic RepublicTrust Company Complex, whose registered office is at 00 Xxxxxxxxxxxxx XxxxxxAjeltake Road, XxxxxxxAjeltake Island, Greece] [the Majuro, Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, the Xxxxxxxx of Liberia] Xxxxxxx XX00000 (the "“Owner"”) has assigned to PIRAEUS ABN AMRO BANK A.E. N.V. of Xxxxxxxxxx 00-00 Xxxx Xxxxxxx, 000 00 Xxxxxxx0000 XX Rotterdam, Xxxxxx 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. [Aegean AceQ Arion] [Aegean ChampionQ Ioanari] [Aegean StarQ 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 interest bearing United States Dollar account opened by the Owner with the Mortgagee and with account number [.] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon 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) [AEGEAN ACE Q A MARITIME COMPANYLTD.] [AMP MARITIME S.A.Q IOANARI SHIPPING LTD] [SILVER SEA Q JAKE SHIPPING S.A.LTD.] [Q XXXX SHIPPING LTD.] of [the Hellenic RepublicTrust Company Complex, whose registered office is at 00 Xxxxxxxxxxxxx XxxxxxAjeltake Road, XxxxxxxAjeltake Island, Greece] [the Majuro, Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, the Xxxxxxxx of Liberia]Xxxxxxx XX00000 (the “Owner”), the Owner of m.v. the motor vessel [Aegean AceQ Arion] [Aegean ChampionQ Ioanari] [Aegean StarQ Jake] [Q Xxxx], HEREBY GIVES NOTICE that by a General Deed of Assignment dated [•·] March 2010 2012 and entered into by us with PIRAEUS ABN AMRO BANK A.E. N.V. of Xxxxxxxxxx 00-00 Xxxx Xxxxxxx, 000 00 Xxxxxxx0000 XX Xxxxxxxxx, Xxxxxx, Xxx Xxxxxxxxxxx there has been assigned by us (subject to PIRAEUS 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 A.E. N.V. as mortgagee second mortgagees 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 [AEGEAN ACE Q A MARITIME COMPANYLTD.] [AMP MARITIME S.A.Q IOANARI SHIPPING LTD] [SILVER SEA Q JAKE SHIPPING S.A.LTD.] Dated[Q XXXX SHIPPING LTD.] Date: [●·] EXECUTED as a DEED ) by ) for and on behalf of ) [AEGEAN ACE Q A MARITIME COMPANYLTD.] [Q IOANARI SHIPPING ) Attorney-in-Fact fact LTD] [AMP MARITIME S.A.Q JAKE SHIPPING LTD.] [Q XXXX ) [SILVER SEA SHIPPING S.A.LTD.] ) in the presence of: )) Witness Name: Address: Occupation: EXECUTED as a DEED by ) for and on behalf of ) ABN AMRO BANK N.V. ) Attorney-in-fact in the presence of: ) Witness Name: Address: Occupation: Schedule 12 Form of Manager’s Undertaking Part A Collateral Ships 97 Private & Confidential Manager’s Undertaking To: ABN AMRO Bank N.V.

Loss of earnings. By a General Assignment Deed of Covenant dated [.•] March 2010 [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA 2012, JEMO SHIPPING S.A.] COMPANY INC. of [the Hellenic RepublicTrust Company Complex, whose registered office is at 00 Xxxxxxxxxxxxx XxxxxxAjeltake Road, XxxxxxxAjeltake Island, Greece] [the Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, XxxxxxxxMajuro, Xxxxxxxx of Liberia] Islands MH96960 (the "Owner") has assigned to PIRAEUS NORDEA BANK A.E. FINLAND PLC, LONDON BRANCH of 00-0xx Xxxxx, Xxxx Xxxxx House, 00 Xxxx Xxxxxxx, 000 00 XxxxxxxXxxxxxxxxx Xxxxxx, Xxxxxx XX0X 0XX, Xxxxxxx (the "Mortgagee") all (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. [Aegean Ace] [Aegean Champion] [Aegean Star] and her earnings Xxxx and accordingly all claims hereunder shall be paid in full to the interest bearing United States Dollar account opened by the Owner with the Mortgagee and with account number [.here insert details of 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) [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA JEMO SHIPPING S.A.] COMPANY INC. of [the Hellenic RepublicTrust Company Complex, whose registered office is at 00 Xxxxxxxxxxxxx XxxxxxAjeltake Road, XxxxxxxAjeltake Island, Greece] [the Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, XxxxxxxxMajuro, Xxxxxxxx of Liberia], Islands MH96960 the Owner of m.vthe x.x. [Aegean Ace] [Aegean Champion] [Aegean Star] Xxxx HEREBY GIVES NOTICE that by a General Assignment Deed of Covenant dated [•.] March 2010 2012 and entered into by us with PIRAEUS NORDEA BANK A.E. FINLAND PLC, LONDON BRANCH of 00-0xx Xxxxx, Xxxx Xxxxx House, 00 Xxxx Xxxxxxxxxx Xxxxxx, Xxxxxx XX0X 0XX, Xxxxxxx, 000 00 Xxxxxxx, Xxxxxx, there has been assigned by us to PIRAEUS NORDEA BANK A.E. FINLAND PLC, LONDON BRANCH as mortgagee (subject to the rights of the Mortgagee under a first priority deed of covenant in favour of the Mortgagee dated [.] 2012) of the said 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 [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA JEMO SHIPPING S.A.] DatedCOMPANY INC. Date: [●•] 2012 EXECUTED as a DEED ) by ) for and on behalf of ) [AEGEAN ACE MARITIME COMPANY] JEMO SHIPPING COMPANY INC. ) Attorney-in-Fact [AMP MARITIME S.A.] ) [SILVER SEA SHIPPING S.A.] ) in the presence of: )

Loss of earnings. By a General Assignment dated [.] March 2010 [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA •1 2006 MARINOUKI SHIPPING S.A.] CORPORATION of [the Hellenic Republic, whose registered office is at 00 Xxxxxxxxxxxxx Xxxxxx, Xxxxxxx, Greece] [the Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx of Liberia] Liberia (the "“Owner"”) has assigned to PIRAEUS THE ROYAL BANK A.E. OF SCOTLAND plc of 00The Shipping Business Centre, 0-00 Xxxx XxxxxxxXxxxx Xxxxx Xxxxxx, 000 00 XxxxxxxXxxxxx, Xxxxxx XX0X 0XX, Xxxxxxx (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. [Aegean Ace] [Aegean Champion] [Aegean Star] Marina and her earnings and accordingly all claims hereunder shall be paid in full to the interest bearing United States Dollar account opened by the Owner with the Mortgagee and with account number Safety Account designated [.•] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon 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) [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA MARINOUKI SHIPPING S.A.] CORPORATION of [the Hellenic Republic, whose registered office is at 00 Xxxxxxxxxxxxx Xxxxxx, Xxxxxxx, Greece] [the Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx of Liberia], Liberia the Owner owner of the m.v. [Aegean Ace] [Aegean Champion] [Aegean Star] Marina HEREBY GIVES NOTICE that by a General Deed of Assignment dated [•] 1 March 2010 2006 and entered into by us with PIRAEUS THE ROYAL BANK A.E. OF SCOTLAND plc of 00-00 Xxxx XxxxxxxThe Shipping Business Centre, 000 00 XxxxxxxXxxxx Xxxxx Xxxxxx, Xxxxxx, XX0X 0XX, Xxxxxxx there has been assigned by us to PIRAEUS THE ROYAL BANK A.E. OF SCOTLAND plc as mortgagee first mortgagees of the said 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 [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA MARINOUKI SHIPPING S.A.] CORPORATION Dated: [●•] EXECUTED as a DEED ) by ) for and on behalf of ) [AEGEAN ACE MARITIME COMPANY] Attorney-in-Fact MARINOUKI SHIPPING CORPORATION ) in the presence of: ) ) Witness Name: Address: Occupation: EXECUTED as a DEED ) by ) for and on behalf of ) Attorney-in-Fact [AMP MARITIME S.A.] ) [SILVER SEA SHIPPING S.A.] THE ROYAL BANK OF SCOTLAND plc ) in the 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 (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 Loan Agreement shall, unless otherwise specified herein, have the same meanings when used herein.

Loss of earnings. By a General Deed of Assignment dated [.] March 2010 [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA PETRA SHIPPING S.A.] LTD of [the Hellenic Republic, whose registered office is at 00 Xxxxxxxxxxxxx Xxxxxx, Xxxxxxx, Greece] [the Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx of Liberia] Liberia (the "“Owner"”) has assigned to PIRAEUS BANK A.E. BAYERISCHE HYPO -UND VEREINSBANK AKTIENGESELLSCHAFT of 00-00 Xxxx Xxxxxxx0 Xxxxxxxxxx Xxxxxx, 000 00 XxxxxxxXxxxxx, 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. [Aegean Ace] [Aegean Champion] [Aegean Star] Pedhoulas Trader and her earnings and accordingly all claims hereunder shall be paid in full to the interest bearing United States Dollar account opened by the Owner with the Mortgagee and with account number Operating Account designated [.•] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon 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) [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA PETRA SHIPPING S.A.] LTD of [the Hellenic Republic, whose registered office is at 00 Xxxxxxxxxxxxx Xxxxxx, Xxxxxxx, Greece] [the Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx of Liberia], Liberia the Owner owner of the m.v. [Aegean Ace] [Aegean Champion] [Aegean Star] Pedhoulas Trader HEREBY GIVES NOTICE that by a General Deed of Assignment dated [•] March 2010 and entered into by us with PIRAEUS BANK A.E. BAYERISCHE HYPO -UND VEREINSBANK AKTIENGESELLSCHAFT of 00-00 Xxxx Xxxxxxx0 Xxxxxxxxxx Xxxxxx, 000 00 Xxxxxxx, Xxxxxx, Xxxxxx there has been assigned by us to PIRAEUS BANK A.E. BAYERISCHE HYPO -UND VEREINSBANK AKTIENGESELLSCHAFT as mortgagee mortgagees of the said 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 [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA PETRA SHIPPING S.A.] LTD Dated: [●] EXECUTED as a DEED ) by ) for and on behalf of ) [AEGEAN ACE MARITIME COMPANY] PETRA SHIPPING LTD ) Attorney-in-Fact [AMP MARITIME S.A.] in the presence of: ) [SILVER SEA SHIPPING S.A.] Witness Name: Address: Occupation: EXECUTED as a DEED ) by ) and by ) Authorised signatory for and on behalf of ) BAYERISCHE HYPO- UND VEREINSBANK ) AKTIENGESELLSCHAFT ) in the 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 (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 Loan Agreement shall, unless otherwise specified herein, have the same meanings when used herein.

Loss of earnings. By a General Assignment dated [.] March 2010 [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA •1 2007 SOFFIVE SHIPPING S.A.] CORPORATION of [the Hellenic Republic, whose registered office is at 00 Xxxxxxxxxxxxx Xxxxxx, Xxxxxxx, Greece] [the Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx of Liberia] Liberia (the "“Owner"”) has assigned to PIRAEUS THE ROYAL BANK A.E. OF SCOTLAND plc of 00The Shipping Business Centre, 0-00 Xxxx XxxxxxxXxxxx Xxxxx Xxxxxx, 000 00 XxxxxxxXxxxxx, Xxxxxx XX0X 0XX, Xxxxxxx (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. [Aegean Ace] [Aegean Champion] [Aegean Star] Sophia and her earnings and accordingly all claims hereunder shall be paid in full to the interest bearing United States Dollar account opened by the Owner with the Mortgagee and with account number Safety Account designated [.•] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon 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) [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA SOFFIVE SHIPPING S.A.] CORPORATION of [the Hellenic Republic, whose registered office is at 00 Xxxxxxxxxxxxx Xxxxxx, Xxxxxxx, Greece] [the Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx of Liberia], Liberia the Owner owner of m.v. [Aegean Ace] [Aegean Champion] [Aegean Star] the m.v Sophia HEREBY GIVES NOTICE that by a General Deed of Assignment dated [•] March 2010 and entered into by us with PIRAEUS THE ROYAL BANK A.E. OF SCOTLAND plc of 00The Shipping Business Centre, 0-00 Xxxx Xxxxxxx, 000 00 XxxxxxxXxxxx Xxxxx Xxxxxx, Xxxxxx, XX0X 0XX, Xxxxxxx there has been assigned by us to PIRAEUS THE ROYAL BANK A.E. OF SCOTLAND plc as mortgagee first mortgagees of the said 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 [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA SOFFIVE SHIPPING S.A.] CORPORATION Dated: [●•] EXECUTED as a DEED ) by ) for and on behalf of ) [AEGEAN ACE MARITIME COMPANY] SOFFIVE SHIPPING CORPORATION ) Attorney-in-Fact [AMP MARITIME S.A.] ) [SILVER SEA SHIPPING S.A.] ) in the presence of: ) Witness Name: Address. Occupation: EXECUTED as a DEED ) by ) for and on behalf of ) THE ROYAL BANK OF SCOTLAND ) Attorney-in-Fact in the 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 (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 Loan Agreement shall, unless otherwise specified herein, have the same meanings when used herein.

Loss of earnings. By a General Assignment dated [.] March 2010 [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA 2005 MARATHASSA SHIPPING S.A.] CORPORATION of [the Hellenic Republic, whose registered office is at 00 Xxxxxxxxxxxxx Xxxxxx, Xxxxxxx, Greece] [the Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx of Liberia] Liberia (the "“Owner"”) has assigned to PIRAEUS THE ROYAL BANK A.E. OF SCOTLAND plc of 00The Shipping Business Centre, 0-00 Xxxx XxxxxxxXxxxx Xxxxx Xxxxxx, 000 00 XxxxxxxXxxxxx, Xxxxxx XX0X 0XX (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. [Aegean Ace] [Aegean Champion] [Aegean Star] Xxxxxxx and her earnings and accordingly all claims hereunder shall be paid in full to the interest bearing United States Dollar account opened by the Owner with the Mortgagee and with account number Safety Account designated [.SAMAOV-USDA] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon 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) [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA MARATHASSA SHIPPING S.A.] CORPORATION of [the Hellenic Republic, whose registered office is at 00 Xxxxxxxxxxxxx Xxxxxx, Xxxxxxx, Greece] [the Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx of Liberia], Liberia the Owner of the m.v. [Aegean Ace] [Aegean Champion] [Aegean Star] Xxxxxxx HEREBY GIVES NOTICE that by a General Deed of Assignment dated [•] March 2010 2005 and entered into by us with PIRAEUS THE ROYAL BANK A.E. OF SCOTLAND plc of 00The Shipping Business Centre, 0-00 Xxxx Xxxxxxx, 000 00 XxxxxxxXxxxx Xxxxx Xxxxxx, Xxxxxx, XX0X 0XX there has been assigned by us to PIRAEUS THE ROYAL BANK A.E. OF SCOTLAND plc as mortgagee mortgagees of the said 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 [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA MARATHASSA SHIPPING S.A.] Dated: [●] EXECUTED CORPORATION Dated ____________________2005 SIGNED, SEALED and DELIVERED ) as a DEED ) by ) for and on behalf of ) [AEGEAN ACE MARITIME COMPANY] MARATHASSA SHIPPING CORPORATION ) __________________ pursuant to a power of attorney ) Attorney-in-Fact [AMP MARITIME S.A.] ) [SILVER SEA SHIPPING S.A.] dated 2005 ) in the presence of: )) __________________ Witness Name: Address: Occupation: SIGNED, SEALED and DELIVERED ) as a DEED ) by ) for and on behalf of ) THE ROYAL BANK OF SCOTLAND plc ) pursuant to a power of attorney ) __________________ dated ) Attorney-in-Fact in the 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. Xxxxxxxx Xxxxx Xxxxxxxxx Xxxx 00 Xxxxxxx Xxxxxxxx Xxxx X.X. Xxx 0000 Xxxxxx Xxxxxxxx xx Xxxxxx Dear Sirs Multicurrency loan of up to $28,000,000 to Marathassa Shipping Corporation

Loss of earnings. By a General Deed of Assignment dated [·] 2013 [Q A MARITIME LTD.] March 2010 [AEGEAN ACE MARITIME COMPANYQ IOANARI SHIPPING LTD] [AMP MARITIME S.A.Q JAKE SHIPPING LTD.] [SILVER SEA Q XXXX SHIPPING S.A.LTD.] of [the Hellenic RepublicTrust Company Complex, whose registered office is at 00 Xxxxxxxxxxxxx XxxxxxAjeltake Road, XxxxxxxAjeltake Island, Greece] [the Majuro, Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, the Xxxxxxxx of Liberia] Xxxxxxx XX00000 (the "“Owner"”) has assigned to PIRAEUS ABN AMRO BANK A.E. N.V. of Xxxxxxxxxx 00-00 Xxxx Xxxxxxx, 000 00 Xxxxxxx0000 XX Rotterdam, Xxxxxx 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. [Aegean AceQ Arion] [Aegean ChampionQ Ioanari] [Aegean StarQ 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 interest bearing United States Dollar account opened by the Owner with the Mortgagee and with account number [.] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon 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) [AEGEAN ACE Q A MARITIME COMPANYLTD.] [AMP MARITIME S.A.Q IOANARI SHIPPING LTD] [SILVER SEA Q JAKE SHIPPING S.A.LTD.] [Q XXXX SHIPPING LTD.] of [the Hellenic RepublicTrust Company Complex, whose registered office is at 00 Xxxxxxxxxxxxx XxxxxxAjeltake Road, XxxxxxxAjeltake Island, Greece] [the Majuro, Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, the Xxxxxxxx of Liberia]Xxxxxxx XX00000 (the “Owner”), the Owner of m.v. the motor vessel [Aegean AceQ Arion] [Aegean ChampionQ loanari] [Aegean StarQ Jake] [Q Xxxx], HEREBY GIVES NOTICE that by a General Deed of Assignment dated [•·] March 2010 2013 and entered into by us with PIRAEUS ABN AMRO BANK A.E. N.V. of Xxxxxxxxxx 00-00 Xxxx Xxxxxxx, 000 00 Xxxxxxx0000 XX Xxxxxxxxx, Xxxxxx, Xxx Xxxxxxxxxxx there has been assigned by us (subject to PIRAEUS 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 A.E. N.V. as mortgagee third mortgagees 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 [AEGEAN ACE Q A MARITIME COMPANYLTD.] [AMP MARITIME S.A.Q IOANARI SHIPPING LTD] [SILVER SEA Q JAKE SHIPPING S.A.LTD.] Dated[Q XXXX SHIPPING LTD.] Date: [●·] EXECUTED as a DEED ) by ) for and on behalf of ) [AEGEAN ACE Q A MARITIME COMPANYLTD.] [Q IOANARI SHIPPING LTD] [Q JAKE SHIPPING LTD.] [Q XXXX SHIPPING LTD.] ) ) ) Attorney-in-Fact [AMP MARITIME S.A.] ) [SILVER SEA SHIPPING S.A.] ) fact in the presence of: )) Witness Name: Address: Occupation: EXECUTED as a DEED ) by ) for and on behalf of ) ABN AMRO BANK N.V. ) Attorney-in-fact in the 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 security agent and trustee) From: Xxxxxxxx Ship Management Ltd. Trust Company Complex Ajeltake Road Ajeltake Island Majuro Republic of the Xxxxxxxx Xxxxxxx XX00000 August 2013 Dear Sirs Loan of up to 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 General Assignment dated {date} [.] March 2010 [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA SHIPPING S.A.here insert name of Owner] of [the Hellenic Republic, whose registered office is at 00 Xxxxxxxxxxxxx Xxxxxx, Xxxxxxx, Greece] [the Republic here insert address of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx of LiberiaOwner] (the "Owner") has assigned to PIRAEUS BANK A.E. [here insert name of 00-00 Xxxx Xxxxxxx, 000 00 Xxxxxxx, Xxxxxx Mortgagee] of [here insert address of Mortgagee] (Mortgagee) (as security agent and trustee for and on behalf of the "Mortgagee"Finance Parties) 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. "[Aegean Ace] [Aegean Champion] [Aegean Star] here insert name of Ship]" and her earnings and accordingly all claims hereunder shall be paid in full to the interest bearing United States Dollar account opened by the Owner with the Mortgagee and with account number [.here insert details of [Operating Account] unless and until the Mortgagee shall have notified the insurers hereunder to the contrary, whereupon 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) [AEGEAN ACE MARITIME COMPANY] [AMP MARITIME S.A.] [SILVER SEA SHIPPING S.A.here insert name of Owner] of [the Hellenic Republic, whose registered office is at 00 Xxxxxxxxxxxxx Xxxxxx, Xxxxxxx, Greecehere insert address of Owner] [the Republic of Liberia, whose registered office is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx of Liberia], the Owner of the m.v. "[Aegean Ace] [Aegean Champion] [Aegean Star] here insert name of Ship]" HEREBY GIVES NOTICE that by a General Deed of Assignment dated [•] March 2010 {date} and entered into by us with PIRAEUS BANK A.E. [here insert name of 00-00 Xxxx Xxxxxxx, 000 00 Xxxxxxx, XxxxxxMortgagee] of [here insert address of Mortgagee] (as security agent and trustee for and on behalf of the Finance Parties), there has been assigned by us to PIRAEUS BANK A.E. [here insert name of Mortgagee] (as mortgagee security agent and trustee for and on behalf of the Finance Parties) as mortgagees 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 [AEGEAN ACE MARITIME COMPANYhere insert name of Owner] SIGNED, SEALED and DELIVERED ) as a DEED ) by [AMP MARITIME S.A.IRISES SHIPPING LTD.][NEREUS NAVIGATION LTD.] ) acting by its duly authorised ) officers: ) ......................................................... Authorised Officer ......................................................... Authorised Officer [SILVER SEA SHIPPING S.A.] Dated: [●] EXECUTED OR:] SIGNED, SEALED and DELIVERED ) as a DEED ) by ) for and on behalf of ) [AEGEAN ACE MARITIME COMPANYIRISES SHIPPING LTD.][NEREUS NAVIGATION LTD.] ) pursuant to a power of attorney ) ......................................................... dated {date} ) Attorney-in-Fact [AMP MARITIME S.A.] ) [SILVER SEA SHIPPING S.A.] ) in the presence of: )) ......................................................... Witness Name: Address: Occupation: SIGNED, SEALED and DELIVERED ) as a DEED ) by ) for and on behalf of China Development Bank Corporation ) (as 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 DEED OF SUBORDINATION NXXXXX XXXX THIS DEED OF SUBORDINATION is dated …………………… 2013, and made BETWEEN: