GENER8 MARITIME,INC. (OTCBB:GMRRQ) Files An 8-K Entry into a Material Definitive Agreement

ME Staff 8-k
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GENER8 MARITIME,INC. (OTCBB:GMRRQ) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

On March 24, 2017, Gener8 Maritime, Inc. (the “Company”) entered into a Second Amendment Agreement (the “Amendment”) to the term loan facility dated as of August 31, 2015, by and among Gener8 Maritime Subsidiary VIII, as borrower, the Company, as parent guarantor, Gener8 Maritime Subsidiary V Inc., as shareholder, the owner guarantors and hedge guarantors party thereto, the lenders party thereto, the Export-Import Bank of Korea (KEXIM), Citibank, N.A., as ECA agent and Nordea Bank AB (publ), New York Branch as facility agent and security agent (the “Korean Export Credit Facility”). The Amendment revised the definition of “Fiscal Quarter Date” contained in the Korean Export Credit Facility to be the 15th day of each of April, July, October and January. The term “Fiscal Quarter Date” is used in the Korean Export Credit Facility to indicate the dates on which amortization payments are due. Prior to entry into the Amendment, “Fiscal Quarter Date” was defined as March 31, June 30, September 30 and December 31.


About GENER8 MARITIME, INC. (OTCBB:GMRRQ)

Gener8 Maritime, Inc., formerly General Maritime Corporation, is a provider of international seaborne crude oil transportation services. The Company operates through the segment, which includes the transportation of international seaborne crude oil and petroleum products with its fleet of vessels. The Company owns a fleet of over 45 tankers, including 31 vessels on the water consisting of 14 Very Large Crude Carriers (VLCCs), approximately 11 Suezmax vessels, over four Aframax vessels and approximately two Panamax vessels with an aggregate carrying capacity of approximately 6.6 million deadweight tons. The Company’s vessels are primarily available for charter on a spot voyage or time charter basis and for employment in commercial pools. Its fleet of vessels include Gener8 Zeus, Gener8 Neptune, Gener8 Ares, Gener8 Hera, Gener8 Harriet G, Gener8 Horn, Gener8 Daphne, Gener8 Elektra, Gener8 Companion, Gener8 Compatriot, Gener8 Spyridon, Gener8 Kara G, Gener8 Maniate and others.

GENER8 MARITIME, INC. (OTCBB:GMRRQ) Recent Trading Information

GENER8 MARITIME, INC. (OTCBB:GMRRQ) closed its last trading session at 0.0042 with shares trading hands.