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