EXHIBIT 10.22
Private & Confidential
LOAN AGREEMENT
for a
Multicurrency Loan of up to $45,000,000
to
SOFFIVE SHIPPING CORPORATION
provided by
THE ROYAL BANK OF SCOTLAND plc
Contents
Clause
Page
1
Purpose and definitions
1
2
The Commitment and the Loan
9
3
Interest and Interest Periods
10
4
Currencies
12
5
Repayment and prepayment
14
6
Commitment commission, fees and expenses
16
7
Payments and taxes; accounts and calculations
18
8
Representations and warranties
19
9
Undertakings
23
10
Conditions
28
11
Events of Default
29
12
Indemnities
32
13
Unlawfulness and increased costs
33
14
Security and set-off
34
15
Accounts
36
16
Assignment, transfer and lending office
36
Contents
Clause
Page
1
Purpose and definitions
1
2
The Commitment and the Loan
9
3
Interest and Interest Periods
10
4
Currencies
12
5
Repayment and prepayment
14
6
Commitment commission, fees and expenses
16
7
Payments and taxes; accounts and calculations
18
8
Representations and warranties
19
9
Undertakings
23
10
Conditions
28
11
Events of Default
29
12
Indemnities
32
13
Unlawfulness and increased costs
33
14
Security and set-off
34
15
Accounts
36
16
Assignment, transfer and lending office
36
17
Notices and other matters
37
18
Governing law and jurisdiction
38
Schedule 1 Form of Drawdown Notice
40
Schedule 2 Documents and evidence required as conditions precedent
41
Schedule 3 Calculation of Additional Cost
45
Schedule 4 Form of Interest Period Letter
47
Schedule 5 Form of Mortgage
48
Schedule 6 Form of Deed of Covenant
49
Schedule 7 Form of