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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
Current
Report
Pursuant
to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): February 16, 2011 (February 10,
2011)
III
to I Maritime Partners Cayman I, L.P.
(Exact
name of Registrant as specified in its charter)
Cayman
Islands
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000-53656
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98-0516465
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(State
or other jurisdiction of
incorporation
or organization)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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5580
Peterson Lane
Suite
155
Dallas,
Texas
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75240
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(Address
of principal executive offices)
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(Zip
Code)
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(972)
392-5400
(Registrant’s
telephone number, including area code)
Not
applicable
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
2.03 Creation
of a Direct Financial Obligation
On
February 10 and March 5, 2010, Suresh Capital Maritime Partners Germany, GmbH
(our “German Subsidiary”) entered into four loan agreements with Reederei
Hartmann GmbH & Co. KG (“RHKG”), which is the noncontrolling interest holder
of our single purpose entities, each of which holds an anchor handling tug
supply (“AHTS”) vessel (each an “AHTS SPV”). Each of the agreements
is related to an AHTS SPV, and provides for loans equal to the remaining amount
of capital outstanding from our German Subsidiary to the AHTS SPV to which the
agreement relates (“RHKG Loan Agreements”). The total loans under the
four agreements equal $31,119,758 (EUR 22,780,000), and the four related AHTS
SPVs are Isle of Baltrum, Isle of Langeoog, Isle of Amrum, and Isle of
Wangerooge.
Each of
the RHKG Loan Agreements matures 5 years from the date of signing, with maturity
dates therefore falling in February and March 2015. Each of the
agreements calls for interest to be calculated at 6% per annum, with interest
payments being due on the day after each anniversary date of
signing. Under these agreements, approximately $874,167 (EUR 639,900)
in interest was to fall due on February 11, 2011, and $993,018 (EUR 726,900) on
March 6, 2011. On February 10, 2011, our German Subsidiary entered
into an agreement with RHKG to defer the interest due under these agreements
until April 15, 2011. The due date for the annual interest payments
under the RHKG Loan Agreements for each subsequent year is unaffected by the
deferral.
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Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
III
to I Maritime Partners Cayman I, L.P.
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(Registrant)
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By:
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III
to I International Maritime Solutions Cayman, Inc.
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Its
General Partner
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By:
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/s/
Jason M. Morton
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Jason
M. Morton
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Director
and Chief Financial Officer
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(Duly
authorized to sign this report on behalf of the
Registrant)
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Date: February
16, 2011
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