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EXHIBIT 10.23
 EXECUTION COPY
 Second Amended and Restated Guaranty
 This Second Amended and Restated Guaranty Guaranty , Holdings , Parent U.S. Borrower Section 24 (Additional Guarantors) Subsidiary Guarantor Guarantors Guarantor CNAI Administrative Agent Guarantied Party Guarantied Parties
 W i t n e s s e t h:
 Whereas Existing Administrative Agent Existing Credit
Agreement
 Whereas
 Whereas, Luxembourg Borrower Borrowers  
 Whereas Administrative Agent Deutsche Bank Securities Inc. Deutsche Bank Syndication Agent CNAI Documentation Agent Credit Agreement
 Whereas




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Second Amended and Restated Guaranty  HLI Operating Company, Inc.  Hayes Lemmerz Finance-Luxembourg S.C.A.
 Whereas Existing Guaranty
 Whereas
 Whereas
 Now, therefore,
 Section 1 Guaranty
   2




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Second Amended and Restated Guaranty  HLI Operating Company, Inc.  Hayes Lemmerz Finance-Luxembourg S.C.A.
  Section 2 Limitation of Guaranty
 Fraudulent Transfer Laws Section 3 (Contribution)
 Section 3 Contribution
  Section 4 Authorization; Other Agreements
   3




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Second Amended and Restated Guaranty  HLI Operating Company, Inc.  Hayes Lemmerz Finance-Luxembourg S.C.A.
           4




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Second Amended and Restated Guaranty  HLI Operating Company, Inc.  Hayes Lemmerz Finance-Luxembourg S.C.A.
 Section 5 Guaranty Absolute and Unconditional
              5




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Second Amended and Restated Guaranty  HLI Operating Company, Inc.  Hayes Lemmerz Finance-Luxembourg S.C.A.
   Section 6 Waivers
  Section 7 Reliance
  Section 8 Waiver of Subrogation and Contribution Rights
  Section 9 Subordination
 Guarantor
 6




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Second Amended and Restated Guaranty  HLI Operating Company, Inc.  Hayes Lemmerz Finance-Luxembourg S.C.A.
 Subordinated Debt Section 8.6 (Prepayment and Cancellation of Indebtedness)
 7




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Second Amended and Restated Guaranty  HLI Operating Company, Inc.  Hayes Lemmerz Finance-Luxembourg S.C.A.
 Section 10 Default; Remedies
  Section 11 Irrevocability
  Section 12 Setoff
  Section 13 No Marshalling
  Section 14 Enforcement; Amendments; Waivers
  8




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Second Amended and Restated Guaranty  HLI Operating Company, Inc.  Hayes Lemmerz Finance-Luxembourg S.C.A.
 Section 11.1 (Amendments, Waivers, Etc.
 Section 15 Amendment and Restatement; Effectiveness
  Default Event of Default
  9




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Second Amended and Restated Guaranty  HLI Operating Company, Inc.  Hayes Lemmerz Finance-Luxembourg S.C.A.
 Existing Loan Documents
  mutatis mutandis
 Section 16 Successors and Assigns
  Section 17 Representations and Warranties; Covenants
 Article IV (Representations and Warranties) Section 3. 2(b)(i) (Conditions Precedent to Each
Loan and Letter of Credit)
 Section 18 Governing Law
  Section 19 Submission to Jurisdiction; Service of Process
  10




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Second Amended and Restated Guaranty  HLI Operating Company, Inc.  Hayes Lemmerz Finance-Luxembourg S.C.A.
 forum non conveniens .
 Section 11.8 (Notices, Etc.
 Section 19 (Submission to Jurisdiction; Service of Process)
  Section 20 Certain Terms
 herein hereof hereto hereunder including including without limitation
 Section 21 Waiver of Jury Trial
 Each of the Administrative Agent, the other Guarantied Parties and each Guarantor
irrevocably waives trial by jury in any action or proceeding with respect to this Guaranty and any
other Loan Document.
 11




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Second Amended and Restated Guaranty  HLI Operating Company, Inc.  Hayes Lemmerz Finance-Luxembourg S.C.A.
 Section 22 Notices
 Section 11.8 (Notices, Etc.)
 Section 23 Severability
  Section 24 Additional Guarantors
 Section 7. 11(c) (Additional Collateral and
Guaranties) Exhibit A (Guaranty
Supplement)
 Section 25 Collateral
  Section 26 Costs and Expenses
  Section 27 Waiver of Consequential Damages
 Each Guarantor hereby irrevocably and unconditionally waives, to the maximum extent not
prohibited by law, any right it may have to claim or recover any special, exemplary, punitive or
consequential damage in any legal action or proceeding in respect of this Guaranty or any other
Loan Document.
 12




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Second Amended and Restated Guaranty  HLI Operating Company, Inc.  Hayes Lemmerz Finance-Luxembourg S.C.A.
 Section 28 Entire Agreement
  [Signature Pages Follow]
 13




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In Witness Whereof
 GUARANTORS:Hayes Lemmerz International, Inc.HLI Parent Company, Inc.HLI Operating Company, Inc.Hayes Lemmerz Finance LLCHayes Lemmerz InternationalCalifornia, Inc.Hayes Lemmerz InternationalCommercial Highway, Inc.Hayes Lemmerz InternationalGeorgia, Inc.Hayes Lemmerz International  Homer, Inc.Hayes Lemmerz International  Howell, Inc.Hayes Lemmerz InternationalHuntington, Inc.Hayes Lemmerz InternationalKentucky, Inc.Hayes Lemmerz InternationalLaredo, Inc.Hayes Lemmerz InternationalSedalia, Inc.Hayes Lemmerz International  Technical Center, Inc.Hayes Lemmerz InternationalWabash, Inc.Hayes Lemmerz International Import, Inc.HLI Brakes Holding Company, Inc.HLI Commercial Highway Holding Company, Inc.HLI Powertrain Holding Company, Inc.HLI Realty, Inc.HLI Services Holding Company, Inc.HLI Suspension Holding Company, Inc.HLI Wheels Holding Company, Inc.By:Name:Title:
 [Signature Page to Second Amended and Restated Guaranty]




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Acknowledged and Agreed

as of the date first above written:Citicorp North America, Inc.,as Administrative AgentBy:Name:Title:
 [Signature Page to Second Amended and Restated Guaranty]




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Second Amended and Restated Guaranty  HLI Operating Company, Inc.
 Exhibit A  to  Second Amended and Restated Guaranty
 Form of Guaranty Supplement
 Guaranty Section 17 (Representations and Warranties; Covenants)
 In witness whereof
 SUBSIDIARY GUARANTORS[Name of Subsidiary Guarantor]By:NameTitle




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Second Amended and Restated Guaranty  HLI Operating Company, Inc.
 Acknowledged and Agreedas of the date first above written:Citicorp North America, Inc.as Administrative AgentBy:Name:Title:Deutsche Bank Securities Inc.as Syndication AgentBy:Name:Title:
 [Signature Page to Second Amended and Restated Guaranty]