Exhibit 4.18
 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO CERTAIN PORTIONS OF THIS AGREEMENT.
CONFIDENTIAL PORTIONS HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE U.S. SECURITIES AND EXCHANGE
COMMISSION.
    AMENDED AND RESTATED CREDIT AGREEMENT
   SIMS GROUP USA HOLDINGS CORPORATION,
  CERTAIN AFFILIATES
  BANK OF AMERICA, N.A.
  
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TABLE OF CONTENTS
 Section
    
    PageARTICLE I. DEFINITIONS AND ACCOUNTING TERMS
    
    
    21.01 Defined Terms
    
    
    21.02 Other Interpretive Provisions
    
    
    191.03 Accounting Terms
    
    
    201.04 Exchange Rates; Currency Equivalents
    
    
    201.05 Additional Alternative Currencies
    
    
    211.06 Change of Currency
    
    
    211.07 Times of Day
    
    
    221.08 Letter of Credit Amounts
    
    
    22ARTICLE II. THE COMMITMENT AND CREDIT EXTENSIONS
    
    
    222.01 Loans
    
    
    222.02 Borrowings, Conversions and Continuations of Loans
    
    
    222.03 Letters of Credit
    
    
    242.04 Prepayments
    
    
    292.05 Termination or Reduction of Commitment
    
    
    302.06 Repayment of Loans
    
    
    302.07 Interest
    
    
    302.08 Fees
    
    
    312.09 Computation of Interest and Fees
    
    
    312.10 Evidence of Debt
    
    
    312.11 Payments Generally
    
    
    322.12 Designated Borrowers
    
    
    322.13 Extension of Maturity Date
    
    
    33ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY
    
    
    333.01 Taxes
    
    
    333.02 Illegality
    
    
    343.03 Inability to Determine Rates
    
    
    353.04 Increased Costs; Reserves on Eurocurrency Rate Loans
    
    
    363.05 Compensation for Losses
    
    
    373.06 Survival
    
    
    38ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
    
    
    384.01 Conditions of Initial Credit Extension
    
    
    384.02 Conditions to all Credit Extensions
    
    
    39ARTICLE V. REPRESENTATIONS AND WARRANTIES
    
    
    405.01 Existence, Qualification and Power
    
    
    405.02 Authorization; No Contravention
    
    
    415.03 Governmental Authorization; Other Consents
    
    
    415.04 Binding Effect
    
    
    415.05 Litigation
    
    
    415.06 No Default
    
    
    415.07 Ownership of Property; Liens
    
    
    415.08 Environmental Compliance
    
    
    415.09 ERISA Compliance
    
    
    415.10 Subsidiaries; Equity Interests
    
    
    42
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Section
    
    Page5.11 Margin Regulations; Investment Company Act; Public Utility Holding Company Act
    
    
    425.12 Disclosure
    
    
    435.13 Compliance with Laws
    
    
    435.14 Taxpayer Identification Number; Other Identifying Information
    
    
    435.15 No Filing or Stamp Taxes
    
    
    435.16 Taxation
    
    
    435.17 Pari Passu
    
    
    435.18 Governing Law and Enforcement
    
    
    435.19 Not a Trustee
    
    
    435.20 Commercial Benefit
    
    
    445.21 Full Disclosure
    
    
    445.22 Litigation
    
    
    445.23 Representations True
    
    
    445.24 Latest Audited Financial Statements; No Material Adverse Effect
    
    
    44ARTICLE VI. AFFIRMATIVE COVENANTS
    
    
    446.01 Information
    
    
    446.02 Notices
    
    
    446.03 Payment of Obligations
    
    
    456.04 Preservation of Existence, Etc
    
    
    456.05 Maintenance of Properties; Conduct of Business; Insurance
    
    
    456.06 Compliance with Laws
    
    
    466.07 Books and Records
    
    
    466.08 Use of Proceeds
    
    
    466.09 Most Favored Nations Status
    
    
    46ARTICLE VII. NEGATIVE COVENANTS
    
    
    477.01 Liens
    
    
    477.02 Fundamental Changes
    
    
    477.03 Dispositions
    
    
    477.04 Change in Nature of Business
    
    
    477.05 Finance Debt
    
    
    477.06 Use of Proceeds
    
    
    487.07 Negative Pledge
    
    
    487.08 Swap Contracts
    
    
    48ARTICLE VIII. CROSS-GUARANTY
    
    
    488.01 Cross-Guaranty
    
    
    488.02 Limitation of Liability
    
    
    498.03 Liability of Borrowers Absolute
    
    
    498.04 Waivers by Borrowers
    
    
    508.05 Borrowers Rights of Subrogation, Contribution, Etc
    
    
    518.06 Continuing Guaranty; Reinstatement of Guaranty
    
    
    528.07 Indemnity and Contribution
    
    
    528.08 Liability Cumulative
    
    
    53ARTICLE IX. EVENTS OF DEFAULT AND REMEDIES
    
    
    539.01 Events of Default
    
    
    539.02 Remedies Upon Event of Default
    
    
    579.03 Application of Funds
    
    
    589.04 Review Event
    
    
    58ARTICLE X. MISCELLANEOUS
    
    
    58
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Section
    
    Page10.01 Amendments, Etc
    
    
    5810.02 Notices; Effectiveness; Electronic Communication
    
    
    5810.03 No Waiver; Cumulative Remedies
    
    
    5910.04 Expenses; Indemnity; Damage Waiver
    
    
    5910.05 Payments Set Aside
    
    
    6110.06 Successors and Assigns
    
    
    6110.07 Treatment of Certain Information; Confidentiality
    
    
    6310.08 Right of Setoff
    
    
    6410.09 Interest Rate Limitation
    
    
    6410.10 Counterparts; Integration; Effectiveness
    
    
    6410.11 Survival of Representations and Warranties
    
    
    6410.12 Severability
    
    
    6510.13 Governing Law; Jurisdiction; Etc
    
    
    6510.14 Waiver of Jury Trial
    
    
    6610.15 USA PATRIOT Act Notice
    
    
    6610.16 Time of the Essence
    
    
    6610.17 Judgment Currency
    
    
    6610.18 Amendment and Restatement
    
    
    67SCHEDULES1.01 Mandatory Cost Formulae5.12 Subsidiaries; Other Equity Investments10.02 Lenders Office; Certain Addresses for NoticesEXHIBITSForm ofA            Loan NoticeB            NoteC            GuarantyD            Designated Borrower Request and Assumption AgreementE            Designated Borrower Notice
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AMENDED AND RESTATED CREDIT AGREEMENT
 Agreement Company Global
Trade HNE Recycling HNW Recycling SHN East SHN West Sims USA Metal Management MM Dynamics MM
Ohio SMM  North America MM West Coast MM Proler Southwest MM Southwest GP Naporano MM Northeast MM New
Haven MM Alabama MM Arizona MM Connecticut MM Indiana MM Memphis MM
Mississippi MM
Pittsburgh MM West NY Recycling Proler Southwest Reserve Metal Dynamics MD Detroit MD Indianapolis
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Section 2.12 Designated
Borrowers Borrowers Borrower Lender
 Prior Credit
Agreement
   ARTICLE I.
DEFINITIONS AND ACCOUNTING TERMS
 1.01 Defined Terms.
 Affiliate
 Agreement
 Alternative Currency Section 1.05
 Alternative Currency Equivalent
 Alternative Currency Reserve
 Applicable Margin Section 5.02(a)
 Applicable Margin
 EurocurrencyRate LoansStandbyCashflow Gearing
    
    Commitment
    
    Letters of
    
    Base RatePricing Level
    
    Ratio
    
    Fee
    
    Credit
    
    Loans[*]
    
    [*]
    
    [*]
    
    [*]
    
    [*]
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Section 5.02(a) provided however
 Applicable Time
 Applicant Borrower Section 2.12
 Approved Fund
 Attributable Indebtedness
 Australian Dollar AU$
 Availability Period
 Base Rate [*]
 Base Rate Loan
 Borrower Borrowers
 Business Day
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Cash Collateralize Section 2.03(f)
 Cashflow Gearing Ratio Section 5.10(b)
 Change in Law
 Change of Control
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Closing Date Section
4.01
 Code
 Commitment
 Company
 Compliance Certificate Exhibit A
 Contractual Obligation
 Control
 Corporations Act
 Credit Extension
 Debtor Relief Laws
 Default
 Default Rate plus plus [*] provided however plus [*] plus [*]
 Designated Borrower
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Designated Borrower Notice Section 2.12
 Designated Borrower Request and Assumption Agreement Section 2.12
 Disposition
 Dollar $
 Dollar Equivalent
 Domestic Affiliate
 Eligible Assignee provided
 EMU
 EMU Legislation
 Environmental Laws
 Environmental Liability
 [*] Confidential Treatment Requested
 6




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Equity Interests
 ERISA
 ERISA Affiliate
 ERISA Event
 Euro EUR
 Eurocurrency Fixed Rate BBA LIBOR
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Eurocurrency Fixed Rate Loan
 Eurocurrency Floating Rate BBA LIBOR
 Eurocurrency Floating Rate Loan
 Eurocurrency Rate
 Eurocurrency Rate Loan
 Eurocurrency Unavailability Period Section 3.02 Section 3.03
 Event of Default Section 9.01
 Excluded Taxes
 [*] Confidential Treatment Requested
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Federal Funds Rate provided
 Finance Debt
     FRB
 Fund
 GAAP
 Governmental Authority
 Guarantee
 [*] Confidential Treatment Requested
 9




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Guaranty Exhibit C
 Hazardous Materials
 Honor Date Section 2.03(c)(i)
 Indebtedness
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 10




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plus
   Indemnified Taxes
 Indemnitees Section 10.04(b)
 Information Section 10.07
 Intangible Assets
 Interest Payment Date provided however
 Interest Period [*] provided
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 11




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Investment
 IRS
 ISP
 Issuer Documents
 Laws
 L/C Credit Extension
 L/C Obligations plus Section 1.08
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Lending Office Schedule 10.02
 Letter of Credit
 Letter of Credit Application
 Letter of Credit Expiration Date
 Letter of Credit Fee Section 2.03(h)
 Letter of Credit Sublimit
 Lien
 Loan Section 2.01
 Loan Documents
 Loan Notice Section 2.02(a) Exhibit A
 Loan Parties
 Mandatory Cost Schedule 1.01
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 13




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Material Adverse Effect
 Material Credit Agreements
 Maturity Date provided however
 Multiemployer Plan
 Note Exhibit B
 Obligations
 Organization Documents
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 14




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Other Taxes
 Outstanding Amount
 Parent
 Participant Section 10.06(c)
 Participating Member State
 PBGC
 Pension Plan
 Permitted Finance Debt
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Person
 Plan
 Prime Rate
 Related Parties
 Relevant Company
 Reportable Event
 Request for Credit Extension
 Responsible Officer Article II
 Revaluation Date Section 2.02
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Same Day Funds
 SEC
 Sims Group
 Special Notice Currency
 Spot Rate
 http://www.ny.frb.org/markets/fxrates/tenAm.cfm provided
 provided provided further
 Sterling £
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 17




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Subsidiary
 Swap Contract
 Swap Termination Value
 Synthetic Lease Obligation
 TARGET Day
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 18




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Taxes
 Threshold Amount
 Total Outstandings
 Type
 Unfunded Pension Liability
 United States U.S.
 Unreimbursed Amount Section 2.03(c)(i)
 Yen ¥
 1.02 Other Interpretive Provisions.
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 19




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1.03 Accounting Terms.
 Generally
 Changes in GAAP provided
 1.04 Exchange Rates; Currency Equivalents.
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Section 7.05
 1.05 Additional Alternative Currencies.
 provided
 [*]
 Section 2.02 Section 2.03
 1.06 Change of Currency.
 provided
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1.07 Times of Day.
 1.08 Letter of Credit Amounts. provided however
 ARTICLE II.
THE COMMITMENT AND CREDIT EXTENSIONS
 2.01 Loans. Loan provided however provided further Section 2.01 Section 2.04 Section 2.01
 2.02 Borrowings, Conversions and Continuations of Loans.
 [*] [*] [*] Section 2.02(a) [*] Section 2.03(c) [*]
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provided however [*]
 Section 4.02 Section 4.01 provided however
  provided however
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2.03 Letters of Credit.
 The Letter of Credit Commitment
 provided provided further
    [*]
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Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of
Credit
 [*] [*] [*]
  Auto-Extension Letter of Credit provided provided however
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 25




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Section 2.03(a)
  Drawings and Reimbursements
 [*] [*] Honor Date [*] Unreimbursed Amount Section 2.02 Section 4.02
  Obligations Absolute
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Role of Lender provided however Section 2.03(c)(ii) provided however
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 27




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Cash Collateral
  [*] [*]
  Sections 2.04 9.02(a)(iii) Section 2.03 Section
2.04 Section 9.02(a)(iii) Cash Collateralize
 Applicability of ISP and UCP
 Letter of Credit Fees Letter of Credit Fee [*] [*] Section 1.08 [*]
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 28




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Documentary and Processing Charges Payable to Lender
 Conflict with Issuer Documents
 Letters of Credit Issued for Designated Borrowers
 2.04 Prepayments.
 provided [*] [*] [*] [*] [*] [*] [*] [*]
 [*] [*] provided however Section 2.03(f)(ii) Section 2.04(b) [*]
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 29




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2.05 Termination or Reduction of Commitment. provided [*] [*] [*] [*]
 2.06 Repayment of Loans.
 2.07 Interest.
 plus plus plus plus plus
   Sections 9.01(a) (i) (j)
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 30




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2.08 Fees Section 2.03
 Commitment Fee times Article IV
 Other Fees
 2.09
Computation of Interest and Fees provided Section 2.11
 2.10 Evidence of Debt.
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2.11 Payments Generally.
 2.12 Designated Borrowers.
  Applicant Borrower Exhibit D Designated Borrower Request and Assumption
Agreement Exhibit E Designated Borrower Notice provided
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 32




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Section 2.12
 provided
 2.13 Extension of Maturity Date.
 Requests for Extension [*] Maturity Anniversary Date Existing Maturity Date
 Lender Election to Extend Notice Date [*]
 ARTICLE III.
TAXES, YIELD PROTECTION AND ILLEGALITY
 3.01 Taxes.
 Payments Free of Taxes provided
 [*] Confidential Treatment Requested
 33




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Payment of Other Taxes by the Borrowers
 Indemnification by the Borrowers provided
 Evidence of Payments
 Treatment of Certain Refunds provided plus provided however
 3.02 Illegality.
 [*] Confidential Treatment Requested
 34




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3.03 Inability to Determine Rates.
 Eurocurrency Floating Rate
 Eurocurrency Fixed Rate
 [*] Confidential Treatment Requested
 35




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3.04 Increased Costs; Reserves on Eurocurrency Rate Loans.
 Increased Costs Generally
 Section 3.04(e)
 Section 3.01
    Capital Requirements
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 36




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Certificates for Reimbursement
 Delay in Requests provided
 Additional Reserve Requirements Eurocurrency liabilities provided
 3.05 Compensation for Losses.
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 37




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Section 3.05
 3.06 Survival. Article III
 ARTICLE IV.
CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
 4.01 Conditions of Initial Credit Extension.
      [*] Confidential Treatment Requested
 38




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Section 5.10
 Sections 4.02(a) (b)
   plus provided
  4.02 Conditions to all Credit Extensions.
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 39




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Article V Article IV Section 4.02 Section 4.06 Section 5.01
   Section
2.12
  Sections 4.02(a) (b)
 ARTICLE V.
REPRESENTATIONS AND WARRANTIES
  5.01 Existence, Qualification and Power.
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5.02 Authorization; No Contravention.
 5.03 Governmental Authorization; Other Consents.
 5.04 Binding Effect.
 5.05 Litigation.
 5.06 No Default.
 5.07 Ownership of Property; Liens. Section
7.01
 5.08 Environmental Compliance.
 5.09 ERISA Compliance.
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5.10 Subsidiaries; Equity Interests. Schedule 5.10 Schedule 5.10 Schedule 5.10 Schedule 5.10
 5.11 Margin Regulations; Investment Company Act; Public Utility Holding Company Act.
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5.12 Disclosure.
 5.13 Compliance with Laws.
 5.14 Taxpayer Identification Number; Other Identifying Information. Schedule 10.02
 5.15 No Filing or Stamp Taxes.
 5.16 Taxation.
 5.17 Pari Passu. pari passu
 5.18 Governing Law and Enforcement.
   5.19 Not a Trustee.
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5.20 Commercial Benefit.
 5.21 Full Disclosure.
 5.22 Litigation.
 5.23 Representations True.
 5.24 Latest Audited Financial Statements; No Material Adverse Effect.
   ARTICLE VI.
AFFIRMATIVE COVENANTS
  6.01 Information.
 6.02 Notices.
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 44




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Section 6.02 Section 6.02(a)
 6.03 Payment of Obligations.
 6.04 Preservation of Existence, Etc. Section 7.02 7.03
 6.05 Maintenance of Properties; Conduct of Business; Insurance.
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6.06 Compliance with Laws.
       6.07 Books and Records.
 6.08 Use of Proceeds.
 6.09 Most Favored Nations Status. Borrower MFN Notice
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 46




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Lender MFN Notice
 ARTICLE VII.
NEGATIVE COVENANTS
  7.01 Liens. Section
6.01
 7.02 Fundamental Changes.
 7.03 Dispositions. Section 6.03
 7.04 Change in Nature of Business.
 7.05 Finance Debt.
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 47




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7.06 Use of Proceeds.
 7.07 Negative Pledge.
   7.08 Swap Contracts.
   ARTICLE VIII.
CROSS-GUARANTY
 8.01 Cross-Guaranty. Section 8.02
 [*] Confidential Treatment Requested
 48




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##### 



Bankruptcy Code
 8.02 Limitation of Liability. Article VIII Fraudulent Transfer Laws
 8.03 Liability of Borrowers Absolute.
     [*] Confidential Treatment Requested
 49




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8.04 Waivers by Borrowers.
  [*] Confidential Treatment Requested
 50




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Article VIII
 Section 8.03
 Article VIII
 8.05 Borrowers Rights of Subrogation, Contribution, Etc. Article VIII
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 51




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8.06 Continuing Guaranty; Reinstatement of Guaranty.
  Article VIII
 8.07 Indemnity and Contribution. Section 8.07 Contributing Party Section 8.05 Article VIII Section 8.07 Claiming Party Section 2.12 Section 2.12
 [*] Confidential Treatment Requested
 52




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8.08 Liability Cumulative. Article VIII
 ARTICLE IX.
EVENTS OF DEFAULT AND REMEDIES
 9.01 Events of Default.
 Non-Payment
 Specific Covenants Section 6.01 6.04 6.08 Article VII 5.01 5.02 5.03 5.05 5.10 Article VI
 Other Defaults
 Representations and Warranties Article V Article IV
 Material Credit Agreements
 Cross-Default
  [*] Confidential Treatment Requested
 53




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Change of Control
 Material Adverse Effect
 Insolvency Proceedings, Etc
 Inability to Pay Debts; Attachment
 Judgments
       [*] Confidential Treatment Requested
 54




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ERISA
 Invalidity of Loan Documents
 Cancellation of Commitment
 Encumbrance
 Suspends Payments
 Unenforceability
 Environmental
 [*] Confidential Treatment Requested
 55




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Governmental interference
 Seizure
 Investigation
 Deregistration.
 ASX delisting/Suspension
          [*] Confidential Treatment Requested
 56




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Ceasing Business
 9.02 Remedies Upon Event of Default.
 Remedies Generally
     provided however
 Borrower Agreement
   Standstill Period
 Section
5.10 Sections 9.01(c) 9.01(d) 9.01(f) 9.01(n) 9.01(q) 9.01(x)
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 57




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Section
9.01(x)
 9.03 Application of Funds. Section 9.02 Section 9.02(a)
 9.04 Review Event Listing Review Period
 ARTICLE X.
MISCELLANEOUS
 10.01 Amendments, Etc.
 10.02 Notices; Effectiveness; Electronic Communication.
 Notices Generally Schedule
10.02
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Electronic Communications provided Article II provided
 provided
 Change of Address, Etc
 Reliance by Lender
 10.03 No Waiver; Cumulative Remedies.
 10.04 Expenses; Indemnity; Damage Waiver.
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 59




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Costs and Expenses
 Indemnification by the Company Indemnitee provided
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 60




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Waiver of Consequential Damages, Etc
 Payments
 Survival
 10.05 Payments Set Aside.
 10.06 Successors and Assigns.
 Successors and Assigns Generally
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 61




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Assignments by Lender Sections 3.01 3.04 3.05 10.04 10.05
 Participations Participant provided provided Sections 3.01 3.04 3.05 Section 10.08
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 62




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Limitations Upon Participant Rights Sections 3.01 3.04 Section 3.01
 Certain Pledges provided
 10.07 Treatment of Certain Information; Confidentiality.
 provided
 [*] Confidential Treatment Requested
 63




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10.08 Right of Setoff. provided
 10.09 Interest Rate Limitation. Maximum Rate
 10.10 Counterparts; Integration; Effectiveness. Section 4.01
 10.11 Survival of Representations and Warranties.
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 64




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10.12 Severability.
 10.13 Governing Law; Jurisdiction; Etc.
 GOVERNING LAW
 SUBMISSION TO JURISDICTION
 WAIVER OF VENUE
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 65




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SERVICE OF PROCESS SECTION 10.02
 10.14 Waiver of Jury Trial.
 10.15 USA PATRIOT Act Notice. Act
 10.16 Time of the Essence.
 10.17 Judgment Currency. Judgment Currency Agreement Currency
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 66




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10.18 Amendment and Restatement.
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 67




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IN WITNESS WHEREOF
 SIMS GROUP USA HOLDINGS CORPORATION, formerly known
as Sims Hugo Neu CorporationBy:Name:Title:SIMS GROUP GLOBAL TRADE CORPORATION, successor by
merger to Sims Hugo Neu Global Trade LLCBy:Name:Title:HNE RECYCLING LLCBy:Name:Title:HNW RECYCLING LLCBy:Name:Title:
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 68




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SIMSMETAL EAST LLC, successor to Sims Hugo Neu East
(General Partnership)By:Name:Title:SIMSMETAL WEST LLC, successor to Sims Hugo Neu West
(General Partnership)By:Name:Title:SIMS GROUP USA CORPORATIONBy:Name:Title:METAL MANAGEMENT, INC.By:Name:Title:MM METAL DYNAMICS HOLDINGS, INC.By:Name:Title:
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 69




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METAL MANAGEMENT MIDWEST, INC.By:Name:Title:METAL MANAGEMENT OHIO, INC.By:Name:Title:SMM  NORTH AMERICA TRADE CORPORATION, formerly
known as Metal Management S&A Holdings, Inc.By:Name:Title:METAL MANAGEMENT WEST COAST HOLDINGS, INC.By:Name:Title:METAL MANAGEMENT PROLER SOUTHWEST, INC.By:Name:Title:
 [*] Confidential Treatment Requested
 70




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PROLER SOUTHWEST GP, INC.By:Name:Title:NAPORANO IRON & METAL, INC.By:Name:Title:METAL MANAGEMENT NORTHEAST, INC.By:Name:Title:METAL MANAGEMENT NEW HAVEN, INC.By:Name:Title:CIM TRUCKING, INC.By:Name:Title:
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 71




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METAL MANAGEMENT ALABAMA, INC.By:Name:Title:METAL MANAGEMENT ARIZONA, L.L.C.By:Name:Title:METAL MANAGEMENT CONNECTICUT, INC.By:Name:Title:METAL MANAGEMENT INDIANA, INC.By:Name:Title:METAL MANAGEMENT MEMPHIS, L.L.C.By:Name:Title:
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 72




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METAL MANAGEMENT MISSISSIPPI, INC.By:Name:Title:METAL MANAGEMENT PITTSBURGH, INC.By:Name:Title:METAL MANAGEMENT WEST, INC.By:Name:Title:NEW YORK RECYCLING VENTURES, INC.By:Name:Title:PROLER SOUTHWEST LPBy:Name:Title:
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 73




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RESERVE IRON & METAL LIMITED PARTNERSHIPBy:Name:Title:METAL DYNAMICS LLCBy:Name:Title:METAL DYNAMICS DETROIT LLCBy:Name:Title:METAL DYNAMICS INDIANAPOLIS LLCBy:Name:Title:BANK OF AMERICA, N.A.By:Name:Title:
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 74




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SCHEDULE 1.01
 MANDATORY COST FORMULAE
 1.
    
    The Mandatory Cost (to the extent applicable) is an addition to the interest rate to
compensate the Lender for the cost of compliance with:
 (a)
    
    the requirements of the Bank of England and/or the Financial Services Authority
(or, in either case, any other authority which replaces all or any of its functions);
or(b)
    
    the requirements of the European Central Bank.
 2.
    
    On the first day of each Interest Period (or as soon as possible thereafter) the Lender shall
calculate, as a percentage rate, a rate (the Additional Cost Rate) in accordance
with the paragraphs set out below. The Mandatory Cost will be calculated by the Lender as a
weighted average of the Lenders Additional Cost Rates and will be expressed as a percentage
rate per annum. The Lender will, at the request of the Company, deliver to the Company a
statement setting forth the calculation of any Mandatory Cost.3.
    
    The Additional Cost Rate for the Lender lending from a Lending Office in a Participating
Member State will be its reasonable determination of the cost (expressed as a percentage of
the Lenders participation in all Loans made from such Lending Office) of complying with the
minimum reserve requirements of the European Central Bank in respect of Loans made from that
Lending Office.4.
    
    The Additional Cost Rate for the Lender lending from a Lending Office in the United Kingdom
will be calculated by the Lender as follows:
 (a)
    
    in relation to any Loan in Sterling:
 
 (b)
    
    in relation to any Loan in any currency other than Sterling:
 
  A
    
    is the percentage of Eligible Liabilities (assuming these to be in excess of
any stated minimum) which that the Lender is from time to time required to maintain as
an interest free cash ratio deposit with the Bank of England to comply with cash ratio
requirements.B
    
    is the percentage rate of interest (excluding the Applicable Margin, the
Mandatory Cost and any interest charged on overdue amounts pursuant to the first
sentence
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of Section 2.07(b) and, in the case of interest (other than on overdue
amounts) charged at the Default Rate, without counting any increase in interest rate
effected by the charging of the Default Rate) payable for the relevant Interest
Period of such Loan.C
    
    is the percentage (if any) of Eligible Liabilities which that the Lender is
required from time to time to maintain as interest bearing Special Deposits with the
Bank of England.D
    
    is the percentage rate per annum payable by the Bank of England to the Lender
on interest bearing Special Deposits.E
    
    is designed to compensate the Lender for amounts payable under the Fees Rules
and is calculated by the Lender as being the average of the most recent rates of charge
supplied by the Lenders pursuant to paragraph 7 below and expressed in pounds per
£1,000,000.
 5.
    
    For the purposes of this Schedule:
 (a)
    
    Eligible Liabilities and Special Deposits have the meanings given to them
from time to time under or pursuant to the Bank of England Act 1998 or (as may be
appropriate) by the Bank of England;(b)
    
    Fees Rules means the rules on periodic fees contain in the FSA Supervision
Manual or such other law or regulation as may be in force from time to time in respect
of the payment of fees for the acceptance of deposits;(c)
    
    Fee Tariffs means the fee tariffs specified in the Fees Rules under the
activity group A.1 Deposit acceptors (ignoring any minimum fee or zero rated fee
required pursuant to the Fees Rules but taking into account any applicable discount
rate); and(d)
    
    Tariff Base has the meaning given to it in, and will be calculated in
accordance with, the Fees Rules.
 6.
    
    In application of the above formulae, A, B, C and D will be included in the formulae as
percentages (i.e. 5% will be included in the formula as 5 and not as 0.05). A negative result
obtained by subtracting D from B shall be taken as zero. The resulting figures shall be
rounded to four decimal places.7.
    
    If requested by the Company, the Lender shall, as soon as practicable after publication by
the Financial Services Authority, supply to the Company, the rate of charge payable by the
Lender to the Financial Services Authority pursuant to the Fees Rules in respect of the
relevant financial year of the Financial Services Authority (calculated for this purpose by
the Lender as being the average of the Fee Tariffs applicable to the Lender for that financial
year) and expressed in pounds per £1,000,000 of the Tariff Base of the Lender.
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8.
    
    The Lender shall supply any information required for the purpose of calculating its
Additional Cost Rate. In particular, but without limitation, the Lender shall supply the
following information in writing:
 (a)
    
    the jurisdiction of the Lending Office out of which it is making available its
participation in the relevant Loan; and(b)
    
    any other information reasonably required for such purpose.
 9.
    
    The percentages of the Lender for the purpose of A and C above and the rates of charge of the
Lender for the purpose of E above shall be determined based upon the information supplied
pursuant to paragraphs 7 and 8 above and on the assumption that, the Lenders obligations in
relation to cash ratio deposits and Special Deposits are the same as those of a typical bank
from its jurisdiction of incorporation with a Lending Office in the same jurisdiction as its
Lending Office.10.
    
    Any determination by the Lender pursuant to this Schedule in relation to a formula, the
Mandatory Cost, an Additional Cost Rate or any amount payable to the Lender shall, in the
absence of manifest error, be conclusive and binding on all parties hereto.11.
    
    The Lender may from time to time, after consultation with the Company, determine and notify
to all parties any amendments which are required to be made to this Schedule in order to
comply with any change in law, regulation or any requirements from time to time imposed by the
Bank of England, the Financial Services Authority or the European Central Bank (or, in any
case, any other authority which replaces all or any of its functions) and any such
determination shall, in the absence of manifest error, be conclusive and binding on all
parties hereto.
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SCHEDULE 5.12
 SUBSIDIARIES, OTHER EQUITY INVESTMENTS
AND EQUITY INTERESTS IN THE BORROWERS
 Subsidiaries
 Borrower
    
    Subsidiary
    
    Ownership of Subsidiaries1.
    
    Sims Group USA Holdings
    
    SHN Co., LLC
    
    Sims Group USA HoldingsCorporation
    
    
    
    Corporation (100%)HNE Recycling LLC
    
    Sims Group USA HoldingsCorporation (100%)Sims Group USA Corporation
    
    Sims Group USA HoldingsCorporation (100%)HNW Recycling LLC
    
    SHN Co., LLC (100%)Sims Group Global Trade
    
    HNE Recycling LLC (100%)CorporationSimsmetal West LLC
    
    HNW Recycling LLC (50%),HNE Recycling LLC (50%)Simsmetal East LLC
    
    HNW Recycling LLC (50%),HNE Recycling LLC (50%)Dover Barge Company
    
    HNW Recycling LLC (50%),HNE Recycling LLC (50%)North Carolina Resource
    
    HNW Recycling LLC (50%),Conservation LLC
    
    HNE Recycling LLC (50%)Schiabo Larovo Corporation
    
    Simsmetal East LLC (100%)2.
    
    Sims Group Global Trade
Corporation
    
    None
    
    N/A3.
    
    HNE Recycling LLC
    
    Sims Group Global Trade
Corporation
    
    HNE Recycling LLC (100%)4.
    
    HNW Recycling LLC
    
    None
    
    N/A5.
    
    Simsmetal East LLC
    
    Schiabo Larovo Corporation
    
    Simsmetal East LLC (100%)6.
    
    Simsmetal West LLC
    
    None
    
    N/A7.
    
    Sims Group USA Corporation
    
    None
    
    N/A8.
    
    Metal Management, Inc.
    
    MM Metal Dynamics Holdings,
Inc.
    
    Metal Management, Inc. (100%)Metal Management Midwest, Inc.
    
    Metal Management, Inc. (100%)Metal Management Ohio, Inc.
    
    Metal Management, Inc. (100%)SMM  North America Trade
Corporation
    
    Metal Management, Inc. (100%)
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Borrower
    
    Subsidiary
    
    Ownership of SubsidiariesMetal Management West Coast
Holdings, Inc.
    
    Metal Management, Inc. (100%)Metal Management Proler
Southwest, Inc.
    
    Metal Management, Inc. (100%)Proler Southwest GP, Inc.
    
    Metal Management, Inc. (100%)Naporano Iron & Metal, Inc.
    
    Metal Management, Inc. (100%)Metal Management Northeast,
Inc.
    
    Metal Management, Inc. (100%)Metal Management New Haven,
Inc.
    
    Metal Management, Inc. (100%)CIM Trucking, Inc.
    
    Metal Management Midwest,Inc. (100%)Metal Management Aerospace,
    
    SMM  North America TradeInc.
    
    Corporation (100%)Metal Management Alabama, Inc.
    
    Proler Southwest LP (100%)Metal Management Arizona,
    
    Metal Management West CoastL.L.C.
    
    Holdings, Inc. (100%)Metal Management Connecticut,
    
    Metal Management Northeast,Inc.
    
    Inc. (100%)Metal Management Indiana, Inc.
    
    Metal Management Midwest,Inc. (100%)Metal Management Memphis,
    
    Metal Management Midwest,L.L.C.
    
    Inc. (100%)Metal Management Mississippi,
Inc.
    
    Proler Southwest LP (100%)Metal Management Pittsburgh,
    
    SMM  North America TradeInc.
    
    Corporation (100%)Metal Management West, Inc.
    
    Metal Management West CoastHoldings, Inc. (100%)New York Recycling Ventures,
    
    Metal Management Northeast,Inc.
    
    Inc. (100%)Proler Southwest LP
    
    Metal Management Proler
Southwest, Inc. (99%) (LP)
Proler Southwest GP, Inc. (1%) (GP)Reserve Iron & Metal Limited
Partnership
    
    Metal Management, Inc. (75%)
(LP)Metal Management Ohio, Inc.
(25%) (GP)Metal Dynamics LLC
    
    MM Metal Dynamics Holdings,Inc. (100%)Metal Dynamics Detroit LLC
    
    Metal Dynamics LLC (100%)
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Borrower
    
    Subsidiary
    
    Ownership of SubsidiariesMetal Dynamics Indianapolis
LLC
    
    Metal Dynamics LLC (100%)9.
    
    MM Metal Dynamics Holdings,
Inc.
    
    Metal Dynamics LLC
    
    MM Metal Dynamics Holdings,
Inc. (100%)Metal Dynamics Detroit LLC
    
    Metal Dynamics LLC (100%)Metal Dynamics Indianapolis
LLC
    
    Metal Dynamics LLC (100%)10.
    
    Metal Management Midwest, Inc.
    
    CIM Trucking, Inc.
    
    Metal Management Midwest,
Inc. (100%)Metal Management Indiana, Inc.
    
    Metal Management Midwest,
Inc. (100%)Metal Management Memphis,
L.L.C.
    
    Metal Management Midwest,
Inc. (100%)11.
    
    Metal Management Ohio, Inc.
    
    Reserve Iron & Metal Limited
Partnership
    
    Metal Management, Inc. (75%)
(LP)
Metal Management Ohio, Inc.
(25%) (GP)12.
    
    SMM  North America Trade
Corporation
    
    Metal Management Aerospace,
Inc.
    
    SMM  North America Trade
Corporation (100%)Metal Management Pittsburgh,
Inc.
    
    SMM  North America Trade
Corporation (100%)13.
    
    Metal Management West Coast
Holdings, Inc.
    
    Metal Management Arizona,
L.L.C.
    
    Metal Management West Coast
Holdings, Inc. (100%)Metal Management West, Inc.
    
    Metal Management West Coast
Holdings, Inc. (100%)14.
    
    Metal Management Proler
Southwest, Inc.
    
    Proler Southwest LP
    
    Metal Management Proler
Southwest, Inc. (99%) (LP)
Proler Southwest GP, Inc.
(1%) (GP)Metal Management Mississippi,
Inc.
    
    Proler Southwest LP (100%)Metal Management Alabama, Inc.
    
    Proler Southwest LP (100%)15.
    
    Proler Southwest GP, Inc.
    
    Proler Southwest LP
    
    Metal Management Proler
Southwest, Inc. (99%) (LP)
Proler Southwest GP, Inc.
(1%) (GP)Metal Management Alabama, Inc.
    
    Proler Southwest LP (100%)Metal Management Mississippi,
Inc.
    
    Proler Southwest LP (100%)16.
    
    Naporano Iron & Metal, Inc.
    
    None
    
    N/A17.
    
    Metal Management Northeast,
Inc.
    
    Metal Management Connecticut,
Inc.
    
    Metal Management Northeast,
Inc. (100%)
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Borrower
    
    Subsidiary
    
    Ownership of SubsidiariesNew York Recycling Ventures,
Inc.
    
    Metal Management Northeast,
Inc. (100%)18.
    
    Metal Management New Haven,
Inc.
    
    None
    
    N/A19.
    
    CIM Trucking, Inc.
    
    None
    
    N/A20.
    
    Metal Management Alabama, Inc.
    
    None
    
    N/A21.
    
    Metal Management Arizona,
L.L.C.
    
    None
    
    N/A22.
    
    Metal Management Connecticut,
Inc.
    
    None
    
    N/A23.
    
    Metal Management Indiana, Inc.
    
    None
    
    N/A24.
    
    Metal Management Memphis,
L.L.C.
    
    None
    
    N/A25.
    
    Metal Management Mississippi,
Inc.
    
    None
    
    N/A26.
    
    Metal Management Pittsburgh,
Inc.
    
    None
    
    N/A27.
    
    Metal Management West, Inc.
    
    None
    
    N/A28.
    
    New York Recycling Ventures,
Inc.
    
    None
    
    N/A29.
    
    Proler Southwest LP
    
    Metal Management Alabama, Inc.
    
    Proler Southwest LP (100%)Metal Management Mississippi,
Inc.
    
    Proler Southwest LP (100%)30.
    
    Reserve Iron & Metal Limited
Partnership
    
    None
    
    N/A31.
    
    Metal Dynamics LLC
    
    None
    
    N/A32.
    
    Metal Dynamics Detroit LLC
    
    None
    
    N/A33.
    
    Metal Dynamics Indianapolis
LLC
    
    None
    
    N/A
 Other Equity Investments
 Borrower
    
    Other Entities (% owned by Borrower)1.
    
    Sims Group USA Holdings
Corporation
    
    None2.
    
    Sims Group Global Trade
Corporation
    
    None3.
    
    HNE Recycling LLC
    
    Dover Barge Company (50%)
Simsmetal East LLC (50%)
North Carolina Resource Conservation LLC (50%)
Simsmetal West LLC (50%)
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Borrower
    
    Other Entities (% owned by Borrower)4.
    
    HNW Recycling LLC
    
    Dover Barge Company (50%)
Simsmetal East LLC (50%)
North Carolina Resource Conservation LLC (50%)
Simsmetal West LLC (50%)5.
    
    Simsmetal East LLC
    
    None6.
    
    Simsmetal West LLC
    
    SA Recycling LLC (50%)7.
    
    Sims Group USA Corporation
    
    None8.
    
    Metal Management, Inc.
    
    None9.
    
    MM Metal Dynamics Holdings,
Inc.
    
    None10.
    
    Metal Management Midwest, Inc.
    
    Rondout Iron & Metal Company, LLC (50%)
Metal Management Nashville, LLC (50%)11.
    
    Metal Management Ohio, Inc.
    
    None12.
    
    SMM  North America Trade
Corporation
    
    None13.
    
    Metal Management West Coast
Holdings, Inc.
    
    None14.
    
    Metal Management Proler
Southwest, Inc.
    
    None15.
    
    Proler Southwest GP, Inc.
    
    None16.
    
    Naporano Iron & Metal, Inc.
    
    Port Albany Ventures LLC (50%)17.
    
    Metal Management Northeast,
Inc.
    
    None18.
    
    Metal Management New Haven,
Inc.
    
    None19.
    
    CIM Trucking, Inc.
    
    None20.
    
    Metal Management Alabama, Inc.
    
    None21.
    
    Metal Management Arizona,
L.L.C.
    
    None22.
    
    Metal Management Connecticut,
Inc.
    
    None23.
    
    Metal Management Indiana, Inc.
    
    None24.
    
    Metal Management Memphis,
L.L.C.
    
    None25.
    
    Metal Management Mississippi,
Inc.
    
    None26.
    
    Metal Management Pittsburgh,
Inc.
    
    None27.
    
    Metal Management West, Inc.
    
    None
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Borrower
    
    Other Entities (% owned by Borrower)28.
    
    New York Recycling Ventures,
Inc.
    
    None29.
    
    Proler Southwest LP
    
    None30.
    
    Reserve Iron & Metal Limited
Partnership
    
    None31.
    
    Metal Dynamics LLC
    
    None32.
    
    Metal Dynamics Detroit LLC
    
    None33.
    
    Metal Dynamics Indianapolis
LLC
    
    None
 Owners of Equity Interests in the Borrowers
 Borrower
    
    Parent (% owned by Parent)1.
    
    Sims Group USA Holdings
Corporation
    
    Sims Metal Management Limited (100%)2.
    
    Sims Group Global Trade
Corporation
    
    HNE Recycling LLC (100%)3.
    
    HNE Recycling LLC
    
    Sims Group USA Holdings Corporation (100%)4.
    
    HNW Recycling LLC
    
    SHN Co., LLC (100%)5.
    
    Simsmetal East LLC
    
    HNE Recycling LLC (50%)HNW Recycling LLC (50%)6.
    
    Simsmetal West LLC
    
    HNE Recycling LLC (50%)HNW Recycling LLC (50%)7.
    
    Sims Group USA Corporation
    
    Sims Group USA Holdings Corporation (100%)8.
    
    Metal Management, Inc.
    
    Sims Metal Management Limited (100%)9.
    
    MM Metal Dynamics Holdings,
Inc.
    
    Metal Management, Inc. (100%)10
    
    Metal Management Midwest, Inc.
    
    Metal Management, Inc. (100%)11.
    
    Metal Management Ohio, Inc.
    
    Metal Management, Inc. (100%)12.
    
    SMM  North America Trade
Corporation
    
    Metal Management, Inc. (100%)13.
    
    Metal Management West Coast
Holdings, Inc.
    
    Metal Management, Inc. (100%)14.
    
    Metal Management Proler
Southwest, Inc.
    
    Metal Management, Inc. (100%)15.
    
    Proler Southwest GP, Inc.
    
    Metal Management, Inc. (100%)16.
    
    Naporano Iron & Metal, Inc.
    
    Metal Management, Inc. (100%)17.
    
    Metal Management Northeast,
Inc.
    
    Metal Management, Inc. (100%)
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Borrower
    
    Parent (% owned by Parent)18.
    
    Metal Management New Haven,
Inc.
    
    Metal Management, Inc. (100%)19.
    
    CIM Trucking, Inc.
    
    Metal Management Midwest, Inc. (100%)20.
    
    Metal Management Alabama, Inc.
    
    Proler Southwest LP (100%)21.
    
    Metal Management Arizona,
L.L.C.
    
    Metal Management West Coast Holdings, Inc. (100%)22.
    
    Metal Management Connecticut,
Inc.
    
    Metal Management Northeast, Inc. (100%)23.
    
    Metal Management Indiana, Inc.
    
    Metal Management Midwest, Inc. (100%)24.
    
    Metal Management Memphis,
L.L.C.
    
    Metal Management Midwest, Inc. (100%)25.
    
    Metal Management Mississippi,
Inc.
    
    Proler Southwest LP (100%)26.
    
    Metal Management Pittsburgh,
Inc.
    
    SMM  North America Trade Corporation (100%)27.
    
    Metal Management West, Inc.
    
    Metal Management West Coast Holdings, Inc. (100%)28.
    
    New York Recycling Ventures,
Inc.
    
    Metal Management Northeast, Inc. (100%)29.
    
    Proler Southwest LP
    
    Metal Management Proler Southwest, Inc. (99%) (LP)
Proler Southwest GP, Inc. (1%) (GP)30.
    
    Reserve Iron & Metal Limited
Partnership
    
    Metal Management, Inc. (75%) (LP)
Metal Management Ohio, Inc. (25%) (GP)31.
    
    Metal Dynamics LLC
    
    MM Metal Dynamics Holdings, Inc. (100%)32.
    
    Metal Dynamics Detroit LLC
    
    Metal Dynamics LLC (100%)33.
    
    Metal Dynamics Indianapolis
LLC
    
    Metal Dynamics LLC (100%)
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SCHEDULE 10.02
 LENDERS OFFICE;
CERTAIN ADDRESSES FOR NOTICES
 COMPANY
and DESIGNATED BORROWERS:
 
 Attention:
    
    Myles PartridgeEVP and CFOTelephone:
    
    (212) 500-7507Telecopier:
    
    (212) 604-0722Electronic Mail:
    
    mpartridge@us.sims-group.comWebsite Address:
    
    www.sims-group.com
 U.S. Taxpayer Identification Number(s):
 Sims Group USA Holdings Corporation
    
    
    20-3622384Sims Group Global Trade Corporation
    
    
    20-8474694HNE Recycling LLC
    
    
    42-1682531HNW Recycling LLC
    
    
    20-2880190SimsMetal East LLC
    
    
    20-8484120SimsMetal West LLC
    
    
    20-8484184Sims Group USA Corporation
    
    
    94-3053218Metal Management, Inc.
    
    
    94-2835068MM Metal Dynamics Holdings, Inc.
    
    
    20-8828154Metal Management Midwest, Inc.
    
    
    36-2582686Metal Management Ohio, Inc.
    
    
    34-0901723SMM  North America Trade Corporation
    
    
    25-1619177Metal Management West Coast Holdings, Inc.
    
    
    36-4325792Metal Management Proler Southwest, Inc.
    
    
    35-2265134Proler Southwest GP, Inc.
    
    
    20-3916027Naporano Iron & Metal, Inc.
    
    
    36-4325790Metal Management Northeast, Inc.
    
    
    22-1449923Metal Management New Haven, Inc.
    
    
    36-4345073CIM Trucking, Inc.
    
    
    36-4035047Metal Management Alabama, Inc.
    
    
    36-4218674Metal Management Arizona, L.L.C.
    
    
    86-0819529Metal Management Connecticut, Inc.
    
    
    06-1516622Metal Management Indiana, Inc.
    
    
    36-3197180Metal Management Memphis, L.L.C.
    
    
    62-1600547Metal Management Mississippi, Inc.
    
    
    76-0570379Metal Management Pittsburgh, Inc.
    
    
    36-4235943Metal Management West, Inc.
    
    
    84-0888787
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New York Recycling Ventures, Inc.
    
    
    20-5968735Proler Southwest LP
    
    
    36-4169987Reserve Iron & Metal Limited Partnership
    
    
    34-1658201Metal Dynamics LLC
    
    
    74-3161971Metal Dynamics Detroit LLC
    
    
    20-8827974Metal Dynamics Indianapolis LLC
    
    
    20-8828030
 LENDER:
 (for payments and Requests for Credit Extensions):
 
 Attention:
    
    Chris P PotterTelephone:
    
    (925) 675-8027Telecopier:
    
    (888) 969-2419Electronic Mail:
    
    chris.p.potter@bankofamerica.com
 Lenders Domestic Wire Instructions
 Bank Name:
    
    Bank of America NA NY NYABA/Routing No.:
    
    026009593Account Name:
    
    Credit Services WestAccount No.:
    
    3750836479Attention:
    
    Chris P PotterReference:
    
    Sims Group USA Holdings Corporation
 Lenders Foreign Wire Instructions
 Currency:
    
    Australian Dollars (AUD)Bank Name:
    
    Bank of America SydneySwift/Routing No.:
    
    BOFAAUSXAccount Name:
    
    Grand Cayman Unit #1207Account No.:
    
    96272016Attention:
    
    Grand Cayman Unit #1207Reference:
    
    Sims Group USA Holdings Corporation
 Lenders Foreign Wire Instructions
 Currency:
    
    Euro Currency (EUR)Bank Name:
    
    Bank of America LondonSwift/Routing No.:
    
    BOFAGB22Account Name:
    
    Grand Cayman Unit #1207Account No.:
    
    96272019Attention:
    
    Grand Cayman Unit #1207Reference:
    
    Sims Group USA Holdings Corporation
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Lenders Foreign Wire Instructions
 Currency:
    
    British Pounds Sterling (GBP)Bank Name:
    
    Bank of America LondonSwift/Routing No.:
    
    BOFAGB22Account Name:
    
    Grand Cayman Unit #1207Account No.:
    
    96272027FFC Account Name:
    
    Sort Code 16-50-50Attention:
    
    Grand Cayman Unit #1207Reference:
    
    Sims Group USA Holdings Corporation
 Lenders Foreign Wire Instructions
 Currency:
    
    Japanese Yen (JPY)Bank Name:
    
    Bank of America TokyoSwift/Routing No.:
    
    BOFAJPJXAccount Name:
    
    Grand Cayman Unit #1207Account No.:
    
    96272011Attention:
    
    Grand Cayman Unit #1207Reference:
    
    Sims Group USA Holdings Corporation
 Other Notices as Lender:
 
 Attention:
    
    Timothy G. HolsappleSenior Vice PresidentTelephone:
    
    (206) 358-3130Facsimile:
    
    (206) 358-3971Electronic Mail:
    
    tim.holsapple@bankamerica.com
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EXHIBIT A
 FORM OF LOAN NOTICE
 
   Agreement Company
 Applicable Designated Borrower
 o o
 1.
    
    On (a Business Day).2.
    
    In the amount of $.3.
    
    Comprised of  .
                  
   [Type of Loan requested]4.
    
    In the following currency:  .5.
    
    For Eurocurrency Fixed Rate Loans: with an Interest Period of ___months.6.
    
    On behalf of  [insert name of applicable Designated
Borrower].
 Section 2.01
 SIMS GROUP USA HOLDINGS
CORPORATION, formerly known
as Sims Hugo Neu CorporationBy:Name:Title:
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EXHIBIT B
 FORM OF NOTE
 $___,000,000
    
    [, ___]
 Borrower Lender Agreement
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[BORROWER / APPLICABLE DESIGNATED BORROWER]By:Name:Title:
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EXHIBIT C
 [FORM OF GUARANTY]
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EXHIBIT D
 FORM OF DESIGNATED BORROWER
REQUEST AND ASSUMPTION AGREEMENT
 
   Section 2.12 Credit Agreement Company Lender
 Designated Borrower
 Section 2.12
 
  Section 2.12
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IN WITNESS WHEREOF
 [DESIGNATED BORROWER]By:Name:Title:SIMS GROUP USA HOLDINGS CORPORATION, formerly known
as Sims Hugo Neu CorporationBy:Name:Title:
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EXHIBIT E
 FORM OF DESIGNATED BORROWER NOTICE
 
   Section 2.12 Credit
Agreement Company Lender
 
  BANK OF AMERICA, N.A.By:Name:Title:
 [*] Confidential Treatment Requested
 1