Document:

exv10w20

 

Exhibit 10.20

FIRST AMENDMENT

     THIS FIRST AMENDMENT (this “Amendment”), is dated August 31, 2006, and relates to that
certain (a) Receivables Financing Agreement, dated as of May 30, 2006 (as amended, restated,
supplemented or otherwise modified from time to time, the “Financing Agreement”), among
Hayes Funding II, Inc., a Delaware corporation (“Hayes II”), the financial institutions
from time to time party thereto (each a “Lender” and collectively, the “Lenders”),
Citicorp USA, Inc., a Delaware corporation (“CUSA”), as program agent (the “Program
Agent”) for the Lenders and HLI Operating Company, Inc. as “Servicer” (“HLIOC”), (b)
Secondary Purchase Agreement, dated as of May 30, 2006 (as amended, restated, supplemented or
otherwise modified from time to time, the “Secondary Purchase Agreement”), among Hayes II
and Hayes Funding I, LLC (“Hayes I”), and (c) Originator Purchase Agreement, dated as of
May 30, 2006 (as amended, restated, supplemented or otherwise modified from time to time, the
“Originator Purchase Agreement”), among the persons listed on Schedule 1 thereto as
“Originators” and Hayes I, and is hereby made by Hayes I, Hayes II, the Program Agent, the Required
Lenders, on behalf of the Lenders, and the Originators (as defined immediately prior to giving
effect to this Amendment). Capitalized terms used herein and not otherwise defined shall have the
meanings ascribed to them in the Financing Agreement, or if not defined therein, in the Originator
Purchase Agreement, or if not defined therein, in the Secondary Purchase Agreement, in each case,
as modified hereby.

W I T N E S S E T H:

     WHEREAS, HLIOC has advised Hayes I, Hayes II and the Program Agent that HLIOC has agreed to
sell all of the issued and outstanding shares of capital stock of Hayes Lemmerz International –
Southfield, Inc. (“Southfield”) pursuant to that certain Stock Purchase Agreement, dated August 31,
2006, among Minor Investments, LLC, a Michigan limited liability company, TRA Investments, LLC, a
Michigan limited liability company, AWB Investments, LLC, a Michigan limited liability company, and
Whitebox Hedged High Yield/Cadillac Casting Acquisition, Ltd., a British Virgin Islands company,
Southfield and HLIOC (the transactions relating thereto, the “Sale Transaction”);

     WHEREAS, Southfield has requested that, in connection with the consummation of the Sale
Transaction, that the Program Agent, the Required Lenders, on behalf of the Lenders, Hayes II and
Hayes I consent to the removal of Southfield as an Originator pursuant to Section 2.09 of the
Originator Purchase Agreement and the definition of “Originator” in the Financing Agreement (the
“Southfield Removal”);

     In connection with the Southfield Removal and Sale Transaction, Southfield and Hayes I
have requested that, following the consummation of the Sale Transaction, Hayes II reconvey, and
release all security interests in, all Receivable Assets sold, or purported to be sold, by
Southfield to Hayes I and subsequently by Hayes I to Hayes II (the “Southfield Receivable
Assets”; such transaction, the “Reconveyance”), and Hayes II has requested that Program
Agent and the Required Lenders, on behalf of the Lenders, release all security interests in the
Southfield Receivable Assets.

First Amendment

 

 

     WHEREAS, the Program Agent, the Required Lenders, on behalf of the Lenders, Hayes I, Hayes II,
and the Originators are willing to grant the requested consent on the terms and conditions set
forth herein;

     NOW, THEREFORE, in consideration of the foregoing premises, the parties hereto agree as
follows:

     1. Consent, Amendments and Reconveyance As of Effective Date. As of the “Effective
Date” (as defined in Section 3 below):

     (a) The Program Agent, the Required Lenders, on behalf of the Lenders, Hayes I, Hayes
II and the Originators hereby consent to the Southfield Removal following the consummation
of the Sale Transaction.

     (b) Each of Schedule 1 and Exhibit C to the Originator Purchase Agreement shall be
amended and restated by such schedules and exhibits attached as Exhibit A hereto to
reflect the Southfield Removal.

     (c) Schedule 1.01-4 of the Financing Agreement shall be amended by deleting “Hayes
Lemmerz International – Southfield, Inc.” under the reference to “Originators” thereon.

     (d) Each Weekly Report delivered by HLIOC under the Financing Agreement shall detail
the collections received by Hayes II, HLIOC, or Hayes I from Southfield Receivable Assets
during the related calendar week and shall report as to the timing of segregation and
disbursement of such collections; it being agreed and understood that pursuant to the
definition of “Weekly Report”, such report is to include additional information requested by
Program Agent from time to time, and that pursuant to this Amendment such additional
information is hereby requested.

     (e) On each Payment Date, HLIOC shall provide a written report to Program Agent (i)
certifying that no collections from Southfield Receivable Assets have been deposited in the
Facility Account and (ii) detailing any collections received from Southfield Receivable
Assets since the date last reported to the Program Agent and reporting as to the timing of
segregation and disbursement of such collections; it being agreed and understood that
pursuant to Section 6.02(g)(iv) of the Financing Agreement, Program Agent has the right to
so request such information.

     (f) HLIOC agrees that it will, on the Effective Date, cause Southfield to send written
notice to each Obligor of Southfield Receivable Assets to remit payment to a deposit account
other than a Deposit Account (and a lockbox other than a Lockbox) and a Person other than
HLIOC, Hayes II, and Hayes I. Should notwithstanding such instructions any collections from
Southfield Receivable Assets be remitted to HLIOC, Hayes II, Hayes I, any Deposit Account or
any Lockbox, HLIOC shall promptly (and in any event within one Business Day) segregate such
collections from the Collections and disburse such collections from such Deposit Account or
Lockbox or otherwise remit such collections so received to the acquirer of Southfield.

First Amendment

 

 

     (g) The Program Agent, on behalf of the Lenders, hereby releases all security interests
with respect to, and Hayes II hereby accepts and receives, all of the Program Agent’s right,
title and interest in and to the Collateral arising out of, or relating to, Receivables
originated by Southfield (the “Reconveyed Property”). As a condition to the
foregoing conveyance of the Reconveyed Property, (a) Hayes II shall have delivered to the
Program Agent on the Effective Date a Daily Report giving pro forma effect to such
conveyance, and (b) Hayes II shall have paid to the Program Agent, in immediately available
funds, an amount equal to the amount, if any, by which the Facility Principal is greater
than the Borrowing Base, in each case as determined after giving effect to such
reconveyance, which amount shall have been paid in consideration for such transfers and
assignments. On or after the Effective Date, the Program Agent agrees to record and file
termination statements with respect to financing statements filed against Southfield to
reflect the foregoing reconveyance.

     2. Representations and Warranties. (a) As of the Effective Date, Originators (as
defined prior to the Effective Date), hereby represent and warrant to Hayes I, (b) as of the
Effective Date, Originators (as defined as of the Effective Date), hereby represent and warrant to
Hayes I, and (c) as of the Effective Date, Hayes I hereby represents and warrants to Hayes II, and
Hayes II and HLIOC each represent and warrant to Program Agent (for the benefit of itself and the
Lenders) that (i) all of the representations and warranties of such Person in the Transaction
Documents are true and correct in all respects on and as of such date as though made to each such
Person on and as of such date (other than representations and warranties which expressly speak as
of a different date, which representations shall be made only on such date), (ii) each of the
recitals accurately describes the transactions described therein in all respects, and (iii) as of
such date, no Event of Termination, Incipient Event of Termination, or Servicer Default has
occurred and is continuing.

     3. Effective Date. The “Effective Date” shall occur upon the satisfaction of
the following conditions precedent:

     (a) The Program Agent shall have received counterparts hereof executed by each Person
for which a signature block is attached hereto.

     (b) Each of the representations and warranties contained in this Amendment which speaks
as of the Effective Date shall be true and correct in all respects on and as of the
Effective Date.

     (c) The Program Agent, Southfield and CNAI, in its capacity as administrative agent
under the Credit Agreement, shall have executed and delivered signature pages to an
agreement removing Southfield as a party to the Intercreditor Agreement, which agreement
shall be in form and substance satisfactory to the Program Agent.

     (d) The Program Agent shall have received an executed reconveyance agreement among
Hayes I, Hayes II, HLIOC and Southfield which shall be in form and substance satisfactory to
the Program Agent.

First Amendment

 

 

     (e) The Sale Transaction shall have been consummated.

     4. Reference to and Effect on the Loan Documents.

     (a) As applicable, on and after the Effective Date, each reference in the Financing
Agreement and Originator Purchase Agreement to “this Agreement”, “hereunder”, “hereof” or
words of like import, and each reference in the other Transaction Documents to the Financing
Agreement and Originator Purchase Agreement, shall mean and be a reference to the Financing
Agreement and Originator Purchase Agreement as modified hereby.

     (b) Except as specifically amended or consented to above, all of the terms of the
Financing Agreement, Originator Purchase Agreement and all other Transaction Documents
remain unchanged and in full force and effect.

     (c) The execution, delivery and effectiveness of this Amendment shall not operate as a
waiver of any right, power or remedy of any Lender or of Program Agent, Hayes I or Hayes II
under any of the Transaction Documents, nor constitute an amendment, other than as set forth
herein, or waiver of any provision of any of the Transaction Documents, nor obligate any
Lender or Program Agent, Hayes I or Hayes II to agree to similar consents in the future.

     (d) This Amendment shall constitute a Transaction Document and any failure to comply
with Section 1(g) hereof shall constitute an Event of Termination under the
Financing Agreement notwithstanding any grace period set forth in Section 7.01(d) of the
Financing Agreement.

     5. Costs and Expenses. Hayes II agrees to pay upon demand in accordance with the
terms of Section 10.04(a)(viii) of the Financing Agreement all reasonable costs and expenses of the
Program Agent in connection with the preparation, reproduction, negotiation, execution and delivery
of this Amendment, including, without limitation, the reasonable fees, expenses and disbursements
of Sidley Austin LLP, counsel for the Program Agent with respect to any of the foregoing.

     6. Miscellaneous. The headings herein are for convenience of reference only and shall
not alter or otherwise affect the meaning hereof.

     7. Counterparts. This Amendment may be executed in any number of counterparts and by
the different parties hereto in separate counterparts, each of which when so executed and delivered
by facsimile shall be an original, but all of which shall together constitute one and the same
instrument.

     8. GOVERNING LAW. THIS AMENDMENT SHALL, IN ACCORDANCE WITH SECTION 5-1401 OF THE
GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAW OF THE STATE OF NEW YORK.

* * *

First Amendment

 

 

     IN WITNESS WHEREOF, Hayes I, Hayes II, HLIOC, the Program Agent, the Required Lenders, on
behalf of the Lenders, Southfield and the Originators have caused this Amendment to be executed by
their respective officers thereunto duly authorized as of the date first above written.

	 	 	 	 	 	 	 
	 	 	HAYES FUNDING II, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Gary Findling	 	 
	 

	 	 	 	Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	HAYES FUNDING I, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Gary Findling	 	 
	 

	 	 	 	Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	HLI OPERATING COMPANY, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Gary Findling	 	 
	 

	 	 	 	Treasurer	 	 

Signature Page to First Amendment

 

 

	 	 	 	 	 	 	 
	 	 	CITICORP USA, INC.,	 	 
	 	 	as Program Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Keith R. Gerding	 	 
	 

	 	 	 	Vice President	 	 

Signature Page to First Amendment

 

 

	 	 	 	 	 	 	 
	 	 	CITICORP USA, INC.,	 	 
	 	 	as Required Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	[Keith R. Gerding]	 	 
	 

	 	 	 	[Vice President]	 	 

Signature Page to First Amendment

 

 

	 	 	 	 	 	 	 
	 	 	[_____________],	 	 
	 	 	as Required Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	[Name]	 	 
	 

	 	 	 	[Title]	 	 

Signature Page to First Amendment

 

 

ORIGINATORS:

HAYES LEMMERZ INTERNATIONAL – SEDALIA, INC.

HAYES LEMMERZ INTERNATIONAL – GEORGIA, INC.

HAYES LEMMERZ INTERNATIONAL IMPORT, INC.

HAYES LEMMERZ INTERNATIONAL – COMMERCIAL HIGHWAY, INC.

HAYES LEMMERZ INTERNATIONAL – WABASH, INC.

HAYES LEMMERZ INTERNATIONAL – LAREDO, INC.

HAYES LEMMERZ INTERNATIONAL – HOMER, INC.

HAYES LEMMERZ INTERNATIONAL – BRISTOL, INC.

HAYES LEMMERZ INTERNATIONAL – MONTAGUE, INC.

HAYES LEMMERZ INTERNATIONAL – TECHNICAL CENTER, INC.

	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Gary Findling	 	 
	 

	 	 	 	Treasurer
	 	 

Signature Page to First Amendment

 

 

REMOVED ORIGINATOR:

	 	 	 	 	 	 	 
	 	 	HAYES LEMMERZ INTERNATIONAL –	 	 
	 	 	SOUTHFIELD, INC.	 	 
	 
	 	 	 	 	 	 
	 
	 	By:	 	 	 	 
	 
	 	 	 	 	 
	 
	 	 	 	Gary Findling	 	 
	 
	 	 	 	Treasurer	 	 

Signature Page to First Amendment

 

 

Exhibit A

Amended and Restated Schedule 1 and Exhibit C to Originator Purchase Agreement

Schedule 1

List of Originators

Originators

Hayes Lemmerz International – Sedalia, Inc.

Hayes Lemmerz International – Commercial Highway, Inc.

Hayes Lemmerz International – Georgia, Inc.

Hayes Lemmerz International Import, Inc.

Hayes Lemmerz International – Wabash, Inc.

Hayes Lemmerz International – Laredo, Inc.

Hayes Lemmerz International – Homer, Inc.

Hayes Lemmerz International – Bristol, Inc.

Hayes Lemmerz International – Montague, Inc.

Hayes Lemmerz International – Technical Center, Inc.

First Amendment

 

 

EXHIBIT C

Location of Records, Chief Executive Offices and Addresses

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Sole 
	 	 	 	 	Chief 	 	Principal 	 	Federal 	 	 	 	Jurisdiction 
	 	 	Location of 	 	Executive 	 	Place of 	 	Employer	 	Form of 	 	of 
	Originator	 	Records	 	Office	 	Business	 	ID#	 	Organization	 	Organization
	 
	Hayes Lemmerz
	 	15300 Centennial	 	15300 Centennial	 	3610 W. Main St.	 	77-0597670	 	Corporation	 	Delaware
	International –
	 	Dr.	 	Dr.	 	Sedalia, MO	 	 	 	 	 	 
	Sedalia, Inc.
	 	Northville, MI	 	Northville, MI	 	65301	 	 	 	 	 	 
	 
	 	48168	 	48168	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Hayes Lemmerz
	 	15300 Centennial	 	15300 Centennial	 	1215 Palmour	 	58-2046122	 	Corporation	 	Delaware
	International –
	 	Dr.	 	Dr.	 	Drive	 	 	 	 	 	 
	Georgia, Inc.
	 	Northville, MI	 	Northville, MI	 	Gainesville, GA	 	 	 	 	 	 
	 
	 	48168	 	48168	 	30501	 	 	 	 	 	 
	Hayes Lemmerz
	 	15300 Centennial	 	15300 Centennial	 	15300 Centennial	 	38-3311655	 	Corporation	 	Delaware
	International
	 	Dr.	 	Dr.	 	Dr.	 	 	 	 	 	 
	Import,
	 	Northville, MI	 	Northville, MI	 	Northville, MI	 	 	 	 	 	 
	Inc.
	 	48168	 	48168	 	48168	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Hayes Lemmerz
	 	15300 Centennial	 	15300 Centennial	 	3837 W. Mill St.	 	38-2170301	 	Corporation	 	Indiana
	International –
	 	Dr.	 	Dr.	 	Ext.	 	 	 	 	 	 
	Wabash, Inc.
	 	Northville, MI	 	Northville, MI	 	Wabash, IN	 	 	 	 	 	 
	 
	 	48168	 	48168	 	46992	 	 	 	 	 	 
	Hayes Lemmerz
	 	15300 Centennial	 	15300 Centennial	 	P.O. Box 2159	 	74-2418656	 	Corporation	 	Texas
	International –
	 	Dr.	 	Dr.	 	Laredo, TX	 	 	 	 	 	 
	Laredo, Inc.
	 	Northville, MI	 	Northville, MI	 	78044	 	 	 	 	 	 
	 
	 	48168	 	48168	 	 	 	 	 	 	 	 

First Amendment

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Sole 
	 	 	 	 	Chief 	 	Principal 	 	Federal 	 	 	 	Jurisdiction 
	 	 	Location of 	 	Executive 	 	Place of 	 	Employer	 	Form of 	 	of 
	Originator	 	Records	 	Office	 	Business	 	ID#	 	Organization	 	Organization
	 
	Hayes Lemmerz
	 	15300 Centennial	 	15300 Centennial	 	29991 M60 East	 	38-3086380	 	Corporation	 	Delaware
	International –
	 	Dr.	 	Dr.	 	Homer, MI 49245	 	 	 	 	 	 
	Homer, Inc.
	 	Northville, MI	 	Northville, MI	 	 	 	 	 	 	 	 
	 
	 	48168	 	48168	 	 	 	 	 	 	 	 
	Hayes Lemmerz
	 	15300 Centennial	 	15300 Centennial	 	51650 County	 	38-2265409	 	Corporation	 	Michigan
	International –
	 	Dr.	 	Dr.	 	Rd. 133	 	 	 	 	 	 
	Bristol, Inc.
	 	Northville, MI	 	Northville, MI	 	Bristol, IN 46507	 	 	 	 	 	 
	 
	 	48168	 	48168	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Hayes Lemmerz
	 	15300 Centennial	 	15300 Centennial	 	5353 Wilcox	 	38-1854771	 	Corporation	 	Michigan
	International –
	 	Dr.	 	Dr.	 	Ave.	 	 	 	 	 	 
	Montague, Inc.
	 	Northville, MI	 	Northville, MI	 	Montague, MI	 	 	 	 	 	 
	 
	 	48168	 	48168	 	49437	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Hayes Lemmerz
	 	15300 Centennial	 	15300 Centennial	 	1600 W. 8 Mile	 	38-2257519	 	Corporation	 	Michigan
	International –
	 	Dr.	 	Dr.	 	Rd.	 	 	 	 	 	 
	Technical Center,
	 	Northville, MI	 	Northville, MI	 	Ferndale, MI	 	 	 	 	 	 
	Inc.
	 	48168	 	48168	 	48220	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Hayes Lemmerz
	 	15300 Centennial	 	15300 Centennial	 	428 Seiberling St.	 	77-0597674	 	Corporation	 	Delaware
	International –
	 	Dr.	 	Dr.	 	Akron, OH	 	 	 	 	 	 
	Commercial
	 	Northville, MI	 	Northville, MI	 	44306-3282	 	 	 	 	 	 
	Highway, Inc,
	 	48168	 	48168	 	 	 	 	 	 	 	 

First Amendmentexv10w21

 

Exhibit 10.21

Amendment No. 3, Waiver and Consent to Amended and Restated Credit Agreement

          This Amendment No. 3, Waiver and Consent dated as of February ___, 2007 (this
“Amendment No. 3”), among HLI Operating Company, Inc., a Delaware corporation (the
“Borrower”), Hayes Lemmerz International, Inc., a Delaware corporation (“Holdings”), and
Citicorp North America, Inc. (“CNAI”), as Administrative Agent on behalf of each Lender
executing a Lender Consent (as defined below) amends certain provisions of the Amended and Restated
Credit Agreement, dated as of April 11, 2005 (as the same may be amended, restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”), among the Borrower, Holdings, the
Lenders and Issuers (in each case as defined therein) party thereto, CNAI, as Agent for the First
Lien Lenders (as defined therein), CNAI, as Agent for the Term C Lenders (as defined therein),
CNAI, as Collateral Agent for the Secured Parties, Lehman Commercial Paper Inc., as
Syndication Agent, General Electric Capital Corporation, as Documentation Agent, and
Citigroup Global Markets Inc. and Lehman Brothers Inc., as Joint Book-Running
Lead Managers and Joint Lead Arrangers.

WITNESSETH:

          Whereas, the Borrower has requested that the Lenders agree to amend certain
provisions of the Credit Agreement;

          Whereas, the Borrower and the Administrative Agent wish to enter into this Amendment
for the purpose of giving effect to such modifications in each case as more particularly set forth
herein;

          Whereas, the Borrower desires to enter into the assets sale transaction described on
Annex A hereto (the “Specified Transaction”) and has requested that the Administrative Agent and
the Requisite Lenders consent to the Specified Transaction;

          Whereas, pursuant to Section 11.1(a) (Amendments, Waivers, Etc.) of the Credit
Agreement, the consent of the Requisite Lenders is required to effect the amendments set forth
herein;

          Whereas, the Lenders party to the Lenders’ Consent (constituting the Requisite
Lenders) and the Administrative Agent agree, subject to the limitations and conditions set forth
herein, to (a) consent to the Specified Transaction and (b) amend the Credit Agreement as set forth
herein;

          Now, Therefore, in consideration of the above premises, the Borrower and the
Administrative Agent, at the direction of the Lenders constituting the Requisite Lenders, agree as
follows:

ARTICLE I

DEFINITIONS

          Section 1.1 Unless otherwise defined herein, capitalized terms used herein shall have the
meanings ascribed to such terms in the Credit Agreement.

 

ARTICLE II

CONSENT AND WAIVER

          Effective as of the Amendment Effective Date and subject the satisfaction (or due waiver) of
the conditions set forth in Article IV (Conditions Precedent to the Effectiveness of this Amendment
No. 3) hereof, the Lenders party to the Lenders’ Consent, constituting the Requisite Lenders, and
the Administrative Agent hereby consent to the Specified Transaction described on Annex A and agree
that the Specified Transaction shall not constitute an “Asset Sale” for purposes of (i) the
obligation in Section 2.10 (Mandatory Prepayment) of the Credit Agreement and (ii) limitations in
Section 8.4 (Sale of Assets) of the Credit Agreement.

ARTICLE III

AMENDMENT TO ARTICLE VIII (NEGATIVE COVENANTS)

          Clause (c) of Section 8.6 (Prepayment and Cancellation of Indebtedness) of the Credit
Agreement shall be amended by (a) deleting the word “and” immediately before subclause (xi) thereof
and (b) at the end of clause (c) (but before the period therein), inserting the following as a new
subclause (xii) thereof:

          “, and (xii) convert any Senior Notes to common Stock of Holdings”

ARTICLE IV

CONDITIONS PRECEDENT TO THE EFFECTIVENESS OF THIS AMENDMENT NO. 3

          Section 4.1 Effectiveness. This Amendment No. 3 shall become effective, on the date
each of the following conditions precedent is satisfied or duly waived by the Requisite Lenders
(the “Amendment Effective Date”):

          (a) Documentation. The Administrative Agent shall have received on or prior to the Amendment
Effective Date each of the following, each dated the Amendment Effective Date unless otherwise
indicated or agreed to by the Administrative Agent, in form and substance satisfactory to the
Administrative Agent:

          (i) this Amendment No. 3 executed by the Borrower and Holdings;

          (ii) the Consent and Agreement in the form attached hereto as Exhibit A, executed by
each of the Guarantors;

          (iii) Acknowledgment and Consents, in the form set forth hereto as Exhibit B (each, a
“Lender Consent”), executed by the Lenders constituting the Requisite Lenders; and

          (iv) such additional documentation as the Administrative Agent may reasonably require.

          (b) Fees and Expenses. The Borrower shall have paid:

          (i) unless otherwise agreed by the Administrative Agent, all outstanding fees, costs
and expenses owing to the Administrative Agent, including the reasonable fees, expenses and
disbursements of all legal counsel for the Administrative Agent; and

2

 

          (ii) the legal fees set forth on Annex B hereto.

ARTICLE V

MISCELLANEOUS

          Section 5.1 Subsidiary Guarantors. The Borrower hereby represents and warrants to the
Administrative Agent and the Lenders that as of the date hereof the Consent and Agreement in the
form attached hereto as Exhibit A sets forth the true and correct name of each Subsidiary
Guarantor.

          Section 5.2 Reference to and Effect on the Loan Documents.

          (a) On and after the Amendment Effective Date, each reference in the Credit Agreement to “this
Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, and each reference in the
other Loan Documents to the Credit Agreement, shall mean and be a reference to the Credit Agreement
as amended hereby, and this Amendment No. 3 and the Credit Agreement shall be read together and
construed as a single instrument. The table of contents, signature pages and list of Exhibits and
Schedules of the Credit Agreement shall be modified as necessary to reflect the changes made in
this Amendment No. 3 as of the Amendment Effective Date.

          (b) Except as specifically amended or waived above, all of the terms of the Credit Agreement
and all other Loan Documents shall remain unchanged and in full force and effect and all
obligations and liabilities of the Loan Parties thereunder shall remain in full force and effect
and each of which is hereby reaffirmed.

          (c) The execution, delivery and effectiveness of this Amendment No. 3 shall not, except as
expressly provided herein, operate as an amendment or waiver of any right, power or remedy of any
Lender, any Issuer, or the Administrative Agent under the Credit Agreement or any Loan Document nor
constitute an amendment or waiver of any provision of the Credit Agreement or any Loan Document.

          (d) This Amendment No. 3 is a Loan Document.

          Section 5.3 Costs and Expenses. The Borrower agrees to pay on demand in accordance
with the terms of Section 11.3 (Costs and Expenses) of the Credit Agreement all costs and expenses
of the Administrative Agent in connection with the preparation, reproduction, execution and
delivery of this Amendment No. 3, and all other Loan Documents entered into in connection herewith,
including the reasonable fees, expenses and disbursements of Weil, Gotshal & Manges LLP and other
counsel for the Administrative Agent with respect thereto.

          Section 5.4 Titles. The Section titles contained in this Amendment No. 3 are and
shall be without substantive meaning or content of any kind whatsoever and are not a part of the
agreement between the parties hereto.

          Section 5.5 Execution in Counterparts. This Amendment No. 3 may be executed and
delivered in any number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed and delivered shall be deemed an original and all of which taken
together shall constitute one and the same original agreement.

          Section 5.6 Notices. All communications and notices to the Administrative Agent
hereunder shall be given as provided in the Credit Agreement.

3

 

          Section 5.7 Severability. If any term or provision set forth in this Amendment No. 3
shall be invalid or unenforceable, the remainder of this Amendment No. 3, or the application of
such terms or provisions to persons or circumstances, other than those to which it is held
unenforceable, shall not in any way be affected or impaired thereby.

          Section 5.8 Successors. The terms of this Amendment No. 3 shall be binding upon, and
shall inure to the benefit of, the parties hereto and their respective successors or assigns.

          Section 5.9 Governing Law. This Amendment No. 3 shall be interpreted, and the rights
and liabilities of the parties determined, in accordance with the internal law of the State of New
York.

[signature pages follow]

4

 

     IN WITNESS WHEREOF, this Amendment No. 3 has been duly executed on the date set forth
above.

	 	 	 	 	 
	 	HLI Operating Company Inc.,

as Borrower

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	Hayes Lemmerz International, Inc.,

as Holdings

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

SIGNATURE PAGE TO AMENDMENT No. 3.

 

 

	 	 	 	 	 
	 	Citicorp North America, Inc.,

as First Lien Agent, Second Lien Agent, and

Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

SIGNATURE PAGE TO AMENDMENT No. 3.

 

 

Annex A

Specified Transaction

Diversified Machine, Inc. will purchase 100% of the issued and outstanding stock of each of Hayes
Lemmerz International — Bristol, Inc. and Hayes Lemmerz International — Montague, Inc. for
approximately $32,000,000, including the assumption of $5,200,000 of debt, after taking into
account adjustments for (i) capital expenditures relative to the capital budget, (ii)
non-production inventory levels and (iii) working capital levels, in each case, measured as of the
closing date.

 

 

Annex B

Legal Fees

[To be provided.]

 

 

Exhibit A

Consent, Agreement and Affirmation of Guaranty

          Each of the undersigned Guarantors hereby consents to the terms of the foregoing Amendment No.
3 and agrees that the terms of this Amendment No. 3 shall not affect in any way its obligations and
liabilities under any Loan Document, all of which obligations and liabilities shall remain in full
force and effect and each of which is hereby reaffirmed.

Hayes Lemmerz International, Inc.

HLI Parent Company, Inc.

Hayes Lemmerz International – Bristol, Inc.

Hayes 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 – Montague, Inc.

Hayes Lemmerz International – Sedalia, Inc.

Hayes Lemmerz International – Southfield, 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:  	 	 
	 

GUARANTORS’ CONSENT, AGREEMENT AND AFFIRMATION OF GUARANTY TO AMENDMENT NO. 3

 

 

Exhibit B

Acknowledgement And Consent

To: Citicorp North America, Inc.

388 Greenwich Street

New York, New York 10013

Attention: Keith Gerding

Re: HLI Operating Company, Inc.

     Reference is made to the Amended and Restated Credit Agreement, dated as of April 11, 2005 (as
the same may be amended, restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”), among HLI Operating Company, Inc., a Delaware corporation, as Borrower, Hayes
Lemmerz International, Inc., a Delaware corporation, as Holdings, the Lenders (as defined therein),
the Issuers (as defined therein), Citicorp North America, Inc., as Agent for the First Lien Lenders
(as defined therein), as Agent for the Term C Lenders (as defined therein) and as Collateral Agent
for the Secured Parties, Lehman Commercial Paper, Inc., as Syndication Agent, and General Electric
Capital Corporation as Documentation Agent. Capitalized terms used herein and not otherwise
defined herein are used herein as defined in the Credit Agreement.

     The Borrower has requested that the Lenders consent to an amendment, waiver and consent to the
Credit Agreement on the terms described in Amendment No. 3, Waiver and Consent to the Credit
Agreement (“Amendment No. 3”), the form of which is attached hereto.

     Pursuant to Section 11.1(a) (Amendments, Waivers, Etc.) of the Credit Agreement, the
undersigned Lender hereby consents to the terms of Amendment No. 3 and authorizes the
Administrative Agent to execute and deliver Amendment No. 3 on its behalf.

	 	 	 	 	 	 	 
	 	 	Very truly yours,	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	[NAME OF LENDER]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

Dated as of February ___, 2007

LENDERS’ ACKNOWLEDGEMENT AND CONSENT TO AMENDMENT NO. 3

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