Document:

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EXHIBIT 4.7

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE
REGISTRATION STATEMENT UNDER SUCH ACT COVERING SUCH SECURITIES, THE SALE IS MADE IN ACCORDANCE WITH
RULE 144 UNDER SUCH ACT, OR THE COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE HOLDER OF THESE
SECURITIES REASONABLY SATISFACTORY TO THE COMPANY STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR
HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.

CONVERTIBLE PROMISSORY NOTE

			
	$3,750,000.00
	 	April 29, 2005

     Finisar Corporation, a Delaware corporation (the “Company”), for value received,
promises to pay to CyOptics, Inc., a Delaware corporation (“Holder”), the principal sum of
Three Million Seven Hundred Fifty Thousand Dollars ($3,750,000.00), together with interest from the
date of this Note on the unpaid principal balance at a rate equal to 3.35% per annum, computed on
the basis of the actual number of days elapsed and a year of 365 days. This Note is issued
pursuant to that Series F Stock Purchase Agreement dated April 29, 2005 by and among the Company,
other purchasers of Holder’s Series F Preferred Stock and the Holder (the “Purchase
Agreement”).

     1. Definitions. As used in this Note, the following terms shall have the definitions
ascribed to them below:

          1.1. “Commission” means the United States Securities and Exchange Commission.

          1.2. “Common Stock” means the common stock, $0.001 par value, of the Company, and any
securities into which such common stock may hereafter be classified.

          1.3. “Conversion Event” has the meaning set forth in Section 3.1 below.

          1.4. “Conversion Shares” has the meaning set forth in Section 3.2 below.

          1.5. “Conversion Amount” means $937,500.00.

          1.6. “Maturity Date” means November 1, 2005.

          1.7. “Purchase Agreement” means the Series F Preferred Stock Purchase Agreement, made
as of April 29, 2005, by and among Holder and the purchasers listed on Schedule A thereto.

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          1.8 “Remaining Principal Balance” has the meaning set forth in Section 3.1 below.

          1.9 “Rule 144” means Rule 144 promulgated by the Commission under the Securities Act
as in effect from time to time.

          1.10 “Securities Act” means the Securities Act of 1933, as amended.

          1.11 “Share Price” means the average closing trading price per share of the Common
Stock on the Nasdaq National Market (“NNM”) for (i) the four (4) Trading Days immediately
preceding the date of the applicable Conversion Event or (ii) the Trading Day immediately preceding
the date of the applicable Conversion Event, as selected by Holder in its sole discretion.

          1.12 “Trading Day” means a day on which trading occurs on the NNM (or any successor
trading exchange thereto).

     2. Payment.

          2.1. Payment at Maturity. The entire outstanding principal balance of this
Convertible Promissory Note (the “Note”) and any unpaid and accrued interest shall be due
and payable, if not converted prior thereto pursuant to Section 3 below, on the earlier of (i)
Maturity Date, or (ii) when, upon or after the occurrence of an Event of Default (as defined
below), such amounts are declared due and payable by Holder or made automatically due and payable
in accordance with the terms hereof. The Company shall have the right at any time and without
premium or penalty to prepay this Note, in whole or in part, in cash prior to the Maturity Date.
Any such prepayment will be applied first to the payment of expenses due under this Note, second to
interest accrued on this Note and third, if the amount of prepayment exceeds the amount of all such
expenses and accrued interest, to the payment of principal of this Note.

          2.2. Currency. All payments shall be in lawful money of the United States of America.

     3. Conversion. This Note shall convert into Common Stock as follows:

          3.1. Conversion Events.

               (a) Upon the declaration of the effectiveness of a registration statement contemplated by
Schedule A of the Purchase Agreement filed by the Company with the Commission (the “Initial
Conversion Event”), a Conversion Amount shall be automatically converted into that number of
shares of Common Stock determined in accordance with Section 3.2 below.

               (b) The remaining principal balance outstanding under this Note after the Initial Conversion
Event (the “Remaining Principal Balance”) shall be converted into that number of shares of
Common Stock determined in accordance with Section 3.2 below on each of the following dates:

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                    (i) on that date which is seven (7) days after the Initial Conversion Event, an amount
equal to a Conversion Amount;

                    (ii) on that date which is fourteen (14) days after the Initial Conversion Event, an
amount equal to a Conversion Amount; and

                    (iii) on that date which is twenty-one (21) days after the Initial Conversion Event, an
amount equal to the remaining outstanding principal balance plus any unpaid and accrued
interest (each of which, together with the Initial Conversion Event, a “Conversion
Event”).

Should any portion of the Remaining Principal Balance remain outstanding as of the date that is
four (4) months after the Initial Conversion Event, the entire Remaining Principal Balance shall be
automatically converted into shares of Finisar Common Stock as of such date in accordance with
Section 3.2 below.

          3.2. Shares Issuable Upon Conversion. The Holder shall give written notice to the
Company of its selection of the Share Price before 5:00 p.m. Pacific Time on the Trading Day prior
to each Conversion Event. Upon each conversion of this Note in accordance with Section 3.1 above,
the Holder shall be entitled to receive a certificate representing that number of shares of Common
Stock (the “Conversion Shares”) equal to the Conversion Amount on such Conversion Event,
divided by the Share Price.

          3.3. Stock Certificate. The Company shall cause a certificate or certificates
representing the Conversion Shares to be issued in the name of Holder and delivered to the Holder
by nationally recognized overnight delivery service within two (2) business days following the
occurrence of a Conversion Event. The certificate(s) representing the Conversion Shares shall bear
the following legend, if applicable:

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE
REGISTRATION STATEMENT UNDER SUCH ACT COVERING SUCH SECURITIES, THE SALE IS MADE IN ACCORDANCE WITH
RULE 144 UNDER SUCH ACT, OR THE COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE HOLDER OF THESE
SECURITIES REASONABLY SATISFACTORY TO THE COMPANY STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR
HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.

          3.4. Fractional Shares. No fractional shares shall be issued upon conversion of this
Note and the value of any fractional shares issuable upon such conversion, based on the Share
Price, shall be paid by the Company to the Holder in cash on the Conversion Event.

          3.5. Reservation of Shares. The Company shall at all times reserve and keep
available, free from preemptive rights, out of its authorized but unissued Common Stock, for the
purpose of effecting the conversion of the Note, the full number of shares of Common Stock then
issuable upon the conversion of this Note.

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          3.6. Authorized Shares. The Company agrees that all Common Stock which may be
delivered upon conversion of this Note, upon such delivery, will have been duly authorized and
validly issued and will be fully paid and nonassessable (and shall be issued out of
the Company’s authorized but unissued Common Stock) and, except as provided in Section 3.7,
the Company will pay all taxes, liens and charges with respect to the issue thereof.

          3.7. Taxes Upon Issuance. Except as provided in the next sentence, the Company will
pay any and all taxes and duties that may be payable in respect of the issue or delivery of Common
Stock on conversion of this Note. The Company shall not, however, be required to pay any tax or
duty which may be payable in respect of any transfer involved in the issue and delivery of Common
Stock in a name other than that of the holder of this Note, and no such issue or delivery shall be
made unless and until the person requesting such issue has paid to the Company the amount of any
such tax or duty, or has established to the satisfaction of the Company that such tax or duty has
been paid.

          3.8. Registration Rights. The Company hereby acknowledges is obligation to file a
registration statement with the Commission for the resale of the Common Stock issuable upon
conversion of this Note as contemplated by Schedule A of the Purchase Agreement.

          3.9. Securities Filings; Listing of Shares. The Company will effect all registrations
with, and obtain all approvals by, all governmental authorities that may be necessary under any
United States Federal or state law (including the Securities Act, the Securities Exchange Act of
1934, as amended, and state securities and Blue Sky laws) for the Common Stock issuable upon
conversion of this Note to be lawfully issued and delivered as provided herein, and thereafter
publicly traded (if permissible under the Securities Act) and qualified or listed as contemplated
by clause (ii) (it being understood that the Company shall not be required to register the offer,
sale or resale of Common Stock issuable on conversion hereof under the Securities Act except
pursuant to the Purchase Agreement and this Note); and (ii) if required, will list the Common Stock
required to be issued and delivered upon conversion of the Note, prior to such issuance or
delivery, on each national securities exchange on which outstanding Common Stock is listed or
quoted at the time of such delivery, or if the Common Stock is not then listed on any securities
exchange, to qualify the Common Stock for quotation on the Nasdaq National Market or such other
inter-dealer quotation system, if any, on which the Common Stock is then quoted.

          3.10. Satisfaction of Obligations. Upon payment in full or the conversion of the
entire principal amount and any unpaid and accrued interest due under this Note, and delivery of
the certificates representing the Conversion Shares in accordance with the provisions of this
Section 3, the Company shall be forever released from all obligations and liabilities hereunder.

     4. Default.

          4.1. Events of Default. The occurrence of any one or more of the following events
shall constitute an “Event of Default” hereunder:

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               (a) any failure by the Company to pay any amount payable in cash hereunder, in accordance with
the terms hereof which default is not cured within five (5) business days following written notice
thereof from the Holder; or

               (b) any failure by the Company to issue any securities issuable hereunder, in accordance with
the terms hereof; or

               (c) the Company (i) has an order for relief entered against it under the federal Bankruptcy
Code, (ii) makes an assignment for the benefit of its creditors, (iii) applies for or seeks the
appointment a receiver, liquidator, assignee, trustee or other similar official for it or for any
substantial part of its property or any such official is appointed, other than upon Company’s
request, and such unrequested appointment continues for thirty (30) days, (iv) institutes
proceedings seeking an order for relief under the federal Bankruptcy Code or seeking to adjudicate
it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization,
arrangement, adjustment or composition of it or any of its debts under other applicable federal or
state law relating to creditor rights and remedies, or any such proceeding is filed against it,
other than upon the Company’s request, and such unrequested proceeding continues undismissed or
unstayed for thirty (30) days, or (v) takes corporate action in furtherance of any of the foregoing
actions.

          4.2. Remedies. Upon the occurrence of an Event of Default, Holder shall have the
right to (i) accelerate the outstanding principal amount and any unpaid and accrued interest
hereunder, and (ii) enforce this Note by exercise of the rights and remedies granted to it by
applicable law. Upon the occurrence of an Event of Default described in Section 4.1(c),
immediately and without notice, the outstanding principal amount and any unpaid and accrued
interest hereunder shall automatically become immediately due and payable, without presentment,
demand, protest or any other notice of any kind, all of which are hereby expressly waived. The
Company shall pay all costs and expenses, including, without limitation, reasonable attorneys’ fees
and court costs, incurred or expended by the Holder in enforcing or collecting this Note as a
result of an Event of Default or the protection or prescription of any rights of Holder hereunder.
The Company hereby waives demand, notice, presentment, protest and notice of dishonor, diligence in
collection and notice of intent to accelerate maturity.

          4.3. Waiver; Cumulative Remedies. No course of dealing or any delay or failure to
exercise any right hereunder on the Holder’s part shall operate as a waiver of such right or
otherwise prejudice the Holder’s rights, powers or remedies. No single or partial waiver by the
Holder of any provision of this Note or of any breach or default hereunder or of any right or
remedy shall operate as a waiver of any other provision, breach, default right or remedy or of the
same provision, breach, default, right or remedy on a future occasion. The Holder’s rights and
remedies are cumulative and are in addition to all rights and remedies which the Holder may have in
law or in equity or by statute or otherwise.

     5. Amendments. This Note may not be amended or modified, nor may any of its terms be
waived, except by written instruments signed by the Company and the Holder and then only to the
extent set forth therein.

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     6. Severability. If any provision of this Note is determined to be invalid, illegal
or unenforceable, in whole or in part, the validity, legality and enforceability of any of the
remaining provisions or portions of this Note shall not in any way be affected or impaired thereby.

     7. Notices. Any notice or other communication required or desired to be given
hereunder shall be in the form and manner specified below, and shall be addressed to the party to
be notified as follows:

	 	 	 	 	 
	

	 	If to Holder:
	 	CyOptics, Inc.
	

	 	 	 	7360 Windsor Drive
	

	 	 	 	Allentown, PA 18106
	

	 	 	 	Attention: Chief Executive Officer
	 
	 	 	 	 
	

	 	with copy to:
	 	Wilson Sonsini Goodrich & Rosati, P.C.
	

	 	 	 	650 Page Mill Road
	

	 	 	 	Palo Alto, CA 94304-1050
	

	 	 	 	Attention: Caine T. Moss
	 
	 	 	 	 
	

	 	If to the Company:
	 	Finisar Corporation
	

	 	 	 	1308 Moffett Park Drive
	

	 	 	 	Sunnyvale, CA 94089
	

	 	 	 	Attn: Chief Financial Officer
	

	 	 	 	Telecopy: (408) 541-4154

or to such other address as each party designates to the other by notice in the manner herein
prescribed. Notice shall be deemed given hereunder if (i) delivered personally or otherwise
actually received, (ii) sent by overnight delivery service, (iii) mailed by first-class United
States mail, postage prepaid, registered or certified, with return receipt requested, or (iv)
transmitted by facsimile transmission (and confirmed by a copy delivered in accordance with clauses
(i), (ii) or (iii). Notice mailed as provided in clause (iii) above shall be effective upon the
expiration of three (3) business days after its deposit in the United States mail. Notice given in
any other manner described in this section shall be effective upon receipt by the addressee
thereof; provided, however, that if any notice is tendered to an addressee and delivery thereof is
refused by such addressee, such notice shall be effective upon such tender unless expressly set
forth in such notice.

     8. Replacement. Upon the Company’s receipt of reasonably satisfactory evidence of the
loss, theft, destruction or mutilation of this Note and (i) in the case of any such loss theft or
destruction, upon delivery of indemnity reasonably satisfactory to the Company in form and amount,
or (ii) in the case of any such mutilation, upon surrender of this Note for cancellation, the
Company, at its expense, shall execute and deliver, in lieu thereof, a new Note.

     9. Legal Fees. In the event of any legal action to enforce the rights of the Holder
or the Company, the party prevailing in such action shall be entitled, in addition to such other
relief

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as may be granted, all reasonable costs and expenses, including reasonable attorneys’ fees,
incurred in such action.

     10. Assignment. Neither this Note nor any of the rights, interests or obligations
hereunder may be assigned, by operation of law or otherwise, in whole or in part, by the Company,
without the prior written consent of the Holder, or by the Holder, without the prior written
consent of the Company, which consent shall not be unreasonably withheld.

     11. No Rights as Stockholder. This Note, as such, shall not entitle the Holder to any
rights as a stockholder of the Company.

     12. Headings. The descriptive headings in this Note are inserted for convenience only
and do not constitute a part of this Note.

     13. Governing Law. The validity, meaning and effect of this Note shall be determined
in accordance with the laws of the State of California, without regard to principles of conflicts
of law.

     14. Binding Effect. This Note shall be binding upon, and shall inure to the benefit
of, the Company and the Holder and their respective successors and assigns.

     15. Time. Time is of the essence hereunder.

[The remainder of this page is intentionally left blank]

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     IN WITNESS WHEREOF, the Company has duly caused this Note to be signed in its name and on its
behalf by its duly authorized officer as of the date hereinabove written.

	 	 	 
	

	 	FINISAR CORPORATION
	 
	 	 
	

	 	By: /s/ Jerry Rawls
	 
	 	 
	

	 	Name: Jerry Rawls
	 
	 	 
	

	 	Title: Chief Executive
Officer

AGREED AND ACCEPTED:

CyOptics, Inc.

/s/ Ettore J. Coringrato

Ettore J. Coringrato, Chief Executive Officer

8FIRST AMENDMENT

                                       TO

                         RECEIVABLES TRANSFER AGREEMENT

                  THIS FIRST AMENDMENT TO RECEIVABLES TRANSFER AGREEMENT, dated
as of May 11, 2005 (this "FIRST AMENDMENT"), is entered into among MRFC, INC., a
Delaware corporation ("TRANSFEROR"), METALDYNE CORPORATION, a Delaware
Corporation, individually, in its capacity as "Guarantor" and in its capacity as
collection agent (in such capacity, the "COLLECTION AGENT"), the Purchasers
signatory to the Transfer Agreement referred to below, and GENERAL ELECTRIC
CAPITAL CORPORATION, in its capacity as administrative agent under the Transfer
Agreement referred to below (in such capacity, "AGENT"), and relates to that
certain Receivables Transfer Agreement, dated as of April 29, 2005 (as amended,
restated, supplemented or otherwise modified from time to time, the "TRANSFER
AGREEMENT"), among Transferor, Collection Agent, the other persons from time to
time party thereto as Purchasers, and Agent. Capitalized terms used and not
otherwise defined herein have the respective meanings assigned to them in the
Transfer Agreement.

                              W I T N E S S E T H:

                  WHEREAS, the parties hereto desire to amend Schedule C to the
Transfer Agreement pursuant to the terms and conditions set forth herein;

                  NOW, THEREFORE, in consideration of the above premises,
Transferor, Collection Agent, Agent, and Purchasers agree as follows:

            1.    Amendments to Schedule C of the Transfer Agreement. As of the
First Amendment Effective Date (defined below), and subject to the terms and
conditions of this First Amendment, Schedule C to the Receivables Transfer
Agreement shall be amended by (a) deleting the language "(ii) such Obligor shall
be rated at least BBB- and Baa3 by both S&P and Moody's, respectively" set forth
under the heading "Conditions" with respect to General Motors Corporation and by
substituting, in lieu thereof, the language "(ii) such Obligor shall be rated at
least BB and Ba2 by both S&P and Moody's, respectively", and (b) deleting the
language "(ii) such Obligor shall be rated at least BBB- and Baa3 by both S&P
and Moody's, respectively" set forth under the heading "Conditions" with respect
to Ford Motor Company and by substituting, in lieu thereof, the language "(ii)
such Obligor shall be rated at least BB+ and Ba1 by both S&P and Moody's,
respectively"; provided, however, that if the Intercreditor Condition is not
satisfied on or before May 31, 2005, the foregoing amendments set forth in this
Section 1 shall cease to be effective and the language of Schedule C to the
Receivables Transfer Agreement shall revert to the provisions in existence
immediately prior to the First Amendment Effective Date.

            2.    No Other Amendments. Except for the amendments set forth in
Section 1 of this First Amendment, the Transfer Agreement shall remain unchanged
and in full force and effect.

            3.    Representations and Warranties. Each of Transferor and
Collection Agent hereby represents and warrants to the Agent and the Purchasers
that, as of the First Amendment Effective Date and after giving effect to this
First Amendment:

           (a)    The execution, delivery and performance by each of Transferor
and Collection Agent of this First Amendment (i) are within such Person's
corporate power and (ii) have been duly authorized by all necessary or proper
corporate and shareholder action.

           (b)    When duly executed and delivered by each of Transferor and
Collection Agent, this First Amendment shall constitute a legal, valid and
binding obligation of such Person enforceable against it in accordance with its
terms, subject to applicable bankruptcy, insolvency, reorganization, fraudulent
conveyance, moratorium or other similar laws affecting the rights of creditors
generally and general equitable principles (whether considered in a proceeding
at law or in equity).

          (c)     The execution, delivery and performance by Transferor and
Collection Agent of this First Amendment will not contravene any provision of
applicable law, rule or regulation or of the articles of incorporation or bylaws
of Transferor or Collection Agent or constitute a default under any agreement or
any judgement, injunction, order, writ, decree or other instrument binding upon
Transferor or Collection Agent or result in the creation or imposition of any
Adverse Claim on the assets of Transferor or Collection Agent (except as
contemplated by Section 2.09 of the Transfer Agreement).

          (d)     The execution, delivery and performance by Transferor and
Collection Agent of this First Amendment does not require any action by or in
respect of, or filing with, any Official Body or official thereof, other than
has been obtained or made and other than as will be made on Form 8-K with the
Securities and Exchange Commission, which Form 8-K will disclose the
transactions contemplated by this First Amendment.

          (e)     All of the representations and warranties of Transferor and
Collection Agent contained in this First Amendment, the Transfer Agreement (as
amended hereby) and the other Transaction Documents are true and correct in all
material respects on and as of the First Amendment Effective Date, as if then
made (other than representations and warranties which expressly speak as of a
different date, which are true and correct in all material respects as of that
date).

          (f)     All of the representations and warranties of the Sellers
contained in the Receivables Purchase Agreement and the other Transaction
Documents are true and correct in all material respects on and as of the First
Amendment Effective Date, as if then made (other than representations and
warranties which expressly speak as of a different date, which are true and
correct in all material respects as of that date).

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          (g)     None of the articles of organization, bylaws or analogous
documents of Transferor, Collection Agent or any Seller has been amended since
the last copies of such documents delivered and certified to Agent.

          (h)     Both immediately prior to and after giving effect to this
First Amendment, no Termination Event or Potential Termination Event has
occurred or is continuing.

          4.      First Amendment Effective Date. This First Amendment shall
become effective as of the date first written above (the "FIRST AMENDMENT
EFFECTIVE DATE") upon the satisfaction of each of the following conditions, in
each case, in form and substance satisfactory to Agent:

          (a)     Agent shall have received counterparts hereof executed by
Transferor, Collection Agent, the Purchasers and Agent;

          (b)     Agent shall have received an amendment fee in the amount of
$75,000, which fee shall be fully earned and non-refundable when paid.

          (c)     All of the representations and warranties of Transferor and
Collection Agent contained in this First Amendment, the Transfer Agreement and
the other Transaction Documents (as the same are amended hereby) shall be true
and correct in all material respects on and as of the First Amendment Effective
Date, as if then made (other than representations and warranties which expressly
speak as of a different date, which shall be true and correct in all material
respects as of that date);

          (d)     All of the representations and warranties of the Sellers
contained in the Receivables Purchase Agreement and the other Transaction
Documents shall be true and correct in all material respects on and as of the
First Amendment Effective Date, as if then made (other than representations and
warranties which expressly speak as of a different date, which shall be true and
correct in all material respects as of that date); and

          (e)     Both immediately prior to and after giving effect to the First
Amendment, no Termination Event or Potential Termination Event shall have
occurred and be continuing.

          5.      Release.

          (a)     Transferor and Collection Agent acknowledges that the Agent
and the Purchasers would not enter into this First Amendment without
Transferor's and Collection Agent's assurance that neither of them has any claim
against the Agent or any Purchaser or any other Indemnified Party. Each of
Transferor and Collection Agent, for itself and on behalf of its officers and
directors, and its respective predecessors, successors and assigns
(collectively, the "RELEASORS") releases each of the Agent, the Purchasers and
each other Indemnified Party from any known or unknown claims arising out of or
related to the Transaction Documents or the transactions contemplated thereby
which any Releasor now has against any of the Agent, the Purchasers or any other

                                       3

Indemnified Party of any nature, including any claims that any Releasor, or any
Releasor's successors, counsel and advisors may in the future discover they
would have had now if they had known facts not now known to them, whether
founded in contract, in tort or pursuant to any other theory of liability.

          (b)     The provisions, waivers and releases set forth in this section
are binding upon each Releasor. The provisions, waivers and releases of this
section shall inure to the benefit of each of the Agent, the Purchasers and each
other Indemnified Party.

          (c)     The provisions of this section shall survive reduction to zero
of the Net Investments, full performance of all of the terms of this First
Amendment, the Transfer Agreement and the other Transaction Documents and/or any
action by the Agent or any Purchaser to exercise any remedy available under the
Transaction Documents, applicable law or otherwise.

          (d)     Each of Transferor and Collection Agent warrants and
represents that such Person is the sole and lawful owner of all right, title and
interest in and to all of the claims released hereby and such Person has not
heretofore voluntarily, by operation of law or otherwise, assigned or
transferred or purported to assign or transfer to any person any such claim or
any portion thereof. Each of Transferor and Collection Agent shall indemnify and
hold harmless each of the Agent, the Purchasers and the other Indemnified Party
from and against any claim, demand, damage, debt, liability (including payment
of reasonable attorneys' fees and costs actually incurred whether or not
litigation is commenced) based on or arising out of any such assignment or
transfer.

          6.      Miscellaneous. This First Amendment is a Transaction Document.
The headings herein are for convenience of reference only and shall not alter or
otherwise affect the meaning hereof.

          7.      Counterparts. This First Amendment may be executed in any
number of separate original or facsimile counterparts, each of which shall
collectively and separately constitute one agreement.

          8.      GOVERNING LAW. THIS FIRST AMENDMENT, AND ALL MATTERS OF
CONSTRUCTION, VALIDITY AND PERFORMANCE HEREOF, SHALL BE GOVERNED BY, AND
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
APPLICABLE TO CONTRACTS MADE AND PERFORMED IN THAT STATE AND ANY APPLICABLE LAWS
OF THE UNITED STATES OF AMERICA.

          9.      No Strict Construction. The parties hereto have participated
jointly in the negotiation and drafting of this First Amendment. In the event an
ambiguity or question of intent or interpretation arises, this First Amendment
shall be construed as if drafted jointly by the parties hereto and no
presumption or burden of proof shall arise favoring or disfavoring any party by
virtue of the authorship of any provisions of this First Amendment.

                                       4

                            [signature page follows]

                                       5

                  IN WITNESS WHEREOF, each of the parties hereto has caused this
First Amendment to be executed by their respective officers thereunto duly
authorized as of the date first above written.

                                      MRFC, INC., AS TRANSFEROR

                                      By:  /s/ Karen A. Radtke
                                           -------------------------------------
                                           Name:  Karen A. Radtke
                                           Title:  Vice President and Treasurer

                                      METALDYNE CORPORATION., INDIVIDUALLY, AS
                                      GUARANTOR AND AS COLLECTION AGENT

                                      By:  /s/ Karen A. Radtke
                                           -------------------------------------
                                           Name:  Karen A. Radtke
                                           Title:  Vice President and Treasurer

                                       6

                                      GENERAL ELECTRIC CAPITAL CORPORATION,
                                      AS PURCHASER

                                      By:      /s/ Curtis J. Correa
                                               ---------------------------------
                                               Name: Curtis J. Correa
                                               Title: Duly Authorized Signatory

                                      GENERAL ELECTRIC CAPITAL CORPORATION,
                                      AS AGENT

                                      By:      /s/ Curtis J. Correa
                                               ---------------------------------
                                               Name: Curtis J. Correa
                                               Title: Duly Authorized Signatory

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