Document:

ex_105684.htm

Exhibit 10.7

 

AMENDMENT NO. 1 TO THE 

KIMCO REALTY CORPORATION

2010 EQUITY PARTICIPATION PLAN

 

THIS AMENDMENT NO. 1 TO THE KIMCO REALTY CORPORATION 2010 EQUITY PARTICIPATION PLAN (this “Amendment”), is made and adopted as of February 20, 2018 (the “Effective Date”), by the Executive Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Kimco Realty Corporation (the “Company”). Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to them in the Plan (as defined below).

 

WHEREAS, the Company maintains the Kimco Realty Corporation 2010 Equity Participation Plan (as it may be amended or restated from time to time, the “Plan”);

 

WHEREAS, pursuant to the Plan, the Plan may be amended by the Board or the Committee at any time or from time to time; and

 

WHEREAS, the Committee desires to amend the Plan as set forth herein.

 

NOW, THEREFORE, BE IT RESOLVED, that the Plan be and hereby is amended as follows:

 

	 	
			1.

				
			With respect to Awards (as defined in the Plan) granted on or after the Effective Date, Section 2.45 of the Plan is hereby amended by deleting such section in its entirety and replacing it with the following:

			

 

“‘Retirement’ of a Holder shall mean his Termination of Service on or after his sixty-fifth (65th) birthday or his completion of thirty (30) full (not necessarily consecutive) years of employment, consultancy or directorship, as the case may be, with the Company.”

 

	 	
			2.

				
			This Amendment shall be and is hereby incorporated in and forms a part of the Plan.

			

 

	 	
			3.

				
			Except as set forth herein, the Plan shall remain in full force and effect.

			

 

 

 

*     *     *

Executed February 20, 2018.

KIMCO REALTY CORPORATION

 

 

 

By:     /s/ Paul Westbrook                                

Name:     Paul Westbrook

Title:       Vice President and Chief Accounting 

 OfficerExhibit 10.1

 

MB EQUIPMENT
FINANCE, LLC

 

 MASTER
LEASE AGREEMENT NO. 100521

  

THIS MASTER LEASE
AGREEMENT (this "Lease") is made as of November 23, 2016, between MB EQUIPMENT FINANCE, LLC, its successors and
permitted assigns ("Lessor"), and TOWER AUTOMOTIVE OPERATIONS USA I, LLC and TOWER AUTOMOTIVE HOLDINGS USA, LLC,
(each such entity and its successors and permitted assigns are a Co-Lessee and collectively the "Lessee").

 

Lessee desires to
lease from Lessor the equipment and other property (the "Equipment") described in each Equipment Schedule executed
pursuant to this Lease (each, a "Schedule") incorporating by reference the terms and conditions of this Lease
(the term “Lease” shall also include any Riders to this Lease entered into with respect to such Schedule). Certain
definitions and construction of certain of the terms used in this Lease are provided in Section 18 hereof.

 

For good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Lease agree as follows:

 

1.    
AGREEMENT TO LEASE; TERM. This Lease is effective as of the date specified above. By entering into a Schedule, Lessor
leases the Equipment described therein to Lessee, and Lessee leases such Equipment from Lessor, in each case, subject to the terms
and conditions in this Lease and such Schedule and all of the other documents and agreements executed in connection herewith (collectively,
the “Lease Documents”). Each Schedule, incorporating the terms and conditions of this Lease, will constitute
a separate instrument of lease. The term of lease with respect to each item of Equipment leased under a Schedule shall commence
on the date of execution of such Schedule and continue for the term provided in that Schedule.

 

2.       RENT.
Lessee shall pay Lessor (a) the rental installments (“Basic Rent”) as and when specified in each Schedule, without
demand, and (b) all of the other amounts payable in accordance with this Lease, such Schedule and/or any of the other Lease Documents
(“Other Payments”, and together with the Basic Rent, collectively, the "Rent"). Upon Lessee’s
execution thereof, the related Schedule shall constitute a non-cancelable net lease, and Lessee's obligation to pay Rent, and otherwise
to perform its obligations under or with respect to such Schedule and all of the other Lease Documents, are and shall be absolute
and unconditional and shall not be affected by any circumstances whatsoever, including any right of setoff, counterclaim, recoupment,
deduction, defense or other right which Lessee may have against Lessor, the manufacturer or vendor of the Equipment (the "Suppliers"),
or anyone else, for any reason whatsoever (each, an “Abatement”). Lessee agrees that all Rent shall be paid
in accordance with Lessor’s or Assignee’s written direction. Time is of the essence. If any Rent is not paid within
five (5) days of the due date, Lessee shall pay a late charge equal to five (5) percent of the amount in arrears.

 

3.       REPRESENTATIONS,
WARRANTIES AND AGREEMENTS OF LESSEE. Lessee represents, warrants and agrees that, as of the effective date of this Lease and
of each Schedule: (a) Lessee has the form of business organization indicated, and is and will remain duly organized and existing
in good standing under the laws of the state specified, under Lessee’s signature and is duly qualified to do business wherever
necessary to perform its obligations under the Lease Documents, including each jurisdiction in which the Equipment is or will be
located. Lessee’s legal name is as shown in the preamble of this Lease; and Lessee’s Federal Employer Identification
Number is set forth under Lessee’s signature. (b) The Lease Documents (1) have been duly authorized by all necessary action
consistent with Lessee’s form of organization, (2) do not require the approval of, or giving notice to, any governmental
authority, (3) do not contravene or constitute a default under any applicable law, Lessee’s organizational documents, or
any agreement, indenture, or other instrument to which Lessee is a party or by which it may be bound, and (4) constitute legal,
valid and binding obligations of Lessee enforceable against Lessee, in accordance with the terms thereof. (c) There are no pending
actions or proceedings to which Lessee is a party, and there are no other pending or threatened actions or proceedings of which
Lessee has knowledge, before any court, arbitrator or administrative agency, which, either individually or in the aggregate, would
have a Material Adverse Effect. As used herein, "Material Adverse Effect" shall mean (i) a materially adverse
effect on the business, condition (financial or otherwise), operations, performance or properties of Lessee, or on Lessor’s
rights and remedies under this Lease, or (ii) a material impairment of the ability of Lessee to perform its obligations under or
remain in compliance with such Schedule or any of the other Lease Documents. Further, Lessee is not in default under any financial
or other material agreement that, either individually, or in the aggregate, would have a Material Adverse Effect. (d) All of the
Equipment covered by such Schedule is located solely in the jurisdiction(s) specified in such Schedule. (e) Under the applicable
laws of each such jurisdiction, such Equipment consists (and shall continue to consist) solely of personal property and not fixtures.
Such Equipment is removable from and is not essential to the premises at which it is located. (f) The financial statements of Lessee
(copies of which have been furnished to Lessor) have been prepared in accordance with generally accepted accounting principles
consistently applied ("GAAP"), and fairly present Lessee's financial condition and the results of its operations
as of the date of and for the period covered by such statements, and since the date of such statements there has been no material
adverse change in such conditions or operations. (g) With respect to any Collateral, Lessee has good title to, rights in, and/or
power to transfer all of the same. (h) The Supplier is not an affiliate of Lessee. (i) The Supply Contract (as such term is hereinafter
defined) represents an arms’ length transaction and the purchase price for the Equipment specified therein is the amount
obtainable in an arms’ length transaction between a willing and informed buyer and a willing and informed seller under no
compulsion to sell.

 

     

     

    

  

4.       FURTHER
ASSURANCES AND OTHER COVENANTS. Lessee agrees as follows: (a) if Tower International, Inc. or its permitted successors and
assigns (collectively, the “Parent”) is no longer subject to the reporting requirements of, or no longer has
a class of equity securities registered under, the Securities Act of 1933 or the Securities Exchange Act of 1934, Lessee will furnish
Lessor with (1) Lessee's balance sheet, statement of income and statement of retained earnings, prepared in accordance with GAAP,
certified by a recognized firm of certified public accountants, within ninety (90) days of the close of each fiscal year of Lessee,
(2) Lessee’s quarterly financial report certified by the chief financial officer of Lessee, within sixty (60) days of the
close of each fiscal quarter of Lessee, and (3) all of Lessee’s Forms 10-K and 10-Q, if any, filed with the Securities and
Exchange Commission (“SEC”) as and when filed (by furnishing these SEC forms, or making them publicly available
in electronic form, in each case, within the time periods set forth in clauses (1) and (2), Lessee shall be deemed to have satisfied
the requirements of clauses (1), (2) and (3)). (b) Lessee shall obtain and deliver to Lessor and/or promptly execute or otherwise
authenticate any documents, filings, waivers (including any landlord and mortgagee waivers), releases and other records, and will
take such further action as Lessor may reasonably request in furtherance of Lessor’s rights under any of the Lease Documents.
Lessee will deliver to Lessor any additional information reasonably requested by Lessor relating to the Equipment and/or the general
financial condition of Lessee. Lessee irrevocably authorizes Lessor to file UCC financing statements (“UCCs“),
and other filings with respect to the Equipment or any Collateral. Without Lessor’s prior written consent, Lessee agrees
not to file any information statements or termination statements or partial releases with respect to any UCCs filed by Lessor pursuant
to this Lease. (c) Lessee shall provide written notice to Lessor: (1) ten (10) business days prior to any change in Lessee’s
name or jurisdiction or form of organization; (2) promptly upon the occurrence of any Event of Default or event which, with the
lapse of time or the giving of notice, or both, would become an Event of Default (a "Default"); and (3) promptly
upon Lessee becoming aware of any alleged violation of applicable law relating to the Equipment or this Lease. (d) Lessee has been
advised by Lessor that the USA Patriot Act establishes minimum standards of account information to be collected and maintained
by Lessor, and that to help the government fight the funding of terrorism and money laundering activities, Federal law requires
all financial institutions to obtain, verify and record information that identifies each person who opens an account; and specifically,
this means that when Lessee executes this Lease, Lessor may ask for Lessee’s name and address, the date of birth of the officers
executing this Lease, and other information that will allow Lessor to identify Lessee; and that Lessor may also ask to see the
driver’s license or other identifying documents of the officers of Lessee executing this Lease. (e) Lessee is and will remain
in full compliance with all applicable laws including, without limitation, (i) ensuring that no person who owns a controlling interest
in or otherwise controls Lessee is or shall be (A) listed on the Specially Designated Nationals and Blocked Person List maintained
by the Office of Foreign Assets Control (“OFAC”), Department of the Treasury, and/or any other similar lists
maintained by OFAC pursuant to any authorizing statute, Executive Order or regulation, or (B) a person designated under Sections
1(b), (c) or (d) of Executive Order No. 13224 (September 23, 2001), any related enabling legislation or any other similar Executive
Orders, and (ii) compliance with all applicable Bank Secrecy Act (“BSA”) laws, regulations and government guidance
on BSA compliance and on the prevention and detection of money laundering violations.

 

5.       CONDITIONS
PRECEDENT. Lessor's agreement to purchase and lease any Equipment under a Schedule, is conditioned upon Lessor's determination
that all of the following have been satisfied: (a) Lessor having received the following, in form and substance reasonably satisfactory
to Lessor: (1) evidence as to due compliance with the insurance provisions of Section 11; (2) UCCs, real property waivers and all
other filings required by Lessor; (3) a certificate of an appropriate officer of Lessee certifying: (A) resolutions duly authorizing
the transactions contemplated in the applicable Lease Documents, and (B) the incumbency and signature of the officers of Lessee
authorized to execute such documents; (4) the only manually executed original of the Schedule, and counterpart originals of all
other Lease Documents; (5) all purchase documents pertaining to the Equipment (collectively, the "Supply Contract");
(6) if applicable, the Master Lease Guaranty (the “Guaranty”), in form and substance satisfactory to Lessor,
duly executed by the guarantor specified therein (if more than one, collectively, the “Guarantor”); (7) if applicable,
a certificate of Guarantor’s secretary certifying: (A) resolutions duly authorizing the undertaking to guarantee the payment
and performance of the obligations of Lessee under this Lease, and (B) the incumbency and signature of the officers of Guarantor
authorized to execute the Guaranty; and (9) such other documents, agreements, instruments, certificates, opinions, and assurances,
as Lessor reasonably may require. (b) All representations and warranties provided by Lessee in favor of Lessor in any of the Lease
Documents shall be true and correct in all material respects on the effective date of the related Schedule (Lessee's execution
and delivery of the Schedule shall constitute Lessee’s acknowledgment of the same). (c) There shall be no Default or Event
of Default under the Schedule or any other Lease Documents. The Equipment shall have been delivered to and accepted by Lessee,
as evidenced by the Schedule, and shall be in the condition and repair required hereby; and on the effective date of such Schedule
Lessor shall have received good title to the Equipment described therein, free and clear of any claims, liens, attachments, rights
of others and legal processes ("Liens").

 

6.       ACCEPTANCE
UNDER LEASE. Upon delivery, Lessee shall inspect and, if conforming to the condition required by the applicable Supply Contract,
accept the Equipment and execute and deliver to Lessor a Schedule describing such Equipment. The Schedule will evidence Lessee's
unconditional and irrevocable acceptance under the Schedule of the Equipment described therein. However, if Lessee fails to accept
delivery of any item of the Equipment, or accepts such Equipment but fails to satisfy any or all of the other conditions set forth
in Section 5, Lessor shall have no obligation to purchase or lease such Equipment. In such event, Lessor’s rights shall include,
among other things, the right to demand that Lessee (a) fully assume all obligations as purchaser of the Equipment, with the effect
of causing Lessor to be released from any liability relating thereto, (b) immediately remit to Lessor an amount sufficient to reimburse
it for all advance payments, costs, taxes or other charges paid or incurred with respect to the Equipment (including any of such
amounts paid by Lessor to Supplier under the Supply Contract or as a reimbursement to Lessee), together with interest at the Default
Rate accruing from the date or dates such amounts were paid by Lessor until indefeasibly repaid by Lessee in full, and (c) take
all other actions necessary to accomplish such assumption.

 

    	 	2	 

     

    

7.       USE
AND MAINTENANCE. (a) Lessee shall (1) use the Equipment solely in the continental United States and in the conduct of its business,
for the purpose for which the Equipment was designed, in a careful and proper manner, and shall not permanently discontinue use
of the Equipment; (2) operate, maintain, service and repair the Equipment, and maintain all records and other materials relating
thereto, (A) in accordance and consistent with (i) the Supplier’s recommendations and all maintenance and operating manuals
or service agreements, whenever furnished or entered into, including any subsequent amendments or replacements thereof, issued
by the Supplier or service provider, (ii) the requirements of all applicable insurance policies, (iii) the Supply Contract, so
as to preserve all of Lessee's and Lessor's rights thereunder, including all rights to any warranties, indemnities or other rights
or remedies, (iv) all applicable laws, and (v) the prudent practice of other similar companies in the same business as Lessee,
but in any event, to no lesser standard than that employed by Lessee for comparable equipment owned or leased by it; and (B) without
limiting the foregoing, so as to cause the Equipment to be in good repair and operating condition and in at least the same condition
as when delivered to Lessee hereunder, except for ordinary wear and tear resulting despite Lessee's full compliance with the terms
hereof; (3) provide written notice to Lessor not less than thirty (30) days after any change of the location of any Equipment (or
the location of the principal garage of any Equipment, to the extent that such Equipment is mobile equipment) as specified in the
Schedule; and (4) not attach or incorporate the Equipment to or in any other property in such a manner that the Equipment may be
deemed to have become an accession to or a part of such other property. (b) Within a reasonable time, Lessee will replace any parts
of the Equipment which become worn out, lost, destroyed, damaged beyond repair or otherwise unfit for use, by new or reconditioned
replacement parts which are free and clear of all Liens and have a value, utility and remaining useful life at least equal to the
parts replaced (assuming that they were in the condition required by this Lease). Any modification or addition to the Equipment
that is required by this Lease shall be made by Lessee. Title to all such parts, modifications and additions to the Equipment immediately
shall vest in Lessor, without any further action by Lessor or any other person, and they shall be deemed incorporated in the Equipment
for all purposes of the related Schedule. Unless replaced in accordance with this Section, Lessee shall not remove any parts originally
or from time to time attached to the Equipment, if such parts are essential to the operation of the Equipment, are required by
any other provision of this Lease or cannot be detached from the Equipment without materially interfering with the operation of
the Equipment or adversely affecting the value, utility and remaining useful life which the Equipment would have had without the
addition of such parts. Except as permitted in this Section, Lessee shall not make any material alterations to the Equipment that
diminishes its use or value. (c) Upon forty-eight (48) hours' notice, Lessee shall afford Lessor and/or its designated representatives
access to the premises where the Equipment is located for the purpose of inspecting such Equipment and all applicable maintenance
or other records relating thereto at any reasonable time during normal business hours; provided, however, if a Default or Event
of Default shall have occurred and then be continuing, no notice of any inspection by Lessor shall be required. If any discrepancies
are found as they pertain to the general condition of the Equipment, Lessor will communicate these discrepancies to Lessee in writing.
Lessee shall then have thirty (30) days to rectify these discrepancies at its sole expense. Lessee shall pay all expenses of a
re-inspection by Lessor’s appointed representative, if corrective measures were required.

 

8.       DISCLAIMER;
QUIET ENJOYMENT. (a) THE EQUIPMENT IS LEASED HEREUNDER “AS IS, WHERE IS”. LESSOR SHALL NOT BE DEEMED TO HAVE MADE,
AND HEREBY DISCLAIMS, ANY REPRESENTATION OR WARRANTY, EITHER EXPRESS OR IMPLIED, AS TO THE EQUIPMENT, INCLUDING ANY PART, OR ANY
MATTER WHATSOEVER, INCLUDING, AS TO EACH ITEM OF EQUIPMENT, ITS DESIGN, CONDITION, MERCHANTABILITY, FITNESS FOR ANY PARTICULAR
PURPOSE, TITLE, ABSENCE OF ANY PATENT, TRADEMARK OR COPYRIGHT INFRINGEMENT OR LATENT DEFECT (WHETHER OR NOT DISCOVERABLE BY LESSEE),
COMPLIANCE OF SUCH ITEM WITH ANY APPLICABLE LAW, CONFORMITY OF SUCH ITEM TO THE PROVISIONS AND SPECIFICATIONS OF ANY PURCHASE DOCUMENT
OR TO THE DESCRIPTION SET FORTH IN THE RELATED SCHEDULE OR ANY OF THE OTHER LEASE DOCUMENTS, OR ANY INTERFERENCE OR INFRINGEMENT
(EXCEPT AS EXPRESSLY PROVIDED IN SECTION 8(b)), OR ARISING FROM ANY COURSE OF DEALING OR USAGE OF TRADE, NOR SHALL LESSOR BE LIABLE,
FOR ANY INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES OR FOR STRICT OR ABSOLUTE LIABILITY IN TORT; AND LESSEE HEREBY WAIVES
ANY CLAIMS ARISING OUT OF ANY OF THE FOREGOING. Without limiting the foregoing, Lessor will not be responsible to Lessee or
any other person with respect to, and Lessee agrees to bear sole responsibility for, any risk or other matter that is the subject
of Lessor’s disclaimer; and Lessor's agreement to enter into this Lease and any Schedule is in reliance upon the freedom
from and complete negation of liability or responsibility for the matters so waived or disclaimed herein or covered by the indemnity
in this Lease. So long as no Event of Default has occurred and is then continuing, Lessee may exercise Lessor’s rights, if
any, under any warranty with respect to the Equipment. Lessee’s exercise of such rights shall be at its sole risk, shall
not result in any prejudice to Lessor, and may be exercised only during the term of the related Schedule. Lessee shall not attempt
to enforce any such warranty by legal proceeding without Lessor's prior written approval. (b) Lessor warrants that during the term
of each Schedule, so long as no Event of Default has occurred and is then continuing, Lessee's possession and use of the Equipment
leased thereunder shall not be interfered with by Lessor or anyone rightfully claiming an interest through Lessor. The preceding
warranty is in lieu of all other warranties by Lessor, whether written, oral or implied, with respect to this Lease or the Equipment.
Any actual or purported breach of this warranty shall not give rise to any Abatement, but Lessee may bring a direct cause of action
against Lessor for any actual damages directly resulting from any such breach.

 

9. FEES AND TAXES. Lessee agrees
to: (a) (1) if permitted by law, file in Lessee’s own name or on Lessor’s behalf, directly with all appropriate taxing
authorities all declarations, returns, inventories and other documentation with respect to any personal property taxes (or any
other taxes in the nature of or imposed in lieu of property taxes) due or to become due with respect to the Equipment, and if not
so permitted by law, to promptly notify Lessor and provide it with all information required in order for Lessor to timely file
all such declarations, returns, inventories, or other documentation, and (2) pay on or before the date when due all such taxes
assessed, billed or otherwise payable with respect to the Equipment directly to the appropriate taxing authorities; (b) (1) pay
when due as requested by Lessor, and (2) defend and indemnify Lessor on a net after-tax basis against liability for all license
and/or registration fees, assessments, and sales, use, property, excise, privilege, value added and other taxes or other charges
or fees now or hereafter imposed by any governmental body or agency upon the Equipment or with respect to the manufacture, shipment,
purchase, ownership, delivery, installation, leasing, operation, possession, use, return, or other disposition thereof or the Rent
hereunder (other than taxes on or measured solely by the net income of Lessor (except as and to the extent indemnification for
such taxes is expressly addressed in a Schedule)); and (c) indemnify Lessor against any penalties, charges, interest or costs imposed
with respect to any items referred to in clauses (a) and (b) above (the items referred to in clauses (a), (b), and (c) above being
referred to herein as “Impositions”). Any Impositions which are not paid when due and which are paid by Lessor
shall, at Lessor's option, become immediately due from Lessee to Lessor.

 

10. INSURANCE. Upon acceptance under
a Schedule, until the Equipment is returned to Lessor in accordance with this Lease, Lessee shall maintain all-risk insurance coverage
with respect to the Equipment and, if applicable, comprehensive and collision coverage, insuring against, among other things: (a)
any casualty to the Equipment (or any portion thereof), including loss or damage due to fire and the risks normally included in
extended coverage, malicious mischief and vandalism, for not less than the full replacement value of the Equipment; and (b) any
commercial liability arising in connection with the Equipment, including both bodily injury and property damage with a combined
single limit per occurrence of not less than the amount specified in the Schedule; having a deductible reasonably satisfactory
to Lessor. Lessee shall cause to be provided to Lessor, prior to the scheduled expiration or lapse of such insurance coverage,
evidence satisfactory to Lessor of renewal or replacement coverage. The required insurance policies (including endorsements) shall
(i) be in form and amount reasonably satisfactory to Lessor, and written by insurers of recognized reputation and responsibility
satisfactory to Lessor (but such insurer shall carry a current rating by A.M. Best Company of at least "A" for a general
policyholder and a financial rating of at least "VIII"), (ii) be endorsed to name Lessor as an additional insured (but
without responsibility for premiums) and lender’s loss payee, (iii) provide that any amount payable under the required casualty
coverage shall be paid directly to Lessor as sole loss payee, and (iv) provide for thirty (30) days’ written notice by such
insurer of cancellation, material change, or non-renewal.

 

    	 	3	 

     

    

 

11. LOSS AND DAMAGE. (a) At all
times until the Equipment is returned to Lessor in accordance with this Lease, Lessee shall bear the risk of loss, theft, confiscation,
taking, unavailability, damage or partial destruction of the Equipment and shall not be released from its obligations under any
Schedule or other Lease Document in any such event. (b) Lessee shall provide prompt written notice to Lessor of any Total Loss
or any material damage to the Equipment. Any such notice must be provided together with any damage reports provided to any governmental
authority, the insurer or Supplier, and any documents pertaining to the repair of such damage, including copies of work orders,
and all invoices for related charges. (c) Without limiting any other provision hereof, Lessee shall repair all damage to any item
of Equipment from any and all causes, other than a Total Loss, so as to cause it to be in the condition and repair required by
this Lease. (d) A “Total Loss” shall be deemed to have occurred to an item of Equipment upon: (1) the actual
or constructive total loss of any item of the Equipment, (2) the loss, disappearance, theft or destruction of any item of the Equipment,
or damage to any item of the Equipment that is uneconomical to repair or renders it unfit for normal use, or (3) the condemnation,
confiscation, requisition, seizure, forfeiture or other taking of title to or use of any item of the Equipment or the imposition
of any Lien thereon by any governmental authority. On the next rent payment date following a Total Loss (a “Loss Payment
Date”), Lessee shall pay to Lessor the Basic Rent due on that date plus the Stipulated Loss Value of the item or items
of the Equipment with respect to which the Total Loss has occurred (the “Lost Equipment”), together with any
Other Payments due hereunder with respect to the Lost Equipment. Upon making such payment, (i) Lessee’s obligation to pay
future Basic Rent shall terminate solely with respect to the items of Lost Equipment so paid for, but Lessee shall remain liable
for, and pay as and when due, all Other Payments, and (ii) Lessor shall convey to Lessee or release all of Lessor’s right,
title and interest in the Lost Equipment, "AS IS WHERE IS", but subject to the requirements of any third party
insurance carrier in order to settle an insurance claim. As used in this Lease, "Stipulated Loss Value" shall
mean the product of the Total Invoice Cost of the Lost Equipment, times the percentage factor applicable to the Loss Payment Date,
as set forth in the Schedule of Stipulated Loss Values incorporated in such Schedule. After the final rent payment date of the
original term or any renewal term of a Schedule, the Stipulated Loss Value shall be determined as of the last rent payment date
during the applicable term of such Schedule, and the applicable percentage factor shall be the last percentage factor set forth
in the Schedule of Stipulated Loss Values incorporated in such Schedule. (e) Lessor shall be under no duty to Lessee to pursue
any claim against any person in connection with a Total Loss or other loss or damage. (f) If Lessor receives a payment under an
insurance policy required under this Lease in connection with any Total Loss or other loss of or damage to an item of Equipment,
and such payment is both unconditional and indefeasible, then provided Lessee shall have complied with the applicable provisions
of this Section, Lessor shall either (1) if received pursuant to a Total Loss, remit such proceeds to Lessee up to an amount equal
to the amount paid by Lessee to Lessor as the Stipulated Loss Value, or credit such proceeds against any amounts owed by Lessee
pursuant to Section 11(d), or (2) if received with respect to repairs made pursuant to Section 11(c), remit such proceeds to Lessee
up to an amount equal to the amount of the costs of repair actually incurred by Lessee, as established to Lessor’s satisfaction.

 

12. REDELIVERY. (a) Unless
Lessee has purchased the Equipment in accordance with a purchase option pursuant to the applicable Schedule, upon the expiration
or earlier cancellation or termination of any Schedule, Lessee shall return the Equipment described on such Schedule to Lessor
free and clear of all Liens whatsoever, to such place(s) within the continental United States as Lessor shall specify. Lessee shall
provide, at its expense, transit insurance for the redelivery period in an amount equal to the replacement value of such Equipment
and Lessor shall be named as the loss payee on all such policies of insurance. Lessee shall cause: (1) the Supplier’s representative
or other qualified person acceptable to Lessor (the “Designated Person”) to de-install such Equipment in accordance
with the Supplier’s specifications (as applicable) and pack such Equipment properly and in accordance with the Supplier’s
recommendations (as applicable); and (2) such Equipment to be transported in a manner consistent with the Supplier’s recommendations
and practices (as applicable). (b) Upon return, such Equipment shall be: (i) in the same condition as when delivered to Lessee
under the related Schedule, ordinary wear and tear excepted; (ii) mechanically and structurally sound, capable of performing the
functions for which such Equipment was originally designed, in accordance with the Supplier’s published and recommended specifications
(as applicable); (iii) redelivered with all component parts in good operating condition (and all components must meet or exceed
the Supplier’s minimum recommended specifications, unless otherwise agreed by Lessor in writing); (iv) redelivered with all
software and documentation necessary for the operation of such Equipment for the performance of the functions for which such Equipment
was originally designed (whether or not such software is embedded in or otherwise is a part of such Equipment); (v) cleaned and
cosmetically acceptable, with all Lessee-installed markings removed and all rust, corrosion or other contamination having been
removed or properly treated, and in such condition so that it may be installed and placed in service by a third party; and (vi)
in compliance with additional return conditions (if any) included in the applicable Schedule. Upon delivery, such Equipment shall
be in compliance with all applicable Federal, state and local laws, and health and safety guidelines. Lessee shall be responsible
for the cost of all repairs, alterations, inspections, appraisals, storage charges, insurance costs, demonstration costs and other
related costs necessary to cause such Equipment to be in full compliance with the terms of this Lease. (c) If requested by Lessor,
Lessee shall also deliver all related records and other data to Lessor, including all records of maintenance, modifications, additions
and major repairs, computerized maintenance history, and any maintenance and repair manuals (collectively, the “Records”).
All manuals or other documents delivered to Lessor that are subject to periodic revision will be fully up-to-date and current to
the latest revision standard of any particular manual or document. In the event any such Records are missing or incomplete, Lessor
shall have the right to cause the same to be reconstructed at Lessee’s expense. (d) In addition to Lessor's other rights
and remedies hereunder, if such Equipment and the related Records are not returned in a timely fashion, or if repairs are necessary
to place any item of Equipment in the condition required in this Section, Lessee shall (i) continue to pay to Lessor per diem rent
at the last prevailing lease rate under the applicable Schedule with respect to such item of Equipment, for the period of delay
in redelivery, and/or for the period of time reasonably necessary to accomplish such repairs, and (ii) pay to Lessor an amount
equal to the aggregate cost of any such repairs. Lessor's acceptance of such rent on account of such delay and/or repair does not
constitute an extension or renewal of the term of the related Schedule or a waiver of Lessor's right to prompt return of such Equipment
in proper condition. Such amount shall be payable upon the earlier of Lessor’s demand or the return of such Equipment in
accordance with this Lease. (e) Without limiting any other terms or conditions of this Lease, the provisions of this Section are
of the essence of each Schedule, and upon application to any court of equity having jurisdiction, Lessor shall be entitled to a
decree against Lessee requiring Lessee’s specific performance of its agreements in this Section.

 

    	 	4	 

     

    

 

13.       INDEMNITY.
Lessee shall indemnify, defend and keep harmless Lessor and any Assignee, and their respective agents and employees (each, an "Indemnitee"),
from and against any and all Claims (other than such as may directly and proximately result from the actual, but not imputed, gross
negligence or willful misconduct of such Indemnitee), by paying, on a net after-tax basis, or otherwise discharging same, when
and as such Claims shall become due. Lessee agrees that the indemnity provided for in this Section includes the agreement by Lessee
to indemnify each Indemnitee from the consequences of its own simple negligence, whether that negligence is the sole or concurring
cause of the Claims, and to further indemnify each such Indemnitee with respect to Claims for which such Indemnitee is strictly
liable. Lessor shall give Lessee prompt notice of any Claim hereby indemnified against and Lessee shall be entitled to control
the defense of and/or to settle any Claim, in each case, so long as (1) no Default or Event of Default has occurred and is then
continuing, (2) Lessee confirms, in writing, its unconditional and irrevocable commitment to indemnify each Indemnitee with respect
to such Claim, (3) Lessee is financially capable of satisfying its obligations under this Section, (4) Lessor approves the defense
counsel selected by Lessee, and (5) there is no reasonable risk of criminal liability being imposed on Lessor or any of its directors,
officers or employees as a result of such Claim. The term "Claims" shall mean all claims, allegations, harms,
judgments, settlements, suits, actions, debts, obligations, damages (whether incidental, consequential or direct), demands (for
compensation, indemnification, reimbursement or otherwise), losses, penalties, fines, liabilities (including strict liability),
charges that Lessor has incurred or for which it is responsible, in the nature of interest, Liens, and costs (including attorneys'
fees and disbursements and any other legal or non-legal expenses of investigation or defense of any Claim, whether or not such
Claim is ultimately defeated or enforcing the rights, remedies or indemnities provided for hereunder, or otherwise available at
law or equity to Lessor), of whatever kind or nature, contingent or otherwise, matured or unmatured, foreseeable or unforeseeable,
by or against any person, arising on account of (A) any Lease Document, including the performance, breach (including any Default
or Event of Default) or enforcement of any of the terms thereof, or (B) the Equipment, or any part or other contents thereof, any
substance at any time contained therein or emitted therefrom, including any hazardous substances, or the premises at which the
Equipment may be located from time to time, or (C) the ordering, acquisition, delivery, installation or rejection of the Equipment,
the possession of any property to which it may be attached from time to time, maintenance, use, condition, ownership or operation
of any item of Equipment, and by whomsoever owned, used, possessed or operated, during the term of any Schedule with respect to
that item of Equipment, the existence of latent and other defects (whether or not discoverable by Lessor or Lessee) any claim in
tort for negligence or strict liability, and any claim for patent, trademark or copyright infringement, or the loss, damage, destruction,
theft, removal, return, surrender, sale or other disposition of the Equipment, or any item thereof, including, Claims involving
or alleging environmental damage, or any criminal or terrorist act, or for whatever other reason whatsoever (excluding Claims resulting
solely and directly from the gross negligence or willful misconduct of any Indemnitee). If any Claim is made against Lessee or
an Indemnitee, the party receiving notice of such Claim shall promptly notify the other, but the failure of the party receiving
notice to so notify the other shall not relieve Lessee of any obligation hereunder.

 

14. DEFAULT. A default shall be
deemed to have occurred hereunder and under a Schedule upon the occurrence of any of the following (each, an "Event of
Default"): (a) non-payment of Basic Rent on the applicable rent payment date; (b) non-payment of any Other Payment within
five (5) days after it is due; (c) failure to maintain, use or operate the Equipment in compliance with applicable law and in accordance
with Section 7 hereof; (d) breach by Lessee of its covenants pursuant to Section 4(e) hereof; (e) failure to obtain, maintain and
comply with all of the insurance coverages required under this Lease; (f) any transfer or encumbrance, or the existence of any
Lien, that is prohibited by this Lease; (g) a payment or other default by Lessee under any loan, lease, guaranty or other financial
obligation to Lessor or its affiliates which results in a Material Adverse Effect; (h) a payment or other default by Lessee under
any material loan, lease, guaranty or other material financial obligation to any third party which results in a Material Adverse
Effect (such that any reference to Lessor shall refer to such third party and any reference to Lease, Schedule or the other Lease
Documents shall refer to any documentation of such material loan, lease, guaranty or other material financial obligation, as applicable);
(i) an inaccuracy in any representation or breach of warranty by Lessee (including any false or misleading representation or warranty)
in any financial statement or Lease Document, including any omission of any substantial contingent or unliquidated liability or
claim against Lessee; (j) the commencement of any bankruptcy, insolvency, receivership or similar proceeding by or against Lessee
or any of its properties or business (unless, if involuntary, the proceeding is dismissed within ninety (90) days of the filing
thereof) or the rejection of this Lease or any other Lease Document in any such proceeding; (k) the failure by Lessee generally
to pay its debts as they become due or its admission in writing of its inability to pay the same; (l) Lessee shall (1) enter into
any transaction of merger or consolidation, unless Lessee shall be the surviving entity (such actions being referred to as an "Event"),
unless the surviving entity is organized and existing under the laws of the United States or any state, and prior to such Event:
(A) such person executes and delivers to Lessor (x) an agreement satisfactory to Lessor, in its sole discretion, containing such
person's effective assumption, and its agreement to pay, perform, comply with and otherwise be liable for, in a due and punctual
manner, all of Lessee's obligations having previously arisen, or then or thereafter arising, under any and all of the Lease Documents,
and (y) any and all other documents, agreements, instruments, certificates, opinions and filings requested by Lessor; and (B) Lessor
is satisfied as to the creditworthiness of such person, and as to such person's conformance to the other standard criteria then
used by Lessor when approving transactions similar to the transactions contemplated in this Lease; (2) cease to do business as
a going concern, liquidate, or dissolve; or (3) sell, transfer, or otherwise dispose of all or substantially all of its assets
or property; (m) if Lessee is privately held and effective control of Lessee's voting capital stock/membership interests/partnership
interests, issued and outstanding from time to time, is not retained by the present holders or their affiliates (unless Lessee
shall have provided thirty (30) days' prior written notice to Lessor of the proposed disposition and Lessor shall have consented
thereto in writing); (n) if Lessee is a publicly held corporation and is no longer subject to the reporting requirements of, or
no longer has a class of equity securities registered under, the Securities Act of 1933 or the Securities Exchange Act of 1934,
is delisted from the New York Stock Exchange (NYSE) or there is a change in the ownership of Lessee’s capital stock such
that any “person” or “group” (within the meaning of Rule 13d-5 of the Securities Exchange Act of 1934,
as amended), other than a current owner of Guarantor’s capital stock (including, without limitation, Guarantor) and common
stock of Lessee purchased or owned by Guarantor, shall own 30% of either the aggregate ordinary voting power or the aggregate equity
value represented by the issued and outstanding common stock of Lessee, unless Lessor is satisfied as to the creditworthiness of
Lessee and as to Lessee's conformance to the other standard criteria then used by Lessor for such purpose immediately thereafter;
(o) there occurs a default or repudiation under any guaranty executed in connection with this Lease; (p) failure to satisfy the
requirements of any financial covenants set forth herein, or in any Schedule or in any rider hereto or thereto; or (q) breach by
Lessee of any other covenant, condition or agreement (other than those in items (a)-(p)) under this Lease or any of the other Lease
Documents that continues for thirty (30) days after Lessor’s written notice to Lessee (but such notice and cure period will
not be applicable unless such breach is curable by practical means within such notice period); or (r) to the extent any of the
Equipment is located at 43955 Plymouth Oaks Boulevard, Plymouth, MI 48170 or any other premises subject to the Lessee’s lease
with Lexington Lion Plymouth L.P., its successors and assigns (the “Landlord”), the cancellation, termination
or expiration of Lessee’s lease with the Landlord; or (s) if Guarantor is a publicly held corporation and is no longer subject
to the reporting requirements of, or no longer has a class of equity securities registered under, the Securities Act of 1933 or
the Securities Exchange Act of 1934, is delisted from the New York Stock Exchange (NYSE), or there is a change in the ownership
of Guarantor’s capital stock such that any “person” or “group” (within the meaning of Rule 13d-5
of the Securities Exchange Act of 1934, as amended) other than a current owner of Guarantor’s capital stock (including, without
limitation, Guarantor) shall own thirty percent (30%) of either the aggregate ordinary voting power or the aggregate equity value
represented by the issued and outstanding common stock of Guarantor, unless Lessor is satisfied as to the creditworthiness of Guarantor
and as to Guarantor 's conformance to the other standard criteria then used by Lessor for such purpose immediately thereafter.

 

    	 	5	 

     

    

 

The occurrence of an Event of Default with
respect to any Schedule shall, at the sole discretion of Lessor, constitute an Event of Default with respect to any or all Schedules
to which it is then a party. Notwithstanding anything to the contrary set forth herein, Lessor may exercise all rights and remedies
hereunder independently with respect to each Schedule.

 

15. REMEDIES. (a) If an Event of
Default occurs and is continuing with respect to any Schedule, the Lessor thereunder may (in its sole discretion) exercise any
one or more of the remedies specified in such Schedule with respect to such Schedule and any or all other Schedules to which such
Lessor is then a party.

 

(b) A cancellation
or termination of any Schedule shall occur only upon written notice by Lessor to Lessee. If an Event of Default occurs and is continuing
with respect to any Schedule, Lessee shall be liable for all of the following (“Enforcement Costs”): (1) all
unpaid Rent due before, during or after exercise of any of the foregoing remedies, and (2) all reasonable legal fees (including
consultation, drafting notices or other documents, expert witness fees, sending notices or instituting, prosecuting or defending
litigation or arbitration) and other enforcement costs and expenses incurred by reason of any Default or Event of Default or the
exercise of Lessor's rights or remedies, including all expenses incurred in connection with the return or other recovery of any
Equipment in accordance with the terms of this Lease or in placing such Equipment in the condition required hereby, or the sale,
re-lease or other disposition (including but not limited to costs of transportation, possession, storage, insurance, taxes, lien
removal, repair, refurbishing, advertising and brokers’ fees), and sales or use taxes incurred by Lessor in connection with
any disposition of the Equipment after the occurrence of an Event of Default, and all other pre-judgment and post-judgment enforcement
related actions taken by Lessor or any actions taken by Lessor in any bankruptcy case involving Lessee, the Equipment, or any other
person. From and after the date on which an Event of Default occurs and is continuing, Lessee shall pay interest to Lessor with
respect to all amounts due hereunder until such amounts are received by Lessor in good funds at a per annum interest rate that
is the lesser of twelve (12%) percent or the maximum rate permitted by applicable law (the “Default Rate”).
No right or remedy is exclusive and each may be used successively and cumulatively. Any failure to exercise the rights granted
hereunder or under a Schedule upon any Default or Event of Default shall not constitute a waiver of any such right. No extension
of time for payment or performance of any of Lessee’s obligations shall operate to release, discharge, modify, change or
affect the original liability of Lessee for such obligations, either in whole or in part. In any action to repossess any Equipment
or other Collateral, Lessee waives any bonds and any surety or security required by any applicable laws as an incident to such
repossession. Notices of Lessor’s intention to accelerate, acceleration, nonpayment, presentment, protest, dishonor or any
other notice whatsoever (other than as expressly set forth herein) are waived by Lessee. Any notice given by Lessor of any disposition
of the Equipment or any Collateral or other intended action of Lessor which is given in accordance with this Lease at least ten
(10) days prior to such action, shall constitute fair and reasonable notice of such action. The execution of a Schedule shall not
constitute a waiver by Lessor of any pre-existing Default or Event of Default. With respect to any disposition of any Equipment
or Collateral pursuant to this Lease, (i) Lessor shall have no obligation, subject to the requirements of commercial reasonableness,
to clean-up or otherwise prepare the same for disposition, (ii) Lessor may comply with any applicable law in connection with any
such disposition, and any actions taken in connection therewith shall not be deemed to have adversely affected the commercial reasonableness
of any disposition thereof, (iii) Lessor may disclaim any title or other warranties in connection with any such disposition, and
(iv) Lessee shall remain responsible for any deficiency remaining after Lessor’s exercise of its remedies and application
of any funds or credits against Lessee’s obligations under any Schedule.

 

16. ASSIGNMENT. (a) LESSEE SHALL
NOT ASSIGN, DELEGATE, TRANSFER OR ENCUMBER ANY OF ITS RIGHTS OR OBLIGATIONS HEREUNDER OR UNDER ANY SCHEDULE, OR ITS LEASEHOLD INTEREST
OR ANY COLLATERAL, SUBLET THE EQUIPMENT OR OTHERWISE PERMIT THE EQUIPMENT TO BE OPERATED OR USED BY, OR TO COME INTO OR REMAIN
IN THE POSSESSION OF, ANYONE BUT LESSEE. Without limiting the foregoing, (1) Lessee may not attempt to dispose of any of the Equipment,
and (2) Lessee shall (A) maintain the Equipment free from all Liens, other than Permitted Liens, (B) notify Lessor immediately
upon receipt of notice of any Lien affecting the Equipment, and (C) defend Lessor's title to the Equipment. A “Permitted
Lien” shall mean any Lien for Impositions, Liens of mechanics, materialmen, or suppliers and similar Liens arising by
operation of law, provided that any such Lien is incurred by Lessee in the ordinary course of business, for sums that are not yet
delinquent or are being contested in good faith and with due diligence, by negotiations or by appropriate proceedings which suspend
the collection thereof and, in Lessor's sole discretion, (i) do not involve any substantial danger of the sale, forfeiture or loss
of the Equipment or any interest therein, and (ii) for the payment of which adequate assurances or security have been provided
to Lessor. No disposition referred to in this Section shall relieve Lessee of its obligations, and Lessee shall remain primarily
liable under each Schedule and all of the other Lease Documents. (b) Lessor may at any time with or without notice to Lessee grant
a security interest in, sell, assign, delegate or otherwise transfer (an “Assignment”) all or any part of its
interest in the Equipment, this Lease or any Schedule and any related Lease Documents or any Rent thereunder, or the right to enter
into any Schedule, and Lessee shall perform all of its obligations thereunder, to the extent so transferred, for the benefit of
the beneficiary of such Assignment which beneficiary shall be an Eligible Assignee (as defined below) (such beneficiary, including
any successors and assigns, an “Assignee”). “Eligible Assignee” shall mean any affiliate
or subsidiary of Lessor, as applicable, or any other regulated financial institution (or a subsidiary or affiliate of such a regulated
financial institution) that is not a competitor of Lessee. Lessee agrees not to assert against any Assignee any Abatement (without
limiting the provisions of Section 2) or Claim that Lessee may have against Lessor, and Assignee shall not be bound by, or otherwise
required to perform any of Lessor’s obligations, unless expressly assumed by such Assignee. Lessor shall be relieved of any
such assumed obligations (excluding such obligations of Lessor to purchase the Equipment from the respective vendor). If so directed
in writing, Lessee shall pay all Rent and all other sums that become due under the assigned Schedule and other Lease Documents
directly to the Assignee or any other party designated in writing by Lessor or such Assignee. Lessee acknowledges that Lessor’s
right to enter into an Assignment is essential to Lessor and, accordingly, waives any restrictions under applicable law with respect
to an Assignment and any related remedies. Upon the request of Lessor or any Assignee, Lessee also agrees (i) to promptly execute
and deliver to Lessor or to such Assignee an acknowledgment of the Assignment in form and substance satisfactory to the requesting
party, an insurance certificate and such other documents and assurances reasonably requested by Lessor or Assignee, and (ii) to
comply with all other reasonable requirements of any such Assignee in connection with any such Assignment. Upon such Assignment
and except as may otherwise be provided herein, all references in this Lease to “Lessor” shall include such Assignee.
(c) Subject always to the foregoing, this Lease and each Schedule shall inure to the benefit of, and are binding upon, Lessee’s
and Lessor’s respective successors and assigns.

 

    	 	6	 

     

    

 

17.        MISCELLANEOUS.
(a) This Lease, each Schedule, any Riders hereto or thereto and any commitment letter between the parties, constitute the entire
agreement between the parties with respect to the subject matter hereof and thereof and shall not be amended or modified in any
manner except by a document in writing executed by both parties. (b) Any provision of this Lease that is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate
or render unenforceable such provision in any other jurisdiction. (c) The representations, warranties and agreements of Lessee
herein shall be deemed to be continuing and to survive the execution and delivery of this Lease, each Schedule and any other Lease
Documents. With respect to each Schedule, the obligations of Lessee under Sections 8, 9, 11, 12 and 13 hereof, together with any
of Lessee's obligations under the other provisions of this Lease (as incorporated therein) which have accrued but not been fully
satisfied, performed or complied with prior to the expiration or earlier cancellation or termination of such Schedule, shall survive
the expiration or earlier cancellation or termination thereof. (d) All of Lessee’s obligations hereunder and under any Schedule
shall be performed at Lessee’s sole expense. Lessee shall reimburse Lessor promptly upon demand for all expenses incurred
by Lessor in connection with (1) any action taken by Lessor at Lessee’s request, or in connection with any option, (2) the
filing or recording of real property waivers and UCCs, (3) any Enforcement Costs not recovered pursuant to Section 16, (4) all
inspections, and (5) all lien search reports (and copies of filings) requested by Lessor. If Lessee fails to perform any of its
obligations with respect to a Schedule, Lessor shall have the right, but shall not be obligated, to effect such performance, and
Lessee shall reimburse Lessor, upon demand, for all expenses incurred by Lessor in connection with such performance. Lessor's effecting
such compliance shall not be a waiver of Lessee's default. (e) Lessee irrevocably appoints Lessor as Lessee's attorney-in-fact
(which power shall be deemed coupled with an interest) to: (1) make minor corrections to manifest errors in factual data in any
Schedule and/or any addenda, attachments, exhibits and/or riders to this Lease or any Schedule; and (2) execute, endorse and deliver
any documents and checks or drafts relating to or received in payment for any loss or damage under the policies of insurance required
by this Lease, but only to the extent that the same relates to the Equipment, or are required by titling agencies in order to reflect
Lessor as the owner and/or lienholder with respect to certificates of title pertaining to motor vehicles (if any) comprising the
Equipment. (f) LESSOR AND LESSEE HEREBY WAIVE TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO WHICH LESSEE AND/OR LESSOR MAY BE PARTIES
ARISING OUT OF OR IN ANY WAY PERTAINING TO THIS LEASE. (g) All notices (excluding billings and communications in the ordinary course
of business) hereunder shall be in writing, personally delivered, delivered by overnight courier service, sent by facsimile transmission
(with confirmation of receipt), or sent by certified mail, return receipt requested, addressed to the other party at its respective
address stated below the signature of such party or at such other address as such party shall from time to time designate in writing
to the other party; and shall be effective from the date of receipt. (h) This Lease shall not be effective unless and until accepted
by execution by an officer of Lessor at the address, in the State of Maryland, as set forth below the signature of Lessor. THIS
LEASE AND ALL OF THE OTHER LEASE DOCUMENTS, AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER, SHALL IN ALL
RESPECTS BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (the "State")
(WITHOUT REGARD TO THE CONFLICT OF LAWS PRINCIPLES OF THE STATE), INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE,
REGARDLESS OF THE LOCATION OF THE EQUIPMENT. The parties agree that any action or proceeding arising out of or relating to this
Lease may be commenced in any state or Federal court in the State, and agree that a summons and complaint commencing an action
or proceeding in any such court shall be properly served and shall confer personal jurisdiction if served personally or by certified
mail to it at the mailing address below Lessee’s signature, or as it may provide in writing from time to time, or as otherwise
provided under the laws of the State. (i) This Lease and all of the other Lease Documents may be executed in counterparts. Photocopies,
electronic or facsimile transmissions of signatures shall be deemed original signatures and shall be fully binding on the parties
to the same extent as original signatures. The transfer or possession of the “Original” of this Lease shall be irrelevant
to the full or collateral assignment of, or grant of security interest in, any Schedule; provided, however, no security interest
in any Schedule may be created through the transfer, possession or control, as applicable, of any counterpart of such Schedule
other than the original thereof, which shall be identified as the document or record (as applicable) marked "Original"
and all other counterparts shall be marked "Duplicate". (j) If Lessor is required by the terms hereof to pay to or for
the benefit of Lessee any amount received as a refund of an Imposition or as insurance proceeds, Lessor shall not be required to
pay such amount, if any Default has occurred and is then continuing and not been cured or any Event of Default shall have occurred
and is then continuing and not been waived by Lessor. In addition, if Lessor is required by the terms hereof to cooperate with
Lessee in connection with certain matters, such cooperation shall not be required if a Default or Event of Default has then occurred
and is continuing. (k) To the extent Lessor is required to give its consent or approval with respect to any matter, the reasonableness
of Lessor's withholding of such consent shall be determined based on the then existing circumstances; provided, that Lessor's withholding
of its consent shall be deemed reasonable for all purposes if (i) the taking of the action that is the subject of such request,
might result (in Lessor's discretion), in (A) an impairment of Lessor's rights, title or interests hereunder or under any Schedule
or other Lease Document, or to the Equipment, or (B) expose Lessor to any Claims or Impositions, or (ii) Lessee fails to provide
promptly to Lessor any filings, certificates, opinions or indemnities required by Lessor as a condition to such consent.

 

    	 	7	 

     

    

 

18. JOINT AND
SEVERAL OBLIGATIONS. The obligations of Tower Automotive Operations USA I, LLC and Tower Automotive Holdings USA,
LLC are joint and several. Each reference to the term "Lessee" shall be deemed to refer to each of Tower Automotive
Operations USA I, LLC and Tower Automotive Holdings USA, LLC; each representation and warranty made by Lessee shall
be deemed to have been made by each such party; each covenant and undertaking on the part of Lessee shall be deemed individually
applicable with respect to each such party; and each event constituting an Event of Default under this Lease shall be determined
with respect to each such party. A separate action or actions may be brought and prosecuted against any such party whether an action
is brought against any other party or whether any other party is joined in any such action or actions. Each such party waives any
right to require Lessor to: (a) proceed against any other party; (b) proceed against or exhaust any security held from any other
party; or (c) pursue any other remedy in Lessor's power whatsoever. Notices hereunder required to be provided to Lessee shall be
effective if provided to any such party. Any consent on the part of Lessee hereunder shall be effective when provided by any such
party and Lessor shall be entitled to rely upon any notice or consent given by any such party as being notice or consent given
by Lessee hereunder.

 

In the event any
obligation of Lessee under this Lease is deemed to be an agreement by any individual Lessee to answer for the debt or default of
another individual Lessee (including each other) or as a hypothecation of property as security therefor, each Lessee represents
and warrants that: (x) no representation has been made to it as to the creditworthiness of any other obligor, and (y) it has established
adequate means of obtaining from each other obligor on a continuing basis, financial or other information pertaining to each other
obligor's financial condition. Each Lessee expressly waives diligence, demand, presentment, protest and notice of every kind and
nature whatsoever, consents to the taking by Lessor of any additional security for the obligations secured hereby, or the alteration
or release in any manner of any security now or hereafter held in connection with any obligations now or hereafter secured by this
Lease, and consents that Lessor and any obligor may deal with each other in connection with said obligations or otherwise, or alter
any contracts now or hereafter existing between them, in any manner whatsoever, including without limitation the renewal, extension,
acceleration, changes in time for payment, and increases or decreases in any rent, rate of interest or other amounts owing, all
without in any way altering the liability of each Lessee, or affecting any security for such obligations. Should any default be
made in the payment of any such obligations or in the terms or conditions of any security held, Lessor is hereby expressly given
the right, at its option, to proceed in the enforcement of this Lease independently of any other remedy or security it may at any
time hold in connection with such obligations secured and it shall not be necessary for Lessor to proceed upon or against and/or
exhaust any other security or remedy before proceeding to enforce its rights against any Lessee. Each Lessee further waives any
right of subrogation, reimbursement, exoneration, contribution, indemnification, setoff or other recourse in respect of sums paid
to Lessor by any Lessee.

 

19.       DEFINITIONS
AND RULES OF CONSTRUCTION. (a) The following terms when used in this Lease or in any of the Schedules have the following meanings:
(1) “affiliate”: with respect to any given person, shall mean (i) each person that directly or indirectly owns
or controls, whether beneficially or as a trustee, guardian or other fiduciary, five (5) percent or more of the voting stock, membership
interest or similar equity interest having ordinary voting power in the election of directors or managers of such person, (ii)
each person that controls, is controlled by, or is under common control with, such person, or (iii) each of such person’s
officers, directors, members, joint venturers and partners. For the purposes of this definition, “control” of a person
means the possession, directly or indirectly, of the power to direct or cause the direction of its management or policies, whether
through the ownership of voting securities, by contract or otherwise; (2) "applicable law" or "law":
any law, rule, regulation, ordinance, order, code, common law, interpretation, judgment, directive, decree, treaty, injunction,
writ, determination, award, permit or similar norm or decision of any governmental authority; (3) “AS IS, WHERE IS”:
AS IS, WHERE IS, without warranty, express or implied, with respect to any matter whatsoever; (4) "business day":
any day, other than a Saturday, Sunday, or legal holiday for commercial banks under the laws of the state of the Lessor’s
notice address; (5) “Collateral”: shall have the meaning given such term in the Schedule; (6) "governmental
authority": any federal, state, county, municipal, regional or other governmental authority, agency, board, body, instrumentality
or court, in each case, whether domestic or foreign; (7) "person": any individual, corporation, limited liability
entity, partnership, joint venture, or other legal entity or a governmental authority, whether employed, hired, affiliated, owned,
contracted with, or otherwise related or unrelated to Lessee or Lessor; and (8) "UCC" or "Uniform Commercial
Code": the Uniform Commercial Code as in effect in the State or in any other applicable jurisdiction; and any reference
to an article (including Article 2A) or section thereof shall mean the corresponding article or section (however termed) of any
such applicable version of the Uniform Commercial Code. (b) The following terms when used herein or in any of the Schedules shall
be construed as follows: (1) "herein," "hereof," "hereunder," etc.: in, of,
under, etc. this Lease or such other Lease Document in which such term appears (and not merely in, of, under, etc. the section
or provision where the reference occurs); (2) "including": means including without limitation unless such term
is followed by the words "and limited to," or similar words; and (3) "or": at least one, but not necessarily
only one, of the alternatives enumerated. Any defined term used in the singular preceded by "any" indicates any number
of the members of the relevant class. Any Lease Document or other agreement or instrument referred to herein means such agreement
or instrument as supplemented and amended from time to time. Any reference to Lessor or Lessee shall include their permitted successors
and assigns. Any reference to an applicable law shall also mean such law as amended, superseded or replaced from time to time.
(c) Any accounting term used in this Lease or the other Lease Documents shall have, unless otherwise specifically provided therein,
the meaning customarily given such term in accordance with GAAP, and all financial computations thereunder shall be computed, unless
otherwise specifically provided therein, in accordance with GAAP consistently applied; provided, that all financial covenants and
calculations in the Lease Documents shall be made in accordance with GAAP as in effect on the date hereof unless Lessee and Lessor
shall otherwise specifically agree in writing. That certain items or computations are explicitly modified by the phrase “in
accordance with GAAP” shall in no way be construed to limit the foregoing.

 

 

    	 	8	 

     

    

  

IN WITNESS WHEREOF,
the parties hereto have caused this Master Lease Agreement to be duly executed, under seal, as of the day and year first above
set forth.

 

	MB EQUIPMENT FINANCE, LLC	 	TOWER AUTOMOTIVE OPERATIONS USA I, LLC
	Lessor	 	 	Co-Lessee
	 	 	 	 	 
	 	 	 	 	 
	By:	/s/ Jeannie McManus	 	By:	/s/ Dennis C. Pike
	Name: 	Jeannie McManus	 	Name: 	Dennis C. Pike
	Title:	SVP	 	Title:	Treasurer
	 	 	 	 	 
	 	230 Schilling Circle 

Suite 340	 	Address:	17672 Laurel Park Drive N. Suite 400E

    Livonia, MI 48152
	 	Hunt Valley, Maryland  21031	 	 	Attention: Treasurer
	 	Facsimile: 443-798-6599	 	 	Facsimile:  248-673-6801
	 	 	 	 	 
	 	 	 	Form of Organization: Limited Liability Company
	 	 	 	Jurisdiction of Organization: Delaware
	 	 	 	Federal Employer Identification No.: 26-0440499
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 TOWER AUTOMOTIVE HOLDINGS USA, LLC
	 	 	 	 Co-Lessee
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	By:	/s/ Dennis C. Pike
	 	 	 	Name: 	Dennis C. Pike
	 	 	 	Title:	Treasurer
	 	 	 	 	 

 

	 	 	 	Address:	17672 Laurel Park Drive N. Suite 400E
	 	   	 	 	Livonia, MI 48152
	 	 	 	 	Attention: Treasurer
	 	 	 	 	Facsimile: 248-675-6801
	 	 	 	 	 
	 	 	 	Form of Organization: Limited Liability Company
	 	 	 	Jurisdiction of Organization: Delaware
	 	 	 	Federal Employer Identification No.: 26-0459108

 

 

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