Document:

Exhibit
4.8

 

FOURTH
SUPPLEMENTAL INDENTURE

 

 

FOURTH  SUPPLEMENTAL INDENTURE (this “Supplemental
Indenture”), dated as of February 28, 2008, among Dew
Technologies, Inc., an Ohio corporation (the “Guaranteeing
Subsidiary”), an indirect subsidiary of TriMas Corporation (or its
permitted successor), a Delaware corporation (the “Company”),
the Company, the other Guarantors (as defined in the Indenture referred to
herein) and The Bank of New York, as trustee under the Indenture referred to
below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Company has heretofore executed and
delivered to the Trustee an Indenture (the “Indenture”),
dated as of June 6, 2002 pursuant to which $437,773,000 aggregate
principal amount of 9 7/8% Senior Subordinated Notes due 2012 (the “Notes”) were issued and $[   ] aggregate
principal amount of the Notes remain outstanding on the date hereof;

 

WHEREAS, the Indenture provides that under certain
circumstances the Guaranteeing Subsidiary shall execute and deliver to the
Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiary
shall unconditionally guarantee all of the Company’s Obligations under the
Notes and the Indenture on the terms and conditions set forth herein (the “Note Guarantee”); and

 

WHEREAS, pursuant to Section 9.01 of the
Indenture, the Trustee is authorized to execute and deliver this Supplemental
Indenture.

 

NOW THEREFORE, in consideration of the foregoing and
for other good and valuable consideration, the receipt of which is hereby
acknowledged, the Guaranteeing Subsidiary and the Trustee mutually covenant and
agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

1.             CAPITALIZED
TERMS.  Capitalized terms used herein
without definition shall have the meanings assigned to them in the Indenture.

 

2.             AGREEMENT
TO GUARANTEE.  The Guaranteeing
Subsidiary hereby agrees as follows:

 

(a)           Along with all Guarantors named in
the Indenture, to jointly and severally Guarantee to each Holder of a Note
authenticated and delivered by the Trustee and to the Trustee and its
successors and assigns, the Notes or the obligations of the Company hereunder
or thereunder, that:

 

(i)            the principal of, and premium and
Liquidated Damages, if any, and interest on the Notes will be promptly paid in
full when due, whether at maturity, by acceleration, redemption or otherwise,
and interest on the overdue principal of and interest on the Notes, if any, if
lawful, and all other obligations of the Company to the Holders or the Trustee
hereunder or thereunder will be promptly paid in full or performed, all in
accordance with the terms hereof and thereof; and

 

 

 

(ii)           in case of any extension of time of
payment or renewal of any Notes or any of such other obligations, that same
will be promptly paid in full when due or performed in accordance with the
terms of the extension or renewal, whether at stated maturity, by acceleration
or otherwise.  Failing payment when due
of any amount so guaranteed or any performance so guaranteed for whatever
reason, the Guarantors shall be jointly and severally obligated to pay the same
immediately.

 

(b)           The obligations hereunder shall be
unconditional, irrespective of the validity, regularity or enforceability of
the Notes or the Indenture, the absence of any action to enforce the same, any
waiver or consent by any Holder of the Notes with respect to any provisions
hereof or thereof, the recovery of any judgment against the Company, any action
to enforce the same or any other circumstance which might otherwise constitute
a legal or equitable discharge or defense of a Guarantor.

 

(c)           The following is hereby waived:  diligence, presentment, demand of payment,
filing of claims with a court in the event of insolvency or bankruptcy of the
Company, any right to require a proceeding first against the Company, protest,
notice and all demands whatsoever.

 

(d)           This Note Guarantee shall not be
discharged except by complete performance of the obligations contained in the
Notes and the Indenture, and the Guaranteeing Subsidiary accepts all obligations
of a Guarantor under the Indenture.

 

(e)           If any Holder or the Trustee is
required by any court or otherwise to return to the Company, the Guarantors, or
any custodian, trustee, liquidator or other similar official acting in relation
to either the Company or the Guarantors, any amount paid by either to the
Trustee or such Holder, this Note Guarantee, to the extent theretofore
discharged, shall be reinstated in full force and effect.

 

(f)            The Guaranteeing Subsidiary shall
not be entitled to any right of subrogation in relation to the Holders in
respect of any obligations guaranteed hereby until payment in full of all
obligations guaranteed hereby.

 

(g)           As between the Guarantors, on the one
hand, and the Holders and the Trustee, on the other hand, (x) the maturity
of the obligations guaranteed hereby may be accelerated as provided in Article 6
of the Indenture for the purposes of this Note Guarantee, notwithstanding any
stay, injunction or other prohibition preventing such acceleration in respect
of the obligations guaranteed hereby, and (y) in the event of any
declaration of acceleration of such obligations as provided in Article 6
of the Indenture, such obligations (whether or not due and payable) shall
forthwith become due and payable by the Guarantors for the purpose of this Note
Guarantee.

 

(h)           The Guarantors shall have the right
to seek contribution from any non-paying Guarantor so long as the exercise of
such right does not impair the rights of the Holders under the Note Guarantee.

 

 

2

 

(i)            Pursuant to Section 10.02 of
the Indenture, after giving effect to any maximum amount and all other
contingent and fixed liabilities that are relevant under any applicable
Bankruptcy or fraudulent conveyance laws, and after giving effect to any
collections from, rights to receive contribution from or payments made by or on
behalf of any other Guarantor in respect of the obligations of such other
Guarantor under Article 10 of the Indenture, this new Note Guarantee shall
be limited to the maximum amount permissible such that the obligations of such
Guarantor under this Note Guarantee will not constitute a fraudulent transfer
or conveyance.

 

3.             EXECUTION
AND DELIVERY.  Each Guaranteeing
Subsidiary agrees that the Note Guarantees shall remain in full force and
effect notwithstanding any failure to endorse on each Note a notation of such
Note Guarantee.

 

4.             GUARANTEEING SUBSIDIARY MAY CONSOLIDATE,
ETC. ON CERTAIN TERMS.

 

(a)           The Guaranteeing Subsidiary may not
sell or otherwise dispose of all substantially all of its assets to, or
consolidate with or merge with or into (whether or not such Guarantor is the
surviving Person) another Person, other than the Company or another Guarantor
unless:

 

(i)            immediately after giving effect to
such transaction, no Default or Event of Default exists; and

 

(ii)           either (A) subject to Sections
11.04 and 11.05 of the Indenture, the Person acquiring the property in any such
sale or disposition or the Person formed by or surviving any such consolidation
or merger unconditionally assumes all the obligations of that Guarantor,
pursuant to a supplemental indenture in form and substance reasonably
satisfactory to the Trustee, under the Notes, the Indenture and the Note
Guarantee on the terms set forth herein or therein; or (B) the Net
Proceeds of such sale or other disposition are applied in accordance with the
applicable provisions of the Indenture, including without limitation, Section 4.10
thereof.

 

(b)           In case of any such consolidation,
merger, sale or conveyance and upon the assumption by the successor Person, by
supplemental indenture, executed and delivered to the Trustee and satisfactory
in form to the Trustee, of the Note Guarantee endorsed upon the Notes and the
due and punctual performance of all of the covenants and conditions of the
Indenture to be performed by the Guarantor, such successor Person shall succeed
to and be substituted for the Guarantor with the same effect as if it had been
named herein as a Guarantor.  Such
successor Person thereupon may cause to be signed any or all of the Note
Guarantees to be endorsed upon all of the Notes issuable under the Indenture
which theretofore shall not have been signed by the Company and delivered to
the Trustee.  All the Note Guarantees so
issued shall in all respects have the same legal rank and benefit under the
Indenture as the Note Guarantees theretofore and thereafter issued in
accordance with the terms of the Indenture as though all of such Note
Guarantees had been issued at the date of the execution hereof.

 

 

3

 

(c)           Except as set forth in Articles 4 and
5 and Section 11.05 of Article 11 of the Indenture, and
notwithstanding clauses (a) and (b) above, nothing contained in the
Indenture or in any of the Notes shall prevent any consolidation or merger of a
Guarantor with or into the Company or another Guarantor, or shall prevent any
sale or conveyance of the property of a Guarantor as an entirety or
substantially as an entirety to the Company or another Guarantor.

 

5.             RELEASES.

 

(a)           In the event of any sale or other
disposition of all or substantially all of the assets of any Guarantor, by way
of merger, consolidation or otherwise, or a sale or other disposition of all of
the capital stock of any Guarantor, in each case to a Person that is not
(either before or after giving effect to such transaction) a Restricted
Subsidiary of the Company, then such Guarantor (in the event of a sale or other
disposition, by way of merger, consolidation or otherwise, of all of the
capital stock of such Guarantor) or the corporation acquiring the property (in
the event of a sale or other disposition of all or substantially all of the
assets of such Guarantor) will be released and relieved of any obligations
under its Note Guarantee; provided that
the Net Proceeds of such sale or other disposition are applied in accordance
with the applicable provisions of the Indenture, including without limitation Section 4.10
of the Indenture.  Upon delivery by the
Company to the Trustee of an Officers’ Certificate and an Opinion of Counsel to
the effect that such sale or other disposition was made by the Company in
accordance with the provisions of the Indenture, including without limitation Section 4.10
of the Indenture, the Trustee shall execute any documents reasonably required
in order to evidence the release of any Guarantor from its obligations under
its Note Guarantee.

 

(b)           Any
Guarantor not released from its obligations under its Note Guarantee shall
remain liable for the full amount of principal of and interest on the Notes and
for the other obligations of any Guarantor under the Indenture as provided in Article 11
of the Indenture.

 

6.             NO
RECOURSE AGAINST OTHERS.  No past,
present or future director, officer, employee, incorporator, stockholder or
agent of the Guaranteeing Subsidiary, as such, shall have any liability for any
obligations of the Company or any Guaranteeing Subsidiary under the Notes, any
Note Guarantees, the Indenture or this Supplemental Indenture or for any claim
based on, in respect of, or by reason of, such obligations or their
creation.  Each Holder of the Notes by
accepting a Note waives and releases all such liability.  The waiver and release are part of the
consideration for issuance of the Notes. 
Such waiver may not be effective to waive liabilities under the federal
securities laws and it is the view of the SEC that such a waiver is against
public policy.

 

7.             NEW
YORK LAW TO GOVERN.  THE INTERNAL LAW OF
THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL
INDENTURE BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF
LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION
WOULD BE REQUIRED THEREBY.

 

 

4

 

8.             COUNTERPARTS.  The parties may sign any number of copies of
this Supplemental Indenture.  Each signed
copy shall be an original, but all of them together represent the same
agreement.

 

9.             EFFECT
OF HEADINGS.  The Section headings
herein are for convenience only and shall not affect the construction hereof.

 

10.           THE
TRUSTEE.  The Trustee shall not be
responsible in any manner whatsoever for or in respect of the validity or
sufficiency of this Supplemental Indenture or for or in respect of the recitals
contained herein, all of which recitals are made solely by the Guaranteeing
Subsidiary and the Company.

 

 

5

 

IN WITNESS WHEREOF, the parties hereto have caused
this Supplemental Indenture to be duly executed and attested, all as of the
date first above written.

 

Dated:  February 28, 2008

 

	
   

  	
  Dew Technologies, Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert J. Zalupski

  
	
   

  	
   

  	
  Name:

  	
  Robert J. Zalupski

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TriMas Corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ E. R. Autry

  
	
   

  	
   

  	
  Name:

  	
  E. R. Autry

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

 

 

 

6

 

 

 

 

 

 

	
   

  	
  EXISTING GUARANTORS:

  
	
   

  	
   

  
	
   

  	
  Arrow Engine Company

  
	
   

  	
  Cequent Towing Products, Inc.

  
	
   

  	
  Cequent Trailer Products, Inc.

  
	
   

  	
  Cequent Electrical Products, Inc.

  
	
   

  	
  Commonwealth Disposition LLC

  
	
   

  	
  Compac Corporation

  
	
   

  	
  HammerBlow Acquisition Corp

  
	
   

  	
  The HammerBlow Corporation

  
	
   

  	
  HammerBlow LLC

  
	
   

  	
  Hi-Vol Products LLC

  
	
   

  	
  Hidden Hitch Acquisition Company

  
	
   

  	
  Highland Group Corporation

  
	
   

  	
  Hitch ‘N Post, Inc.

  
	
   

  	
  K.S. Disposition, Inc.

  
	
   

  	
  Keo Cutters, Inc.

  
	
   

  	
  Lake Erie Screw Corporation

  
	
   

  	
  Lamons Gasket Company

  
	
   

  	
  Monogram Aerospace Fasteners, Inc.

  
	
   

  	
  NI Foreign Military Sales Corp.

  
	
   

  	
  NI Industries, Inc.

  
	
   

  	
  NI West, Inc.

  
	
   

  	
  Norris Cylinder Company

  
	
   

  	
  Richards Micro-Tool, Inc.

  
	
   

  	
  Rieke Corporation

  
	
   

  	
  Rieke Leasing Co., Incorporated

  
	
   

  	
  Rieke of Mexico, Inc.

  
	
   

  	
  TriMas Company LLC

  
	
   

  	
  TriMas Fasteners, Inc.

  
	
   

  	
  TriMas Services Corp.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert J. Zalupski

  
	
   

  	
   

  	
  Name: 

  	
  Robert J. Zalupski

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  

 

 

 

7

 

 

 

 

	
   

  	
  The Bank of New York,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jeremy Finkelstein

  
	
   

  	
   

  	
  Authorized Signatory

  

 

 

 

 

8Exhibit 10.12

 

TSPC, Inc.

Hughes Center, Suite 460

3993 Howard Hughes Parkway

Las Vegas, NV 89109

 

February 22, 2008

 

JPMorgan
Chase Bank, N.A.

as
Administrative Agent

10
South Dearborn, Mail Suite IL1-1729

Chicago,
Illinois 60603

 

J.P.
Morgan Securities Inc.

10
South Dearborn, Mail Suite IL1-1729

Chicago,
Illinois 60603

 

Re:          TriMas Receivables Facility Second
Amended and Restated Fee Letter

 

Ladies
and Gentlemen:

 

Reference
is hereby made to that certain Receivables Transfer Agreement, dated as of June 6,
2002, as amended as of June 3, 2005, July 5, 2005, December 31,
2007 and February 22, 2008 (as amended, supplemented or otherwise modified
and in effect from time to time, the “Receivables Transfer Agreement”),
by and among TSPC, Inc., a Nevada corporation (the “Transferor”),
TriMas Corporation, a Delaware corporation, individually (the “Parent”),
as collection agent (in such capacity, the “Collection Agent”) and
TriMas Company, LLC, a Delaware limited liability company (“TriMas LLC”),
as guarantor under the Limited Guaranty set forth in Article IX thereto
(in such capacity, the “Guarantor”), the several commercial paper
conduits identified on Schedule B thereto and their respective permitted
successors and assigns (the “CP Conduit Purchasers”), the several
financial institutions identified on Schedule B thereto and their respective
permitted successors and assigns (the “Committed Purchasers”), the agent
bank set forth opposite the name of each CP Conduit Purchaser and Committed
Purchaser on Schedule B thereto and its permitted successor and assign (the “Funding
Agent” with respect to the CP Conduit Purchasers and Committed Purchasers)
and JPMorgan Chase Bank, N.A., f/k/a JPMorgan Chase Bank, as Administrative
Agent (in such capacity, the “Administrative Agent”) for the benefit of
the CP Conduit Purchasers and the Committed Purchasers.  Capitalized terms used herein and not
otherwise defined have the meanings assigned to such terms in the Receivables
Transfer Agreement.

 

 

 

In
connection with the transactions contemplated by the Receivables Transfer
Agreement and the other Transaction Documents, the parties hereto hereby agree
as follows:

 

1.             Program Fee

 

Upfront
Fee - On the date hereof, the Transferor hereby agrees to pay to the
Administrative Agent, for the benefit of each Committed Purchaser, a one time
fee, in an aggregate amount equal to the product of (a) 0.15%, and (b) the
total of the Commitments of the Committed Purchasers.

 

Used
Fee - From the date hereof up to the occurrence of a Termination Date the
Transferor hereby agrees to pay to the Administrative Agent, for the benefit of
the CP Conduit Purchasers, a used fee for each Settlement Period payable on
each Settlement Date (or if such day is not a Business Day, the next succeeding
Business Day), in an amount equal to the product of (a) the average daily
Net Investment during the related Settlement Period, computed on the basis of
the actual number of days elapsed in such Settlement Period in a year of 360
days, and (b) 1.05%.

 

Unused
Fee - From the date hereof up to the occurrence of a Termination Date, the
Transferor hereby agrees to pay to the Administrative Agent, for the benefit of
the CP Conduit Purchasers or the Committed Purchasers, as applicable, an unused
fee for each Settlement Period payable on each Settlement Date (or if such day
is not a Business Day, the next succeeding Business Day), in an amount equal to
the product of (a) the difference between (i) the average daily
Aggregate Commitment and (ii) the average daily Net Investment during the
related Settlement Period, computed on the basis of the actual number of days
elapsed in such Settlement Period in a year of 360 days, and (b) 0.50%.

 

2.             Payment or Reimbursement of
Miscellaneous Expenses.

 

The
Transferor hereby agrees to pay (or to reimburse the Administrative Agent, any
CP Conduit Purchaser, any Committed Purchaser or any Funding Agent if the
Administrative Agent, such CP Conduit Purchaser, such Committed Purchaser or
such Funding Agent has previously paid) all expenses (including, without
limitation, reasonable attorneys’, accountants’, rating agencies’ and other
third parties’ fees and expenses, any filing fees and expenses incurred by
officers or employees of the Administrative Agent, the CP Conduit Purchasers,
the Committed Purchasers and/or the Funding Agents) incurred by or on behalf of
the Administrative Agent, the CP Conduit Purchasers, the Committed Purchasers
and the Funding Agents.

 

 

 

2

 

3.             Miscellaneous.

 

                (a)  This letter agreement
is the Fee Letter specified in the Receivables Transfer Agreement, amends and
restates in its entirety that certain Amended and Restated Fee Letter dated July 1,
2005, among the Transferor, the Administrative Agent, J.P. Morgan Securities
Inc. and Park Avenue Receivables Company LLC (the “Amended and Restated Fee
Letter”), and shall be entitled to all of the rights and the benefits, and
subject to all of the limitations and restrictions of, the Receivables Transfer
Agreement as is such rights, benefits, limitations and restrictions were set
forth herein in their entirety. 
Notwithstanding the foregoing, the Used Fee and the Unused Fee as
defined in and due and owing under the Amended and Restated Fee Letter for the
Settlement Period ending February 29, 2008, shall survive the termination
of the Amended and Restated Fee Letter and shall be due and owing hereunder on
the March 2008 Settlement Date.

 

                (b)  This letter agreement
may be executed in any number of counterparts, each of which, taken together,
shall constitute one and the same agreement.

 

                (c)  No amendment,
modification or waiver of any provision of this letter agreement shall be
effective without the written agreement of each of the parties hereto.  Any waiver or consent shall be effective only
in the specific instance and for the specified purpose for which given.

 

                (d)  This letter agreement
shall be governed by, and construed in accordance with, the laws of the State
of New York.

 

 

 

 

3

 

 

If
you are in agreement with the foregoing, kindly indicate your consent in the
space provided below.

 

	
   

  	
  TSPC, Inc.

  
	
   

  	
  as Transferor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  by:

  	
  /s/ Robert J. Zalupski

  
	
   

  	
   

  	
  Name:

  	
  Robert J. Zalupski

  
	
   

  	
   

  	
  Title:

  	
  Vice President & Treasurer

  

 

 

 

 

4

 

 

	
  Accepted and agreed as of the

  
	
  date first above written:

  
	
   

  
	
  JPMorganChase Bank, N.A.,

  
	
  as Administrative Agent

  
	
   

  
	
  by:

  	
  /s/ Cathleen D.
  Dettling

  	
   

  
	
   

  	
  Name:

  	
  Cathleen D. Dettling

  
	
   

  	
  Title:

  	
  Vice President

  
				

 

	
  J.P. Morgan Securities Inc.

  
	
   

  
	
   

  
	
  by:

  	
  /s/ Sherri Gerner

  	
   

  
	
   

  	
  Name:

  	
  Sherri Gerner

  
	
   

  	
  Title:

  	
  Executive Director

  
				

 

	
  Park Avenue Receivables Company LLC

  
	
   

  
	
  by:

  	
  JPMorgan Chase Bank, N.A., its Attorney-In-Fact

  
	
   

  
	
  by:

  	
  /s/ Cathleen D. Dettling

  	
   

  
	
   

  	
  Name:

  	
  Cathleen D. Dettling

  
	
   

  	
  Title:

  	
  Vice President

  
				

 

	
  JPMorgan Chase Bank, N.A.,

  
	
  as Committed Purchaser for Park Avenue Receivables
  Company LLC

  
	
   

  
	
   

  
	
  by:

  	
  /s/ Cathleen D. Dettling

  	
   

  
	
   

  	
  Name:

  	
  Cathleen D. Dettling

  
	
   

  	
  Title:

  	
  Vice President

  
				

 

	
  JPMorgan Chase Bank, N.A.,

  
	
  as Funding Agent for Park Avenue Receivables Company
  LLC

  
	
   

  
	
   

  
	
  by:

  	
  /s/ Cathleen D. Dettling

  	
   

  
	
   

  	
  Name:

  	
  Cathleen D. Dettling

  
	
   

  	
  Title:

  	
  Vice President

  
				

 

 

 

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00138-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00138-of-00352.parquet"}]]