Document:

exv4w3

 

Exhibit 4-3

SUPPLEMENTAL INDENTURE AND GUARANTY RELEASE

     This SUPPLEMENTAL INDENTURE AND GUARANTY RELEASE (this “Release”), is made as of
November 9, 2007, by HAYES LEMMERZ FINANCE LLC—LUXEMBOURG S.C.A. (the “Company”), each of
the guarantors listed on the signature pages hereto (the “Guarantors”), and U.S. BANK
NATIONAL ASSOCIATION, as Trustee (the “Trustee”).

R E C I T A L S

     WHEREAS, the Company, the Guarantors and the Trustee, among others, have entered into the
Indenture, dated as of May 30, 2007 (as amended, modified or otherwise supplemented through the
date hereof, the “Indenture”), relating to the Company’s 8-1/4% Senior Notes due 2015 (the
“Notes”);

     WHEREAS, pursuant to Section 4.19 of the Indenture and a Guaranty Agreement dated October 25,
2007 (the “Frenos Guaranty”), Hayes Lemmerz International – Frenos, S.A. de C.V. (“Frenos”)
is also a guarantor of the obligations of the Company with respect to the Notes;

     WHEREAS, on the date hereof HLI Brakes Holding Company, Inc. (“Brakes”) is selling to
a third party, directly or indirectly, 100% of the Capital Stock of each of Frenos and Hayes
Lemmerz International – Homer, Inc. (“Homer”), each of which, Frenos and Homer, is a
Guarantor with respect to the Notes and both of which together are hereinafter referred to as the
“Released Guarantors”;

     WHEREAS, Section 9.01 of the Indenture provides that the Indenture may be amended or
supplemented without the consent of any Holder of the Notes in order to release Guarantors from
their obligations with respect to the Notes;

     WHEREAS, Section 10.05 of the Indenture provides for the release of Guarantors from
their guarantee obligations with respect to the Indenture and the Notes upon a sale of 100% of the
Capital Stock of such Guarantors;

     WHEREAS, the net proceeds of a sale of 100% of the Capital Stock of such Guarantors is
subject to all applicable provisions of the Indenture, including Section 4.13; and

     WHEREAS, the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel to the effect that the sale of 100% of the Capital Stock of each of the Released Guarantors
was made in accordance with the provisions of the Indenture, including Section 4.13 thereof.

     NOW, THEREFORE, in consideration of the foregoing premises and other good and valuable
consideration, the sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:

 

 

     1. Capitalized terms used herein without definition shall have the respective meanings
provided therefor in the Indenture.

     2. The Released Guarantors are released from their obligations with respect to the Indenture
and the Notes, including their obligations as Guarantors thereunder and under the Frenos Guaranty.

     3. Except as expressly modified hereby, the Indenture is in all respects ratified and
confirmed and all the terms, conditions, and provisions thereof shall remain in full force and
effect. This Release shall form a part of the Indenture for all purposes, and every Holder shall
be bound hereby and entitled to the benefits hereof.

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

     5. The Trustee assumes no responsibility for the correctness of the recitals in this Release.

[Signature page follows.]

 

 

     IN WITNESS WHEREOF, this Release has been duly executed by the parties hereto as of the date
first written above.

	 	 	 	 	 
	 	HAYES LEMMERZ FINANCE LLC – LUXEMBOURG S.C.A.

By: Hayes Lemmerz Finance LLC,

Its Managing Shareholder

 
	 	By:  	/s/ Patrick C. Cauley
 	 
	 	 	Name:  	Patrick C. Cauley 	 
	 	 	Title:  	Vice President 	 
	 

 

 

	 	 	 	 	 
	 	RELEASED GUARANTORS:
 
	 
	 	HLI BRAKES HOLDING COMPANY, INC.

 
	 	By:  	/s/ Patrick C. Cauley
 	 
	 	 	Name:  	Patrick C. Cauley 	 
	 	 	Title:  	Vice President 	 
	 
	 	HAYES LEMMERZ INTERNATIONAL – HOMER, INC.

 
	 	By:  	/s/ Patrick C. Cauley
 	 
	 	 	Name:  	Patrick C. Cauley 	 
	 	 	Title:  	Vice President 	 
	 
	 	HAYES LEMMERZ INTERNATIONAL – FRENOS, S.A. de C.V.

 
	 	By:  	/s/ John A. Salvette
 	 
	 	 	Name:  	John A. Salvette 	 
	 	 	Title:  	Vice President 	 
	 

 

 

GUARANTORS:

HAYES LEMMERZ INTERNATIONAL, INC.

HLI PARENT COMPANY, INC.

HLI OPERATING COMPANY, INC.

HLI WHEELS HOLDING COMPANY, INC.

HLI POWERTRAIN HOLDING COMPANY, INC.

HLI COMMERCIAL HIGHWAY HOLDING COMPANY, INC.

HLI SERVICES HOLDING COMPANY, INC.

HLI SUSPENSION HOLDING COMPANY, INC.

HAYES LEMMERZ INTERNATIONAL — SEDALIA, INC.

HAYES LEMMERZ INTERNATIONAL — COMMERCIAL HIGHWAY, INC.

HAYES LEMMERZ INTERNATIONAL — CALIFORNIA, INC.

HAYES LEMMERZ INTERNATIONAL — GEORGIA, INC.

HAYES LEMMERZ INTERNATIONAL — HOWELL, INC.

HAYES LEMMERZ INTERNATIONAL — HUNTINGTON, INC.

HAYES LEMMERZ INTERNATIONAL — KENTUCKY, INC.

HAYES LEMMERZ INTERNATIONAL — LAREDO, INC.

HAYES LEMMERZ INTERNATIONAL — TECHNICAL CENTER, INC.

HAYES LEMMERZ INTERNATIONAL — WABASH, INC.

HAYES LEMMERZ INTERNATIONAL IMPORT, INC.

HLI REALTY, INC.

HLI NETHERLANDS HOLDINGS, INC.

HAYES LEMMERZ FINANCE LLC

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Patrick C. Cauley
 	 
	 	 	Name:  	Patrick C. Cauley 	 
	 	 	Title:  	Vice President 	 
	 

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 	 
	 	By:  	/s/ Thomas E. Tabor
 	 
	 	 	Name:  	Thomas E. Tabor 	 
	 	 	Title:  	Vice Presidentexv10w19

 

Exhibit 10-19

AMENDMENT NO. 3 TO RECEIVABLES FINANCING AGREEMENT

     THIS AMENDMENT NO. 3 TO RECEIVABLES FINANCING AGREEMENT (the “Amendment”) is entered
into as of May ___, 2007 by and among Hayes Funding II, Inc., a Delaware corporation (“Hayes
II”), the financial institutions party to the Financing Agreement (as defined below) as of the
date hereof (each a “Lender” and collectively, the “Lenders”), Citicorp USA, Inc.,
a Delaware corporation (“CUSA”), as program agent (the “Program Agent”) for the
Lenders and HLI Operating Company, Inc. as “Servicer” (“HLIOC”). Capitalized terms used
herein and not otherwise defined shall have the meanings ascribed to them in the Financing
Agreement.

PRELIMINARY STATEMENTS:

     WHEREAS, Hayes II, HLIOC, the Lenders and the Program Agent are parties to a Receivables
Financing Agreement, dated as of May 30, 2006 (as amended, restated, supplemented or otherwise
modified previously and from time to time hereafter, the “Financing Agreement”).

     WHEREAS, in consideration of the mutual agreements contained herein, and for other valuable
consideration, receipt of which is hereby acknowledged, the parties hereto have agreed to amend the
Financing Agreement as set forth herein.

NOW, THEREFORE, the parties hereto agree as follows:

AMENDMENTS TO FINANCING AGREEMENT. EFFECTIVE AS OF THE DATE HEREOF (THE “EFFECTIVE DATE”) AND
SUBJECT TO THE SATISFACTION OF THE CONDITIONS PRECEDENT SET FORTH IN SECTION 3 HEREOF, THE
FINANCING AGREEMENT IS HEREBY AMENDED AS FOLLOWS:

          The definition of “Applicable Margin” set forth in Section 1.01 of the Financing
Agreement is hereby amended and restated in its entirety as follows:

          “Applicable Margin” means, (i) with respect to Eurodollar Rate
Tranches, a per annum rate equal to 2.25% and (ii) with respect to Base Rate
Tranches, a per annum rate equal to 1.25%.

          The definition of “Commitment Termination Date” set forth in Section 1.01 of the Financing
Agreement is hereby amended and restated in its entirety as follows:

          “Commitment Termination Date” means the earliest of (a) May ___,
2013, (b) the date declared (or deemed to be declared) as such by the
Program Agent pursuant to Section 7.01 hereof and (c) the date which
is 5 Business Days after the Program Agent’s receipt of written notice from
Borrower pursuant to Section 2.01(b) hereof that it wishes to
terminate the facility evidenced by this Agreement and the other Transaction
Documents.

          The definition of “Credit Agreement” set forth in Section 1.01 of the Financing Agreement is
hereby amended and restated in its entirety as follows:

          “Credit Agreement” means that certain Second Amended and
Restated Credit Agreement dated as of May 30, 2007, among HLIOC and Hayes
Lemmerz Finance-Luxembourg S.A. as borrowers, Parent, the “Lenders” and
“Issuers” party thereto, Citicorp North America, Inc. as administrative
agent, Deutsche Bank Securities Inc. as syndication agent, Citicorp North
America, Inc. as documentation agent, and Citigroup Global Markets Inc. and
Deutsche Bank Securities Inc. as joint book-running lead managers and joint
lead arrangers, as amended, restated, supplemented or otherwise modified
from time to time.

          The definition of “Intercreditor Agreement” set forth in Section 1.01 of the Financing
Agreement is hereby amended and restated in its entirety as follows:

          “Intercreditor Agreement” means that certain Amended and
Restated Intercreditor Agreement dated as of May 30, 2007 by and among the
Program Agent, SPE I, the Borrower, the Parent, the Originators, and Citicorp North
America, Inc., in its capacity as administrative agent under the Credit
Agreement, as the same may be amended, restated, supplemented or otherwise
modified from time to time.

 

 

REPRESENTATIONS AND WARRANTIES. ON AND AS OF THE EFFECTIVE DATE, HAYES II AND HLIOC EACH
REPRESENTS AND WARRANTS TO THE PROGRAM AGENT AND THE LENDERS THAT (I) ALL OF THE REPRESENTATIONS
AND WARRANTIES MADE BY IT IN THE TRANSACTION DOCUMENTS ARE TRUE AND CORRECT IN ALL RESPECTS AS
THOUGH MADE TO EACH OF THE PROGRAM AGENT AND THE LENDERS ON AND AS OF THE EFFECTIVE DATE (OTHER
THAN REPRESENTATIONS AND WARRANTIES WHICH EXPRESSLY SPEAK AS OF A DIFFERENT DATE, WHICH
REPRESENTATIONS SHALL BE MADE ONLY ON SUCH DATE) AND (II) NO EVENT OF TERMINATION, INCIPIENT EVENT
OF TERMINATION, OR SERVICER DEFAULT HAS OCCURRED AND IS CONTINUING.

EFFECTIVE DATE. THE “EFFECTIVE DATE” SHALL OCCUR UPON THE SATISFACTION OF THE FOLLOWING
CONDITIONS PRECEDENT:

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

The Program Agent shall have received evidence reasonably satisfactory to it that the Credit
Agreement, as amended, has become effective.

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

The Program Agent shall have received certificates as to the good standing of each of Hayes II and
HLIOC from the Secretary of State of the jurisdiction of such Person’s organization.

The Program Agent shall have received copies of the resolutions of each of Hayes II’s and HLIOC’s
board of directors approving this Amendment and the Financing Agreement as amended hereby,
certified by the secretary or assistant secretary of Hayes II and HLIOC, respectively.

The Program Agent shall have received an executed reaffirmation of Performance Undertaking
(Servicer), substantially in the form of Exhibit A attached hereto, dated the date hereof duly
executed by an authorized officer of the Parent confirming that the Performance Undertaking
(Servicer) remains in full force and effect.

The Program Agent shall have received an executed reaffirmation of Performance Undertaking
(Originators), substantially in the form of Exhibit B attached hereto, dated the date hereof duly
executed by authorized officers of the Parent and HLIOC confirming that the Performance Undertaking
(Originators) remains in full force and effect.

The Program Agent shall have received opinion of Skadden, Arps, Slate, Meagher & Flom LLP, as
counsel for Hayes II and HLIOC, as to enforceability and non-contravention matters.

The Program Agent shall have received opinion of Steven Essau, counsel for Hayes II and HLIOC, as
to corporate matters.

The Program Agent and Citicorp North America, Inc., in its capacity as administrative agent under
the Credit Agreement, shall have executed the Intercreditor Agreement, which agreement shall be in
form and substance satisfactory to the Program Agent, and the Program Agent shall have received a
fully executed copy of the Intercreditor Agreement.

The Program Agent, on behalf of the Lenders, shall have received in immediately available funds, an
amendment fee payable to each Lender in an amount equal to the product of (A) 0.25% and (B) such
Lender’s Commitment as of the date hereof (in respect of any Lender, the “Amendment Fee”). 
Upon its receipt thereof, the Program Agent will promptly remit each Lender’s Amendment Fee to such
Lender

The Program Agent shall have received all fees payable to the Program Agent pursuant to that
certain fee letter dated as of May [___], 2007.

REFERENCE TO AND EFFECT ON THE LOAN DOCUMENTS.

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

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

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

COSTS AND EXPENSES. HAYES II AGREES TO PAY UPON DEMAND IN ACCORDANCE WITH THE TERMS OF SECTION
10.04(A)(VIII) OF THE FINANCING AGREEMENT ALL REASONABLE COSTS AND EXPENSES OF THE PROGRAM AGENT IN
CONNECTION WITH THE PREPARATION, REPRODUCTION, NEGOTIATION, EXECUTION AND DELIVERY OF THIS
AMENDMENT, INCLUDING, WITHOUT LIMITATION, THE REASONABLE FEES, EXPENSES AND DISBURSEMENTS OF SIDLEY
AUSTIN LLP, COUNSEL FOR THE PROGRAM AGENT WITH RESPECT TO ANY OF THE FOREGOING.

MISCELLANEOUS. THE HEADINGS HEREIN ARE FOR CONVENIENCE OF REFERENCE ONLY AND SHALL NOT ALTER
OR OTHERWISE AFFECT THE MEANING HEREOF.

COUNTERPARTS. THIS AMENDMENT MAY BE EXECUTED IN ANY NUMBER OF COUNTERPARTS AND BY THE
DIFFERENT PARTIES HERETO IN SEPARATE COUNTERPARTS, EACH OF WHICH WHEN SO EXECUTED AND DELIVERED BY
FACSIMILE SHALL BE AN ORIGINAL, BUT ALL OF WHICH SHALL TOGETHER CONSTITUTE ONE AND THE SAME
INSTRUMENT.

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

* * *

 

 

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

	 	 	 	 	 
	 	HAYES FUNDING II, INC.

 	 
	 	By:  	/s/ Gary Findling
 	 
	 	 	Gary Findling 	 
	 	 	Treasurer 	 
	 
	 	HLI OPERATING COMPANY, INC.

 	 
	 	By:  	/s/ Gary Findling
 	 
	 	 	Gary Findling 	 
	 	 	Treasurer 	 
	 

Signature Page to 

AMENDMENT NO. 3 TO RECEIVABLES FINANCING AGREEMENT

 

 

	 	 	 	 	 
	 	CITICORP USA, INC.,

as Program Agent and as a Lender

 	 
	 	By:  	/s/ Keith R. Gerding
 	 
	 	 	Keith R. Gerding 	 
	 	 	Vice President 	 
	 

Signature Page to 

AMENDMENT NO. 3 TO RECEIVABLES FINANCING AGREEMENT 

 

 

	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as a Lender
	 
	 	 	 	 
	 

	 	By:
	 	Walter T. Shellman
	 

	 	 	 	 
	 

	 	Name:
	 	Walter T. Shellman
	 

	 	Title:
	 	Sr. Vice President

Signature Page to 

AMENDMENT NO. 3 TO RECEIVABLES FINANCING AGREEMENT

 

 

	 	 	 	 	 
	 	 	CIT GROUP BUSINESS CREDIT, INC., as a Lender
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Jang Kim
	 

	 	 	 	 
	 

	 	Name:
	 	Jang Kim
	 

	 	Title:
	 	Vice President

Signature Page to 

AMENDMENT NO. 3 TO RECEIVABLES FINANCING AGREEMENT

 

 

EXHIBIT A

FORM OF

REAFFIRMATION OF PERFORMANCE UNDERTAKING (SERVICER)

[Attached]

149

 

EXHIBIT B

FORM OF

REAFFIRMATION OF PERFORMANCE UNDERTAKING (ORIGINATORS)

[Attached]

150

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