Document:

EXHIBIT 10.8

                               SERVICING AGREEMENT
                               -------------------

     SERVICING AGREEMENT (as amended, restated, supplemented or otherwise
modified and in effect from time to time, the "Agreement"), dated as of February
28, 2003, by and among TRW AUTOMOTIVE GLOBAL RECEIVABLES LLC, a Delaware limited
liability company (the "Borrower"), TRW AUTOMOTIVE U.S. LLC, a Delaware limited
liability company ("TRW U.S."), as the initial Collection Agent (as defined
below) hereunder, the Persons identified on Schedule I (each a "Seller" and,
collectively, the "Sellers"), as Sub-Collection Agents (as defined below) and
JPMorgan Chase Bank, as administrative agent (together with any successor
thereto in such capacity, the "Administrative Agent") under the Receivables Loan
Agreement referred to below. TRW AUTOMOTIVE EUROPE RECEIVABLES LIMITED, a
limited liability company incorporated under laws of Ireland (the "European
Purchaser") may be added as a party hereto hereunder upon the agreement of the
other parties hereto and in accordance with the terms of the Receivables Loan
Agreement; until the European Purchaser becomes a party hereto in accordance
with the foregoing, all references in the body of this Agreement to the
"European Collateral Account", "European Loan Agreement" and "European
Purchaser", shall have no force or effect.

                             PRELIMINARY STATEMENTS

     A. The Transferor may from time to time purchase Receivables from the North
American Originators pursuant to the North American Originator Purchase
Agreement. In addition, the Transferor may from time to time make loans to the
European Purchaser under the European Loan Agreement, the proceeds of which will
be used to purchase Receivables from the European Originators pursuant to the
European Originator Purchase Agreements.

     B. Pursuant to the Transfer Agreement, the Borrower shall purchase from the
Transferor (i) all Receivables sold to the Transferor under the North American
Purchase Agreement and (ii) all loans made by the Transferor under the European
Loan Agreement.

     C. Each of the Borrower, the European Purchaser (if a party hereto) and the
Secured Parties desires that the Collection Agent shall conduct the servicing,
administering and collection of the Pool Receivables on the terms and subject to
the conditions set forth in this Agreement.

     D. Each of the Sellers has agreed to act as a Sub-Collection Agent in
accordance with the terms and subject to the conditions set forth in this
Agreement.

     E. The Collection Agent and the Sub-Collection Agents (each a "Collection
Agent Party" and, collectively, the "Collection Agent Parties") intend to
conduct the servicing, administration, collection and management of the Pool
Receivables on the terms and subject to the conditions set forth in this
Agreement.

     NOW, THEREFORE, in consideration of the premises and of the mutual
covenants and agreements contained herein, the parties hereto agree as follows:

                                    ARTICLE I
                                   DEFINITIONS

     1.1 Definitions. Unless otherwise defined herein, capitalized terms which
are used herein shall have the meanings assigned to such terms in the
Receivables Loan Agreement dated as of February 27, 2003 among the Borrower, TRW
U.S., as Collection Agent, the entities from time to time parties thereto as
"Conduit Lenders," "Committed Lenders" and "Funding Agents" and the
Administrative Agent (as amended, restated, supplemented or otherwise modified
from time to time, the "Receivables Loan Agreement").

     1.2 Other Terms. All accounting terms not specifically defined herein shall
be construed in accordance with GAAP. All terms used in Article 9 of the UCC in
the State of New York, as in effect on the date hereof and not specifically
defined herein, are used herein as defined in such Article 9. Unless otherwise
expressly indicated, all references herein to "Article," "Section," "Schedule"
or "Exhibit" means articles and sections of, and schedules and exhibits to, this
Agreement. Headings are for purposes of reference only and shall not otherwise
affect the meaning or interpretation of any provision hereof. All terms defined
directly or by incorporation herein shall have the defined meanings when used in
any certificate or other document delivered pursuant hereto unless otherwise
defined therein.

                                   ARTICLE II
                         ADMINISTRATION AND COLLECTIONS

     2.1 Designation of Collection Agent. The servicing, administration,
collection and management of the Pool Receivables shall be conducted by the
Person so designated hereunder from time to time (such Person, the "Collection
Agent"). Until the Administrative Agent (with the consent or at the direction of
the Required Committed Lenders) gives notice to the Borrower and the European
Purchaser of the designation of a new Collection Agent (which notice may be
given at any time following the occurrence and during the continuation of a
Collection Agent Default), TRW U.S. is hereby designated as, and hereby agrees
to perform the duties and obligations of, the Collection Agent pursuant to the
terms of this Agreement and the other Transaction Documents. TRW U.S. may not
resign from the obligations and liabilities hereby imposed on it. The
Administrative Agent may, and at the direction of the Required Committed Lenders
shall, at any time after the occurrence and during the continuation of a
Collection Agent Default, designate as Collection Agent any Person (including
itself) to succeed TRW U.S. or any successor Collection Agent, on such terms and
conditions as the Administrative Agent and such successor Collection Agent shall
agree. The Collection Agent may, with the prior consent of the Required
Committed Lenders, subcontract with any other Person for the servicing,
administration, collection or management of the Receivables (each such Person a
"Sub-Collection Agent"); provided that TRW U.S. may without such consent
delegate its duties as Collection Agent hereunder to any Affiliate. Any such
subcontract or delegation shall not affect the Collection Agent's liability for
performance of its duties and obligations pursuant to the terms hereof. Without
limiting the generality of the foregoing, any action taken or omitted to be
taken by any Person that has entered into a subcontract with the Collection
Agent or to whom the Collection Agent has delegated any of its duties
(including, without limitation, any Seller) shall be deemed to be an action or
omission by the Collection Agent (including, without limitation, for purposes of
determining whether any Receivable is a Diluted

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Receivable and for purposes of Sections 2.6 of this Agreement and 10.01 of the
Receivables Loan Agreement).

     2.2 Duties of Collection Agent.

         (a) The Collection Agent shall take or cause to be taken all such
actions as may be necessary or advisable to collect and manage each Pool
Receivable from time to time, all in accordance in all material respects with
applicable Laws and in accordance with the Credit and Collection Policy. The
Borrower, the European Purchaser and the Administrative Agent hereby appoint the
Collection Agent, from time to time designated pursuant to Section 2.1, as their
agent to enforce their respective rights and interests in the Pool Receivables,
the Related Security and the related Contracts. In performing its duties as
Collection Agent, the Collection Agent shall exercise reasonable care and
diligence and shall use the same care and apply the same policies as it would
exercise and apply if it owned such Pool Receivables and shall act in such
manner as it reasonably deems to be in the best interests of the Lenders and the
Administrative Agent. Following the occurrence and during the continuation of a
Collection Agent Default, if the Termination Date has occurred, the
Administrative Agent shall have the sole right to direct the Collection Agent to
commence or settle any legal action to enforce collection of any Receivable or
any Related Security with respect thereto.

         (b) The Collection Agent shall perform and shall comply with, and
agrees to be bound by, the terms of the Receivables Loan Agreement and the
European Loan Agreement in the same manner as if it were a party thereto.
Without limiting the generality of the foregoing, the Collection Agent shall (i)
administer, manage and apply the Collections in accordance with Article II of
each of the Receivables Loan Agreement and the European Loan Agreement and (ii)
cause Accountants' Letters to be delivered, at its own expense, as and when
required pursuant to Section 5.02(b) of the Receivables Loan Agreement.

         (c) If no Termination Event shall have occurred and be continuing, the
Collection Agent, may, in accordance with the Credit and Collection Policy,
extend the maturity or adjust the Outstanding Balance of any Pool Receivable as
the Collection Agent deems appropriate to maximize Collections thereof, provided
that the classification of any such Pool Receivable as a Delinquent Receivable
or Defaulted Receivable shall not be affected by any such extension, and
provided further that if such Pool Receivable is an Eligible Receivable, the
Collection Agent shall not amend or modify such Pool Receivable or any Contract
related thereto in a manner that would cause such Receivable to cease to be an
Eligible Receivable unless (i) following such amendment or modification the
Percentage Factor would not exceed the Maximum Percentage Factor, as determined
by the most recent Portfolio Report delivered hereunder, and (ii) the applicable
Originator has granted or paid all Purchase Price Credits (as defined in the
applicable Originator Purchase Agreement) required in connection therewith.
Following the occurrence and during the continuation of a Termination Event, the
Collection Agent may grant such extensions or adjustments only with the prior
written consent of the Administrative Agent. In no event shall the Collection
Agent be entitled to make any Lender, any Funding Agent or the Administrative
Agent a party to any litigation involving the Transaction Documents or the
Receivables without such Lender's, such Funding Agent's or the Administrative
Agent's prior written consent.

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         (d) The Collection Agent shall hold in trust for the Borrower, the
European Purchaser, the Administrative Agent, the Funding Agents and each
Lender, in accordance with their respective interests, all documents,
instruments and records (including, without limitation, computer tapes or disks)
which evidence or relate to Pool Receivables or Related Security. The Collection
Agent shall mark or cause to be marked the Borrower's, the European Purchaser's,
the Transferor's and each Originator's master data processing records evidencing
the Pool Receivables with a legend, reasonably acceptable to the Administrative
Agent, evidencing that the Pool Receivables have been sold to the Borrower or
the European Purchaser (as applicable) and a security interest has been granted
in favor of the Administrative Agent.

         (e) The Collection Agent shall, as soon as practicable following
receipt and identification thereof, and in any event within one Business Day,
turn over to the Borrower (in the case of any North American Collection Account
or North American Concentration Account), the European Purchaser (in the case of
any European Collection Account or European Concentration Account) or such other
Person as may be entitled thereto any cash collections or other cash proceeds
received in the Collection Accounts or the Concentration Accounts and not
constituting Collections of Collateral.

     2.3 Reports.

         (a) Monthly Report. No later than 4:00 p.m., New York City time, on
each Monthly Reporting Date, the Collection Agent shall deliver to the
Administrative Agent, each Funding Agent, the Borrower and the European
Purchaser a Monthly Report containing the information listed in Exhibit A-1 as
of the close of business on the last Business Day of the immediately preceding
Calculation Period and such other information as the Administrative Agent or any
Funding Agent may reasonably request.

         (b) Weekly Reports. No later than 4:00 p.m., New York City time, on the
third Business Day of each calendar week, for so long as the Collection Agent is
not required to deliver Daily Reports hereunder, the Collection Agent shall
deliver to the Administrative Agent, each Funding Agent, the Borrower and the
European Purchaser a Weekly Report setting forth the information listed in
Exhibit A-2 as of the close of business on the last Business Day of the
immediately preceding week, and such other information as the Administrative
Agent or any Funding Agent may reasonably request.

         (c) Daily Reports. No later than 4:00 p.m., New York City time, on each
Business Day commencing on the date which falls six months after the Closing
Date (or, if the Performance Guarantor does not have a published Debt Rating
from S&P of at least B and from Moody's of at least B2, on the date which falls
three months after the Closing Date) the Collection Agent shall deliver to the
Administrative Agent, each Funding Agent, the Borrower and the European
Purchaser a Daily Report setting forth the information listed in Exhibit A-3 as
of the close of business on the second preceding Business Day, and such other
information as the Administrative Agent or any Funding Agent may reasonably
request; provided that during any such period when the Performance Guarantor has
a published Debt Rating from S&P of at least B+ and from Moody's of at least B1,
no such Daily Report shall be required unless the Percentage Factor exceeds 80%,
in which case a Daily Report shall be required on second

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Business Day following the 29th day of each calendar month with respect to such
day (or, if such 29th day is not a Business Day or if there is no such 29th day,
in the case of February, the next succeeding Business Day).

         (d) Transmission of Portfolio Reports. The Collection Agent shall
transmit each Portfolio Report to each Funding Agent by electronic mail. In
addition, the Collection Agent shall transmit a copy of each such Portfolio
Report to the Administrative Agent and, upon request, each Funding Agent by
facsimile (certified by a Financial Officer of the Collection Agent or such
other employee of the Collection Agent as shall have primary responsibility for
the preparation of such report and shall have been authorized to certify
Portfolio Reports hereunder by a Financial Officer).

         (e) Notice of Termination Events. The Collection Agent shall provide to
the Administrative Agent and each Funding Agent, promptly, and in any event
within one Business Day after a Responsible Officer of the Collection Agent
obtains actual knowledge thereof, notice of any Termination Event or Incipient
Termination Event.

         (f) Notice of Downgrades. Promptly after a Responsible Officer of the
Collection Agent obtains actual knowledge thereof, the Collection Agent shall
provide to each Funding Agent notice of any downgrade in the Debt Rating (or the
withdrawal by either S&P or Moody's of a Debt Rating) of the Performance
Guarantor, setting forth the Indebtedness affected and the nature of such change
(or withdrawal).

         (g) Notice of Litigation; Material Adverse Effect. Promptly after a
Responsible Officer of the Collection Agent obtains actual knowledge thereof,
the Collection Agent shall provide to the Administrative Agent and each Funding
Agent notice of:

               (i) the filing or commencement of, or any written threat or
notice of intention of any person to file or commence, any action, suit or
proceeding, whether at law or in equity or by or before any Official Body or in
arbitration, against the Collection Agent or any of its Subsidiaries as to which
an adverse determination is reasonably probable and which could reasonably be
expected to have a Material Adverse Effect; and

               (ii) any other development that is not a matter of general public
knowledge and that has had, or could reasonably be expected to have, a Material
Adverse Effect.

         (h) Other Information. The Collection Agent shall provide to the
Administrative Agent and each Funding Agent, promptly upon request, such other
information respecting the Receivables or the condition or operations, financial
or otherwise, of the Collection Agent (including, without limitation,
information regarding any pending or threatened litigation) as the
Administrative Agent or any Funding Agent may from time to time reasonably
request.

     2.4 Transition to Successor Collection Agent. If replaced as Collection
Agent, TRW U.S. agrees that it will (i) terminate, and cause each existing
Sub-Collection Agent to terminate, its collection activities in a manner and to
the extent requested by the Administrative Agent to facilitate the transition to
a new Collection Agent and (ii) transfer to the Administrative Agent (or its
designee), or (to the extent permitted by applicable Law and contract) license
to the

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Administrative Agent (or its designee) the use of, all software used in
connection with the collection of the Pool Receivables. To the extent any such
transfer or license would require the payment of any license fee or other
amount, TRW U.S. agrees to pay such fee or other amount out of its own funds
promptly upon demand by the Administrative Agent. TRW U.S. shall cooperate with
and assist any successor Collection Agent in the performance of its
responsibilities as Collection Agent (including, without limitation, providing
access to, and transferring, to such successor Collection Agent all records
related to the Collateral and allowing (to the extent permitted by applicable
law and contract) the successor Collection Agent to use all licenses, hardware
or software necessary or desirable to collect or obtain or store information
regarding the Pool Receivables. TRW U.S. irrevocably agrees to act (to the
extent requested to do so by the Administrative Agent) as the data-processing
agent for any successor Collection Agent in substantially the same manner as TRW
U.S. conducted such data-processing functions while it acted as the Collection
Agent.

     2.5 Sub-Collection Agents.

         (a) As the initial Collection Agent, TRW U.S. hereby appoints each
Seller to be its Sub-Collection Agent with respect to the Pool Receivables
originated by such Seller. Each Seller hereby accepts such appointment and
agrees to act as Sub-Collection Agent in accordance with the terms and
conditions set forth herein and in the other Transaction Documents.

         (b) Each Sub-Collection Agent shall take or cause to be taken all such
actions as may be necessary or advisable to collect each Pool Receivable for
which it acts as Sub-Collection Agent from time to time, all in accordance in
all material respects with applicable Laws and in accordance with the Credit and
Collection Policy. In performing its duties as Sub-Collection Agent, each
Sub-Collection Agent shall exercise reasonable care and diligence and shall use
the same care and apply the same policies as it would exercise and apply if it
owned such Pool Receivables and shall act in such manner as it reasonably deems
to be in the best interests of the Lenders and the Administrative Agent. Each
Sub-Collection Agent agrees to be bound by the provisions of Section 2.2(c) to
the same extent as if it were the Collection Agent.

         (c) Each Sub-Collection Agent shall hold in trust for the Borrower, the
European Purchaser, the Administrative Agent, the Funding Agents and each
Lender, in accordance with their respective interests, all documents,
instruments and records (including, without limitation, computer tapes or disks)
which evidence or relate to Pool Receivables or Related Security. Each
Sub-Collection Agent shall mark its master data processing records evidencing
the Pool Receivables with a legend, reasonably acceptable to the Administrative
Agent, evidencing that the Pool Receivables have been sold to the Borrower or
the European Purchaser (as applicable) and a security interest has been granted
in favor of the Administrative Agent.

         (d) To the extent the Administrative Agent is entitled to exercise any
rights or remedies with respect to the Collection Agent, each Sub-Collection
Agent acknowledges and agrees that the Administrative Agent may exercise the
same rights and remedies against such Sub-Collection Agent with respect to the
Pool Receivables originated by such Sub-Collection Agent. Without limiting the
generality of the foregoing, each Sub-

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Collection Agent hereby acknowledges and agrees that its appointment as
Sub-Collection Agent hereunder shall automatically terminate upon the
appointment of a new Collection Agent in accordance with the terms hereof. Upon
the designation of a successor Collection Agent, each Seller agrees that it will
(i) terminate its collection activities in a manner and to the extent requested
by the Administrative Agent to facilitate the transition to a new Collection
Agent and (ii) transfer to the Administrative Agent (or its designee), or (to
the extent permitted by applicable Law and contract) license to the
Administrative Agent (or its designee) the use of, all software used by such
Seller in connection with the collection of the Pool Receivables. To the extent
any such transfer or license would require the payment of any license fee or
other amount, such Seller agrees to pay such fee or other amount out of its own
funds promptly upon demand by the Administrative Agent. Each Seller shall
cooperate with and assist any successor Collection Agent in the performance of
its responsibilities as Collection Agent (including, without limitation,
providing access to, and transferring, to such successor Collection Agent all
records related to the Collateral and allowing (to the extent permitted by
applicable law and contract) the successor Collection Agent to use all licenses,
hardware or software necessary or desirable to collect or obtain or store
information regarding the Receivables. Each Seller irrevocably agrees to act (to
the extent requested to do so by the Administrative Agent) as the
data-processing agent for any successor Collection Agent in substantially the
same manner as such Seller conducted such data-processing functions while it
acted as a Sub-Collection Agent.

         (e) On or prior to the close of business on the Business Day
immediately preceding each Reporting Date, each Sub-Collection Agent shall
deliver a report to the Collection Agent a report (each an "Originator Report")
in the form attached hereto as Exhibit A-4 with respect to the Receivables for
which it acts as Sub-Collection Agent.

     2.6 Indemnities.

         (a) Indemnities by Collection Agent. Without limiting any other rights
that the Indemnified Parties may have under the Transaction Documents or under
applicable law, and in consideration of its appointment as Collection Agent, TRW
U.S. hereby agrees to indemnify each Secured Party, the Borrower, the Transferor
and the European Purchaser (collectively, the "Indemnified Parties") from and
against any and all damages, losses, claims, liabilities, deficiencies, costs,
disbursements and expenses, including, without limitation, interest, penalties,
amounts paid in settlement and reasonable attorneys' fees (all of the foregoing
being collectively referred to as "Special Indemnified Amounts") arising out of
or resulting from any of the following (excluding, however, (a) Special
Indemnified Amounts to the extent such Special Indemnified Amounts resulted from
gross negligence or willful misconduct on the part of such Indemnified Party and
(b) any income taxes or any other tax or fee measured by income incurred by such
Indemnified Party arising out of or as a result of this Agreement or the
Collateral or any interest of the Secured Parties therein):

         (i) any representation, warranty, certification, report or other
     statement made or deemed made by any Collection Agent Party under or in
     connection with this Agreement or any other Transaction Document which
     shall have been incorrect in any respect when made or deemed made;

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         (ii) the failure by any Collection Agent Party to comply with any
     applicable Law;

         (iii) any failure of any Collection Agent Party to perform its duties
     or obligations in accordance with the provisions of this Agreement or any
     other Transaction Document;

         (iv) the commingling of Collections of Collateral at any time by any
     Collection Agent Party or any Affiliate of a Collection Agent Party (other
     than the Borrower, the Transferor or the European Purchaser) with other
     funds;

         (v) any action by any Collection Agent Party (other than an action
     required by the Transaction Documents) reducing or impairing the rights of
     the Borrower, the European Purchaser, the Transferor or the Secured Parties
     with respect to any Pool Receivable or the value of any Pool Receivable;

         (vi) any Servicing Fees or other costs and expenses payable to any
     replacement Collection Agent, to the extent in excess of the Servicing Fees
     payable to TRW U.S. in its capacity as Collection Agent hereunder;

         (vii) any claim brought by any Person arising from any activity by any
     Collection Agent Party or Affiliate thereof in servicing, administering or
     collecting any Pool Receivable;

         (viii) any change in the Credit and Collection Policy by any Collection
     Agent Party which impairs the collectibility of any Receivable or the
     ability of any Collection Agent Party to perform its obligations under this
     Agreement;

         (ix) any failure by any Collection Agent Party to fully comply in all
     material respects with the Credit and Collection Policy in regard to each
     Pool Receivable and the related Contract; or

         (x) the Percentage Factor exceeding the Maximum Percentage Factor as of
     the close of business on the Business Day immediately preceding any Release
     Date or Borrowing Date.

         (b) Indemnities by Sub-Collection Agents. Without limiting any other
rights that the Indemnified Parties may have under the Transaction Documents or
under applicable law, and in consideration of its appointment as a
Sub-Collection Agent, each Seller hereby agrees to indemnify each Indemnified
Party from and against any and all Special Indemnified Amounts arising out of or
resulting from any action, omission or breach of such Seller of a type described
in any of clauses (i) through (x) of Section 2.6(a) above (excluding, however,
(a) Special Indemnified Amounts to the extent such Special Indemnified Amounts
resulted from gross negligence or willful misconduct on the part of such
Indemnified Party and (b) any income taxes or any other tax or fee measured by
income incurred by such Indemnified Party arising out of or as a result of this
Agreement or the Collateral or any interest of the Secured Parties therein).

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         (c) Construction. Notwithstanding anything to the contrary in this
Agreement, solely for purposes of the indemnification obligations described in
this Section 2.6, any representation, warranty or covenant of a Collection Agent
Party qualified by the occurrence or non-occurrence of a Material Adverse Effect
or similar concepts of materiality shall be deemed to be not so qualified.

     2.7 Concentration Accounts. On or prior to the date hereof, the Collection
Agent shall establish, in the name of the Transferor or the European Purchaser
(as applicable), with an Eligible Account Bank, a segregated account for each
Approved Currency (each a "Concentration Account"), bearing a designation
clearly indicating that the funds deposited therein are held for the benefit of
the Secured Parties. The Collection Agent shall cause all Collections deposited
into any Collection Account or otherwise received by the Collection Agent or any
other Transaction Party to be transferred to the applicable currency
Concentration Account on or prior to the next Business Day following the day on
which such Collections are so deposited or received. If the bank at which a
Concentration Account is maintained ceases to be an Eligible Account Bank, the
Collection Agent shall promptly and in any event within 30 days establish a new
Concentration Account for the relevant currency at an Eligible Account Bank and
shall deliver to the Administrative Agent a duly executed Control Agreement
covering such Concentration Account. Upon such establishment and delivery, all
funds on deposit in the prior Concentration Account for such currency shall be
transferred to the new Concentration Account. The Collection Agent shall not at
any time use more than one Concentration Account for any Approved Currency
unless such use has been approved in writing by the Administrative Agent.

     2.8 Collateral Accounts.

         (a) On or prior to the Closing Date, the Administrative Agent shall
cause to be established, in its own name at an Eligible Account Bank, a
segregated account for each Approved Currency (each, a "Collateral Account"),
bearing a designation clearly indicating that the funds deposited therein are
held for the benefit of the Secured Parties.

         (b) Each of the Borrower, the European Purchaser and the Collection
Agent agrees that the Administrative Agent shall have exclusive dominion and
control over the Collateral Accounts and all monies, instruments and other
property from time to time deposited in or credited to the Collateral Accounts.

         (c) The Administrative Agent may invest funds on deposit in any
Collateral Account, reinvest proceeds of any such investments which may mature
or be sold, and invest interest or other income received from any such
investments, in each case in such Permitted Investments as the Collection Agent
may select (or, in the absence of any such selection by the Collection Agent, as
the Administrative Agent may select in its sole discretion); provided that each
such Permitted Investment shall have a maturity date no later than the next
succeeding Settlement Date. Such proceeds, interest or income which are not so
invested or reinvested in Permitted Investments shall, except as otherwise
provided in this Agreement, be deposited and held in the applicable Collateral
Account; provided that, prior to the Termination Date, any interest or income in
respect of such Permitted Investments shall, at the direction of the Collection
Agent be deposited into the applicable Concentration Account and applied as
Collections in accordance with Section 2.06 of the Receivables Loan Agreement.
Neither the

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Administrative Agent nor any of its Affiliates shall be liable to the Borrower,
the European Purchaser, the Collection Agent, any Secured Party or any other
Person for, or with respect to, any decline in value of amounts on deposit in
any Collateral Account. Permitted Investments from time to time purchased and
held pursuant to this Section 2.8 shall be referred to as "Collateral
Securities" and shall, for purposes of this Agreement and each other Transaction
Document, constitute part of the funds held in the applicable Collateral Account
in amounts equal to their respective outstanding principal amounts. Each such
Permitted Investment shall be made in the name of the Administrative Agent or
its designee.

         (d) Following the occurrence of any Termination Event, the
Administrative Agent may, at any time or from time to time after funds are
either deposited in a Collateral Account or invested in Collateral Securities,
after selling, if necessary, any Collateral Securities, withdraw funds then held
in such Collateral Account and apply the same in accordance with the priority of
payments set forth in Section 2.07 of the Receivables Loan Agreement. Each of
the Borrower and the European Purchaser agrees that Permitted Investments are of
a type customarily sold on a recognized market and, accordingly, no notice of
sale of any Permitted Investments shall be required. To the extent notice of
sale of any Collateral Securities shall be required by law, at least ten days'
notice to the Borrower of the time and place of any public sale or the time
after which any private sale is to be made shall constitute reasonable
notification. The Administrative Agent may adjourn any public or private sale
from time to time by announcement at the time and place fixed therefor, and such
sale may, without further notice, be made at the time and place to which it was
so adjourned.

         (e) The Administrative Agent shall have the sole right of withdrawal
with respect to each Collateral Account. None of the Borrower, the European
Purchaser, the Collection Agent or any Person claiming on behalf of or through
the Borrower, the European Purchaser or the Collection Agent shall have any
right to withdraw any of the funds held in any Collateral Account.

         (f) The Administrative Agent shall exercise reasonable care in the
custody and preservation of any funds held in the Collateral Accounts and shall
be deemed to have exercised such care if such funds are accorded treatment
substantially equivalent to that which the Administrative Agent accords its own
property, it being understood that the Administrative Agent shall not have any
responsibility for taking any necessary steps to preserve rights against any
parties with respect to any such funds.

         (g) On the Final Payout Date, any funds remaining on deposit in the
North American Collateral Accounts shall be paid to the Borrower and any funds
remaining on deposit in the European Collateral Account shall be paid to the
European Purchaser.

     2.9 Collection Agent Default. If any one or more of the following events
shall occur (each, a "Collection Agent Default"):

         (a) (i) any Collection Agent Party or, to the extent that any
     Originator or any Affiliate of an Originator is then a Collection Agent
     Party, such Originator or such Affiliate, as applicable, shall fail to
     observe or perform any material term, covenant or agreement under this
     Agreement or any other Transaction Document

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     (other than as referred to in clauses (ii) and (iii) of this Section
     2.9(a)), and such failure shall remain unremedied for ten days after a
     Responsible Officer of such Collection Agent Party has knowledge or obtains
     notice thereof or (ii) the Collection Agent or, to the extent that any
     Originator or any Affiliate of an Originator is then acting a Collection
     Agent Party, such Originator or such Affiliate, as applicable, shall fail
     to make any payment or deposit required to be made by it under this
     Agreement or any other Transaction Document when due and such failure
     remains unremedied for one Business Day, (iii) the Collection Agent shall
     fail to deliver any Weekly Report or Monthly Report within two Business
     Days of the date when due or any Daily Report within one Business Day of
     the date when due or shall fail to deliver any other report required to be
     delivered by it hereunder or under the Receivables Loan Agreement within
     two Business Days after a Responsible Officer of the Collection Agent has
     knowledge or obtains notice thereof, or (iv) during any calendar month, the
     Collection Agent shall fail to deliver more than two Weekly Reports on the
     date when due or more than two Daily Reports on the date when due; or

         (b) any representation, warranty, certification or statement made by
     any Collection Agent Party or, to the extent that any Originator or any
     Affiliate of an Originator is then a Collection Agent Party, by such
     Originator or such Affiliate, as applicable, in this Agreement, any other
     Transaction Document or in any report or other document delivered pursuant
     hereto or thereto shall prove to have been incorrect in any material
     respect when made or deemed made; or

         (c) any Event of Bankruptcy shall occur and be continuing with respect
     to any Collection Agent Party; or

         (d) there shall have occurred since the Closing Date any event or
     condition which has had or could reasonably be expected to have a material
     adverse effect on the ability of any Collection Agent Party to perform its
     obligations under the Transaction Documents; or

         (e) there shall have occurred any other Termination Event of the type
     described in Section 7.01(d) or 7.01(e) of the Receivables Loan Agreement;
     or

         (f) the Performance Guaranty or this Agreement shall cease, for any
     reason, to be in full force and effect, or any Transaction Party shall so
     assert in writing or the Performance Guarantor or any Collection Agent
     Party shall otherwise seek to terminate or disaffirm its obligations under
     the Performance Guaranty or this Agreement;

then, and in any such event, the Administrative Agent may, in its discretion,
and shall, at the direction of the Required Committed Lenders, designate another
Person to succeed TRW U.S. as the Collection Agent.

     2.10 Servicing Fee. The Collection Agent shall be paid a Servicing Fee out
of Collections available for such purpose pursuant to the Receivables Loan
Agreement and subject

                                       11

to the priorities therein. Each Sub-Collection Agent shall be paid such fees as
the Collection Agent and such Sub-Collection Agent shall agree from time to
time; provided that such fees shall be the sole responsibility of the Collection
Agent and none of the Borrower, the European Purchaser or any of the Secured
Parties shall have any liability therefor.

     2.11 Power of Attorney. The Collection Agent authorizes the Administrative
Agent, and hereby irrevocably appoints the Administrative Agent as its
attorney-in-fact coupled with an interest, with full power of substitution and
with full authority in place of the Collection Agent, following the occurrence
and during the continuation of a Termination Event or Involuntary Bankruptcy
Event, to take any and all steps in the Collection Agent's name and on behalf of
the Collection Agent that are necessary or desirable, in the determination of
the Administrative Agent, to collect amounts due under the Collateral,
including, without limitation, (i) endorsing the Borrower's, the Collection
Agent's, the European Purchaser's, the Transferor's or any Originator's name on
checks and other instruments representing Collections of Collateral, (ii)
enforcing the Receivables and the Related Security and the Collateral Agreements
including to ask, demand, collect, sue for, recover, compromise, receive and
give acquittance and receipts for moneys due and to become due under or in
connection with therewith and to file any claims or take any action or institute
any proceedings that the Administrative Agent (or such designee) may deem to be
necessary or desirable for the collection thereof or to enforce compliance with
the terms and conditions of, or to perform any obligations or enforce any rights
of the Borrower in respect of, the Receivables and the Related Security and the
Collateral Agreements; provided that no enforcement action of the type described
in this clause (ii) may be taken by the Administrative Agent if no Involuntary
Bankruptcy Event then exists and the only Termination Event(s) that shall have
occurred are those set forth in Section 7.01(h), (k), (l) or (m) of the
Receivables Loan Agreement.

     2.12 Receivables Loan Agreement and European Loan Agreement Provisions.
Each party to this Agreement hereby acknowledges and agrees that (i) Collections
shall be applied as provided in Sections 2.06 and 2.07 of each of the
Receivables Loan Agreement and the European Loan Agreement, (ii) any right or
claim of such party to receive any payment from such Collections is subject to
the terms, conditions and priorities of such Sections and (iii) any right or
claim of such party to receive payment from the European Purchaser is subject to
the limitations on recourse set forth in Section 8.05 of the European Loan
Agreement.

     2.13 Remittance of Other Receivables Payments. Each of the Borrower, the
European Purchaser, the Collection Agent and the Administrative Agent hereby
agree that in the event any payment is made into a Collection Account,
Concentration Account or Collateral Account with respect to a Receivable that is
not a Pool Receivable, such Person shall promptly after becoming aware thereof
pay over such payment to the Originator that owns the relevant Receivable.

                                  ARTICLE III
                         REPRESENTATIONS AND WARRANTIES

     3.1 Representations and Warranties of the Collection Agent Parties. Each
Collection Agent Party hereby represents and warrants as follows as of the date
hereof, as of the date of each Borrowing and each Release under the Receivables
Loan Agreement and as of each

                                       12

Reporting Date (except that the representations set forth in paragraphs (e) and
(f) below shall be required to be made only as of the date of each Borrowing and
as of each Reporting Date):

         (a) Such Collection Agent Party is a corporation, partnership or
limited liability company duly incorporated, validly existing and in good
standing under the laws of its jurisdiction of organization specified in the
preamble to this Agreement, and is duly qualified to do business, and is in good
standing, in every jurisdiction where the nature of its business requires it to
be so qualified, unless the failure to so qualify would not reasonably be
expected to have a Material Adverse Effect.

         (b) The execution, delivery and performance by such Collection Agent
Party of this Agreement and any other Transaction Document to which it is a
party (i) are within the such Collection Agent Party's corporate powers, (ii)
have been duly authorized by all necessary corporate action, (iii) will not (A)
violate (1) such Collection Agent Party's certificate of incorporation or
by-laws or other organizational documents, as applicable, (2) any Law applicable
to such Collection Agent Party, or (3) any provision of any indenture,
certificate of designation for preferred stock, agreement or other instrument to
which such Collection Agent Party is a party or by which it or any of its
property is or may be bound or (B) be in conflict with, result in a breach of or
constitute (alone or with notice or lapse of time or both) a default under, give
rise to a right of or result in any cancellation of a material right or
acceleration of any material payment obligation under any such indenture,
certificate of designation for preferred stock, agreement or other instrument,
where any such conflict, violation, breach or default referred to in clause (A)
or (B) of this Section 3.1(b), could reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect, and (iv) do not
result in or require the creation of any Adverse Claim upon or with respect to
any of its properties. This Agreement has been duly executed and delivered by
such Collection Agent Party.

         (c) No authorization or approval or other action by, and no notice to
or filing with, any governmental authority or regulatory body is required for
the due execution, delivery and performance by such Collection Agent Party of
this Agreement or any other Transaction Document to which it is a party except
for such as have already been obtained or made and are in full force and effect.

         (d) This Agreement constitutes the legal, valid and binding obligation
of such Collection Agent Party, enforceable against such Collection Agent Party
in accordance with its terms, subject to (i) the effects of bankruptcy,
insolvency, moratorium, reorganization or other similar laws affecting
creditors' rights generally, (ii) general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law)
and (iii) implied covenants of good faith and fair dealing.

         (e) Since December 31, 2001, there has been no Material Adverse Effect.

         (f) Except as set forth on Schedule II, (i) as of the initial Borrowing
Date, there are no actions, suits or proceedings at law or in equity or by or
before any Official Body or in arbitration now pending or, to the actual
knowledge of a Responsible Officer of such Collection Agent Party, threatened in
writing against or affecting such Collection Agent Party or any of its business,
property or rights and (ii) as of each other Borrowing Date and Reporting

                                       13

Date, there are no actions, suits or proceedings at law or in equity or by or
before any Official Body or in arbitration, or, to the actual knowledge of a
Responsible Officer of such Collection Agent Party, threatened in writing
against or affecting such Collection Agent Party or any of its business,
property or rights as to which in either case, an adverse determination is
reasonably probable and which could reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect.

         (g) All Obligors have been instructed to remit all their payments in
respect of Pool Receivables directly to a Collection Account.

         (h) Each Portfolio Report (if prepared by such Collection Agent Party
or any of its Affiliates, or to the extent that information contained therein is
supplied by such Collection Agent Party or an Affiliate), information, exhibit,
financial statement, document, book, record or report furnished in writing at
any time by or on behalf of any Collection Agent Party in connection with the
Transaction Documents is accurate in all material respects as of its date or
(except as otherwise disclosed to the Administrative Agent and each Funding
Agent at such time) as of the date so furnished.

         (i) On the date of each Borrowing and Release under the Receivables
Loan Agreement (and after giving effect thereto) the Percentage Factor does not
exceed the Maximum Percentage Factor, as determined by the most recent Portfolio
Report delivered hereunder.

         (j) No event has occurred and is continuing and no condition exists
which constitutes a Termination Event.

         (k) Each Receivable treated as or represented by such Collection Agent
Party to be an Eligible Receivable on any date (whether by inclusion in the Net
Receivables Balance or otherwise) was an Eligible Receivable on such date.

                                   ARTICLE IV
                                    COVENANTS

     4.1 Covenants of the Collection Agent Parties. Until the Final Payout Date:

         (a) Compliance with Laws, Etc. Each Collection Agent Party will comply
in all respects with all applicable Laws and preserve and maintain its corporate
existence, rights, franchises, qualifications, and privileges except to the
extent that the failure so to comply with such Laws or the failure so to
preserve and maintain such rights, franchises, qualifications, and privileges
would not reasonably be expected to have a Material Adverse Effect.

         (b) Records and Books of Account. Each Collection Agent Party will
maintain and implement administrative and operating procedures (including,
without limitation, an ability to recreate records evidencing Pool Receivables
and related Contracts in the event of the destruction of the originals thereof),
and keep and maintain all documents, books, records and other information
reasonably necessary or advisable for the collection of all Pool Receivables or,
in the case of a Sub-Collection Agent, all Pool Receivables for which it acts as
Sub-Collection Agent (including, without limitation, records adequate to permit
the daily

                                       14

identification of each such Receivable and all Collections of and adjustments to
each such existing Receivable).

         (c) Compliance with Credit and Collection Policy. Each Collection Agent
Party will timely and fully comply in all material respects with the Credit and
Collection Policy in regard to Purchased Receivables that are treated as or
represented by such Collection Agent Party to be Eligible Receivables.

         (d) Extension or Amendment of Receivables and Contracts. Except as
provided in Section 2.2(c), no Collection Agent Party will extend, amend or
otherwise modify the terms of any Pool Receivable or amend, modify or waive any
term or condition of any Contract related thereto in a manner that could
reasonably be expected to adversely affect the collectability of such Pool
Receivable.

         (e) Change in Credit and Collection Policy. No Collection Agent Party
will make any change in the Credit and Collection Policy, except (i) for any
such change that would not impair the collectibility of any Pool Receivables in
any material respect or otherwise be reasonably likely to have a Material
Adverse Effect or (ii) as required by applicable Law. In the event that any
Collection Agent Party makes any material change to the Credit and Collection
Policy, it shall, promptly following such change, provide the Administrative
Agent and each Funding Agent with an updated Credit and Collection Policy and a
summary of all material changes.

         (f) Change in Payment Instructions to Obligors. No Collection Agent
Party will add or terminate any Collection Account or any Concentration Account
from those listed in Schedule V to the Receivables Loan Agreement, or make any
change in its instructions to Obligors regarding payments to be made in respect
of the Receivables or payments to be made to any Collection Account or any
Concentration Account, unless the Administrative Agent shall have received
notice of such addition, termination or change (including an updated Schedule V)
and a fully executed Control Agreement with respect to each new Collection
Account and each new Concentration Account. Each European Concentration Account
shall be maintained at all times in the name of the European Purchaser. Each
North American Collection Account and North American Concentration Account shall
be maintained at all times in the name of the Transferor.

         (g) Deposits to Collection Accounts. Each Collection Agent Party will
instruct all Obligors to remit all their payments in respect of Receivables to a
Collection Account (either directly by wire transfer or electronic funds
transfer or by check mailed to a lock-box maintained by the relevant Collection
Account Bank). If any Collection Agent Party shall receive any Collections
directly, such Collection Agent Party shall promptly (and in any event within
one Business Day) cause such Collections to be deposited into a Collection
Account or a Concentration Account. Each Collection Agent Party will use its
reasonable best efforts to prevent funds which do not constitute Collections of
Receivables from being deposited into any Collection Account or Concentration
Account. Each Collection Agent Party shall instruct each Collection Account Bank
to remit funds on deposit in each Collection Account to the applicable
Concentration Account on a daily basis.

                                       15

         (h) Control Agreements. The Collection Agent shall cause all Collection
Accounts and all Concentration Accounts to be subject at all times to a Control
Agreement duly executed by the Collection Agent, the Transferor or the European
Purchaser (as applicable), the Administrative Agent and the applicable bank.

         (i) Inspections. Each Collection Agent Party will, from time to time
during regular business hours as requested by the Administrative Agent or any
Funding Agent upon reasonable prior notice, permit the Administrative Agent, any
Funding Agent, or their respective agents or representatives (including
independent public accountants, which may be the Borrower's or the Collection
Agent's independent public accountants), (i) to conduct periodic audits of the
Receivables, the Related Security, the other Collateral and the related books
and records and collections systems of each Collection Agent Party, (ii) to
examine and make copies of and abstracts from all books, records and documents
(including, without limitation, computer tapes and disks) in the possession or
under the control of any Collection Agent Party relating to Receivables, the
Related Security and the other Collateral, including, without limitation, the
Contracts, and (iii) to visit the offices and properties of any Collection Agent
Party for the purpose of examining such materials described in clause (ii)
above, and to discuss matters relating to Receivables, the Related Security and
the other Collateral or any Collection Agent Party's performance under the
Transaction Documents or under the Contracts with any of the officers or
employees of such Collection Agent Party having knowledge of such matters.

                                    ARTICLE V
                                  MISCELLANEOUS

     5.1 Amendment. No failure on the part of the Administrative Agent to
exercise, and no delay in exercising, any right hereunder shall operate as a
waiver thereof; nor shall any single or partial exercise of any right hereunder
preclude any other or further exercise thereof or the exercise of any other
right. No amendment or waiver of any provision of this Agreement or consent to
any departure by any Collection Agent Party therefrom shall be effective unless
in a writing signed by the Administrative Agent and the Required Committed
Lenders (and, in the case of any amendment, also signed by the Collection
Agent), and then such amendment, waiver or consent shall be effective only in
the specific instance and for the specific purpose for which given; provided,
however, that no consent of the Borrower, TRW U.S. or any Seller shall be
required for any amendment which modifies the representations, warranties,
covenants or responsibilities of the Collection Agent at any time when the
Collection Agent is not TRW U.S. or any Affiliate of TRW U.S. or upon the
replacement of the Collection Agent with a Person who is not TRW U.S. or any
Affiliate of TRW U.S.

     5.2 Notices. All communications and notices provided for hereunder shall be
in writing (including telecopy or electronic facsimile transmission or similar
writing) and shall be given to the other party (i) in the case of the Borrower,
the Collection Agent and the Administrative Agent, at its address or telecopy
number specified for notices pursuant to the Receivables Loan Agreement, (ii) in
the case of the European Purchaser, at its address or telecopy number specified
for notices pursuant to the European Loan Agreement and (iii) in the case of any
Seller, at its address or telecopy number specified for notices pursuant to the
Originator Purchase Agreement to which it is a party or, in any such case, at
such other address or telecopy number as such party may hereafter specify for
the purposes of notice to such party.

                                       16

Each such notice or other communication shall be effective (i) if given by
telecopy, when such telecopy is transmitted to the telecopy number specified in
this Section 5.2 and confirmation is received, (ii) if given by mail three
Business Days following such posting, postage prepaid, U.S. certified or
registered, (iii) if given by overnight courier, one Business Day after deposit
thereof with a national overnight courier service, or (iv) if given by any other
means, when received at the address specified in this Section 5.2.

     5.3 Assignments. No Collection Agent Party may assign any of its rights or
obligations hereunder or any interest herein without the prior written consent
of the Administrative Agent and the Required Committed Lenders. The Borrower and
the European Purchaser may assign their rights hereunder only to the
Administrative Agent pursuant to the Receivables Loan Agreement and the European
Purchaser Security Agreement, as applicable. The Administrative Agent may assign
any of its rights or obligations hereunder or any interest herein to any
successor Administrative Agent appointed pursuant to the terms of the
Receivables Loan Agreement.

     5.4 No Proceedings. Each Collection Agent Party hereby agrees that it will
not institute against the Borrower or the European Purchaser any proceeding of
the type referred to in the definition of "Event of Bankruptcy" until there
shall have elapsed one year plus one day since the Final Payout Date. Each
Collection Agent Party further agrees that it will not institute against any
Conduit Lender any proceeding of the type referred to in the definition of
"Event of Bankruptcy" so long as any Commercial Paper or other senior
indebtedness issued by such Conduit Lender shall be outstanding or there shall
not have elapsed one year plus one day since the last day on which any such
Commercial Paper or other senior indebtedness shall have been outstanding.

     5.5 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     5.6 Execution in Counterparts. This Agreement may be executed in any number
of counterparts, each of which when so executed shall be deemed to be an
original and all of which when taken together shall constitute one and the same
agreement. Delivery of an executed counterpart of a signature page to this
Agreement by facsimile shall be effective as delivery of a manually executed
counterpart of this Agreement.

     5.7 Binding Effect; Survival of Termination. This Agreement shall be
binding upon and inure to the benefit of the parties hereto and their respective
successors and permitted assigns (including any trustee in bankruptcy). Any
provisions of this Agreement which are 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. This Agreement shall create and constitute the continuing
obligations of the parties hereto in accordance with its terms and shall remain
in full force and effect until the Final Payout Date; provided, however, that
the provisions of Sections 2.6 and 5.4 shall survive any termination of this
Agreement.

                                       17

     5.8 Consent to Jurisdiction.

         (a) Each party hereto hereby irrevocably submits to the non-exclusive
jurisdiction of any New York State or Federal court sitting in New York City in
any action or proceeding arising out of or relating to this Agreement, and each
party hereto hereby irrevocably agrees that all claims in respect of such action
or proceeding may be heard and determined in such New York State court or, to
the extent permitted by law, in such Federal court. The parties hereto hereby
irrevocably waive, to the fullest extent they may effectively do so, the defense
of an inconvenient forum to the maintenance of such action or proceeding. The
parties hereto agree that a final judgment in any such action or proceeding
shall be conclusive and may be enforced in other jurisdictions by suit on the
judgment or in any other manner provided by law.

         (b) Each party hereto consents to the service of any and all process in
any such action or proceeding by the mailing of copies of such process to it at
its address for notices specified or referred to in Section 5.2. Nothing in this
Section 5.8 shall affect the right of the Administrative Agent to serve legal
process in any other manner permitted by law.

     5.9 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE MAXIMUM
EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY JUDICIAL PROCEEDING
INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT,
CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH
THIS AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT.

     5.10 Third-Party Beneficiaries. This Agreement will inure to the benefit of
and be binding upon the parties hereto and their respective successors and
permitted assigns. The Secured Parties are express third party beneficiaries of
this Agreement.

     5.11 Additional Sellers. In the event any Person becomes a "Seller" under
(and in accordance with the terms and conditions set forth in) an Originator
Purchase Agreement after the date hereof, such Person shall automatically become
a party to this Agreement as a Sub-Collection Agent upon the execution and
delivery of an "Additional Seller Supplement" pursuant to such Originator
Purchase Agreement.

                                SIGNATURES FOLLOW

                                       18

     IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement as of the date first written above.

                                 TRW AUTOMOTIVE U.S. LLC

                                 By     /s/ David L. Bialosky
                                        ---------------------
                                 Name:  David L. Bialosky
                                 Title: Vice President and General Counsel

                                 KELSEY-HAYES COMPANY

                                 By     /s/ David L. Bialosky
                                        ---------------------
                                 Name:  David L. Bialosky
                                 Title: Secretary and Vice President

                                 TRW AUTOMOTIVE U.S. LLC

                                 By     /s/ David L. Bialosky
                                        ---------------------
                                 Name:  David L. Bialosky
                                 Title: Vice President and General Counsel

                                 TRW VEHICLE SAFETY SYSTEMS INC.

                                 By     /s/ David L. Bialosky
                                        ---------------------
                                 Name:  David L. Bialosky
                                 Title: Secretary and Vice President

                                 LAKE CENTER INDUSTRIES
                                 TRANSPORTATION, INC.

                                 By     /s/ David L. Bialosky
                                        ---------------------
                                 Name:  David L. Bialosky
                                 Title: Secretary and Vice President

                                 TRW AUTOMOTIVE GLOBAL RECEIVABLES LLC

                                 By     /s/ David L. Bialosky
                                        ---------------------
                                 Name:  David L. Bialosky
                                 Title: Secretary and Vice President

                                 JPMORGAN CHASE BANK, as
                                 Administrative Agent

                                 By     /s/ Christopher Lew
                                        -------------------
                                 Name:  Christopher Lew
                                 Title: Assistant Vice President

                                       20EXHIBIT 10.9
                                                                  EXECUTION COPY

                              PERFORMANCE GUARANTY

     This Performance Guaranty (this "Guaranty"), dated as of February 28, 2003,
is executed by TRW Automotive Acquisition Corp., a Delaware corporation ("TRW
Acquisition") and by each of the Persons identified on Schedule IV (such
Persons, together with TRW Acquisition, collectively, the "Performance
Guarantors" and each a "Performance Guarantor") in favor of TRW Automotive
Receivables LLC, a Delaware limited liability company (the "Transferor"), TRW
Automotive Global Receivables LLC, a Delaware limited liability company (the
"Borrower"), and JPMorgan Chase Bank, as administrative agent on behalf of the
Secured Parties under the Receivables Loan Agreement referred to below (in such
capacity, the "Administrative Agent"; the Transferor, the Borrower, the
Administrative Agent (on behalf of itself and the other Secured Parties) and
their respective successors and assigns being referred to herein, collectively,
as the "Recipients"). TRW Automotive Europe Receivables Limited, a limited
liability company incorporated under the laws of Ireland (the "European
Purchaser") may be added as a party hereto as a Recipient hereunder upon the
agreement of the other parties hereto and in accordance with the terms of the
Receivables Loan Agreement.

                                    RECITALS

     1. The European Purchaser may enter into the European Originator Purchase
Agreements with the European Originators, pursuant to which the European
Originators, subject to the terms and conditions contained therein, may from
time to time sell all of their respective right, title and interest in their
respective Receivables to the European Purchaser.

     2. In order to finance its purchases of Receivables from the European
Originators pursuant to the European Originator Purchase Agreements, the
European Purchaser may enter into the European Loan Agreement pursuant to which
the Transferor, subject to the terms and conditions contained therein, may from
time to time make loans to the European Purchaser.

     3. The Transferor has entered into the North American Originator Purchase
Agreement with the North American Originators, pursuant to which the North
American Originators, subject to the terms and conditions contained therein,
have sold and will continue to sell all of their respective right, title and
interest in their respective Receivables to the Transferor.

     4. In order to (a) obtain the funds with which to make loans to the
European Purchaser pursuant to the European Loan Agreement and (b) finance its
purchases of Receivables from the North American Originators pursuant to the
North American Originator Purchase Agreement, the Transferor has entered into
the Transfer Agreement pursuant to which the Transferor, subject to the terms
and conditions contained therein, has sold and will continue to sell all of its
right, title and interest in (x) the Receivables acquired by the Transferor
pursuant to the North American Originator Purchase Agreement and (y) the loans
funded by the Transferor pursuant to the European Loan Agreement, to the
Borrower.

     5. In order to fund its purchases under the Transfer Agreement, the
Borrower has entered into the Receivables Loan Agreement of even date herewith
(as amended, restated, supplemented or otherwise modified from time to time, the
"Receivables Loan Agreement") among the Borrower, the parties thereto as
"Conduit Lenders," "Committed Lenders" and "Funding Agents" and the
Administrative Agent, pursuant to which the Conduit Lenders may, in their sole
discretion, make Loans requested by the Borrower from time to time, and if a
Conduit Lender in any Lender Group elects not to make any such Loan, the
Committed Lenders in such Lender Group will make such Loan, in each case subject
to the terms and conditions contained therein.

     6. Each of the Originators, the Transferor, the European Purchaser and the
Borrower is a Subsidiary of TRW Acquisition and TRW Acquisition is expected to
receive substantial direct and indirect benefits from (a) the sales of
Receivables by the North American Originators to the Transferor pursuant to the
North American Originator Purchase Agreement, (b) the sales of Receivables by
the European Originators to the European Purchaser pursuant to the European
Originator Purchase Agreement and (c) the servicing of the Receivables by the
Collection Agent Parties pursuant to the Servicing Agreement (which benefits are
hereby acknowledged).

     7. As an inducement for (a) the Transferor to continue to purchase
Receivables from the North American Originators pursuant to the North American
Originator Purchase Agreement, (b) the European Purchaser to purchase
Receivables from the European Originators pursuant to the European Originator
Purchase Agreement, (c) the Transferor to make loans to the European Purchaser
pursuant to the European Loan Agreement, (d) the Borrower to continue to
purchase Receivables and loans pursuant to the Transfer Agreement, and (e) for
the Administrative Agent, the Funding Agents, the Lenders and the other Secured
Parties to continue to participate in the transactions contemplated by the
Receivables Loan Agreement, the Performance Guarantors have agreed to jointly
and severally guaranty the due and punctual performance by each Originator and
Collection Agent Party of their respective Obligations (as hereinafter defined)
under the Transaction Documents.

                                    AGREEMENT

     NOW, THEREFORE, each Performance Guarantor hereby agrees as follows:

         Section 1. Definitions. Capitalized terms used herein and not defined
herein shall have the respective meanings assigned thereto in the Receivables
Loan Agreement. In addition:

         "Obligations" means, collectively, all covenants, agreements, terms,
conditions and indemnities to be performed and observed by each Originator
(whether in its capacity as a "Seller" under an Originator Purchase Agreement, a
Collection Agent Party or otherwise) under and pursuant to the Originator
Purchase Agreements, the Servicing Agreement and each other Transaction Document
to which such Originator is a party, including, without limitation, the due and
punctual payment when due of all sums which are or may become due and owing by
such Originator under such Transaction Documents, whether for fees, expenses
(including counsel fees), indemnified amounts or otherwise, whether upon any
termination or for any other reason

                                       2

and including, without limitation, interest, fees and other obligations that
accrue after the commencement of any bankruptcy, insolvency or similar
proceeding (in each case whether or not allowed as a claim in such proceeding).
For the avoidance of doubt, references in this Guaranty to an "Originator" shall
be deemed to refer to such party in its capacity as an Originator, a Seller, a
Collection Agent Party and in any other capacity it may have under the
Transaction Documents.

         Section 2. Guaranty of Performance of Obligations. Each Performance
Guarantor hereby guarantees to each Recipient and each other Secured Party
(collectively, the "Beneficiaries"), the full and punctual payment and
performance when due by each Originator of its respective Obligations. This
Guaranty is an absolute, unconditional and continuing guaranty of the full and
punctual payment and performance of all of the respective Obligations of each
Originator under the Transaction Documents and each other document executed and
delivered by such Originator pursuant to the Transaction Documents and is in no
way conditioned upon any requirement that any Beneficiary first attempt to
collect from such Originator, any other Performance Guarantor or any other
Person, any amounts owing by such Originator to such Beneficiary or resort to
any collateral security, any balance of any deposit account or credit on the
books of such Beneficiary in favor of such Originator or any other Person or
other means of obtaining payment. Should any Originator default in the payment
or performance of any of its respective Obligations, each Beneficiary (or its
assigns) may require the immediate performance thereof by any Performance
Guarantor and require any payment of any Obligations that are then due and
payable to such Beneficiary (or its assigns) to be paid by any Performance
Guarantor, without other demand or notice of any nature (other than as expressly
provided herein), all of which are hereby expressly waived by each Performance
Guarantor.

         Section 3. Performance Guarantors' Further Agreements to Pay. Each
Performance Guarantor further agrees, as the principal obligor and not as a
guarantor only, to pay to each Beneficiary (and its assigns), forthwith upon
demand in funds immediately available to such Beneficiary, all reasonable costs
and expenses (including court costs and legal expenses) incurred or expended by
such Beneficiary in connection with the enforcement of this Guaranty, together
with interest on amounts recoverable under this Guaranty from the time when such
amounts become due until payment, at a rate of interest (computed for the actual
number of days elapsed based on a year of 365 or 366 days, as the case may be)
equal to the Base Rate plus 2% per annum, such rate of interest changing when
and as the Base Rate changes; provided, that in no event shall such rate exceed
the maximum rate permitted by applicable law.

         Section 4. Waivers by each Performance Guarantor. Each Performance
Guarantor waives, to the maximum extent permitted by applicable law, (a) notice
of acceptance of this Guaranty, (b) presentment, demand, protest, notice of any
action taken or omitted by any Beneficiary (or its assigns) in reliance on this
Guaranty, and (c) any requirement that any Beneficiary (or its assigns) be
diligent or prompt in making demands under this Guaranty, giving notice of any
Termination Event, other default or omission by any Originator or asserting any
other rights of such Beneficiary under this Guaranty. Each Performance Guarantor
also waives, to the maximum extent permitted by applicable law, any right
(whether now existing or hereafter arising) to require a Beneficiary, as a
condition to the enforcement of this Guaranty, (x) to accelerate the
Obligations, (y) to give notice to such Performance Guarantor of the terms, time
and place of any sale of any security for the Obligations and (z) to proceed
against any

                                       3

Originator or any other guarantor or to proceed against or exhaust any security
for the Obligations. Each Performance Guarantor warrants that it has adequate
means to obtain from each Originator, on a continuing basis, information
concerning the financial condition of such Originator, and that it is not
relying on any Beneficiary to provide such information, now or in the future.
Each Performance Guarantor also irrevocably waives, to the maximum extent
permitted by applicable law, all defenses (i) that at any time may be available
in respect of the Obligations by virtue of any statute of limitations,
valuation, stay, moratorium law or other similar law now or hereafter in effect
or (ii) that arise under the law of suretyship, including impairment of
collateral. Each Beneficiary (and its assigns) shall be at liberty, without
giving notice to or obtaining the assent of any Performance Guarantor and
without relieving any Performance Guarantor of any liability under this
Guaranty, to deal with each Originator and with each other party who now is or
after the date hereof becomes liable in any manner for any of the Obligations,
in such manner as such Beneficiary in its sole discretion deems fit, and to this
end each Performance Guarantor agrees that, to the maximum extent permitted by
applicable law, the validity and enforceability of this Guaranty, including
without limitation, the provisions of Section 8 hereof, shall not be impaired or
affected by any of the following: (a) any extension, modification or renewal of,
or indulgence with respect to, or substitutions for, the Obligations or any part
thereof or any agreement relating thereto at any time; (b) any failure or
omission to enforce any right, power or remedy with respect to the Obligations
or any part thereof or any agreement relating thereto, or any collateral
securing the Obligations or any part thereof; (c) any waiver of any right, power
or remedy in connection with any Termination Event or default with respect to
the Obligations or any part thereof or any agreement relating thereto; (d) any
release, surrender, compromise, settlement, waiver, subordination or
modification, with or without consideration, of any other obligation of any
person or entity with respect to the Obligations or any part thereof; (e) the
enforceability or validity of the Obligations or any part thereof, or any
security therefor, or the genuineness, enforceability or validity of any
agreement relating thereto or with respect to the Obligations or any part
thereof; (f) the application of payments received from any source to the payment
of any payment Obligations of any Originator or any part thereof or amounts
which are not covered by this Guaranty even though any Beneficiary (or its
assigns) might lawfully have elected to apply such payments to any part or all
of the payment Obligations of any Originator or to amounts which are not covered
by this Guaranty; (g) the existence of any claim, setoff or other rights which
any Performance Guarantor may have at any time against any Originator in
connection herewith or any unrelated transaction; (h) any assignment or transfer
of the Obligations or any part thereof; (i) any failure on the part of any
Originator to perform or comply with any term of the Transaction Documents or
any other document executed in connection therewith or delivered thereunder; (j)
any disability or other defense of any Person with respect to the Obligations,
whether consensual or arising by operation of law; or (k) any other circumstance
whatsoever (with or without notice to or knowledge of any Performance Guarantor)
which constitutes, or might be construed to constitute, an equitable or legal
discharge of such Performance Guarantor under this Guaranty, all whether or not
such Performance Guarantor shall have had notice or knowledge of any act or
omission referred to in the foregoing clauses (a) through (j) of this Section 4.

         Section 5. Unenforceability of Obligations Against An Originator.
Notwithstanding (a) any change of ownership of any Originator or the insolvency,
bankruptcy or any other change in the legal status of any Originator; (b) the
change in or the imposition of any law, decree, regulation or other governmental
act which does or might impair, delay or in any

                                       4

way affect the validity, enforceability or the payment when due of the
Obligations; (c) the failure of any Originator or any Performance Guarantor to
maintain in full force, validity or effect or to obtain or renew when required
all governmental and other approvals, licenses or consents required in
connection with the Obligations or this Guaranty, or to take any other action
required in connection with the performance of all obligations pursuant to the
Obligations or this Guaranty; or (d) if any of the moneys included in the
Obligations have become unrecoverable from any Originator for any other reason
other than indefeasible payment in full of the payment Obligations in accordance
with their terms, this Guaranty shall nevertheless be binding on each
Performance Guarantor. This Guaranty shall be in addition to any other guaranty
or other security for the Obligations, and it shall not be rendered
unenforceable by the invalidity of any such other guaranty or security. In the
event that acceleration of the time for payment of any of the Obligations is
stayed upon the insolvency, bankruptcy or reorganization of any Originator or
for any other reason with respect to any Originator, all such amounts then due
and owing with respect to the Obligations under the terms of the Agreements, or
any other agreement evidencing, securing or otherwise executed in connection
with the Obligations, shall be immediately due and payable by the Performance
Guarantors.

         Section 6. Representations and Warranties. Each Performance Guarantor
(with respect to paragraphs (a), (b), (c), (d), (m) and (o) below) and TRW
Acquisition (with respect to each other paragraph in this Section 6) hereby
represents and warrants to each Beneficiary as of the date hereof and as of the
date of each purchase under an Originator Purchase Agreement, each loan under
the European Loan Agreement, each purchase under the Transfer Agreement and each
Loan and Release under the Receivables Loan Agreement (except that the
representations set forth in paragraphs (g), (h) and (k) below shall be required
to be made only as of the date of each Loan and each Reporting Date) that:

         (a) Such Performance Guarantor is duly organized, validly existing and,
if organized under the laws of one of the states of the United States of
America, in good standing under the laws of its jurisdiction of organization,
and, is duly qualified to do business, and is in good standing as a foreign
corporation or company, in every jurisdiction where the nature of its business
requires it to be so qualified, unless the failure to so qualify would not
reasonably be expected to have a Material Adverse Effect.

         (b) The execution, delivery and performance by such Performance
Guarantor of this Guaranty (i) have been duly authorized by all necessary
corporate action and (ii) will not (A) violate (1) such Performance Guarantor's
organizational documents, (2) any Law applicable to such Performance Guarantor
or (3) any provision of any indenture, certificate of designation for preferred
stock, agreement or other instrument to which such Performance Guarantor is a
party or by which it or any of its property is or may be bound or (B) be in
conflict with, result in a breach of or constitute (alone or with notice or
lapse of time or both) a default under, give rise to a right of or result in any
cancellation of a material right or acceleration of any material payment
obligations under any such indenture, certificate of designation for preferred
stock, agreement or other instrument, where any such conflict, violation, breach
or default referred to in clause (ii) of this Section 6(b), could reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect
and (iii) do not result in or require the creation of any Adverse Claim upon or
with respect to any of its properties. This Guaranty has been duly executed and
delivered by such Performance Guarantor.

                                       5

         (c) No authorization or approval or other action by, and no notice to
or filing with, any Official Body is required for the due execution, delivery
and performance by such Performance Guarantor of this Guaranty or any other
document to be delivered by it hereunder, except for such as have been obtained
or made and are in full force and effect.

         (d) This Guaranty constitutes the legal, valid and binding obligation
of such Performance Guarantor enforceable against such Performance Guarantor in
accordance with its terms, subject to (i) the effects of bankruptcy, insolvency,
moratorium, reorganization or other similar laws affecting creditors' rights
generally, (ii) general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law) and (iii)
implied covenants of good faith and fair dealing.

         (e) TRW Acquisition has heretofore furnished to each Beneficiary
combined balance sheets and combined statements of income, cash flows and
owners' equity of TRW Automotive Inc. and its subsidiaries (i) as of and for the
fiscal years ended December 31, 1999 (in the case of the combined statements of
income, cash flows and owners' equity), December 31, 2000 and December 31, 2001,
audited by and accompanied by the opinion of Ernst & Young LLP, independent
public accountants as set forth in the Offering Memorandum (as defined in the
Senior Credit Agreement) and (ii) as of and for the nine-month period ended
September 30, 2002, reviewed by Ernst & Young LLP pursuant to Statement of
Auditing Standards No. 71, as set forth in the Offering Memorandum. Such
combined financial statements present fairly, in all material respects, the
financial position and results of operations of TRW Automotive Inc. and its
subsidiaries as of such dates and for such periods. Neither TRW Acquisition nor
any of its Subsidiaries has or shall have as of the Closing Date any Guarantee,
contingent liability or liability for Taxes, or any long-term lease or unusual
forward or long-term commitment, including any interest rate or foreign currency
hedging transaction, that individually is material and is not reflected in the
foregoing statements or the notes thereto, other than pursuant to the
Transaction Documents and the Loan Documents (as defined in the Senior Credit
Agreement or otherwise in connection with the Transactions (as defined in the
Senior Credit Agreement) or in respect of obligations under purchase and sale
agreements entered into in the ordinary course of business. Such financial
statements were prepared in accordance with GAAP (subject to year-end audit
adjustments and the absence of footnotes in the cases of clauses (ii) and (iii)
above).

         (f) TRW Acquisition has heretofore furnished to the Beneficiaries its
pro forma consolidated balance sheet as of September 30, 2002, prepared giving
effect to the Transactions (as defined in the Senior Credit Agreement) as if the
Transactions (as defined in the Senior Credit Agreement) had occurred on such
date. Such pro forma consolidated balance sheet (i) has been prepared in good
faith based on the same assumptions used to prepare the pro forma financial
statements included in the Offering Memorandum (which assumptions are believed
by TRW Acquisition to have been reasonable at the time made and to be reasonable
as of the Closing Date), (ii) subject to the assumptions described in such
Offering Memorandum, accurately reflects all adjustments necessary to give
effect to the Transactions and (iii) subject to the assumptions and
qualifications described in the Offering Memorandum, presents fairly, in all
material respects, the pro forma financial position of TRW Acquisition and its
Subsidiaries as of September 30, 2002, as if the Transactions had occurred on
such date.

                                       6

         (g) Since December 31, 2001, there has been no Material Adverse Effect.

         (h) Except as set forth on Schedule I, (i) as of the initial Borrowing
Date, there are no actions, suits or proceedings at law or in equity or by or
before any Official Body or in arbitration now pending or, to the actual
knowledge of a Responsible Officer of TRW Acquisition, threatened in writing
against or affecting TRW Acquisition or any of its Subsidiaries or any of their
respective business, property or rights and (ii) as of each other Borrowing Date
and Reporting Date, there are no actions, suits or proceedings at law or in
equity or by or before any Official Body or in arbitration, or, to the actual
knowledge of a Responsible Officer of TRW Acquisition, threatened in writing
against or affecting TRW Acquisition or any of its Subsidiaries or any of their
respective business, property or rights as to which in either case an adverse
determination is reasonably probable and which could reasonably be expected to
have, individually or in the aggregate, a Material Adverse Effect.

         (i) All information, exhibits, documents, books, records and reports
furnished in writing at any time by or on behalf of TRW Acquisition in
connection with the Transaction Documents is accurate in all material respects
as of its date or (except as otherwise disclosed to the Recipients at such time)
as of the date so furnished. The Offering Memorandum is accurate in all material
respects as of its date and does not contain any untrue statement of a material
fact or omits to state a material fact necessary in order to make the statements
contained therein, in the light of the circumstances under which they were made,
not misleading. All financial statements and other financial data which have
been or shall hereafter be furnished by TRW Acquisition to any Beneficiary
pursuant to Section 7 fairly present, and will fairly present, in all material
respects, the financial condition of TRW Acquisition and its consolidated
subsidiaries as of the dates set forth therein and the results of operations of
TRW Acquisition and its consolidated subsidiaries for the periods ended on such
dates.

         (j) TRW Acquisition is not an "investment company" as defined in, or
subject to regulation under, the Investment Company Act of 1940, as amended.

         (k) TRW Acquisition and its ERISA Affiliates are in compliance with the
applicable provisions of ERISA and the provisions of the IRC relating to Plans
and the regulations and published interpretations thereunder and any similar
applicable non-U.S. law, except for such noncompliance that could not reasonably
be expected to have a Material Adverse Effect. No Reportable Event has occurred
during the past five years as to which TRW Acquisition or any ERISA Affiliate
was required to file a report with the PBGC, other than reports that have been
filed and reports the failure of which to file could not reasonably be expected
to have a Material Adverse Effect. As of the Closing Date, the present value of
all benefit liabilities under each Plan of TRW Acquisition and the ERISA
Affiliates (based on those assumptions used to fund such Plan), did not as of
the last annual valuation date applicable thereto for which a valuation is
available, exceed the value of the assets of such Plan, and the present value of
all benefit liabilities of all underfunded Plans (on a termination basis and
based on those assumptions used to fund each such Plan by an amount that could
reasonably be expected to have a Material Adverse Effect), as of the last annual
valuation dates applicable thereto for which valuations are available, exceed
the value of the assets of all such underfunded Plans by an amount that could
reasonably be expected to have a Material Adverse Effect. None of TRW
Acquisition and the ERISA Affiliates has incurred or could reasonably be
expected to

                                       7

incur any Withdrawal Liability that could reasonably be expected to have a
Material Adverse Effect. None of TRW Acquisition and the ERISA Affiliates has
received any written notification that any Multiemployer Plan is in
reorganization or has been terminated within the meaning of Title IV of ERISA,
or has knowledge that any Multiemployer Plan is reasonably expected to be in
reorganization or to be terminated, where such reorganization or termination has
had or could reasonably be expected to have, through increases in the
contributions required to be made to such Plan or otherwise, a Material Adverse
Effect.

         (l) Except as set forth on Schedule III, TRW Acquisition has filed or
caused to be filed all material tax returns and has paid or caused to be paid or
made adequate provision for all material taxes due and payable by it and all
material assessments received by it except to the extent that non-payment: (i)
is being contested in good faith; or (ii) could not reasonably be expected to
result in a Material Adverse Effect.

         (m) The direct and indirect benefits to such Performance Guarantor from
the transactions contemplated by the Transaction Documents provide fair
consideration and reasonably equivalent value to such Performance Guarantor for
the obligations it undertakes pursuant to this Guaranty.

         (n) Each Originator is a wholly-owned direct or indirect Subsidiary of
TRW Acquisition.

         (o) Such Performance Guarantor's obligations hereunder rank at least
pari passu with all other unsecured unsubordinated Indebtedness of such
Performance Guarantor.

         Section 7. Covenants. Until the Final Payout Date, TRW Acquisition
will:

         (a) Reporting. Maintain, for itself and each of its Subsidiaries, a
system of accounting established and administered in accordance with GAAP, and
furnish or cause to be furnished to each Recipient and each Funding Agent:

         (i) Annual Reporting. Within 90 days (or such shorter period as the
     Securities and Exchange Commission shall specify for the filing of Annual
     Reports on Form 10-K) after the end of each fiscal year, a consolidated
     balance sheet and related statements of operations, cash flows and owners'
     equity showing the financial position of TRW Acquisition and its
     consolidated Subsidiaries as of the close of such fiscal year and the
     consolidated results of their operations during such year, all audited by
     independent public accountants of recognized national standing reasonably
     acceptable to the Administrative Agent and accompanied by an opinion of
     such accountants (which shall not be qualified in any material respect) to
     the effect that such consolidated financial statements fairly present, in
     all material respects, the financial position and results of operations of
     TRW Acquisition and its consolidated Subsidiaries on a consolidated basis
     in accordance with GAAP (it being understood that the delivery by TRW
     Acquisition of Annual Reports on Form 10-K of TRW Acquisition and its
     consolidated Subsidiaries shall satisfy the requirements of this Section
     7(a)(i) to the extent such Annual Reports include the information specified
     herein; provided that for the fiscal year ended December 31, 2002, TRW
     Acquisition shall furnish (i) not later than March 31, 2003, an

                                       8

     unaudited combined balance sheet and related unaudited statements of income
     and cash flows as of the close of such fiscal year, all certified by a
     Financial Officer of TRW Acquisition as fairly presenting, in all material
     respects, the financial position and results of operations of TRW
     Automotive Inc. and subsidiaries on a combined basis in accordance with
     GAAP (subject to the absence of footnotes and purchase accounting) and (ii)
     as promptly as practicable after the Closing Date, and in no event later
     than May 15, 2003, a combined balance sheet and related statements of
     operations, cash flows and owners' equity showing the financial position of
     the TRW Automotive Inc. and subsidiaries as of the close of such fiscal
     year and the combined results of their operations during such year, all
     audited by independent public accountants of recognized national standing
     reasonably acceptable to the Administrative Agent and accompanied by an
     opinion of such accountants (which shall not be qualified in any material
     respect) to the effect that such combined financial statements fairly
     present, in all material respects, the financial position and results of
     operations of TRW Automotive Inc. and subsidiaries on a combined basis in
     accordance with GAAP.

         (ii) Quarterly Reports. Within 45 days (or such shorter period as the
     SEC shall specify for the filing of Quarterly Reports on Form 10-Q) after
     the end of each of the first three fiscal quarters of each fiscal year, a
     consolidated balance sheet and related statements of operations and cash
     flows showing the financial position of TRW Acquisition and its
     consolidated Subsidiaries as of the close of such fiscal quarter and the
     consolidated results of their operations during such fiscal quarter and the
     then-elapsed portion of the fiscal year, all certified by a Financial
     Officer of TRW Acquisition, as fairly presenting, in all material respects,
     the financial position and results of operations of TRW Acquisition and its
     Subsidiaries on a consolidated basis in accordance with GAAP (subject to
     year-end audit adjustments and the absence of footnotes and except that
     purchase accounting may be reflected on a preliminary basis in financial
     statements delivered for the fiscal quarters ending in 2003) (it being
     understood that the delivery by TRW Acquisition of (i) Quarterly Reports on
     Form 10-Q of TRW Acquisition and its consolidated subsidiaries shall
     satisfy the requirements of this Section 7(a)(ii) to the extent such
     Quarterly Reports include the information specified herein and (ii) with
     respect to the fiscal quarters ended in 2003, a Registration Statement on
     Form S-4 to the extent that such Registration Statement includes the
     information specified herein);

         (iii) Compliance Certificates. (x) Concurrently with any delivery of
     financial statements under (i) or (ii) above, a certificate of a Financial
     Officer of TRW Acquisition (A) certifying that no Termination Event or
     Incipient Termination Event has occurred or, if such a Termination Event or
     Incipient Termination Event has occurred, specifying the nature and extent
     thereof and any corrective action taken or proposed to be taken with
     respect thereto and (B) setting forth computations in reasonable detail
     satisfactory to the Administrative Agent demonstrating compliance with the
     covenants contained in Sections 6.10, 6.11 and 6.12 of the Senior Credit
     Agreement and (y) concurrently with any delivery of financial statements
     under (i) above, a certificate of the accounting firm opining on or
     certifying such statements stating whether they obtained knowledge during
     the course of their examination of such statements of any Incipient
     Termination Event or Termination Event (which certificate may be limited to
     accounting matters and disclaims responsibility for legal interpretations).

                                       9

         (iv) ERISA. Promptly after a Responsible Officer of TRW Acquisition
     obtains actual knowledge thereof, notice of the occurrence of any ERISA
     Event, that together with all other ERISA Events that have occurred, could
     reasonably be expected to result in liability of TRW Acquisition and all
     ERISA Affiliates in an aggregate amount in excess of $60,000,000.

         (v) Debt Ratings. Promptly after a Responsible Officer of TRW
     Acquisition obtains actual knowledge thereof, notice of any downgrade in
     the Debt Rating (or the withdrawal by either S&P or Moody's of a Debt
     Rating) of TRW Acquisition, setting forth the Indebtedness affected and the
     nature of such change (or withdrawal).

         (vi) Periodic Reporting. Promptly after the same becomes publicly
     available, copies of all periodic and other publicly available reports,
     proxy statements, and, to the extent requested by the Administrative Agent,
     other materials filed by Holdings, Intermediate Holdings, TRW Acquisition
     or any of the respective Subsidiaries with the United States Securities and
     Exchange Commission, or distributed to its stockholders generally, as
     applicable; provided, that the items required to be delivered pursuant to
     this clause (vi) shall be deemed to have been delivered on the date when
     reports containing such items are posted on the Edgar system maintained on
     the internet by the United States Securities and Exchange Commission.

         (vii) Litigation; Material Adverse Effect. Promptly after a Responsible
     Officer of TRW Acquisition obtains actual knowledge thereof, notice of (A)
     the filing or commencement of, or any written threat or notice of intention
     of any Person to file or commence, any action, suit or proceeding, whether
     at law or in equity or by or before any Official Body or in arbitration
     against Holdings, Intermediate Holdings or any other Transaction Party or
     any of their Subsidiaries as to which an adverse determination is
     reasonably probable and which could reasonably be expected to have a
     Material Adverse Effect and (B) any other event or condition that is not a
     matter of general public knowledge and that has had, or could reasonably be
     expected to have, a Material Adverse Effect.

         (viii) Other Information. Such other information respecting the
     condition or operations, financial or otherwise, of TRW Acquisition
     (including, without limitation, information regarding any pending or
     threatened litigation) as any Beneficiary may from time to time reasonably
     request.

         (b) Compliance with Laws, Etc. Comply in all respects with all
applicable Laws and preserve and maintain its corporate existence, rights,
franchises, qualifications and privileges except to the extent that the failure
so to comply with such Laws or the failure so to preserve and maintain such
rights, franchises, qualifications, and privileges would not reasonably be
expected to have a Material Adverse Effect.

         Section 8. Subrogation; Subordination. Notwithstanding anything to the
contrary contained herein, each Performance Guarantor: (a) hereby waives until
the Final Payout Date all rights of subrogation (whether contractual, under
Section 509 of the United States Bankruptcy Code, at law or in equity or
otherwise) to the claims of any Beneficiary against any

                                       10

Originator and all contractual, statutory or legal or equitable rights of
contribution, reimbursement, indemnification and similar rights and "claims" (as
that term is defined in the United States Bankruptcy Code) which such
Performance Guarantor might now have or hereafter acquire against any Originator
that arise from the existence or performance of such Performance Guarantor's
obligations hereunder, (b) will not claim any setoff, recoupment or counterclaim
in respect of any liability of any Originator to such Performance Guarantor and
(c) waives any benefit of and any right to participate in any collateral
security which may be held by any Beneficiary. The payment of any amounts due
with respect to any indebtedness of any Originator now or hereafter owed to such
Performance Guarantor is hereby subordinated to the prior payment in full of all
of the Obligations. Each Performance Guarantor agrees that, after the occurrence
of any default in the payment or performance of any of the Obligations, such
Performance Guarantor will not demand, sue for or otherwise attempt to collect
any such indebtedness of any Originator to such Performance Guarantor until all
of the Obligations shall have been paid and performed in full. If,
notwithstanding the foregoing sentence, any Performance Guarantor shall collect,
enforce or receive any amounts in respect of such indebtedness while any
Obligations are still unperformed or outstanding, such amounts shall be
collected, enforced and received by such Performance Guarantor as trustee for
the Beneficiaries and be paid over to the Administrative Agent on account of the
Obligations without affecting in any manner the liability of such Performance
Guarantor under the other provisions of this Guaranty. The provisions of this
Section 8 shall be supplemental to and not in derogation of any rights and
remedies of any Beneficiary under any separate subordination agreement which any
Beneficiary may at any time and from time to time enter into with any
Performance Guarantor.

         Section 9. Termination of Performance Guaranty. The Performance
Guarantors' obligations hereunder shall continue in full force and effect until
all Obligations are indefeasibly paid and satisfied in full and each of the
Originator Purchase Agreements, the European Loan Agreement, the Transfer
Agreement and the Receivables Loan Agreement is terminated, provided, that this
Guaranty shall continue to be effective or shall be reinstated, as the case may
be, if at any time payment or other satisfaction of any of the Obligations is
rescinded or must otherwise be restored or returned upon the bankruptcy,
insolvency, or reorganization of any Originator or otherwise, as though such
payment had not been made or other satisfaction occurred, whether or not either
Recipient (or its assigns) is in possession of this Guaranty. No invalidity,
irregularity or unenforceability by reason of any bankruptcy, insolvency or
other similar Law (whether foreign or domestic), or any Law or order of any
Official Body purporting to reduce, amend or otherwise affect the Obligations
shall impair, affect, be a defense to or claim against the obligations of any
Performance Guarantor under this Guaranty.

         Section 10. Effect of Bankruptcy. This Guaranty shall survive the
bankruptcy or insolvency of any Originator and the commencement of any case or
proceeding by or against any Originator under the federal bankruptcy code or any
other applicable bankruptcy, insolvency or similar Law (whether foreign or
domestic). No automatic stay under the federal bankruptcy code with respect to
any Originator or any other applicable bankruptcy, insolvency or similar Law
(whether foreign or domestic) to which any Originator is subject shall postpone
the obligations of any Performance Guarantor under this Guaranty.

                                       11

         Section 11. Setoff. Regardless of the other means of obtaining payment
of any of the Obligations, at any time after the occurrence and during the
continuance of a Termination Event, each Lender is hereby authorized at any time
and from time to time, without notice to a Performance Guarantor (any such
notice being expressly waived by such Performance Guarantor) and to the fullest
extent permitted by law, to set off and apply any deposits and other sums
against the obligations of such Performance Guarantor under this Guaranty,
whether or not such Beneficiary shall have made any demand under this Guaranty
and although such Obligations may be contingent or unmatured.

         Section 12. Taxes. All payments to be made by any Performance Guarantor
hereunder shall be made free and clear of any deduction or withholding. If any
Performance Guarantor is required by law to make any deduction or withholding on
account of tax or otherwise from any such payment, the sum due from it in
respect of such payment shall be increased to the extent necessary to ensure
that, after the making of such deduction or withholding, each Beneficiary
receives a net sum equal to the sum which they would have received had no
deduction or withholding been made. Notwithstanding the provisions of this
Section 12, (i) any Performance Guarantor's obligation to pay any taxes shall
exclude the obligation to pay Excluded Taxes and (ii) each Performance Guarantor
shall have the same rights and obligations of the Borrower under (x) Section
2.15(e) of the Receivables Loan Agreement, provided that such Performance
Guarantor has informed any applicable Beneficiary that such Performance
Guarantor will be making payments to the Beneficiary pursuant to this Guaranty
and that the Beneficiary must provide the documentation specified therein, (y)
Section 2.15(f) of the Receivables Loan Agreement and (z) if such Performance
Guarantor has informed any applicable Beneficiary that such Performance
Guarantor will be making payments to the Beneficiary pursuant to this Guaranty,
Section 2.19 of the Receivables Loan Agreement, with respect to any additional
amounts paid by it pursuant to this Section 12.

         Section 13. Successors and Assigns.

         (a) This Guaranty shall be binding upon each Performance Guarantor, its
successors and permitted assigns, and shall inure to the benefit of and be
enforceable by each Beneficiary and its successors and assigns. No Performance
Guarantor may assign or transfer any of its obligations hereunder without the
prior written consent of the Transferor, the European Purchaser (if then a party
hereto), the Borrower, the Administrative Agent and the Required Committed
Lenders. If then a party hereto, the European Purchaser may assign or otherwise
transfer its rights hereunder to the Transferor pursuant to the European Loan
Agreement. The Transferor may assign or otherwise transfer its rights hereunder
to the Borrower pursuant to the Transfer Agreement and the Borrower may assign
or otherwise transfer its rights hereunder to Administrative Agent and the
Lenders pursuant to the Receivables Loan Agreement.

         (b) Each Performance Guarantor acknowledges that the Borrower, pursuant
to the Receivables Loan Agreement, shall assign to the Administrative Agent, for
the benefit of the Secured Parties thereunder, all of its rights, remedies,
powers and privileges hereunder and that each such Secured Party may further
assign such rights, remedies, powers and privileges to the extent permitted in
the Receivables Loan Agreement. Each Performance Guarantor agrees that the
Administrative Agent, as the assignee of the Borrower, shall have the right to
enforce this Performance Guaranty and to exercise directly all of the Borrower's
rights and remedies under

                                       12

this Performance Guaranty (including, without limitation, the right to give or
withhold any consents or approvals of the Borrower to be given or withheld
hereunder, and, in any case, without regard to whether specific reference is
made to the Borrower's assigns in the provisions of this Guaranty which set
forth such rights and remedies) and each Performance Guarantor agrees to
cooperate fully with the Administrative Agent in the exercise of such rights and
remedies. Each Performance Guarantor further agrees to give to the
Administrative Agent copies of all notices it is required to give to the
Borrower hereunder.

         Section 14. Amendments and Waivers. No amendment or waiver of any
provision of this Guaranty nor consent to any departure by any Performance
Guarantor therefrom shall be effective unless the same shall be in writing and
signed by the Transferor, the European Purchaser (if then a party hereto), the
Borrower, the Administrative Agent, the Required Committed Lenders and the
Performance Guarantors. No failure on the part of any Beneficiary to exercise,
and no delay in exercising, any right hereunder shall operate as a waiver
thereof; nor shall any single or partial exercise of any right hereunder
preclude any other or further exercise thereof or the exercise of any other
right.

         Section 15. Notices. Except as provided below, all communications and
notices provided for hereunder shall be in writing (including telecopy or
electronic facsimile transmission or similar writing) and shall be given to the
other party at its address or telecopy number specified below or at such other
address or telecopy number as such party may hereafter specify for the purposes
of notice to such party. Each such notice or other communication shall be
effective (a) if given by telecopy, when such telecopy is transmitted to the
telecopy number specified in this Section 15 and confirmation is received, (b)
if given by mail three Business Days following such posting, postage prepaid,
U.S. certified or registered, (c) if given by overnight courier, one Business
Day after deposit thereof with a national overnight courier service, or (d) if
given by any other means, when received at the address specified in this Section
15.

         If to TRW Acquisition, to its address set forth on Schedule II.

         If to any Performance Guarantor (other than TRW Acquisition) to its
notice address set forth in the North American Originator Purchase Agreement or
European Originator Purchase Agreement, as applicable.

         If to a Recipient, to its address set forth on Schedule II.

         Section 16. GOVERNING LAW. THIS GUARANTY SHALL BE CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

         Section 17. Consent to Jurisdiction. Each party hereto hereby
irrevocably submits to the non-exclusive jurisdiction of any New York State or
Federal court sitting in New York City in any action or proceeding arising out
of or relating to this Agreement, and each party hereto hereby irrevocably
agrees that all claims in respect of such action or proceeding may be heard and
determined in such New York State court or, to the extent permitted by law, in
such Federal court. The parties hereto hereby irrevocably waive, to the fullest
extent they may

                                       13

effectively do so, the defense of an inconvenient forum to the maintenance of
such action or proceeding. The parties hereto agree that a final judgment in any
such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law.
Each of the Sellers and the Buyer consents to the service of any and all process
in any such action or proceeding by the mailing of copies of such process to it
at its address specified in Section 15. Nothing in this Section 17 shall affect
the right of any Seller or the Buyer (or their respective assigns) to serve
legal process in any other manner permitted by law.

         Section 18. Bankruptcy Petition. Each Performance Guarantor hereby
covenants and agrees that, prior to the date that is one year and one day after
the Final Payout Date, it will not institute against, or join any other Person
in instituting against, the Transferor, the Borrower or the European Purchaser
any bankruptcy, reorganization, arrangement, insolvency or liquidation
proceedings or other similar proceeding under the Laws of any jurisdiction
(whether foreign or domestic). Each Performance Guarantor further agrees that it
will not institute against any Conduit Lender any proceeding of the type
referred to in the definition of "Event of Bankruptcy" in the Receivables Loan
Agreement so long as any Commercial Paper or other senior indebtedness issued by
such Conduit Lender shall be outstanding or there shall not have elapsed one
year plus one day since the last day on which any such Commercial Paper or other
senior indebtedness shall have been outstanding.

         Section 19. WAIVER OF JURY TRIAL. EACH PERFORMANCE GUARANTOR HEREBY
WAIVES, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY
JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER
SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO ,
OR CONNECTED WITH THIS GUARANTY OR ANY OTHER TRANSACTION DOCUMENT.

         Section 20. Miscellaneous. This Guaranty constitutes the entire
agreement of the Performance Guarantors with respect to the matters set forth
herein. The rights and remedies herein provided are cumulative and not exclusive
of any remedies provided by law or any other agreement, and this Guaranty shall
be in addition to any other guaranty of or collateral security for any of the
Obligations. The provisions of this Guaranty are severable, and in any action or
proceeding involving any state corporate law, or any state or federal
bankruptcy, insolvency, reorganization or other law affecting the rights of
creditors generally, if the obligations of any Performance Guarantor hereunder
would otherwise be held or determined to be avoidable, invalid or unenforceable
on account of the amount of such Performance Guarantor's liability under this
Guaranty, then, notwithstanding any other provision of this Guaranty to the
contrary, the amount of such liability shall, without any further action by such
Performance Guarantor or any Beneficiary, be automatically limited and reduced
to the highest amount that is valid and enforceable as determined in such action
or proceeding. Any provisions of this Guaranty which are 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. Unless otherwise specified, references herein to "Section"
shall mean a reference to sections of this Guaranty.

                                       14

         IN WITNESS WHEREOF, each Performance Guarantor has caused this Guaranty
to be executed and delivered as of the date first above written.

                                    TRW AUTOMOTIVE U.S. LLC

                                    By     /s/ David L. Bialosky
                                           ---------------------
                                    Name:  David L. Bialosky
                                    Title: Vice President and General Counsel

                                    KELSEY-HAYES COMPANY

                                    By     /s/ David L. Bialosky
                                           ---------------------
                                    Name:  David L. Bialosky
                                    Title: Secretary and Vice President

                                    TRW AUTOMOTIVE U.S. LLC

                                    By     /s/ David L. Bialosky
                                           ---------------------
                                    Name:  David L. Bialosky
                                    Title: Vice President and General Counsel

                                    TRW VEHICLE SAFETY SYSTEMS INC.

                                    By     /s/ David L. Bialosky
                                           ---------------------
                                    Name:  David L. Bialosky
                                    Title: Secretary and Vice President

                                    LAKE CENTER INDUSTRIES
                                    TRANSPORTATION, INC.

                                    By     /s/ David L. Bialosky
                                           ---------------------
                                    Name:  David L. Bialosky
                                    Title: Secretary and Vice President

                                    TRW AUTOMOTIVE GLOBAL RECEIVABLES LLC

                                    By     /s/ David L. Bialosky
                                           ---------------------
                                    Name:  David L. Bialosky
                                    Title: Secretary and Vice President

ACKNOWLEDGED AND ACCEPTED:

TRW AUTOMOTIVE RECEIVABLES LLC
as Transferor

By /s/ David L. Bialosky
   -----------------------------------------------------
Name:  David L. Bialosky
Title: Vice President and General Counsel

TRW AUTOMOTIVE GLOBAL RECEIVABLES LLC
as Borrower

By /s/ David L. Bialosky
   -----------------------------------------------------
Name:  David L. Bialosky
Title: Vice President and General Counsel

JPMORGAN CHASE BANK
as Administrative Agent

By /s/ Christopher Lew
   -----------------------------------------------------
Name:  Christopher Lew
Title: Assistant Vice President

                                       2

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