Document:

EX-10.8

 

Exhibit
10.8

Execution Copy

REVOLVING FACILITY SECURITY AGREEMENT

Dated as of January 31, 2008

From

DANA HOLDING CORPORATION,

— and —

the other Grantors referred to herein

as Grantors

to

CITICORP USA, INC.,

as Collateral Agent

 

 

i

TABLE OF CONTENTS

	 	 	 	 	 
	Section	 	Page	 
	Section 1. Grant of Security
	 	 	2	 
	Section 2. Security for Obligations
	 	 	6	 
	Section 3. Grantors Remain Liable
	 	 	7	 
	Section 4. Delivery and Control of Security Collateral
	 	 	7	 
	Section 5. Maintaining the Account Collateral
	 	 	8	 
	Section 6. Investing of Amounts in the Collateral Account
	 	 	9	 
	Section 7. Release of Amounts
	 	 	9	 
	Section 8. Representations and Warranties
	 	 	10	 
	Section 9. Further Assurances
	 	 	13	 
	Section 10. As to Equipment and Inventory
	 	 	14	 
	Section 11. Insurance
	 	 	15	 
	Section 12. Post-Closing Changes; Collections on Receivables and Related Contracts
	 	 	15	 
	Section 13. As to Intellectual Property Collateral
	 	 	16	 
	Section 14. Voting Rights; Dividends; Etc
	 	 	18	 
	Section 15. As to Letter-of-Credit Rights
	 	 	19	 
	Section 16. Commercial Tort Claims
	 	 	20	 
	Section 17. Transfer and Other Liens; Additional Shares
	 	 	20	 
	Section 18. Collateral Agent Appointed Attorney-in-Fact
	 	 	20	 
	Section 19. Collateral Agent May Perform
	 	 	21	 
	Section 20. The Collateral Agent’s Duties
	 	 	21	 
	Section 21. Remedies
	 	 	21	 
	Section 22. Maintenance of Records
	 	 	23	 
	Section 23. Indemnity and Expenses
	 	 	24	 
	Section 24. Limitations on Liens on Collateral
	 	 	24	 
	Section 25. Amendments; Waivers; Additional Grantors; Etc.
	 	 	24	 
	Section 26. Notices, Etc
	 	 	25	 

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ii

	 	 	 	 	 
	Section	 	Page	 
	Section 27. Continuing Security Interest; Assignments Under the Credit Agreement
	 	 	25	 
	Section 28. Release; Termination
	 	 	25	 
	Section 29. Certain Provisions in Respect of Mexican Inventory
	 	 	26	 
	Section 30. Execution in Counterparts
	 	 	26	 
	Section 31. Governing Law
	 	 	27	 

Schedules

	 	 	 	 	 
	Schedule I

	 	—
	 	Investment Property
	Schedule II

	 	—
	 	Pledged Deposit Accounts/Securities Accounts
	Schedule III

	 	—
	 	Intellectual Property
	Schedule IV

	 	—
	 	Commercial Tort Claims
	Schedule V

	 	—
	 	Chief Executive Office, Type of Organization, Jurisdiction of Organization and Organizational
Identification Number
	Schedule VI

	 	—
	 	Changes in Name, Location, Etc.
	Schedule VII

	 	—
	 	Locations of Equipment and Inventory
	Schedule VIII

	 	—
	 	Letters of Credit
	 
	 	 	 	 
	Exhibits
	 	 	 	 
	 
	 	 	 	 
	Exhibit A

	 	—
	 	Form of Revolving Facility Security Agreement Supplement
	Exhibit B

	 	—
	 	Form of Intellectual Property Revolving Facility Security Agreement
	Exhibit C

	 	—
	 	Form of Intellectual Property Revolving Facility Security Agreement Supplement

	Exhibit D

	 	—
	 	Form of Mexican Depository Letter

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REVOLVING FACILITY SECURITY AGREEMENT

          REVOLVING FACILITY SECURITY AGREEMENT, dated as of January 31, 2008 (this “Agreement”), made
by DANA HOLDING CORPORATION (the “Borrower”), the other Persons listed on the signature pages
hereof and the Additional Grantors (as defined in Section 25) (the Borrower, the Persons so listed
and the Additional Grantors being, collectively, the “Grantors”), to CITICORP USA, INC., as
collateral agent (in such capacity, together with any successor collateral agent appointed pursuant
to Article VII of the Credit Agreement (as hereinafter defined), the “Collateral Agent”) for the
Secured Parties (as defined in the Credit Agreement referred to below).

          PRELIMINARY STATEMENTS.

          1. The Borrower and the Guarantors (as defined in the Credit Agreement) have entered into a
Revolving Credit and Guaranty Agreement, dated as of January 31, 2008 (said agreement, as it may
hereafter be amended, amended and restated, supplemented or otherwise modified from time to time,
being the “Credit Agreement”) with the Lenders and the Agents (each as defined therein).

          2. Each Grantor is the owner of the shares of issued and outstanding stock or other Equity
Interests (the “Initial Pledged Equity”) set forth opposite such Grantor’s name on and as otherwise
described in Part I of Schedule I hereto and issued by the Persons named therein.

          3. Each Grantor is the creditor with respect to the indebtedness (the “Initial Pledged Debt”)
owed to such Grantor set forth opposite such Grantor’s name on and as otherwise described in Part
II of Schedule I hereto and issued by the obligors named therein

          4. Each Grantor is the owner of the deposit accounts (together with any deposit accounts as to
which such Grantor has complied with the requirements of Section 5(a), the “Pledged Deposit
Accounts”) set forth opposite such Grantor’s name on Schedule II hereto; provided that the term
“Pledged Deposit Accounts” shall not include the Excluded Accounts.

          5. Each Grantor is the owner of the securities accounts (the “Securities Accounts”) set forth
opposite such Grantor’s name on Schedule II hereto.

          6. Upon the request of the Collateral Agent, the Borrower will establish a deposit account
(the “Collateral Account”) with the Collateral Agent, for its own benefit and the benefit of the
other Secured Parties, under the sole and exclusive dominion and control of the Collateral Agent,
in the name of the Collateral Agent or as the Collateral Agent shall otherwise direct, which
account will be subject to the terms and conditions of this Agreement.

          7. Each Grantor is the beneficiary under certain letters of credit as described opposite such
Grantor’s name on Schedule VIII hereto.

          8. It is a condition precedent to the making of Advances by the Lender Parties under the
Credit Agreement and the entry into the Secured Hedge Agreements by the Hedge Banks from time to
time that the Grantors shall have granted the security interest and made the pledge and assignment
contemplated by this Agreement.

          9. Each Grantor will derive substantial direct and indirect benefit from the transactions
contemplated by the Loan Documents.

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          10. Terms defined in the Credit Agreement and not otherwise defined in this Agreement are used
in this Agreement as defined in the Credit Agreement. Further, unless otherwise defined in this
Agreement or in the Credit Agreement, terms defined in Article 8 or 9 of the UCC (as defined below)
are used in this Agreement as such terms are defined in such Article 8 or 9. “UCC” means the
Uniform Commercial Code as in effect from time to time in the State of New York; provided that, if
perfection or the effect of perfection or non-perfection or the priority of the security interest
in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other
than the State of New York, “UCC” means the Uniform Commercial Code as in effect from time to time
in such other jurisdiction for purposes of the provisions hereof relating to such perfection,
effect of perfection or non-perfection or priority. In addition, this Agreement and the terms used
herein shall be subject to the rules of construction as set forth in Section 1.04 of the Credit
Agreement.

          NOW, THEREFORE, in consideration of the premises and in order to induce the Lender Parties to
make Advances under the Credit Agreement and to induce the Hedge Banks to enter into Secured Hedge
Agreements from time to time, each Grantor hereby agrees with the Collateral Agent for the ratable
benefit of the Secured Parties as follows:

          Section 1. Grant of Security. Each Grantor hereby grants to the Collateral Agent, for the
ratable benefit of the Secured Parties, a security interest in such Grantor’s right, title and
interest in and to the following personal property, in each case, as to each type of property
described below, whether now owned or hereafter acquired by such Grantor, wherever located, and
whether now or hereafter existing or arising (collectively, the “Collateral”):

     (a) all equipment in all of its forms (but excluding motor vehicles), including,
without limitation, all machinery, tools, furniture and fixtures, and all parts thereof and
all accessions thereto, including, without limitation, computer programs and supporting
information that constitute equipment within the meaning of the UCC (any and all such
property being the “Equipment”);

     (b) all inventory in all of its forms, including, without limitation, (i) all raw
materials, work in process, finished goods and materials used or consumed in the
manufacture, production, preparation or shipping thereof; (ii) goods in which such Grantor
has an interest in mass or a joint or other interest or right of any kind (including,
without limitation, goods in which such Grantor has an interest or right as consignee) and
(iii) goods that are returned to or repossessed or stopped in transit by such Grantor), and
all accessions thereto and products thereof and documents therefor, including, without
limitation, computer programs and supporting information that constitute inventory within
the meaning of the UCC (any and all such property being the “Inventory”);

     (c) all accounts (including, without limitation, health care insurance receivables),
chattel paper (including, without limitation, tangible chattel paper and electronic chattel
paper), instruments (including, without limitation, promissory notes), deposit accounts,
letter-of-credit rights, general intangibles (including, without limitation, payment
intangibles) and other obligations of any kind, whether or not arising out of or in
connection with the sale or lease of goods or the rendering of services and whether or not
earned by performance, and all rights now or hereafter existing in and to all supporting
obligations and in and to all security agreements, mortgages, Liens, leases, letters of
credit and other contracts securing or otherwise relating to the foregoing property (any and
all of such accounts, chattel paper, instruments, deposit accounts, letter-of-credit rights,
general intangibles and other obligations, to the extent not referred to in clauses (d), (e)
or (f) below, being the “Receivables,” and any and all such supporting obligations,

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security agreements, mortgages, Liens, leases, letters of credit and other contracts being the “Related Contracts”);

     (d) the following (collectively, the “Security Collateral”):

     (i) the Initial Pledged Equity and the certificates, if any, representing the
Initial Pledged Equity, and all dividends, distributions, returns of capital, cash,
instruments and other property from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all of the Initial Pledged
Equity and all warrants, rights or options issued thereon or with respect thereto;

     (ii) the Initial Pledged Debt and the instruments, if any, evidencing the
Initial Pledged Debt, and all interest, cash, instruments and other property from
time to time received, receivable or otherwise distributed in respect of or in
exchange for any or all of the Initial Pledged Debt;

     (iii) all additional shares of stock and other Equity Interests from time to
time acquired by such Grantor, in any manner (such shares and other Equity
Interests, together with the Initial Pledged Equity, being the “Pledged Equity”),
and the certificates, if any, representing such additional shares or other Equity
Interests, and all dividends, distributions, return of capital, cash, instruments
and other property from time to time received, receivable or otherwise distributed
in respect of or in exchange for any or all such shares or other Equity Interests
and all warrants, rights or options issued thereon or with respect thereto; provided
that, notwithstanding anything elsewhere in this Agreement or any other Loan
Document to the contrary, no Grantor shall be required to pledge any Equity
Interests in (A) any Foreign Subsidiary that is a “controlled foreign corporation”
within the meaning of Code section 957(a) or (B) any domestic Subsidiary the sole
assets of which consist of the Equity Interest of any Foreign Subsidiary that is a
“controlled foreign corporation” within the meaning of Code section 957(a) (together
hereinafter, a “Controlled Foreign Corporation”) (or any Equity Interests in any
entity that is treated as a partnership or a disregarded entity for United States
federal income tax purposes and whose assets are substantially only Equity Interests
in Foreign Subsidiaries that are Controlled Foreign Corporations (a “Flow-Through
Entity”)) owned or otherwise held by such Grantor which, when aggregated with all of
the other Equity Interests in such Controlled Foreign Corporation (or Flow-Through
Entity) pledged by any Grantor, would result (or would be deemed to result for
United States federal income tax purposes) in more than 65% of the total combined
voting power of all classes of stock in a Controlled Foreign Corporation or Equity
Interests in a Flow-Through Entity entitled to vote (within the meaning of Treasury
Regulation Section 1.956-2(c)(2) promulgated under the Internal Revenue Code) (the
“Voting Foreign Stock”) being pledged to the Collateral Agent, on behalf of the
Secured Parties, under this Agreement (although all of the shares of stock in a
Controlled Foreign Corporation or Equity Interests in a Flow-Through Entity not
entitled to vote (within the meaning of Treasury Regulation Section 1.956-2(c)(2)
promulgated under the Internal Revenue Code) (the “Non-Voting Foreign Stock”) shall
be pledged by each of the Grantors that owns or otherwise holds any such Non-Voting
Foreign Stock therein) (any Equity Interests excluded pursuant to this proviso shall
be referred to herein as the “Excluded Equity Interests”); provided further that,
if, as a result of any change in the tax laws of the United States of America after
the date of this Agreement, the pledge by such Grantor of any additional shares of
stock in any such Controlled Foreign Corporation or Equity Interests in a
Flow-Through Entity to the Collateral Agent, on behalf of the Secured Parties,
under this Agreement would not

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result in an increase in the aggregate net consolidated tax liabilities or in
the reduction of any loss carryforward, tax basis or other tax attribute, of the
Borrower and its Subsidiaries, then, promptly after the change in such laws, all
such additional shares of stock shall be so pledged under this Agreement;

     (iv) all additional indebtedness from time to time owed to such Grantor (such
indebtedness, together with the Initial Pledged Debt, being the “Pledged Debt”) and
the instruments, if any, evidencing such indebtedness, and all interest, cash,
instruments and other property from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all of such indebtedness;

     (v) the Securities Accounts, all security entitlements with respect to all
financial assets from time to time credited to the Securities Accounts, and all
financial assets, and all dividends, distributions, return of capital, interest,
cash, instruments and other property from time to time received, receivable or
otherwise distributed in respect of or in exchange for any or all of such security
entitlements or financial assets and all warrants, rights or options issued thereon
or with respect thereto; and

     (vi) all other investment property (including, without limitation, all (A)
securities (whether certificated or uncertificated), (B) security entitlements, (C)
securities accounts, (D) commodity contracts and (E) commodity accounts) in which
such Grantor has now, or acquires from time to time hereafter, any right, title or
interest in any manner, and the certificates or instruments, if any, representing or
evidencing such investment property, and all dividends, distributions, return of
capital, interest, cash, instruments and other property from time to time received,
receivable or otherwise distributed in respect of or in exchange for any or all of
such investment property and all warrants, rights or options issued thereon or with
respect thereto;

     (e) the following (collectively, the “Account Collateral”):

     (i) the Pledged Deposit Accounts, the Collateral Account and all funds and
financial assets from time to time credited thereto (including, without limitation,
all Cash Equivalents), and all certificates and instruments, if any, from time to
time representing or evidencing the Pledged Deposit Accounts or the Collateral
Account;

     (ii) all promissory notes, certificates of deposit, checks and other
instruments from time to time delivered to or otherwise possessed by the Collateral
Agent for or on behalf of such Grantor in substitution for or in addition to any or
all of the then existing Account Collateral; and

     (iii) all interest, dividends, distributions, cash, instruments and other
property from time to time received, receivable or otherwise distributed in respect
of or in exchange for any or all of the then existing Account Collateral;

     (f) the following (collectively, the “Intellectual Property Collateral”):

     (i) all patents, patent applications, utility models and statutory invention
registrations, all inventions claimed or disclosed therein and all improvements
thereto (the “Patents”);

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     (ii) all trademarks, service marks, domain names, trade dress, logos, designs,
slogans, trade names, business names, corporate names and other source identifiers,
whether registered or unregistered (provided that no security interest shall be
granted in United States intent-to-use trademark applications until the earlier of
(x) the filing of a statement of use therefore or (y) the issuance of a registration
thereon, together, in each case, with the goodwill symbolized thereby) (the
“Trademarks”);

     (iii) all copyrights, including, without limitation, copyrights in Computer
Software (as hereinafter defined), internet web sites and the content thereof,
whether registered or unregistered (the “Copyrights”);

     (iv) all computer software, programs and databases (including, without
limitation, source code, object code and all related applications and data files),
firmware and documentation and material relating thereto, together with any and all
maintenance rights, service rights, programming rights, hosting rights, test rights,
improvement rights, renewal rights and indemnification rights and any substitutions,
replacements, improvements, error corrections, updates and new versions of any of
the foregoing (the “Computer Software”);

     (v) all confidential and proprietary information, including, without
limitation, know-how, trade secrets, manufacturing and production processes and
techniques, inventions, research and development information, databases and data,
including, without limitation, technical data, financial, marketing and business
data, pricing and cost information, business and marketing plans and customer and
supplier lists and information (collectively, the “Trade Secrets”), and all other
intellectual, industrial and intangible property of any type, including, without
limitation, industrial designs and mask works;

     (vi) all registrations and applications for registration for any of the
foregoing, including, without limitation, those registrations and applications for
registration set forth in Schedule III hereto, together with all reissues,
divisions, continuations, continuations-in-part, extensions, renewals and
reexaminations thereof;

     (vii) all tangible embodiments of the foregoing, all rights in the foregoing
provided by international treaties or conventions, all rights corresponding thereto
throughout the world and all other rights of any kind whatsoever of such Grantor
accruing thereunder or pertaining thereto;

     (viii) all agreements, permits, consents, orders and franchises relating to the
license, development, use or disclosure of any of the foregoing to which such
Grantor, now or hereafter, is a party or a beneficiary, including, without
limitation, the agreements set forth in Schedule III hereto (the “IP Agreements”);
and

     (ix) any and all claims for damages and injunctive relief for past, present and
future infringements, dilution, misappropriation, violation, misuse or breach with
respect to any of the foregoing, with the right, but not the obligation, to sue for
and collect, or otherwise recover, such damages;

     (g) the commercial tort claims described in Schedule IV hereto with respect to the
collateral described in clauses (a) through (f) above (together with any commercial tort
claims as

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to which the Grantors have complied with the requirements of Section 16, the
“Commercial Tort Claims Collateral”);

     (h) all books, records, account ledgers, data processing records (including, without
limitation, customer lists, credit files, printouts and other computer output materials and
records) of such Grantor pertaining to any of the collateral described in clauses (a)
through (g) above; and

     (i) all proceeds of, collateral for, income, royalties and other payments now or
hereafter due and payable with respect to, and supporting obligations relating to, any and
all of Collateral (including, without limitation, proceeds, collateral and supporting
obligations that constitute property of the types described in clauses (a) through (i) of
this Section 1) and, to the extent not otherwise included, all (A) payments under insurance
(whether or not the Collateral Agent is the loss payee thereof), or any indemnity, warranty
or guaranty, payable by reason of loss or damage to or otherwise with respect to any of the
foregoing Collateral, and (B) cash;

          provided that, notwithstanding anything to the contrary in this Agreement, this Agreement
shall not constitute an assignment or pledge to or grant of a security interest in any of the
following Collateral (each, an “Excluded Asset”): (i) any Collateral to the extent (but only so
long as) the granting of a security interest therein is prohibited by applicable law or regulation
unless any applicable consents or waivers have been obtained, (ii) any Collateral excluded under
the Credit Agreement (including, but not limited to, the Excluded Accounts), (iii) assets of any
Excluded Subsidiary, (iv) leases (subject to compliance with the requirements set forth in the
Credit Agreement), licenses, instruments and agreements to the extent that the pledge of such
leases, licenses, instruments and agreements hereunder would violate the respective terms thereof
or give a right of termination thereunder, (v) motor vehicles, (vi) any Excluded Equity Interests
and (vii) any Collateral as to which the Administrative Agent determines, in its reasonable
discretion at the request of the Borrower, that the costs of obtaining such a security interest,
pledge or assignment are excessive in relation to the value of the security to be afforded thereby.

          Section 2. Security for Obligations.

     (a) This Agreement secures, in the case of each Grantor, the payment of all Obligations
of such Grantor now or hereafter existing under the Loan Documents, the Secured Hedge
Agreements and the Cash Management Obligations, whether direct or indirect, absolute or
contingent, and whether for principal, reimbursement obligations, interest, fees, premiums,
penalties, indemnifications, contract causes of action, costs, expenses or otherwise (all
such Obligations being the “Secured Obligations”). Without limiting the generality of the
foregoing, this Agreement secures, as to each Grantor, the payment of all amounts that
constitute part of the Secured Obligations and would be owed by such Grantor to any Secured
Party under the Loan Documents but for the fact that they are unenforceable or not allowable
due to the existence of a bankruptcy, reorganization or similar proceeding involving a Loan
Party.

     (b) Notwithstanding anything herein to the contrary, the Liens and security interest
granted to the Collateral Agent hereunder for the benefit of the Secured Parties pursuant to
this Agreement, and the exercise of any right or remedy by the Collateral Agent for the
benefit of the Secured Parties hereunder, are subject to the provisions of that certain
Intercreditor Agreement dated as of January 31, 2008 (the “Intercreditor Agreement”) among
Citicorp USA, Inc., as Term Facility Collateral Agent (as defined in the Intercreditor
Agreement), Citicorp USA, Inc., as Term Facility Administrative Agent (as defined in the
Intercreditor Agreement), Citicorp USA, Inc., as Revolving Facility Collateral Agent and as
Revolving Facility Administrative Agent (as defined in the Intercreditor Agreement), the
Borrower and such other parties as may be added thereto

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from time to time in accordance with the terms thereof and as the Intercreditor
Agreement may be amended or otherwise modified from time to time in accordance with the
terms thereof. As between (i) the lender parties under that certain Term Facility Credit
and Guaranty Agreement, dated as of January 31, 2008, among the Borrower, the Guarantors
party thereto, the lenders party thereto, and Citicorp USA, Inc., as administrative agent,
and (ii) the Lender Parties under the Credit Agreement, in the event of any conflict between
the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor
Agreement shall govern and control.

          Section 3. Grantors Remain Liable. Anything herein to the contrary notwithstanding, (a) each
Grantor shall remain liable under the contracts and agreements included in such Grantor’s
Collateral to the extent set forth therein to perform all of its duties and obligations thereunder
to the same extent as if this Agreement had not been executed, (b) the exercise by the Collateral
Agent of any of the rights hereunder shall not release any Grantor from any of its duties or
obligations under the contracts and agreements included in the Collateral and (c) no Secured Party
shall have any obligation or liability under the contracts and agreements included in the
Collateral by reason of this Agreement or any other Loan Document, nor shall any Secured Party be
obligated to perform any of the obligations or duties of any Grantor thereunder or to take any
action to collect or enforce any claim for payment assigned hereunder.

          Section 4. Delivery and Control of Security Collateral. Subject to the Intercreditor Agreement:

     (a) All certificates or instruments representing or evidencing Security Collateral (if
certificated) shall be delivered to and held by or on behalf of the Collateral Agent
pursuant hereto and shall be in suitable form for transfer by delivery, or shall be
accompanied by duly executed instruments of transfer or assignment in blank, all in form and
substance reasonably satisfactory to the Collateral Agent; provided that no Grantor shall be
required to deliver an instrument representing Pledged Debt if the principal amount of such
Pledged Debt is less than $1,000,000. After the occurrence and during the continuance of an
Event of Default, the Collateral Agent shall have the right to exchange certificates or
instruments representing or evidencing Security Collateral for certificates or instruments
of smaller or larger denominations.

     (b) With respect to any Security Collateral that constitutes an uncertificated security
that is at any time subject to Article 8 of the UCC and is not held in a Securities Account,
the relevant Grantor will cause, to the extent permitted by applicable law, each issuer
thereof that is a Subsidiary of such Grantor to execute and deliver to the Collateral Agent
an acknowledgment of the pledge of such Security Collateral in a form and substance that is
reasonably satisfactory to the Borrower and the Collateral Agent (such agreement being an
“Uncertificated Security Control Agreement”).

     (c) With respect to (i) the Securities Accounts and (ii) any Security Collateral that
constitutes a security entitlement as to which the financial institution acting as
Collateral Agent hereunder is not the securities intermediary, the relevant Grantor will
cause the securities intermediary with respect to each such account or security entitlement
either (A) to identify in its records the Collateral Agent as the entitlement holder thereof
or (B) to agree with such Grantor and the Collateral Agent that such securities intermediary
will comply with entitlement orders originated by the Collateral Agent without further
consent of such Grantor, such agreement to be in form and substance reasonably satisfactory
to the Borrower and Collateral Agent (a “Securities Account Control Agreement”); provided,
however, that the Collateral Agent will (i) not give any such orders except after the
occurrence and during the continuance of an Event of Default and (ii) upon cure (but not a
partial cure) or waiver of any previously continuing Event of Default, the Collateral Agent
shall take such action, at the expense of such Grantor, as shall be reasonably

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necessary to reconvey to such Grantor the right to give entitlement orders and
instructions or directions to any issuer of uncertificated securities or securities
intermediary.

     (d) Upon the request of the Collateral Agent following the occurrence and during the
continuance of an Event of Default, each Grantor will notify each issuer of Securities
Collateral (other than any other Loan Party) in which a security interest has been granted
by it hereunder that such Securities Collateral is subject to the security interest granted
hereunder.

     (e) Notwithstanding anything contained in this Section 4, so long as the Term Facility
Collateral Agent (as defined in the Intercreditor Agreement) is acting as bailee and as
agent for perfection on behalf of the Collateral Agent pursuant to the terms of the
Intercreditor Agreement, any obligation of any Grantor in this Agreement that requires
delivery of Collateral to, or the possession of Collateral with, the Collateral Agent shall
be deemed complied with and satisfied in the event that such delivery of Collateral has been
made to, or such possession of Collateral is with, the Term Facility Collateral Agent (as
defined in the Intercreditor Agreement).

          Section 5. Maintaining the Account Collateral. So long as any Secured Obligations shall remain
outstanding or any Lender shall have any Commitment, subject to the terms and provisions of the
Intercreditor Agreement:

     (a) Each Grantor will maintain Pledge Deposit Accounts only with the financial
institution acting as Collateral Agent hereunder or with a bank (a “Pledged Account Bank”)
that has agreed with such Grantor and the Collateral Agent to comply with instructions
originated by the Collateral Agent directing the disposition of funds in such deposit
account without the further consent of such Grantor, such agreement to be in form and
substance reasonably satisfactory to the Borrower and Collateral Agent (each, a “Deposit
Account Control Agreement”); provided, however, that this Section 5(a) shall not apply to an
Excluded Account or where the Collateral Agent is the bank. So long as a Cash Control
Trigger Event has not occurred and is continuing, the Collateral Agent agrees that (i) it
shall not issue any instructions to any Pledged Account Bank or withhold any withdrawal
rights from such Grantor with respect to funds from time to time credited to any deposit
account and (ii) upon (x) cure (but not a partial cure) or waiver of any previously
continuing Cash Control Trigger Event, the Collateral Agent shall thereafter take such
action, at the expense of such Grantor, as shall be reasonably necessary to reconvey to such
Grantor the right to give instructions directing the disposition of funds credited to any
such deposit account.

     (b) After the occurrence and during the continuance of a Cash Control Trigger Event,
each Grantor will promptly instruct each Person (an “Obligor”) obligated at any time to make
any payment to such Grantor for any reason with respect to the Revolving Facility First Lien
Collateral (as defined in the Intercreditor Agreement) to make such payment to a Pledged
Deposit Account or the Collateral Account, except that such Grantor shall not be under such
obligation with respect to Persons (i) making payments to a Pledged Deposit Account or
Collateral Account as of the date hereof, (ii) making payments to such Grantor less than
$1,000,000 a year in the aggregate, or (iii) making payments to accounts not purported to be
subject to the security interest of the Secured Parties in accordance with the Credit
Agreement, if any.

     (c) Notwithstanding anything contained in this Agreement to the contrary, upon the
occurrence and during the continuance of a Cash Control Trigger Event and upon written
notice thereof from Collateral Agent to the Pledged Account Bank (the “Notice of Exclusive
Control”), (i) all cash and Cash Equivalents in the Pledged Deposit Account shall be
transferred to the

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Collateral Account in accordance with Section 2.17 of the Credit Agreement and (ii) all
cash and Cash Equivalents in the Collateral Account shall be applied in accordance with
Section 2.17 of the Credit Agreement.

     (d) If, at any time after the occurrence and during the continuance of a Cash Control
Trigger Event, any cash or Cash Equivalents owned by any Grantor (other than amounts on
deposit in Excluded Accounts) with respect to Revolving First Lien Collateral are deposited
to any account, or held or invested in any manner, other than in a Pledged Deposit Account
or the Collateral Account, the Collateral Agent may require the applicable Grantor to close
such account and have all funds therein transferred to a Pledged Deposit Account, and all
future deposits made to a Pledged Deposit Account. In addition to the foregoing, during the
continuance of an Event of Default, upon the request of the Collateral Agent, each Grantor
shall provide the Collateral Agent with an accounting of the contents in each Pledged
Deposit Account, which shall identify, to the extent practical, the proceeds from the Term
Facility First Lien Collateral (as defined in the Intercreditor Agreement) which were
deposited in the Pledged Deposit Account and swept into the Collateral Account. Upon the
receipt of the (y) contents of the Pledged Deposit Accounts, and (z) such accounting, the
Collateral Agent agrees to remit to the collateral agent under the Term Facility the
proceeds from the Term Facility First Lien Collateral received by the Collateral Agent.

     (e) In the event that the Collateral Agent shall have delivered a Notice of Exclusive
Control to a Pledged Account Bank at which a Pledged Deposit Account is held, and thereafter
Availability exceeds $75,000,000 for thirty (30) consecutive days, the Collateral Agent,
subject to no Event of Default existing at such time, shall deliver a written notice to such
Pledged Account Bank rescinding the Notice of Exclusive Control previously delivered.

     (f) Upon any termination by a Grantor of any Pledged Deposit Account, such Grantor will
immediately (i) transfer all funds and property held in such terminated Pledged Deposit
Account to another Pledged Deposit Account or other account if a Deposit Account Control
Agreement is entered into in respect of such other account or the Collateral Account and
(ii) notify all Obligors that were making payments to such Pledged Deposit Account to make
all future payments to another Pledged Deposit Account or other account if a Deposit Account
Control Agreement is entered into in respect of such other account or the Collateral
Account, in each case so that the Collateral Agent shall have a continuously perfected
security interest in such Account Collateral, funds and property.

          Section 6. Investing of Amounts in the Collateral Account. The Collateral Agent will, subject to
Sections 5, 7 and 21, from time to time (a) invest, or direct the applicable Pledged Account Bank
to invest, amounts received with respect to the Collateral Account in such Cash Equivalents
credited to the Collateral Account as the Borrower may select so long as no Cash Collateral Trigger
Event has occurred and is continuing and the Collateral Agent may approve, and (b) invest interest
paid on the Cash Equivalents referred to in clause (a) above, and reinvest other proceeds of any
such Cash Equivalents that may mature or be sold, in each case in such Cash Equivalents credited in
the same manner. Interest and proceeds that are not invested or reinvested in Cash Equivalents as
provided above shall be deposited and held in the Collateral Account subject to Sections 5, 7 and
21. In addition, subject to Sections 5, 7 and 21, the Collateral Agent shall have the right at any
time to exchange, or direct the applicable Pledged Account Bank to exchange, such Cash Equivalents
for similar Cash Equivalents of smaller or larger determinations, or for other Cash Equivalents,
credited to the Collateral Account.

          Section 7. Release of Amounts. So long as no Cash Control Trigger Event shall have occurred and
be continuing , the Grantors shall have the sole and exclusive right to direct the applicable

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Pledged Account Bank to pay and release, to the applicable Grantor or at its order or, at the
request of such Grantor, to the Administrative Agent to be applied to the Obligations of the
Grantors under the Loan Documents, such amount, if any, as is then on deposit in the Collateral
Account and the Pledged Deposit Accounts.

          Section 8. Representations and Warranties. Each Grantor represents and warrants as follows:

     (a) As of the Closing Date, such Grantor’s exact legal name, chief executive office,
type of organization, jurisdiction of organization and organizational identification number
is as set forth in Schedule V hereto. Such Grantor has no trade names as of the Closing
Date other than as listed on Schedule III hereto. Within the five years preceding the
Closing Date, such Grantor has not changed its name, chief executive office, type of
organization, jurisdiction of organization or organizational identification number from
those set forth in Schedule V hereto except as set forth in Schedule VI hereto.

     (b) Such Grantor is the legal and beneficial owner of the Collateral granted or
purported to be granted by it free and clear of any Lien, claim, option or right of others,
except for (x) Permitted Liens and (y) the security interest created under this Agreement or
as permitted under the Credit Agreement. To the best of such Grantor’s knowledge, no valid
or effective financing statement or other instrument similar in effect covering all or any
part of such Collateral or listing such Grantor or any trade name of such Grantor as debtor
is on file in any recording office, except such as may have been filed in favor of the
Collateral Agent relating to the Loan Documents or as otherwise permitted under the Credit
Agreement.

     (c) All of the Equipment and Inventory of such Grantor are located at the places
specified therefor in Schedule VII hereto or at another location as to which such Grantor
has complied with the requirements of Section 10(a). Such Grantor has exclusive possession
and control of its Equipment and Inventory, other than Inventory stored at any leased
premises or warehouse.

     (d) None of the Receivables is evidenced by a promissory note or other instrument that
has not been delivered to the Collateral Agent.

     (e) If such Grantor is an issuer of Security Collateral, such Grantor confirms that it
has received notice of the security interest granted hereunder to the extent required under
this Agreement.

     (f) The Pledged Equity of any Subsidiary which has been pledged by such Grantor
hereunder has been duly authorized and validly issued and is fully paid and non assessable.
The Pledged Debt pledged by such Grantor hereunder which has been issued by a Loan Party has
been duly authorized, authenticated or issued and delivered, is the legal, valid and binding
obligation of the issuers thereof, and if in an amount in excess of $1,000,000, is evidenced
by one or more promissory notes (which promissory notes have been delivered to the
Collateral Agent) and as of the Closing Date is not in default.

     (g) The Initial Pledged Equity pledged by such Grantor constitutes the percentage of
the issued and outstanding Equity Interests of the issuers thereof indicated on Schedule I
hereto. The Initial Pledged Debt constitutes all of the outstanding indebtedness owed to
such Grantor by the issuers thereof and is outstanding in the principal amount indicated on
Schedule I hereto.

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     (h) As of the Closing Date, such Grantor has no investment property, other than the
investment property listed on Schedule I hereto and additional investment property as to
which such Grantor has complied with the requirements of Section 4.

     (i) Such Grantor has no deposit accounts, other than the Pledged Deposit Accounts
listed on Schedule II hereto, Excluded Accounts, and additional Pledged Deposit Accounts as
to which such Grantor has complied with the applicable requirements of Section 5.

     (j) Such Grantor is not a beneficiary or assignee under any letter of credit, other
than the letters of credit described in Schedule VIII hereto and additional letters of
credit as to which such Grantor has complied with the requirements of Section 15.

     (k) This Agreement creates in favor of the Collateral Agent for the benefit of the
Secured Parties a valid security interest in the Collateral granted by such Grantor (to the
extent such matter is governed by the laws of the United States, or a jurisdiction located
therein), securing the payment of the Secured Obligations and when (i) financing statements
and other filings, including, without limitation, filings with the United States Patent and
Trademark Office or the United States Copyright Office, in appropriate form are filed in the
applicable filing offices and (ii) upon the taking of possession or control by the
Collateral Agent of the Collateral with respect to which a security interest may be
perfected only by possession or control, the Liens created by this Agreement shall
constitute fully perfected Liens on, and security interests in, all right, title and
interest of the grantors in the Collateral (other than such Collateral in which a security
interest cannot be perfected by such action under the UCC as in effect at the relevant time
in the relevant jurisdiction), in each case subject to no Liens other than Permitted Liens
and other Liens created or permitted by the Loan Documents.

     (l) No governmental authorization, and no notice to or filing with, any governmental
authority or other third party is required for (i) the grant by such Grantor of the security
interest granted hereunder or for the execution, delivery or performance of this Agreement
by such Grantor, (ii) the perfection or maintenance of the security interest created
hereunder (including the first priority nature and second priority nature thereof set forth
in the Intercreditor Agreement), to the extent such perfection is required hereunder and can
be accomplished under applicable laws of the United States or any jurisdiction located
therein (except for the filing of financing statements and continuation statements under the
UCC, which financing statements have been or will be filed after the date hereof and, at
such time, will be in full force and effect, the recordation of the Intellectual Property
Security Agreements referred to in Section 13(f) with the U.S. Patent and Trademark Office
and the U.S. Copyright Office, which agreements, once recorded, will be in full force and
effect, and the actions described in Section 4 with respect to the Security Collateral,
which actions have been taken (or will be taken subject to the Intercreditor Agreement) and
are in full force and effect), or (iii) the exercise by the Collateral Agent or any Lender
Party of its voting or other rights provided for in this Agreement or the remedies in
respect of the Collateral pursuant to this Agreement, except as may be required in
connection with the disposition of any portion of the Security Collateral by laws affecting
the offering and sale of securities generally.

     (m) Except where failure to so comply would not be reasonably likely to have a Material
Adverse Effect, the Inventory that has been produced or distributed by such Grantor has been
produced in compliance with all requirements of applicable law, including, without
limitation, the Fair Labor Standards Act and similar laws affecting such Grantor.

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     (n) As to itself and its Intellectual Property Collateral, except where failure to so
comply would not be reasonably likely to have a Material Adverse Effect:

     (i) The operation of such Grantor’s business as currently conducted or as contemplated
to be conducted and the use of the Intellectual Property Collateral in connection therewith
do not conflict with, infringe, misappropriate, dilute, misuse or otherwise violate the
intellectual property rights of any third party.

     (ii) Such Grantor is the exclusive owner of all right, title and interest in and to the
Intellectual Property Collateral, or has a valid right to use, all Intellectual Property
Collateral.

     (iii) The Intellectual Property Collateral set forth on Schedule III hereto includes
all of the registered US patents, patent applications, domain names, US trademark and
service mark registrations and applications, US copyright registrations and applications and
IP Agreements owned by the Grantors as of the date hereof.

     (iv) To such Grantor’s knowledge, the Intellectual Property Collateral is subsisting
and has not been adjudged invalid or unenforceable in whole or part and is valid and
enforceable. Such Grantor is not aware of any uses of any item of Intellectual Property
Collateral that could be expected to lead to such item becoming invalid or unenforceable.

     (v) Such Grantor has made or performed all filings, recordings and other acts and has
paid all required fees and taxes to maintain and protect its interest in the Intellectual
Property Collateral in full force and effect in the United States, and to protect and
maintain its interest therein including, without limitation, recordations of any of its
interests in the Patents and Trademarks with the U.S. Patent and Trademark Office and
recordation of any of its interests in the Copyrights with the U.S. Copyright Office except
where Grantor has determined in its commercially reasonable business judgment that such
actions would not be commercially reasonable in the circumstances. Such Grantor has used
proper statutory notice in connection with its use of each patent, trademark and copyright
in the Intellectual Property Collateral.

     (vi) To each Grantor’s knowledge, no claim, action, suit, investigation, litigation or
proceeding has been asserted or is pending or threatened in writing against such Grantor (A)
based upon or challenging or seeking to deny or restrict the Grantor’s rights in or use of
any of the Intellectual Property Collateral, (B) alleging that the Grantor’s rights in or
use of the Intellectual Property Collateral or that any services provided by, processes used
by, or products manufactured or sold by, such Grantor infringe, misappropriate, dilute,
misuse or otherwise violate any patent, trademark, copyright or any other proprietary right
of any third party, or (C) alleging that any Intellectual Property Collateral is being
licensed or sublicensed in violation or contravention of the terms of any license or other
agreement. To each Grantor’s knowledge, no Person is engaging in any activity that
infringes, misappropriates, dilutes, misuses or otherwise violates or conflicts with any
Intellectual Property Collateral or the Grantor’s rights in or use thereof. Except as set
forth on Schedule III hereto and for non-exclusive licenses granted in the ordinary course
of business, such Grantor has not granted any license, release, covenant not to sue,
non-assertion assurance, or other right to any Person with respect to any part of the
Intellectual Property Collateral. The consummation of the transactions contemplated by the
Transaction Documents will not result in the termination or impairment of any of the
Intellectual Property Collateral.

     (vii) With respect to each IP Agreement: (A) such IP Agreement is valid and binding
and in full force and effect and represents the entire agreement between the

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respective parties thereto with respect to the subject matter thereof; (B) such IP
Agreement will not cease to be valid and binding and in full force and effect on terms
identical to those currently in effect as a result of the rights and interest granted
herein, nor will the grant of such rights and interest constitute a breach or default under
such IP Agreement or otherwise give any party thereto a right to terminate such IP
Agreement; (C) such Grantor has not received any notice of termination or cancellation under
such IP Agreement; (D) such Grantor has not received any notice of a breach or default under
such IP Agreement, which breach or default has not been cured; (E) such Grantor has not
granted to any other third party any rights, adverse or otherwise, under such IP Agreement;
and (F) neither such Grantor nor any other party to such IP Agreement is in breach or
default thereof in any material respect, and no event has occurred that, with notice or
lapse of time or both, would constitute such a breach or default or permit termination,
modification or acceleration under such IP Agreement.

     (viii) To each Grantor’s knowledge, (A) none of the Trade Secrets of such Grantor has
been used, divulged, disclosed or appropriated to the detriment of such Grantor for the
benefit of any other Person other than such Grantor; (B) no employee, independent contractor
or agent of such Grantor has misappropriated any trade secrets of any other Person in the
course of the performance of his or her duties as an employee, independent contractor or
agent of such Grantor; and (C) no employee, independent contractor or agent of such Grantor
is in default or breach of any term of any employment agreement, non-disclosure agreement,
assignment of inventions agreement or similar agreement or contract relating in any way to
the protection, ownership, development, use or transfer of such Grantor’s Intellectual
Property.

     (ix) Except as set forth on Schedule III hereto, as of the Closing Date, no Grantor or
Intellectual Property Collateral is subject to any outstanding consent, settlement, decree,
order, injunction, judgment or ruling restricting the use of any Intellectual Property
Collateral or that would impair the validity or enforceability of such Intellectual Property
Collateral.

     (o) Such Grantor has no commercial tort claims other than those listed in Schedule IV
hereto and additional commercial tort claims as to which such Grantor has complied with the
requirements of Section 16.

          Section 9. Further Assurances.

     (a) Each Grantor agrees that from time to time, at the expense of such Grantor and
subject to the Intercreditor Agreement, such Grantor will promptly execute and deliver, or
otherwise authenticate, all further instruments and documents, and take all further action
that may be necessary, or that the Collateral Agent may reasonably request, in order to
perfect and maintain perfection of any pledge or security interest granted or purported to
be granted by such Grantor hereunder or to enable the Collateral Agent to exercise and
enforce its rights and remedies hereunder with respect to any Collateral of such Grantor.
Without limiting the generality of the foregoing, each Grantor will promptly with respect to
Collateral of such Grantor: (i) upon the occurrence and during the continuance of an Event
of Default, and upon the reasonable request of the Collateral Agent, mark conspicuously each
document included in Inventory, each chattel paper included in Receivables, each Related
Contract and, at the reasonable request of the Collateral Agent, each of its records
pertaining to such Collateral with a legend, in form and substance reasonably satisfactory
to the Collateral Agent, indicating that such document, chattel paper, Related Contract or
Collateral is subject to the security interest granted hereby; (ii) if any such Collateral
shall be evidenced by a promissory note or other instrument or

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chattel paper, deliver and pledge to the Collateral Agent hereunder such note or
instrument or chattel paper duly endorsed and accompanied by duly executed instruments of
transfer or assignment, all in form and substance reasonably satisfactory to the Collateral
Agent; (iii) execute or authenticate and file, or authorize the Collateral Agent to file,
such financing or continuation statements, or amendments thereto and such other instruments
or notices, as may be necessary, or as the Collateral Agent may reasonably request, in order
to perfect and preserve the security interest granted or purported to be granted by such
Grantor hereunder; (iv) at the request of the Collateral Agent, deliver to the Collateral
Agent for benefit of the Secured Parties certificates representing Pledged Collateral that
constitutes certificated securities, accompanied by undated stock or bond powers executed in
blank; (v) take all action reasonably necessary to ensure that the Collateral Agent has
control of Collateral consisting of deposit accounts, electronic chattel paper, investment
property and letter of credit rights as provided in Sections 9-104, 9-105, 9-106 and 9-107
of the UCC to the extent required hereunder; (vi) at the request of the Collateral Agent,
take all necessary action to ensure that the Collateral Agent’s security interest is noted
on any certificate of ownership related to any Collateral evidenced by a certificate of
ownership; (vii) promptly upon request of the Collateral Agent, cause the Collateral Agent
to be the beneficiary under all letters of credit with a face amount in excess of $1,000,000
that constitute Collateral, with the exclusive right to make all draws under such letters of
credit, and with all rights of a transferee under Section 5-114(e) of the UCC; and (viii)
promptly deliver to the Collateral Agent evidence that all other actions that the Collateral
Agent may deem reasonably necessary in order to perfect and protect the security interest
granted or purported to be granted by such Grantor under this Agreement have been taken.

     (b) Each Grantor hereby authorizes the Collateral Agent to file one or more UCC
financing statements or continuation statements, and amendments thereto, including, without
limitation, one or more financing statements indicating that such financing statements cover
all assets or all personal property (or words of similar effect) of such Grantor, regardless
of whether any particular asset described in such financing statements falls within the
scope of the UCC or the granting clause of this Agreement. A photocopy or other
reproduction of this Agreement shall be sufficient as a financing statement where permitted
by law.

     (c) Each Grantor will furnish to the Collateral Agent from time to time statements and
schedules further identifying and describing the Collateral of such Grantor and such other
reports in connection with such Collateral as the Collateral Agent may reasonably request,
all in reasonable detail.

          Section 10. As to Equipment and Inventory.

          (a) Each Grantor will keep its Equipment and Inventory (other than Inventory sold in the
ordinary course of business or is obsolete, slow-moving, non-conforming or unmerchantable or is
identified as a write-off, overstock or excess by such Grantor or does not otherwise conform to the
representations and warranties contained in the Loan Documents with respect to the Collateral) at
the places therefor specified in Section 7(c) or, in the case of Equipment or Inventory with an
aggregate value in excess of $1,000,000, upon 30 days’ prior written notice to the Collateral
Agent, at such other places designated by such Grantor in such notice.

          (b) Each Grantor will cause its Equipment to be maintained and preserved, and cause each of
its Subsidiaries to maintain and preserve, in good working order and condition, ordinary wear and
tear excepted, except to the extent the failure to do so could reasonably be expected not to have a
Material Adverse Effect.

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          (c) In producing its Inventory, each Grantor will comply with all requirements of applicable
law, including, without limitation, the Fair Labor Standards Act and similar laws affecting such
Grantor, except where failure to so comply would not be reasonably likely to have a Material
Adverse Effect.

          Section 11. Insurance.

     (a) Each Grantor will, at its own expense, maintain insurance with respect to its
Equipment and Inventory in accordance with the requirements of the Credit Agreement. Each
policy of each Grantor for liability insurance shall provide for all losses to be paid on
behalf of the Collateral Agent and such Grantor as their interests may appear. Each such
policy shall in addition (i) name such Grantor and the Collateral Agent as additional
insured parties or loss payees thereunder, as the case may be, (without any representation
or warranty by or obligation upon the Collateral Agent) as their interests may appear, (ii)
contain the agreement by the insurer that any loss thereunder shall be payable to the
Collateral Agent as their interest may appear under the additional insured or loss payee
provision as the case may be notwithstanding any action, inaction or breach of
representation or warranty by such Grantor, (iii) provided that there shall be no recourse
against the Collateral Agent for payment of premiums or other amounts with respect thereto
and (iv) endeavor to provide that at least 10 days’ prior written notice of cancellation or
of lapse shall be given to the Collateral Agent by the insurer otherwise, Grantor shall
provide such notices. If an Event of Default has occurred and is continuing, each Grantor
will, at the request of the Collateral Agent, duly execute and deliver instruments of
assignment of such insurance policies to comply with the requirements of Section 10 and
cause the insurers to acknowledge notice of such assignment.

     (b) Reimbursement under any liability insurance maintained by any Grantor pursuant to
this Section 11 may be paid directly to the Person who shall have incurred liability covered
by such insurance.

     (c) So long as no Event of Default shall have occurred and be continuing, all insurance
payments received by the Collateral Agent in connection with any loss, damage or destruction
of any Inventory or Equipment will be released by the Collateral Agent to the applicable
Grantor. Upon the occurrence and during the continuance of any Event of Default, all
insurance payments in respect of such Equipment or Inventory shall be paid to the Collateral
Agent and shall, in the Collateral Agent’s sole discretion, (i) be released to the
applicable Grantor or (ii) be held as additional Collateral hereunder or applied as
specified in Section 21(b).

          Section 12. Post-Closing Changes; Collections on Receivables and Related Contracts.

     (a) No Grantor will change its name, type of organization, jurisdiction of
organization, organizational identification number or chief executive office from those set
forth in Section 8(a) of this Agreement without first giving at least 30 days’ prior written
notice to the Collateral Agent (or such shorter period of time as agreed to by the
Collateral Agent) and each Grantor will take all action reasonably required by the
Collateral Agent in connection therewith for the purpose of perfecting or protecting the
security interest granted by this Agreement.

     (b) Each Grantor, at the Collateral Agent’s direction upon the occurrence and during
the continuance of an Event of Default, will take such action as such Grantor or the
Collateral Agent may deem reasonably necessary or advisable to enforce collection of the
Receivables and Related Contracts of such Grantor; provided, however, that the Collateral
Agent shall have the right at any time, upon the occurrence and during the continuance of an
Event of Default and

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upon written notice to such Grantor of its intention to do so, to notify each Obligor
under any Receivables and Related Contracts of the assignment of such Receivables and
Related Contracts to the Collateral Agent and to direct such Obligors to make payment of all
amounts due or to become due to such Grantor thereunder directly to the Collateral Agent
and, upon such notification and at the expense of such Grantor, to enforce collection of any
such Receivables and Related Contracts, to adjust, settle or compromise the amount or
payment thereof, in the same manner and to the same extent as such Grantor might have done,
and to otherwise exercise all rights with respect to such Receivables and Related Contracts,
including, without limitation, those set forth set forth in Section 9-607 of the UCC. After
receipt by any Grantor of the notice from the Collateral Agent referred to in the proviso to
the preceding sentence upon the occurrence and during the continuance of an Event of
Default, subject to the Intercreditor Agreement (i) all amounts and proceeds (including,
without limitation, instruments) received by such Grantor in respect of the Receivables and
Related Contracts of such Grantor shall be deemed to be received in trust for the benefit of
the Collateral Agent hereunder, shall be segregated from other funds of such Grantor and
shall be forthwith paid over to the Collateral Agent in the same form as so received (with
any necessary indorsement) to be deposited in a Pledged Deposit Account to be designated by
Collateral Agent and either (A) released to such Grantor on the terms set forth in Section 7
if such Event of Default has been cured or waived or (B) if any Event of Default shall have
occurred and be continuing, applied as provided in Section 21(b) and (ii) such Grantor will
not adjust, settle or compromise the amount or payment of any Receivable or amount due on
any Related Contract, release wholly or partly any Obligor thereof or allow any credit or
discount thereon. No Grantor will permit or consent to the subordination of its right to
payment under any of the Receivables and Related Contracts to any other indebtedness or
obligations of the Obligor thereof.

     (c) The Collateral Agent shall have the right to make test verification of the
Receivables (other than Receivables that any Loan Party is required to maintain as
“classified”) in any manner and through any medium that it considers advisable in its
reasonable discretion, and each Grantor agrees to furnish all such assistance and
information as the Collateral Agent may reasonably require in connection therewith.

          Section 13. As to Intellectual Property Collateral.

     (a) With respect to each item of Intellectual Property Collateral and until termination
of this Agreement in accordance with its terms, each Grantor agrees to take, at its
expense, all necessary steps in accordance with the exercise of such Grantor’s commercially
reasonable business judgment in such Grantor’s ordinary course of business, including,
without limitation, in the U.S. Patent and Trademark Office, the U.S. Copyright Office and
any other applicable governmental authority, to (i) maintain the validity and enforceability
of such Intellectual Property Collateral and maintain such Intellectual Property Collateral
in full force and effect, and (ii) pursue the registration and maintenance of each patent,
trademark, or copyright registration or application, now or hereafter included in such
Intellectual Property Collateral of such Grantor, including, without limitation, the payment
of required fees and taxes, the filing of responses to office actions issued by the U.S.
Patent and Trademark Office, the U.S. Copyright Office or other governmental authorities,
the filing of applications for renewal or extension, the filing of affidavits under Sections
8 and 15 of the U.S. Trademark Act, the filing of divisional, continuation,
continuation-in-part, reissue and renewal applications or extensions, the payment of
maintenance fees and the participation in interference, reexamination, opposition,
cancellation, infringement and misappropriation proceedings, as applicable. No Grantor
shall, without the written consent of the Collateral Agent, abandon any Intellectual
Property Collateral that is material to the use and operations of the Collateral or to the
business, results of operations, or

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financial condition of such Grantor (each such Intellectual Property Collateral a
“Material Intellectual Property Collateral”), discontinue use of any Trademark included in
the Material Intellectual Property Collateral or abandon any right to file an application
for patent, trademark, or copyright unless such Grantor shall have previously determined, in
its reasonable business judgment, that such use or the pursuit or maintenance of such
Material Intellectual Property Collateral is no longer desirable in the conduct of such
Grantor’s business and that the loss thereof, either individually or in the aggregate, would
not be reasonably likely to have a Material Adverse Effect, in which case, such Grantor will
give prompt notice of any such abandonment to the Collateral Agent.

     (b) Each Grantor agrees promptly to notify the Collateral Agent if such Grantor becomes
aware (i) that any item of the Material Intellectual Property Collateral has become
abandoned, placed in the public domain, invalid or unenforceable (other than as a result of
the expiration of the statutory term for such Material Intellectual Property Collateral), or
of any adverse determination or development regarding such Grantor’s ownership of any of the
Material Intellectual Property Collateral or its right to register the same or to keep and
maintain and enforce the same to the extent the happening of such an event would reasonably
be expected to materially and adversely affect the value or utility of the Intellectual
Property Collateral, or (ii) of any adverse determination (including, without limitation,
the institution of any proceeding in the U.S. Patent and Trademark Office or any court)
regarding any item of the Material Intellectual Property Collateral.

     (c) In the event that any Grantor becomes aware that any item of Intellectual Property
Collateral is being infringed or misappropriated by a third party, such Grantor shall
promptly notify the Collateral Agent and shall take commercially reasonable actions (unless
failure to take such actions would not reasonably be expected to have a Material Adverse
Effect), at its expense, to protect or enforce such Intellectual Property Collateral,
including, without limitation, as Grantor or the Collateral Agent deems necessary or
desirable in its reasonable business discretion, suing for infringement or misappropriation
and for an injunction against such infringement or misappropriation.

     (d) Each Grantor shall take commercially reasonable actions to use proper statutory
notice in connection with its use of each item of Material Intellectual Property Collateral
owned by such Grantor as reasonably necessary to maintain such Grantor’s rights therein. No
Grantor shall do or permit any act or knowingly omit to do any act whereby any of its
Material Intellectual Property Collateral may lapse or become invalid or unenforceable or
placed in the public domain.

     (e) Each Grantor shall take commercially reasonable actions which it or the Collateral
Agent deems reasonable and appropriate under the circumstances to preserve and protect each
item of its Material Intellectual Property Collateral, consistent in all material respects
with the quality of the products or services as of the date hereof, and taking all steps
reasonably necessary to ensure that all licensed users of any of the Trademarks use such
consistent standards of quality.

     (f) With respect to the Intellectual Property Collateral, each Grantor agrees to
execute or otherwise authenticate an agreement, in substantially the form set forth in
Exhibit B hereto or otherwise in form and substance reasonably satisfactory to the
Borrower and Collateral Agent (an “Intellectual Property Revolving Facility Security
Agreement”), for recording the security interest granted hereunder to the Collateral Agent
in such Intellectual Property Collateral with the U.S. Patent and Trademark Office, the U.S.
Copyright Office and any other

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governmental authorities necessary to perfect the security interest hereunder in such
Intellectual Property Collateral.

     (g) Each Grantor agrees that, should it obtain an ownership interest in or license to
any item of the type set forth in Section 1(f) that is not on the Closing Date a part of the
Intellectual Property Collateral, but otherwise would be part of the Intellectual Property
Collateral if such Grantor had an ownership interest in or license to such item on the
Closing Date (“After-Acquired Intellectual Property”) (i) the provisions of this Agreement
shall automatically apply thereto, and (ii) any such After-Acquired Intellectual Property
and, in the case of Trademarks, the goodwill symbolized thereby, shall automatically become
part of the Intellectual Property Collateral subject to the terms and conditions of this
Agreement with respect thereto (provided that no security interest shall be granted in
United States intent-to-use trademark applications to the extent that, and solely during the
period in which, the grant of a security interest therein would impair the validity or
enforceability, or result in the cancellation, of such intent-to-use trademark applications
under applicable federal law). Each Grantor shall give written notice to the Collateral
Agent identifying any patents, patent applications, trademark and service mark
registrations, trademark and service mark applications, copyright registrations, and
copyright applications that are part of the After-Acquired Intellectual Property, and, such
Grantor shall execute and deliver to the Collateral Agent with such written notice, or
otherwise authenticate, an agreement substantially in the form of Exhibit C hereto
or otherwise in form and substance reasonably satisfactory to and requested by the
Collateral Agent (an “IP Revolving Facility Security Agreement Supplement”) covering such
After-Acquired Intellectual Property for recording the security interest granted hereunder
to the Collateral Agent in such After-Acquired Intellectual Property, which IP Security
Agreement Supplement shall be recorded with the U.S. Patent and Trademark Office, the U.S.
Copyright Office and any other governmental authorities necessary to perfect the security
interest hereunder in such After-Acquired Intellectual Property, to the extent perfection
may be achieved by making such recordings. Notwithstanding any of the foregoing, each
Grantor shall have no obligation to file any such instruments or statements for such
After-Acquired Intellectual Property outside of the United States under this Section 13(g).

          Section 14. Voting Rights; Dividends; Etc.

     (a) So long as no Event of Default shall have occurred and be continuing:

     (i) Each Grantor shall be entitled to exercise any and all voting and other
consensual rights pertaining to the Security Collateral of such Grantor or any part
thereof for any purpose; provided, however, that no vote shall be cast, consent
given or right exercised or other action taken by such Grantor which would impair
the Pledged Collateral or which would be inconsistent in any material respect with
or result in any violation of any provision of this Agreement or any other Loan
Document or, without prior notice to the Collateral Agent, to enable or take any
other action to permit any issuer of Pledged Equity to issue any stock or other
equity securities of any nature or to issue any other securities convertible into or
granting the right to purchase or exchange for any stock or other equity securities
of any nature of any issuer of Pledged Equity other than issuances, transfers and
grants to a Grantor .

     (ii) Each Grantor shall be entitled to receive and retain any and all
dividends, cash, options, warrants, rights, instruments, distributions, returns of
capital or principal, income, interest, profits and other property, interests (debt
or equity) or proceeds, including as a result of a split, revision, reclassification
or other like change of the Security Collateral, from time to time received,
receivable or otherwise distributed to

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such Grantor in respect of or in exchange for any or all of the Security
Collateral (any of the foregoing, a “Distribution” and collectively the
“Distributions”) paid in respect of the Security Collateral of such Grantor to the
extent that the payment thereof is not otherwise prohibited by the terms of the Loan
Documents; provided, however, that any and all Distributions paid or payable other
than in cash (other than in connection with a partial or total liquidation or
dissolution or in connection with a reduction of capital, capital surplus or
paid-in-surplus) in respect of, and instruments and other property received,
receivable or otherwise distributed in respect of, or in exchange for, any Security
Collateral, shall, except to the extent constituting Excluded Assets, be, and,
subject to the limitations in the definition of “Collateral” shall be promptly
delivered to the Collateral Agent to hold as, Security Collateral and shall, if
received by such Grantor, be received in trust for the benefit of the Collateral
Agent, be segregated from the other property or funds of such Grantor and be
promptly delivered to the Collateral Agent as Security Collateral in the same form
as so received (with any necessary indorsement).

     (iii) The Collateral Agent shall be deemed without further action or formality
to have granted to each Grantor all necessary consents relating to voting rights and
shall, if necessary, upon written request of any Grantor, from time to time execute
and deliver (or cause to be executed and delivered) to such Grantor all such
instruments as such Grantor may reasonably request for the purpose of enabling such
Grantor to exercise the voting and other rights that it is entitled to exercise
pursuant to paragraph (i) above and to receive the Distributions that it is
authorized to receive and retain pursuant to paragraph (ii) above.

     (b) Upon the occurrence and during the continuance of an Event of Default:

     (i) All rights of each Grantor (x) to exercise or refrain from exercising the
voting and other consensual rights that it would otherwise be entitled to exercise
pursuant to Section 14(a)(i) shall, upon written notice to such Grantor by the
Collateral Agent, cease and (y) to receive Distributions that it would otherwise be
authorized to receive and retain pursuant to Section 14(a)(ii) shall automatically
cease, and all such rights shall thereupon become vested in the Collateral Agent,
which shall thereupon have the sole right to exercise or refrain from exercising
such voting and other consensual rights and to receive and hold as Security
Collateral such dividends, interest and other distributions.

     (ii) All Distributions that are received by any Grantor contrary to the
provisions of paragraph (i) of this Section 14(b) shall be received in trust for the
benefit of the Collateral Agent, shall be segregated from other funds of such
Grantor and shall be promptly paid over to the Collateral Agent as Security
Collateral in the same form as so received (with any necessary indorsement).

     (iii) Promptly following the cure (but not a partial cure) or waiver of such
Event of Default, the Collateral Agent shall return to each Grantor all cash and
funds that the Collateral Agent has received pursuant to subsection (ii) of this
clause (b) and that such Grantor is entitled to retain pursuant to Section 14(a)(ii)
if such cash or funds have not been applied to repayment of the Secured Obligations.

     (c) Each Grantor shall not grant control over any investment property to any Person
other than the Collateral Agent, except to the extent permitted pursuant to this Agreement.

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           Section 15. As to Letter-of-Credit Rights.

          (a) Each Grantor, by granting a security interest in its Receivables consisting of
letter-of-credit rights to the Collateral Agent, intends to (and hereby does) assign to the
Collateral Agent its rights (including its contingent rights) to the proceeds of all Related
Contracts consisting of letters of credit of which it is or hereafter becomes a beneficiary or
assignee. Upon the occurrence and during the continuance of an Event of Default, each Grantor will
promptly use commercially reasonable efforts to cause the issuer of each letter of credit with a
face amount in excess of $1,000,000 and each nominated person (if any) with respect thereto to
consent to such Grantor’s assignment of the proceeds thereof pursuant to a consent in form and
substance reasonably satisfactory to the Collateral Agent and deliver written evidence of such
consent to the Collateral Agent.

          (b) Upon the occurrence and during the continuance of an Event of Default, each Grantor will,
promptly upon written request by the Collateral Agent, (i) notify (and such Grantor hereby
authorizes the Collateral Agent to notify) the issuer and each nominated person with respect to
each of the Related Contracts consisting of letters of credit that the proceeds thereof have been
assigned to the Collateral Agent hereunder and any payments due or to become due in respect thereof
are to be made directly to the Collateral Agent or its designee and (ii) arrange for the Collateral
Agent to become the transferee beneficiary of such letters of credit.

          Section 16. Commercial Tort Claims. Each Grantor will promptly give notice to the Collateral
Agent of any commercial tort claim that may arise after the Closing Date involving a claim or
controversy in excess of $1,000,000 and will immediately execute or otherwise authenticate a
supplement to this Agreement, and otherwise take all action reasonably necessary to subject such
commercial tort claim to the security interest created under this Agreement.

          Section 17. Transfer and Other Liens; Additional Shares. Each Grantor agrees that it will (a)
cause each issuer which is a Loan Party of the Pledged Equity pledged by such Grantor not to issue
any Equity Interests or other securities in addition to or in substitution for the Pledged Equity
issued by such issuer, except to such Grantor or except as permitted by the Credit Agreement, and
(b) pledge hereunder, immediately upon its acquisition (directly or indirectly) thereof, any and
all additional Equity Interests or other securities except to the extent constituting Excluded
Equity Interests.

          Section 18. Collateral Agent Appointed Attorney-in-Fact. Each Grantor hereby irrevocably appoints
the Collateral Agent such Grantor’s attorney-in-fact (such appointment to cease upon the payment in
full in cash of all the Secured Obligations), with full authority in the place and stead of such
Grantor and in the name of such Grantor or otherwise, from time to time, upon the occurrence and
during the continuance of an Event of Default, in the Collateral Agent’s reasonable discretion, to
take any action and to execute any instrument that the Collateral Agent may deem necessary to
accomplish the purposes of this Agreement, including, without limitation:

     (a) to obtain and adjust insurance required to be paid to the Collateral Agent pursuant
to Section 11,

     (b) to ask for, demand, collect, sue for, recover, compromise, receive and give
acquittance and receipts for moneys due and to become due under or in respect of any of the
Collateral,

     (c) to receive, indorse and collect any drafts or other instruments, documents and
chattel paper, in connection with clause (a) or (b) above, and

     (d) to file any claims or take any action or institute any proceedings that the
Collateral Agent may deem necessary for the collection of any of the Collateral or otherwise
to

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enforce compliance with the terms and conditions of the rights of the Collateral Agent
with respect to any of the Collateral.

          Section 19. Collateral Agent May Perform. Upon the occurrence and during the continuance of an
Event of Default, if any Grantor fails to perform any agreement contained herein, the Collateral
Agent may, but without any obligation to do so and without notice, itself perform, or cause
performance of, such agreement, and the expenses of the Collateral Agent incurred in connection
therewith shall be payable by such Grantor under Section 21.

          Section 20. The Collateral Agent’s Duties.

     (a) The powers conferred on the Collateral Agent hereunder are solely to protect the
Secured Parties’ interest in the Collateral and shall not impose any duty upon it to
exercise any such powers. Except for the exercise of reasonable care in the safe custody of
any Collateral in its possession or in the possession of an Affiliate of the Collateral
Agent or any designee (including without limitation, a Subagent) of the Collateral Agent
acting on its behalf and the accounting for moneys actually received by it or its Affiliates
hereunder, the Collateral Agent shall have no duty as to any Collateral, as to ascertaining
or taking action with respect to calls, conversions, exchanges, maturities, tenders or other
matters relative to any Collateral, whether or not any Secured Party has or is deemed to
have knowledge of such matters, or as to the taking of any necessary steps to preserve
rights against any parties or any other rights pertaining to any Collateral. The Collateral
Agent and any of its Affiliates or any designee (including without limitation, a Subagent)
on its behalf shall be deemed to have exercised reasonable care in the custody and
preservation of any Collateral in its possession or in the possession of an Affiliate or any
designee (including without limitation, a Subagent) on its behalf if such Collateral is
accorded treatment substantially equal to that which it accords its own property.

     (b) Anything contained herein to the contrary notwithstanding, the Collateral Agent may
from time to time, when the Collateral Agent deems it to be necessary, appoint one or more
subagents (each, a “Subagent”) for the Collateral Agent hereunder with respect to all or any
part of the Collateral. In the event that the Collateral Agent so appoints any Subagent
with respect to any Collateral, (i) the assignment and pledge of such Collateral and the
security interest granted in such Collateral by each Grantor hereunder shall be deemed for
purposes of this Security Agreement to have been made to such Subagent, in addition to the
Collateral Agent, for the ratable benefit of the Secured Parties, as security for the
Secured Obligations of such Grantor, (ii) such Subagent shall automatically be vested, in
addition to the Collateral Agent, with all rights, powers, privileges, interests and
remedies of the Collateral Agent hereunder and pursuant to the terms hereof, with respect to
such Collateral, and (iii) the term “Collateral Agent,” when used herein in relation to any
rights, powers, privileges, interests and remedies of the Collateral Agent with respect to
such Collateral, shall include such Subagent; provided, however, that no such Subagent shall
be authorized to take any action with respect to any such Collateral unless and except to
the extent expressly authorized in writing by the Collateral Agent.

          Section 21. Remedies. If any Event of Default shall have occurred and be continuing:

     (a) The Collateral Agent may exercise in respect of the Collateral,
in addition to other rights and remedies provided for herein or otherwise
available to it, all the rights and remedies of a secured party upon default
under the UCC (whether or not the UCC applies to the affected Collateral) and
also may: (i) require each Grantor to, and each Grantor hereby agrees that it
will at its expense and upon request of the Collateral
Agent forthwith, assemble all or part of the Collateral as directed
by the Collateral Agent and make it available to the Collateral Agent

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at a place and time to be designated by the Collateral Agent that is reasonably
convenient to both parties; (ii) without notice except as specified below, sell the
Collateral or any part thereof in one or more parcels at public or private sale, at any of
the Collateral Agent’s offices or elsewhere, for cash, on credit or for future delivery, and
upon such other terms as the Collateral Agent may deem commercially reasonable; (iii) to the
extent permitted under such Grantor’s lease, occupy any premises where the Collateral or any
part thereof is assembled or located for a reasonable period in order to effectuate its
rights and remedies hereunder or under law, without obligation to such Grantor in respect of
such occupation; and (iv) exercise any and all rights and remedies of any of the Grantors
under or in connection with the Collateral, or otherwise in respect of the Collateral,
including, without limitation, (A) any and all rights of such Grantor to demand or otherwise
require payment of any amount under, or performance of any provision of, the Receivables,
the Related Contracts and the other Collateral, (B) withdraw, or cause or direct the
withdrawal, of all funds with respect to the Account Collateral and (C) exercise all other
rights and remedies with respect to the Receivables, the Related Contracts and the other
Collateral, including, without limitation, those set forth in Section 9-607 of the UCC.
Each Grantor agrees that, to the extent notice of sale shall be required by law, at least
ten days’ notice to such Grantor 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
Collateral Agent shall not be obligated to make any sale of Collateral regardless of notice
of sale having been given. The Collateral 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.

     (b) Any cash held by or on behalf of the Collateral Agent and all cash proceeds
received by or on behalf of the Collateral Agent in respect of any sale of, collection from,
or other realization upon all or any part of the Collateral may, in the discretion of the
Collateral Agent, be held by the Collateral Agent as collateral for, and/or then or at any
time thereafter applied (after payment of any amounts payable to the Collateral Agent
pursuant to Section 21) in whole or in part by the Collateral Agent for the ratable benefit
of the Secured Parties against, all or any part of the Secured Obligations, subject to the
Intercreditor Agreement, in the following manner:

     (i) first, paid ratably to each Agent for any amounts then owing to
such Agent pursuant to Section 10.04 of the Credit Agreement or otherwise under the
Loan Documents; and

     (ii) second, ratably paid to the Lenders for any amounts then owing to
them, in their capacities as such, in respect of the Obligations under the Revolving
Facility ratably in accordance with such respective amounts then owing to such
Lenders, (2) paid to each Lender Party (or its applicable Affiliate) for any amounts
then owing to such Lender Party (or such Affiliate) in respect of Secured Credit
Card Obligations in an aggregate amount for all such obligations not to exceed
$25,000,000, (3) paid to each Lender Party (or its applicable Affiliate) for any
amounts then owing to such Lender Party (or such Affiliate) in respect of Secured
Hedge Agreements in an aggregate amount for all such obligations not to exceed the
sum of $100,000,000 plus the unused amount, if any, under the foregoing clause (2)
and Cash Management Obligations in an aggregate amount for all such obligations not
to exceed the sum of $25,000,000 and (4) deposited
as Collateral in the L/C Cash Collateral Account up to an amount equal to 105%
of the aggregate Available Amount of all outstanding Letters of Credit, provided
that in the event that any such Letter of Credit is drawn, the Collateral Agent
shall pay to the Issuing Bank that issued such Letter of Credit the amount held in
the L/C Cash Collateral Account in respect of such Letter of Credit, provided
further that, to the extent that any

Dana — Revolving Facility Security Agreement

 

 

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such Letter of Credit shall expire or terminate
undrawn and as a result thereof the amount of the Collateral in the L/C Cash
Collateral Account shall exceed 105% of the aggregate Available Amount of all then
outstanding Letters of Credit, such excess amount of such Collateral shall be
applied in accordance with the remaining order of priority set out in this Section
21.

     (iii) third, ratably to each Lender Party (or its applicable
Affiliate) for any amounts then owing to such Lender Party (or such Affiliate), to
the extent not included in clause (ii) above, in respect of all remaining Cash
Management Obligations, obligations under Secured Hedge Agreements and Secured
Credit Card Obligations.

     (c) Any surplus of such cash or cash proceeds held by or on the behalf of the
Collateral Agent and remaining after payment in full of all the Secured Obligations shall be
distributed pursuant to Section 3.2 of the Intercreditor Agreement.

     (d) All payments received by any Grantor under or in connection with the Collateral
shall be received in trust for the benefit of the Collateral Agent, shall be segregated from
other funds of such Grantor and shall be forthwith paid over to the Collateral Agent in the
same form as so received (with any necessary indorsement).

     (e) The Collateral Agent may, without notice to any Grantor except as required by law
and at any time or from time to time, charge, set-off and otherwise apply all or any part of
the Secured Obligations against any funds held with respect to the Account Collateral or in
any other deposit account.

     (f) The Collateral Agent may send to each bank, securities intermediary or issuer party
to any Deposit Account Control Agreement, Securities Account Control Agreement or
Uncertificated Security Control Agreement a “Notice of Exclusive Control” as may be defined
in and under such Agreement.

     (g) In the event of any sale or other disposition of any of the Intellectual Property
Collateral of any Grantor, the goodwill symbolized by any Trademarks subject to such sale or
other disposition shall be included therein, and such Grantor shall supply to the Collateral
Agent or its designee such Grantor’s know-how and expertise, and documents and things
relating to any Intellectual Property Collateral subject to such sale or other disposition,
and such Grantor’s customer lists and other records and documents relating to such
Intellectual Property Collateral and to the manufacture, distribution, advertising and sale
of products and services of such Grantor.

     (h) The Collateral Agent is authorized, in connection with any sale of the Security
Collateral pursuant to this Section 21, to deliver or otherwise disclose to any prospective
purchaser of the Security Collateral any information in its possession relating to such
Security Collateral.

          Section 22. Maintenance of Records. Each Grantor will keep and maintain, at its own cost and
expense, satisfactory and complete records of the Collateral, in all material respects, including,
without limitation, a record of all payments received and all credits granted with respect to
the Collateral and all other material dealings concerning the Collateral. For the Collateral
Agent’s further security, each Grantor agrees that the Collateral Agent shall have a property
interest in all of such Grantor’s books and records pertaining to the Collateral and, upon the
occurrence and during the continuation of an Event of

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Default, such Grantor shall deliver and turn
over any such books and records to the Collateral Agent or to its representatives at any time on
demand of the Collateral Agent.

          Section 23. Indemnity and Expenses.

     (a) Each Grantor severally agrees (to the extent not promptly reimbursed by the
Borrower) to indemnify, defend and save and hold harmless each Secured Party and each of
their Affiliates and their respective officers, directors, employees, agents and advisors
(each, an “Indemnified Party”), pro rata, from and against, and shall pay on demand, any and
all claims, damages, losses, liabilities and expenses (including, without limitation,
reasonable fees and expenses of counsel) that may be incurred by or asserted or awarded
against any Indemnified Party, in each case arising out of or in connection with or by
reason of (including, without limitation, in connection with any investigation, litigation
or proceedings or preparation of a defense in connection therewith) this Agreement, except
to the extent such claim, damage, loss, liability or expense is found in a final,
non-appealable judgment by a court of competent jurisdiction to have resulted from such
Indemnified Party’s own gross negligence or willful misconduct of its affiliates, directors,
officers, employees, advisors or agents. In the case of an investigation, litigation or
other proceeding to which the indemnity in this Section 23(a) applies, such indemnity shall
be effective whether or not such investigation, litigation or proceeding is brought by any
Grantor, its directors, shareholders or creditors or any Indemnified Party or any other
Person, whether or not any Indemnified Party is otherwise a party thereto and whether or not
the Transaction is consummated. The Grantors also agree not to assert any claim against the
Collateral Agent, any Secured Party or any of their Affiliates, or any of their respective
officers, directors, employees, agents and advisors, on any theory of liability, for
special, indirect, consequential or punitive damages arising out of or otherwise relating to
the this Agreement.

     (b) Each Grantor agrees to pay (to the extent not promptly reimbursed by the Borrower)
within 30 days of demand (i) all reasonable, documented out-of-pocket costs and expenses of
the Collateral Agent in connection with the preparation, execution, delivery,
administration, modification and amendment of, any consent or waiver under, or legal advice
in respect of rights or responsibilities under, this Agreement and (ii) all reasonable,
documented and out-of-pocket costs and expenses of the Collateral Agent in connection with
the enforcement of (whether through negotiations, legal proceedings or otherwise) the
Agreement.

          Section 24. Limitations on Liens on Collateral. Each Grantor will not create, permit or suffer to
exist, and will defend the Collateral against and take such other action as is necessary to remove,
any Lien on the Collateral except Liens permitted under Section 5.02(a) of the Credit Agreement and
will defend the right, title and interest of the Collateral Agent in and to all of such Grantor’s
rights under the Collateral against the claims and demands of all Persons whomsoever other than
claims or demands arising out of Liens permitted under Section 5.02(a) of the Credit Agreement.

          Section 25. Amendments; Waivers; Additional Grantors; Etc.

     (a) No amendment or waiver of any provision of this Agreement, and no consent to any
departure by any Grantor herefrom, shall in any event be effective unless the same shall be
in writing and signed by each Grantor and the Collateral Agent, and then such waiver or
consent (which consent shall not be unreasonably withheld, delayed or conditioned) shall be
effective
only in the specific instance and for the specific purpose for which given. No failure
on the part of the Collateral Agent or any other Secured Party 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 such right preclude any other or further exercise thereof or the
exercise of any other right.

Dana — Revolving Facility Security Agreement

 

 

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     (b) Upon the execution and delivery by any Person of a security agreement supplement in
substantially the form of Exhibit A hereto (each a “Revolving Facility Security
Agreement Supplement”), such Person shall be referred to as an “Additional Grantor” and
shall be and become a Grantor hereunder, and each reference in this Agreement and the other
Loan Documents to “Grantor” shall also mean and be a reference to such Additional Grantor,
each reference in this Agreement and the other Loan Documents to the “Collateral” shall also
mean and be a reference to the Collateral granted by such Additional Grantor and each
reference in this Agreement to a Schedule shall also mean and be a reference to the
schedules attached to such Security Agreement Supplement.

          Section 26. Notices, Etc. All notices and other communications provided for hereunder shall be in
writing (including telecopier or other electronic transmission) and mailed, telecopied or otherwise
delivered, in accordance with the Credit Agreement, or, as to any party, at such other address as
shall be designated by such party in a written notice to the other parties.

          Section 27. Continuing Security Interest; Assignments Under the Credit Agreement. This Agreement
shall create a continuing security interest in the Collateral and shall (a) remain in full force
and effect until the latest of (i) the payment in full in cash of the Secured Obligations and (ii)
the Termination Date, (b) be binding upon each Grantor, its successors and assigns and (c) inure,
together with the rights and remedies of the Collateral Agent hereunder, to the benefit of the
Secured Parties and their respective successors, transferees and permitted assigns. Without
limiting the generality of the foregoing clause (c), subject to Section 10.07 of the Credit
Agreement, any Lender Party may assign or otherwise transfer all or any portion of its rights and
obligations under the Credit Agreement (including, without limitation, all or any portion of its
Commitments, the Advances owing to it and the Note or Notes, if any, held by it) to any Eligible
Assignee, and such Eligible Assignee shall thereupon become vested with all the benefits in respect
thereof granted to such Lender Party herein or otherwise, in each case as provided in Section 10.07
of the Credit Agreement.

          Section 28. Release; Termination.

     (a) Upon any sale, lease, transfer or other disposition of any item of Collateral of
any Grantor in accordance with the terms of the Loan Documents, the Collateral Agent will,
at such Grantor’s expense, execute and deliver to such Grantor such documents as such
Grantor shall reasonably request to evidence the release of such item of Collateral from the
assignment and security interest granted hereby; provided, however, that, except as
permitted under Section 5.02(g) of the Credit Agreement, (i) at the time of such request and
such release no Event of Default shall have occurred and be continuing, (ii) such Grantor
shall have delivered to the Collateral Agent, at least three (3) Business Days prior to the
date of the proposed release, a written request for release in reasonable detail describing
the item of Collateral, together with a form of release for execution by the Collateral
Agent and a certificate of such Grantor to the effect that the transaction is in compliance
with the Loan Documents; (iii) the proceeds of any such sale, lease, transfer or other
disposition required to be applied, or any payment to be made in connection therewith, in
accordance with Section 2.06 of the Credit Agreement shall, to the extent so required, be
paid or made to, or in accordance with the instructions of, the Collateral Agent when and as
required under Section 2.06 of the Credit Agreement, and (iv) in the case of Collateral sold
or disposed of, the release of a Lien created hereby will not be effective until the
receipt by the Collateral Agent of the Net Cash Proceeds arising from the sale or
disposition of such Collateral.

     (b) Upon the latest of (i) the payment in full in cash of the Secured Obligations
(other than contingent indemnification obligations which are not then due and payable), (ii)
the

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Termination Date and (iii) the termination or expiration of all Letters of Credit, the
pledge and security interest granted hereby shall terminate and all rights to the Collateral
shall revert to the applicable Grantor. Upon any such termination, the Collateral Agent
will, at the applicable Grantor’s expense, approve, execute, assign, transfer and/or deliver
to such Grantor such documents and instruments (including, but not limited to UCC
termination financing statements or releases) as such Grantor shall reasonably request to
evidence such termination.

          Section 29. Certain Provisions in Respect of Mexican Inventory. (a) For purposes of perfecting
the first priority Lien and security interest on any Collateral held from time to time by any
Mexican Depository in connection with the manufacture in Mexico of finished products by such
Mexican Depository (the “Mexican Collateral”), each Grantor hereby pledges to the Collateral Agent,
for itself and for the ratable benefit of the Secured Parties, as security for the full and prompt
payment when due (whether at stated maturity, by acceleration or otherwise) of the Secured
Obligations, the Mexican Collateral in accordance with paragraph IV of Article 334 of the Mexican
General Law of Negotiable Instruments and Credit Transactions (Ley General de Títulos y Operaciones
de Crédito).

     (b) Each Grantor and the Collateral Agent hereby appoints each Mexican Depository as
depository of the Mexican Collateral. The parties hereto agree that each Mexican Depository
may from time to time in the ordinary course of business receive and maintain possession of
the Mexican Collateral for the purpose of manufacturing finished products for sale by such
Grantor and shall act as depository for the benefit of the Collateral Agent, on behalf of
itself and the Secured Parties, with respect to such Mexican Collateral, which shall at all
times remain subject to the first priority Lien and security interest created hereunder.
Each Grantor acknowledges and agrees that each Mexican Depository shall hold any and all
Mexican Collateral in its control or possession for the benefit of Collateral Agent, on
behalf of itself and the Secured Parties, and that each Mexican Depository shall act upon
the instructions of the Collateral Agent without the further consent of such Grantor. The
Collateral Agent agrees with the Grantors that it shall not give any such instructions
unless an Event of Default has occurred and is continuing or would occur after taking into
account any action by any Grantor with respect to any Mexican Depository.

     (c) If an Event of Default has occurred and is continuing, the Collateral Agent shall
be entitled, without the consent of any Grantor, to remove any Mexican Depository as
depository and appoint a different depository. No Mexican Depository shall be released from
its obligations hereunder, unless a replacement depository has been appointed in accordance
with this Agreement and such replacement depository has assumed the obligations of such
Mexican Depository hereunder, including without limitation, taking physical possession of
the Mexican Collateral and executing the letter referred to in subsection (d) below.

     (d) Upon the request of the Collateral Agent, each Grantor shall deliver to the
Collateral Agent, a letter from each Mexican Depository or any other entity acting as
depository, acceptable to the Collateral Agent in substantially in the form of Exhibit J
hereto.

     For purposes of this Section 29, “Mexican Depository” shall mean each Subsidiary of the
Borrower domiciled in Mexico that is at any time in possession of Inventory owned by any Grantor
and included in the calculation of Eligible Inventory, in each case in its capacity as depository
of the Mexican Collateral, or any successor depository thereof.

          Section 30. 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
taken together shall constitute one and the same agreement. Delivery of an executed counterpart of

Dana — Revolving Facility Security Agreement

 

 

27

a signature page to this Agreement by telecopier or other electronic transmission shall be
effective as delivery of an original executed counterpart of this Agreement.

          Section 31. Governing Law. This Agreement shall be governed by, and construed in accordance with,
the laws of the State of New York.

[Remainder of page intentionally left blank]

Dana — Revolving Facility Security Agreement

 

 

          IN WITNESS WHEREOF, each Grantor has caused this Agreement to be duly executed and delivered
by its officer thereunto duly authorized as of the date first above written.

	 	 	 	 	 
	 	DANA HOLDING CORPORATION, as Borrower

 	 
	 	By:  	/s/
Kenneth A. Hiltz	 
	 	 	Name:  	Kenneth A. Hiltz	 
	 	 	Title:  	Chief Financial Officer	 
	 
	 	 	 
	 	By:  	/s/
Teresa L. Mulawa	 
	 	 	Name:  	Teresa L. Mulawa	 
	 	 	Title:  	Treasurer	 
	 

Dana — Revolving Facility Security Agreement

 

 

	 	 	 	 	 
	 	DANA LIMITED,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin 	 
	 	 	Name:  	Marc S. Levin 	 
	 	 	Title:  	Secretary 	 
	 
	 	DANA AUTOMOTIVE SYSTEMS GROUP, LLC

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Secretary  	 
	 
	 	DANA DRIVESHAFT PRODUCTS, LLC,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Secretary  	 
	 
	 	DANA DRIVESHAFT MANUFACTURING, LLC,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Secretary  	 
	 
	 	DANA LIGHT AXLE PRODUCTS, LLC,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Secretary  	 
	 
	 	DANA LIGHT AXLE MANUFACTURING, LLC,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Secretary  	 
	 
	 	DANA SEALING PRODUCTS, LLC,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Secretary  	 
	 

Dana — Revolving Facility Security Agreement

 

 

	 	 	 	 	 
	 	DANA SEALING MANUFACTURING, LLC,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Secretary  	 
	 
	 	DANA STRUCTURAL PRODUCTS, LLC,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Secretary  	 
	 
	 	DANA STRUCTURAL MANUFACTURING, LLC,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Secretary  	 
	 
	 	DANA THERMAL PRODUCTS, LLC,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Secretary  	 
	 
	 	DANA HEAVY VEHICLE SYSTEMS GROUP, LLC,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Secretary  	 
	 
	 	DANA COMMERCIAL VEHICLE PRODUCTS, LLC,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Secretary  	 
	 
	 	DANA COMMERCIAL VEHICLE MANUFACTURING, LLC,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Secretary  	 
	 

Dana — Revolving Facility Security Agreement

 

 

	 	 	 	 	 
	 	SPICER HEAVY AXLE & BREAK, INC.,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Vice President and Secretary  	 
	 
	 	DANA OFF HIGHWAY PRODUCTS, LLC,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Secretary  	 
	 
	 	DTF TRUCKING, INC.,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Vice President and Secretary  	 
	 
	 	DANA WORLD TRADE CORPORATION,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Vice President and Secretary  	 
	 
	 	DANA AUTOMOTIVE AFTERMARKET, INC.,

as a Grantor

 	 
	 	By:  	/s/
Marc S. Levin  	 
	 	 	Name:  	Marc S. Levin  	 
	 	 	Title:  	Vice President and Secretary  	 
	 
	 	DANA GLOBAL PRODUCTS, INC.,

as a Grantor

 	 
	 	By:  	/s/
Rodney R. Filcek 	 
	 	 	Name:  	Rodney R. Filcek 	 
	 	 	Title:  	President 	 
	 

Dana — Revolving Facility Security Agreement

 

 

	 	 	 	 	 
	 	CITICORP USA, INC., as Collateral Agent

 	 
	 	By:  	/s/
Shane V. Azzara	 
	 	 	Name:  	Shane V. Azzara	 
	 	 	Title:  	Vice President	 
	 

Dana — Revolving Facility Security AgreementEX-10.9

 

Exhibit
10.9

EXECUTION COPY

INTERCREDITOR AGREEMENT

          This INTERCREDITOR AGREEMENT, dated as of January 31, 2008 (as the same may be amended,
amended and restated, supplemented or otherwise modified from time to time by the parties hereto,
this “Agreement”), is entered into among Citicorp USA, Inc. (“CUSA”), as Term Facility
Collateral Agent (as defined below) and as Term Facility Administrative Agent (as defined below),
and CUSA, as Revolving Facility Collateral Agent (as defined below) and as Revolving Facility
Administrative Agent (as defined below), and Dana Holding Corporation, a Delaware corporation (the
“Borrower”), for itself and on behalf of each Guarantor (as defined in the Credit Agreement
referred to below).

PRELIMINARY STATEMENTS:

          Whereas, the Borrower, the Guarantors (as defined below), the lenders party thereto,
CUSA, as administrative agent for the Term Facility Lender Parties (as defined below) (in such
capacity, the “Term Facility Administrative Agent”), and CUSA, as collateral agent for the Term
Facility Secured Parties (as defined below) (the “Term Facility Collateral Agent”), are entering
into a Term Facility Credit and Guaranty Agreement, dated as of the date hereof (as such agreement
may be amended, amended and restated, refinanced, replaced, supplemented or otherwise modified,
from time to time by the parties thereto (whether the same or different lenders and agents), the
“Term Facility Credit Agreement”); and

          Whereas, the Borrower, Guarantors, the lenders party thereto, CUSA, as administrative
agent for the Revolving Facility Lender Parties (as defined below) (in such capacity, the
“Revolving Facility Administrative Agent”), and CUSA, as collateral agent for the Revolving
Facility Secured Parties (as hereinafter defined) (in such capacity, the “Revolving Facility
Collateral Agent”), are entering into a Revolving Credit and Guaranty Agreement, dated as of the
date hereof (as such agreement may be amended, amended and restated, refinanced, replaced,
supplemented or otherwise modified from time to time by the parties thereto (whether the same or
different lenders and agents), the “Revolving Facility Credit Agreement” and, together with the
Term Facility Credit Agreement, the “Credit Agreements” and each a “Credit Agreement”); and

          Whereas, it is a condition to the effectiveness of each Credit Agreement that this
Agreement be executed and delivered by the parties hereto to set forth the terms of the respective
rights of the Term Facility Secured Parties, on the one hand, and the Revolving Facility Secured
Parties, on the other hand, and the application of any proceeds and certain other matters; and

          Now, Therefore, in consideration of the foregoing, the mutual covenants and
obligations herein set forth and for other good and valuable consideration, the adequacy and
receipt of which are hereby acknowledged, and in reliance upon the representations, warranties and
covenants herein contained, the parties hereto, intending to be legally bound, hereby agree as
follows:

          Section 1. Definitions

          Unless otherwise defined herein, terms defined in either Credit Agreement and used herein
shall have the meanings specified in such Credit Agreement. In addition, as used in

DANA — Intercreditor Agreement

 

 

this Agreement, the following terms shall have the following meanings (such meanings to be
equally applicable to both the singular and the plural form of the terms indicated):

          “Adequate Protection” means “adequate protection” under Section 361, 362, 363 or 364 of the
Bankruptcy Code.

          “Agents” means (a) with respect to the Term Facility Lenders and Term Facility Secured
Parties, collectively, the Term Facility Administrative Agent and Term Facility Collateral Agent,
and (b) with respect to the Revolving Facility Lenders and Revolving Facility Secured Parties,
collectively, the Revolving Facility Administrative Agent and Revolving Facility Collateral Agent.

          “Agreement” means this Intercreditor Agreement.

          “Bankruptcy Code” means 11 U.S.C. § 101 et seq.

          “Borrower” has the meaning set forth in the recitals hereto, and shall include any successor
in interest thereto.

          “Collateral” means the Revolving Facility First Lien Collateral and the Term Facility First
Lien Collateral, as the case may be.

          “Credit Agreement” has the meaning set forth in the recitals hereto.

          “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other
liquidation, conservatorship, bankruptcy, general assignment for the benefit of creditors,
moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws
of the United States or other applicable jurisdictions from time to time in effect and affecting
the rights of creditors generally.

          “DIP Financing” has the meaning set forth in Section 6.1 hereof.

          “Enforcement Action” means the exercise of any rights and remedies with respect to any
Collateral or the commencement or prosecution of enforcement of any of the rights and remedies
under, as applicable, the Revolving Facility Collateral Documents or the Term Facility Collateral
Documents, or applicable law, including without limitation the exercise of any rights of set-off or
recoupment, and the exercise of any rights or remedies of a secured creditor under the UCC of any
applicable jurisdiction or under Debtor Relief Laws.

          “Exigent Circumstance” means an event or circumstance that constitutes a Senior Obligations
Event of Default or that occurs during the continuance of a Senior Obligations Event of Default
that materially and imminently threatens the ability of the Senior Administrative Agent or the
Senior Collateral Agent to realize upon all or a material part of the Collateral, such as, without
limitation, fraudulent removal, concealment, or abscondment thereof, destruction (other than to the
extent covered by insurance) or material waste thereof, or failure of any Loan Party or Subsidiary
after reasonable demand to maintain or reinstate adequate casualty insurance coverage as required
by the terms of the Credit Agreements.

DANA — Intercreditor Agreement

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          “Guarantors” means the “Guarantors” as defined in the Credit Agreements.

          “Insolvency or Liquidation Proceeding” means (a) any voluntary or involuntary case or
proceeding under any Debtor Relief Laws with respect to the Borrower or any other Loan Party, (b)
any other voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or
any receivership or other similar case or proceeding with respect to the Borrower or any other Loan
Party or with respect to any of their respective assets, (c) any liquidation, dissolution,
reorganization or winding up of the Borrower or any other Loan Party, whether voluntary or
involuntary and whether or not involving insolvency or bankruptcy (other than as permitted pursuant
to the Credit Agreements) or (d) any general assignment for the benefit of creditors or any other
marshaling of assets and liabilities of the Borrower or any other Loan Party.

          “Junior Administrative Agent” means (a) in respect of the Term Facility First Lien Collateral,
the Revolving Facility Administrative Agent, and (b) in respect of the Revolving Facility First
Lien Collateral, the Term Facility Administrative Agent.

          “Junior Collateral Agent” means (a) in respect of the Term Facility First Lien Collateral, the
Revolving Facility Collateral Agent, and (b) in respect of the Revolving Facility First Lien
Collateral, the Term Facility Collateral Agent.

          “Junior Credit Agreement” means (a) in respect of the Term Facility First Lien Collateral, the
Revolving Facility Credit Agreement, and (b) in respect of the Revolving Facility First Lien
Collateral, the Term Facility Credit Agreement.

          “Junior Documents” means (a) in respect of the Term Facility First Lien Collateral, the
Revolving Facility Documents, and (b) in respect of the Revolving Facility First Lien Collateral,
the Term Facility Documents.

          “Junior Lenders” means (a) in respect of the Revolving Facility First Lien Collateral, the
Term Facility Lenders and (b) in respect of the Term Facility First Lien Collateral, the Revolving
Facility Lenders.

          “Junior Liens” means (a) in respect of the Revolving Facility First Lien Collateral, the Term
Facility Liens on such Collateral, and (b) in respect of the Term Facility First Lien Collateral,
the Revolving Facility Liens on such Collateral.

          “Junior Obligations” means (a) in respect of the Term Facility Obligations, to the extent such
Term Facility Obligations are secured by the Term Facility First Lien Collateral, the Revolving
Facility Obligations, and (b) in respect of the Revolving Facility Obligations, to the extent such
Revolving Facility Obligations are secured by the Revolving Facility First Lien Collateral, the
Term Facility Obligations.

DANA — Intercreditor Agreement

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          “Junior Obligations Collateral” means, in respect of any Junior Obligation, the Collateral
securing such Junior Obligation which is not first-priority Collateral hereunder as to such Junior
Obligations.

          “Junior Obligations Collateral Documents” means (a) in respect of the Revolving Facility First
Lien Collateral, the Term Facility Collateral Documents, and (b) in respect of the Term Facility
First Lien Collateral, the Revolving Facility Collateral Documents.

          “Junior Obligations Event of Default” means (a) in respect of the Term Facility First Lien
Collateral and any Term Facility Obligations in relation thereto, any Revolving Facility Event of
Default, and (b) in respect of the Revolving Facility First Lien Collateral and any Revolving
Facility Obligations in relation thereto, any Term Facility Event of Default.

          “Junior Obligations Required Lenders” means (a) in respect of the Revolving Facility First
Lien Collateral, the Required Term Facility Lenders, and (b) in respect of the Term Facility First
Lien Collateral, the Required Revolving Facility Lenders.

          “Junior Obligations Secured Parties” means (a) in respect of the Term Facility First Lien
Collateral, the Revolving Facility Secured Parties, and (b) in respect of the Revolving Facility
First Lien Collateral, the Term Facility Secured Parties.

          “Loan Documents” means, collectively, the Term Facility Documents and the Revolving Facility
Documents.

          “Maximum Obligations Amount” means (a) in respect of the Term Facility Credit Agreement, the
sum of (i) the aggregate principal amount of Term Facility Obligations up to, but not in excess
of, $1,573,000,000 plus (ii) any interest, fees, attorneys fees, costs, expenses, and indemnities
payable on account of such principal amount under the Term Facility Credit Agreement in respect
thereof, plus (iii) all amounts owing under Secured Hedge Agreements and Secured Credit Card
Programs (in each case, as defined in the Term Facility Credit Agreement), minus the aggregate
amount of all payments and prepayments of principal of Advances (as defined in the Term Facility
Credit Agreement) made from and after the date hereof; and (b) in respect of the Revolving Facility
Credit Agreement, the sum of (i) the aggregate principal amount (including the undrawn amount of
all letters of credit and all other credit accommodations) of Revolving Facility Obligations up to,
but not in excess of, $715,000,000 plus (ii) any interest, fees, attorneys fees, costs, expenses,
and indemnities payable on account of such principal amount under the Revolving Facility Credit
Agreement in respect thereof, plus (iii) all amounts owing under Secured Hedge Agreements and
Secured Credit Card Programs (in each case, as defined in the Revolving Facility Credit Agreement),
minus the aggregate amount of all permanent reductions of the Revolving Facility Commitments from
and after the date hereof; provided that in no event shall this definition limit amounts owing
under Secured Hedge Agreements and Secured Credit Card Programs.

          “New Senior Agent” has the meaning specified in Section 5.8 hereof.

          “Obligations” means, collectively, the Term Facility Obligations and the Revolving Facility
Obligations.

DANA — Intercreditor Agreement

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          “paid in full” and “payment in full” means, with respect to any and all Obligations, (a)
payment in full thereof in cash (or otherwise to the written satisfaction of the applicable Secured
Parties with respect to such Obligations), (b) in the case of any outstanding Letter of Credit (as
defined in the Revolving Facility Credit Agreement), receipt of cash collateral (or a backstop
letter of credit in respect thereof on terms acceptable to the Issuing Bank (as defined in the
Revolving Facility Credit Agreement) and the Revolving Facility Administrative Agent) in an amount
equal to the Outstanding Amount (as defined in the Revolving Facility Credit Agreement) under such
Letter of Credit (as defined in the Revolving Facility Credit Agreement), and (c) termination of
the Revolving Facility Commitments (as defined in the Revolving Facility Credit Agreement) and all
other Obligations of the applicable Secured Parties under the Revolving Facility Documents.

          “Refinance” means, in respect of any indebtedness, to refinance, extend, renew, defease,
amend, modify, supplement, restructure, replace, refund or repay, or to issue other indebtedness,
in exchange or replacement for, such indebtedness in whole or in part; provided that the
Refinancing indebtedness is secured by Liens in respect of the same assets and properties that
secured the Refinanced indebtedness prior to such Refinancing. “Refinanced” and “Refinancing” shall
have correlative meanings. hereof.

          “Recovery” has the meaning specified in Section 6.4 hereof.

          “Required Revolving Facility Lenders” means the “Required Lenders” under and as defined in the
Revolving Facility Credit Agreement.

          “Required Term Facility Lenders” means the “Required Lenders” under and as defined in the Term
Facility Credit Agreement.

          “Revolving Facility Administrative Agent” has the meaning set forth in the Preliminary
Statements.

          “Revolving Facility Collateral” means all assets and properties subject to Liens created by
the Revolving Facility Collateral Documents to secure the Revolving Facility Obligations.

          “Revolving Facility Collateral Agent” means the Revolving Facility Collateral Agent referred
to herein and any successor agent thereto pursuant to the Revolving Facility Credit Agreement, or
if there is no acting Revolving Facility Collateral Agent under the Revolving Facility Credit
Agreement and the other Revolving Facility Documents, the Required Revolving Facility Lenders.

          “Revolving Facility Collateral Documents” means “Collateral Documents” as defined in the
Revolving Facility Credit Agreement.

          “Revolving Facility Credit Agreement” has the meaning set forth in the Preliminary Statements.

DANA — Intercreditor Agreement

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          “Revolving Facility Event of Default” means an “Event of Default” under and as defined in the
Revolving Facility Credit Agreement.

          “Revolving Facility First Lien Collateral” means any and all of the following assets and
properties now owned or at any time acquired by any Loan Party (other than Excluded Assets (as
defined in the Revolving Facility Security Agreement)): (a) all Accounts arising from the sale or
other disposition of goods or services; (b) all Inventory; (c) to the extent evidencing, governing,
securing or otherwise related to the items referred to in clauses (a) and (b), all (i) General
Intangibles, (ii) Chattel Paper; (iii) Instruments, (iv) Documents, (v) Letter-of-Credit Rights,
and (vi) Supporting Obligations; (d) all collection accounts, deposit accounts, commodity accounts,
security accounts and any cash, Cash Equivalents or other assets in any such accounts (excluding
any net cash proceeds from the sale or other disposition of any Term Facility First Lien
Collateral); (e) all books and records; and (f) all products and proceeds of any and all of the
foregoing in whatever form received, including proceeds of insurance and claims against third
parties. All capitalized terms used in this definition and not defined elsewhere in this Agreement
have the meanings assigned to them in the UCC (except “Loan Party” and “Cash Equivalents”).

          “Revolving Facility Lenders” means the “Lenders” under and as defined in the Revolving
Facility Credit Agreement.

          “Revolving Facility Liens” means the Liens on the Revolving Facility Collateral created under
the Revolving Facility Collateral Documents to secure the Revolving Facility Obligations.

          “Revolving Facility Documents” means the “Loan Documents” under and as defined in the
Revolving Facility Credit Agreement.

          “Revolving Facility Obligations” means “Obligations” (under and as defined in the Revolving
Facility Credit Agreement) of the Loan Parties under the Revolving Facility Documents (whether or
not any such claim is discharged, stayed or otherwise affected by any proceeding referred to in
Section 6.01(f) of the Revolving Facility Credit Agreement).

          “Revolving Facility Secured Parties” means, at any relevant time, the holders of the Revolving
Facility Obligations outstanding at such time.

          “Revolving Facility Security Agreement” means the “Security Agreement” under and as defined in
the Revolving Facility Credit Agreement.

          “Secured Parties” means, collectively, the Term Facility Secured Parties and the Revolving
Facility Secured Parties.

          “Security Agreements” means, collectively, the Term Facility Security Agreement and the
Revolving Facility Security Agreement.

          “Senior Administrative Agent” means (a) in respect of the Term Facility First Lien Collateral,
the Term Facility Administrative Agent, and (b) in respect of the Revolving Facility First Lien
Collateral, the Revolving Facility Administrative Agent.

DANA — Intercreditor Agreement

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          “Senior Collateral Agent” means (a) in respect of the Revolving Facility First Lien
Collateral, the Revolving Facility Collateral Agent, and (b) in respect of the Term Facility First
Lien Collateral, the Term Facility Collateral Agent.

          “Senior Credit Agreement” means (a) in respect of the Revolving Facility First Lien
Collateral, the Revolving Facility Credit Agreement, and (b) in respect of the Term Facility First
Lien Collateral, the Term Facility Credit Agreement.

          “Senior Documents” means (a) in respect of the Term Facility First Lien Collateral, the Term
Facility Documents and (b) in respect of the Revolving Facility First Lien Collateral, the
Revolving Facility Documents.

          “Senior Liens” means (a) in respect of the Revolving Facility First Lien Collateral, the
Revolving Facility Liens on such Collateral, and (b) in respect of the Term Facility First Lien
Collateral, the Term Facility Liens on such Collateral.

          “Senior Obligations” means (a) to the extent such Revolving Facility Obligations are secured
by the Revolving Facility First Lien Collateral, the Revolving Facility Obligations, and (b) to the
extent such Term Facility Obligations are secured by the Term Facility First Lien Collateral, the
Term Facility Obligations.

          “Senior Obligations Collateral” means (a) with respect to the Term Facility Obligations, the
Term Facility First Lien Collateral, and (b) with respect to the Revolving Facility Obligations,
the Revolving Facility First Lien Collateral.

          “Senior Obligations Collateral Documents” means (a) in respect of the Revolving Facility First
Lien Collateral, the Revolving Facility Collateral Documents, and (b) with respect to the Term
Facility First Lien Collateral, the Term Facility Collateral Documents.

          “Senior Obligations Event of Default” means (a) in respect of the Revolving Facility First
Lien Collateral and the Revolving Facility Obligations in relation thereto, an Revolving Facility
Event of Default and (b) in respect of the Term Facility First Lien Collateral and the Term
Facility Obligations in relation thereto, a Term Facility Event of Default.

          “Senior Obligations Required Lenders” means (a) with respect to the Revolving Facility First
Lien Collateral, the Required Revolving Facility Lenders, and (b) with respect to the Term Facility
First Lien Collateral, the Required Term Facility Lenders.

          “Senior Obligations Secured Parties” means (a) with respect to the Term Facility First Lien
Collateral, the Term Facility Secured Parties, and (b) with respect to the Revolving Facility First
Lien Collateral, the Revolving Facility Secured Parties.

          “Senior Security Agreement” means (a) in respect of the Revolving Facility First Lien
Collateral, the Revolving Facility Security Agreement, and (b) in respect of the Term Facility
First Lien Collateral, the Term Facility Security Agreement.

          “Term Facility Administrative Agent” has the meaning specified in the Preliminary Statements.

DANA — Intercreditor Agreement

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          “Term Facility Collateral” means all of the assets and properties subject to Liens created by
the Term Facility Collateral Documents to secure Term Facility Obligations.

          “Term Facility Collateral Agent” means the Term Facility Collateral Agent referred to herein
and any successor agent thereto pursuant to the Term Facility Credit Agreement, or if there is no
acting Term Facility Collateral Agent under the Term Facility Credit Agreement and the other Term
Facility Documents, the Required Term Facility Lenders.

          “Term Facility Collateral Documents” means the “Collateral Documents” as defined in the Term
Facility Credit Agreement.

          “Term Facility Credit Agreement” has the meaning specified in Preliminary Statements.

          “Term Facility Credit Agreement” has the meaning specified in Preliminary Statements.

          “Term Facility Event of Default” means an “Event of Default” as defined in the Term Facility
Credit Agreement.

          “Term Facility First Lien Collateral” means any and all of the following assets and properties
now owned or at any time hereafter acquired by any Loan Party (other than Excluded Assets (as
defined in the Term Facility Security Agreement)): (a) owned real property, Fixtures and
Equipment; (b) all Intellectual Property; (c) all Equity Interests in the Borrower and its
Subsidiaries; (d) all General Intangibles, Chattel Paper, Instruments and Documents (other than
General Intangibles, Chattel Paper, Instruments and Documents that are Revolving Facility First
Lien Collateral); (e) all Payment Intangibles that relate to real property, Fixtures or Equipment;
(f) all intercompany indebtedness of the Loan Parties; (g) all permits and licenses related to any
of the foregoing (including any permits or licenses related to ownership or operation of real
property, Fixtures or Equipment of any Loan Party); (h) all proceeds of insurance that relate to
the foregoing; (i) all books and records related to the foregoing and not constituting Revolving
Facility First Lien Collateral; (j) all other Collateral not constituting Revolving Facility First
Lien Collateral; and (k) all products and proceeds of the foregoing. All capitalized terms used in
this definition and not defined elsewhere in this Agreement have the meanings assigned to them in
the UCC (except “Loan Party”).

          “Term Facility Lender Parties” means the “Lender Parties” under and as defined in the Term
Facility Credit Agreement.

          “Term Facility Lenders” means the “Lenders” under and as defined in the Term Facility Credit
Agreement.

          “Term Facility Liens” means the Liens on the Term Facility Collateral created under the Term
Facility Collateral Documents to secure the Term Facility Obligations.

          “Term Facility Documents” means the “Loan Documents” under and as defined in the Term Facility
Credit Agreement.

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          “Term Facility Obligations” means the “Obligations” (under and as defined in the Term Facility
Credit Agreement) of the Loan Parties under the Term Facility Documents, whether or not such claim
is discharged, stayed or otherwise affected by any proceeding referred to in Section
6.01(f) of the Term Facility Credit Agreement.

          “Term Facility Secured Parties” means, at any relevant time, the holders of the Term Facility
Obligations outstanding at such time.

          “Term Facility Security Agreement” means the “Term Facility Security Agreement” under and as
defined in the Term Facility Credit Agreement.

          “Uniform Commercial Code” or “UCC” means the Uniform Commercial Code of the State of New York,
as amended.

          Section 2. Lien Priorities

          2.1 Relative Priorities

          Notwithstanding the date, manner or order of grant, attachment or perfection of any Lien
granted to the Revolving Facility Collateral Agent or the Revolving Facility Secured Parties on the
Collateral or of any Lien granted to the Term Facility Collateral Agent or the Term Facility
Secured Parties on the Collateral and notwithstanding any provision of the UCC, or any applicable
laws or decision or the Revolving Facility Documents or the Term Facility Documents or any other
circumstance whatsoever (including, without limitation, any non-perfection of any Lien securing or
purporting to secure the Revolving Facility Obligations or the Term Facility Obligations), each
Junior Obligations Secured Party (by its acceptance of the benefits of the Junior Documents) agrees
that: (a) any Senior Lien on the Collateral securing the Senior Obligations now or hereafter held
by or for the benefit of the Senior Obligations Secured Parties, regardless of how acquired,
whether by grant, statute, operation of law, subrogation or otherwise, shall be senior in all
respects and prior to any Junior Lien on such Collateral securing the Junior Obligations; and (b)
any Junior Lien on the Collateral securing the Junior Obligations now or hereafter held by or for
the benefit of the Junior Obligations Secured Parties, regardless of how acquired, whether by
grant, statute, operation of law, subrogation or otherwise, shall be junior and subordinate in all
respects to all Senior Liens on such Collateral securing the Senior Obligations.

          2.2 Prohibition on Contesting Liens

          Each Junior Obligations Secured Party (by its acceptance of the benefits of the Junior
Documents) agrees that it shall not, and hereby waives any right to, contest, or support any other
Person in contesting, in any proceeding (including, without limitation, any Insolvency or
Liquidation Proceeding), the priority, validity or enforceability of any Lien held by the Senior
Obligations Secured Parties in the Collateral. Each Senior Obligations Secured Party (by its
acceptance of the benefits of the Senior Documents) agrees that it shall not, and hereby waives any
right to, contest, or support any other Person in contesting, in any proceeding (including, without
limitation, any Insolvency or Liquidation Proceeding), the priority, validity or enforceability of
any Lien held by the Junior Obligations Secured Parties in the Collateral;

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provided that this Section 2.2 shall not be construed to prevent or impair the rights
of the Senior Obligations Secured Parties to enforce this Agreement, including without limitation,
the priority of Liens in Section 2.1 and the exercise of remedies in Section 3.1

          2.3 No New Liens

          Until the payment in full of the Senior Obligations has occurred, the parties hereto agree
that no Loan Party shall, or shall permit any of its Subsidiaries to (i) grant or permit any
additional Liens on any asset or property to secure any Junior Obligation unless it has granted a
Lien on such asset or property to secure the Senior Obligations, or (ii) grant or permit any
additional Liens on any asset or property to secure any Senior Obligations unless it has granted a
Lien on such asset or property to secure the Junior Obligations and any such Lien referred to in
this Section 2.3 shall be subject to the provisions of Section 2.1 and Section
3.1. To the extent that the foregoing provisions are not complied with for any reason, without
limiting any other rights and remedies available to the Senior Obligations Secured Parties, each
Junior Obligations Secured Party (by its acceptance of the benefits of the applicable Loan
Documents) agrees that any amounts received by or distributed to any Junior Obligations Secured
Party pursuant to or as a result of Liens granted in contravention of this Section 2.3
shall be subject to Section 3.2.

          Section 3. Enforcement; Application of Proceeds of Collateral and Other Payments

          3.1 Exercise of Remedies

          (a) So long as the Senior Obligations have not been paid in full, whether or not any
Insolvency or Liquidation Proceeding has been commenced by or against the Borrower or any of its
Subsidiaries (other than Excluded Subsidiaries), (i) the Junior Collateral Agent and the Junior
Obligations Secured Parties (by their acceptance of the benefits of the Junior Documents) will not
(1) exercise or seek to exercise any rights or remedies with respect to any Senior Obligations
Collateral securing the Junior Obligations, (2) institute any action or proceeding with respect to
such Senior Obligations Collateral securing the Junior Obligations (including, without limitation,
any action of foreclosure, contest or protest) or (3) object to any foreclosure proceeding or
action brought by the Senior Collateral Agent or any Senior Obligations Secured Party or the
exercise of any right under any Senior Obligations Collateral Document or similar agreement or
arrangement to which the Senior Collateral Agent or any Senior Obligations Secured Party is a
party, or any other exercise by any such party of any rights and remedies, in each case relating to
the Senior Obligations Collateral under the Senior Documents or otherwise; or, except as provided
herein, object to any release of any or all of the Senior Obligations Collateral for any purpose,
or object to the forbearance by the Senior Collateral Agent or Senior Obligations Secured Parties
from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights
or remedies relating to the Senior Obligations Collateral; provided, however, that
nothing herein shall be construed to impair the right of the Junior Obligations Secured Parties to
exercise their rights and remedies as unsecured creditors pursuant to Section 5.4 of this
Agreement; and (ii) subject to the rights of the Junior Collateral Agent and the Junior Obligations
Secured Parties under the proviso to clause (i) above, the Senior Collateral Agent and the
Senior Obligations Secured Parties shall have the exclusive right to enforce rights, exercise
remedies and make determinations regarding release,

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disposition, or restrictions with respect to the Senior Obligation Collateral without any
consultation with or the consent of the Junior Collateral Agent or any other Junior Obligations
Secured Party, and the Junior Collateral Agent shall take any action reasonably requested by the
Senior Collateral Agent in order to effectuate any such enforcement, exercise, release or
disposition; provided, however, that (x) in any Insolvency or Liquidation
Proceeding commenced by or against any Loan Party, the Junior Collateral Agent may file a claim or
statement of interest with respect to the Junior Obligations Collateral, (y) the Junior Collateral
Agent and the Junior Obligations Secured Parties may take any action not adverse to the Senior
Obligations Secured Parties in order to preserve or protect their rights in the Senior Obligations
Collateral and the Junior Collateral Agent may act in coordination with, and not in a manner
adverse to, the Senior Collateral Agent and the Senior Obligations Secured Parties in exercising
any remedies initiated by the Senior Collateral Agent or Senior Obligations Secured Parties with
respect to the Senior Obligations Collateral, and (z) at any time that a Junior Obligations Event
of Default has occurred and as long as such Junior Obligations Event of Default is continuing, the
Required Revolving Facility Lenders or the Required Term Facility Lenders, as applicable, may
instruct the applicable Junior Administrative Agent to declare Junior Obligations under the
applicable Junior Credit Agreement to be forthwith due and payable in accordance with Section
6.01 of the applicable Junior Credit Agreement, whereupon the Junior Obligations shall become
and be forthwith due and payable, without presentment, demand, protest or further notice of any
kind. In exercising rights and remedies with respect to the Senior Obligations Collateral, the
Senior Collateral Agent and each Senior Obligations Secured Party (by its acceptance of the
benefits of the Senior Documents) may enforce the provisions of the Senior Documents and exercise
remedies thereunder, all in such order and in such manner as they may determine in the exercise of
their sole discretion, subject to acting in a commercially reasonable manner in accordance with the
UCC and the terms of this Agreement and the other Senior Documents. Such exercise and enforcement
shall include, without limitation, the rights of an agent appointed by them to sell or otherwise
dispose of such Senior Obligations Collateral upon foreclosure, to incur expenses in connection
with such sale or disposition, and to exercise all the rights and remedies of a secured lender
under the Uniform Commercial Code of any applicable jurisdiction and of a secured creditor under
Debtor Relief Laws.

          (b) The Junior Collateral Agent and each Junior Obligations Secured Party (by its acceptance
of the benefits of the Junior Documents) agrees that it shall not, with respect to the Junior
Obligations, take or receive from or on behalf of any Loan Party or any Subsidiary of a Loan Party,
directly or indirectly, in cash or other property or by setoff, counterclaim or in any other manner
(whether pursuant to any enforcement, collection, execution, levy, foreclosure action or other
proceeding or otherwise) any Senior Obligations Collateral or any proceeds of Senior Obligations
Collateral, unless and until all Senior Obligations have been paid in full in accordance with
Section 3.2 hereof. Without limiting the generality of the foregoing, unless and until the
Senior Obligations have been paid in full, except as expressly provided herein, the sole right of
the Junior Collateral Agent and the Junior Obligations Secured Parties with respect to the Senior
Obligations Collateral is to hold a Lien on the Senior Obligations Collateral pursuant to the
Junior Documents for the period and to the extent granted therein and to receive a share of the
proceeds thereof, if any, after payment in full of the Senior Obligations; provided,
however, that nothing in this paragraph shall be construed to impair the right of the
Junior Obligations Secured Parties to receive payments of principal, interest, fees and other
amounts in respect of

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the Junior Obligations as provided for in the applicable Credit Agreement and the Notes
referred to in such applicable Credit Agreement, and to enforce the making of such payments by
bringing suit at law (but not, except as provided in Section 3.1(a)(i) above, to exercise
any rights in respect of the Liens of the Junior Collateral Agent on the Senior Obligations
Collateral) with respect to any unpaid amounts of such payments. Each of the Junior Collateral
Agent and the Junior Obligations Secured Parties (by its acceptance of the benefits of the Junior
Documents): (i) further agrees that the Junior Collateral Agent and the other Junior Obligations
Secured Parties will not take any action that would be reasonably likely to (w) hinder, delay,
limit, impede or prohibit any exercise of remedies by the Senior Collateral Agent to the extent
related to satisfying the Senior Obligations, including any collection, sale, lease, exchange,
transfer or other disposition of the Senior Obligations Collateral, whether by foreclosure or
otherwise, (x) limit, invalidate, avoid or set aside any Senior Lien or Collateral Document
securing or purporting to secure the Senior Obligations, (y) subordinate the priority of the Senior
Liens to the Junior Liens or (z) grant the Junior Liens securing the Junior Obligations equal
ranking to the Senior Liens securing the Senior Obligations and (ii) hereby waives any and all
rights it may have (other than as specified herein) as a junior lien creditor or otherwise (whether
arising under the UCC or under any other applicable law) to object to the manner in which the
Senior Collateral Agent or the Senior Obligations Secured Parties seek to enforce or collect the
Senior Obligations or enforce the Senior Liens now or hereafter granted in any Senior Obligations
Collateral to secure the Senior Obligations, regardless of whether any action or failure to act by
or on behalf of the Senior Collateral Agent or the Senior Obligations Secured Parties is adverse to
the interest of the Junior Obligations Secured Parties.

          3.2 Application of Proceeds of Collateral and Other Payments

          (a) So long as the payment in full of the Revolving Facility Obligations has not occurred,
whether or not any Insolvency or Liquidation Proceeding has been commenced by or against any Loan
Party, all Revolving Facility First Lien Collateral or proceeds thereof received in connection with
the sale or other disposition of, or collection on, such Revolving Facility First Lien Collateral
upon the exercise of remedies by the Revolving Facility Administrative Agent or Revolving Facility
Secured Parties or otherwise (prompt notice of such exercise to be given to the Term Facility
Administrative Agent), shall be applied by the Revolving Facility Administrative Agent to the
Revolving Facility Obligations in such order as specified in Section 21(b) of the Revolving
Facility Security Agreement.

          (b) Upon the payment in full of all Revolving Facility Obligations, the Revolving Facility
Administrative Agent shall deliver to the Term Facility Administrative Agent any Revolving Facility
First Lien Collateral and proceeds of Revolving Facility First Lien Collateral held by it in the
same form as received, with any necessary endorsements or as a court of competent jurisdiction may
otherwise direct to be applied by the Term Facility Administrative Agent in such order as specified
in Section 21(b) of the Term Facility Security Agreement. Thereafter, so long as the payment in
full of the Term Facility Obligations has not occurred, whether or not any Insolvency or
Liquidation Proceeding has been commenced by or against any Grantor, all Revolving Facility First
Lien Collateral or proceeds thereof received in connection with the sale or other disposition of,
or collection on, such Revolving Facility First Lien Collateral upon the exercise of remedies by
the Term Facility Administrative Agent or otherwise (prompt notice of such exercise to be given to
the Revolving Facility Administrative Agent),

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shall be applied by the Term Facility Administrative Agent to the Term Facility Obligations in
such order as specified in Section 21(b) of the Term Facility Security Agreement.

          (c) So long as the payment in full of the Term Facility Obligations has not occurred, whether
or not any Insolvency or Liquidation Proceeding has been commenced by or against any Loan Party,
all Term Facility First Lien Collateral or proceeds thereof received in connection with the sale or
other disposition of, or collection on, such Term Facility First Lien Collateral upon the exercise
of remedies by the Term Facility Administrative Agent or Term Facility Secured Parties or otherwise
(prompt notice of such exercise to be given to the Revolving Facility Administrative Agent), shall
be applied by the Term Facility Administrative Agent to the Term Facility Obligations in such order
as specified in Section 21(b) of the Term Facility Security Agreement.

          (d) Upon the payment in full of Term Facility Obligations, the Term Facility Administrative
Agent shall deliver to the Revolving Facility Administrative Agent any Term Facility First Lien
Collateral and proceeds of Term Facility First Lien Collateral held by it in the same form as
received, with any necessary endorsements or as a court of competent jurisdiction may otherwise
direct to be applied by the Revolving Facility Administrative Agent in such order as specified in
Section 21(b) of the Revolving Facility Security Agreement. Thereafter, so long as the payment in
full of the Revolving Facility Obligations has not occurred, whether or not any Insolvency or
Liquidation Proceeding has been commenced by or against any Grantor, all Term Facility First Lien
Collateral or proceeds thereof received in connection with the sale or other disposition of, or
collection on, such Term Facility First Lien Collateral upon the exercise of remedies by the
Revolving Facility Administrative Agent or otherwise, shall be applied by the Revolving Facility
Administrative Agent to the Revolving Facility Obligations in such order as specified in Section
21(b) of the Revolving Facility Security Agreement.

          3.3 Rights of Revolving Facility Collateral Agent

          Notwithstanding anything contained in this Agreement to the contrary, subject to the
priorities and preferences set forth herein, and at all times prior to the payment in full of all
Revolving Facility Obligations, in connection with the exercise by the Revolving Facility
Collateral Agent of its rights and remedies hereunder and under the Revolving Facility Documents
with respect to the Revolving Facility First Lien Collateral, in accordance with Section 5.01(f) of
the Revolving Facility Credit Agreement, the Revolving Facility Collateral Agent shall have the
right to enter one or more premises of the Loan Parties, whether leased or owned, at any time
during reasonable business hours, without force or process of law and without obligation to pay
rent or compensation to any Loan Party to assemble, appraise, display, operate, sever, remove,
maintain, manufacture, prepare for sale or lease, repair, lease, transfer and/or sell the Revolving
Facility First Lien Collateral or any part thereof and may use any Term Facility First Lien
Collateral constituting equipment located thereon as well as intellectual property of (or licensed
by) any Loan Party necessary in respect of any Collateral in respect of the foregoing activities,
and may use and have access to all books and records of the Loan Parties located thereon and may
have access to and use of any other property to which such access and use are granted under the
Revolving Facility Documents; provided that such access and use shall be for purposes of enforcing
the rights of the Revolving Facility Collateral Agent and the Revolving Facility Secured Parties
with respect to the Revolving Facility First Lien Collateral in

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accordance with the priorities, rights and preferences set forth herein. In furtherance of the
foregoing, the Term Facility Collateral Agent hereby agrees that, if the Revolving Facility
Collateral Agent shall require rights available under any permit, license, lease, contract or other
contractual right or interest (including in respect of intellectual property) controlled by the
Term Facility Collateral Agent in order to realize on, or exercise any rights or remedies in
respect of, any Revolving Facility First Lien Collateral, the Term Facility Collateral Agent shall
take all such actions as shall be available to it, consistent with applicable law and as reasonably
requested by the Revolving Facility Collateral Agent, to make such rights available to the
Revolving Facility Collateral Agent, including, if necessary, by granting to the Revolving Facility
Collateral Agent non-exclusive, royalty-free, rent-free licenses (subject to the terms of the
underlying license) and leases, as the Revolving Facility Collateral Agent reasonably determines to
be necessary in connection with the exercise of its rights and remedies in respect of the Revolving
Facility First Lien Collateral. In order to facilitate the purpose of this Section 3.3, any
mortgage of, assignment of, security interest in or other Lien on the Term Facility First Lien
Collateral shall be subject to the Revolving Facility Collateral Agent’s rights of access and use
described above.

          Section 4.Payments

          4.1 Payments Over

          Unless and until all Senior Obligations shall have been paid in full, any Senior Obligations
Collateral or proceeds thereof or any payment received by the Junior Collateral Agent or any Junior
Obligations Secured Party (by its acceptance of the benefits of the Junior Documents, so agreeing)
from proceeds of the Senior Obligations Collateral in contravention of this Agreement shall be
segregated and held in trust and forthwith paid over to the Senior Collateral Agent in the same
form as received, with any necessary endorsements or as a court of competent jurisdiction may
otherwise direct. The Senior Collateral Agent is hereby authorized to make any and all such
endorsements as agent for the Junior Collateral Agent or any such Junior Obligations Secured Party.
This authorization is coupled with an interest and is irrevocable, and is in addition to the
rights of the Senior Collateral Agent under Section 5.5; provided, however, that nothing in
this Section 4.1 shall be construed to impair the right of the Junior Obligations Secured
Parties to receive payments of principal, interest, fees and other amounts in respect of the Junior
Obligations as provided for in the applicable Junior Credit Agreement and the Notes referred to in
the applicable Junior Credit Agreement, and to enforce the making of such payments by bringing suit
at law (but not, except as provided in Section 3.1(a)(i) above, to exercise any rights in
respect of the Liens of the Junior Collateral Agent on the Senior Obligations Collateral) with
respect to any unpaid amounts of such payments.

          Section 5.Other Agreements

          5.1 Releases

          (a) Other than in connection with the payment in full of the Senior Obligations (unless such
payment in full is made with proceeds from an Enforcement Action or other dispositions of
Collateral), upon any release, sale or disposition of Senior Obligations Collateral permitted
pursuant to the terms of the Senior Obligations Collateral Documents and

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any agreements governing the Senior Obligations that results in the release of the Senior Lien
on any Senior Obligations Collateral (including without limitation any sale or other disposition
pursuant to any Enforcement Action), the Junior Lien on such Senior Obligations Collateral (but not
on any proceeds of such Senior Obligations Collateral which is not required to be paid to the
Senior Obligations Secured Parties) shall be automatically and unconditionally released with no
further consent or action of any Person.

          (b) Each of the Junior Administrative Agent and Junior Collateral Agent, on behalf of itself
and the other Junior Obligations Secured Parties, at the sole cost and expense of the Loan Parties,
shall promptly execute and deliver such release documents and instruments and shall take such
further actions as the applicable Senior Administrative Agent and Senior Collateral Agent shall
request to evidence any release of the Junior Lien described in paragraph (a) above. Each of the
Junior Administrative Agent and Junior Collateral Agent and each other Junior Obligations Secured
Party hereby appoints the applicable Senior Administrative Agent and Senior Collateral Agent and
any officer or duly authorized person of such Senior Administrative Agent and Senior Collateral
Agent, with full power of substitution, as its true and lawful attorney-in-fact with full
irrevocable power of attorney in the place and stead of the Junior Obligations Secured Parties and
in the name of the Junior Obligations Secured Parties or in the applicable Senior Administrative
Agent and Senior Collateral Agent’s own name, from time to time, in such Senior Administrative
Agent and Senior Collateral Agent’s sole discretion, for the purposes of carrying out the terms of
this paragraph, to take any and all appropriate action and to execute and deliver any and all
documents and instruments as may be necessary or desirable to accomplish the purposes of this
paragraph, including, without limitation, any financing statements, endorsements, assignments,
releases or other documents or instruments of transfer (which appointment, being coupled with an
interest, is irrevocable).

          5.2 Insurance

          Unless and until the Senior Obligations are paid in full, the Senior Obligations Secured
Parties shall have the sole and exclusive right, subject to the rights of the Borrower and the
other Loan Parties under the Loan Documents, to adjust settlement for any insurance policy covering
the Senior Obligations Collateral in the event of any loss thereunder and to approve any award
granted in any condemnation or similar proceeding affecting the Senior Obligations Collateral.
Subject to the right of the Borrower and the other Loan Parties under the Loan Documents, unless
and until the Senior Obligations have been paid in full, all proceeds of any such policy and any
such award shall be paid to the applicable Senior Collateral Agent for application to the Senior
Obligations. Unless and until the Senior Obligations are paid in full, if the applicable Junior
Collateral Agent or any applicable Junior Obligations Secured Party shall, at any time, receive any
proceeds of any such insurance policy or any such award in contravention of this Agreement, it
shall pay such proceeds over to the Senior Collateral Agent in accordance with the terms of
Section 4 hereof (each of the Junior Obligations Secured Parties so agreeing by its
acceptance of the benefits of the Junior Documents). In the event the Senior Administrative Agent,
Senior Collateral Agent or Senior Obligations Secured Parties, pursuant to the terms of the Senior
Documents, allow, or the terms of the Senior Documents, without regard to the consent of the Senior
Administrative Agent, Senior Collateral Agent or Senior Obligations Secured Parties, allow, any
portion of such insurance proceeds or condemnation or similar award to be used by the Borrower or
any Subsidiary to repair or replace the Senior Obligations

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Collateral affected or for any other purpose, each of the Junior Collateral Agent and Junior
Obligations Secured Parties (by their acceptance of the benefits of the Junior Documents) hereby
consents thereto. Except as contemplated in the previous sentence or as otherwise provided under
the Loan Documents, any payment paid to the Senior Administrative Agent or Senior Collateral Agent
under this Section 5.2 shall be applied to the Senior Obligations in accordance with the
Senior Documents.

          5.3 INTENTIONALLY OMITTED.

          5.4 Rights As Unsecured Creditors

          Except as otherwise set forth in Section 3.1 of this Agreement, the Junior Collateral
Agent and the Junior Obligations Secured Parties may exercise rights and remedies as unsecured
creditors against the Borrower or any Guarantor that has guaranteed the Junior Obligations in
accordance with the terms of the Junior Documents and applicable law. Except as otherwise set
forth in Section 3.1 of this Agreement, nothing in this Agreement shall prohibit the
receipt by the Junior Collateral Agent or any Junior Obligations Secured Party of the required
payments or optional or required prepayments of interest and principal and other amounts due in
respect of the Junior Obligations so long as such receipt is not the direct or indirect result of
the exercise by the Junior Collateral Agent or any Junior Obligations Secured Parties of rights or
remedies as a secured creditor or enforcement in contravention of this Agreement or any other
Junior Document of any Lien held by any of them.

          5.5 Senior Collateral Agent as Bailee; Representative; Relationship

          (a) The Senior Collateral Agent agrees that if it has in its possession or control any Senior
Obligations Collateral (or such is in the possession or control of its agents or bailees), it will
serve as bailee or as agent, as the case may be, for the Junior Collateral Agent, and any permitted
assignee thereof, solely for the purpose of perfecting the security interest granted in such
Collateral to the Junior Collateral Agent pursuant to the Junior Obligations Collateral Documents,
subject to the terms and conditions of this Section 5.5. For the avoidance of doubt,
solely for purposes of perfecting the Liens in favor of the Term Facility Collateral Agent, the
Revolving Facility Collateral Agent agrees that it shall be the agent of the Term Facility
Collateral Agent with respect to any deposit accounts, securities accounts or other documents or
instruments included in the Collateral that are controlled or held by the Revolving Facility
Collateral Agent.

          (b) Subject to applicable law, except as otherwise expressly provided for herein, until the
Senior Obligations are paid in full, the Senior Collateral Agent shall be entitled to deal with the
Senior Obligations Collateral in accordance with the terms of the Senior Documents as if the Liens
of the Junior Obligations Secured Parties under the applicable Junior Documents did not exist. The
rights of the Junior Collateral Agent and the Junior Obligations Secured Parties with respect to
the Senior Obligations Collateral shall at all times be subject to the terms of this Agreement.

          (c) Subject to applicable law, the Senior Collateral Agent shall have no obligation whatsoever
to the Junior Collateral Agent or any Junior Obligations Secured Party to

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assure that the Senior Obligations Collateral is genuine or owned by any Loan Party or to
preserve the rights or benefits of any Person.

          (d) Neither the Senior Collateral Agent nor any Senior Obligations Secured Party shall have by
reason of the Senior Documents, Junior Documents, this Agreement or any other document a fiduciary
relationship in respect of the Junior Collateral Agent or any Junior Obligations Secured Party
(each of the Junior Obligations Secured Parties so agreeing by its acceptance of the benefits of
the Junior Documents). Neither the Junior Collateral Agent nor any Junior Obligations Secured
Party shall have by reason of the Junior Documents, this Agreement or any other document a
fiduciary relationship in respect of the Senior Collateral Agent or any Senior Obligations Secured
Party (each of the Senior Obligations Secured Parties so agreeing by its acceptance of the benefits
of the Senior Documents).

          (e) Each Senior Obligations Secured Party (by its acceptance of the benefits of the Senior
Documents) hereby authorizes the Senior Collateral Agent, upon the payment in full of the Senior
Obligations, to deliver to the Junior Collateral Agent the Senior Obligations Collateral held or
received by it, together with any necessary endorsement and any other proceeds of Senior
Obligations Collateral held by it.

          (f) The Senior Collateral Agent and the Junior Collateral Agent shall each be entitled to rely
upon any certificate, notice, consent or other instrument in writing (including any facsimile
transmission) believed by such Senior Collateral Agent to be genuine and correct and to have been
signed or sent or made by or on behalf of a proper Person.

          (g) In furtherance and not in limitation of the provisions of this Section 5.5, in any
Insolvency or Liquidation Proceeding commenced by or against a Loan Party, the Senior Collateral
Agent may file proofs of claim or statements of interest on behalf of the Junior Obligations
Secured Parties with respect to the Junior Obligations.

          (h) The Borrower and each other Loan Party agrees that each Junior Obligations Collateral
Document shall include the following language (or language to similar effect approved by the Senior
Collateral Agent):

“Notwithstanding anything herein to the contrary, the lien and security interest
granted to the [Junior Collateral Agent] pursuant to this Agreement and the exercise
of any right or remedy by the [Junior Collateral Agent] hereunder with respect to
the [Revolving Facility First Lien Collateral] [Term Facility First Lien Collateral]
are subject to the provisions of the Intercreditor Agreement, dated as of January
31, 2008 (as amended, amended and restated, supplemented or otherwise modified from
time to time, the "Intercreditor Agreement"), among Citicorp USA, Inc., as Term
Facility Administrative Agent, and Citicorp USA, Inc., as Term Facility Collateral
Agent, Citicorp USA, Inc., as Revolving Facility Administrative Agent and as
Revolving Facility Collateral Agent, Dana Holding Corporation and certain other
persons party or that may become party thereto from time to time. As among the
Revolving Facility Secured Parties and the Term Facility Secured Parties, in the
event of any conflict between the terms of

DANA — Intercreditor Agreement

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the Intercreditor Agreement and this Agreement, the terms of the Intercreditor
Agreement shall govern and control.”

          5.6 Purchase Option

          (a) Upon the occurrence and during the continuance of an Revolving Facility Event of Default
set forth in Section 6.01(a) or Section 6.01(f) of the Revolving Facility Credit Agreement and upon
receipt by the Term Facility Administrative Agent of notice from the Revolving Facility
Administrative Agent of (i) the acceleration of the Revolving Facility Obligations or (ii) the
enforcement of the rights and remedies of the Revolving Facility Collateral Agent or the other
Revolving Facility Secured Parties with respect to the Revolving Facility Collateral, the Term
Facility Lenders shall have the option to purchase pursuant to an Assignment and Acceptance all,
but not less than all, of the Revolving Facility Obligations outstanding at the time of such
purchase or, in the case of the Secured Hedge Agreements, an amount equal to the Agreement Value
(as defined in the Revolving Facility Credit Agreement) and all other rights and claims of the
Revolving Facility Secured Parties (each of the Revolving Facility Secured Parties so agreeing by
its acceptance of the benefits of the Revolving Facility Loan Documents), and, upon any such
purchase, such Term Facility Lenders shall assume and the applicable Revolving Facility Lenders
shall be relieved of their obligations under the Revolving Facility Loan Documents (including,
without limitation, any obligation to advance any further monies or participate in Letters of
Credit), for a purchase price equal to the aggregate outstanding principal amount of the Revolving
Facility Obligations owing to the Revolving Facility Lenders or, in the case of the Secured Hedge
Agreements, an amount equal to the Agreement Value (as defined in the Revolving Facility Credit
Agreement), together with accrued interest thereon to the date of payment of such principal amount
and all other amounts payable to such Revolving Facility Lenders under the Revolving Facility Loan
Documents.

          (b) The Term Facility Administrative Agent shall be provided with at least five (5) Business
Days’ prior written notice of any acceleration or enforcement, of the Revolving Facility
Obligations and shall during such period have the option to provide five (5) Business Days’ prior
written irrevocable notice of the exercise of its purchase option in connection therewith;
provided, however, in the event of any Exigent Circumstance that results in any
such acceleration or enforcement, the Revolving Facility Administrative Agent shall not be required
to give such five (5) Business Days’ notice and shall instead give such notice as soon as
practicable, and the Lenders shall have five (5) Business Days after the receipt of such notice to
provide written irrevocable notice of the exercise of their purchase option.

          5.7 Amendments to Senior Documents and Junior Documents

          (a) The Term Facility Documents and the Term Facility Credit Agreement may be amended,
supplemented, waived, departed from or otherwise modified in accordance with their terms, and the
Term Facility Credit Agreement may be Refinanced with the same or different lenders or
representatives in a Refinancing, in each case without the consent of the Revolving Facility
Administrative Agent, the Revolving Facility Lenders, the Revolving Facility Collateral Agent or
the Revolving Facility Secured Parties; provided, however, that the holders of any
such Refinancing must bind themselves in writing to the terms of this Agreement and any

DANA — Intercreditor Agreement

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such amendment, supplement, modification or Refinancing shall not be made without the consent
of the Revolving Facility Administrative Agent if the effect is to:

     (i) increase the principal amount of the Term Facility Obligations to an amount in
excess of the applicable Maximum Obligations Amount,

     (ii) increase any applicable interest rate margins by more than 2% per annum, except
in connection with the imposition of a default rate of interest in accordance with the terms
of the Term Facility Documents, the application of pricing grid or the incurrence of
incremental loans (as in effect on the date hereof or as permitted to be amended hereby),

     (iii) INTENTIONALLY OMITTED,

     (iv) directly prohibit or restrict the payment of principal of, interest on, or other
amounts payable with respect to the Revolving Facility Obligations in a manner that is more
restrictive than the prohibitions and restrictions currently contained in the Term Facility
Credit Agreement, or

     (v) subordinate in right of payment any of the Term Facility Obligations, or
subordinate the Senior Liens on the Term Facility First Lien Collateral securing the Term
Facility Obligations (other than in a manner consistent with the terms of the Term Facility
Credit Agreement as in effect on the date hereof or as permitted to be amended hereby).

          (b) The Revolving Facility Documents and the Revolving Facility Credit Agreement may be
amended, supplemented, waived, departed from or otherwise modified in accordance with their terms
and the Revolving Facility Credit Agreement may be Refinanced with the same or different lenders or
representatives in a Refinancing, in each case without the consent of the Term Facility
Administrative Agent, the Term Facility Lenders, the Term Facility Collateral Agent or the Term
Facility Secured Parties; provided, however, that the holders of any such
Refinancing debt must bind themselves in writing to the terms of this Agreement and any such
amendment, supplement, modification or Refinancing shall not be made without the consent of the
Term Facility Administrative Agent if the effect is to:

     (i) increase the maximum principal amount of the Revolving Facility Obligations
to an amount in excess of the applicable Maximum Obligations Amount,

     (ii) increase any applicable interest rate margins by more than 2% per annum,
except in connection with the imposition of a default rate of interest in accordance
with the terms of the Revolving Facility Documents, the application of pricing grid
or the incurrence of incremental loans (as in effect on the date hereof or as
permitted to be amended hereby),

     (iii) INTENTIONALLY OMITTED,

DANA — Intercreditor Agreement

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     (iv) directly prohibit or restrict the payment of principal of, interest on, or
other amounts payable with respect to the Term Facility Obligations in a manner that
is more restrictive than the prohibitions and restrictions currently contained in
the Revolving Facility Credit Agreement, or

     (v) subordinate in right of payment any of the Revolving Facility Obligations,
or subordinate the Senior Liens on the Revolving Facility First Lien Collateral
securing the Revolving Facility Obligations (other than in a manner consistent with
the terms of the Revolving Facility Credit Agreement as in effect on the date hereof
or as permitted to be amended hereby).

          (c) Notwithstanding anything contained in this Agreement to the contrary, in the event any
Senior Collateral Agent or the Senior Obligations Secured Parties and the relevant Loan Party enter
into any amendment, waiver or consent in respect of any of the Senior Obligations Collateral
Documents for the purpose of adding to, or deleting from, or waiving or consenting to any
departures from any provisions of, any Senior Document or changing in any manner the rights of the
Senior Collateral Agent, such Senior Obligations Secured Parties, the Borrower or any other Loan
Party thereunder, then such amendment, waiver or consent shall apply automatically to any
comparable provision of the comparable Junior Obligations Collateral Document without the consent
of the Junior Collateral Agent or the Junior Obligations Secured Parties and without any action by
the Junior Collateral Agent, the Borrower or any other Grantor, provided, however,
that

     (i) no such amendment, waiver or consent shall have the effect of

     (A) removing assets subject to Junior Liens under the Junior Obligations Collateral
Documents, except to the extent that a release of such Junior Liens are permitted or
required by Section 5.1 of this Agreement or, for the avoidance of doubt, in
connection with an exercise of remedies under Section 3.1 of this Agreement the
proceeds of which are used to pay Senior Obligations, in each case provided that there is a
corresponding release of such Liens securing the Senior Obligations or

     (B) imposing duties on the Junior Collateral Agent without its consent and

     (ii) notice of such amendment, waiver or consent shall have been given to the Junior
Collateral Agent by the Senior Collateral Agent or the Senior Administrative Agent within
ten (10) Business Days after the effective date of such amendment, waiver or consent.

          5.8 Actions in Connection with Certain Refinancings

          If, at any time concurrently with or after the Senior Obligations are deemed for purposes of
this Agreement “paid in full”, any Loan Party enters into a Refinancing of any Senior Obligations,
then the obligations under such Refinancing shall automatically and immediately be treated as
Senior Obligations for all purposes of this Agreement, including for purposes of the Lien
priorities and rights in respect of Senior Obligations Collateral set forth herein, and the Senior
Collateral Agent under the documents and other instruments evidencing

DANA — Intercreditor Agreement

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such Refinancing (the “New Senior Agent”) shall be deemed to be the Senior Collateral Agent,
and such agreements and other instruments shall be “Senior Documents” for all purposes of this
Agreement and the New Senior Agent shall bind itself in a joinder agreement to this Agreement or
other writing, reasonably acceptable to the Junior Administrative Agent.

          Section 6.Insolvency or Liquidation Proceedings

          6.1 Financing Issues; Adequate Protection

          If any Loan Party shall be subject to any Insolvency or Liquidation Proceeding, the Junior
Collateral Agent and each Junior Obligations Secured Party (by its acceptance of the benefits of
the Junior Documents) agrees that (a) if the Senior Collateral Agent shall desire to permit the use
of cash collateral or to permit the Loan Parties (or any of them) to obtain financing under section
363 or section 364 of the Bankruptcy Code (“DIP Financing”), the Junior Collateral Agent will not
raise any objection to and will not contest (or support any Person in objecting to or contesting)
such use of cash collateral or DIP Financing, and (b) the Junior Collateral Agent will not raise
any objection to and will not contest (or support any Person in objecting to or contesting) (x) any
request by the Senior Collateral Agent or the Senior Obligations Secured Parties for Adequate
Protection or (y) any objection by the Senior Collateral Agent or the other Senior Obligations
Secured Parties to any motion, relief, action or proceeding based on the Senior Obligations Secured
Parties claiming a lack of Adequate Protection. Notwithstanding the foregoing, such agreement of
the Junior Collateral Agent and each Junior Obligations Secured Party is conditioned upon: (i) any
such use of cash collateral or DIP Financing not modifying the terms of this Agreement without the
approval of the Junior Obligations Required Lenders required to consent thereto pursuant to
Section 8.3, (ii) the Junior Collateral Agent, on behalf of itself and on behalf of the
Junior Obligations Secured Parties, being able to seek the benefit of a replacement Lien on the
Collateral (including proceeds thereof arising after the commencement of any Insolvency or
Liquidation Proceeding) or a Lien on additional collateral, and (iii) the Junior Collateral Agent,
on behalf of itself and on behalf of the Junior Obligations Secured Parties, being able to seek
post-petition interest without any objection thereto or contest thereof (or the support of any
other Person objecting to or contesting the same) being made by the Senior Collateral Agent;
provided, however, that (x) unless and until all Senior Obligations shall have been paid in full,
any request by such Junior Collateral Agent or any Junior Obligations Secured Party for Adequate
Protection in the form of a replacement Lien on Senior Obligations Collateral or a Lien on
additional collateral shall be conditioned on the receipt by the Senior Collateral Agent, on behalf
of the Senior Obligations Secured Parties, of a Lien on such Senior Obligations Collateral or
additional collateral and (y) any Lien on such Senior Obligations Collateral or additional
collateral securing the Junior Obligations shall be subordinated in priority to the Liens on such
collateral securing the Senior Obligations and any other Liens granted to the Senior Collateral
Agent or the Senior Obligations Secured Parties as Adequate Protection on the same basis as the
Liens on the Collateral in favor of the Junior Collateral Agent are subordinated in priority in
favor of the Senior Collateral Agent pursuant to the terms and conditions of this Agreement. To
the extent the Liens securing the Senior Obligations are subordinated in priority or pari passu
with such DIP Financing, the Junior Collateral Agent will subordinate the priority of its Liens on
the Senior Obligations Collateral to such DIP Financing and all Senior Obligations relating thereto
on the same basis as the Liens

 DANA — Intercreditor Agreement

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securing the Junior Obligations are subordinated to the other Senior Obligations under this
Agreement.

          6.2 Relief from the Automatic Stay

          The Junior Collateral Agent and each Junior Obligations Secured Party (by its acceptance of
the benefits of the Junior Documents) agrees that it will not seek relief from the automatic stay
or any other stay in any Insolvency or Liquidation Proceeding in respect of the Senior Obligations
Collateral, without the prior written consent of the Senior Collateral Agent and the Senior
Obligations Required Lenders.

          6.3 No Waiver

          Except as provided in Sections 3.1 and 6.1, nothing contained herein shall
prohibit or in any way limit the Senior Collateral Agent or any Senior Obligations Secured Party
from objecting in any Insolvency or Liquidation Proceeding or otherwise to any action taken by the
Junior Collateral Agent or any Junior Obligations Secured Party, including, without limitation, the
seeking by the Junior Collateral Agent or any Junior Obligations Secured Party of Adequate
Protection or the asserting by any Junior Obligations Secured Party of any of its rights and
remedies under the Junior Documents or otherwise.

          6.4 Preference Issues

          If any Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to
turn over or otherwise pay to the estate of the Borrower or the estate of any other Loan Party any
amount (a “Recovery”), then the Obligations of such Secured Party shall be reinstated to the extent
of such Recovery and such Secured Party shall be entitled to receive payment in full of all such
recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this
Agreement shall be reinstated in full force and effect, and such prior termination shall not
diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto.

          Section 7.Waivers; etc.

          7.1 No Waiver of Provisions

          (a) No right of any party to enforce any provision of this Agreement shall at any time in any
way be prejudiced or impaired by any act or failure to act on the part of the Borrower or any of
the other Loan Parties or by any act or failure to act by any Person, or by any noncompliance by
any Person with the terms, provisions and covenants of this Agreement or any of the Loan Documents,
regardless of any knowledge thereof which the Senior Administrative Agent, Senior Collateral Agent,
the Senior Obligations Secured Parties, the Junior Administrative Agent, Junior Collateral Agent,
the Junior Obligations Secured Parties or any of them, may have or be otherwise charged with.

          (b) Each of the Junior Collateral Agent and each Junior Obligations Secured Party (by its
acceptance of the benefits of the Junior Documents) agrees that the Senior

DANA — Intercreditor Agreement

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Obligations Secured Parties and the Senior Collateral Agent shall have no liability to the
Junior Collateral Agent or any Junior Obligations Secured Parties, and the Junior Collateral Agent
and each Junior Obligations Secured Party hereby (by its acceptance of the benefits of the Junior
Documents) waives any claim against any Senior Obligations Secured Party or the Senior Collateral
Agent arising out of any and all actions which any of the Senior Obligations Secured Parties or the
Senior Collateral Agent may take or permit or omit to take with respect to (i) the Senior
Documents, (ii) the collection of the Senior Obligations or (iii) the foreclosure upon, or sale,
liquidation or other disposition of, the Senior Obligations Collateral (except only, in the case of
Senior Obligations Collateral, to the extent such foreclosure, sale, liquidation or other
disposition is not made in a commercially reasonable manner in accordance with the UCC or contrary
to this Agreement or the other Senior Documents). The Junior Collateral Agent and each Junior
Obligations Secured Party (by its acceptance of the benefits of the Junior Documents) agrees that
the Senior Collateral Agent and the Senior Obligations Secured Parties have no duty to them in
respect of the maintenance or preservation of the Collateral.

          (c) Unless and until the Senior Obligations are paid in full, the Junior Collateral Agent and
each Junior Obligations Secured Party (by its acceptance of the benefits of the Junior Documents)
agrees not to assert and hereby waives, to the fullest extent permitted by law, any right to
demand, request, plead or otherwise assert or otherwise claim the benefit of, any marshaling,
appraisal, valuation or other similar right that may otherwise be available under applicable law or
any other similar rights a secured creditor may have under applicable law.

          7.2 Obligations Unconditional

          All rights, interests, agreements and obligations of the Senior Collateral Agent and the
Senior Obligations Secured Parties and the Junior Collateral Agent and the Junior Obligations
Secured Parties, respectively, hereunder shall remain in full force and effect irrespective of:

     (a) any lack of validity or enforceability of any Loan Documents;

     (b) any change in the time, manner or place of payment of, or in any other terms of,
all or any of the Senior Obligations or Junior Obligations, or any amendment or waiver or
other modification, including, without limitation, any increase in the amount thereof,
whether by course of conduct or otherwise, of the terms of either Credit Agreement or of the
terms of any of the other Loan Documents made in accordance with their terms;

     (c) any exchange, release or nonperfection of any security interest in any Collateral
or any other collateral, or any release, amendment, waiver or other modification, whether in
writing or by course of conduct or otherwise, of all or any of the Senior Obligations or
Junior Obligations or any guarantee thereof;

     (d) the commencement of any Insolvency or Liquidation Proceeding; or

     (e) any other circumstances which otherwise might constitute a defense available to, or
a discharge of, the Borrower or any other Loan Party in respect of the

DANA — Intercreditor Agreement

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Senior Obligations, or of any Junior Obligations Secured Party in respect of this
Agreement;

provided, however, that nothing in this Section 7.2 shall be construed to modify or amend
the provisions of Section 5.7 of this Agreement.

          Section 8.Miscellaneous

          8.1 Conflicts

          Except as expressly provided herein, in the event of any conflict between the provisions of
this Agreement and the provisions of any other Loan Document, the provisions of this Agreement
shall govern as among the Revolving Facility Secured Parties and the Term Facility Secured Parties.
It is further expressly understood that the Lien priorities and other terms referred to herein
shall not in any way modify or relieve the Borrower or any other Loan Party of or from any
liability or obligation that the Borrower or any other Loan Party may have to the Senior
Obligations Secured Parties and the Junior Obligations Secured Parties under the applicable Credit
Agreement or any of the other applicable Loan Documents.

          8.2 Continuing Nature of this Agreement

          This Agreement (other than the provisions in Section 3.2) shall continue to be
effective until all Obligations have been paid in full. This is a continuing agreement of lien
subordination and the Senior Obligations Secured Parties may continue, at any time and without
notice to the Junior Collateral Agent or any Junior Obligations Secured Party, to extend credit and
other financial accommodations and lend monies to or for the benefit of the Borrower or any
Subsidiary on the faith hereof. Except as expressly provided herein, the Junior Collateral Agent
and each Junior Obligations Secured Party (by its acceptance of the benefits of the Junior
Documents) hereby waives any right it may have under applicable law to revoke this Agreement or any
of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue
in full force and effect, in any Insolvency or Liquidation Proceeding.

          8.3 Amendments; Waivers

          No amendment, modification or waiver of any of the provisions of this Agreement shall be
deemed to be made unless the same is made by the Borrower, the Revolving Facility Administrative
Agent and the Term Facility Administrative Agent.

          8.4 Notices

          Unless otherwise specifically provided herein, any notice or other communication herein
required or permitted to be given shall be made in accordance with Section 10.02 of the
Credit Agreements or in accordance with Section 24 of the Revolving Facility Security
Agreements and Section 23 of the Term Facility Security Agreement in the case of any Loan
Party other than the Borrower.

 DANA — Intercreditor Agreement

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          8.5 Further Assurances

          The Junior Collateral Agent and each Junior Obligations Secured Party (by its acceptance of
the benefits of the Junior Documents) agrees that each of them shall, at the Borrower’s expense,
take such further action and shall execute and deliver to the Senior Collateral Agent and the
Senior Obligations Secured Parties such additional documents and instruments (in recordable form,
if requested) as the Senior Collateral Agent or the other Senior Obligations Secured Parties may
reasonably request to effectuate the terms of and the Lien subordination contemplated by this
Agreement.

          8.6 Governing Law

          This Agreement shall be governed by, and construed in accordance with, the law of the State of
New York.

          8.7 Specific Performance

          Each of the Agents and the Secured Parties may demand specific performance of this Agreement.
Each of the Senior Collateral Agent and each Senior Obligations Secured Party (by its acceptance of
the benefits of the Senior Documents), the Junior Collateral Agent and each Junior Obligations
Secured Party (by its acceptance of the benefits of the Junior Documents), as the case may be,
hereby irrevocably waives any defense based on the adequacy of a remedy at law and any other
defense which might be asserted to bar the remedy of specific performance in any action which may
be brought by the other Person.

          8.8 Section Titles; Time Periods

          The section titles contained in this Agreement are and shall be without substantive meaning or
content of any kind whatsoever and are not a part of this Agreement, except when used to reference
such sections. In the computation of time periods, unless otherwise specified, the word “from”
means “from and including” and each of the words “to” and “until” means “to but excluding” and the
word “through” means “to and including”. The term “including” when used in this Agreement means
“including without limitation”, except when used in the computation of time periods.

          8.9 Counterparts

          This Agreement may be executed in one or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. Delivery by
telecopier of an executed counterpart of a signature page to this Agreement shall be effective as
delivery of an original executed counterpart of this Agreement. The Agents may also require that
any such documents and signatures delivered by telecopier be confirmed by a manually-signed
original thereof; provided that the failure to request or deliver the same shall not limit the
effectiveness of any document or signature delivered by telecopier.

DANA — Intercreditor Agreement

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          8.10 Effectiveness

           This Agreement shall become effective when executed and delivered by the parties hereto. This
Agreement shall be effective both before and after the commencement of any Insolvency or
Liquidation Proceeding. All references to the Borrower or any other Loan Party shall include the
Borrower or such other Loan Party as debtor and debtor-in-possession and any receiver or trustee
for the Borrower or such other Loan Party (as the case may be) in any Insolvency or Liquidation
Proceeding.

[Signature Pages Follow]

 DANA — Intercreditor Agreement

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

	 	 	 	 	 
	 	CITICORP USA, INC., as Senior Collateral Agent and Junior Collateral Agent

 	 
	 	By:  	/s/
Dale E. Goncher	 
	 	 	Name:  	Dale E. Goncher	 
	 	 	Title:  	Vice President	 
	 
	 	CITICORP USA, INC., as Senior Administrative Agent and Junior Administrative Agent

 	 
	 	By:  	/s/
Dale E. Goncher	 
	 	 	Name:  	Dale E. Goncher	 
	 	 	Title:  	Vice President	 

DANA — Intercreditor Agreement

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	DANA HOLDING CORPORATION, as Borrower

 	 
	 	By:  	/s/
Kenneth A. Hiltz	 
	 	 	Name:  	Kenneth A. Hiltz	 
	 	 	Title:  	Chief Financial Officer	 
	 
	 	By:  	/s/
Teresa L. Mulawa	 
	 	 	Name:  	Teresa L. Mulawa	 
	 	 	Title:  	Treasurer	 
	 

DANA — Intercreditor Agreement

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