Negative Pledge. So long as the Credit Facility shall remain outstanding, Pledgor will not, without the prior written consent of Lender:

Negative Pledge. The Company will not itself, and will not permit any Manufacturing Subsidiary to, incur, issue, assume, guarantee or suffer to exist any notes, bonds, debentures or other similar evidences of indebtedness for money borrowed (notes, bonds, debentures or other similar evidences of indebtedness for money borrowed being herein called “Debt”), secured by pledge of, or mortgage or lien on, any Principal Domestic Manufacturing Property of the Company or any Manufacturing Subsidiary, or any shares of stock of or Debt of any Manufacturing Subsidiary (such mortgages, pledges and liens being hereinafter called “Pledge” or “Pledges”), without effectively providing that the Obligations (together with, if the Company shall so determine, any other Debt of the Company or of such Manufacturing Subsidiary then existing or thereafter created ranking equally with the Obligations) shall be secured equally and ratably with (or prior to) such secured Debt, so long as such secured Debt shall be so secured, unless, after giving effect thereto, the aggregate amount of all such secured Debt so secured plus all Attributable Debt of the Company and its Manufacturing Subsidiaries in respect of Sale and Leaseback Transactions would not exceed 5% of the Consolidated Net Tangible Automotive Assets; provided, however, that this [Section 7.5] shall not apply to Debt secured by:

Pledge. As security for the payment of all Liabilities, the Pledgor hereby pledges to GE for the benefit of GE, and grants to GE a continuing security interest in, all of the following:

Negative pledge

“Negative Pledge” means each of # the Negative Pledge Agreement by and between Administrative Agent and TMK IPSCO Canada, and # the Negative Pledge Agreement by and between Administrative Agent and Blytheville Finance Corporation, in each case, executed in connection with this Agreement, as the same may be amended, restated, supplemented, or modified from time to time.

SECTION #Negative Pledge.‌7987

Section # Negative Pledge 123130

Section # Negative Pledge 40

Negative Discretion. Notwithstanding any other provision of this [Section 9], the Committee retains the discretion to reduce the amount of any Award Opportunity, including a reduction of such amount to zero. By way of illustration, and not in limitation of the foregoing, the Committee may, in its discretion, determine # not to grant a pro-rated Award Opportunity pursuant to [Section 9].A above, # not to adjust an outstanding Award Opportunity pursuant to [Section 9].B above, # to grant a pro-rated Award Opportunity in a smaller amount than would otherwise be provided by [Section 9].A above, or # to adjust an outstanding Award Opportunity to produce a smaller Award Opportunity than would otherwise be provided by [Section 9].B above.

Negative Covenants. The following sections in the Loan Agreement shall be amended as follows: