Pittsboro Mill Acquisition

Pittsboro Mill Acquisition. Means the acquisition by a new wholly owned Subsidiary of the Borrower of all of the assets of a special bar quality mini-mill in Pittsboro, Indiana from Qualitech Steel SBQ LLC for aggregate consideration of no more than $45,000,000 in cash, all as further described in the letter dated August 5, 2002 from the Borrower to the Lenders, a copy of which is attached hereto as Annex A (the "Pittsboro Mill Letter").