2.0% Uses in Applicable Interest Rates Clause

Applicable Interest Rates from Amended and Restated Credit Agreement

This Amended and Restated Credit Agreement is entered into as of June 5, 2014, by and among LYONDELLBASELL INDUSTRIES N.V., a naamloze vennootschap (a public limited liability company) formed under the laws of The Netherlands (the Company), LYB AMERICAS FINANCE COMPANY, a Delaware corporation (the Co-Borrower and, together with the Company, the Borrowers and each, a Borrower), the various institutions from time to time party to this Agreement as Lenders, BANK OF AMERICA, N.A. (Bank of America), as Administrative Agent, Swing Line Lender and L/C Issuer, CITIBANK, N.A. and DEUTSCHE BANK SECURITIES INC., as Syndication Agents, CITIBANK, N.A. and DEUTSCHE BANK AG NEW YORK BRANCH, each as L/C Issuers, MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, CITIGROUP GLOBAL MARKETS INC. and DEUTSCHE BANK SECURITIES INC., as Joint Lead Arrangers and Joint Bookrunners, and BARCLAYS BANK PLC, CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, HSBC BANK USA, NATIONAL ASSOCIATION, ING BANK N.V., JPMORGAN CHASE

Applicable Interest Rates. (a) Base Rate Loans. Subject to the provisions of clause (d) below, each Base Rate Loan shall bear interest (computed on the basis of a year of 365 or 366 days, as applicable, and the actual days elapsed) on the unpaid principal amount of such Loan from the date such Loan is advanced or created by conversion from a Eurocurrency Loan until the Termination Date (whether by acceleration or otherwise) at a rate per annum equal to the sum of the Applicable Margin plus the Base Rate from time to time in effect, payable in arrears on each Interest Payment Date and on the Termination Date (whether by acceleration or otherwise). (b) Eurocurrency Loans. Subject to the provisions of clause (d) below, each Eurocurrency Loan shall bear interest during each Interest Period it is outstanding (computed on the basis of a year of 360 days and actual days elapsed) on the unpaid principal amount thereof from the date such Loan is advanced, continued or created by conversion from a Base Rate Loan until the Termination Date (whether by acceleration or otherwise) at a rate per annum equal to the sum of (i) the Applicable Margin plus (ii) LIBOR applicable for such Interest Period, payable in arrears on each Interest Payment Date and on the Termination Date (whether by acceleration or otherwise). (c) Swing Line Loans. Subject to the provisions of clause (d) below, each Swing Line Loan shall bear interest (computed on the basis of (x) a year of 365 or 366 days, as applicable, and the actual days elapsed, in the case of a Swing Line Loan denominated in U.S. Dollars and (y) a year of 360 days and the actual days elapsed, in the case of a Swing Line Loan denominated in Euros) on the unpaid principal amount of such Loan from the date such Loan is advanced until the Termination Date (whether by acceleration or otherwise) at a rate per annum equal to (i) for each Swing Line Loan denominated in U.S. Dollars, the sum of (A) the Base Rate for each day plus (B) the Applicable Margin for Base Rate Loans and (ii) for each Swing Line Loan denominated in Euros, the sum of (A) the Euro Base Rate for each day plus (B) the Applicable Margin for Eurocurrency Loans. Such interest shall be payable in arrears on the earlier to occur of (x) the date ten Business Days after such Swing Line Loan is made and (ii) the Termination Date (whether by acceleration or otherwise). (d) Default Rate. Any overdue principal of or interest on any Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to 2.0% plus the rate otherwise applicable to such Loan as provided in this Section 2.03.

Applicable Interest Rates from Credit Agreement

This Credit Agreement dated as of May 9, 2014 (this "Agreement") is by and among Three Forks, Inc., a Colorado corporation (the "Borrower"), the lenders party hereto from time to time (the "Lenders"), and Guaranty Bank and Trust Company, as administrative agent for such Lenders (in such capacity, the "Administrative Agent").

Applicable Interest Rates. The Borrower shall pay interest on the unpaid principal amount of each Advance made by each Lender from the date of such Advance until such principal amount shall be paid in full, at the following rates per annum:

Applicable Interest Rates from Amended and Restated Credit Agreement

This Amended and Restated Credit Agreement is entered into as of June 5, 2014, by and among LYONDELLBASELL INDUSTRIES N.V., a naamloze vennootschap (a public limited liability company) formed under the laws of The Netherlands (the Company), LYB AMERICAS FINANCE COMPANY, a Delaware corporation (the Co-Borrower and, together with the Company, the Borrowers and each, a Borrower), the various institutions from time to time party to this Agreement as Lenders, BANK OF AMERICA, N.A. (Bank of America), as Administrative Agent, Swing Line Lender and L/C Issuer, DEUTSCHE BANK SECURITIES INC., as Syndication Agent, DEUTSCHE BANK AG NEW YORK BRANCH, as L/C Issuer, MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED and DEUTSCHE BANK SECURITIES INC., as Joint Lead Arrangers and Joint Bookrunners, and JPMORGAN CHASE BANK, N.A., CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, BARCLAYS BANK PLC, CITIBANK, N.A., HSBC BANK (USA), NATIONAL ASSOCIATION, ING BANK N.V., MORGAN STANLEY BANK, N.A. and WELLS FARGO BAN

Applicable Interest Rates. (a) Base Rate Loans. Subject to the provisions of clause (d) below, each Base Rate Loan shall bear interest (computed on the basis of a year of 365 or 366 days, as applicable, and the actual days elapsed) on the unpaid principal amount of such Loan from the date such Loan is advanced or created by conversion from a Eurocurrency Loan until the Termination Date (whether by acceleration or otherwise) at a rate per annum equal to the sum of the Applicable Margin plus the Base Rate from time to time in effect, payable in arrears on each Interest Payment Date and on the Termination Date (whether by acceleration or otherwise). (b) Eurocurrency Loans. Subject to the provisions of clause (d) below, each Eurocurrency Loan shall bear interest during each Interest Period it is outstanding (computed on the basis of a year of 360 days and actual days elapsed) on the unpaid principal amount thereof from the date such Loan is advanced, continued or created by conversion from a Base Rate Loan until the Termination Date (whether by acceleration or otherwise) at a rate per annum equal to the sum of (i) the Applicable Margin plus (ii) LIBOR applicable for such Interest Period, payable in arrears on each Interest Payment Date and on the Termination Date (whether by acceleration or otherwise). (c) Swing Line Loans. Subject to the provisions of clause (d) below, each Swing Line Loan shall bear interest (computed on the basis of (x) a year of 365 or 366 days, as applicable, and the actual days elapsed, in the case of a Swing Line Loan denominated in U.S. Dollars and (y) a year of 360 days and the actual days elapsed, in the case of a Swing Line Loan denominated in Euros) on the unpaid principal amount of such Loan from the date such Loan is advanced until the Termination Date (whether by acceleration or otherwise) at a rate per annum equal to (i) for each Swing Line Loan denominated in U.S. Dollars, the sum of (A) the Base Rate for each day plus (B) the Applicable Margin for Base Rate Loans and (ii) for each Swing Line Loan denominated in Euros, the sum of (A) the Euro Base Rate for each day plus (B) the Applicable Margin for Eurocurrency Loans. Such interest shall be payable in arrears on the earlier to occur of (x) the date ten Business Days after such Swing Line Loan is made and (ii) the Termination Date (whether by acceleration or otherwise). (d) Default Rate. Any overdue principal of or interest on any Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to 2.0% plus the rate otherwise applicable to such Loan as provided in this Section 2.03.

Applicable Interest Rates from Amended and Restated Credit Agreement

This Amended and Restated Credit Agreement is entered into as of January 15, 2014, by and among LONGTRAIN LEASING I, LLC, a Delaware limited liability company (the "Borrower"), AMERICAN RAILCAR INDUSTRIES, INC., a corporation organized in the State of North Dakota (the "Seller"), the various institutions from time to time party to this Agreement, as Lenders, and KEY EQUIPMENT FINANCE, A DIVISION OF KEYBANK NATIONAL ASSOCIATION, as Administrative Agent.

Applicable Interest Rates. (a) Eurodollar Loans. Each Eurodollar Loan made or maintained by a Lender shall bear interest during each Interest Period it is outstanding (computed on the basis of a year of 360 days and actual days elapsed) on the unpaid principal amount thereof from the date such Loan is advanced until, but excluding, the date of repayment thereof at a rate per annum equal to the Interest Rate applicable for such Interest Period, payable in arrears on each Payment Date and at maturity (whether by acceleration or otherwise).(b) Interest Reserve Amount. On the Business Day prior to each Payment Date, the Administrative Agent shall notify the Borrower of the Interest Reserve Amount required to be on deposit in the Interest Reserve Account as of such Payment Date. The amount (if any) by which the Interest Reserve Amount exceeds the amount then on deposit in the Interest Reserve Account shall be payable by the Borrower on such Payment Date. The excess (if any) by which the amount then on deposit in the Interest Reserve Account exceeds the Interest Reserve Amount shall be transferred from the Interest Reserve Account to the Cash Collateral Account on such Payment Date and such excess shall be distributed in accordance with the terms of this Agreement. Following the occurrence of an Early Amortization Event, at the direction of the Required Lenders, the Administrative Agent shall transfer all amounts on deposit in the Interest Reserve Account to the Cash Collateral Account on the Payment Date occurring after receipt by the Administrative Agent of such direction and all such amounts shall be distributed in accordance with the terms of this Agreement.(c) Default Interest Rate. While any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans owing by it at a rate per annum equal to the sum of 2.0% per annum plus the rate of interest in effect thereon at the time of such Event of Default (the "Default Interest Rate");provided, however, that in the absence of acceleration, any increase in interest rates pursuant to this Section 2.2(c) shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, accrued interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.(d) Rate Determinations. The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and the Interest Reserve Amount, and its determination thereof shall be conclusive and binding except in the case of manifest error.

Applicable Interest Rates from Credit Agreement

This Credit Agreement is entered into as of December 20, 2012, by and among LONGTRAIN LEASING I, LLC, a Delaware limited liability company (the Borrower), AMERICAN RAILCAR INDUSTRIES, INC., a corporation organized in the State of North Dakota (the Seller), the various institutions from time to time party to this Agreement, as Lenders, and FIFTH THIRD BANK, an Ohio banking corporation, as Administrative Agent.

Applicable Interest Rates. (a) Eurodollar Loans. Each Eurodollar Loan made or maintained by a Lender shall bear interest during each Interest Period it is outstanding (computed on the basis of a year of 360 days and actual days elapsed) on the unpaid principal amount thereof from the date such Loan is advanced until, but excluding, the date of repayment thereof at a rate per annum equal to the Interest Rate applicable for such Interest Period, payable in arrears on each Payment Date and at maturity (whether by acceleration or otherwise). Table of Contents (b) Interest Reserve Amount. On the Business Day prior to each Payment Date, the Administrative Agent shall notify the Borrower of the Interest Reserve Amount required to be on deposit in the Interest Reserve Account as of such Payment Date. The amount (if any) by which the Interest Reserve Amount exceeds the amount then on deposit in the Interest Reserve Account shall be payable by the Borrower on such Payment Date. The excess (if any) by which the amount then on deposit in the Interest Reserve Account exceeds the Interest Reserve Amount shall be transferred from the Interest Reserve Account to the Cash Collateral Account on such Payment Date and such excess shall be distributed in accordance with the terms of this Agreement. Following the occurrence of an Early Amortization Event, at the direction of the Required Lenders, the Administrative Agent shall transfer all amounts on deposit in the Interest Reserve Account to the Cash Collateral Account on the Payment Date occurring after receipt by the Administrative Agent of such direction and all such amounts shall be distributed in accordance with the terms of this Agreement. (c) Default Interest Rate. While any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans owing by it at a rate per annum equal to the sum of 2.0% per annum plus the rate of interest in effect thereon at the time of such Event of Default (the Default Interest Rate); provided, however, that in the absence of acceleration, any increase in interest rates pursuant to this Section 2.2(c) shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, accrued interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders. (d) Rate Determinations. The Administrative Agent shall determine each interest rate applicable to the Loans hereunder and the Interest Reserve Amount, and its determination thereof shall be conclusive and binding except in the case of manifest error.

Applicable Interest Rates from Credit Agreement

This Credit Agreement is entered into as of November 7, 2012, by and among DELEK LOGISTICS PARTNERS, LP, a Delaware limited partnership (the MLP), DELEK LOGISTICS OPERATING, LLC, a Delaware limited liability company (Delek Operating), DELEK MARKETING GP, LLC, a Delaware limited liability company (Delek Marketing GP), DELEK MARKETING & SUPPLY, LP, a Delaware limited partnership (Delek Marketing), DELEK CRUDE LOGISTICS, LLC, a Texas limited liability company (Delek Crude), DELEK MARKETING-BIG SANDY, LLC, a Texas limited liability company (Delek Big Sandy), MAGNOLIA PIPELINE COMPANY, LLC, a Delaware limited liability company (Magnolia), EL DORADO PIPELINE COMPANY, LLC, a Delaware limited liability company (El Dorado), SALA GATHERING SYSTEMS, LLC, a Texas limited liability company (SALA Gathering), and PALINE PIPELINE COMPANY, LLC, a Texas limited liability company (Paline) (the MLP, Delek Operating, Delek Marketing GP, Delek Marketing, Delek Crude, Delek Big Sandy, Magnolia, El Dorado, SA

Applicable Interest Rates. (a) Base Rate Loans. Each Base Rate Loan made or maintained by a Lender shall bear interest (computed on the basis of a year of 365 or 366 days, as the case may be, and the actual days elapsed) on the unpaid principal amount thereof from the date such Loan is advanced or created by conversion from a Eurodollar Loan until, but excluding, the date of repayment thereof at a rate per annum equal to the sum of the Applicable Margin plus the Base Rate from time to time in effect, payable in arrears on the last Business Day of each month and at maturity (whether by acceleration or otherwise). (b) Eurodollar Loans. Each Eurodollar Loan made or maintained by a Lender shall bear interest during each Interest Period it is outstanding (computed on the basis of a year of 360 days and actual days elapsed) on the unpaid principal amount thereof from the date such Loan is advanced, continued or created by conversion from a Base Rate Loan until, but excluding, the date of repayment thereof at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted LIBOR applicable for such Interest Period, payable in arrears on the last day of the Interest Period and at maturity (whether by acceleration or otherwise). (c) Default Rate. While any Event of Default exists or after acceleration, the Borrowers shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans owing by it at a rate per annum equal to:

Applicable Interest Rates from Credit Agreement

This Credit Agreement is entered into as of November 7, 2012, by and among DELEK LOGISTICS PARTNERS, LP, a Delaware limited partnership (the MLP), DELEK LOGISTICS OPERATING, LLC, a Delaware limited liability company (Delek Operating), DELEK MARKETING GP, LLC, a Delaware limited liability company (Delek Marketing GP), DELEK MARKETING & SUPPLY, LP, a Delaware limited partnership (Delek Marketing), DELEK CRUDE LOGISTICS, LLC, a Texas limited liability company (Delek Crude), DELEK MARKETING-BIG SANDY, LLC, a Texas limited liability company (Delek Big Sandy), MAGNOLIA PIPELINE COMPANY, LLC, a Delaware limited liability company (Magnolia), EL DORADO PIPELINE COMPANY, LLC, a Delaware limited liability company (El Dorado), SALA GATHERING SYSTEMS, LLC, a Texas limited liability company (SALA Gathering), and PALINE PIPELINE COMPANY, LLC, a Texas limited liability company (Paline) (the MLP, Delek Operating, Delek Marketing GP, Delek Marketing, Delek Crude, Delek Big Sandy, Magnolia, El Dorado, SA

Applicable Interest Rates. (a) Base Rate Loans. Each Base Rate Loan made or maintained by a Lender shall bear interest (computed on the basis of a year of 365 or 366 days, as the case may be, and the actual days elapsed) on the unpaid principal amount thereof from the date such Loan is advanced or created by conversion from a Eurodollar Loan until, but excluding, the date of repayment thereof at a rate per annum equal to the sum of the Applicable Margin plus the Base Rate from time to time in effect, payable in arrears on the last Business Day of each month and at maturity (whether by acceleration or otherwise). (b) Eurodollar Loans. Each Eurodollar Loan made or maintained by a Lender shall bear interest during each Interest Period it is outstanding (computed on the basis of a year of 360 days and actual days elapsed) on the unpaid principal amount thereof from the date such Loan is advanced, continued or created by conversion from a Base Rate Loan until, but excluding, the date of repayment thereof at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted LIBOR applicable for such Interest Period, payable in arrears on the last day of the Interest Period and at maturity (whether by acceleration or otherwise). (c) Default Rate. While any Event of Default exists or after acceleration, the Borrowers shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans owing by it at a rate per annum equal to:

Applicable Interest Rates from Credit Agreement

This Credit Agreement is entered into as of May 4, 2012, by and among LYONDELLBASELL INDUSTRIES N.V., a naamloze vennootschap (a public limited liability company) formed under the laws of The Netherlands (the Company), LYB AMERICAS FINANCE COMPANY, a Delaware corporation (the Co-Borrower and, together with the Company, the Borrowers and each, a Borrower), the various institutions from time to time party to this Agreement as Lenders, BANK OF AMERICA, N.A. (Bank of America), as Administrative Agent, Swing Line Lender and L/C Issuer, DEUTSCHE BANK SECURITIES INC., as Syndication Agent, DEUTSCHE BANK AG NEW YORK BRANCH, as L/C Issuer, MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED and DEUTSCHE BANK SECURITIES INC., as Joint Lead Arrangers and Joint Book Managers, and J.P. MORGAN SECURITIES LLC, CREDIT SUISSE SECURITIES (USA) LLC, BARCLAYS BANK PLC, CITIBANK, N.A., HSBC SECURITIES (USA) INC., ING BANK N.V. and WELLS FARGO SECURITIES, LLC, as Documentation Agents.

Applicable Interest Rates. a) Base Rate Loans. Subject to the provisions of clause (d) below, each Base Rate Loan shall bear interest (computed on the basis of a year of 365 or 366 days, as applicable, and the actual days elapsed) on the unpaid principal amount of such Loan from the date such Loan is advanced or created by conversion from a Eurocurrency Loan until the Termination Date (whether by acceleration or otherwise) at a rate per annum equal to the sum of the Applicable Margin plus the Base Rate from time to time in effect, payable in arrears on each Interest Payment Date and on the Termination Date (whether by acceleration or otherwise). (b) Eurocurrency Loans. Subject to the provisions of clause (d) below, each Eurocurrency Loan shall bear interest during each Interest Period it is outstanding (computed on the basis of a year of 360 days and actual days elapsed) on the unpaid principal amount thereof from the date such Loan is advanced, continued or created by conversion from a Base Rate Loan until the Termination Date (whether by acceleration or otherwise) at a rate per annum equal to the sum of (i) the Applicable Margin plus (ii) LIBOR applicable for such Interest Period plus (iii) (in the case of a Eurocurrency Loan of any Lender (x) which is lent from a Lending Office in the United Kingdom or a Participating Member State and (y) as to which such Lender shall have notified the Borrower and the Administrative Agent prior to the commencement of such Interest Period that an additional amount is due to it pursuant to this clause (iii)) the Mandatory Cost, payable in arrears on each Interest Payment Date and on the Termination Date (whether by acceleration or otherwise). (c) Swing Line Loans. Subject to the provisions of clause (d) below, each Swing Line Loan shall bear interest (computed on the basis of (x) a year of 365 or 366 days, as applicable, and the actual days elapsed, in the case of a Swing Line Loan denominated in U.S. Dollars and (y) a year of 360 days and the actual days elapsed, in the case of a Swing Line Loan denominated in Euros) on the unpaid principal amount of such Loan from the date such Loan is advanced until the Termination Date (whether by acceleration or otherwise) at a rate per annum equal to (x) for each Swing Line Loan denominated in U.S. Dollars, the rate applicable to Base Rate Loans and (y) for each Swing Line Loan denominated in Euros, the sum of (i) EONIA for each day plus (ii) the Applicable Margin for Eurocurrency Loans plus (iii) (in the case of a Swing Line Loan of the Swing Line Lender (A) which is lent from a Lending Office in the United Kingdom or a Participating Member State and (B) as to which such Swing Line Lender shall have notified the Borrower and the Administrative Agent prior to the making of such Loan that an additional amount is due to it pursuant to this clause (iii)) the Mandatory Cost. Such interest shall be payable in arrears on each Interest Payment Date and on the Termination Date (whether by acceleration or otherwise). (d) Default Rate. Any overdue principal of or interest on any Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to 2.0% plus the rate otherwise applicable to such Loan as provided in this Section 2.03. (e) Rate Determinations. Each Reference Bank agrees, if requested by the Administrative Agent, to furnish to the Administrative Agent timely information to the Administrative Agent for the purpose of determining LIBOR. If any one or more of the Reference Banks shall not furnish such timely information to the Administrative Agent for the purpose of determining any such interest rate, the Administrative Agent shall determine such interest rate on the basis of timely information furnished by the remaining Reference Banks. The Administrative Agent shall as soon as practicable notify the Borrower and the Lenders of each determination of LIBOR and of any change in the Base Rate or Applicable Margin. Each determination of an interest rate by the Administrative Agent or the Swing Line Lender, as applicable, pursuant to any provision of this Agreement shall be conclusive and binding except in the case of manifest error. The Administrative Agent shall, upon the request of the Company, deliver to the Company a statement showing the quotations from the Reference Banks used by the Administrative Agent in determining any interest rate pursuant to this Section 2.03.

Applicable Interest Rates from Multicurrency Credit Agreement

This Amended and Restated Multicurrency Credit Agreement (this Agreement) is entered into as of August 11, 2011, by and among Cliffs Natural Resources Inc., an Ohio corporation (the Company), certain Foreign Subsidiaries of the Company that may become a party hereto pursuant to Section 2.14 (each a Designated Borrower and, together with the Company, the Borrowers and, each a Borrower), the various institutions from time to time party to this Agreement as Lenders, Bank of America, N.A. (Bank of America), as Administrative Agent, Swing Line Lender and L/C Issuer, JPMorgan Chase Bank, N.A., as Syndication Agent and L/C Issuer, Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., PNC Capital Markets Inc. and U.S. Bank National Association, as Joint Lead Arrangers and Joint Book Managers, and Fifth Third Bank and RBS Citizens, N.A., as Co-Documentation Agents.

Applicable Interest Rates. a) Base Rate Loans. Subject to the provisions of clause (d) below, each Base Rate Loan made or maintained by a Lender shall bear interest (computed on the basis of a year of 365 or 366 days, as applicable, and the actual days elapsed) on the unpaid principal amount of such Loan from the date such Loan is advanced or created by conversion from a Eurocurrency Loan until the Termination Date (whether by acceleration or otherwise) at a rate per annum equal to the sum of the Applicable Margin plus the Base Rate from time to time in effect, payable in arrears on the last Business Day of each month and on the Termination Date (whether by acceleration or otherwise). (b) Eurocurrency Loans. Subject to the provisions of clause (d) below, each Eurocurrency Loan made or maintained by a Lender shall bear interest during each Interest Period it is outstanding (computed on the basis of a year of 360 days and actual days elapsed) on the unpaid principal amount thereof from the date such Loan is advanced, continued or created by conversion from a Base Rate Loan until the Termination Date (whether by acceleration or otherwise) at a rate per annum equal to the sum of the Applicable Margin plus LIBOR applicable for such Interest Period plus (in the case of a Eurocurrency Loan of any Lender which is lent from a Lending Office in the United Kingdom or a Participating Member State) the Mandatory Cost, payable in arrears on the last day of the Interest Period applicable to such Loan and on the Termination Date (whether by acceleration or otherwise), and, if the applicable Interest Period is longer than three months, on each day occurring every three months after the commencement of such Interest Period. (c) Swing Line Loans. Subject to the provisions of clause (d) below, each Swing Line Loan shall bear interest (computed on the basis of (x) a year of 365 or 366 days, as applicable, and the actual days elapsed, in the case of a Swing Line Loan denominated in U.S. Dollars and (y) a year of 360 days and the actual days elapsed, in the case of an AC Swing Line Loan) on the unpaid principal amount of such Loan from the date such Loan is advanced until the Termination Date (whether by acceleration or otherwise) at a rate per annum equal to (x) for each Swing Line Loan denominated in U.S. Dollars, the Base Rate or a quoted rate and (y) for each AC Swing Line Loan, the AC Swing Rate or a quoted rate plus (in the case of an AC Swing Line Loan of the Swing Line Lender which is lent from a Lending Office in the United Kingdom or a Participating Member State) the Mandatory Cost. Such interest shall be payable in arrears on the last Business Day of each month and on the Termination Date (whether by acceleration or otherwise). (d) Default Rate. While any Event of Default exists or after acceleration, the Borrowers shall pay interest (after as well as before entry of judgment thereon to the extent permitted by Law and before and after the commencement of any proceeding under any Debtor Relief Law) on the principal amount of all Loans owing by it at a rate per annum equal to:

Applicable Interest Rates from Term Loan Agreement

This Term Loan Agreement is entered into as of March 4, 2011, by and among Cliffs Natural Resources Inc., an Ohio corporation (the Borrower), the various institutions from time to time party to this Agreement as Lenders, and JPMorgan Chase Bank, N.A. (JPMCB), as Administrative Agent.

Applicable Interest Rates. a) Base Rate Loans. Subject to the provisions of clause (c) below, each Base Rate Loan made or maintained by a Lender shall bear interest (computed on the basis of a year of 365 or 366 days, as applicable, and the actual days elapsed) on the unpaid principal amount of such Loan from the date such Loan is advanced or created by conversion from a Eurodollar Loan until the Maturity Date (whether by acceleration or otherwise) at a rate per annum equal to the sum of the Applicable Margin plus the Base Rate from time to time in effect, payable in arrears on the last Business Day of each month and on the Maturity Date (whether by acceleration or otherwise). (b) Eurodollar Loans. Subject to the provisions of clause (c) below, each Eurodollar Loan made or maintained by a Lender shall bear interest during each Interest Period it is outstanding (computed on the basis of a year of 360 days and actual days elapsed) on the unpaid principal amount thereof from the date such Loan is advanced, continued or created by conversion from a Base Rate Loan until the Maturity Date (whether by acceleration or otherwise) at a rate per annum equal to the sum of the Applicable Margin plus LIBOR applicable for such Interest Period, payable in arrears on the last Business Day of each Interest Period applicable to such Loan and the Maturity Date and, if any applicable Interest Period is longer than three months, on each day occurring every three months after the commencement of such Interest Period. (c) Default Rate. While any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by Law and before and after the commencement of any proceeding under any Debtor Relief Law) on the principal amount of all Loans owing by it at a rate per annum equal to: