Petitioning creditor Spectrum Investment Partners LP partially waives its claim against debtors Allied Systems Holdings, Inc. and Allied Systems, Ltd. (L.P.) up to $5,000 to ensure it qualifies as an unsecured creditor under Section 303(b) of the Bankruptcy Code. Spectrum is owed over $21.5 million by the debtors and believes the debtors' assets are insufficient to satisfy the full claim, making it an undersecured creditor. However, the partial waiver of $5,000 ensures there is over $15,000 in unsecured claims among the three petitioning creditors, meeting the requirements to commence an involuntary Chapter 11 bankruptcy case against the debtors.

1. UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
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In re:
Chapter 11
ALLIED SYSTEMS HOLDINGS, INC.,
Case No. 11-L.[_ _]] (~)
Alleged Debtor.
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In re:
Chapter 11
ALLIED SYSTEMS, LTD. (L.P.),
CaseNo.ll-L[_ _]](~)
Alleged Debtor.
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PARTIAL WAIVER OF CLAIM OF PETITIONING CREDITOR
To The Honorable Judge Presiding in
The United States Bankruptcy Court
for the District of Delaware:
Spectrum Investment Partners LP ("Petitioning Creditor"), one of the petitioning
creditors in this involuntary Chapter 11 case, hereby represents and alleges as follows:
1. Concurrently with the execution and submission of this Partial Wavier of Claim,
Petitioning Creditor is one of three (3) creditors to sign an involuntary bankruptcy petition
naming (i) Allied Systems Holdings, Inc., and (ii) Allied Systems, Ltd. (L.P.) (together, the
"Debtors") as Chapter 11 debtors.
2. Debtors owe Petitioning Creditor, as of the filing date, at least $21.5 million
which is intended to be secured by, among other things, accounts, general intangibles, goods,
insurance, intellectual property, money, and receivables of the Debtors.

2. 3. Petitioning Creditor believes, after due inquiry that the assets of the Debtors are
insufficient to satisfy Petitioning Creditor's claim against the Debtors and that, therefore,
Petitioning Creditor is undersecured.
4. However, to the extent that there is any question that Petitioning Creditor is not a
qualified creditor pursuant to Section 303(b) of the Bankruptcy Code with respect to the
secured/unsecured status of its claim, it hereby waives its right to its security interests in any
assets of the Debtors up to, but no more than, the amount of$5,000.00.
5. Therefore, in conjunction with the other petitioning creditors acting together to
commence these cases, there is an aggregate of unsecured claims of at least $15,000.00 which
amount exceeds the requirements of Section 303(b) of the Bankruptcy Code.
Dated: May J.!J._, 2012 Spectrum Investment Partners LP
Wilmington, Delaware By: Spectrum Group Management LLC
By:o--7"-h'?:f<:--r:~b/'~-,---~~
Jeffi·e a r, anaging Member
1250 Broadwa , 19th Floor
New York, NY 10001