Exhibit 5(b)
[LETTERHEAD OF THE GOODYEAR TIRE & RUBBER COMPANY]
March 17, 2022
The Goodyear Tire & Rubber Company
200 Innovation Way
Akron, Ohio 44316-0001
Ladies and Gentlemen:
I am the Senior Vice President and General Counsel of The Goodyear Tire & Rubber Company, an Ohio corporation (the “Company”), and am rendering this opinion in connection with the registration by the Company under the Securities Act of 1933, as amended (the “Act”), of (i) up to $850,000,000 aggregate principal amount of its 5.000% Senior Notes due 2029 (the “2029 Exchange Notes”) and up to $600,000,000 aggregate principal amount of its 5.250% Senior Notes due 2031 (the “2031 Exchange Notes” and, together with the 2029 Exchange Notes, the “Exchange Notes”) and (ii) guarantees of the Exchange Notes (the “Guarantees”) by certain subsidiaries of the Company listed on Schedule A hereto (collectively, the “Subsidiary Guarantors”), pursuant to the registration statement on Form S-4, filed with the Securities and Exchange Commission (the “Commission”) on the date hereof (such registration statement hereinafter referred to as the “Registration Statement”). As described in the Registration Statement, the 2029 Exchange Notes and related Guarantees will be exchanged for the Company’s outstanding 5.000% Senior Notes due 2029 (the “2029 Restricted Notes”) and related guarantees, and the 2031 Exchange Notes and related Guarantees will be exchanged for the Company’s outstanding 5.250% Senior Notes due 2031 (the “2031 Restricted Notes,” and, together with the 2029 Restricted Notes, the “Restricted Notes”) and related guarantees. The Company will issue the Exchange Notes and the Subsidiary Guarantors will provide the Guarantees, in each case, pursuant to the indenture, dated as of August 13, 2010 (the “Base Indenture”), among the Company, the Subsidiary Guarantors and Wells Fargo Bank, N.A., as trustee (the “Trustee”), as supplemented by the Tenth Supplemental Indenture, in respect of the 2029 Restricted Notes and 2029 Exchange Notes, dated as of May 18, 2021 (as thereafter supplemented to add new Subsidiary Guarantors, the “Tenth Supplemental Indenture”), and as supplemented by the Eleventh Supplemental Indenture, in respect of the 2031 Restricted Notes and 2031 Exchange Notes, dated as of May 18, 2021 (as thereafter supplemented to add new Subsidiary Guarantors, the “Eleventh Supplemental Indenture”) (the Base Indenture, as supplemented by the Tenth Supplemental Indenture with respect to the 2029 Restricted Notes and 2029 Exchange Notes and as supplemented by the Eleventh Supplemental Indenture with respect to the 2031 Restricted Notes and 2031 Exchange Notes, as applicable, the “Indenture”), among the Company, the Subsidiary Guarantors and the Trustee.
I, or members of my staff, have reviewed such corporate records, certificates and other documents, and such questions of law, as we have considered necessary or appropriate for the purposes of this opinion. I have assumed that all signatures are genuine, that all documents submitted to me as originals are authentic and that all copies of documents submitted to me conform to the originals.
I have relied as to certain matters on information obtained from public officials, officers of the Company and the Subsidiary Guarantors, and other sources believed by me to be responsible.
Based upon the foregoing, I am of the opinion that:
(1) The Company is duly organized, validly existing and in good standing under the laws of the State of Ohio and possesses the requisite corporate power, authority and legal right to execute and deliver the Exchange Notes and the Indenture and to perform its obligations under each.
(2) The Company has duly authorized, executed and delivered the Exchange Notes and the Indenture.
(3) Each of the Subsidiary Guarantors listed on Schedule B hereto (the “Ohio Guarantors”) is duly organized, validly existing and in good standing under the laws of the State of Ohio and possesses the requisite corporate power, authority and legal right to execute and deliver the Guarantees and the Indenture and to perform its obligations under each.
(4) Each of the Ohio Guarantors has duly authorized, executed and delivered the Guarantees and the Indenture.
I am a member of the bar of the State of Ohio. I do not express any opinion herein on any laws other than the law of the State of Ohio.
I hereby consent to the filing of this opinion as Exhibit 5(b) to the Registration Statement. I also hereby consent to the reference to my name under the heading “Legal Matters” in the prospectus constituting part of the Registration Statement. In giving such consent, I do not thereby admit that I am in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission.
Sincerely yours,
/s/ David E. Phillips, Esq. |
SCHEDULE A
Subsidiary Guarantors
Subsidiary Guarantor | State of Incorporation or Formation | |
Celeron Corporation | Delaware | |
Cooper International Holding Corporation | Delaware | |
Cooper Receivables LLC | Delaware | |
Cooper Tire & Rubber Company | Delaware | |
Cooper Tire & Rubber Company Vietnam Holding, LLC | Delaware | |
Cooper Tire Holding Company | Ohio | |
Divested Companies Holding Company | Delaware | |
Divested Litchfield Park Properties, Inc. | Arizona | |
Goodyear Canada Inc. | Ontario, Canada | |
Goodyear Export Inc. | Delaware | |
Goodyear Farms, Inc. | Arizona | |
Goodyear International Corporation | Delaware | |
Goodyear Western Hemisphere Corporation | Delaware | |
Max-Trac Tire Co., Inc. | Ohio | |
Mickey Thompson Performance Racing Inc. | Ohio | |
Raben Tire Co., LLC | Indiana | |
T&WA, Inc. | Kentucky | |
Wingfoot Brands LLC | Delaware |
SCHEDULE B
Ohio Guarantors
Cooper Tire Holding Company
Max-Trac Tire Co., Inc.
Mickey Thompson Performance Racing Inc.