0000950123-05-001618 Sample Contracts

EXHIBIT 10.51 ================================================================= =============== LOAN AGREEMENT

Loan Agreement • February 11th, 2005 • Century Louisiana, Inc. • Primary production of aluminum • New York

• Contract Type
  Loan Agreement
• Filed
  February 11th, 2005
• Company
  Century Louisiana, Inc.
• Industry
  Primary production of aluminum
• Jurisdiction
  New York

ACCOUNTS PLEDGE AGREEMENT Dated 10 February, 2005 between Norðurál ehf. and Kaupthing Bank hf. as Security Trustee and Kaupthing Bank hf. and Landsbanki Íslands hf. as Account Banks

Accounts Pledge Agreement • February 11th, 2005 • Century Louisiana, Inc. • Primary production of aluminum

• Contract Type
  Accounts Pledge Agreement
• Filed
  February 11th, 2005
• Company
  Century Louisiana, Inc.
• Industry
  Primary production of aluminum

GENERAL BOND Dated 10 February 2005 between NORÐURÁL EHF and KAUPTHING BANK HF. as Security Trustee

General Bond • February 11th, 2005 • Century Louisiana, Inc. • Primary production of aluminum

• Contract Type
  General Bond
• Filed
  February 11th, 2005
• Company
  Century Louisiana, Inc.
• Industry
  Primary production of aluminum

This General Bond (this “General Bond”) is executed 10 February 2005 between Norðurál ehf., Id.No. 570297-2609 (hereinafter referred to as the “Borrower”) a company organised and operated under the laws of Iceland, whose principal office is located at Grundartanga, 301 Akranes and Kaupthing Bank hf. as agent and trustee (together with its successors, transferees and assigns in such capacity pursuant to the Loan Agreement referred to below, the “Security Trustee”) for each and any Secured Party (as defined below).

SECURITIES PLEDGE AGREEMENT DATED 10 FEBRUARY 2005 between Nordural Holdings I ehf. Nordural Holdings II ehf. and Norðurál ehf. and Kaupthing Bank hf. as Security Trustee

Securities Pledge Agreement • February 11th, 2005 • Century Louisiana, Inc. • Primary production of aluminum

• Contract Type
  Securities Pledge Agreement
• Filed
  February 11th, 2005
• Company
  Century Louisiana, Inc.
• Industry
  Primary production of aluminum

THIS SECURITIES PLEDGE AGREEMENT is dated February 10, 2005, between Norðurál ehf. (the “Borrower”), Nordural Holdings I ehf., Nordural Holdings II ehf., private limited liability companies organized and operated under the laws of Republic of Iceland who all have their chief executive offices located at Grundartangi, 301 Akranes, Iceland (the Borrower, Nordural Holdings I ehf. and Nordural Holdings II each a “Pledgor” collectively the “Pledgors”), and Kaupthing Bank hf., as agent and trustee (together with its successors, transferees and assigns in such capacity pursuant to the Loan Agreement referred to below, the “Security Trustee”) for the Secured Parties as defined below.