Exhibit 10.5

EXECUTION COPY

AMENDMENT NO. 2

Dated as of August 25, 2006

to

PURCHASE AND SALE AGREEMENT

Dated as of November 30, 2000

This AMENDMENT NO. 2 (this “Amendment”) dated as of August 25, 2006 is entered
into between the VARIOUS ENTITIES LISTED ON SCHEDULE I HERETO AS ORIGINATORS
(each, an “Originator”; and collectively, the “Originators”), and WORTHINGTON
RECEIVABLES CORPORATION, a Delaware corporation (the “Company”).

RECITALS

WHEREAS, the parties hereto have entered into a certain Purchase and Sale
Agreement dated as of November 30, 2000 as amended by Amendment No. 1 dated
May 18, 2001 (the “Agreement”);

WHEREAS, the parties hereto wish to make certain changes to the Agreement as
herein provided;

NOW, THEREFORE, in consideration of the promises and the mutual agreements
contained herein and in the Agreement, the parties hereto agree as follows:

SECTION 1. Definitions. All capitalized terms not otherwise defined herein are
used as defined in the Agreement.

SECTION 2. Amendments to Agreement. The Agreement is hereby amended as follows:

2.1 Clause (f) of Section 6.3 of the Agreement is hereby amended and restated in
its entirety as follows:

(f) Location and Offices. Change its “location” (as such term is defined in the
UCC) or move its principal place of business and chief executive office and the
offices where it keeps its records concerning or related to the Receivables, to
a location or address other than the locations and addresses set forth on
Schedule 6.3(f) or, upon 30 days’ prior written notice to the Company and the
Administrator, at such other locations or addresses in jurisdictions where all
action required by Section 7.3 shall have been taken and completed.

2.2 Schedule I of the Agreement is hereby amended and restated in its entirety
as set forth on Schedule I attached hereto.

2.3 Schedule 5.6 of the Agreement is hereby amended and restated in its entirety
as set forth on Schedule 5.6 attached hereto.

 

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Amendment to the

Purchase and Sale Agreement

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2.4 Schedule 5.15 of the Agreement is hereby amended and restated in its
entirety as set forth on Schedule 5.6 attached hereto.

2.5 Schedule 6.1(f) of the Agreement is hereby amended and restated in its
entirety as set forth on Schedule 6.1(f) attached hereto.

SECTION 3. Miscellaneous.

3.1 Representations and Warranties. Each Originator and the Company hereby
makes, with respect to itself, the representations and warranties as follows:

(a) Representations and Warranties. The representations and warranties contained
in Article V of the Agreement of such Originators are true and correct as of the
date hereof (unless stated to relate solely to an earlier date, in which case
such representations and warranties were true and correct as of such earlier
date).

(b) Enforceability. The execution and delivery by such Person of this Amendment,
and the performance of its obligations under this Amendment and the Agreement,
as amended hereby, are within its organizational powers and have been duly
authorized by all necessary organizational action on its part. This Amendment
and the Agreement, as amended hereby, are its valid and legally binding
obligations, enforceable in accordance with its terms.

(c) Termination Event. No Purchase and Sale Termination Event or Unmatured
Purchase and Sale Termination Event has occurred and is continuing.

3.2 References to Agreement. Upon the effectiveness of this Amendment, each
reference in the Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”,
or words of like import shall mean and be a reference to the Agreement as
amended hereby, and each reference to the Agreement in any other document,
instrument or agreement executed and/or delivered in connection with the
Agreement shall mean and be a reference to the Agreement as amended hereby.

3.3 Effect on the Agreement. Except as specifically amended above, the Agreement
and all other documents, instruments and agreements executed and/or delivered in
connection therewith shall remain in full force and effect and are hereby
ratified and confirmed.

3.4 No Waiver. The execution, delivery and effectiveness of this Amendment shall
not operate as a waiver of any right, power or remedy of any party under the
Agreement or any other document, instrument or agreement executed in connection
therewith, nor constitute a waiver of any provision contained therein, except as
specifically set forth herein.

3.5 Governing Law. This Amendment, including the rights and duties of the
parties hereto, shall be governed by, and construed in accordance with, the laws
of the State of New York (without giving effect to the conflict of laws
principles thereof).

 

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3.6 Successors and Assigns. This Amendment shall be binding upon and shall inure
to the benefit of the parties hereto and their respective successors and
assigns.

3.7 Headings. The Section headings in this Amendment are inserted for
convenience of reference only and shall not affect the meaning or interpretation
of this Amendment or any provision hereof.

3.8 Counterparts. This Amendment may be executed by the parties hereto in
several counterparts, each of which shall be deemed to be an original and all of
which shall constitute together but one and the same agreement.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

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IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by
their respective officers thereunto duly authorized, as of the date first above
written.

 

WORTHINGTON RECEIVABLES CORPORATION By:  

/s/ Lester V. Hess

Name:   Lester V. Hess Title:   Treasurer

 

  S-1  

Amendment to the

Purchase and Sale Agreement

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ORIGINATORS: DIETRICH INDUSTRIES, INC. By:  

/s/ Lester V. Hess

Name:   Lester V. Hess Title:   Treasurer THE GERSTENSLAGER COMPANY By:  

/s/ Lester V. Hess

Name:   Lester V. Hess Title:   Treasurer

THE WORTHINGTON STEEL COMPANY,

a Delaware corporation

By:  

/s/ Lester V. Hess

Name:   Lester V. Hess Title:   Treasurer

THE WORTHINGTON STEEL COMPANY,

a North Carolina corporation

By:  

/s/ Lester V. Hess

Name:   Lester V. Hess Title:   Treasurer

THE WORTHINGTON STEEL COMPANY,

an Ohio corporation

By:  

/s/ Lester V. Hess

Name:   Lester V. Hess Title:   Treasurer

 

  S-2  

Amendment to the

Purchase and Sale Agreement

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WORTHINGTON CYLINDERS CORPORATION By:  

/s/ Lester V. Hess

Name:   Lester V. Hess Title:   Treasurer WORTHINGTON CYLINDERS WISCONSIN, LLC
By:  

/s/ Lester V. Hess

Name:   Lester V. Hess Title:   Treasurer WORTHINGTON STEEL COMPANY OF DECATUR,
L.L.C. By:  

/s/ Lester V. Hess

Name:   Lester V. Hess Title:   Treasurer WORTHINGTON STEEL COMPANY OF KENTUCKY,
LLC By:  

/s/ Lester V. Hess

Name:   Lester V. Hess Title:   Treasurer WORTHINGTON STEEL OF MICHIGAN, INC.
By:  

/s/ Lester V. Hess

Name:   Lester V. Hess Title:   Treasurer WORTHINGTON TAYLOR, INC. By:  

/s/ Lester V. Hess

Name:   Lester V. Hess Title:   Treasurer

 

  S-3  

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Purchase and Sale Agreement

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Schedule I

LIST OF ORIGINATORS

Dietrich Industries, Inc., a Pennsylvania Corporation

The Gerstenslager Company, a Michigan Corporation

The Worthington Steel Company, a Delaware corporation

The Worthington Steel Company, a North Carolina corporation

The Worthington Steel Company, an Ohio corporation

Worthington Cylinders Wisconsin, LLC, an Ohio limited liability company

Worthington Steel Company of Decatur, L.L.C., an Alabama limited liability
company

Worthington Steel Company of Kentucky, LLC, a Kentucky limited liability company

Worthington Steel of Michigan, Inc., a Michigan corporation

Worthington Taylor, Inc., a Michigan corporation

Worthington Cylinders Corporation, an Ohio Corporation

 

  Sch. I-1  

Amendment to the

Purchase and Sale Agreement

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Schedule 5.6

PROCEEDINGS

NONE

 

  Sch. 5.6-1  

Amendment to the

Purchase and Sale Agreement

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Schedule 5.15

TRADE NAMES

 

Legal Name

  

Trade Names

Dietrich Industries, Inc.   

Cimple Steel Solutions

Dietrich Design

Dietrich Metal Framing

Unimast

Worthington Industries

Worthington Steel

The Gerstenslager Company   

Gertenslager Company

Worthington Industries

Worthington Steel Company

The Worthington Steel Company, a Delaware corporation   

Worthington Steel – Malvern

Worthington Steel Company

The Worthington Steel Company, a North Carolina corporation   

Worthington Steel - Rock Hill

Worthington Steel Company

The Worthington Steel Company, an Ohio corporation   

Worthington Steel – Baltimore

Worthington Steel – Columbus

Worthington Steel – Delta

Worthington Steel – Monroe

Worthington Steel – Porter

Worthington Steel Company

Worthington Cylinders Corporation   

Worthington Cylinders

Worthington Industries

Worthington Cylinders Wisconsin, LLC   

Worthington Cylinders

Gerett Product

Worthington Industries

Worthington Steel Company of Decatur, L.L.C.   

Worthington Steel – Decatur

Worthington Steel Company

The Worthington Steel Company

Worthington Steel Company of Kentucky, LLC   

Worthington Steel – Louisville

Worthington Steel Company

The Worthington Steel Company

Worthington Steel of Michigan, Inc.   

Worthington Steel – Jackson

Worthington Steel Company

The Worthington Steel Company

Worthington Taylor, Inc.   

Worthington Taylor

Worthington Steel Company

Taylor Steel

Worthington Steel Taylor

Worthington Industries

 

  Sch. 5.15-1  

Amendment to the

Purchase and Sale Agreement

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The Worthington Steel Company, a Delaware corporation, was originally
incorporated as Worthington Ventures, Inc., a Delaware corporation, in March
1992. The Worthington Steel Company, a Pennsylvania corporation, which held the
Malvern, PA facility, merged with an into Worthington Ventures, Inc. on
November 26, 1996 as part of a corporate reorganization. Worthington Ventures,
Inc., a Delaware corporation, was the surviving entity and changed its name to
The Worthington Steel Company.

The Worthington Steel Company, an Ohio corporation, was originally incorporated
on February 10, 1998 as The Worthington Steel Company of Ohio, Inc. On May 22,
1998, as part of a corporate reorganization, its name was changed to the current
name, The Worthington Steel Company.

 

  Sch. 5.15-2  

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Purchase and Sale Agreement

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Schedule 6.3(f)

LOCATION OF EACH ORIGINATOR

 

Originator

 

Location

Dietrich Industries, Inc.   Pennsylvania The Gerstenslager Company   Michigan
The Worthington Steel Company, a Delaware corporation   Delaware The Worthington
Steel Company, a North Carolina corporation   North Carolina The Worthington
Steel Company, an Ohio corporation   Ohio Worthington Cylinders Corporation  
Ohio Worthington Cylinders Wisconsin, LLC   Ohio Worthington Steel Company of
Decatur, LLC   Alabama Worthington Steel Company of Kentucky, L.L.C.   Kentucky
Worthington Steel Company of Michigan, Inc.   Michigan Worthington Taylor, Inc.
  Michigan

 

  Sch. 6.3(f)-1  

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Purchase and Sale Agreement

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LOCATION OF CHIEF EXECUTIVE OFFICE AND PRINCIPAL PLACE OF

BUSINESS OF EACH ORIGINATOR

 

Originator

  

Location

Dietrich Industries, Inc.   

500 Grant Street, Suite 2226

Pittsburgh, PA 15219

  

8911 Bethlehem Blvd.

Baltimore, MS 21219

  

2001 Cooley Dr.

Colton, CA 92324

  

6700 Franklin St.

Denver, CO 80229

  

1435 165th St.

Hammond, IN 46320

  

1012 West Wintergreen Rd.

Hutchins, TX 75141

  

91-300 Hanua St.

Kapolei, HI 96707

  

120 Hoelocker Dr.

LaPorte, IN 46350

  

15546 W. 108th St.

Lenexa, KS 66219

  

198 Summer St.

Lunenburg, MA 01462

  

255 Northeast 181st St.

Miami, FL 33162

  

420 South 53rd Ave.

Phoenix, AZ 85043

  

3351 East Valley Rd.

Renton, WA 98055

  

1345 Hall Spencer Rd.

Rock Hill, SC 29730

 

  Sch. 6.3(f)-2  

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Purchase and Sale Agreement

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2525 South Airport Way

Stockton, CA 95206

  

1985 North River Road

Warren, OH 44483

  

721 Industrial Dr.

Wildwood, FL 34785

The Gerstenslager Company   

200 Old Wilson Bridge Road

Columbus, OH 43085

  

1425 East Bowman Street

Wooster, OH 44691

The Worthington Steel Company, a Delaware corporation   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

The Worthington Steel Company, a North Carolina corporation   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

  

1345 Hall Road

Rock Hill, South Carolina 29730

The Worthington Steel Company, an Ohio corporation   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

  

8911 Kelso Drive

Baltimore, Maryland 21221

  

1127 Dearborn Drive

Columbus, Ohio 43085

  

6303 County Road 10

Delta, Ohio 43515

  

100 Worthington Drive

Porter, Indiana 46304

  

350 Lawton Avenue

Monroe, Ohio 45050

Worthington Cylinders Corporation   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

  

1085 Dearborn Drive

Columbus, OH 43085

Worthington Cylinders Wisconsin, LLC   

200 Old Wilson Bridge Road

Columbus, OH 43085

 

  Sch. 6.3(f)-3  

Amendment to the

Purchase and Sale Agreement

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300 East Breed Street

Chilton, WI 53014

Worthington Steel Company of Decatur, LLC   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

  

1400 Red Hat Road, N.W.

Decatur, Alabama 35601

Worthington Steel Company of Kentucky, L.L.C.   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

  

1152 Industrial Boulevard

Louisville, Kentucky 40219

 

  Sch. 6.3(f)-4  

Amendment to the

Purchase and Sale Agreement

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Worthington Steel of Michigan, Inc.   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

  

200 Old Wilson Bridge Road

Columbus, Ohio 43085

Worthington Taylor, Inc.   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

  

11700 Worthington Drive

Taylor, MI 48180

 

  Sch. 6.3(f)-5  

Amendment to the

Purchase and Sale Agreement

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LOCATION OF BOOKS AND RECORDS OF ORIGINATORS

 

Originator

  

Location

Dietrich Industries, Inc.   

500 Grand Street, Suite 2226

Pittsburgh, PA 15219

  

8911 Bethlehem Blvd.

Baltimore, MD 21219

  

2001 Cooley Dr.

Colton, CA 92324

  

6700 Franklin St.

Denver, CO 80229

  

1435 165th St.

Hammond, IN 46320

  

1012 West Wintergreen Rd.

Hutchins, TX 75141

  

91-300 Hauna St.

Kapolei, HI 96707

  

120 Hoelocker Dr.

LaPorte, IN 46350

  

15546 W. 108th St.

Lenexa, KS 66219

  

198 Summer St.

Lunenburg, MA 01462

  

255 Northeast 181st St.

Miami, FL 33162

  

420 South 53rd Ave.

Phoenix, AZ 85043

  

3351 East Valley Rd.

Renton, WA 98055

  

1345 Hall Spencer Rd.

Rock Hill, SC 29730

  

2525 South Airport Way

Stockton, CA 95206

  

1985 North River Rd.

Warren, OH 44483

 

  Sch. 6.3(f)-6  

Amendment to the

Purchase and Sale Agreement

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721 Industrial Dr.

Wildwood, FL 34785

The Gerstenslager Company   

200 Old Wilson Bridge Road

Columbus, OH 43085

  

1425 East Bowman Street

Wooster, OH 44691

The Worthington Steel Company, a Delaware corporation   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

The Worthington Steel Company, a North Carolina corporation   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

  

1345 Hall Road

Rock Hill, South Carolina 29730

The Worthington Steel Company, an Ohio corporation   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

  

8911 Kelso Drive

Baltimore, Maryland 21221

  

1127 Dearborn Drive

Columbus, Ohio 43085

  

6303 County Road 10

Delta, Ohio 43515

  

100 Worthington Drive

Porter, Indiana 46304

  

350 Lawton Avenue

Monroe, Ohio 45050

Worthington Cylinders Corporation   

200 Old Wilson Bridge Road

Columbus, OH 43085

  

1085 Dearborn Drive

Columbus, OH 43085

Worthington Cylinders Wisconsin, LLC   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

  

300 East Breed Street

Chilton, WI 53014

Worthington Steel Company of Decatur, LLC   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

 

  Sch. 6.3(f)-7  

Amendment to the

Purchase and Sale Agreement

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1400 Red Hat Road, N.W.

Decatur, Alabama 35601

Worthington Steel Company of Kentucky, L.L.C.   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

  

1152 Industrial Boulevard

Louisville, Kentucky 40219

Worthington Steel of Michigan, Inc.   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

  

1150 S. Elm Street

Jackson, Michigan 49204

Worthington Taylor, Inc.   

200 Old Wilson Bridge Road

Columbus, Ohio 43085

  

11700 Worthington Drive

Taylor, Michigan 48180

 

  Sch. 6.3(f)-8  

Amendment to the

Purchase and Sale Agreement