Exhibit 10.4
 
AMENDMENT NO. 2 TO
RECEIVABLES PURCHASE AGREEMENT
 
AMENDMENT NO. 2 TO RECEIVABLES PURCHASE AGREEMENT, dated October 31, 2002 (this
“Amendment”), is entered into by and among IMCO FUNDING CORPORATION, a Delaware
corporation, as the seller (the “Seller”), IMCO RECYCLING INC., a Delaware
corporation (“IMCO”), as initial servicer (in such capacity, together with its
successors and permitted assigns in such capacity, the “Servicer”), MARKET
STREET FUNDING CORPORATION, a Delaware corporation (together with its successors
and permitted assigns, the “Issuer”), and PNC BANK, NATIONAL ASSOCIATION, a
national banking association (“PNC”), as administrator (in such capacity,
together with its successors and assigns in such capacity, the “Administrator”).
 
RECITALS:
 
WHEREAS, the Parties hereto are parties to that certain Receivables Purchase
Agreement dated as of November 2, 2000 (as may be further amend, supplemented,
from time to time, the “Agreement”);
 
WHEREAS, the parties hereto desire to amend the Agreement as hereinafter set
forth.
 
NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiencyof which are hereby acknowledged, the parties agree as follows:
 
1.  Defined Terms. Capitalized terms used but not defined herein have the
meaning set forth in the Agreement.
 
2.  Amendments.
 
(a)  The definition of “Purchase Limit” set forth in Exhibit I to the Agreement
is hereby amended by deleting the amount “100,000,000” and substituting the
amount “75,000,000” therefor.
 
(b)  The definition of “Related Security” set forth in Exhibit I to the
 
Agreement is hereby amended and restated in its entirety as follows:
 
“Related Security” means, with respect to any Receivable:
 
(a)  all of the Seller’s and the respective Originator’s interest in any goods
(including returned goods) the sale of which gives rise to the Receivables, and
documentation of title evidencing the shipment or storage of any goods(including
returned goods) the sale of which gives rise to such Receivable,
 
(b)  all instruments and chattel paper that may evidence such Receivable,
 
(c)  all other security interests or liens and property subject thereto from
time to time purporting to secure payment of such Receivable, whether

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pursuant to the Contract related to such Receivable or otherwise, together with
all UCC financing statements or similar filings relating thereto,
 
(d)  all of the Seller’s and the respective Originator’s rights, interests and
claims under the Contracts and all guaranties, indemnities, insurance and other
agreements (including the related Contract) or arrangements of whatever
character from time to time supporting or securing payment of such Receivable or
otherwise relating to such Receivable, whether pursuant to the Contract related
to such Receivable or otherwise, and
 
(e)  all lockboxes, Lockbox Accounts and all deposits therein, to the extent
related to such Receivables.
 
(c)  Schedule II to the Agreement is hereby replaced in its entirety with the
Schedule II hereto.
 
3.    Effect of Amendment.    All provisions of the Agreement, as expressly
amended and modified by this Ame ndment, shall remain in full force and effect.
After this Amendment becomes effective, all references in the Agreement (or in
any other Transaction Document) to this Agreement shall be deemed to be
references to this Agreement as amended hereby.
 
4.    Counterparts.    This Amendment may be executed in any number of
counterparts and by different parties on separate counterparts, each of which
when so executed shall be deemed to be an original and all of which when taken
together shall constitute but one and the same instrument.
 
5.    Governing Law.    This Amendment shall be governed by, and construed in
accordance with, the internal laws of the State of New York.
 
6.    Section Headings.    The various headings of this Amendment are included
for convenience only and shall not affect the meaning or interpretation of this
Amendment, the Agreement or any provision hereof or thereof.
 
[Signature Pages To Follow]

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IN WITNESS WHEREOF, the parties have executed this Amendment on the date first
written above.
 
IMCO FUNDING CORPORATION, as the Seller
By:

 
 

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Name:
 
James B. Walburg
Title:
 
President
Address:
 
5215 North O’Connor Blvd.
   
Suite 1500
   
Irving, Texas 75039
Attention:
 
Jeffrey S. Mecom
Telephone:
 
(972) 401-7200
Facsimile:
 
(972) 401-7342

 
IMCO RECYCLING INC., as the Servicer
By:
 
 

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Name:
 
James B. Walburg
Title:
 
Senior Vice President
Address:
 
5215 North O’Connor Blvd.
   
Suite 1500
   
Irving, Texas 75039
Attention:
 
Jeffrey S. Mecom
Telephone:
 
(972) 401-7200
Facsimile:
 
(972) 401-7342

S-2

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MARKET STREET FUNDING CORPORATION, as the Issuer
By:
 
 

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Name:
 
 

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Title:
 
 

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Address:
 
c/o AMACAR Group, LLC
6525 Morrison Boulevard
Suite 318
Charlotte, North Carolina 28211
Attention:
 
Douglas K. Johnson
Telephone:
 
(704) 365-0569
Facsimile:
 
(704) 365-1362
With a copy to:

 
 
PNC Bank, National Association
Address:
 
One PNC Plaza
249 Fifth Avenue
Pittsburgh, PA 15222-2707
Attention:
 
John Smathers
Telephone:
 
(412) 762-6440
Facsimile:
 
(412) 762-9184

S-3

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PNC BANK, NATIONAL ASSOCIATION, as
                Administrator
By:
 
 

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Name:
 
 

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Title:
 
 

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Address:
 
One PNC Plaza
249 Fifth Avenue
Pittsburgh, PA 15222-2707
Attention:
 
John Smathers
Telephone:
 
(412) 762-6440
Facsimile:
 
(412) 762-9184

5

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Schedule II
 
LOCK-BOX BANKS AND LOCK-BOX ACCOUNTS
 
JPMorgan Chase Bank
P.O. Lockbox #910078
Account 08500216028
 
IMCO Funding Corporation
JPMorgan Chase Bank
Account 088-06212328
US Zinc Corporation