Amendment No. 4 to Receivables Purchase Agreement



 Exhibit 10.20 
 AMENDMENT NO. 4 TO RECEIVABLES PURCHASE AGREEMENT 
 THIS AMENDMENT NO. 4 TO RECEIVABLES
PURCHASE AGREEMENT (this “Amendment”), dated as of January 25, 2008, is entered into among WORTHINGTON RECEIVABLES CORPORATION, a Delaware corporation, as Seller (the “Seller”), WORTHINGTON INDUSTRIES, INC., an
Ohio corporation, as Servicer (the “Servicer”), THE MEMBERS OF THE VARIOUS PURCHASER GROUPS FROM TIME TO TIME PARTY TO THE AGREEMENT (as defined below) (each, a “Purchaser Group” and collectively, the
“Purchaser Groups”), and PNC BANK, NATIONAL ASSOCIATION, as Administrator (the “Administrator”). 
 RECITALS 
 The Seller, the Servicer, each member of each of the Purchaser Groups and the Administrator are
parties to the Receivables Purchase Agreement, dated as of November 30, 2000 (as amended, supplemented or otherwise modified from time to time, the “Agreement”); and 
 The parties hereto desire to amend the Agreement as hereinafter set forth. 
 NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties agree as follows: 
 1. Certain Defined Terms. Capitalized terms that are used herein without definition and
that are defined in Exhibit I to the Agreement shall have the same meanings herein as therein defined. 
 2.
Amendments to Agreement. 
 2.1 Clause (a)(i) of the definition of “Eligible
Receivable” set forth in the Exhibit I to the Agreement is hereby amended by deleting the amount “$2,000,000” therein and substituting the phrase “the product of (x) 0.02 times (y) the Outstanding Balance of all
other Eligible Receivables” therefor. 
 2.2 Clause (a) of the definition of “Facility
Termination Date” set forth in the Exhibit I to the Agreement is hereby amended by deleting the date “January 26, 2008” therein and substituting the date “January 26, 2011” therefor. 
 3. Representations and Warranties. The Seller and the Servicer each hereby represents and warrants to the Administrator and each
member of the various Purchaser Groups from time to time party to the Agreement as follows: 
 (a)
Representations and Warranties. Its representations and warranties contained in Exhibit III of the Agreement are true and correct as of the date hereof (unless stated to relate solely to an earlier date, in which case such representations or
warranties were true and correct as of such earlier date); 







 (b) Enforceability. The execution and delivery by each of the
Seller and the Servicer of this Amendment, and the performance of each of its obligations under this Amendment and the Agreement, as amended hereby, are within each of its corporate powers and have been duly authorized by all necessary corporate
action on each of its parts. This Amendment and the Agreement, as amended hereby, are each of the Seller’s and the Servicer’s valid and legally binding obligations, enforceable in accordance with its terms; and 
 (c) No Default. Both before and immediately after giving effect to this Amendment and the transactions contemplated
hereby, no Termination Event or Unmatured Termination Event exists or shall exist. 
 4. Effect of Amendment. All
provisions of the Agreement, as expressly amended and modified by this Amendment, 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”, “hereof”, “herein” or words of similar effect referring to the Agreement shall be deemed to be references to the Agreement as amended by this Amendment. This Amendment shall not be deemed, either expressly or
impliedly, to waive, amend or supplement any provision of the Agreement other than as set forth herein. 
 5.
Effectiveness. This Amendment shall become effective as of the date hereof upon receipt by the Administrator of counterparts of this Amendment (whether by facsimile or otherwise) executed by each of the other parties hereto. 
 6. 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. 
 7. Governing Law. This Amendment shall be governed by, and construed in accordance with, the internal laws of the State of New York (without regard to any otherwise applicable principles of conflicts of law
other than Section 5-1401 of the New York General Obligations Law). 
 8. 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. 
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 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written
above. 
  

			
	 WORTHINGTON RECEIVABLES
 CORPORATION, as Seller

		
	 By:
	 	 /s/ Lester V. Hess

		 	 Name: Lester V. Hess
 Title:   Treasurer



  
  

			
	 WORTHINGTON INDUSTRIES, INC.,
 as Servicer

		
	 By:
	 	 /s/ Lester V. Hess

		 	 Name: Lester V. Hess
 Title:   Treasurer



  










			
	 MARKET STREET FUNDING LLC,
 as a Purchaser

		
	 By:
	 	 /s/ Doris J. Hearn

		 	 Name: Doris J. Hearn
 Title:   Vice President



  
  

			
	 PNC BANK, NATIONAL ASSOCIATION,
 as Administrator and as a Purchaser Agent

		
	 By:
	 	 /s/ Robyn A. Reeher

		 	 Name: Robyn A. Reeher
 Title:   Vice President