Document:

Agreement to furnish instruments and agreements defining rights

 Exhibit 4.9 

 
 August 1, 2011 

Securities and Exchange Commission 
 100 F Street, NE 
 Washington, D.C. 20549 

 

	 	 Re:
	 Worthington Industries, Inc. – Annual Report on Form 10-K for the fiscal year ended 

	 	     
	 May 31, 2011 – SEC File No. 1-8399 

 Ladies and Gentlemen: 
 Worthington Industries, Inc., an Ohio
corporation, is today filing its Annual Report on Form 10-K for the fiscal year ended May 31, 2011 (the “Form 10-K”). 
 None of (i) Worthington Industries, Inc., (ii) any of the consolidated subsidiaries of Worthington Industries, Inc. or (iii) Worthington Armstrong Venture, a 50%-owned unconsolidated joint
venture (in the form of a general partnership between Armstrong Ventures, Inc., a subsidiary of Armstrong World Industries, Inc., and The Worthington Steel Company (Delaware), a subsidiary of Worthington Industries, Inc.), for which financial
statements are required to be filed with the Form 10-K, has outstanding any instrument or agreement with respect to its long-term debt, other than those filed or incorporated by reference as an exhibit to the Form 10-K, under which the total amount
of long-term debt authorized exceeds 10% of the total assets of Worthington Industries, Inc. and its subsidiaries on a consolidated basis. In accordance with the provisions of Item 601(b)(4)(iii) of SEC Regulation S-K, Worthington Industries,
Inc. hereby agrees to furnish to the SEC, upon request, a copy of each such instrument or agreement defining (i) the rights of holders of the long-term debt of Worthington Industries, Inc. or (ii) the rights of holders of the long-term
debt of a consolidated subsidiary of Worthington Industries, Inc. or (iii) the rights of holders of the long-term debt of Worthington Armstrong Venture, in each case which is not being filed or incorporated by reference as an exhibit to the
Form 10-K. 
  

	
	 Very truly yours,

	
	 WORTHINGTON INDUSTRIES, INC.

	
	 /s/    B. Andrew Rose

	 B. Andrew Rose
 Vice President and Chief Financial OfficerAmendment No. 10 to Receivables Purchase Agreement

 Exhibit 10.36 
 AMENDMENT NO. 11 TO RECEIVABLES PURCHASE AGREEMENT 
 THIS
AMENDMENT NO. 11 TO RECEIVABLES PURCHASE AGREEMENT (this “Amendment”), dated as of May 6, 2011, 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 through the date hereof, 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. Amendment to Agreement. Schedule II to the Agreement is hereby amended and restated in its entirety as set forth on Schedule II hereto. 

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. Consent. Each of the Administrator and the Purchaser hereby consent to Amendment No. 5 to the Sale Agreement, dated as of the date hereof, among the Seller and the Originators party thereto
(the “Fifth Amendment to Sale Agreement”). 
 5. Other Agreement. Each of the parties
hereto hereby agree that if the Seller shall not have received from The Gerstenslager Company payment in full of the Purchase Price (as defined in the Gerstenslager Assignment Agreement (as defined below)) on or prior to May 20, 2011, such
event shall constitute a Termination Event without any grace period. 
 6. Effect of Amendment. All
provisions of the Agreement, including as expressly amended and modified by this Amendment, shall remain in full force and effect and are hereby ratified. 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. 
 7. Effectiveness. This Amendment shall become effective as of the date hereof upon receipt by the Administrator of: (i) counterparts of: (a) this Amendment (b) the Fifth Amendment to
Sale Agreement, (c) the Assignment Agreement, dated as of the date hereof, between the Seller and The Gerstenslager Company (and acknowledged and consented to by PNC and the Purchaser) (the “Gerstenslager Assignment
Agreement”) and (d) that certain Amendment No. 3 to Lockbox Agreement, dated as of the date hereof, among PNC, Worthington, the Seller, Market Street Funding LLC and the Originators party thereto, in each case (whether by
facsimile or otherwise) executed by each of the parties hereto or thereto, as applicable, and (ii) such other documents, instruments, agreements and opinions as the Administrator may request. 

8. 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. 

9. 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 Sections 5-1401 and 5-1402 of the New York General Obligations Law). 

10. 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. 
 [REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK] 

 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
first written above. 
  

			
	 WORTHINGTON RECEIVABLES

CORPORATION, as Seller

		
	 By:
	 	 /s/    Marcus Rogier

	 Name:
	 	 Marcus Rogier

	 Title:
	 	 Treasury Manager

	
	 WORTHINGTON INDUSTRIES, INC.,

as Servicer

		
	 By:
	 	 /s/    Matthew A. Lockard

	 Name:
	 	 Matthew A. Lockard

	 Title:
	 	 Treasurer

 
			
	 MARKET STREET FUNDING LLC

		
	 By:
	 	 /s/    Doris J. Hearn

	 Name:
	 	 Doris J. Hearn

	 Title:
	 	 Vice President

	
	 PNC BANK, NATIONAL ASSOCIATION

		
	 By:
	 	 /s/    William P. Falcon

	 Name:
	 	 William P. Falcon

	 Title:
	 	 Vice PresidentAmendment No. 5 to Purchase and Sale Agreement

 Exhibit 10.42 
 AMENDMENT NO. 5 
 Dated as of May 6, 2011 

to 

PURCHASE AND SALE AGREEMENT 
 Dated as of November 30, 2000 
 This AMENDMENT NO. 5
(this “Amendment”), dated as of May 6, 2011, is entered into among the VARIOUS ENTITIES LISTED ON SCHEDULE I HERETO AS ORIGINATORS (each, a “Remaining Originator”; and collectively, the “Remaining
Originators”), THE GERSTENSLAGER COMPANY, a corporation organized under the laws of Michigan (the “Released Originator”), and WORTHINGTON RECEIVABLES CORPORATION, a Delaware corporation (the “Company”).

 RECITALS 
 WHEREAS, the Remaining Originators and the Released Originator have entered into that certain Purchase and Sale Agreement dated as of November 30, 2000 (as amended, supplemented or otherwise modified
through the date hereof, 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 (including terms incorporated therein by reference). 

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

2.1 The parties hereto hereby agree that upon the effectiveness of this Amendment, the Released Originator shall no longer
be party to the Agreement or any other Transaction Document and shall no longer have any obligations or rights thereunder (other than such obligations which by their express terms survive termination of the Agreement or such other Transaction
Document, as applicable). 
 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 5.15 of the Agreement is
hereby amended and restated in its entirety as set forth on Schedule 5.15 attached hereto. 

 2.4 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. Authorization to File
Financing Statements. Upon the effectiveness of this Amendment, each of the Released Originator and the Company hereby authorizes the Administrator to file (at the expense of the Company) one or more UCC-3 amendments in the form of Exhibit
A hereto. 
 SECTION 4. Miscellaneous. 

4.1 Representations and Warranties. 

(a) Each Remaining Originator and the Company hereby makes, with respect to itself, the following
representations and warranties to the other parties hereto, the Administrator and each member of each Purchaser Group: 
 (i) Representations and Warranties. The representations and warranties contained in Article V of the Agreement of such Remaining 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); 

(ii) 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; and 
 (iii) Termination Event. No Purchase and Sale Termination Event or Unmatured Purchase and Sale Termination Event has occurred and is continuing. 

(b) The Company hereby represents and warrants to the other parties hereto, the Administrator and each
member of each Purchaser Group, with respect to itself, that: 
 (i) Representations and
Warranties. Its representations and warranties contained in Exhibit III of the Receivables Purchase 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); and 
 (ii) 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. 

 4.2 Effectiveness. This Amendment shall become effective as of the
date hereof upon (i) receipt by the Company and the Administrator of: (a) counterparts of this Amendment, (b) counterparts of the Assignment Agreement, dated as of the date hereof, between the Seller and The Gerstenslager Company (and
acknowledged and consented to by PNC and the Purchaser), in each case (whether by facsimile or otherwise) executed by each of the other parties hereto or thereto, as applicable, and (c) such other documents, agreements, instruments and opinions
as the Administrator may request and (ii) the cancellation and return to the Company (with a copy to the Administrator) of the original Company Note in favor of the Released Originator. 

4.3 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. 
 4.4 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. 
 4.5 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. 
 4.6 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 conflicts of law principles thereof other than Sections 5-1401
and 5-1402 of the New York General Obligations Law). 
 4.7 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. 
 4.8 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.

 4.9 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] 

 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/    Marcus Rogier

	 Name:
	 	 Marcus Rogier

	 Title:
	 	 Treasury Manager

	
	 REMAINING ORIGINATORS:

	
	 THE WORTHINGTON STEEL COMPANY,
 a Delaware corporation

		
	 By:
	 	 /s/    Matthew A. Lockard

	 Name:
	 	 Matthew A. Lockard

	 Title:
	 	 Treasurer

	
	 THE WORTHINGTON STEEL COMPANY,
 a North Carolina corporation

		
	 By:
	 	 /s/    Matthew A. Lockard

	 Name:
	 	 Matthew A. Lockard

	 Title:
	 	 Treasurer

	
	 THE WORTHINGTON STEEL COMPANY,
 an Ohio corporation

		
	 By:
	 	 /s/    Matthew A. Lockard

	 Name:
	 	 Matthew A. Lockard

	 Title:
	 	 Treasurer

	
	 WORTHINGTON CYLINDERS CORPORATION

		
	 By:
	 	 /s/    Matthew A. Lockard

	 Name:
	 	 Matthew A. Lockard

	 Title:
	 	 Treasurer

			
	
	 WORTHINGTON CYLINDERS WISCONSIN, LLC

		
	 By:
	 	 /s/    Matthew A. Lockard

	 Name:
	 	 Matthew A. Lockard

	 Title:
	 	 Treasurer

	
	 WORTHINGTON STEEL COMPANY OF DECATUR, L.L.C.

		
	 By:
	 	 /s/    Matthew A. Lockard

	 Name:
	 	 Matthew A. Lockard

	 Title:
	 	 Treasurer

	
	 WORTHINGTON STEEL COMPANY OF KENTUCKY, LLC

		
	 By:
	 	 /s/    Matthew A. Lockard

	 Name:
	 	 Matthew A. Lockard

	 Title:
	 	 Treasurer

	
	 WORTHINGTON STEEL OF MICHIGAN, INC.

		
	 By:
	 	 /s/    Matthew A. Lockard

	 Name:
	 	 Matthew A. Lockard

	 Title:
	 	 Treasurer

	
	 RELEASED ORIGINATOR:

	
	 THE GERSTENSLAGER COMPANY

		
	 By:
	 	 /s/    Matthew A. Lockard

	 Name:
	 	 Matthew A. Lockard

	 Title:
	 	 Treasurer

 SCHEDULE I 
 Schedule I 
 LIST OF ORIGINATORS 

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 Cylinders Corporation, an Ohio corporation 

 SCHEDULE 5.15 

TRADE NAMES 
  

			
	 Legal Name
	  	 Trade Names

		
	 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

 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. 

 SCHEDULE 6.1(f) 

LOCATION OF EACH ORIGINATOR 
  

			
	 Originator
	  	 Location

		
	 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

 LOCATION OF CHIEF EXECUTIVE OFFICE AND PRINCIPAL PLACE OF BUSINESS OF EACH ORIGINATOR

  

			
	 Originator
	  	 Location

		
	 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

		
	 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

		
		  	 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

		
	 Worthington Steel of Michigan, Inc.
	  	 200 Old Wilson Bridge Road
 Columbus, Ohio 43085

 LOCATION OF BOOKS AND RECORDS OF ORIGINATORS 

 

			
	 Originator
	  	 Location

		
	 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

		
	 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

		
		  	 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

		
	 Worthington Steel of Michigan, Inc.
	  	 200 Old Wilson Bridge Road
 Columbus, Ohio 43085

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