Document:

Specimen Certificate for the Company's Non-cumulative Preferred Stock

 Exhibit 4.1 
 CERTIFICATE 
 OF 
 LSB INDUSTRIES, INC. 
 LSB INDUSTRIES, INC. (the “Corporation” or
“LSB”), a corporation organized and existing under the General Corporation Law of the State of Delaware, hereby certifies, pursuant to Section 151(g) of the General Corporation Law of the State of Delaware, that the following
resolutions relating to the issuance of preferred stock of the Corporation were duly adopted by a majority of the members of the Board of Directors of the Corporation at a meeting held on March 14, 1983, with the number of shares of such
preferred stock to be issued amended by amendment to such resolutions at a meeting of the Board of Directors of the Corporation on July 21, 1983: 
 RESOLVED FURTHER, that pursuant to such Offer and pursuant to the authority expressly granted and vested in the Board of Directors by the Corporation’s Certificate of Incorporation, the Board of Directors does
hereby create and the Corporation may issue one series of up to 4,662 shares of the Corporation’s Preferred Stock, par value $100 a share, and this series of Preferred Stock shall have the following designations, rights and preferences:

 Designation. The shares of such series of Preferred Stock shall be designated as “Convertible, Noncumulative Preferred
Stock”, hereinafter called “Convertible Preferred Stock”. 

 Dividends. The holders of the Convertible Preferred Stock will receive noncumulative cash
dividends out of surplus or net profits, when, as and if such dividends are declared by the board of directors of LSB INDUSTRIES, INC. (“LSB”) at the rate of 10% per annum of the par value of such
Convertible Preferred Stock and no more, payable annually on the first day of April beginning in 1984, in preference to holders of LSB common stock (“Cash Dividends”). Each holder of a fractional one-half share of the Convertible Preferred
Stock will receive one-half of the per share Cash Dividend when, as and if such Cash Dividends are declared by the Board of Directors of LSB. No Cash Dividends will be paid unless there are funds available after the payment of interest to The
National Bank of Chicago, First Chicago International, Mercantile National Bank at Dallas, Bank of Oklahoma, N.A., The Liberty National Bank & Trust Co. of Oklahoma City, The First National Bank of Fort Worth, Centerre Bank, N.A., Fidelity
Bank, N.A., Chase Manhattan Bank, N.A., Chase Bank International, First City National Bank of Houston, J. Henry Schroder Bank & Trust Company, Banco di Roma and The Prudential Insurance Company of America (hereinafter collectively called
“Senior Lenders”) and such Senior Lenders consent to the payment of such Cash Dividends, if required by an agreement between the Senior Lenders and LSB. 
 Voting Rights. Each holder of the Convertible Preferred Stock will be entitled to one vote for each share of Convertible Preferred Stock (or one-half of one vote for each fractional one-half share of such
Convertible Preferred Stock) held of record in his or her name on all matters submitted to a vote of the shareholders of LSB. The holders of such Convertible Preferred Stock and the holders of shares of Common Stock of LSB shall vote together as one
class. 
 Conversion Privilege. The Convertible Preferred Stock will be convertible at any time at the election of the holder thereof
into fully paid and nonassessable shares of LSB common stock. 
  

 - 2 - 

 Each share of Convertible Preferred Stock shall be convertible into 40 shares of LSB common stock;
provided however, that each holder of a fractional one-half share of Convertible Preferred Stock shall be entitled to convert such fractional one-half share into 20 shares of LSB Common Stock. 
 In the event that LSB shall (i) pay to the holders of its common stock a stock dividend payable in its common stock, the number of shares of common
stock issuable upon conversion of the Convertible Preferred Stock shall be proportionately adjusted, effective as of the date of payment of such stock dividend; or (ii) have a stock-split, reclassification, recapitalization, combination of
shares or similar corporate rearrangement (other than a stock dividend which is provided for in (i) above), without any consideration therefor being received by the Company, increasing or decreasing the number of outstanding shares of
LSB’s common stock, the number of shares of common stock issuable upon conversion of the Convertible Preferred Stock shall be proportionately increased or decreased, effective as of the date of the payment of or happening of such event; or
(iii) consolidated with or merge into another corporation, in which LSB is the non-surviving corporation, or sell all or substantially all of LSB’s assets as an entirety under one plan or arrangement to another corporation and such
consolidation, merger or sale shall be effected in such a way that holders of LSB’s common stock shall be entitled to receive stock, securities or assets with respect to or in exchange for such common stock, then after the effective date of
such consolidation, merger or sale each share of Convertible Preferred Stock shall be convertible into (in lieu of LSB common stock) the number of shares of stock or other securities or assets to which such holder of the Convertible Preferred Stock
would have been entitled upon such consummation if the holder of the Convertible Preferred Stock had so exercised his right of conversion under such Convertible Preferred Stock immediately prior to such consolidation, merger or sale, and LSB shall
make lawful provision therefor as part of such consolidation, merger or sale. 
  

 - 3 - 

 LSB shall not be required to issue any fraction of a share of common stock upon any conversion, but
(i) may deliver scrip therefor, which shall not entitle the bearer thereof to vote, or to receive dividends or to any other or further right or interest, except to convert the same in amounts aggregating one or more whole shares of LSB common
stock into whole shares of LSB common stock, at any time (within a period, fixed by the Board of Directors of LSB, which shall be stated in the scrip), or (ii) may pay in cash therefor an amount equal to the same fraction of the fair market
value of a full share of LSB common stock. For such purpose of determining the fair market value of LSB common stock, the fair market value of a share of LSB common stock shall be the last recorded sale price of such a share of LSB common stock on
the American Stock Exchange on the day immediately preceding the date upon which such Convertible Preferred Stock is surrendered for conversion or, if there be no recorded sale price on such day, the last quoted bid price per share of LSB common
stock on such Exchange at the close of trading on such date. If LSB common stock shall not be at the time dealt in on the American Stock Exchange, such fair market value of LSB common stock shall be the prevailing market value of such common stock
on any other securities exchange or in the open market, as determined by LSB, which determination shall be conclusive. 
 Any conversion may
be effected by holders of Convertible Preferred Stock by giving to LSB written notice of an election to convert at least ten business days prior to the date of conversion. 
 Notwithstanding anything herein, to the contrary, the right to convert the Convertible Preferred Stock into shares of LSB common stock is subject to LSB listing the underlying common stock with the American Stock
Exchange, if LSB common stock is at that time listed on such Exchange. 
 Redemption Rights. Each share of Convertible Preferred Stock
will be redeemable by LSB at par value, $100 per share, (for each fractional 

  

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one-half share of Convertible Preferred Stock one-half of said par value) at the option of the holder of such stock to the extent that LSB earns net profits
after all of the debt owed by LSB to the Senior Lenders has been paid in full. For this purpose, “net profits” is defined as net income as determined under generally accepted accounting principals. 
 LSB may at any time, or from time to time as shall be permitted under the laws of Delaware, redeem the whole or any part of its Convertible Preferred
Stock by paying to the holders thereof in cash $100 per share ($50 for a fractional one-half share of such Convertible Preferred Stock) at the date fixed for redemption in the notice of redemption. Holders of the Convertible Preferred Stock may
convert such stock into LSB common stock as provided above at any time prior to the notice for redemption. 
 Preference Upon
Liquidation. In the event of any liquidation or dissolution (whether voluntary or involuntary) of LSB, before any payment will be made to the holders of LSB common stock, the holders of Convertible Preferred Stock will be entitled to be paid in
full the par value of their share (for each fractional one-half share of Convertible Preferred Stock one-half of said par value) to the extent that funds are available, but will not be entitled to participate any further in the distribution of the
assets of LSB. 
 IN WITNESS WHEREOF, the Corporation has caused this Certificate to be signed and attested by its duly authorized officers
this 22nd day of August, 1983. 
  

	
	 LSB INDUSTRIES, INC.

	
	

	 Jack E. Golsen, President

  

	
	ATTEST
	
	

	 SecretaryNinth amendment to Loan and Security Agreement

 Exhibit 4.20 
 NINTH AMENDMENT 
 TO LOAN AND SECURITY AGREEMENT 
 NINTH AMENDMENT, dated as of February 22, 2006 (the “Amendment”), to the Loan and Security Agreement dated as of April 13,
2001, as amended by the First Amendment dated as of August 3, 2001, the Second Amendment dated as of May 24, 2002, the Third Amendment dated as of November 18, 2002, the Fourth Amendment dated as of March 3, 2003, the Fifth
Amendment dated as of December 31, 2003, the Sixth Amendment dated as of June 29, 2004, the Seventh Amendment dated as of September 15, 2004 and the Eighth Amendment dated as of February 28, 2005 (the “Loan
Agreement”), by and among (i) LSB INDUSTRIES, INC., a Delaware corporation (the “Parent”), THERMACLIME, INC., an Oklahoma corporation formerly known as ClimaChem, Inc. (“ThermaClime”), and each of the
Subsidiaries of ThermaClime identified on the signature pages thereof (such Subsidiaries, together with ThermaClime, each a “Borrower”, and collectively, the “Borrowers”), (ii) the lenders identified on the
signature pages thereof (each a “Lender” and collectively the “Lenders”) and (iii) WELLS FARGO FOOTHILL, INC., a California corporation formerly known as Foothill Capital Corporation, as the arranger and
administrative agent for the Lenders (the “Agent”). 
 WHEREAS, the Borrowers have requested that the Loan Agreement be
amended and modified to (i) permit the Borrowers to deliver the Borrowers’ Projections for the fiscal year 2006 on or before February 22, 2006 rather than December 1, 2005 and (ii) modify the minimum EBITDA covenant, and the
Agent and the Lenders have agreed to such amendments subject to the terms and conditions set forth herein. 
 NOW THEREFORE, in consideration
of the premises and other good and valuable consideration, the parties hereto hereby agree as follows: 
 1. Capitalized Terms. All
capitalized terms used in this Amendment (including, without limitation, in the recitals hereto) and not otherwise defined shall have their respective meanings set forth in the Loan Agreement. 
 2. Financial Covenants. Section 7.20 of the Loan Agreement is hereby amended as follows: 
 (a) Minimum EBITDA. Section 7.20(a)(i) is hereby amended in its entirety to read as follows: 
 “(i) Minimum EBITDA. EBITDA, measured on a fiscal quarter-end basis, of not less than the required amount set forth in the
following table for the applicable period set forth opposite thereto; 
  

				
	Applicable
Amount	  	 Applicable Period

	$	20,647,767	  	For the 12 month period ending March 31, 2006
	$	19,602,410	  	For the 12 month period ending June 30, 2006

				
	Applicable
Amount	  	 Applicable Period

	$	17,339,273	  	For the 12 month period ending September 30, 2006
	$	16,441,683	  	For the 12 month period ending December 31, 2006

 Borrowers’ EBITDA for the 12 month period ending each fiscal quarter after December 31,
2006 shall not be less than the greater of (x) $17,000,000 and (y) 85% of Borrowers’ projected EBITDA for such period as set forth in the Projections delivered to Agent in accordance with Section 6.3(c), which Projections are in
form and substance acceptable to Agent; provided, that if Agent and Borrowers cannot agree on the EBITDA covenant number based upon Borrowers’ projected EBITDA, for purposes of this Section 7.20(a)(i), Borrowers’ EBITDA for
such 12 month period shall be determined by Agent in its Permitted Discretion and shall not be less than $17,000,000.” 
 3.
Conditions Precedent. The effectiveness of this Amendment is subject to the fulfillment, in a manner satisfactory to the Agent, of each of the following conditions precedent which shall be deemed satisfied upon the Agent’s execution of
this Amendment (the effective date of this Amendment shall be retroactive to November 30, 2005, the “Ninth Amendment Effective Date”): 
 (a) Representations and Warranties; No Event of Default. The representations and warranties contained herein, in Section 5 of
the Loan Agreement and in each other Loan Document and certificate or other writing delivered to the Agent or any Lender pursuant hereto on or prior to the Ninth Amendment Effective Date shall be correct in all material respects on and as of the
Ninth Amendment Effective Date as though made on and as of such date, except to the extent that such representations and warranties (or any schedules related thereto) expressly relate solely to an earlier date (in which case such representations and
warranties shall be true and correct in all material respects on and as of such date); and no Default or Event of Default shall have occurred and be continuing on the Ninth Amendment Effective Date or would result from this Amendment becoming
effective in accordance with its terms. 
 (b) Delivery of Documents. The Agent shall have received on or before the
Ninth Amendment Effective Date the following, each in form and substance satisfactory to the Agent and, unless indicated otherwise, dated the Ninth Amendment Effective Date: 
 (i) counterparts of this Amendment duly executed by the Borrowers, the Agent and the Lenders; and 
 (ii) such other agreements, instruments, approvals, opinions and other documents as the Agent may reasonably request from the Borrowers.

 (c) Amendment Fee. The Borrowers shall have paid to the Agent, for the benefit of the Lenders, in immediately
available funds, a fully earned and nonrefundable 

  

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amendment fee equal to $5,000, the payment of which shall be effected by Agent charging such fee to Borrowers’ Loan Account. 
 (d) Proceedings. All proceedings in connection with the transactions contemplated by this Amendment, and all documents incidental
thereto, shall be satisfactory to the Agent and its special counsel, and the Agent and such special counsel shall have received from the Borrowers all such information and such counterpart originals or certified copies of documents, and such other
agreements, instruments, approvals, opinions and other documents, as the Agent or such special counsel may reasonably request. 
 4.
Representations and Warranties. Each Borrower hereby represents and warrants to the Agent and the Lenders as follows: 
 (a) Representations and Warranties; No Event of Default. The representations and warranties herein, in Section 5 of the Loan Agreement and in each other Loan Document and certificate or other writing delivered to the Agent or
any Lender pursuant hereto on or prior to the Ninth Amendment Effective Date are correct in all material respects on and as of the Ninth Amendment Effective Date as though made on and as of such date, except to the extent that such representations
and warranties (or any schedules related thereto) expressly relate solely to an earlier date (in which case such representations and warranties are true and correct in all material respects on and as of such date); and no Default or Event of Default
has occurred and is continuing on the Ninth Amendment Effective Date or would result from this Amendment becoming effective in accordance with its terms. 
 (b) Organization, Good Standing, Etc. Each Borrower (i) is a corporation duly organized, validly existing and in good standing under the laws of the state of its organization, (ii) has all requisite
power and authority to execute, deliver and perform this Amendment and the other Loan Documents to which it is a party being executed in connection with this Amendment, and to perform the Loan Agreement, as amended hereby, and (iii) is duly
qualified to do business and is in good standing in each jurisdiction in which the character of the properties owned or leased by it or in which the transaction of its business makes such qualification necessary except where the failure to be so
qualified reasonably could not be expected to have a Material Adverse Change. 
 (c) Authorization, Etc. The execution,
delivery and performance by each Borrower of this Amendment, and the performance by each Borrower of the Loan Agreement, as amended hereby, (i) have been duly authorized by all necessary action on the part of such Borrower, (ii) do not and
will not contravene such Borrower’s charter or by-laws, any applicable law or any material contractual restriction binding on or otherwise affecting it or any of its properties, (iii) do not and will not result in or require the creation
of any Lien (other than pursuant to any Loan Document) upon or with respect to any of its properties, and (iv) do not and will not result in any suspension, revocation, impairment, forfeiture or nonrenewal of any permit, license, authorization
or approval applicable to its operations or any of its properties. 
  

 3 

 5. Waiver and Consent. 
 (a) Pursuant to the request of the Borrowers, but subject to satisfaction of the conditions set forth in Section 3 above, and in
reliance upon the representations and warranties of the Borrowers set forth herein and in the Loan Agreement, the Lenders and the Agent hereby waive any Event of Default arising under the Loan Agreement as a result of the Borrowers’ failure to
deliver the Projections for the fiscal year 2006 by December 1, 2005 pursuant to Section 6.3(c)(i) of the Loan Agreement, provided that such Projections shall have been delivered to the Agent on or before February 22, 2006.

 (b) The Agent’s and the Lenders’ consent and waiver of any Event of Default relating to the events set forth in
paragraph (a) above (i) shall be effective only in this specific instance and for the specific purposes set forth herein, and (ii) does not allow for any other or further departure from the terms and conditions of the Loan Agreement
or any other Loan Documents, which terms and conditions shall continue in full force and effect. 
 6. Miscellaneous. 
 (a) Continued Effectiveness of the Loan Agreement. Except as otherwise expressly provided herein, the Loan Agreement and the other
Loan Documents are, and shall continue to be, in full force and effect and are hereby ratified and confirmed in all respects, except that on and after the Ninth Amendment Effective Date (i) all references in the Loan Agreement to “this
Agreement”, “hereto”, “hereof”, “hereunder” or words of like import referring to the Loan Agreement shall mean the Loan Agreement as amended by this Amendment, and (ii) all references in the other Loan
Documents to which any Borrower is a party to the “Loan Agreement”, “thereto”, “thereof”, “thereunder” or words of like import referring to the Loan Agreement shall mean the Loan Agreement as amended by this
Amendment. Except as expressly provided herein, the execution, delivery and effectiveness of this Amendment shall not operate as an amendment of any right, power or remedy of the Lender under the Loan Agreement or any other Loan Document, nor
constitute an amendment of any provision of the Loan Agreement or any other Loan Document. 
 (b) Counterparts. This
Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement.

 (c) Headings. Section headings herein are included for convenience of reference only and shall not constitute a part
of this Amendment for any other purpose. 
 (d) Governing Law. This Amendment shall be governed by, and construed in
accordance with, the law of the State of New York. 
 (e) Costs and Expenses. The Borrowers jointly and severally agree
to pay on demand all reasonable fees, costs and expenses of the Agent and each Lender in connection with the preparation, execution and delivery of this Amendment and the other related agreements, instruments and documents. 
  

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 (f) Amendment as Loan Document. Each Borrower hereby acknowledges and agrees that
this Amendment constitutes a “Loan Document” under the Loan Agreement. Accordingly, it shall be an Event of Default under the Loan Agreement (i) if any representation or warranty made by a Borrower under or in connection with this
Amendment shall have been untrue, false or misleading in any material respect when made or (ii) if Borrowers fail to perform, keep, or observe any term, provision, condition, covenant, or agreement contained in this Amendment. 
 (g) Waiver of Jury Trial. EACH BORROWER, THE AGENT AND THE LENDERS HEREBY IRREVOCABLY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL
OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AMENDMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. 
  

 5 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered as of the
date first above written. 
  

					
	 Borrowers:

	
	 THERMACLIME, INC. (formerly known as
 ClimaChem, Inc.), an Oklahoma corporation

			
	 By:
	 	  	 	  
		 	 Title:
	 	  
	
	 CHEROKEE NITROGEN COMPANY,
 a Oklahoma corporation

			
	 By:
	 	  	 	  
		 	 Title:
	 	  
	
	 CLIMATE MASTER, INC.,
 a Delaware corporation

		
	 By:
	 	 0

		 	 Title:
	 	  
	
	 CLIMATECRAFT, INC.,
 an Oklahoma corporation

			
	 By:
	 	  	 	  
		 	 Title:
	 	  
	
	 CLIMACOOL, CORP.,
 an Oklahoma corporation

			
	 By:
	 	  	 	  
		 	 Title:
	 	  

					
	
	 INTERNATIONAL ENVIRONMENTAL
 CORPORATION, an Oklahoma corporation

			
	 By:
	 	  	 	  
		 	 Title:
	 	  
	
	 ACP INTERNATIONAL, LIMITED,
 an Oklahoma corporation

			
	 By:
	 	  	 	  
		 	 Title:
	 	  
	
	 KOAX CORP., an Oklahoma corporation

		
	 By:
	 	 0

		 	 Title:
	 	  
	
	 LSB CHEMICAL CORP.,
 an Oklahoma corporation

			
	 By:
	 	  	 	  
		 	 Title:
	 	  
	
	 XPEDIAIR, INC.,
 an Oklahoma corporation

			
	 By:
	 	  	 	  
		 	 Title:
	 	  
	
	 EL DORADO CHEMICAL COMPANY,
 an Oklahoma corporation

			
	 By:
	 	  	 	  
		 	 Title:
	 	  

					
	
	 CHEMEX I CORP.,
 an Oklahoma corporation

			
	 By:
	 	  	 	  
		 	 Title:
	 	  
	
	 TRISON CONSTRUCTION, INC.,
 an Oklahoma corporation

			
	 By:
	 	  	 	  
		 	 Title:
	 	  
	
	 CHEMEX II CORP.,
 an Oklahoma corporation

		
	 By:
	 	 0

		 	 Title:
	 	  
	
	 Agent and Lender:

	
	 WELLS FARGO FOOTHILL, INC., a California corporation

			
	 By:
	 	  	 	  
		 	 Title:
	 	  
	
	 Lender:

	
	 CONGRESS FINANCIAL CORPORATION
 (SOUTHWEST),
 a Texas corporation

			
	 By:
	 	  	 	  
		 	 Title:

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