Document:

EX-10.4.5

 Exhibit 10.4.5 

EXECUTION VERSION 

AMENDMENT NO. 5 TO AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT 

This AMENDMENT NO. 5 TO AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT (this “Amendment”), dated as of
May 22, 2020, is among RPM FUNDING CORPORATION, a Delaware corporation (“Seller”), RPM INTERNATIONAL INC., a Delaware corporation (“RPM-Delaware”), as servicer and as
performance guarantor (in such capacity, the “Performance Guarantor”), SANTANDER BANK, N.A. (“Santander”), as a Purchaser, PNC BANK, NATIONAL ASSOCIATION (“PNC”), as a Purchaser and as administrative agent
for the Purchasers (in such capacity, the “Administrative Agent”) and PNC CAPITAL MARKETS LLC, as structuring agent (in such capacity, the “Structuring Agent”). 

RECITALS 

1.    Seller, RPM-Delaware, Wells Fargo Bank, National Association
(“Wells Fargo”), PNC, Administrative Agent and Structuring Agent are parties to that certain Amended and Restated Receivables Purchase Agreement, dated as of May 9, 2014 (as amended, restated, supplemented or otherwise
modified through the date hereof, the “Agreement”). 
 2.    Concurrently herewith,
Seller, RPM-Delaware, Wells Fargo and PNC are entering into that certain Payoff Letter, dated as of the date hereof (the “Payoff Letter”), pursuant to which, among other things, Wells Fargo is
being removed as a party to the Agreement. 
 3.    Concurrently herewith, Seller, RPM-Delaware, Santander, PNC, Administrative Agent and Structuring Agent are entering into that certain Amended and Restated Fee Letter, dated as of the date hereof (the “Fee Letter”). 

4.    Concurrently herewith, Seller, RPM-Delaware, DAP Products
Inc., Tremco Incorporated, Rust-Oleum Corporation, The Euclid Chemical Company, Weatherproofing Technologies, Inc. and Tremco Barrier Solutions, Inc. are entering into that certain EU Risk Retention Agreement dated as of the date hereof (the
“EU Risk Retention Agreement”). 
 5.    Santander desires to join the Agreement, and
Seller, RPM-Delaware, Santander, PNC, Administrative Agent and Structuring Agent 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: 
 SECTION 1.    Definitions. Capitalized terms used in this Amendment and not
otherwise defined herein shall have the respective meanings ascribed thereto in, or by reference in, the Agreement. 

SECTION 2.    Joinder of Santander. 

(a)    Santander as a Purchaser. Effective as of the date hereof, Santander shall be
a Purchaser party to the Agreement for all purposes thereof and of the other 

  

					
	     
	  		 	Amendment No. 5 to A&R RPA (RPM)

 
Transaction Documents as if Santander were an original party to the Agreement in such capacity, and effective as of the date hereof, Santander assumes all related rights and agrees to be bound by
all of the terms and provisions applicable to Purchasers contained in the Agreement and the other Transaction Documents. 

(b)    Credit Decision. Santander (i) confirms to the Administrative
Agent and each of the Purchasers that it has received a copy of the Agreement, the other Transaction Documents, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this
Amendment and (ii) agrees that it will, independently and without reliance upon the Administrative Agent or any Purchaser or any of their respective Affiliates, based on such documents and information as Santander shall deem appropriate at the
time, continue to make its own credit decisions in taking or not taking action under the Agreement and any other Transaction Document. The Administrative Agent and the Purchasers make no representation or warranty and assume no responsibility with
respect to (x) any statements, warranties or representations made in or in connection with the Agreement, any other Transaction Document or any other instrument or document furnished pursuant thereto or the execution, legality, validity,
enforceability, genuineness, sufficiency or value of the Agreement or the Receivables, any other Transaction Document or any other instrument or document furnished pursuant thereto or (y) the financial condition of any of the Seller, the
Servicer, the Performance Guarantor or the Originators or the performance or observance by any of the Seller, the Servicer, the Performance Guarantor or the Originators of any of their respective obligations under the Agreement, any other
Transaction Document, or any instrument or document furnished pursuant thereto. 

(c)    Consent to Joinder. Each of the Seller and the Administrative Agent consent
to the foregoing joinder of Santander in the capacity as a Purchaser to the Agreement, and any otherwise applicable conditions precedent thereto under the Agreement and the other Transactions Documents (other than as set forth herein) are hereby
waived. 
 SECTION 3.    Non-Ratable Purchase; Consent.

 (a)    Non-Ratable Purchase.
Notwithstanding the requirements set forth in Sections 1.1 and 1.2 of the Agreement that on the terms and subject to the conditions set forth in the Agreement, each applicable Purchaser makes purchases from the Seller ratably in
accordance with its applicable Percentage, the Seller hereby requests on a one-time basis that in connection with the removal of Wells Fargo as a Purchaser party to the Agreement and the joinder of Santander as a Purchaser party to the Agreement, in
each case, effective as of the date hereof, that otherwise on the terms and subject to the conditions set forth in the Agreement, Santander make a non-ratable purchase on the date hereof in the applicable
amount set forth on Exhibit B hereto. For administrative convenience, the Seller hereby requests that Santander fund the purchase requested hereto to the applicable account set forth on Exhibit B hereto which is the account of Wells
Fargo. Each of the Seller and Santander hereby acknowledge and agree that the Discount Rate with respect to such purchase shall initially be LMIR. 

  

					
	     
	  	- 2 -	 	Amendment No. 5 to A&R RPA (RPM)

 (b)    Capital. After giving
effect to the foregoing purchase by Santander and the payments of each of the applicable amounts set forth in the Payoff Letter, the aggregate outstanding Capital funded by PNC will be $ 82,500,000 and the aggregate outstanding Capital funded by
Santander will be $67,500,000. 
 (c)    Conditions of Purchase. Notwithstanding
the foregoing, and for the avoidance of doubt, Santander shall not be required to make or fund the purchase set forth above unless all the conditions precedent thereto set forth in the Agreement (including, without limitation, those set forth in
Article VI of the Agreement) have been satisfied; provided, however, that the provision of Section 1.2 of the Agreement requiring the delivery of a Purchase Notice in connection with each purchase is
hereby waived solely with respect to the Santander purchase to occur on the date hereof. 

(d)    Consent. Each of the parties hereto consents to the foregoing non-ratable purchase to be funded by Santander on a one-time basis, on the terms set forth in this Section 3. 

SECTION 4.    Amendments to the Agreement. The Agreement is hereby amended as follows: 

(a)    The Agreement is hereby amended to incorporate the changes shown on the marked pages
of the Agreement attached hereto as Exhibit A. 

(b)    Exhibit X to the Agreement is deleted and replaced in its entirety with
Exhibit X hereto. 
 SECTION 5.    Representations and Warranties. Each of the Seller and RPM-Delaware hereby represents and warrants to the Purchasers and the Administrative Agent as of the date hereof as follows: 

(a)    Representations and Warranties. The representations and warranties made by it
in the Transaction Documents (including the Agreement, as amended hereby) 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 such
Person of this Amendment, and the performance of each of its obligations under this Amendment and the Agreement, as amended hereby, are within its corporate powers and have been duly authorized by all necessary action on its part. This Amendment and
the Agreement, as amended hereby, are such Person’s valid and legally binding obligations, enforceable in accordance with their terms. 

(c)    No Default. Both before and immediately after giving effect to this Amendment
and the transactions contemplated hereby, no Amortization Event or Potential Amortization Event exists or shall exist. 

  

					
	     
	  	- 3 -	 	Amendment No. 5 to A&R RPA (RPM)

 SECTION 6.    Conditions to Effectiveness. This
Amendment shall become effective as of the date hereof and concurrently with the effectiveness of the Payoff Letter, subject to the satisfaction of each of the following conditions precedent: 

(a)    receipt by the Administrative Agent of counterparts of this Amendment (whether by
facsimile or otherwise) executed by each of the parties hereto; 
 (b)    receipt by the
Administrative Agent of counterparts of the Fee Letter (whether by facsimile or otherwise) executed by each of the parties hereto; 

(c)    receipt by the Administrative Agent of counterparts of the Payoff Letter (whether by
facsimile or otherwise) executed by each of the parties hereto; 
 (d)    receipt by the
Administrative Agent of counterparts of the EU Risk Retention Agreement (whether by facsimile or otherwise) executed by each of the parties hereto; 

(e)    receipt by the Administrative Agent of good standing certificates of the Seller and RPM-Delaware duly certified by the applicable Secretary of State (or similar official) of the state of organization; 

(f)    receipt by the Administrative Agent of certificates of the Secretary or Assistant
Secretary of the Seller and RPM-Delaware certifying the names and true signatures of the officers authorized on such Person’s behalf to sign the Transaction Documents to be executed and delivered by it on
and after the date hereof; 
 (g)    receipt by the Administrative Agent, of a favorable
opinion regarding corporate and enforceability matters addressed to the Administrative Agent and the Purchasers, in form and substance reasonably satisfactory to the Administrative Agent; 

(h)    receipt by the Administrative Agent of reliance letters addressed to Santander
making them addressees of, with the right to rely on, the various opinions of counsel to the Seller Parties previously delivered to the Purchasers in connection with the Transaction Documents, in each case, in form and substance satisfactory to
Santander and the Administrative Agent; 
 (i)    evidence received by the Administrative
Agent that (i) the “Amendment Fee” under and as defined in the Fee Letter and (ii) each other fee or other amount owing by the Seller under any Transaction Document or in connection with this Amendment or the transactions
contemplated hereby, in each case, have been paid in fully in accordance with the terms of the Fee Letter or such other document to which such fee or amount is payable; and 

(j)    receipt by the Administrative Agent of such other documents and instruments as the
Administrative Agent may reasonably request prior to the date hereof. 
 SECTION 7.    Effect of
Amendment; Ratification. Except as specifically amended hereby, the Agreement is hereby ratified and confirmed in all respects, and all of its provisions 

  

					
	     
	  	- 4 -	 	Amendment No. 5 to A&R RPA (RPM)

 
shall remain in full force and effect. After this Amendment becomes effective, all references in the Agreement (or in any other Transaction Document) to “the Receivables Purchase
Agreement”, “the Amended and Restated Receivables Purchase Agreement”, “this Agreement”, “hereof”, “herein”, or words of similar effect, in each case referring to the Agreement, shall be deemed to be
references to the Agreement as amended hereby. This Amendment shall not be deemed to expressly or impliedly waive, amend, or supplement any provision of the Agreement other than as specifically set forth herein. 

SECTION 8.    Counterparts. This Amendment may be executed in any number of counterparts and by
different parties on separate counterparts, and each counterpart shall be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

SECTION 9.    CHOICE OF LAW. THIS AMENDMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE
LAW OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS
LAW WHICH SHALL APPLY HERETO). 
 SECTION 10.    WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY
WAIVES TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AMENDMENT, ANY DOCUMENT EXECUTED BY THE
SELLER PARTIES PURSUANT TO THE AGREEMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER OR THEREUNDER. 
 SECTION
11.    Section Headings. The various headings of this Amendment are inserted for convenience only and shall not affect the meaning or interpretation of this Amendment or the Agreement or any provision hereof or thereof.

 SECTION 12.    Transaction Document. This Amendment shall constitute a Transaction Document.

 SECTION 13.    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. 
 SECTION
14.    Reaffirmation of Performance Guaranty. After giving effect to this Amendment and each of the other transactions contemplated hereby, all of the provisions of the Performance Guaranty shall remain in full force and
effect and the Performance Guarantor hereby ratifies and affirms the Performance Guaranty and acknowledges that the Performance Guaranty has continued and shall continue in full force and effect in accordance with its terms. 

[SIGNATURE PAGES TO FOLLOW] 

 

  

					
	     
	  	- 5 -	 	Amendment No. 5 to A&R RPA (RPM)

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

			
	 RPM FUNDING CORPORATION,

	 as Seller

		
	 By:
	 	 /s/ Edward W. Moore

	 Name: Edward W. Moore

	 Title: Secretary

  
 Amendment No. 5 to
A&R RPA (RPM) 

 
	
	RPM INTERNATIONAL INC.,
	as Servicer and Performance Guarantor
	
	By: /s/ Edward W. Moore
	Name: Edward W. Moore
	Title:   Senior Vice President, General Counsel, Chief Compliance Officer, and Secretary

  
 Amendment No. 5 to
A&R RPA (RPM) 

 
	
	 SANTANDER BANK, N.A.,

	 as a Purchaser

	
	 By: /s/ Xavier Ruiz Sena

	 Name: Xavier Ruiz Sena

	 Title: Managing Director

  
 Amendment No. 5 to
A&R RPA (RPM) 

 
	
	PNC BANK, NATIONAL ASSOCIATION,
	as a Purchaser and as Administrative Agent
	
	By: /s/ Michael Brown
	Name: Michael Brown
	Title: Senior Vice President
	
	PNC CAPITAL MARKETS LLC,
	as Structuring Agent
	
	By: /s/ Michael Brown
	Name: Michael Brown
	Title: Managing Director

  
 Amendment No. 5 to
A&R RPA (RPM)Exhibit 10.3

PROMISSORY NOTE

 

	$150,000	As of May 31, 2020

 

Northern Genesis Acquisition
Corp. (“Maker”) promises to pay to the order of Northern Genesis Sponsor LLC or its successors or assigns (“Payee”)
the principal sum of One Hundred Fifty Thousand Dollars and No Cents ($150,000) in lawful money of the United States of America,
on the terms and conditions described below. Payee can assign this Note and its rights and obligations to any affiliate of Payee
in Payee’s discretion.

 

1. Principal.
The principal balance of this Note shall be repayable on the earlier of (i) December 31, 2020, (ii) the date on which Maker consummates
an initial public offering of its securities (“IPO”) or (iii) the date on which Maker determines to not proceed with
such IPO.

 

2. Interest.
No interest shall accrue on the unpaid principal balance of this Note.

 

3. Application
of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due
under this Note, including (without limitation) reasonable attorneys’ fees, then to the payment in full of any late charges
and finally to the reduction of the unpaid principal balance of this Note.

 

4. Events
of Default. The following shall constitute Events of Default:

 

(a) Failure
to Make Required Payments. Failure by Maker to pay the principal of this Note within five (5) business days following the date
when due.

 

(b) Voluntary
Bankruptcy, Etc. The commencement by Maker of a voluntary case under the Federal Bankruptcy Code, as now constituted or hereafter
amended, or any other applicable federal or state bankruptcy, insolvency, reorganization, rehabilitation or other similar law,
or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator
(or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment for the
benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action
by Maker in furtherance of any of the foregoing.

 

(c) Involuntary
Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of maker
in an involuntary case under the Federal Bankruptcy Code, as now or hereafter constituted, or any other applicable federal or state
bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or
similar official) of Maker or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs,
and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days.

 

     

     

    

 

5. Remedies.

 

(a) Upon
the occurrence of an Event of Default specified in Section 4(a), Payee may, by written notice to Maker, declare this Note to be
due and payable, whereupon the principal amount of this Note, and all other amounts payable thereunder, shall become immediately
due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything
contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b) Upon
the occurrence of an Event of Default specified in Sections 4(b) and 4(c), the unpaid principal balance of, and all other sums
payable with regard to, this Note shall automatically and immediately become due and payable, in all cases without any action on
the part of Payee.

 

6. Waivers.
Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor,
protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by
Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting
any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or
sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment; and
Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution
issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

 

7. Unconditional
Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement
of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other
party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or
consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted
by Payee with respect to the payment or other provisions of this Note, and agree that additional makers, endorsers, guarantors,
or sureties may become parties hereto without notice to them or affecting their liability hereunder.

 

8. Notices.
Any notice called for hereunder shall be deemed properly given if (i) sent by certified mail, return receipt requested, (ii) personally
delivered, (iii) dispatched by any form of private or governmental express mail or delivery service providing receipted delivery,
(iv) sent by telefacsimile or (v) sent by e-mail, to the following addresses or to such other address as either party may designate
by notice in accordance with this Section:

 

If to Maker:

 

Northern Genesis Acquisition Corp.

4801 Main Street, Suite 1000

Kansas City, MO 64112

Attention: Ian Robertson, Chief
Executive Officer

 

    2

     

    

 

If to Payee:

 

Northern Genesis Sponsor LLC

4801 Main Street, Suite 1000

Kansas City, MO 64112

Attention: Chris Jarratt, Managing Member

 

Notice shall be deemed
given on the earlier of (i) actual receipt by the receiving party, (ii) the date shown on a telefacsimile transmission confirmation,
(iii) the date on which an e-mail transmission was received by the receiving party’s on-line access provider (iv) the date
reflected on a signed delivery receipt, or (vi) two (2) Business Days following tender of delivery or dispatch by express mail
or delivery service.

 

9. Construction.
This Note shall be construed and enforced in accordance with the domestic, internal law, but not the law of conflict of laws, of
the State of New York.

 

10. Severability.
Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction.

 

IN WITNESS WHEREOF,
Maker, intending to be legally bound hereby, has caused this Note to be duly executed the day and year first above written.

 

[Signature Page Follows]

  

    3

     

    

 

	 	NORTHERN GENESIS ACQUISITION CORP. 
	 	 	 
	 	By:	/s/ Ian E. Robertson
	 	Name: 	Ian E. Robertson
	 	Title: 	Chief Executive Officer

 

[Signature Page to Promissory Note]

 

 

4

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