SEC Contract Filing

Filing Date: 2020-07-27

Document Content:
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<TYPE>EX-10.3.5
<SEQUENCE>5
<FILENAME>exhibit10_35.htm
<DESCRIPTION>EX-10.3.5
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3.5 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXECUTION COPY </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">AMENDMENT
NO. 5 TO SECOND AMENDED AND RESTATED RECEIVABLES SALE AGREEMENT </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">This AMENDMENT NO. 5 TO SECOND AMENDED AND RESTATED
RECEIVABLES SALE AGREEMENT (this &#147;<U>Amendment</U>&#148;), dated as of June&nbsp;18, 2018, is among RPM FUNDING CORPORATION, a Delaware corporation (&#147;<U>Buyer</U>&#148;), and each of the entities listed on the signature pages hereto as an
&#147;Originator&#148; (each, an &#147;<U>Originator</U>&#148;; and collectively, the &#147;<U>Originators</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center">RECITALS </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">1.&nbsp;&nbsp;&nbsp;&nbsp;Buyer and the Originators are parties to that certain Second Amended and Restated Receivables Sale
Agreement, dated as of May&nbsp;9, 2014 (as amended, restated, supplemented or otherwise modified through the date hereof, the &#147;<U>Agreement</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">2.&nbsp;&nbsp;&nbsp;&nbsp;Concurrently herewith, Buyer, RPM International Inc., Wells Fargo National Association, PNC Bank,
National Association and PNC Capital Markets LLC are entering into that certain Amendment No.&nbsp;3 to Amended and Restated Receivables Purchase Agreement, dated as of the date hereof (the &#147;<U>RPA Amendment</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">3.&nbsp;&nbsp;&nbsp;&nbsp;Buyer and the Originators desire to amend the Agreement as hereinafter set forth. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">SECTION 1.&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment to the Agreement</U>. The definition of
&#147;<B><I>Excluded Receivable</I></B>&#148; set forth in <U>Exhibit I</U> to the Agreement is hereby amended and restated as follows: <B><I></I></B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:5%; text-indent:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">&#147;<B><I>Excluded Receivable</I></B>&#148; means any account or other right to payment arising from the sale
of goods or the rendering of services by Rust-Oleum Corporation and the Obligor of which is either (i)&nbsp;Lowe&#146;s Companies, Inc. or its Subsidiaries or (ii)&nbsp;Advance Stores Company, Incorporated or its Subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations and Warranties</U>. Each of the Originators and Buyer hereby represents
and warrants to each other, the Purchasers and the Administrative Agent as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:5%; text-indent:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations and Warranties</U>. 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). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:5%; text-indent:5%; font-size:12pt; font-family:Times New Roman" ALIGN="justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Enforceability</U>. 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 or limited liability company powers, as applicable, and have been duly authorized by all
necessary action on its part. </P>
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