|
|
|
|
|
|
|
|
|
|
St. Louis, Missouri
|
|
US
$10,000,000.00
|
|
January 1, 2009
|
For value received, the undersigned, Zoltek
Companies, Inc., a Missouri corporation, Zoltek Corporation, a
Missouri corporation, (individually and collectively hereinafter
“ Borrowers ”; all references to
“Borrowers” or “Borrower” shall mean each
and all of the Borrowers), hereby jointly and severally promise to
pay to the order of Southwest Bank of St. Louis (the “
Bank ”), in lawful money of the United States of
America, the principal sum of Ten Million Dollars and no/00
($10,000,000.00), or if less, the amount outstanding under the
Credit Agreement (as hereinafter defined), together with interest
from the date hereof at the rate provided for in the Credit
Agreement. Principal and interest of this Note shall be payable at
the time or times provided in the Credit Agreement.
This Revolving Credit Note (this “
Note ”) is the Revolving Credit Note referred to in,
and is issued pursuant to, that certain Credit Agreement between
the Borrowers and the Bank dated even date herewith (as amended or
otherwise modified from time to time, the “ Credit
Agreement ”), and is entitled to all of the benefits and
security of the Credit Agreement. All of the terms, covenants and
conditions of the Credit Agreement and all other instruments
evidencing or securing the indebtedness hereunder are hereby made a
part of this Note and are deemed incorporated herein in full. All
capitalized terms used herein, unless otherwise specifically
defined in this Note, shall have the meanings ascribed to them in
the Credit Agreement.
This Note is
secured by the Collateral described in the Credit
Agreement.
Interest hereunder shall be computed on, the
basis of actual days elapsed over the period of a 360-day year.
Upon or after the occurrence and during the continuation of any
Event of Default, the outstanding principal balance of this Note
shall bear interest at a variable rate per annum equal to the
Default Rate until the principal balance of this Note is paid in
full.
|
