TERM LOAN AGREEMENT
THIS TERM LOAN AGREEMENT (this "Agreement") is made, entered into, and effective as of July , 2001 by
and between Dynamic Materials Corporation, a Delaware corporation ("Borrower"), and SNPE, Inc., a
Delaware corporation ("Lender").
W I T N E S S E T H:
WHEREAS, Borrower has requested that Lender extend a $4,000,000 term loan to Borrower;
WHEREAS, Lender has agreed to make such Term Loan available to Borrower, subject to the terms and on the
conditions set forth in this Agreement;
NOW, THEREFORE, in consideration of the terms and conditions contained herein, and of any loan or other
financial accommodation heretofore, now or hereafter made by Lender to or on behalf of Borrower, the parties
hereby, intending to be legally bound, agree as follows:
SECTION 1. DEFINITIONS.
In addition to the capitalized terms defined elsewhere in this Agreement, the following capitalized terms shall have
the meanings set forth below:
"Business Day" shall mean a day other than a Saturday, Sunday, or a legal holiday on which banks are authorized
or required to be closed in the State of Colorado or the State of New York.
"Closing Date" shall mean July , 2001.
"Federal Funds Rate" shall mean for any day, the rate per annum (rounded upwards, if necessary, to the nearest
1/100th of 1%) equal to the weighted average of the rates on overnight federal funds transactions with members
of the Federal Reserve System arranged by federal funds brokers on such day, as published by the Federal
Reserve Bank of New York on the Business Day next succeeding such day, provided that if such day is not a
Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding
Business Day as so published on the next succeeding Business Day.
"Loan Documents" shall mean this Agreement, the Note, the Stock Pledge Agreement and any other instrument
or agreement now or hereafter executed by Borrower in connection with the Term Loan.
"Note" shall mean t