Credit Agreement
Dated as of December 13, 2005
among
Synalloy Corporation,
together with
Each of the Designated Undersigned entities as Borrowers,
the Lenders from time to time parties hereto,
and
Carolina First bank,
as Agent
Table of Contents
Section Heading Page
Section 1. The Credit Facilities
Section 1.1. Term Loan Commitments
Section 1.2. Revolving Credit Commitments 1
Section 1.3. Letters of Credit 2
Section 1.4. Applicable Interest Rates
Section 1.5. Minimum Borrowing Amounts
Section 1.6. Manner of Borrowing Loans and Desinating
Applicable Interest Period 4
Section 1.7. Interest Periods 6
Section 1.8. Maturity of Loans 7
Section 1.9. Prepayments
Section 1.10. Default Rate
Section 1.11. The Notes 8
Section 1.12. Funding Indemnity 9
Section 1.13. Reserved 9
Section 1.14. Swing Loans
Section 2. Fees
Section 2.1. Fees
Section 3. Place and Application of Payments
Section 3.1. Place and Application of Payments
Section 4. The Collateral
Section 4.1. Collateral
Section 4.2. Reserved
Section 4.3. Further Assurances
Section 5. Definitions; Interpretation
Section 5.1. Definitions
Section 5.2. Interpretation
Section 5.3. Change in Accounting Principles
Section 6. Representations and Warranties
Section 6.1. Organization and Qualification
Section 6.2. Subsidiaries
Section 6.3. Authority and Validity of Obligations
Section 6.4. Use of Proceeds; Margin Stock
Section 6.5. Financial Reports
Section 6.6. No Material Adverse Change
Section 6.7. Full Disclosure
Section 6.8. Trademarks, Franchises, and Licenses
Section 6.9. Governmental Authority and Licensing
Section 6.10. Good Title
Section 6.11. Litigation and Other Controversies
Section 6.12. Taxes
Section 6.13. Approvals
Section 6.14. Affiliate Transactions
Section 6.15. Investment Company; Public Utility Holding
Company
Section 6.16. ERISA
Section 6.17. Compliance with Laws
Section 6.18. Other Agreements
Section 6.19. Solvency
Sect