Exhibit 10.9
EXECUTION COPY
TERM LOAN AGREEMENT
between
SPARTECH CORPORATION
and
CALYON NEW YORK BRANCH
Dated as of February 16, 2005
TABLE OF CONTENTS
PAGE
ARTICLE 1
DEFINITIONS
SECTION 1.1. Defined Terms
1
SECTION 1.2. Other Interpretive Provisions
8
SECTION 1.3. Accounting Principles
9
ARTICLE 2
THE TERM LOAN
SECTION 2.1. The Term Loan
9
SECTION 2.2. Evidence of Debt
9
SECTION 2.3. Procedure for Borrowing
10
SECTION 2.4. Prepayment
10
SECTION 2.5. Repayment
10
SECTION 2.6. Interest
10
SECTION 2.7. Fees
10
SECTION 2.8. Computation of Interest and Fees
11
SECTION 2.9. Payments by the Company
11
ARTICLE 3
TAXES, YIELD PROTECTION AND ILLEGALITY
SECTION 3.1. Taxes
12
SECTION 3.2. Illegality
13
SECTION 3.3. Increased Costs and Reduction of Return
14
SECTION 3.4. Funding Losses
15
SECTION 3.5. Inability to Determine Rates
15
SECTION 3.6. Certificates of Bank
16
SECTION 3.7. Survival
16
TABLE OF CONTENTS
PAGE
ARTICLE 1
DEFINITIONS
SECTION 1.1. Defined Terms
1
SECTION 1.2. Other Interpretive Provisions
8
SECTION 1.3. Accounting Principles
9
ARTICLE 2
THE TERM LOAN
SECTION 2.1. The Term Loan
9
SECTION 2.2. Evidence of Debt
9
SECTION 2.3. Procedure for Borrowing
10
SECTION 2.4. Prepayment
10
SECTION 2.5. Repayment
10
SECTION 2.6. Interest
10
SECTION 2.7. Fees
10
SECTION 2.8. Computation of Interest and Fees
11
SECTION 2.9. Payments by the Company
11
ARTICLE 3
TAXES, YIELD PROTECTION AND ILLEGALITY
SECTION