AMENDED AND RESTATED
REVOLVING CREDIT NOTE
$11,050,000 August 7, 1998
FOR VALUE RECEIVED, the undersigned, STARMET CORPORATION, STARMET
POWDERS, LLC, STARMET AEROCAST, LLC, STARMET COMMERCIAL CASTINGS, LLC, STARMET
NMI CORPORATION, STARMET CMI CORPORATION, STARMET HOLDINGS CORPORATION, NMI
FOREIGN SALES CORPORATION (the "Borrowers"), hereby jointly and severally,
promise to pay to the order of STATE STREET BANK AND TRUST COMPANY, a
Massachusetts trust company ("Bank"), in lawful money of the United States of
America in immediately available funds at its office at 000 Xxxxxxxx Xxxxxx,
Xxxxxx, Xxxxxxxxxxxxx 00000 the principal sum of ELEVEN MILLION FIFTY THOUSAND
DOLLARS ($11,050,000) or such lesser sum as may from time to time be outstanding
under the terms of the Credit Agreement between the Borrowers and Bank of even
date herewith, as amended, modified, supplemented and/or restated from time to
time (the "Credit Agreement").
The Borrowers promise to pay interest on the unpaid principal balance
at the rates and at the times provided in the Credit Agreement. This Note may be
prepaid only in accordance with the terms of the Credit Agreement.
The principal balance of this Note shall be reduced as provided in the
Credit Agreement and the remaining balance shall become due and payable on
February 28, 1999, and earlier upon the occurrence of an Event of Default (as
defined in the Credit Agreement). This Note replaces and supersedes all prior
revolving credit notes issued pursuant to the Credit Agreement. The Borrowers
agree to pay all reasonable legal fees and other costs of collection of this
Note.
No delay or omission on the part of the holder in exercising any right
hereunder shall operate as a waiver of such right, nor shall any waiver on one
occasion be deemed to be an amendment or waiver of any such right with respect
to any future occasion. The Borrowers hereby waive presentment, demand, protest
and notice of every kind and assents to any one or more indulgences, to any
substitution, exchange or release of collateral (if at any time there be
available collateral to the holder of this Note) and to the addition or release
of any other party or persons primarily or secondarily liable.
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This Note shall be governed and construed under the laws of the
Commonwealth of Massachusetts and shall be deemed to be under seal.
STARMET CORPORATION
WITNESS:
/s/ Xxxxxxx X. Xxxxx
-------------------------------
By:/s/Xxxxx X. Xxxxxxx
-----------------------------
Name: Xxxxx X. Xxxxxxx
Title: VP Finance
STARMET POWDERS, LLC
WITNESS:
/s/ Xxxxxxx X. Xxxxx
-------------------------------
By:/s/Xxxxx X. Xxxxxxx
-----------------------------
Name: Xxxxx X. Xxxxxxx
Title: Treasurer
STARMET AEROCAST, LLC
WITNESS:
/s/ Xxxxxxx X. Xxxxx
-------------------------------
By:/s/Xxxxx X. Xxxxxxx
-----------------------------
Name: Xxxxx X. Xxxxxxx
Title: Treasurer
STARMET COMMERCIAL CASTINGS, LLC
WITNESS:
/s/ Xxxxxxx X. Xxxxx
-------------------------------
By:/s/Xxxxx X. Xxxxxxx
-----------------------------
Name: Xxxxx X. Xxxxxxx
Title: Treasurer
Signatures continued on next page
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STARMET NMI CORPORATION
WITNESS:
/s/ Xxxxxxx X. Xxxxx
-------------------------------
By /s/ Xxxxx X. Xxxxxxx
-----------------------------
Name: Xxxxx X. Xxxxxxx
Title: Treasurer
STARMET CMI CORPORATION
WITNESS:
/s/ Xxxxxxx X. Xxxxx
-------------------------------
By /s/ Xxxxx X. Xxxxxxx
-----------------------------
Name: Xxxxx X. Xxxxxxx
Title: Treasurer
STARMET HOLDINGS CORPORATION
WITNESS:
/s/ Xxxxxxx X. Xxxxx
-------------------------------
By /s/ Xxxxx X. Xxxxxxx
-----------------------------
Name: Xxxxx X. Xxxxxxx
Title: Treasurer
NMI FOREIGN SALES CORPORATION
WITNESS:
/s/ Xxxxxxx X. Xxxxx
-------------------------------
By /s/ Xxxxx X. Xxxxxxx
-----------------------------
Name: Xxxxx X. Xxxxxxx
Title: Treasurer
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