$15,000,000 Revolving Note by Sterile Recoveries, Inc. in Favor of SouthTrust Bank, N.A.

Summary

Sterile Recoveries, Inc. has issued a revolving note to SouthTrust Bank, N.A., promising to repay up to $15 million in loans, plus interest, as outlined in a related credit agreement. The note specifies payment terms, interest rates, and conditions for repayment, including possible acceleration if certain events occur. The agreement is governed by Florida law and requires the borrower to cover collection costs if legal action is needed. This document formalizes the borrower's obligation to repay funds advanced by the lender under the terms of the credit agreement.

EX-10.39 4 0004.txt EXHIBIT 10.39 REVOLVING NOTE $15,000,000.00 June 27, 2000 FOR VALUE RECEIVED, the undersigned, STERILE RECOVERIES, INC., a Florida corporation (the "Borrower"), hereby promises to pay to the order of SOUTHTRUST BANK, N.A. (the "Lender"), at the times, at the place and in the manner provided in the Credit Agreement hereinafter referred to, the principal sum of up to Fifteen Million and 00/100 Dollars ($15,000,000.00), or, if less, the aggregate unpaid principal amount of all Revolving Loans disbursed by the Lender under the Credit Agreement referred to below, together with interest at the rates as in effect from time to time with respect to each portion of the principal amount hereof, determined and payable as provided in the Credit Agreement. This Revolving Note is one of the Revolving Notes referred to in, and is entitled to the benefits of, the Credit Agreement of dated as of February 24, 1999 (as amended, modified or otherwise supplemented from time to time, the "Credit Agreement"), by and between the Borrower, the Guarantors party thereto, the Lender and the other financial institutions party thereto and First Union National Bank as Agent and the other Credit Documents referenced therein. The Credit Agreement contains, among other things, provisions for the time, place and manner of payment of this Revolving Note, the determination of the interest rate borne by and fees payable in respect of this Revolving Note, acceleration of the payment of this Revolving Note upon the happening of certain stated events and the mandatory repayment of this Revolving Note under certain circumstances. The Borrower agrees to pay on demand all costs of collection, including reasonable attorneys, fees, if any part of this Revolving Note, principal or interest, is collected after maturity with the aid of an attorney. Presentment for payment, notice of dishonor, protest and notice of protest are hereby waived. THIS REVOLVING CREDIT NOTE IS MADE AND DELIVERED IN THE STATE OF NORTH CAROLINA AND SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF FLORIDA. IN WITNESS WHEREOF, the Borrower has caused this Revolving Note to be executed under seal by its duly authorized officers as of the day and year first above written. STERILE RECOVERIES, INC. By: /s/ D. JON MCGUIRE ---------------------------- Name: D. Jon McGuire -------------------------- Title: Vice President -------------------------