Exhibit 10.39

 

TERM C NOTE

 

New York, New York

[Date]

 

FOR VALUE RECEIVED, the undersigned, CONSTAR INTERNATIONAL INC., a Delaware
corporation (the “Borrower”), hereby unconditionally promises to pay to the
order of [Lender] (the “Lender”), at the office of [Lender] at [Address], on the
Term C Loan Maturity Date (terms used without definition shall have the meanings
assigned to such terms in that certain Amended and Restated Credit Agreement
dated as of December 23, 2003 (as amended, modified, extended or restated from
time to time, the “Credit Agreement”), among the Borrower, the Lenders parties
thereto, Citicorp North America, Inc., as Administrative Agent, Citigroup Global
Markets Inc. and Deutsche Bank Securities Inc. (“DBSI”), as Joint Lead
Arrangers, JPMorgan Chase Bank, as Documentation Agent, SunTrust Bank, as
Co-Documentation Agent and DBSI, as Syndication Agent, the aggregate unpaid
principal amount of all Term C Loans made by the Lender to the Borrower pursuant
to Section 2.01 of the Credit Agreement, such payment or payments to be in
immediately available funds in Dollars, and to pay interest from the date hereof
on such principal amount from time to time outstanding, in like funds, at said
office, at a rate or rates per annum and payable on such dates as are determined
pursuant to the Credit Agreement.

 

The Borrower promises to pay interest, on demand, on any overdue principal of
and, to the extent permitted by law, overdue interest on the Loans from their
due dates at a rate or rates determined as set forth in the Credit Agreement.

 

The Borrower hereby waives diligence, presentment, demand, protest and notice of
any kind whatsoever. The nonexercise by the holder of any of its rights
hereunder in any particular instance shall not constitute a waiver thereof in
that or any subsequent instance.

 

All Loans evidenced by this Note and all payments and prepayments of the
principal hereof and interest hereon (including the currencies in which such
payments, prepayments and interest are denominated) and the respective dates
thereof shall be endorsed by the holder hereof on the schedule attached hereto
and made a part hereof, or on a continuation thereof which shall be attached
hereto and made a part hereof, or otherwise recorded by such holder in its
internal records; provided, however, that any failure of the holder hereof to
make such a notation or any error in such notation shall not in any manner
affect the obligation of the Borrower to make payments of principal and interest
in accordance with the terms of this Note and the Credit Agreement.

 

This Note evidences Loans referred to in the Credit Agreement which, among other
things, contains provisions for the acceleration of the maturity hereof upon the
happening of certain events, for optional and mandatory prepayment of the
principal hereof prior to the maturity hereof and for the amendment or waiver of
certain provisions of the Credit Agreement, all upon the terms and conditions
therein specified. This Note is entitled to the benefit of the Credit Agreement,
including the guarantees thereunder. THIS NOTE SHALL BE CONSTRUED IN

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ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

 

CONSTAR INTERNATIONAL INC.

By:

 

 

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Name:

   

Title:

 

-2-

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Loans and Payments

 

Amount and

Type of Loan

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Maturity Date

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Payments

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Unpaid Principal
Balance of Note

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Name of Person

Making Notation

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Principal

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Interest

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