EXHIBIT 10.5 TERM LOAN NOTE

EXHIBIT 10.5

TERM LOAN NOTE

$20,000,000 March 5, 2003

This Term Loan Note is executed and delivered under and pursuant to the
terms of that certain Fourth Amended and Restated Revolving Credit and Security
Agreement dated as December 26, 2001 (as amended by that certain First Amendment
to Fourth Amended and Restated Revolving Credit and Security Agreement dated
February 4, 2002 and that certain Second Amendment to Fourth Amended and
Restated Revolving Credit Security Agreement dated the date hereof and as may be
further amended, supplemented or modified from time to time, collectively the
"Credit Agreement") by and among RADNOR HOLDINGS CORPORATION, WINCUP HOLDINGS,
INC., RADNOR CHEMICAL CORPORATION, STYROCHEM U.S., LTD., RADNOR DELAWARE II,
INC., WINCUP TEXAS, LTD., STYROCHEM DELAWARE, INC., STYROCHEM GP, L.L.C.,
STYROCHEM LP, L.L.C., WINCUP GP, L.L.C. AND ▇▇▇▇▇▇ LP, L.L.C. (each, a "Maker"
and jointly and severally, the "Makers"), the financial institutions named
therein and the financial institutions which hereafter become a party thereto
(collectively, the "Lenders"), PNC BANK, NATIONAL ASSOCIATION as lead arranger
and administrative agent for the Lenders (in such capacity, the "Agent"), and
FLEET CAPITAL CORPORATION as documentation agent (in such capacity as
"Documentation Agent"). Capitalized terms not otherwise defined herein shall
have the meanings ascribed thereto in the Credit Agreement.

FOR VALUE RECEIVED, the undersigned Makers, jointly and severally, hereby
promise to pay to the order of PNC BANK, NATIONAL ASSOCIATION ("Lender"), at the
offices of Agent, in such coin or currency of the United States which shall be
legal tender in payment of all debts and dues, public and private, at the time
of payment, the principal sum of TWENTY MILLION DOLLARS ($20,000,000), or such
lesser sum which then represents the aggregate unpaid principal balance of
▇▇▇▇▇▇'s Commitment Percentage of the Term Loan, together with interest from and
after the date hereof on the unpaid principal balance outstanding at the
applicable per annum rate(s) set forth in the Credit Agreement.

This Term Loan Note ("Note") is the term loan note referred to in, and is
issued pursuant to, the Credit Agreement, and is subject to all the terms and
conditions of and entitled to all of the benefits and security of the Credit
Agreement. All capitalized terms used herein, unless otherwise specifically
defined in this Note, shall have the meanings ascribed to them in the Credit
Agreement.

Interest shall accrue at the rates set forth (including, if applicable, a
default rate), and shall be computed in the manner provided, in Article III of
the Credit Agreement. In no event whatsoever shall interest and other charges
charged hereunder exceed the highest rate permissible under law. In the event
interest and other charges as computed hereunder would otherwise exceed the
highest rate permitted under law, such excess amount shall be first applied to
any unpaid principal balance owed by Makers, and if the then remaining excess
amount is greater than the previously unpaid principal balance, Lender shall
promptly refund such excess amount to Makers and the provisions hereof shall be
deemed amended to provide for such permissible rate.

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Interest shall be charged and payable on the outstanding balance hereunder
at the applicable rate provided in the Credit Agreement notwithstanding and even
following the occurrence of any Event of Default, acceleration, judgment,
bankruptcy or reorganization proceedings or any other event or occurrence.

The principal amount of this Note shall be due and payable in the amounts,
on the dates and in the manner set forth in the Credit Agreement.

This Note shall evidence the unconditional obligation of Makers to repay to
Lender the outstanding balance of the Term Loan made to Makers by Lender with
interest thereon and all fees, costs and expenses in connection therewith.

Reference is made to the Credit Agreement for provisions concerning
prepayment and acceleration of the outstanding balance of the Obligations of
Makers under this Note. This Note is secured by and shall have the benefits of
the Collateral described in the Credit Agreement.

Upon the occurrence of an Event of Default, Lender shall have all of the
rights and remedies set forth in Article 11 of the Credit Agreement. The rights
and options of Lender under this Note shall be enforced by Agent under the terms
and conditions hereof and of the Credit Agreement.

Time is of the essence in the performance of this Note. To the fullest
extent permitted by applicable law, each Maker, for itself and its legal
representatives, successors and assigns, expressly waives presentment, demand,
protest, notice of dishonor, notice of non-payment, notice of maturity, notice
of protest, presentment for the purpose of accelerating maturity, diligence in
collection, and the benefit of any exemption or insolvency laws.

No delay or failure on the part of Agent or Lender in the exercise of any
right or remedy hereunder shall operate as a waiver thereof, nor as an
acquiescence in any default, nor shall any single or partial exercise by Agent
or Lender of any right or remedy preclude any other right or remedy. Agent, at
its option, may enforce its rights against any collateral securing this Note
without enforcing its rights against any Maker, any guarantor of the
indebtedness evidenced hereby or any other property of any Maker. Each Maker
agrees that, without releasing or impairing such Makers liability hereunder,
Agent may at any time release, surrender, substitute or exchange any collateral
securing this Note and may at any time release any party primarily or
secondarily liable for the indebtedness evidenced by this Note.

This Note shall be construed and governed by the laws of the Commonwealth
of Pennsylvania without reference to its conflicts of laws rules. The provisions
of this Note are severable and the invalidity or unenforceability of any
provision shall not alter or impair the remaining provisions of this Note. No
modification hereof shall be binding or enforceable against Lender unless
approved in writing by ▇▇▇▇▇▇.

MAKER HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF

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ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (A) ARISING UNDER THIS NOTE OR ANY
OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION
HEREWITH, OR (B) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE
DEALINGS OF MAKER, LENDER AND/OR AGENT OR ANY OF THEM WITH RESPECT TO THIS NOTE
OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN
CONNECTION HEREWITH, OR THE TRANSACTIONS RELATED HERETO OR THERETO IN EACH CASE
WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR
TORT OR OTHERWISE AND SUCH MAKER HEREBY CONSENTS THAT ANY SUCH CLAIM, DEMAND,
ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND
THAT SUCH MAKER, AGENT AND/OR LENDER MAY FILE AN ORIGINAL COUNTERPART OR A COPY
OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH MAKER
TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY.

Any judicial proceeding brought by or against Makers or any of them with
respect to this Note or any related agreement may be brought in any court of
competent jurisdiction located in the Commonwealth of Pennsylvania, and, by
execution and delivery of this Note, each Maker accepts for itself and in
connection with its properties, generally and unconditionally, the non-exclusive
jurisdiction of the aforesaid courts, and irrevocably agrees to be bound by any
judgment rendered thereby in connection with this Note. Each Maker hereby waives
personal service of any and all process upon it and consents that all such
service of process may be made upon it in the manner provided for in Section
15.1 of the Credit Agreement. Each Maker waives any objection to jurisdiction
and venue of any action instituted hereunder and shall not assert any defense
based on lack of jurisdiction or venue or based upon forum non conveniens. Any
judicial proceeding by any Maker against Agent or Lender involving, directly or
indirectly, any matter or claim in any way arising out of, related to or
connected with this Note or any related agreement, shall be brought only in a
federal or state court located in the County of Philadelphia, Commonwealth of
Pennsylvania.

IN WITNESS WHEREOF, Makers, intending to be legally bound, have caused this
0Note to be duly executed and delivered on the date first above written.

WINCUP HOLDINGS, INC.

By: /s/ ▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
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▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, Sr. Vice President, Treasurer

RADNOR CHEMICAL CORPORATION

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STYROCHEM U.S., LTD.
By: StyroChem GP, LLC, its General Partner
By: Radnor Chemical Corporation, its Sole Member

RADNOR HOLDINGS CORPORATION

RADNOR DELAWARE II, INC.

STYROCHEM DELAWARE, INC.

WINCUP TEXAS, LTD.
By: WinCup GP, LLC, its General Partner
By: WinCup Holdings, Inc., its Sole Member

STYROCHEM GP, L.L.C.
By: Radnor Chemical Corporation, its Sole Member

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STYROCHEM LP, L.L.C.
By: Radnor Chemical Corporation, its Sole Member

By: /s/ ▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
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▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, Sr. Vice President, Treasurer

WINCUP GP, L.L.C.
By: WinCup Holdings, Inc. its Sole Member

WINCUP LP, L.L.C.
By: WinCup Holdings, Inc. its Sole Member

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EXHIBIT 10.5 TERM LOAN NOTE

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