Document:

FY2000 10K Ex10.65

Exhibit 10.65

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE
SECURITIES LAWS OF CERTAIN STATES.  THESE SECURITIES ARE SUBJECT TO RESTRICTIONS
ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS
PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO
REGISTRATION OR EXEMPTION THEREFROM.  HOLDERS SHOULD BE AWARE THAT THEY MAY BE
REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD
OF TIME.  THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN
FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED
TRANSFER OR RESALE IS IN COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE
SECURITIES LAWS.

PROMISSORY NOTE

$80,000.00March 13, 2001

Minneapolis, MN

Subject to the terms and conditions of this Note, for good and valuable
consideration received in the form of fifty thousand dollars ($50,000) on March
13, 2001 and thirty thousand dollars ($30,000) on March 16, 2001, PopMail.com,
Inc., a Minnesota corporation (the "Company"), promises to pay to the
order of The Shaar Fund Ltd. (the "Holder"), the principal amount of
eighty thousand dollars ($80,000.00), plus simple interest accrued on unpaid
principal from the date of this Note until paid at the rate of twelve
percent (12%) per annum, payable on demand.

The following is a statement of the rights of the Holder and the terms and
conditions to which this Note is subject, and to which the Holder hereof, by the
acceptance of this Note, agrees.  Neither Holder, its principals or affiliates
have any other obligations, liabilities or responsibilities to the Company
except as expressly set forth in this Note or as may otherwise be agreed to in
writing by the parties.

Payment.  The principal and accrued interest under this Note will be
paid to the Holder within five (5) days of demand by the Holder (the
"Maturity Date").  All payments of principal and/or interest under
this Note will be made by mail to the address of record of the Holder.

Events of Default.  If the Company defaults in the payment of any part
of the principal or interest of this Note when due and payable, and if such
default is not cured by the Company within five (5) business days after the
Holder has given the Company written notice of such default, then the Holder may
declare the entire unpaid principal and accrued interest on this Note
immediately due and payable, by notice in writing to the Company, without any
other presentment, demand, protest or other notice of any kind or character, all
of which are hereby expressly waived, anything herein to the contrary
notwithstanding.  

Assignment.  The rights and obligations of the Company and the Holder
will be binding upon and inure to the benefit of the successors, assigns, heirs,
administrators and transferees of the parties.  The Company may not assign this
Note without the express written consent of Holder.

Waiver and Amendment.  Any provision of this Note may be amended,
waived or modified upon the written consent of the Company and the Holder.

Notices.  Any notice, request or other communication required or
permitted hereunder will be in writing and shall be deemed to have been duly
given if delivered (i) personally or telephonically (including by
facsimile), (ii) by email (if receipt thereof is confirmed by a separate message
delivered by the recipient to the sender), (iii) by courier, or (iv) mailed
by registered or certified mail, postage prepaid, at the respective addresses of
the parties as set forth herein.  Notice to the Holder shall be provided to: The
Shaar Fund Ltd., c/o Levinson Capital Management, Attention: Samuel Levinson, 2
World Trade Center, Suite 1820, New York, NY 10048.  Any party hereto may by
notice so given change its address for future notice under this Note.  Notice
will conclusively be deemed to have been given when personally delivered or when
deposited in the mail or delivered to a courier, or when sent by email following
confirmation in the manner set forth above and will be deemed to have been
received when delivered.

Governing Law.  This Agreement shall be governed by and construed in
accordance with the laws of the State of Minnesota, excluding that body of law
relating to conflict of laws.

Headings.  All headings used herein are used for convenience only and
will not be used to construe or interpret this Note.  

IN WITNESS WHEREOF, the parties have caused this Note to be issued on March
13, 2001.

"COMPANY":

PopMail.com, Inc.

 

By: Stephen J. Spohn

Title: CFO

Address:PopMail.com, Inc.

1333 Corporate Drive, Suite 350

Irving, TX 75038FY2000 10K Ex10.66

Exhibit 10.66

INTERCREDITOR AND
SUBORDINATION AGREEMENT

 

THIS INTERCREDITOR AND SUBORDINATION AGREEMENT (the
"Intercreditor Agreement") is made as of this ___ day of __________, 2001, by
and between GSI VENTURES, LLC, an Ohio limited liability company ("GSI"),
THE SHAAR FUND LTD. ("Shaar"), GREAT WESTERN BUSINESS SERVICES,
INC. ("GWBS"), a Texas corporation and FAIRVIEW PARTNERS, an Ohio
general partnership ("Fairview")(each individually a "Lender" and collectively
the "Lenders").

RECITALS:

WHEREAS, Popmail.com, Inc., a Minnesota corporation (the
"Borrower"), is engaged in the business of (i) internet commerce and (ii) the
ownership and operation of two Café Odyssey restaurants located at 320
South Avenue, Mall of America, Bloomington, Minnesota 55425 (the "MOA
Restaurant") and at 500 16th Street, Suite 350, Denver, Colorado 80202 (the
"Denver Restaurant") (collectively, the MOA Restaurant and the Denver Restaurant
are referred to herein as the "Restaurant Operations"), which the MOA Restaurant
has been or will be purchased by SDK AD, LLC, an Ohio limited liability company,
and which the Denver Restaurant has been or will be purchased by SD KINGDM, LLC,
an Ohio limited liability company;

WHEREAS, the Borrower and GSI are parties to that certain
Loan Agreement dated December 1, 2000, as amended pursuant to the Amendment No.
1 to the Loan Agreement dated December 8, 2000, Amendment No. 2 to the Loan
Agreement and Notes dated February 8, 2001 and other related agreements, all as
may be amended further from time to time (collectively, the "GSI Loan
Documents"), pursuant to which GSI has issued or will issue loans to Borrower in
the aggregate original principal amount of up to Four Million Dollars
($4,000,000) (the "GSI Debt").  Pursuant to the GSI Loan Documents, Borrower has
granted GSI a security interest in all of Borrower's assets related to the
Restaurant Operations (the "Collateral") and a security interest in all other
assets of the Borrower excluding the Restaurant Operations (the "Other
Collateral");

WHEREAS, Borrower and GWBS have agreed to enter into a
certain Promissory Note to be dated  on or about February __, 2001 (the
"GWBS/Popmail Note"), GWBS and SDK AD, LLC have agreed to enter into a certain
Promissory Note to be dated of even date with the GWBS/Popmail Note, and GWBS
and SDKINGDM, LLC have agreed to enter into a certain Promissory Note to be
dated of even date with the GWBS/Popmail Note, and other related documents
thereto, all as may be amended further from time to time (collectively, the
"GWBS Loan Documents") pursuant to which Borrower, SDK AD, LLC and SDKINGDM, LLC
will be obligated to pay GWBS an aggregate principal amount for all three notes
of Eight Hundred Seventeen Thousand Dollars ($817,000.00) (the "GWBS Debt").
Pursuant to the GWBS Loan Documents, Borrower, SDK AD, LLC and SDKINGDM, LLC
have granted or will grant GWBS a security interest in the Collateral;

WHEREAS, Borrower and Shaar are parties to that certain
Loan Agreement dated December 20, 2000 and other related agreements, all as may
be amended further from time to time (collectively, the "Shaar Loan Documents")
pursuant to which Shaar has issued a loan to Borrower in the original principal
amount of Two Hundred Thousand Dollars ($200,000) (the "Shaar Debt").  Pursuant
to the Shaar Loan Agreement, Borrower has granted Shaar a security interest in
the Collateral and the Other Collateral;

WHEREAS, Borrower and Fairview are parties to that
certain Loan Agreement dated August 24, 1999, as amended pursuant to the
Amendment To Loan Documents and Agreement dated October 30, 2000 and other
related agreements (including the Assignment, Assumption and Modification
Agreement entered into or to be entered into between Fairview  SDK AD, LLC
("SDKAD"), SDKINGDM, LLC ("SDKINGDM") and Popmail.com, inc. concerning the
Fairview Debt (the "Fairview Agreement")), all as may be amended further from
time to time (collectively the "Fairview Loan Documents") pursuant to which
Fairview has issued a loan to Borrower in the original principal amount of Two
Million Dollars ($2,000,000) with a current outstanding principal balance of One
Million Five-Hundred Thousand Dollars ($1,500,000) (the "Fairview Debt").
Pursuant to the Fairview Loan Documents, Borrower has granted Fairview a
security interest in the Collateral (the GSI Loan Documents, GWBS Loan
Documents, Shaar Loan Documents and Fairview Loan Documents are sometimes
collectively referred to herein as the "Loan Documents") (the GSI Debt, GWBS
Debt and the Shaar Debt are sometimes collectively referred to as the
"Subordinate Debt" and GSI, GWBS and Shaar are sometimes collectively referred
to as "Subordinate Lenders" or individually as a "Subordinate Lender"); and

WHEREAS, GSI, GWBS, Shaar and Fairview, each as a
creditor of Borrower, desire to enter into this Intercreditor Agreement for
purposes of setting forth the relative rights and interests of each party in and
to the collateral pledged by Borrower.

NOW, THEREFORE, in consideration of the foregoing
Recitals, which are hereby incorporated herein as if fully set forth below, and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:

 

1. Subordination and Intercreditor Provisions.

1.1 Subordination.  Subject to Section 1.3 of this
Intercreditor Agreement, each of the Subordinate Lenders agree that each
Subordinate Lender's right to receive scheduled payments of principal and/or
interest under their respective Loan Documents shall be subordinate and junior
to Fairview's right to receive scheduled payments of principal and/or interest
under the Fairview Loan Documents until such time as the Fairview Debt is repaid
in full.

1.2 Insolvency, Etc.

(a) Subject to Section 1.3 of
this Intercreditor Agreement, in the event of any insolvency, bankruptcy,
receivership, liquidation, reorganization or other similar proceedings
(collectively, "Bankruptcy Proceedings") relative to the Borrower or to the
Collateral, or in the event of any proceedings for voluntary liquidation,
dissolution or other winding up of the Borrower, whether or not involving
insolvency or bankruptcy, Fairview shall be entitled in any such proceedings to
receive payment from the sale or other distribution of the Collateral on account
of the Fairview Debt before the Subordinate Lenders are entitled in any such
proceedings to receive any payment on account of the Subordinate Debt from the
sale or other distribution of the Collateral, and to that end in any such
proceedings any payment or distribution of any kind or character of the
Collateral, whether in cash or in other property, to which the Subordinate
Lenders would be entitled but for the provisions hereof, shall be delivered to
Fairview to the extent necessary to make payment in full in cash of all Fairview
Debt remaining unpaid.

(b) The Subordinate Lenders at the request of Fairview shall
in any proceedings described in Section 00, in the name of Fairview, file
claims, proofs of claims and other instruments of similar character necessary to
enforce the obligations of the Borrower in respect of the Subordinate Debt.  In
the event that any Subordinate Lender shall fail to take such action within five
business days upon request by Fairview, Fairview may, on behalf of such
Subordinate Lender, demand, sue for, collect and receive any and all such monies
or other assets and give acquittance therefor, file any claim, proof of claim or
other instrument of similar character, and take such other action (in its own
name or in the name of such Subordinate Lender) as Fairview may reasonably deem
necessary or advisable for enforcement of the obligations of the Borrower in
respect of the Subordinate Debt; provided that, Fairview shall have no right to
take any action in the name of any Subordinate Lender related to the Other
Collateral.

1.3 Other Collateral; Conversion Rights.  

 (a) Notwithstanding anything to the contrary in this
Intercreditor Agreement, nothing in this Intercreditor Agreement shall impair
the rights of the Subordinate Lenders to take any and all action to enforce
their respective rights in, or receive payments or distributions on account of a
sale or other disposition of the Other Collateral; provided,
however, the Subordinate Lenders shall not take any action to enforce
their respective rights in the Other Collateral that would have a material
adverse effect on the Collateral; provided further, that any
actions taken by a Subordinate Lender to enforce its rights on Other Collateral
that is not owned or in the possession of the holder of the Collateral shall be
deemed to not cause a material adverse effect on the Collateral.

(b) In the event of any Bankruptcy Proceedings relative
to the Borrower or the Other Collateral, or in the event of any proceedings for
voluntary liquidation, dissolution or other winding up of the Borrower, whether
or not involving insolvency or bankruptcy, GSI and Shaar shall be entitled in
any such proceedings to receive payment, on a pro rata basis from the sale or
other distribution of the Other Collateral on account of GSI Debt and Shaar Debt
before Fairview and GWBS are entitled in any such proceedings to receive any
payment on account of the Fairview Debt and GWBS Debt from the sale or other
distribution of the Other Collateral, and to that end in any such proceedings
any payment or distribution of any kind or character of the Other Collateral,
whether in cash or in other property, to which Fairview or GWBS would be
entitled but for the provisions hereof, shall be delivered to GSI and Shaar to
the extent necessary to make payment in full in cash of all GSI Debt and Shaar
Debt remaining unpaid.
(c) Notwithstanding anything to the contrary in this
Intercreditor Agreement, the Subordinate Lenders are permitted at any time to
exercise their rights to convert any of the Subordinate Debt into the common
stock of Borrower or accept any prepayments or payments on the Subordinate Debt
that are made with the Borrower's common stock or other equity securities of
Borrower.

 

2. Security Interests;
Priority.

2.1 Notwithstanding any conflicting terms or conditions
which may be contained in any of the Loan Documents, the time of filing or
renewal of any financing statement, the time of attachment of any security
interest or any other priority provided by law: (a) the security interests upon
the Collateral evidenced by the Fairview Loan Documents shall have priority over
all other security interests upon the Collateral evidenced by the Loan
Documents;  (b) the security interests upon the Collateral of GWBS evidenced by
the GWBS Loan Documents shall have priority over all other security interests
upon the Collateral evidenced by the Loan Documents, except those evidenced by
the Fairview Loan Documents; and (c) the security interests upon the Collateral
of GSI and Shaar shall be subordinate to all security interests evidenced by the
Fairview Loan Documents and GWBS Loan Documents and shall be pari passu with
respect to each other as evidenced by that certain Intercreditor Agreement
between GSI and Shaar dated December 21, 2000 (the "GSI/Shaar Intercreditor
Agreement").  Notwithstanding anything to the contrary herein, this
Intercreditor Agreement shall not affect the rights and obligations between
Shaar and GSI as set forth in the GSI/Shaar Intercreditor Agreement.

2.2 Each Lender shall be solely responsible for
perfecting and maintaining the perfection of its security interests in and to
each item constituting the Collateral in which such Lender has been granted a
security interest.  The provisions of this Intercreditor Agreement are intended
solely to govern the respective lien priorities as between the Lenders and,
except as set forth herein, shall not impose on any Lender any obligations in
respect of the disposition of proceeds of foreclosure on any Collateral which
would conflict with prior perfected claims therein in favor of any other person
or any order or decree of any court or governmental authority or any applicable
law.  Notwithstanding anything to the contrary herein, the relative priority
arrangements set forth in this Intercreditor Agreement are expressly conditioned
on the non-avoidability and perfection of the security interests and/or liens
evidenced by the Loan Documents and if the security interests and/or liens
evidenced by the Loan Documents are not perfected or are voidable for any
reason, then such relative priority arrangements set forth herein shall not be
effective to the extent of any such avoidability or non-perfection;
provided, however, that this condition shall be null and void and
of no effect if at any time any Lender shall directly or indirectly take any
action to contest or challenge the validity, legality, enforceability,
perfection, priority or avoidability of any other Lender's loans or documents or
any of the security interests and/or liens of any other Lender in any of the
Collateral or if such action is taken by SDKAD or SDKINGDM while Fairview is the
manager of either such entity.

2.3 The lien priorities provided in this Section 0 shall
not be altered or otherwise affected by any amendment, modification, supplement,
extension, renewal, restatement or refinancing of any indebtedness evidenced by
any of the Loan Documents.  The respective rights and priorities of each Lender
in any assets of the Borrower not specified herein shall not be affected in any
way by this Intercreditor Agreement.

3. Default Under the Loan Documents.

3.1 In the event that Borrower shall cause or permit
to occur an event of default under any of the Loan Documents, such Lender that
is a party to any such Loan Document (a "Notifying Lender") will, upon becoming
aware of the existence of such event of default, use its best efforts to notify
all other Lenders of the existence of such event of default.  Receipt by any
Lender of such a notice of default shall not cause any Lender to be obligated to
cure any such default.  Failure of a Notifying Lender to provide such notice of
default shall not result in any liability to any Lender in the absence of gross
negligence or willful misconduct.  Upon receiving notice from a Notifying Lender
of an event of default for failure to pay monies due and owing to any Lender
under any Loan Document, any Lender may, but is not required to, cure such
payment default on behalf of Borrower within ten (10) business days of receiving
notice of the payment default from a Notifying Lender.  During such ten (10)
business day period, if any Lender cures such payment default, Lenders shall not
take any action against Borrower with respect to such default.  In the event
that any Lender elects to cure such payment default, any amount such Lender pays
to any other Lender to cure Borrower's payment default shall be considered a
portion of Borrower's indebtedness to such Lender.

3.2 In the event that a default or an event of default
exists with respect to any of the Loan Documents, the applicable Lender may,
after providing written notice of such default to all other Lenders and subject
to the provisions of this Intercreditor Agreement, take any action it deems
appropriate to enforce its rights and remedies under the Loan Documents and its
security interests in or liens on, or exercise any other rights or remedies to
foreclose or otherwise realize upon, any of the Collateral.

3.3 In the event Borrower defaults on its obligations to
any Lender and, as a result, any Lender undertakes to enforce its security
interest in the Collateral, each Lender agrees that it will not hinder, delay or
otherwise prevent such Lender from taking any and all action which such Lender
deems necessary to enforce its security interest in said Collateral and to
realize thereon.  Lenders agree that, to the extent any Lender receives any
proceeds directly from any bank account, any account debtor or from the sale of
any Collateral, then such Lender shall distribute such proceeds in accordance
with the terms of this Intercreditor Agreement.  To the extent that any Lender
retains any Collateral pursuant to its respective rights as a secured party,
such Collateral shall be divided among the Lenders in accordance with the terms
of this Intercreditor Agreement. 

4. Standstill.  (a) Notwithstanding anything to
the contrary in Section 3.3, or the rights of any Lender under applicable law or
any provision of the Loan Documents to the contrary, each Subordinate Lender
hereby covenants that it shall not: 

(i)(A) accelerate payment of any indebtedness or any
portion thereof under the Loan Documents, or  (B) take any other action to
enforce its rights under the Loan Documents, until the earlier of 60 days
following the effective date hereof or the execution of the Fairview Agreement;
provided that, each Lender may take any action to enforce its
rights under the Loan Documents during such 60-day period in the event that a
creditor of the Borrower who is not a party to this Agreement takes any action
or provides notice to a Lender of its intent to take any action against Borrower
to enforce its rights against the Borrower; and

(ii) take any action to enforce their respective rights
in, or receive payments or distributions on account of a sale or other
disposition of the Collateral upon an event of default under a Subordinate
Lender's Loan Documents so long as:
(A) the Fairview Debt is outstanding; and 

(B) (1) the Borrower, its guarantors or assigns are not
in default on the Fairview Loan Documents, or (2) in the event that the
Borrower, its guarantors or assigns are in default on the Fairview Loan
Documents, Fairview has either taken no action  to enforce its rights under the
Fairview Loan Documents or the only action it takes is to take over as manager
of SDKAD and/or SDKINGDM pursuant to its rights under the Fairview Loan
Documents; 

provided that, nothing herein shall impair the
rights of the Subordinate Lenders to take any and all action to enforce their
respective rights in the Other Collateral pursuant to Section 1.3(a) of this
Agreement. 

	Notwithstanding anything to the contrary in Section 3.3,
or the rights of any Lender under applicable law or any provision of the Loan
Documents to the contrary, Fairview hereby covenants that it shall not:

	accelerate payment of any indebtedness or any portion
thereof under the Fairview Loan Documents, or  (B) take any other action to
enforce its rights under the Fairview Loan Documents, until the earlier of 60
days following the effective date hereof or the execution of the Fairview
Agreement; provided that, Fairview may take any action to enforce
its rights under the Loan Documents during such period in the event that a
creditor of the Borrower who is not a party to this Agreement takes any action
or provides notice to Fairview of its intent to take any action against Borrower
to enforce its rights against the Borrower; and

(ii) take any action to enforce its rights in, or receive
payments or distributions on account of a sale or other disposition of the
Collateral upon an event of default of Popmail.com, inc. under the Fairview Loan
Documents so long as (A) an event of default by SDKAD or SDKINGDM (as assignees
of the Fairview Debt) has not occurred, and (B) if such event of default of
Popmail.com, inc. is due to a failure to make payments when due, SDKAD and
SDKINGDM assume the balance of the Fairview Debt not assumed by them under the
Fairview Agreement within the applicable time period provided for in the
Fairview Agreement.

(c) Notwithstanding anything to the contrary in
this Section 4, but subject to Section 1.2, in the event of any Bankruptcy
Proceeding relative to SDKAD, SDKINGDM or the Collateral, or in the event of any
proceedings for voluntary liquidation, dissolution or other winding up of SDKAD
or SDKINGDM, whether or not involving insolvency or bankruptcy, the Subordinate
Lenders may take any and all action to enforce their respective rights under
their respective Loan Documents.

 

5. Prepayments.  Subject to Section 1.3
of this Intercreditor Agreement, without the prior written consent of Fairview,
no Subordinate Lender shall be entitled to receive or retain any optional
prepayment (in cash, property, by set-off or otherwise) of or on account of any
Subordinate Debt.  

6. Turn-Over of Payments Received.  In the
event that the Borrower shall make any payment on the Subordinate Debt which the
holders thereof are not permitted to receive and retain pursuant to the terms of
this Agreement, such payment shall be held in trust for the benefit of, and
shall be paid over promptly on demand to, Fairview for application to the
payment of all Fairview Debt remaining unpaid until the same shall have been
paid in full in cash, after giving effect to any concurrent payment or
distribution to Fairview.  No such payments or distributions to Fairview by any
Subordinate Lender shall be deemed to discharge any of such Subordinate
Debt.

7. Representations and Warranties.  As a
material inducement to each other Lender to enter into this Intercreditor
Agreement, each Lender hereby represents and warrants to each other Lender that
the following are true and correct as of the date hereof and shall remain true
and correct so long as this Intercreditor Agreement is in effect:

7.1 the execution, delivery and performance of this
Intercreditor Agreement has been duly authorized by such Lender and does not
contravene any law, any provision of the Loan Documents or any agreement to
which such Lender is a party or by which it is bound;

7.2 this Intercreditor Agreement constitutes the legal,
valid and binding obligation of such Lender and is binding and enforceable in
accordance with its terms; and

7.3 the Loan Documents to which such Lender is a party
are in the form of the copies thereof made available to each Lender, and no
amendment, waiver or modification thereof shall be permitted without the written
consent of all other Lenders, which shall not be unreasonably withheld or
delayed.

8. Term; Default.  

8.1 This Intercreditor Agreement shall continue for
so long as any Lender has a security interest in the Collateral.  This
Intercreditor Agreement shall remain in full force and effect notwithstanding
the filing of a petition for relief by or against Borrower under the United
States Bankruptcy Code. 
8.2Nothing contained herein, or in any prior agreement or
understanding, shall be deemed to create any duty on the part of any Lender to
extend or continue financial accommodations to Borrower.

 

8.3Notwithstanding anything to the contrary in the Loan
Documents or this Intercreditor Agreement, Lenders acknowledge and agree that
any additional indebtedness up to $4,000,000 of Borrower under the GSI Loan
Documents and additional indebtedness up to $500,000 of Borrower under the
Fairview Loan Documents shall not be considered an event of default or breach of
this Intercreditor Agreement or the Loan Documents and Borrower shall not be
required to obtain the consent of the Lenders to enter into any such
indebtedness; provided, however, such additional indebtedness
shall be subject to the terms of this Intercreditor Agreement.  The additional
indebtedness of  up to $500,000 under the Fairview Loan Documents shall be
considered as part of the Fairview Debt for purposes of this Agreement.

8.4Notwithstanding anything to the contrary in the Loan
Documents or this Intercreditor Agreement, Lenders hereby consent to the
purchase by SDK AD, LLC, an Ohio limited liability company, from the Borrower of
the Collateral associated with the MOA Restaurant and the purchase by SD KINGDM,
LLC, an Ohio limited liability company, from the Borrower of the Collateral
associated with the Denver Restaurant, and hereby waive any default under each
Lender's Loan Documents that such a sale of the Collateral may create;
provided, however, Borrower shall provide five (5) business days
prior written notice to each Lender and shall cause SDK AD, LLC and SD KINGDM,
LLC to execute any and all documents deemed necessary by any Lender to continue
and maintain the Collateral and Lender's lien position in the Collateral,
including but not limited to filing all appropriate UCC's which shall have the
same priority as set forth herein.  The Collateral shall continue to be subject
to the terms and conditions of this Intercreditor Agreement.

9. Miscellaneous.

9.1 Neither of the parties
hereto, nor any of their managers, members, officers, agents or employees, shall
be responsible to any other party hereto or to any other person for: (a)
Borrower's solvency, financial condition or ability to repay its indebtedness to
any party hereto; (b) any oral or written statements of Borrower; or (c) the
validity, sufficiency or enforceability of any indebtedness, any agreements or
documents or the security interests and liens granted by Borrower to any party
hereto. Each party hereto has entered into its respective agreements, documents
and financing agreements with Borrower based upon its own independent
investigation, and makes no warranty or representation to any other party
hereto, with respect to the matters referred to in this Section 0.

9.2 Nothing contained herein, or in any prior agreement
or understanding, shall be deemed to create any duty on the part of any Lender
to extend or continue to extend financial accommodations to Borrower.  

9.3 Each Lender irrevocably waives any right to compel
any other Lender to marshal assets of the Borrower.

9.4 Any notice required or desired to be served, given or
delivered hereunder shall be in the form and manner specified below, and shall
be addressed to the party to be notified as follows:

If to GSI, to:If to GWBS:

SDK Investments, Inc.Great Western
Business Services, Inc.

c/o Barycenter Capital Management14643 Dallas
Parkway, Suite 650

PMB 329Dallas, Texas 75240

1232 W. Kemper Road

Cincinnati, Ohio 45240

Attn: Stephen D.  King

If to Shaar, to:If to Fairview,
to:

The Shaar Fund Ltd. Fairview Partners

c/o Levinson Capital Management5807 McCray
Court

2 World Trade Center, Suite 1820Cincinnati,
Ohio 45224

New York, New York 10048

Attention:  Samuel Levinson

or to such other address as each party designates to the
other parties by notice in the manner herein prescribed.  Notice shall be deemed
given hereunder if (i) delivered personally or otherwise actually received, (ii)
sent by nationally recognized overnight courier service, (iii) mailed by first-
class United States mail, postage prepaid, certified, with return receipt
requested, or (iv) sent via telecopy machine with a duplicate signed copy sent
on the same day as provided in clause (ii) above.  Notice mailed as provided in
clause (iii) above shall be effective upon the expiration of five (5) business
days after its deposit in the United States mail, and notice telecopied as
provided in clause (iv) above shall be effective upon delivery of such telecopy
if the duplicate signed copy is sent under clause (iv) above.  Notice given in
any other manner described in this section shall be effective upon receipt by
the addressee thereof; provided, however, that if any notice is tendered to an
addressee and delivery thereof is refused by such addressee, such notice shall
be effective upon such tender unless otherwise expressly set forth in such
notice.

 

9.5 THIS AGREEMENT SHALL BE DEEMED TO HAVE BEEN MADE IN
THE STATE OF OHIO AND THE VALIDITY OF THIS AGREEMENT, ITS CONSTRUCTION,
INTERPRETATION AND ENFORCEMENT, AND THE RIGHTS OF THE PARTIES HEREUNDER, SHALL
BE DETERMINED UNDER, GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF OHIO. THE PARTIES HERETO AGREE THAT ALL ACTIONS OR PROCEEDINGS
ARISING IN CONNECTION WITH THIS AGREEMENT SHALL BE TRIED AND LITIGATED ONLY IN
THE STATE OR FEDERAL COURTS LOCATED IN HAMILTON COUNTY, OHIO.

9.6 This Intercreditor Agreement shall be binding and
deemed effective when executed by each of the parties hereto.  This
Intercreditor Agreement shall bind, and inure to the benefit of, the respective
successors and assigns of each of the parties hereto, and shall be effective
before and after any bankruptcy filing by or against Borrower.

9.7 The invalidity, illegality or unenforceability of any
provision in or obligation under this Intercreditor Agreement shall not affect
or impair the validity, legality or enforceability of the remaining provisions
or obligations under this Intercreditor Agreement.

9.8 It is not the intent of either the parties hereto
that Borrower be a third party beneficiary hereunder or have any other rights
with respect to this Intercreditor Agreement.

9.9 This Intercreditor Agreement cannot be changed,
amended, modified or terminated except by a written agreement signed by the duly
authorized officers of the parties hereto.  All prior agreements,
understandings, representations, warranties, and negotiations, if any, are
merged into this Agreement.

9.10 LENDERS, TO THE EXTENT EACH
MAY LEGALLY DO SO, HEREBY EXPRESSLY WAIVE ANY RIGHT TO TRIAL BY JURY OF ANY
CLAIM, DEMAND, ACTION, CAUSE OF ACTION OR PROCEEDING ARISING UNDER OR OUT OF
THIS AGREEMENT OR IN ANY WAY CONNECTED WITH OR RELATED TO, OR INCIDENTAL TO, THE
DEALINGS OF THE PARTIES HERETO WITH RESPECT TO THIS AGREEMENT OR THE
TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER
ARISING, AND IRRESPECTIVE OF WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE.
LENDERS, TO THE EXTENT EACH MAY LEGALLY DO SO, HEREBY AGREE THAT ANY SUCH CLAIM,
DEMAND, ACTION, CAUSE OF ACTION, OR PROCEEDINGS SHALL BE DECIDED BY A COURT
TRIAL WITHOUT A JURY AND THAT EITHER PARTY HERETO MAY FILE AN ORIGINAL
COUNTERPART OR COPY OF THIS SECTION 0 WITH ANY COURT AS WRITTEN EVIDENCE OF THE
CONSENT BY THE UNDERSIGNED TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY.

 9.11 For purposes of this Agreement, the term "Borrower"
shall include any successors and assigns to Borrowers duties and obligations
under any of the Loan Documents, including, without limitation, SDKAD and
SDKINGDM.

 9.12 Each Subordinate Lender acknowledges and consents
to Borrower assigning and SDKAD and SDKINGDM assuming a portion of the Fairview
Debt in accordance with the terms of the Fairview Agreement.

9.13 This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original but all of which shall
together constitute one and the same instrument.

 

 

 

[SIGNATURE PAGE TO FOLLOW]

IN WITNESS WHEREOF, this Intercreditor Agreement has been
duly executed and delivered by each of the parties hereto as of the date first
written above.

GREAT WESTERN BUSINESS SERVICES, INC.

WITNESS:

_________________________________By:________________________________<
/P>
Name:______________________________

_________________________________Title:______________________________
_

FAIRVIEW PARTNERS

 

_________________________________By:________________________________<
/P>
Name:______________________________

_________________________________Title:______________________________
_

THE SHAAR FUND LTD.
By:Levinson Capital Management

_________________________________By:______________________________

Name:Sam Levinson 

_________________________________Title:Managing Director 

GSI VENTURES, LLC 
By:SDK Investments, Inc. (Manager

of GSI Ventures, LLC)

_________________________________By:_____________________________

Name:Stephen D. King 

_________________________________Title:President

 

STATE OF ________________)

)SS:

COUNTY OF ______________)

This instrument was acknowledged before us this ________
day of _______________, 2001 by ___________________________,
____________________________ of Great Western Business Services, Inc., a Texas
corporation, on behalf of the corporation.

________________________________________

Notary Public

STATE OF ________________)

)SS:

COUNTY OF ______________)

This instrument was acknowledged before us this ________
day of _______________, 2001 by ___________________________,
____________________________ of Fairview Partners, an Ohio general partnership,
on behalf of the partnership.

________________________________________

Notary Public

STATE OF ________________)

)SS:

COUNTY OF ______________)

This instrument was acknowledged before us this ________
day of _______________, 2001 by Sam Levinson, Managing Director of Levinson
Capital Management, on behalf of the The Shaar Fund Ltd.

________________________________________

Notary Public

STATE OF ________________)

)SS:

COUNTY OF ______________)

This instrument was acknowledged before us this ________
day of _______________, 2001 by Stephen D. King, President of SDK Investments,
Inc., Manager of GSI Ventures, LLC, an Ohio limited liability company, on behalf
of the limited liability company.

________________________________________

Notary Public

 

 

ACKNOWLEDGMENT BY

POPMAIL.COM, INC.

 

 

The undersigned hereby acknowledges that it has received a
copy of the foregoing Intercreditor Agreement by and between Great Western
Business Services, Inc., The Shaar Fund Ltd., GSI Ventures, LLC and Fairview
Partners (the "Intercreditor Agreement"), and consents thereto, and agrees to
recognize all priorities and other rights granted therein to the parties hereto,
and the undersigned will not do any act or perform any obligation which is not
in accordance with the priorities and agreements set forth in the Intercreditor
Agreement. 

Dated:_______________, 2001

 

 

POPMAIL.COM, INC.

WITNESS:

______________________________By:____________________________
____

______________________________Name:__________________________
____

Title:_______________________________

 

STATE OF ________________)

)SS:

COUNTY OF ______________)

This instrument was acknowledged before us this ________
day of _______________, 2001 by ___________________________,
____________________________ of Popmail.com, inc., a Minnesota corporation, on
behalf of the corporation.

________________________________________

Notary Public

 

ACKNOWLEDGMENT BY

SDK AD, LLC

 

The undersigned hereby acknowledges that it has received a
copy of the foregoing Intercreditor Agreement by and between Great Western
Business Services, Inc., The Shaar Fund Ltd., GSI Ventures, LLC and Fairview
Partners (the "Intercreditor Agreement"), and consents thereto, and agrees to
recognize all priorities and other rights granted therein to the parties hereto,
and the undersigned will not do any act or perform any obligation which is not
in accordance with the priorities and agreements set forth in the Intercreditor
Agreement. 

Dated:_______________, 2001

 

 

SDK AD, LLC

WITNESS:

By:  SDK Investments, Inc.

__________________________

__________________________By:
________________________________
Stephen D. King, President

STATE OF ________________)

)SS:

COUNTY OF ______________)

This instrument was acknowledged before us this ________
day of _______________, 2001 by Stephen D. King, President of SDK Investments,
Inc., Manager of SDK AD, LLC, an Ohio limited liability company, on behalf of
the limited liability company.

________________________________________

Notary Public

ACKNOWLEDGMENT BY

SD KINGDM, LLC

 

 

The undersigned hereby acknowledges that it has received a
copy of the foregoing Intercreditor Agreement by and between Great Western
Business Services, Inc., The Shaar Fund Ltd., GSI Ventures, LLC and Fairview
Partners (the "Intercreditor Agreement"), and consents thereto, and agrees to
recognize all priorities and other rights granted therein to the parties hereto,
and the undersigned will not do any act or perform any obligation which is not
in accordance with the priorities and agreements set forth in the Intercreditor
Agreement. 

Dated:_______________, 2001

 

 

SD KINGDM, LLC

WITNESS:

By:  SDK Investments, Inc.

____________________________

____________________________By:
_________________________________

Stephen D. King, President

 

STATE OF ________________)

)SS:

COUNTY OF ______________)

This instrument was acknowledged before us this ________
day of _______________, 2001 by Stephen D. King, President of SDK Investments,
Inc., Manager of SD KINGDM, LLC, an Ohio limited liability company, on behalf of
the limited liability company.

________________________________________

Notary Public

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