Document:

ex42.htm

    Exhibit
4.2

     

    Phoenix
International Ventures, Inc

    

    “Promissory
Note Agreement”

     

    
      	
              NOTE
      AMOUNT

            	 
      
	
              ISSUANCE
      DATE

            	
               __________,
      2008

            
	
              MATURITY
      DATE

            	
               __________,
      2009

            

    

    

    FOR VALUE
RECEIVED, Phoenix International
Ventures, Inc., a Nevada Corporation (OTC BB: PIVN)  hereby
promises to pay __________. (the “Holder”) on ____,
2009 (the “Maturity Date”), or earlier, the Note Amount of ___________ plus accrued and
unpaid interest thereon, in such amounts, at such times and on such terms and
conditions as are specified herein. The Company, and the Holder are sometimes
hereinafter collectively referred to as the “Parties” and each a
“Party” to this
Agreement.

     

    WHEREAS,
the Company desires to accept finance, from the Holder, for working capital
needs.

     

    WHEREAS,
the Holder desires to finance the Company upon the terms and conditions set
forth in this Agreement.

     

    In
consideration of the above recitals, the terms and covenants of this Agreement
and other good and valuable consideration, including the payment of money from
Holder to Company, the receipt of which is hereby acknowledged to be the date of
issuance, and intending to be bound hereby, the Parties agree as
follows:

     

    Article 1  Payment; Repayment;
Interest

     

    Section 1.1 Interest

     

    The
Company shall pay interest on the Note Amount (“Note Amount
Interest”) at the rate of fifteen percent (15%) per annum. Interest shall
be accrued on a monthly basis. The Company shall make mandatory quarterly
payments of interest (the “Note Amount Interest
Payments”), in an amount equal to the interest accrued on the balance of
the Note. The Note Amount Interest Payments shall commence on the third month
following the Issuance Date and shall continue every three months until the
Maturity Date.

    

    Section
1.2 Payment and repayment

     

    Payment.

     

    The
Holder encloses herewith a check payable to, or will immediately make a wire
transfer payment to, “Phoenix International Ventures, Inc.” or to its wholly
owned subsidiary “Phoenix Europe Ventures, Ltd” in the full amount of the
Note.  The date of issuance shall be determined to be the date the
funds appear in the company’s bank account.

    

     Repayment

     

    The
Company shall pay the holder the full Note Amount of __________________ on
_________, 2009 (the “Maturity Date”), or earlier plus accrued and unpaid
interest. There will be no penalties for early repayment.  

    
      
         

      

      
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    Article 2  Incentive
shares

     

    The
Company shall issue to the holder _____________ shares of unregistered,
restricted Common Stock (the “Incentive Shares”) as
an incentive for the Holder entering into this Agreement with the Company. The
Incentive Shares shall be issued and delivered to the Holder upon Closing. The
Company hereby acknowledges that the date of consideration for the Incentive
Shares shall be no later than ten (10) days after date of issuance. The Holder
herby acknowledges that he is aware that these shares are restricted under rule
144 and cannot be sold for a period of at least six (6) months from date of
issuance.

    

    Article
3 
Default and
remedies

     

    There
shall be 2 kinds of defaults recognized under this agreement:

     

    a. In case, the Company defaults on paying
the quarterly interest payments as described in article 1 section 1.1. In such a
case, the Company will have a grace period of ten (10) days in which to come up
with the payment and suffer no penalty. If the company fails to pay within the
ten day period then it shall suffer from an automatic increase of 5% annual
percentage rate increase. This increase shall also be applied retroactively to
the date of the latest payment done by the company.

     

    b. In case, the Company defaults on paying
the whole or part of the principal on Maturity Date, the Company will have a
grace period of ten (10) days in which to come up with the payment and suffer no
penalty. If the company fails to pay within the ten day period then it shall
suffer from an automatic increase of 5% annual percentage rate increase. This
increase shall also be applied retroactively to the date of the latest payment
done by the company.

    

    Article
4  Representations
of Holder

    

    a.           The
Holder acknowledges that the Company is effecting this transaction pursuant to
Regulation D promulgated under the Securities Act of 1933, as amended (the
“Act”) and that all securities (the Note, the shares and the Warrants) will bear
standard restrictive legends and may not be offered or resold absent an
effective registration statement or pursuant to an exemption from the
Act.

    

    b.           The
Holder represents that he is acquiring the securities for investment purposes
with no intention to resell the securities.

    
      
         

      

      
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    IN
WITNESS WHEREOF, the Company has duly executed this Debenture as of the date
first written above.

    
      	 
      	 
      	 
      
	 
      	 
      
	 
      	 
      	
              PHOENIX
      INTERNATIONAL VENTURES, INC.

            
	 
      	 
      	 
      
	 
      	 
      	
                 

            
	 
      	
              
              

              Name: Neev
    Nissenson

            
	 
      	
              Title: Vice
    President

            
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	
              
              

              Name:

               

            
	 
      	 
      

    

     

    

     

    
      
         

      

      
        -3-ex43.htm

    Exhibit
4.3

     

    THE
WARRANT EVIDENCED HEREBY, AND THE SECURITIES ISSUABLE HEREUNDER, HAVE BEEN AND
SHALL BE ISSUED WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR THE APPLICABLE STATE SECURITY LAWS. THE WARRANT AND SUCH SECURITIES
HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE,
AND SHALL NOT BE SOLD, TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS THE PROPOSED
DISPOSITION IS THE SUBJECT OF A CURRENTLY EFFECTIVE REGISTRATION STATEMENT UNDER
SAID ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR UNLESS THE COMPANY HAS
RECEIVED AN OPINION OF COUNSEL, IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO
THE COMPANY, TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED UNDER SAID ACT
AND SUCH STATE SECURITIES LAWS IN CONNECTION WITH SUCH DISPOSITION.

    

    PHOENIX
INTERNATIONAL VENTURES, INC.

    FORM OF
COMMON STOCK PURCHASE WARRANT

    [Warrant
No: ______]

    Original
Issue Date:  ___________ 2008

    Void
After:  11:59 P.M., __________, 2010

    

     

    This
Warrant is Issued to:

     

    ______________________________________________

    

     

    (hereinafter
called the “Holder,”
which term shall include the Holder’s legal representatives, heirs, successors
and assigns) by Phoenix International Ventures, Inc., a Nevada corporation
(hereinafter referred to as the “Company”).  This
Warrant may be transferred by the Holder only in accordance with the provisions
of Section 11.

     

    1.           Exercise of
Warrant.  For value received and subject to the terms and
conditions hereinafter set forth, the Holder is entitled, upon surrender of this
Warrant at any time on or after ___________, 2008 and on or prior
to ____________, 2010 (the “Exercise Date”) (with the
exercise notice form annexed hereto (the “Exercise Notice”) duly
executed) at the office of the Company at 42 Carry Way, Carson City, Nevada
89706, or such other office in the United States of which the Company shall
notify the Holder hereof in writing, to purchase from the Company, at the
purchase price hereinafter specified (as adjusted from time to time, the “Exercise Price”), up to
_____________ shares (the “Warrant Shares”) (as adjusted
from time to time) of the Common Stock, $0.001 par value per share, of the
Company (the “Common
Stock”).  The initial Exercise Price shall be $______________
per share.

     

    2.           Issuance of Stock
Certificates.  As promptly as practicable after surrender of
this Warrant and receipt of payment of the Exercise Price, the Company shall
issue and deliver to the Holder a certificate or certificates for the Warrant
Shares purchased hereunder, in certificates of such denominations and in such
names as the Holder may specify.

    
      
        
        

      

      
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    3.           Payment of Exercise
Price.  Payment of the Exercise Price shall be made by check
made payable to the order of the Company or wire transfer of immediately
available funds to a bank account designated by the Company.

     

    4.           Limitation on
Exercise.  Notwithstanding anything to the contrary contained
herein, the number of Warrant Shares that may be acquired by the Holder upon any
exercise of this Warrant (or otherwise in respect hereof) shall be limited to
the extent necessary to insure that, following such exercise (or other
issuance), the total number of shares of Common Stock then beneficially owned by
such Holder and its affiliates and any other persons whose beneficial ownership
of Common Stock would be aggregated with the Holder’s for purposes of Section
13(d) of the Exchange Act, does not exceed 9.999% of the total number of issued
and outstanding shares of Common Stock (including for such purpose the shares of
Common Stock issuable upon such exercise).  For such purposes,
beneficial ownership shall be determined in accordance with Section 13(d) of the
Exchange Act and the rules and regulations promulgated thereunder.

     

    5.           Adjustment for Dividends,
Distributions, Subdivisions, Combinations, Mergers, Consolidations or Sale of
Assets.

     

    5.1           Manner of
Adjustment.

     

    (a)           Stock Dividends,
Distributions or Subdivisions.  In the event the Company shall
issue shares of Common Stock in a stock dividend, stock distribution or
subdivision, the Exercise Price in effect immediately before such stock
dividend, stock distribution or subdivision shall, concurrently with the
effectiveness of such stock dividend, stock distribution or subdivision, be
proportionately decreased and the number of shares of Common Stock purchasable
by exercise of this Warrant shall be proportionately increased.

     

    (b)           Combinations or
Consolidations.  In the event the outstanding shares of Common
Stock shall be combined or consolidated, by reclassification or otherwise, into
a lesser number of shares of Common Stock, the Exercise Price in effect
immediately prior to such combination or consolidation shall, concurrently with
the effectiveness of such combination or consolidation, be proportionately
increased and the number of shares of Common Stock purchasable by exercise of
this Warrant shall be proportionately decreased.

     

    (c)           Adjustment for
Reclassification, Exchange or Substitution.  In the event that
the class of securities issuable upon the exercise of this Warrant shall be
changed into the same or a different number of shares of any class or classes of
stock, whether by capital reorganization, reclassification or otherwise (other
than any event addressed by Sections 5.1(a), 5.1(b) or 5.1(d)), then and in each
such event the Holder shall have the right thereafter to exercise this Warrant
for the kind and amount of shares of stock and other securities and property
receivable upon such reorganization, reclassification, or other change, by
holders of the number of shares of the class of securities into which such
Warrant might have been exercisable for immediately prior to such
reorganization, reclassification, or change, all subject to further adjustment
as provided herein.

     

    (d)           Adjustment for Merger,
Consolidation or Sale of Assets.  In the event that the Company
shall merge or consolidate with or into another entity or sell all or
substantially all of its assets, this Warrant shall thereafter be exercisable
for the kind and amount of shares of stock or other securities or property to
which a holder of the number of shares of Common Stock of the Company
deliverable upon exercise of this Warrant would have been entitled upon such
consolidation, merger or sale; and, in such case, appropriate adjustment (as
determined in good faith by the Company’s Board of Directors) shall be made in
the application of the provisions set forth in this Section 5 with respect
to the rights and interest thereafter of the Holder of this Warrant, to the end
that the provisions set forth in this Section 5 shall thereafter be
applicable, as nearly as reasonably may be, in relation to any shares of stock
or other property thereafter deliverable upon the exercise of this
Warrant.

    
      
        
        

      

      
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    5.2           Certificate as to
Adjustments.  Upon the occurrence of each adjustment or
readjustment of the Exercise Price pursuant to this Section 5, the Company
at its expense shall promptly compute such adjustment or readjustment in
accordance with the terms hereof and furnish to the Holder a certificate setting
forth such adjustment or readjustment and showing in detail the facts upon which
such adjustment or readjustment is based.

     

    5.3           Closing of
Books.  The Company shall at no time close its transfer books
against the transfer of any shares of Common Stock issued or issuable upon the
exercise of this Warrant in any manner which interferes with the timely and
proper issuance of such shares.

     

    6.           Covenants of the
Company.  During the period within which the rights represented
by this Warrant may be exercised, the Company shall at all times have authorized
and reserved for the purpose of issue upon exercise of the rights evidenced
hereby, a sufficient number of shares of the class of securities issuable upon
exercise of this Warrant to provide for the exercise of such
rights.  All securities which may be issued upon the exercise of the
rights represented by this Warrant shall, upon issuance, be duly authorized,
validly issued, fully paid and non-assessable and free from all taxes, liens and
charges with respect to the issue thereof.  Upon surrender for
exercise, this Warrant shall be canceled and shall not be reissued; provided, however, that upon
the partial exercise hereof a substitute Warrant of like tenor and date
representing the rights to subscribe for and purchase any such unexercised
portion hereof shall be issued.

     

    7.           No Rights as Shareholder
Until Exercise.  This Warrant shall not entitle the Holder to
any voting rights or any other rights as a stockholder of the Company but upon
presentation of this Warrant with the Exercise Notice duly executed and the
tender of payment of the Exercise Price at the office of the Company pursuant to
the provisions of this Warrant, the Holder shall forthwith be deemed a
stockholder of the Company in respect of the securities for which the Holder has
so subscribed and paid.

     

    8.           No Change
Necessary.  The form of this Warrant need not be changed
because of any adjustment in the Exercise Price or in the number of shares
issuable upon its exercise.  A Warrant issued after any adjustment or
any partial exercise or upon replacement may continue to express the same
Exercise Price and the same number of shares (appropriately reduced in the case
of partial exercise) as are stated on this Warrant as initially issued, and that
Exercise Price and that number of shares shall be considered to have been so
changed as of the close of business on the date of adjustment.

     

    9.           Addresses for
Notices.  All notices, requests, consents and other
communications hereunder shall be in writing, either delivered in hand or mailed
by registered or certified mail, return receipt requested, or sent by facsimile,
and shall be deemed to have been duly made when delivered:

     

    If to the
Holder, to the Holder’s address as shown on the books of the Company;
or

     

    If to the
Company, to the address set forth on the first page of this
Warrant.

     

    10.           Substitution.  In
the case this Warrant shall be mutilated, lost, stolen or destroyed, the Company
shall issue a new Warrant of like tenor and denomination and deliver the same
(a) in exchange and substitution for and upon surrender and cancellation of
any mutilated Warrant, or (b) in lieu of any Warrant lost, stolen or
destroyed, upon receipt of evidence satisfactory to the Company of the loss,
theft, or destruction of such Warrant (including, without limitation, a
reasonably detailed affidavit with respect to the circumstances of any loss,
theft or destruction), and of indemnity (or, in the case of the initial Holder
or any other institutional holder, an indemnity agreement) satisfactory to the
Company.

    
      
        
        

      

      
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    11.           Transfer
Restrictions.  This Warrant shall not be transferable by the
Holder and shall be exercisable only by the Holder.  Without the prior
written consent of the Company, the Warrant shall not be assigned, pledged or
hypothecated in any way (whether by operation of law or otherwise) and shall not
be subject to execution, attachment or similar process.  Any attempted
transfer, assignment, pledge, hypothecation or other disposition of the Warrant
or of any rights granted hereunder contrary to the provisions of this Section
11, or the levy of any attachment or similar process upon the Warrant or such
rights, shall be null and void.

     

    12.           Taxes.  The
Company makes no representation about tax treatment to the Holder with respect
to receipt or exercise of the Warrant or acquiring, holding or disposing of the
Warrant Shares, and the Holder represents that the Holder has had the
opportunity to discuss such treatment with the Holder’s tax
advisers.

     

    13.           Remedies.  Each
party stipulates that the remedies at law in the event of any default or
threatened default by the other party in the performance or compliance with any
of the terms of this Warrant are and shall not be adequate, and that such terms
may be specifically enforced by a decree for that specific performance of any
agreement contained herein or by an injunction against a violation of any of the
terms hereof or otherwise.

     

    14.           Governing
Law.  This Warrant shall be construed and enforced in
accordance with, and governed by, the laws of the State of New York without
regard to its principles of conflicts of laws.

     

    15.           Miscellaneous.  This
Warrant and any term hereof may be changed, waived, discharged or terminated
only by an instrument in writing signed by the Holder and the
Company.

     

    

     

    [Remainder
of page intentionally left blank.]

     

    
      
        
        

      

      
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    * *
*

     

    IN
WITNESS WHEREOF, the parties have caused this Warrant to be executed this
__________ day of ____________, 2008.

     

    PHOENIX
INTERNATIONAL VENTURES, INC.

    

    

    By:                                                                           

    Neev
Nissenson, Vice President

    
      
        
        

      

      
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    EXERCISE
NOTICE

    

    PHOENIX
INTERNATIONAL VENTURES, INC.

    

    Warrant
No. ______

    Original
Issue Date:  ___________, 2008

     

    Ladies
and Gentlemen:

    

    (1)           The
undersigned hereby elects to exercise the above-referenced Warrant with respect
to ____________ shares of Common Stock.  Capitalized terms used herein
and not otherwise defined herein have the respective meanings set forth in the
Warrant.

      

    (2)           The
holder shall pay the sum of $____________ to the Company in accordance with the
terms of the Warrant.

    

    (4)           Pursuant
to this Exercise Notice, the Company shall deliver to the Holder the number of
Warrant Shares determined in accordance with the terms of the
Warrant.

     

    (5)           By
its delivery of this Exercise Notice, the undersigned represents and warrants to
the Company that in giving effect to the exercise evidenced hereby the Holder
will not beneficially own in excess of the number of shares of Common Stock (as
determined in accordance with Section 13(d) of the Securities Exchange Act of
1934) permitted to be owned under Section 4 of this Warrant to which this notice
relates.

    

    

    

    HOLDER:-

     

    __________________________

    (Print
name)

    

    By:__________________________         

    

    Title:__________________________

    

    
      
        
        

      

      
        -6-

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