Document:

1ST AMENDEMENT TO THE 7% NOTES DUE MAY 31, 2008

  8TH AMENDMENT TO LOAN TRANSACTION AGREEMENT
 

 THIS AMENDMENT TO LOAN TRANSACTION AGREEMENT (the “Amendment”) is made and entered into effective as of the 10th day of March, 2010, by and between Silvergraph International, Inc. (the “Company”) and the undersigned holders of promissory notes referenced below (the “Holders”), upon the following premises:
 

 A.
 Holders are the holders of certain 7% Convertible Promissory Notes dated January 25, 2008 (the “Notes”) which were purchased from the Company pursuant to the terms of a Subscription Agreement and Security Agreement of the same date.   
 

 B.
 The obligations represented by the Notes have been amended by a 1st Amendment to the 7% Notes due May 31, 2008, dated May 31, 2008; a 2nd Amendment to the 7% Notes Due June 30, 2008, dated June 20, 2008; a 3rd Amendment to the 7% Notes due August 31, 2008, dated August 31, 2008; a 4th Amendment to the 7% Notes due October 31, 2008,  a 5th Amendment to the 7% Notes due December 15, 2008, a 6th Amendment to the 7% Notes due January 31, 2009, and; a 7th Amendment to the 7% Notes due January 31, 2009  (the “Prior Amendments”) which are incorporated herein by reference.   For purposes of this Amendment, the Notes, Subscription Agreement and Security Agreement, as amended by the Prior Amendments, are hereby collectively referred to as the “Bridge Loan Agreement.”
 

 C.
 The Company requires thirteen thousand five hundred dollars ($13,500.00) for working capital in order to file its 2009 10-K.
 

 D.
 The Company has asked for, and the Antaeus Capital Partners, LLC and Thomas G. Schuster have agreed to invest thirteen thousand five hundred dollars ($13,500) under the terms and conditions of the Bridge Loan Agreement.  As consideration for such extension, the Company has agreed to grant to Holders shares of common stock of the Company.  
 

 NOW, THEREFORE, in consideration of the above premises and for good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto agree as follows:    
 

 1.
 Working Capital Investment.  Antaeus Capital Partners, LLC and Thomas G. Shuster agree to purchase common stock of the Company at a price equal to $.05 per share as follows:
  
 A.
 Antaeus Capital Partners, LLC
 Investment Amount:
 $9,416.25
 Shares of common stock of Company:    188,325
 

 B.
 Thomas G. Schuster
 Investment Amount: 
 $4,083.75
 Shares of common stock of Company:    81,675
 

 2.
 Issuance of Shares.    The Company will issue to each Holder a stock certificate of the Company representing the respective number of shares of Common Stock opposite Holder’s 
 

 Amendment to Loan Transaction Agreement
 Page 1
 

 
 name, below.  The Company represents that Shares upon issuance:  (a) shall be free of any liens, claims and encumbrances, subject to restrictions upon transfer under the Securities Act of 1933 (the “1933 Act”) and any applicable state securities laws, (b) shall not have been issued or sold in violation of any preemptive or other similar rights of the holders of any securities of the Company, and; (c) has completed the previously announced 66 / 1 reverse split.  Holders each represent that:  (a)  Holder is an “accredited investor” as such term is defined in Regulation D promulgated under the 1933 Act and is experienced in investments and business matters; and (b) Holder is acquiring the Shares as set forth opposite Holder’s signature, as principal for its or his own account for investment purposes only and not with a view to or for distributing or reselling such Shares or any part thereof, without prejudice, however, to Holder’s right at all times to sell or otherwise dispose of all or part of the Shares in compliance with applicable federal and state securities laws.    Holders further acknowledge the Shares are “restricted securities” within the meaning of the 1933 Act, and as such may not be sold in the absence of registration or an exemption from such registration.
 

 3.
 Cooperation.  Each of the Parties to this Amendment agree to execute such documents and take such further action as may be necessary to carry out the objectives of this Amendment.  In addition, the Company covenants to take all reasonable steps to comply with the terms of the Bridge Loan Agreement.
 

 4.
 Scope of Amendment.  Except as amended above, the terms contained in the Bridge Loan Agreement (including the Prior Amendments) shall remain the same and in full force and effect.   
 

 [Signature page follows]
 

 

 

 Amendment to Loan Transaction Agreement
 Page 2
 

 
 IN WITNESS WHEREOF, this Amendment has been executed and delivered on the date hereof by the duly authorized representative of the Company and the Holders.
 

 COMPANY:
 

 SILVERGRAPH INTERNATIONAL, INC.
 

 

 By:
 /s/ James R. Simpson
 Name:
 James R. Simpson
 Title:
 Chief Executive Officer
 Date:
 3/9/2010
 

 HOLDERS:
 

 ANTAEUS CAPITAL PARTNERS, LLC
 

 By: 
 /s/ Cesar Moya
 188,325
 Name: 
 Cesar Moya
 No. of Shares
 Title:
 Authorized Signatory
 Date: 
 3/9/2010
 

 THOMAS G. SCHUSTER
 

 /s/ Thomas G. Schuster
 81,675
 Name:
 Thomas G. Schuster
 No. of Shares
 Date:
 3/10/2010
 

 ROBERT J. NEBORSKY M.D. INC. 
 COMBINATION RETIREMENT TRUST
 

 

 By: 
 0
 Name: Robert J. Neborsky
 No. of Shares
 Title:
 Authorized Signatory
 Date:
 

 

 

 Amendment to Loan Transaction Agreement
 Page 3OPTION AGREEMENT

  

 

 

 Exhibit 10.1                   Bridge Gap Konsult - Rival Technologies 
 
Pilot Project Financing Agreement 
 (non-recourse)
 

 This Agreement made as of the   7th day of December 2009 
 

 BETWEEN:
 Bridge Gap Konsult, an Alberta corporation, with an office at 
 Suite 1200, 340 – 12 Avenue, S.W., Calgary Alberta, Canada T2R 1L5
 (herein called "Bridge Gap")
  OF THE FIRST PART
 

 AND:
 Rival Technologies Inc., a Nevada corporation, with an office at 
 375 N. Stephanie Street, Suite 1411, Henderson, Nevada, USA, 89014
 (herein called "Rival")
 OF THE SECOND PART
 WHEREAS:
 

 (a)
 Bridge Gap agrees to provide  Rival, Stage One project financing in the amount of USD $6,000,000 in accordance with  Schedule A - TRU Process Pilot Plant dated December 1, 2009  and;
 

 (b)
 Upon completion and detailed review of costs for Stage One, Bridge Gap agrees to provide  Rival, Stage Two project financing in the amount of USD $16,000,000 in accordance with  Schedule A - TRU Process Pilot Plant dated December 1, 2009, and;
 

 (c)
 Upon completion of Stage Two,  a detailed review of costs and agreed upon selection of a suitable operating partner,  Bridge Gap agrees to provide  Rival Stage Three project financing in the amount of USD $115,000,000 in accordance with  Schedule A - TRU Process Pilot Plant dated December 1, 2009  (herein called the “Schedule A”) and;
 

 (d)
 Both companies agree to proceed immediately in accordance with Schedule A - TRU Process Pilot Plant dated December 1, 2009 (herein called the “Schedule A”).
 

 NOW, THEREFORE THIS AGREEMENT WITNESSES that in consideration of the payments and the premises, mutual covenants and agreements herein contained, the parties agree as follows:
 

 1.
 REPRESENTATIONS AND WARRANTIES
 

 1.1 
 Bridge Gap represents and warrants to Rival that:
 

 (a)
 it is a body corporate duly incorporated, organized and validly subsisting under the laws of the province of Alberta;
 (b)
 it has obtained all corporate authorizations for the execution and performance of this Agreement and any agreements referred to or contemplated herein;
 (c)
 the execution and delivery of this Agreement and any of the agreements referred to or contemplated herein, will not conflict with or result in the breach of any agreement to which it is a party;
 (d)
 the execution and delivery of this Agreement and any of the agreements referred to or contemplated herein, will not violate or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of its constating documents;
 

 Page 1
 [Initials DT/D]
 

 
 

 

 

 

 1.2 
 Rival represents and warrants to Bridge Gap that:
 

 (a)
 it is a body corporate duly incorporated, organized and validly subsisting under the laws of the State of Nevada;
 

 (b)
 it has obtained all corporate authorizations for the execution and performance of this Agreement and any agreements referred to or contemplated herein;
 

 (c)
 the execution and delivery of this Agreement and any of the agreements referred to or contemplated herein, will not conflict with or result in the breach of any agreement to which it is a party;
 

 (d)
 the execution and delivery of this Agreement and any of the agreements referred to or contemplated herein, will not violate or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of its constating documents.
 

 2.
 ADDITIONAL PARTICIPANTS AND FUTURE AGREEMENTS
 

 2.1
 The parties agree the Advisory board to a special purpose Project company will include David Crombie, Dr. Doug Exall, Dr. James Speight and others deemed necessary as the project moves forward.
 2.2
 Rival will provide Bridge Gap with a quarterly unaudited financial statements and a yearly audited financial statement detailing the financial affairs of Rival. Bridge Gap will be entitled to inspect the books and records of the project at any time.
 2.3
 The parties agree that on or before the completion of Stage Two they will enter into an Agreement which will, in addition to the standard provisions, contain clauses providing for the following:    
   (a) possibility of additional equity investors in Stage Three of the project.
 2.4
 The parties agree that on or before starting Stage Three they will enter into  an Agreement which will, in addition to the standard provisions, contain clauses providing for the following:
   (a)  future revenue sharing in the form of a trailing royalty tied to production plant output
 

        (b) consideration to Rival for a license fee minimally equivalent to the total non-recourse                  project funding
 

 3.
 NOTICE
 

 3.1
 Any notice, direction or other communication required or permitted to be given under this Agreement shall be in writing and may be given by the delivery of the same as follows:
 

   (a) If to Rival at:
    375 N. Stephanie Street, Suite 1411, Henderson, NV, USA 89014
   (b) If to Bridge Gap at:   Suite 1200, 340 12 Avenue, S.W., Calgary, AB, Canada T2R 1L5
 

 3.2
 Any notice, direction or other communication aforesaid will be deemed to have been given and received on the day it was delivered.
 

 3.3
 Any party may at any time give to the other party notice in writing of any change of address of the party filing such notice, and from and after the filing of such notice, the address specified will be the address of such party for the purposes of filing notice hereunder.  
 

 Page 2
 [Initials DT/D]
 

 
 

 

 

 

 

 4.
 GENERAL PROVISIONS
 

 4.1
 Arbitration:
 The parties agree that all questions or matters of dispute as to the interpretation or effect or any provision of this Agreement or any schedules attached hereto shall be finally settled by arbitration carried out by a single arbitrator in accordance with the provisions of the Commercial Arbitration Act of New York.  The parties agree that the award of such arbitrator shall be binding upon each of them as to law and fact and there shall be no appeal.
 

 4.2
 Further Assurances: 
 The parties will execute such further and other documents and do such further and other things as may be necessary or convenient to carry out and give effect to the intent of this Agreement.
 

 4.3
 Entire Agreement: 
 This Agreement constitutes the entire agreement between the parties and replaces and supersedes all prior agreements, memoranda, correspondence, communications, negotiations and representations, whether oral or written, express or implied, statutory or otherwise between the parties with respect to the subject matter herein.  This Agreement may not be amended or modified except by an instrument in writing signed by each of the parties hereto.
 

 4.4
 Waiver: 
 No consent or waiver, express or implied, by any party to or of any breach or default by any other party of any or all of its obligations under this Agreement will be valid unless it is in writing and stated to be a consent or waiver hereunder.
 

 4.5
 Manner of Payment: 
 All payments to be made to any party hereunder may be made by bank draft wire transfer delivered to such party at its address for notice purposes as provided herein
 

 4.6
 Time of the Essence:
 Time is hereby expressly made of the essence with respect to the performance by the parties of their respective obligations under this Agreement.
 

 4.7
 Schedules: 
 The following schedules are incorporated into this Agreement by reference:
 

 (1)
 Schedule A - TRU Process Pilot Plant dated December 1, 2009
 

 

 4.8
 Governing Law: This Agreement shall be construed and governed by the laws in force in the State of Nevada. This paragraph shall not be construed to affect the rights of a party to enforce a judgment or award outside the said State.
 

 4.9
 Headings: 
 The headings to the articles, paragraphs, parts or clauses of this Agreement and the table of contents are inserted for convenience only and shall not affect the construction hereof.
 

 4.10
 Currency: 
 Except as expressly stated herein all dollar amounts refer to lawful currency of the United States of America.
 

 4.11
 Independent Legal Advice:
 Each of the parties acknowledges and confirms that it has been provided sufficient opportunity to obtain the recommended independent legal advice and understands the terms of, and its rights and obligations under this Agreement.
 

 Page 3
 [Initials DT/D]
 

 
 

 

 

 

 4.12
 Termination:  By notice given subject to the terms hereof, this Agreement may be terminated as follows:
 

             (a)   By Rival if a material breach of any provision of this Agreement has been committed by                Bridge Gap and such breach has not been waived by Rival;
 

             (b)   By Bridge Gap if a material breach of any provision of this Agreement has been committed           by Rival and such breach has not been waived by Bridge Gap; or
 

             (c)    By mutual consent of Rival and Bridge Gap.
 

 

 

 5.0         SCHEDULES 
 

  Schedule A - TRU Process Pilot Project
  Engineering, construction and Funding Schedule - December 1, 2009
 

 

 
 

 Page 4
 [Initials DT/D]
 

 
 

 

 

 

 SIGNATURE PAGE
 

 

 

 

 

 

 

 

 

 

 

 IN WITNESS WHEREOF the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.
 

 SIGNED, SEALED AND DELIVERED by
 )
 Rival Technologies Inc.
 )
 )
 )
 C/S
 )
 _/s/ Douglas B. Thomas                            
 )
 Douglas B. Thomas, President & CEO                    
 

 

 

 

 

 SIGNED, SEALED AND DELIVERED by
 )
 Bridge Gap Konsult
 )
 )
 )
 C/S
 )
 /s/ David Crombie                             
 )
 David Crombie, President & CEO
 

 

 

 

 Page 5
 [Initials DT/D]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00172-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00172-of-00352.parquet"}]]