Document:

Term., Assign., Assum. Agreement

    
      

      

    

    Exhibit
      10.2

     

     

    TERMINATION
      AND ASSIGNMENT AND ASSUMPTION AGREEMENT

     

    THIS
      TERMINATION AND ASSIGNMENT AND ASSUMPTION AGREEMENT (this "Agreement") is made
      and entered into October 20, 2006, by and among ZONE MINING LIMITED, a Nevada
      corporation (“Parent”), ZM ACQUISITION CORP., a Delaware corporation and
      wholly-owned subsidiary of Parent (“Merger Sub”), and DRIVEITAWAY, INC., a
      Delaware corporation (“DIA”), TRIDENT GROWTH FUND, L.P., a Delaware limited
      partnership (“Trident”). 

     

    Recitals

     

    WHEREAS,
      Parent,
      Merger Sub, DIA and Stonewell Partners LLP, the principal shareholder of DIA
      (the “Principal Shareholder”) are parties to that certain Agreement and Plan of
      Merger dated as of September 21, 2006 (the “Merger Agreement”); and

     

    WHEREAS,
      on
      September 21, 2006, Parent and Merger Sub issued a 12% Senior Secured
      Convertible Debenture in the principal amount of up to $1,000,000 (the “Parent
      Debenture”) and a Common Stock Purchase Warrant (the “Parent Warrant”) to
      acquire up to 500,000 shares of Parent’s common stock to Trident for an
      aggregate purchase price of $1,000,000 (of which $800,000 has been advanced
      by
      Trident) pursuant to that certain Securities Purchase Agreement (the “ZM
      Securities Purchase Agreement”), dated as of September 21, 2006, by and among
      Parent, Merger Sub and Trident (the “Trident Financing”); and 

     

    WHEREAS,
      in
      connection with the Trident Financing, (i) each of Parent and Merger Sub granted
      a first priority lien on all of their respective assets in favor of Trident
      pursuant to that certain Security Agreement, dated as of September 21, 2006,
      by
      and among Parent, Merger Sub and Trident (the “ZM Security Agreement”), and (ii)
      DIA granted a first priority lien on all of its assets in favor of Trident
      pursuant to that certain Security Agreement, dated as of September 21, 2006,
      by
      and between DIA and Trident (the “DIA Security Agreement”); and

     

    WHEREAS,
      Parent
      agreed to loan up to $1,000,000 (of which $800,000 has been advanced by Parent)
      to DIA pursuant to that certain Promissory Note dated September 21, 2006 issued
      by DIA in favor of Parent (the “DIA Note); and

     

    WHEREAS,
      Parent
      has agreed to subordinate the obligations arising under the DIA Note to those
      obligations arising out of the Trident Financing pursuant to that certain
      Subordination Agreement, dated as of September 21, 2006, by and between Parent
      and Trident (the “Subordination Agreement”); and 

     

    WHEREAS,
      Parent,
      Merger Sub, DIA and the Principal Shareholder have mutually agreed to terminate
      the Merger Agreement; and 

     

    WHEREAS,
      Parent
      and DIA wish to amend the terms of the DIA Note; and

     

    WHEREAS,
      Parent
      and Merger Sub wish to satisfy all of their obligations to Trident under the
      Trident Financing (the “Trident Debt”), including cancellation of the Parent
      Debenture and Parent Warrant, by (i) assigning all of its right, title and
      interest in and to the DIA Note to Trident, (ii) the issuance by Parent to
      Trident of a Common Stock Purchase Warrant (the “New Warrant”) to acquire
      100,000 shares of Parent Common Stock, and (iii) the issuance by DIA to Trident
      of 200,000 shares of the common stock of DIA (the “DIA Shares”);
      and

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    WHEREAS,
      Trident
      has agreed to accept the items described in clauses (i) - (iii) above in
      satisfaction of such obligations; and

     

    WHEREAS,
      the
      Boards of Directors of Parent, Merger Sub and DIA have approved, and deem it
      advisable and in the best interests of their respective companies and
      stockholders to consummate, the transactions contemplated hereby upon the terms
      and subject to the conditions set forth in this Agreement.

     

    NOW,
      THEREFORE,
      in
      consideration of the foregoing premises and the representations, warranties,
      covenants and agreements contained herein, and for other good and valuable
      consideration, the receipt and sufficiency of which are hereby acknowledged,
      and
      intending to be legally bound hereby, the parties hereto hereby agree as
      follows:

     

    ARTICLE
      I

     

    ASSIGNMENT
      AND ASSUMPTION; DISCHARGE; TERMINATION

    
       

    

    1.1    Assignment
      and Assumption; Discharge; Termination.

     

    Upon
      the
      terms and subject to the conditions set forth in this Agreement, on the Closing
      Date (as defined below), the following transactions (the “Transactions”) shall
      be deemed to be consummated: 

    

    (a)    Parent
      and DIA shall amend the DIA Note by execution and delivery of the Amended and
      Restated Note in the form attached hereto as Exhibit
      A
      (the
“Amended and Restated DIA Note”);

    

    (b)    Parent
      hereby assigns all of it right, title and interest in and to the Amended and
      Restated DIA Note to Trident and Trident hereby accepts such assignment and
      the
      New Warrant and the DIA Shares in full and complete satisfaction of any and
      all
      obligations of Parent or Merger Sub to Trident related to the Trident Debt
      and
      shall release Parent and Merger Sub from their respective obligations related
      to
      the Trident Debt; 

    

    (c)    In
      consideration of the forgoing assignment, Parent, Merger Sub and Trident shall
      terminate the ZM Securities Purchase Agreement, the ZM Security Agreement and
      the Subordination Agreement and Trident shall deliver the Parent Debenture
      and
      Parent Warrant to Parent for cancellation; and 

    

    (d)    DIA
      and
      Trident shall amend the DIA Security Agreement by execution and delivery of
      the
      Amended and Restated DIA Security Agreement in the form attached hereto as
      Exhibit
      B
      (the
“Amended and Restated DIA Security Agreement”); and

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    (e)    DIA
      shall
      issue the DIA Shares to Trident.

    

    1.2    Closing
      Date; Deliveries.

     

    The
      closing of the Transactions (the “Closing”) shall take place concurrent with the
      execution hereof. At the Closing:

     

    (a)    DIA
      shall
      execute and deliver the Amended and Restated DIA Note to Parent;

     

    (b)    DIA
      and
      Trident shall execute the Amended and Restated DIA Security
      Agreement;

     

    (c)    the
      ZM
      Securities Purchase Agreement, the ZM Security Agreement and the Subordination
      Agreement shall be terminated and shall have no further force and
      effect;

     

    (d)    Trident
      shall deliver the Parent Debenture and the Parent Warrant to Parent for
      cancellation;

     

    (e)    Parent
      shall deliver the New Warrant to Trident; 

    

    (f)    Parent
      shall deliver the Amended and Restated DIA Note to Trident, which note shall
      be
      properly endorsed “payable to the order of Trident Growth Fund,
      L.P.”;

     

    (g)    Parent,
      Merger Sub and Trident shall execute the mutual general release substantially
      in
      the form attached hereto as Exhibit
      C;

     

    (h)    Parent,
      Merger Sub and DIA shall execute the mutual general release substantially in
      the
      form attached hereto as Exhibit
      D;
      

     

    (i)    DIA
      shall
      deliver to Trident a stock certificate evidencing the DIA Shares;

    

    (j)    at
      the
      request and expenses of Parent, Trident shall execute and deliver all documents
      necessary to release the liens on Parent’s and Merger Sub’s assets, including,
      without limitation, UCC-3 termination statements; and

     

    (k)    each
      of
      the parties hereto shall execute any and all documents, certificates, consents
      and agreements necessary to effectuate the Transactions as contemplated hereby.
      

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      II

     

    REPRESENTATIONS
      AND WARRANTIES OF THE PARTIES

     

    Each
      party hereto hereby makes the following representations and warranties to the
      other parties hereto:

    

    2.1    Authorization;
      Validity and Effect of Agreement. 

     

    Each
      party has the requisite power (corporate or otherwise) and authority to execute,
      deliver and perform its obligations under this Agreement and the agreements
      delivered at the Closing in accordance with Section 1.2 and to consummate the
      Transactions. The execution and delivery of this Agreement and the agreements
      delivered at the Closing in accordance with Section 1.2 by each such party
      and
      the performance by such party of its obligations hereunder and thereunder and
      the consummation of the Transactions have been duly authorized by its board
      of
      directors or authorized person, as the case may be, and all other necessary
      corporate or organizational action on the part of such party, and no other
      corporate or organizational proceedings on the part of such party are necessary
      to authorize this Agreement, the agreements delivered at the Closing in
      accordance with Section 1.2 and the Transactions. 

     

    2.2    No
      Conflict.

     

    Each
      party represents and warrants that neither the execution and delivery of this
      Agreement, the performance of its obligations hereunder, nor the consummation
      of
      the Transactions, will: (i) conflict with the certificate of incorporation,
      articles of incorporation, bylaws or other organizational documents of such
      party or (ii) violate any statute, law, ordinance, rule or regulation applicable
      to such party or any of its properties or assets.

     

    2.3    Value
      of
      DIA Shares and New Warrant.

     

    (a)    DIA
      acknowledges and agrees that the DIA Shares currently have a nominal
      value.

    

    (b)    Parent
      and Merger Sub acknowledge and agree that the New Warrant currently has a
      nominal value.

     

    ARTICLE
      III

     

    CERTAIN
      COVENANTS

     

    3.1    Further
      Assurances.

     

    Each
      of
      the parties hereto agrees to use its reasonable best efforts to take or cause
      to
      be taken all action, to do or cause to be done, and to assist and cooperate
      with
      the other party hereto in doing, all things necessary, proper or advisable
      under
      applicable laws to consummate and make effective, in the most expeditious manner
      practicable, the Transactions, including, but not limited to: (i) the
      satisfaction of the conditions precedent to the obligations of any of the
      parties hereto; (ii) the defending of any lawsuits or other legal proceedings,
      whether judicial or administrative, challenging this Agreement or the
      performance of the obligations hereunder; and (iii) the execution and delivery
      of such instruments, and the taking of such other actions, as the other party
      hereto may reasonably require in order to carry out the intent of this
      Agreement.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      IV

     

    MISCELLANEOUS
      

     

    4.1    Entire
      Agreement.

     

    This
      Agreement and the schedules and exhibits hereto contain the entire agreement
      between the parties and supersede all prior agreements and understandings,
      both
      written and oral, among the parties with respect to the subject matter hereof.
      

     

    4.2    Amendment
      and Modifications.

     

    This
      Agreement may not be amended, modified or supplemented except by an instrument
      or instruments in writing signed by the party against whom enforcement of any
      such amendment, modification or supplement is sought.

     

    4.3    Successors
      and Assigns.

     

    This
      Agreement shall be binding upon and inure to the benefit of the parties hereto
      and their respective successors and assigns; provided,
      however,
      that no
      party hereto may assign its rights or delegate its obligations under this
      Agreement without the express prior written consent of the other parties hereto.
      Except as expressly set forth herein, nothing in this Agreement is intended
      to
      confer upon any person not a party hereto (and their successors and assigns)
      any
      rights, remedies, obligations or liabilities under or by reason of this
      Agreement.

     

    4.4    Headings;
      Definitions.

     

    The
      Section and Article headings contained in this Agreement are inserted for
      convenience of reference only and will not affect the meaning or interpretation
      of this Agreement. All references to Sections or Articles contained herein
      mean
      Sections or Articles of this Agreement unless otherwise stated. All capitalized
      terms defined herein are equally applicable to both the singular and plural
      forms of such terms.

    

    4.5    Severability.

     

    If
      any
      provision of this Agreement or the application thereof to any person or
      circumstance is held to be invalid or unenforceable to any extent, the remainder
      of this Agreement shall remain in full force and effect and shall be reformed
      to
      render the Agreement valid and enforceable while reflecting to the greatest
      extent permissible the intent of the parties. 

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

       

    

    4.6    Notices.

     

    All
      notices hereunder shall be sufficiently given for all purposes hereunder if
      in
      writing and delivered personally, sent by documented overnight delivery service
      or, to the extent receipt is confirmed, telecopy, telefax or other electronic
      transmission service to the appropriate address or number as set forth
      below.

    

    
      	 	
              If
                to the Parent or Merger Sub:

               

            	 	
              with
                a copy to:

               

            	 
	 	
              Zone
                Mining Limited 

              111
                Presidential Boulevard

              Suite
                165

              Bala
                Cynwyd, PA 19004

              Attention:
                Stephen P. Harrington, President

               

            	 	
              Fox
                Rothschild LLP

              997
                Lenox Drive, Building 3

              Lawrenceville,
                NJ 08648

              Attention:
                Vincent A. Vietti, Esquire

               

            	 
	 	
              If
                to DIA:

               

            	 	
              with
                a copy to:

               

            	 
	 	
              Driveitaway,
                Inc.

              c/o
                John Possumato

              17
                East Vassar Road

              Audubon,
                NJ 08610

            	 	
              Buchanan
                Ingersoll & Rooney PC

              1835
                Market Street, 14th Floor

              Philadelphia,
                PA 19103

              Attention:
                Brian S. North, Esquire

               

            	 
	 	
              If
                to Trident:

               

            	 	
              with
                a copy to:

               

            	 
	 	
              Trident
                Growth Fund, L.P.

              700
                Gemini

              Houston,
                TX 77058

              Attention:
                Larry St. Martin

               

            	 	
              Apple Norris
                & Fink, L.L.P.

              735
                Plaza Boulevard, Suite 200

              Coppell,
                Texas 75019

              Attn:
                Jeff Fink, Esquire

            	 

    

     

    4.7    Governing
      Law.

     

    This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Texas, without regard to the laws that might otherwise govern under
      applicable principles of conflicts of laws thereof.

     

    4.8    Counterparts.

     

    This
      Agreement may be executed in two or more counterparts and delivered by facsimile
      transmission, each of which shall be deemed to be an original, but all of which
      together shall constitute one and the same agreement. 

     

    [Signature
      page follows]

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed this Agreement as of the date first above
      written.

     

    
      	 	 	 
	 	ZONE
              MINING LIMITED
	 
 	 
 	 
 
	 	By:  	/s/ Stephen
              P. Harrington
	 	
              
                

              

              Stephen P. Harrington

              President 

            

    

     

    
      	 	 	 
	 	
              ZM
                ACQUISITION CORP.

            
	 
 	 
 	 
 
	 	By:  	/s/ Stephen
              P. Harrington
	 	
              

              Stephen
                P. Harrington

              President
                

            

    

     

    
      	 	 	 
	 	
              DRIVEITAWAY,
                INC.

            
	 
 	 
 	 
 
	 	By:  	/s/ David
              M.
              Sola
	 	
              

              David
                M. Sola

              Chairman 

            

    

     

    
      	 	 	 
	 	
              TRIDENT
                GROWTH FUND, L.P.

            
	 	 
	 	By:	TRIDENT MANAGEMENT, LLC, its
               general
              partner
	 	
            	
              
 
	 	 	 
	 	By:  	/s/ Scotty
              Cook
	 	
              
Scotty
              Cook
              Authorized
                Member 

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

     

     

     

    EXHIBIT
      A

     

    FORM
      OF AMENDED AND RESTATED PROMISSORY NOTE 

     

     

     

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    

     

    EXHIBIT
      B

     

    FORM
      OF AMENDED AND RESTATED SECURITY AGREEMENT

     

    

     

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

     

     

     

    EXHIBIT
      C

     

    FORM
      OF MUTUAL GENERAL RELEASE (TRIDENT)

     

     

    
 

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

     

     

     

    EXHIBIT
      D

    

    FORM
      OF GENERAL
      RELEASE (PARENT)

    

     

     

     

    11Amended, Restated Promissory Note

    
      

      

    

    Exhibit
      10.3

    
 

    AMENDED
      AND RESTATED PROMISSORY NOTE

    

    

    $800,000

    October
      20, 2006

      

    FOR
      VALUE
      RECEIVED, DRIVEITAWAY, INC., a Delaware corporation (the “Company”),
      hereby promises to pay to the order of ZONE MINING LIMITED, a Nevada
      corporation, (the “Holder”),
      the
      principal sum of $800,000 on or before September 21, 2007 (the “Maturity
      Date”),
      and
      to pay interest to the Holder on the then outstanding principal amount of this
      Note in accordance with the provisions hereof. 

    

    The
      Company shall pay interest, in cash, to the Holder on the then outstanding
      principal amount of this Note at the rate of 12% per annum, payable monthly
      in
      arrears in cash via wire transfer or by automated bank transfer in immediately
      available and freely transferable funds (as requested by Holder), on the last
      day of each month for the period beginning on the date of this Note and ending
      on the Maturity Date or such earlier or later time when this Note is paid or
      prepaid in full (except that, if any such date is not a business day, then
      such
      payment shall be due on the next succeeding business day) (each such date,
      an
“Interest
      Payment Date”).
      

    

    Interest
      shall be calculated on the basis of a 360-day year and shall accrue daily
      commencing on the date of this Note until payment in full of the principal
      sum,
      together with all accrued and unpaid interest and other amounts which may become
      due hereunder, has been made. 

    

    All
      overdue accrued and unpaid interest to be paid hereunder shall entail a late
      fee
      at the rate of 18% per annum (or such lower maximum amount of interest permitted
      to be charged under applicable law or regulation) (“Late
      Fee”)
      which
      will accrue daily, from the date such interest is due hereunder through and
      including the date of payment.

    

    The
      Company may prepay all or any portion of the then outstanding principal amount
      of this Note without any prepayment premium or discount by providing Holder
      not
      less than 30 days prior written notice.

    

    “Event
      of Default”,
      wherever used herein, means any one of the following events (whatever the reason
      and whether it shall be voluntary or involuntary or effected by operation of
      law
      or pursuant to any judgment, decree or order of any court, or any order, rule
      or
      regulation of any administrative or governmental body):

    

    i.  any
      default in the payment of any amount due under this Note when the same shall
      become due and payable (whether on the Maturity Date or by acceleration or
      otherwise) which is not cured within three (3) business days;

    

    ii.  the
      Company shall fail to observe or perform any other covenant or agreement
      contained in this Note or any document or agreement securing this Note which
      failure is not cured, if possible to cure, within the earlier to occur of (A)
      10
      Business Days after notice of such default sent by the Holder or by any other
      Holder and (B) 10 Business Days after the Company shall become or should have
      become aware of such failure;

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    

    iii.  any
      of
      the following events shall have occurred (a) the Company commences a case or
      other proceeding under any bankruptcy, reorganization, arrangement, adjustment
      of debt, relief of debtors, dissolution, insolvency or liquidation or similar
      law of any jurisdiction relating to the Company; (b) there is commenced against
      the Company any such case or proceeding that is not dismissed within 60 days
      after commencement; (c) the Company is adjudicated insolvent or bankrupt or
      any
      order of relief or other order approving any such case or proceeding is entered;
      (d) the Company suffers any appointment of any custodian or the like for it
      or
      any substantial part of its property that is not discharged or stayed within
      60
      days; (e) the Company makes a general assignment for the benefit of creditors;
      (f) the Company calls a meeting of its creditors with a view to arranging a
      composition, adjustment or restructuring of its debts; (g) the Company, by
      any
      act or failure to act, expressly indicates its consent to, approval of or
      acquiescence in any of the foregoing or takes any corporate or other action
      for
      the purpose of effecting any of the foregoing; or (h) an application for the
      appointment of a receiver or liquidator for the Company or any of its material
      assets; or

    

    iv.  the
      Company shall default in any of its obligations under any mortgage, credit
      agreement or other facility, indenture agreement, factoring agreement or other
      instrument under which there may be issued, or by which there may be secured
      or
      evidenced any indebtedness for borrowed money or money due under any long term
      leasing or factoring arrangement of the Company in an amount exceeding $100,000,
      whether such indebtedness now exists or shall hereafter be created and such
      default shall result in such indebtedness becoming or being declared due and
      payable prior to the date on which it would otherwise become due and
      payable.

    

    If
      any
      Event of Default occurs, the full principal amount of this Note, together with
      interest and other amounts owing in respect thereof, to the date of acceleration
      shall become, at the Holder’s election, immediately due and payable in cash.
      Commencing 5 days after the occurrence of any Event of Default that results
      in
      the eventual acceleration of this Note, the interest rate on this Note while
      such Event of Default is continuing shall accrue at the rate of 18% per annum,
      or such lower maximum amount of interest permitted to be charged under
      applicable law or regulation. All Notes for which the full principal amount
      hereunder shall have been paid in accordance herewith shall promptly be
      surrendered to or as directed by the Company. The Holder need not provide and
      the Company hereby waives any presentment, demand, protest or other notice
      of
      any kind, and the Holder may immediately and without expiration of any grace
      period enforce any and all of its rights and remedies hereunder and all other
      remedies available to it under applicable law. Such declaration may be rescinded
      and annulled by Holder at any time prior to payment hereunder and the Holder
      shall have all rights as a Note holder until such time, if any, as full payment
      shall have been received by it. No such rescission or annulment shall affect
      any
      subsequent Event of Default or impair any right consequent thereon.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

             
      Affirmative
      Covenants. So
      long as any portion of this Note is outstanding and unless the Holder otherwise
      consents in writing, which consent may be withheld in the sole discretion of
      the
      Holder, the Company will:

    

    a)                 
      Taxes
      and Liens. 
      Promptly pay, or cause to be paid, all taxes, assessments and other governmental
      charges which may lawfully be levied or assessed upon the income or profits
      of
      the Company, or upon any property, real, personal or mixed, belonging to the
      Company, or upon any part thereof, and also any lawful claims for labor,
      material and supplies which if unpaid, might become a lien or charge against
      any
      such property; provided,
      however,
      the
      Company shall not be required to pay any such tax, assessment, charge, levy
      or
      claim so long as the validity thereof shall be actively contested in good faith
      by proper proceedings; but, provided further
      that any
      such tax, assessment, charge, levy or claim shall be paid or bonded in a manner
      satisfactory to the Holder upon the commencement of proceedings to foreclose
      any
      lien securing the same.

    

    b)                 
      Business
      and Existence. 
      Do or cause to be done all things necessary to preserve and to keep in full
      force and effect any licenses necessary to the business of the Company, its
      corporate existence and rights of its franchises, trade names, trademarks,
      and
      permits which are reasonably necessary for the continuance of its business;
      and
      continue to engage principally in the business currently operated by the
      Company.

     

    c)                 
      Insurance
      and Properties. 
      Keep its business and properties insured at all times with responsible insurance
      companies and carry such types and amounts of insurance as are required by
      all
      federal, state and local governments in the areas which the Company does
      business and as are usually carried by entities engaged in the same or similar
      business similarly situated.  In addition, the Company shall maintain in
      full force and effect policies of liability insurance in amounts at least equal
      to that currently in effect.

     

    d)                 
      Maintain
      Property and Assets. 
      Maintain its property and assets in good order and repair and, from time to
      time, make all needed and proper repairs, renewals, replacements, additions
      and
      improvements thereto, so that the business carried on may be properly and
      advantageously conducted at all times in accordance with prudent business
      management, and maintain annually adequate reserves for maintenance
      thereof.

     

    e)                 
      True
      Books. 
      Keep true books of record and account in which full, true and correct entries
      will be made of all of its dealings and transactions, and set aside on its
      books
      such reserves as may be required by GAAP, consistently applied, with respect
      to
      all taxes, assessments, charges, levies and claims referred to in (a) above,
      and
      with respect to its business in general, and include such reserves in interim
      as
      well as year-end financial statements.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    f)                   
      Right
      of Inspection. 
      Permit any person designated by the Holder, at the Holder’s expense, to visit
      and inspect any of the properties, books and financial reports of the Company,
      all at such reasonable times upon three (3) Business Days prior notice to
      Company, and as often as the Holder may reasonably request, provided the Holder
      does not unreasonably interfere with the daily operations of the
      Company.

     

    g)                 
      Observance
      of Laws. 
      Conform to and duly observe all laws, regulations and other valid requirements
      of any regulatory authority with respect to the conduct of its business except
      those that would not cause a material adverse effect, as determined in the
      reasonable discretion of the Holder.

     

    h)                 
      Company’s
      Knowledge of Default. 
      Upon an officer or director of the Company obtaining knowledge of, or threat
      of,
      an Event of Default hereunder, cause such officer to promptly, within no more
      than five (5) Business Days, deliver to the Holder notice thereof specifying
      the
      nature thereof, the period of existence thereof, and what action the Company
      has
      taken and/or proposes to take with respect thereto. 

     

    i)                   
      Notice
      of Proceedings. 
      Upon an officer or director of the Company obtaining knowledge of any material
      litigation, dispute or proceedings being instituted or threatened against the
      Company, or any attachment, levy, execution or other process being instituted
      against any assets of the Company, cause such officer to promptly, within no
      more than five (5) Business Days, give the Holder written notice of such
      litigation, dispute, proceeding, levy, execution or other process.

     

    j)                   
      Certificate
      of Covenant Compliance
      Within
      30 days of the last day of each March, June, September and December, the Company
      will issue a Certificate of Covenant Compliance, executed by either the Chief
      Executive Officer or Chief Financial Officer, in the form attached of
Exhibit
      A
      attached
      hereto.  If the Company is not in compliance with the affirmative covenants
      specified in this section, the Company will modify the Certificate of Covenant
      Compliance by stating the exception and providing a detailed explanation of
      the
      non-compliance.

     

    
      k)                    Payment
        of Holder’s Expenses. 
        If at any time or times hereafter, Holder employs counsel in connection with
        the
        execution and consummation of the transactions contemplated by this Note
        or to
        commence, defend or intervene, file a petition, complaint, answer, motion
        or
        other pleading, or to take any action in or with respect to any suit or
        proceeding (bankruptcy or otherwise) relating to this Note, or any other
        agreement, guaranty, note, instrument or document heretofore, now or at any
        time
        or times hereafter executed by the Company and delivered to Holder, or to
        enforce any rights of Holder hereunder whether before or after the occurrence
        of
        any Event of Default, or to collect any of the Liabilities, then in any of
        such
        events, all of the reasonable attorneys’ fees arising from such services, and
        any expenses, costs and charges relating thereto, shall be part of the
        Liabilities, payable on demand.

       

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    
       

      
        l)                    Financial
          Reporting. 
          The Company shall provide to Holder audited annual financial statements,
          audited
          by its independent certified public accounting firm.  Said financial
          statements shall be prepared in accordance with GAAP, consistently applied,
          and
          shall be delivered to Holder within ninety (90) days after the close of
          the
          Company’s fiscal year.  The Company’s fiscal year ends on _______, and
          shall not be changed without the prior written consent of the Holder.  The
          Company shall provide to Holder unaudited quarterly financial statements
          (including period to date and year to date actual to prior periods) presented
          in
          accordance with GAAP, consistently applied (subject to such exceptions
          for
          interim financials as may be noted by the Company thereon), and shall be
          delivered to Holder within forty-five (45) days after the close of each
          fiscal
          quarter of the Company.  

        
           

          
            m)                  Financial
              Covenants. 
              Commencing upon the date forty-five (45) days following the date of
              this
              Agreement and thereafter continuing until the Termination Date, the
              Company must
              maintain the following ratios:

             

          

        

      

    

                           
      (i)         Cash
      Interest Coverage.
      Until
      this Note is repaid in full, the Company shall maintain a Consolidated EBITDA
      ratio, based on any of the Company’s quarterly financial statements (as
      determined on the last day of each fiscal quarter for the immediately preceding
      quarter), of 2.0 or greater.  The Consolidated EBITDA ratio is defined as
      Consolidated EBITDA divided by Interest Expense (Consolidated EBITDA ÷ Interest
      Expense).

     

                           
      (ii)        Cash
      Flow Coverage Ratio. 
      The ratio of (a) the Company’s Cash Flow to (b) the sum of (i) the Company’s
      consolidated Interest Expense plus (ii) the Company’s scheduled payments of
      principal (including the principal component of capital leases) to be paid
      during the 12 months following any date of determination shall at all times
      exceed (1) 1.5 to 1.0.  Compliance with the ratio will be tested as of the
      last day of each month, with Cash Flow and Interest Expense being calculated
      for
      the twelve months then ended.

               
      

                           
      (iii)       Current
      Ratio. 
      The Company will at all times maintain a Current Ratio of not less than 1.5
      to
      1.0.  The Current Ratio shall be calculated and tested quarterly as of the
      last day of each fiscal quarter of the Company.

     

                           
      (iv)       Actual
      versus Budget. 
      The Company shall on a quarterly basis achieve 75 percent of its budgeted
      revenue and income.  Budget numbers shall be those delivered to Holder
      contemporaneously herewith and then on an annual calendar basis. 

    

    Negative
      Covenants.
      So long
      as any portion of this Note is outstanding, without the prior written consent
      of
      the Holder, which consent may be withheld in the sole discretion of the Holder,
      the Company shall not and shall not permit any of its subsidiaries to directly
      or indirectly:

    

    a)     Indebtedness.
      Enter
      into, create, incur, assume or suffer to exist any indebtedness or liens, on
      or
      with respect to any of its property or assets now owned or hereafter acquired
      or
      any interest therein or any income or profits therefrom that is senior to,
      or
      pari passu with, in any respect, the Company’s obligations under the Note;
      provided, however, that this provision shall not prevent the Company from
      entering into any transaction, the purpose of which is to repay this Note,
      provided all proper notices are given in accordance herewith;

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

    b)     Repayment
      of Indebtedness.
      Repay
      any principal due and owing on any promissory notes, debentures, or other forms
      of indebtedness, other than (i) periodic interest payments due and owing
      thereunder; or (ii) repayment of any principal amount or interest due or
      becoming due under this Note;

    

    c)     Repurchase
      of Shares.
      Repurchase or offer to repurchase or otherwise acquire any shares of its Common
      Stock or other equity securities; 

    

    d)     Bylaws.
      Amend
      its certificate of incorporation, bylaws or other charter documents so as to
      adversely affect any rights of the Holder in its capacity as a holder of this
      Note;

    

    e)     Loans
      and Investments.
      Lend or
      advance money, credit or property to any person or entity, or invest in (by
      capital contribution or otherwise), or purchase or repurchase the stock or
      indebtedness or assets or properties of any person or entity, or agree to do
      any
      of the foregoing, other than in the ordinary course of business; 

    

    f)     Guarantees.
      Assume,
      endorse or otherwise become or remain liable in connection with the obligations
      (including accounts payable) of any other person or entity, other than in the
      ordinary course of business;

    

    g)     Sale
      of
      Assets, Dissolution, Etc.
      Transfer, sell, assign, lease or otherwise dispose of any of its properties
      or
      assets, or any assets or properties necessary or desirable for the proper
      conduct of its business, or transfer, sell, assign or otherwise dispose of
      any
      of its accounts, or contract rights to any person or entity, or change the
      nature of its business, wind up, liquidate or dissolve, or agree to any of
      the
      foregoing, other than in the ordinary course of business;

    

    h)     Acquisition
      of Assets.
      Agree
      to purchase, acquire, or lease of any assets of any person, other than in the
      ordinary course of business;

    

    i)     Subsidiaries.
      Establish or form a partially or wholly owned subsidiary or sell, transfer
      or
      assign any interest in the Company’s existing subsidiaries;

    

    j)     No
      Further Issuance of Securities.
      Create,
      issue or permit the issuance of any additional securities of the Company or
      of
      any of its subsidiaries, if any, or any rights, options or warrants to acquire
      any such securities; 

    

    k)     No
      Dividends; No Redemption.
      Declare
      any dividend, pay or set aside for payment any dividend or other distribution,
      in cash, stock, or other property, or make any payment to any related parties,
      including to any preferred stockholders, as a dividend, redemption,
      or

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    

    l)     Agreement. Enter
      into any agreement obligating the Company to undertake any of the matters set
      forth in paragraphs (a) through (k) above.

    

    Except
      as
      expressly provided herein, no provision of this Note shall alter or impair
      the
      obligation of the Company, which is absolute and unconditional, to pay the
      principal of, interest and liquidated damages (if any) on, this Note at the
      time, place, and rate, and in the coin or currency, herein prescribed. This
      Note
      is a direct debt obligation of the Company. 

    

    If
      this
      Note shall be mutilated, lost, stolen or destroyed, the Company shall execute
      and deliver, in exchange and substitution for and upon cancellation of a
      mutilated Note, or in lieu of or in substitution for a lost, stolen or destroyed
      Note, a new Note for the principal amount of this Note so mutilated, lost,
      stolen or destroyed but only upon receipt of evidence of such loss, theft or
      destruction of such Note, and of the ownership hereof, and indemnity, if
      requested, all reasonably satisfactory to the Company.

    

    Any
      waiver by the Company or the Holder of a breach of any provision of this Note
      shall not operate as or be construed to be a waiver of any other breach of
      such
      provision or of any breach of any other provision of this Note. The failure
      of
      the Company or the Holder to insist upon strict adherence to any term of this
      Note on one or more occasions shall not be considered a waiver or deprive that
      party of the right thereafter to insist upon strict adherence to that term
      or
      any other term of this Note. Any waiver must be in writing.

     

    If
      any
      provision of this Note is invalid, illegal or unenforceable, the balance of
      this
      Note shall remain in effect, and if any provision is inapplicable to any person
      or circumstance, it shall nevertheless remain applicable to all other persons
      and circumstances. If it shall be found that any interest or other amount deemed
      interest due hereunder violates applicable laws governing usury, the applicable
      rate of interest due hereunder shall automatically be lowered to equal the
      maximum permitted rate of interest. The Company covenants (to the extent that
      it
      may lawfully do so) that it shall not at any time insist upon, plead, or in
      any
      manner whatsoever claim or take the benefit or advantage of, any stay, extension
      or usury law or other law which would prohibit or forgive the Company from
      paying all or any portion of the principal of or interest on this Note as
      contemplated herein, wherever enacted, now or at any time hereafter in force,
      or
      which may affect the covenants or the performance of this indenture, and the
      Company (to the extent it may lawfully do so) hereby expressly waives all
      benefits or advantage of any such law, and covenants that it will not, by resort
      to any such law, hinder, delay or impeded the execution of any power herein
      granted to the Holder, but will suffer and permit the execution of every such
      as
      though no such law has been enacted.

    

    Whenever
      any payment or other obligation hereunder shall be due on a day other than
      a
      business day, such payment shall be made on the next succeeding business
      day.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

    To
      the
      extent it may lawfully do so, the Company hereby agrees not to insist upon
      or
      plead or in any manner whatsoever claim, and will resist any and all efforts
      to
      be compelled to take the benefit or advantage of, usury laws wherever enacted,
      now or at any time hereafter in force, in connection with any claim, action
      or
      proceeding that may be brought by any Purchaser in order to enforce any right
      or
      remedy under this Note. Notwithstanding any provision to the contrary contained
      in this Note, it is expressly agreed and provided that the total liability
      of
      the Company under this Note for payments in the nature of interest shall not
      exceed the maximum rate permitted by law (the “Maximum
      Rate”),
      and,
      without limiting the foregoing, in no event shall any rate of interest or
      default interest, or both of them, when aggregated with any other sums in the
      nature of interest that the Company may be obligated to pay under this Note
      exceed such Maximum Rate. It is agreed that if the maximum contract rate of
      interest allowed by law and applicable to this Note is increased or decreased
      by
      statute or any official governmental action subsequent to the date hereof,
      the
      new maximum contract rate of interest allowed by law will be the Maximum Rate
      applicable to this Note from the effective date of such increase or decrease
      forward, unless such application is precluded by applicable law. If under any
      circumstances whatsoever, interest in excess of the Maximum Rate is paid by
      the
      Company with respect to the indebtedness evidenced by this Note, such excess
      shall be applied to the unpaid principal balance of any such indebtedness or
      be
      refunded to the Company, the manner of handling such excess to be at Holder’s
      election in the event any principal amount remains outstanding.

    

    All
      questions concerning the construction, validity, enforcement and interpretation
      of this Note shall be governed by and construed and enforced in accordance
      with
      the internal laws of the State of Texas, without regard to the principles of
      conflicts of law thereof. Each part agrees that all legal proceedings concerning
      the interpretations, enforcement and defense of this Note (whether brought
      against a party hereto or its respective affiliates, directors, officers,
      shareholders, employees or agents) shall be commenced in the state and federal
      courts sitting in the City of Dallas, Texas (the “Dallas
      Courts”).
      Each
      party hereto hereby irrevocably submits to the exclusive jurisdiction of the
      Dallas Courts for the adjudication of any dispute hereunder or in connection
      herewith or with any transaction contemplated hereby or discussed herein, and
      hereby irrevocably waives, and agrees not to assert in any suit, action or
      proceeding, any claim that it is not personally subject to the jurisdiction
      of
      any such court, or such Dallas Courts are improper or inconvenient venue for
      such proceeding. Each party hereby irrevocably waives personal service of
      process and consents to process being served in any such suit, action or
      proceeding by mailing a copy thereof via registered or certified mail or
      overnight delivery (with evidence of delivery) to such party at the address
      in
      effect for notices to it under this Note and agrees that such service shall
      constitute good and sufficient service of process and notice thereof. Nothing
      contained herein shall be deemed to limit in any way any right to serve process
      in any manner permitted by law. Each party hereto hereby irrevocably waives,
      to
      the fullest extent permitted by applicable law, any and all right to trial
      by
      jury in any legal proceeding arising out of or relating to this Note or the
      transactions contemplated hereby. If either party shall commence an action
      or
      proceeding to enforce any provisions of this Note, then the prevailing party
      in
      such action or proceeding shall be reimbursed by the other party for its
      attorneys fees and other costs and expenses incurred with the investigation,
      preparation and prosecution of such action or proceeding.

    

    IN
      WITNESS WHEREOF,
      Driveitaway, Inc. has caused this Note to be duly executed by a duly authorized
      officer as of the date first above indicated.

     

    
      	 	 	 
	 	
              DRIVEITAWAY,
                INC.

            
	 
 	 
 	 
 
	 	By:  	/s/ David
              Sola
	 	
              

              Name:
                David Sola

              Title:
                Chairman

            

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

     

    

    The
      undersigned, hereby represents that Driveitaway, Inc. is in compliance with
      all
      of its covenants
      specified in that
      certain Amended and Restated Promissory Note originally dated as of October
      20,
      2006, executed by such party with its principal place of business located at
      17
      East Vassar Road, Audubon, NJ 08610, in favor of Trident Growth Fund, L.P.,
      with
      its principal place of business at 700 Gemini, Houston, Texas
      77058.

     

     

    
      
        	 	 	 
	 	
                DRIVEITAWAY,
                  INC.

              
	 
 	 
 	 
 
	 	By:  	 
	 	
                

                Name:
                  David Sola

                Title:
                  Chairman

              

      

       

    

    9

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