Document:

<PAGE>

                                                                     EXHIBIT 4.1

THIS NOTE IS MADE IN CONNECTION WITH THAT CERTAIN ASSET PURCHASE AGREEMENT,
DATED AS OF SEPTEMBER 12, 2001, BY AND AMONG MAKER, PAYEE AND STREAMEDIA.COM,
LLC (THE "ASSET PURCHASE AGREEMENT"). PAYMENTS UNDER THIS NOTE ARE SUBJECT TO
ARTICLE 9 OF THE ASSET PURCHASE AGREEMENT.

THIS NOTE AND THE INDEBTEDNESS EVIDENCED BY THIS NOTE ARE SUBORDINATED, IN RIGHT
OF PAYMENT TO THE PRIOR PAYMENT IN FULL OF INDEBTEDNESS OF MAKER TO THE HOLDERS
OF SENIOR INDEBTEDNESS, WHICH TERM IS DEFINED BELOW.

                          SUBORDINATED PROMISSORY NOTE
                          ----------------------------

              $1,000,000 Aliso Viejo, California September 12, 2001

          FOR VALUE RECEIVED, the undersigned, MindArrow Systems, Inc., a
California corporation, ("Maker") having its principal place of business at 101
                          ----
Enterprise, Suite 340, Aliso Viejo, California, hereby promises to pay to
Radical Communication, Inc., a Delaware corporation, ("Payee"), having an
                                                       -----
address at 4086 Glencoe Avenue, Marina del Rey, California, the principal sum of
One Million Dollars ($1,000,000), with interest thereon at the rate established
in Section 2 below. Principal and interest will be due and payable in such coin
or currency of the United States of America as at the time shall be legal tender
for the payment of private and public debts and, except as set forth in Section
6 below, not subject to any defense, set-off, deduction, counterclaim,
rescission, recoupment or adjustment whatsoever.

     1.   Payments. Equal payments of principal in the amount of $500,000 plus
          --------
accrued interest shall be due and payable in two annual installments commencing
October 1, 2002.

     2.   Interest. Interest charges on the principal balance outstanding from
          --------
time to time shall accrue at the rate of five percent (5%) per annum. If payment
of the principal amount of this Note, together with accrued unpaid interest
thereon is not paid on any date at which the principal of, and accrued unpaid
interest on, this Note are declared to be or become due and payable as provided
herein, then interest shall accrue on such unpaid amount from and after such
date of default to the date of the payment in full of such unpaid amount
(including from and after the date of the entry of judgment in favor of Payee in
an action to collect this Note) at an annual rate equal to the lesser of 12% or
the maximum rate of interest permitted by applicable law.

     3.   Events of Default. If any of the following events (each an "Event of
          -----------------                                           --------
Default") shall occur:
-------

          3.1  The dissolution of Maker or any vote in favor thereof by the
board of directors and stockholders of Maker, as the case may be; or

<PAGE>

          3.2  Maker shall make an assignment for the benefit of creditors, or
file with a court of competent jurisdiction an application for appointment of a
receiver or similar official with respect to it or any substantial part of its
assets or there shall be filed by Maker a petition seeking relief under any
provision of the Federal Bankruptcy Code or any other federal or state statute
now or hereafter in effect affording relief to debtors, or there shall be filed
against Maker any such application or petition, which application or petition is
not dismissed or withdrawn within sixty (60) days from the date of filing
thereof; or

          3.3  Maker shall fail to pay the principal of, or interest on, or any
other amount payable under, this Note, as and when the same shall become due and
payable, whether by scheduled payment, mandatory prepayment, acceleration or
otherwise;

then, upon the occurrence of any such Event of Default, the principal of,
accrued unpaid interest on, and all other amounts payable under this Note shall
become immediately due and payable.

     4.   Prepayment. Maker may prepay, in whole or part, the principal amount
          ----------
of this Note without penalty or premium; provided, however, any prepayment of
this Note shall be applied first to the payment of accrued unpaid interest and
then to the reduction of the unpaid principal.

     5.   Due on Sale. The entire principal sum and accrued interest will at
          -----------
once become due and payable, without notice, at the option of Payee, upon the
occurrence of any of the following events: (i) the closing of a consolidation or
merger of Maker with or into any other corporation or other entity or person, or
any other corporate reorganization, in which the stockholders of Maker
immediately prior to such consolidation, merger or reorganization, own less than
50% of Maker's voting power immediately after such consolidation, merger or
reorganization, or any transaction or series of related transactions to which
Maker is a party in which in excess of fifty percent (50%) of Maker's voting
power is transferred to stockholders other than those persons or entities that
were stockholders of Maker immediately prior to such transaction or
transactions, excluding any consolidation or merger effected exclusively to
change the domicile of Maker, or (ii) the closing of a sale, transfer, lease or
other disposition of all or substantially all of the assets of Maker.

     6.   Offset. Reference is made to the Asset Purchase Agreement. Any
          ------
indemnification to be paid by Sellers (as such term is defined in the Asset
Purchase Agreement) to Maker pursuant to ARTICLE 9 of the Asset Purchase
Agreement shall be satisfied and paid solely from this Note. Payee and the
Liquidating Trust (as such term is defined in the Asset Purchase Agreement), as
the case may be, shall not distribute or transfer this Note prior to payment
thereon by Maker and Maker shall have the right to withhold from any payment
required thereunder an amount equal to the claim or claims asserted in
accordance with the provisions of ARTICLE 9 of the Asset Purchase Agreement. If
and when it is finally determined that any such claims are entitled to
indemnification pursuant to ARTICLE 9 of the Asset Purchase Agreement, the
amount of such claims may be offset against the retained payments and the
remainder, if any, shall

<PAGE>

be delivered to Payee, or the Liquidating Trust, as the case may be, with
interest on such remainder payable at the rate of 5% per annum.

     7.   Subordination. This Note is subordinated to all present and future
          -------------
indebtedness of Maker for borrowed money, excluding indebtedness incurred by
Maker to its trade creditors and suppliers in connection with purchases of
equipment and supplies, (the "Senior Indebtedness"). Upon Maker's request, Payee
(or any permitted transferees of this Note) shall execute one or more
subordination agreements in a form and substance reasonably acceptable to Payee
(or any permitted transferees of this Note) and the holder or holders of Senior
Indebtedness providing that the debt hereunder is subordinated in right of
payment to such debt, and requiring Payee (or any permitted transferees of this
Note) to standstill in the exercise of its remedies prior to the exercise of
remedies of the holders of Senior Indebtedness, such standstill to be on terms
reasonably acceptable to Payee (or any permitted transferees of this Note) and
the holders of such Senior Indebtedness.

     8.   Replacement of Note. In case this Note is mutilated, destroyed, lost
          -------------------
or stolen, Maker shall, at its sole expense, execute, register and deliver a new
Note, in exchange and substitution for this Note, if mutilated, or in lieu of
and substitution for this Note, if destroyed, lost or stolen. In the case of
destruction, loss or theft, Payee shall furnish to Maker indemnity reasonably
satisfactory to Maker, and in any such case, and in the case of mutilation,
Payee shall also furnish to Maker evidence to its reasonable satisfaction of the
mutilation, destruction, loss or theft of this Note and of the ownership
thereof. Any replacement Note so issued shall be dated the date of this Note,
shall be in the then current outstanding principal amount of this Note and
interest thereon shall accrue from the date to which interest shall already have
been paid on this Note or, if no interest shall have yet been paid, from the
date of this Note.

     9.   Notice. All notices under this Note shall be in writing and shall be
          ------
delivered by personal service or by certified or registered mail, postage
prepaid, return receipt requested, to Maker at its principal place of business
and to Payee at the address of Payee as set forth in the introductory paragraph
above.

     10.  Governing Law. This Note has been executed in and shall be governed by
          -------------
the laws of the State of California without giving effect to the choice of law
rules thereof. Notwithstanding the terms of the Asset Purchase Agreement, as
part of the consideration for this Note, Maker and Payee hereby agree that all
actions or proceedings arising directly or indirectly hereunder, whether
instituted by Payee or Maker, shall be litigated in courts having situs within
the State of California, County of Orange and Maker and Payee hereby expressly
consent to the exclusive jurisdiction of any local, state or federal court
located within said state and county, and consent that any service of process in
such action or proceeding may be made by personal service upon Maker and Payee
wherever Maker and Payee respectively may be located, or by certified or
registered mail directed to Payee at its last known address. Maker and Payee
waive trial by jury, any objection based on forum non conveniens, and any
objection to venue of any action instituted hereunder in such County.

<PAGE>

     11.  Attorneys Fees. If any legal action, arbitration or other proceeding
          --------------
is brought to enforce or interpret this Note, the substantially prevailing party
will be entitled to recover from the other party reasonable attorneys' fees and
other costs incurred in such action, arbitration or proceeding, in addition to
any other relief to which the prevailing party is entitled.

     12.  Modification. This Note may not be modified or discharged (other than
          ------------
by payment or conversion) except by a writing duly executed by Maker and Payee.

     13.  Miscellaneous. This Note and each of the terms hereof shall be binding
          -------------
upon Maker's successors and assigns and shall inure to the benefit of Payee and
its permitted successors and assigns. No failure on the part of the Payee
hereunder to exercise, and no delay in exercising, any right, power or remedy
hereunder shall operate as a waiver hereof; nor shall any single or partial
exercise or any right or power or remedy hereunder preclude any other or further
exercise of any right, power or remedy. The headings of the various paragraphs
of this Note are for convenience of reference only and shall in no way modify
any of the terms or provisions of this Note. If any provision of this Note is
held by a court of competent jurisdiction to be invalid or unenforceable, the
remainder of the Note that can be given effect without the invalid provision
shall continue in full force and effect and shall in no way be impaired or
invalidated.

          This Note may not be transferred by Payee without the prior written
consent of Maker other than, subject to the limitations set forth in the Asset
Purchase Agreement, to a liquidating trustee, paying agent or similar entity
delegated to hold and distribute the assets of Payee pursuant to a Plan of
Liquidation adopted by the Payee.

                  [Remainder of Page Intentionally Left Blank]

<PAGE>

     IN WITNESS WHEREOF, Maker has executed this Note as of the 12/th/ day of
September, 2001.

                                     MINDARROW SYSTEMS, INC.
                                     a Delaware corporation

                                     By:   _______________________________
                                     Name: Robert I. Webber
                                     Its:  Chief Executive Officer<PAGE>

                                                                    EXHIBIT 10.9

                                            Standard. Chartered
                                            -------------------

Date : 4 January 2001                       Standard Chartered Bank
                                            Corporate & Institutional Banking
Our Ref:  C&IB/CDT/CFS/LG/AH                Credit Operations
                                            CPF Tampines Building #03-00
                                            1 Tampines Central 5
PRIVATE AND CONFIDENTIAL                    Singapore 529508
------------------------

Trio-Tech International Pte Ltd             Postal Address:
1008 Toa Payoh North                        Robinson Road P. O. Box 1901
#03-09/18   Singapore 903801                Singapore 903801
Toa Payoh Industrial Estate
Singapore 318996

                                            Telephone +65 225 8888
                                            Facsimile +65 260 2513
                                            Telegrams STANCHART
                                            Telex RS 24290
Attn:- Mr Mok Chia Kwang
----
       Financial Controller

Dear Sirs

BANKING ARRANGEMENTS
--------------------

Standard Chartered Bank (the "Bank") is pleased to confirm its willingness to
continue to make available to Trio-Tech International Pte Ltd (the "Customer")
the banking facilities (the "Facilities") outlined below on the following terms
and conditions, subject to the Bank's Standard Terms and Conditions, as set out
in Form 338-1198 attached hereto, and to the satisfactory completion of
documentation:

BANKING FACILITIES
------------------

AMOUNT              DESCRIPTION AND PRICING
------              -----------------------

1      SGD500,000   Overdraft in current account, repayable upon demand, to
                    assist with working capital requirements.

                    Interest at prime plus 1.25% p.a. payable monthly in arrears
                    to the debit of the Customer's current account.

1a)   (USD200,000)  Overdraft in United States Dollar (USD) current account,
                    repayable upon demand, to assist with working capital
                    requirements.

                    Interest at USD prime plus 1% p.a. payable monthly in
                    arrears to the debit of the Customer's USD current account.

2)   SGD2,000,000   For opening irrevocable letters of credit, drafts at sight
                    and/or at usance for period up to 120 days, covering the
                    import of electronic test equipment and accessories into
                    Singapore and/or Malaysia.

2a) (SGD1,000,000)  Loans against trust receipts and/or acceptance against trust
                    receipts for period up to 120 days, covering the release of
                    goods imported under and complementary to limit 2).

                    Interest at SBFR plus 1.25% p.a. during the term of each
                    trust receipt.

2b) (SGD1,000,000)  Shipping guarantees may be issued to secure the release of
                    goods imported under letters of credit or collection bills
                    routed through the Bank.

Initials: M.C.K                                                   Initials: V.T
<PAGE>

                                                           Standard. Chartered
                                                           -------------------

2c)  (SGD1,000,000)  For opening irrevocable letters of credit, drafts at sight
                     and/or at usance for period up to 120 days, covering the
                     import of electronic test equipment and accessories in
                     favour of Singapore or Malaysian suppliers.

                     Note:
                     -----
                     Combined outstandings under limits 2a) to 2c) must not
                     exceed SGD1,000,000 at any one time.

2d)  (SGD500,000)    Loans against imports by way of promissory notes covering
                     collection DA and DP bills for period up to 120 days,
                     including original usance period. Financing of approved
                     suppliers' invoices are also permitted but at the sole
                     discretion of the Bank and pricing is at 0.25% flat for
                     commission.

                     Interest at SBFR plus 1.25% p.a. during the term of each
                     bill.

                     Condition
                     ---------
                     Proceeds of invoice financing are to be paid direct to
                     suppliers and not credited to the Customer's account.

3)    SGD2,000,000   For issuing standby letters of credit for a period of 365
                     days in favour of suppliers in consideration of credits
                     terms granted to the Customer.

3a)  (SGD2,000,000)  For issuing customs and other non-shipping guarantees for
                     period not exceeding twelve months.

                     Counter indemnities to be held.

3b)  (SGD2,000,000)  For issuing advance payment guarantees / performance bonds
                     retention bonds for period not exceeding twelve months.

                     Counter indemnities to be held.

3c)  (SGD1,000,000)  For issuing tender bonds for period not exceeding six
                     months.

                     Counter indemnities to be held.

4)    SGD1,292,000   A 4-year term loan to assist the Customer in financing
                     the construction of a high tension power sub-station.

                     Interest at prime plus 1.5% p.a.

                     Tenor
                     -----
                     4 years from date of first drawdown.

                     Drawdown
                     --------
                     Drawdown in tranches against contractors invoices &
                     architect's certification. 3 days notice is to be given to
                     the Bank before drawdown.

                     Repayment
                     ---------
                     Repayable in 47 monthly instalments of SGD26,916 each
                     (excluding interest) and a final instalment of SGD26,948
                     (excluding interest).

Initials: M.C.K                                                    Initials: V.T
<PAGE>

                                                             Standard. Chartered
                                                             -------------------
                  Prepayment
                  ----------

                  Partial repayments will be applied in inverse order of
                  maturity and may not be redrawn. The Customer is to give at
                  least 30 days written notice before such repayment is
                  effected.

                  Commitment / Cancellation Fee
                  -----------------------------

                  A fee of 1% flat on the amount prepaid if full prepayment is
                  made within one year from the date of first drawndown.

                  Condition: For limits 1). 1a) and 4)
                  ------------------------------------

                  In the event that the Bank's prime rate is lower than its 1-
                  month cost of funds rate, the Bank reserves the right to
                  convert the prime rate to its 1-month cost of funds rate.

                  Note:-
                  ------

                  I)   Combined outstandings under limits 1) and 1a) must
                       not exceed SGD500,000 at any one time.

                  ii)  The Bank may at any time at its sole discretion suspend
                       the availability of prime-based funds by reason or
                       circumstances affecting the money market including but
                       not limited to volatile rate fluctuations or tight
                       liquidity.

SECURITY
--------

   Security for the above Facilities and for facilities which may be extended by
   the Bank to the Customer from time to time :-

   1)  Registered charge over fixed deposits of SGD1,650,000 and USD300,000 in
       the name of the

       Customer and supported by an appropriate board resolution.

   2)  Existing corporate guarantee for SGD2,500,000 executed by Trio-Tech
       International USA and supported by an appropriate board resolution.

   3)  Fresh registered fixed charge over high tension power sub-station located
       at Mukim No. 17 Lots No. A4551 J and No. A4551 K.

       Fire insurance policy covering the above asset for the full reinstatement
       value with the Bank's interest indicated as mortgagee thereon including
       mortgagee, non-cancellation and reinstatement value clauses and premium
       paid receipt are to be lodged with the Bank.

CONDITIONS
----------

   1)  Loans to parent company Trio-Tech International USA (directly and
       indirectly) and
        associated companies must not exceed SGD3,500,000 at all times.

   2)  The Customer is to maintain a minimum networth of SGD6,000,000 at all
       times.

       Networth is defined as the aggregate of paid-up capital and revenue
       reserves, excluding revaluation reserves and deducting any loans made to
       the directors in their personal capacities or to the parent company,
       Trio-Tech International USA directly and indirectly or other related
       companies and other intangible assets.

   3)  Gearing ratio of Trio-Tech International Pte Ltd (Singapore) is not to
       exceed 1. Gearing ratio is defined as total external debts: networth.

   4)  Any dividends to be declared are subject to prior written consent from
       the Bank which will not be unreasonably withheld.

Initials: M.C.K                                                Initials: V.T
<PAGE>

                                                   Standard. Chartered
                                                   -------------------

5)   The Customer is to submit to the Bank its quarterly management accounts and
     its operating subsidiaries including Trio-Tech International (M) Sdn Bhd,
     Trio-Tech (KL) Sdn Bhd and Trio Tech International (Thailand) Co. Ltd.

6)   The Customer is to submit to the Bank its quarterly lists of stocks and
     ageing debtors (trade and non-trade, including related company debts) and
     stocks are subject to periodic inspection by the Bank's officers.

INTEREST
--------

The Bank's Singapore Dollar and United States Dollar prime lending rates are
currently 6.25% p.a. and 9.5% p.a. respectively and are subject to fluctuation
without prior notice but the rates and any changes thereto are notified in the
press and are featured in the Bank's statements of account and on notices
displayed at the Bank's branches.

The Bank's Standard Bills Finance Rate (SBFR) for all Trade Finance related
loans is also subject to fluctuation without prior notice and will be determined
by the Bank according to market forces but the prevailing rate and any changes
thereto are featured in the Bank's Trade Finance statements and are available on
request from our Trade Customer Services Centre. The SBFR for Singapore Dollar
denominated Trade loans is currently 6.25% p.a. and for Foreign Currency Trade
loans is the respective currency's local inter-bank offer rate or Cost of Funds
(i.e. SIBOR) for three months or such other period as the Bank in its discretion
may consider appropriate.

INSURANCE
---------

The Customer agrees that fire insurance for the asset described under paragraph
herein (individually and collectively referred to as "Security") shall be
obtained through the Bank's approved insurance company, Commercial Union
Assurance Company Plc, a member company of the CGU Insurance Group (CGU) for
such amount(s) and on such terms as the Bank may require to cover the rights and
interests of the Bank for as long as banking facilities are being extended to
the Customer by the Bank. The fire insurance policy shall cover against risks of
fire and extraneous perils and such other risk(s) as the Bank may in its
absolute discretion require and determine fit. In the event where Customer is
not the owner of the said asset, the Customer agrees to procure the consent of
the owner of the said asset to take up the said fire insurance through CGU.

The Customer agrees that the Bank shall be entitled to deduct all costs, fees,
expenses and payments (including but not limited to premium payments) to CGU
from the Customer's account to ensure that the fire insurance policy is in place
and/or duly renewed on such terms as the Bank may require. The Customer consents
to the Bank disclosing to CGU any information whatsoever about the Customer and
the Security for any purpose in connection with the said fire insurance policy.

FEES
----

Upon acceptance of the Facilities detailed in this letter, a facility fee of
SGD500 becomes payable and will be debited to the Customers account accordingly.

DISCLOSURE
----------

The Customer hereby consent to Standard Chartered Bank, Singapore, its officers
and agents disclosing information relating to the Customer and the Customers,
account or dealing relationship with the Bank, including but not limited to
details of the Customer's Facilities, any security taken, transactions
undertaken and balances and positions with the Bank, to (i) the head office of
the Bank, any of its representative and branch offices in any jurisdiction,
related corporations and its agents and independent contractors who are under a
duty of confidentiality to the Bank; (ii) any potential assignee of the Bank or
other participant in any of its rights and/or obligations in relation to the
Customer's Facilities and (iii) any guarantors, third party pledgors or security
providers.

MAS NOTICE 757
--------------

In accordance with MAS Notice 757, Facilities denominated in Singapore Dollars
granted to nonresidents are only to be used to finance operations and economic
activities in Singapore specifically allowed under the said MAS Notice 757.
Singapore Dollar denominated facilities granted to nonresidents are not to be
used for:-

Initials: M.C.K                                                   Initials: V.T
<PAGE>

                                                        Standard. Chartered
                                                        -------------------

(a)  speculating in the Singapore Dollar currency and interest rate markets;

(b)  financing third-country trade between countries not involving Singapore;

(c)  financing the acquisition of shares of companies not listed on the
     Singapore Exchange; and

(d)  financing any activities outside Singapore; except when approved by the
     Monetary Authority of Singapore.

ACCEPTANCE
----------

This offer will remain open for acceptance for a period of thirty days from the
date of this letter, after which time it will lapse unless an extension has been
agreed by the Bank in writing.

To confirm your acceptance of this offer, please return the attached duplicate
copy of this letter duly signed in acceptance together with a certified true
extract of the board resolution as per specimen attached to:

                         Standard Chartered Bank
                         Corporate & Institutional Banking Credit Operations
                         1 Tampines Central 5
                         #03-00 CPF Tampines Building
                         Singapore 529508

                         Attention:    Ms Anna Hee

This Facility letter supersedes all previous Facility letters.

DOCUMENTATION
-------------

Please advise the name of the solicitors who will be acting for the Customer in
the completion of the legal documentation.

All expenses costs and fees relating to the completion of the charge are to be
borne by the Customer and will be debited from the Customer's account
accordingly.

We also enclosed a set of documents which should be duly completed and returned
to the Bank at the abovementioned address.

AVAILABILITY
------------

In accordance with normal banking practice, the Facilities are made available
solely at the discretion of the Bank and are subject to repayment on demand by
the Bank.

Without prejudice to this obligation of the Customer, the Facilities shall be
subject to review by the Bank from time to time.

We are pleased to make this offer of banking arrangements and look forward to
receiving your formal acceptance in due course.

Yours faithfully
For and on behalf of
Standard Chartered Bank

By: /s/ Laurance Goh
------------------------
Laurence Goh
Senior Manager
Corporate Financial Services

Initials: M.C.K                                         Initials: V.T
<PAGE>

                                                      Standard.Chartered
                                                      ------------------

We confirm the Customer's acceptance of the Facilities on the terms and
conditions outlined in this letter dated 4 January 2001

By: /s/ Yong Siew Wai
----------------------------------------------------
For and on behalf of Trio-Tech International Pte Ltd

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