Document:

Unassociated Document

    
      
        EXHIBIT
          10.6

      

       

      PHOENIX
        INDIA ACQUISITION CORP.

       

       

      January
        11, 2006

      Phoenix
        Capital Partners, LLC 

      645
        Madison Avenue

      12th
        Floor

      New
        York,
        NY 10022

       

      Gentlemen:

       

      This
        letter will confirm our agreement, that commencing on the effective date
        (“Effective Date”) of the registration statement of the initial public offering
        (“IPO”) of the securities of Phoenix India Acquisition Corp. (“Company”) and
        continuing until the consummation by the Company of a “Business Combination” (as
        described in the Company’s IPO prospectus), Phoenix Capital Partners, LLC
        (“Phoenix Capital”) shall make available to the Company certain administrative,
        technology and secretarial services, as well as the use of certain limited
        office space in New York City, as may be required by the Company from time
        to
        time, situated at 645 Madison Avenue, 12th Floor, New York, New York 10022
        (or
        any successor location). In exchange therefor, the Company shall pay to Phoenix
        Capital the sum of $5,000 per month (the “Fee”) on the Effective Date and
        continuing monthly thereafter. This agreement supecedes in its entirety our
        prior agreement, dated November 21, 2005, regarding such services.

       

      
        
          	 	 	 
	 	PHOENIX
                  INDIA ACQUISITION CORP.
	 
 	 
 	 
 
	 	By:  	/s/ Shekhar
                  Wadekar
	 	
                  
Name:
                  Shekhar Wadekar
Title:   Executive
                  Vice-President and Secretary
	 	 

        

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	 	 
	 	AGREED
                TO AND ACCEPTED BY:
	 	 
	 	Phoenix Capital Partners, LLC
	 
 	 
 	 
 
	Date: January
                11, 2006	By:  	/s/ Ramesh
                Akella
	 	
                

                Name:
                  Ramesh Akella
Title:
                  Manager

              
	 	 

      

       

      
        
          
          

        

        
          2Unassociated Document

    EXHIBIT
      10.8

    
      _______________
        __, 2006

      

      Rodman
&
Renshaw,
        LLC

      330
        Madison Avenue

      New
        York, New York 10017

      

      Re:
        Phoenix India
        Acquisition Corp.

      

      Gentlemen:

       

      This
        letter will confirm the agreement of the undersigned to purchase
        warrants ("Warrants") of Phoenix India Acquisition Corp. ("Company") included
        in
        the units ("Units") being sold in the Company's initial public offering ("IPO")
        upon the terms and conditions set forth herein. Each Unit is comprised of
        one
        share of common stock, par value $.0001 per share, of the Company (the "Common
        Stock") and one Warrant to purchase a share of Common Stock. The shares of
        Common Stock and Warrants will not be separately tradable until 20 days after
        the effective date of the Company's IPO unless Rodman & Renshaw, LLC
        ("Rodman") informs the Company of its decision to allow earlier separate
        trading. 

       

      The
        undersigned agrees that on the date hereof it will enter into an
        agreement or plan in accordance with the guidelines specified by Rule 10b5-1
        under the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
        with
        an independent broker-dealer (the "Broker") registered under Section 15 of
        the
        Exchange Act which is neither affiliated with the Company, Rodman nor part
        of
        the underwriting or selling group, pursuant to which the Broker will purchase
        up
        to an aggregate of $1,750,000 of Warrants in the public marketplace for the
        undersigned's account during the 45-trading day period commencing on the
        later
        of (i) the date separate trading of the Warrants has commenced or (ii) 60
        calendar days after the end of the restricted period under Regulation M under
        the Exchange Act, at market prices not to exceed $1.70 per Warrant, subject
        to a
        maximum Warrant purchase obligation equal to the number of Warrants set forth
        opposite their respective names below ("Maximum Warrant Purchase"). The
        undersigned shall instruct the Broker to fill such order in such amounts
        and at
        such times as the Broker may determine, in its sole discretion, during the
        45-trading day period described above. 

       

      As
        the date hereof, the undersigned represents and warrants that it
        is not aware of any material nonpublic information concerning the Company
        or any
        securities of the Company and is entering into this agreement in good faith
        and
        not as part of a plan or scheme to evade the prohibitions of Rule 10b5-1.
        The
        undersigned agrees that while this agreement is in effect, the undersigned
        shall
        comply with the prohibition set forth in Rule 10b5-1(c)(1)(i)(C) against
        entering into or altering a corresponding or hedging transaction or position
        with respect to the Company's securities. The undersigned further agrees
        that it
        shall not, directly or indirectly, communicate any material nonpublic
        information relating to the Company or the Company's securities to any employee
        of Rodman or the Broker. The undersigned does not have, and shall not attempt
        to
        exercise, any influence over how, when or whether to effect purchases of
        Warrants pursuant to this agreement or the plan or agreement with the Broker.
        

       

      Each
        of the undersigned may notify Rodman that all or part of the
        Maximum Warrant Purchase will be made by one or more affiliates of the
        undersigned (or another person or entity introduced to Rodman by the undersigned
        (a “Designee”)) and, in such event, Rodman will make such purchase on behalf of
        said affiliate or Designee; provided, however, that the undersigned hereby
        agree
        to make payment of the purchase price of such purchase and to fulfill their
        Maximum Warrant Purchase in the event and to the extent that their affiliate
        or
        Designee fails to make such payment or purchase. 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      The
        undersigned shall instruct the Broker to make, keep, and produce
        promptly upon request a daily time-sequenced schedule of all Warrant purchases
        made pursuant to this agreement, on a transaction-by-transaction basis,
        including (i) size, time of execution, price of purchase; and (ii) the exchange,
        quotation system, or other facility through which the Warrant purchase occurred.
        

       

      The
        undersigned agrees that the undersigned shall not sell or
        transfer the Warrants until the earlier of the consummation of a merger,
        capital
        stock exchange, asset acquisition or other similar business combination
        involving the Company and acknowledges that, at the option of Rodman, the
        certificates for such Warrants shall contain a legend indicating such
        restriction on transferability, it being understood that the Warrants purchased
        will be non-callable by the Company as long as they are held by the undersigned.
        

       

      This
        letter agreement shall for all purposes be deemed to be made
        under and shall be construed in accordance with the laws of the State of
        New
        York, without regard to the conflicts of laws principles thereof. This Agreement
        shall be binding upon the undersigned and the heirs, successors and assigns
        of
        the undersigned. 

      

      

      

      -
Signature
        page immediately follows -

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      
        
          	 	
                  Very
                    truly yours,

                	 	
                  Maximum

                  Warrant
                    Purchase

                
	 	 	 	
                   

                
	 	
                  Rohit
                    Phansalkar

                	
                       

                	 
	 	 	 	
                   

                
	 	
                  Ramesh
                    Akella

                	 	 
	 	 	 	
                   

                
	 	
                  Raju
                    Panjwani

                	 	 
	 	 	 	
                   

                
	 	
                  Shekhar
                    Wadekar

                	 	 

        

      
        
          
          

        

        
          3PROMISSORY
      NOTE 

    
      	
               

              $7,814.00

            	
               

              As
                of January 3, 2006

            

    

    

    Phoenix
      India Acquisition Corp. (the “Maker”) promises to pay to the order of [Insider
      listed on Schedule
      I
      hereto]
      (each a “Payee”) the principal sum of Seven Thousand Eight Hundred Fourteen
      Dollars ($7,814.00) in lawful money of the United States of America, together
      with interest on the unpaid principal balance of this Note, on the terms and
      conditions described below. 

    

    1. Principal.
      The
      principal balance of this Note shall be repayable on the earlier of (i) January
      3, 2007 or (ii) the date on which Maker consummates an initial public offering
      of its securities. 

    

    2. Interest.
      Interest
      shall accrue at the rate of 4% annually (non-compounded) on the unpaid principal
      balance of this Note. 

    

    3. Application
      of Payments.
      All
      payments shall be applied first to payment in full of any costs incurred in
      the
      collection of any sum due under this Note, including (without limitation)
      reasonable attorneys’ fees, then to the payment of any accrued interest and
      finally to the reduction of the unpaid principal balance of this Note.

    

    4. Events
      of Default.
      The
      following shall constitute Events of Default: 

    

    (a) Failure
      to Make Required Payments.
      Failure
      by Maker to pay the principal of or accrued interest on this Note within five
      (5) business days following the date when due. 

    

    (b) Voluntary
      Bankruptcy, etc.
      The
      commencement by Maker of a voluntary case under the Federal Bankruptcy Code,
      as
      now constituted or hereafter amended, or any other applicable federal or state
      bankruptcy, insolvency, reorganization, rehabilitation or other similar law,
      or
      the consent by it to the appointment of or taking possession by a receiver,
      liquidator, assignee, trustee, custodian, sequestrator (or other similar
      official) of Maker or for any substantial part of its property, or the making
      by
      it of any assignment for the benefit of creditors, or the failure of Maker
      generally to pay its debts as such debts become due, or the taking of corporate
      action by Maker in furtherance of any of the foregoing. 

    

    (c) Involuntary
      Bankruptcy, etc.
      The
      entry of a decree or order for relief by a court having jurisdiction in the
      premises in respect of maker in an involuntary case under the Federal Bankruptcy
      Code, as now or hereafter constituted, or any other applicable federal or state
      bankruptcy, insolvency or other similar law, or appointing a receiver,
      liquidator, assignee, custodian, trustee, sequestrator (or similar official)
      of
      Maker or for any substantial part of its property, or ordering the winding-up
      or
      liquidation of the affairs of Maker, and the continuance of any such decree
      or
      order unstayed and in effect for a period of 60 consecutive days. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    5. Remedies.

    

    (a) Upon
      the
      occurrence of an Event of Default specified in Section 4(a), Payee may, by
      written notice to Maker, declare this Note to be due and payable, whereupon
      the
      principal amount of this Note, and all other amounts payable thereunder, shall
      become immediately due and payable without presentment, demand, protest or
      other
      notice of any kind, all of which are hereby expressly waived, anything contained
      herein or in the documents evidencing the same to the contrary notwithstanding.
      

    

    (b) Upon
      the
      occurrence of an Event of Default specified in Sections 4(b) and 4(c), the
      unpaid principal balance of, and all other sums payable with regard to, this
      Note shall automatically and immediately become due and payable, in all cases
      without any action on the part of Payee. 

    

    6. Waivers.
      Maker
      and all endorsers and guarantors of, and sureties for, this Note waive
      presentment for payment, demand, notice of dishonor, protest, and notice of
      protest with regard to the Note, all errors, defects and imperfections in any
      proceedings instituted by Payee under the terms of this Note, and all benefits
      that might accrue to Maker by virtue of any present or future laws exempting
      any
      property, real or personal, or any part of the proceeds arising from any sale
      of
      any such property, from attachment, levy or sale under execution, or providing
      for any stay of execution, exemption from civil process, or extension of time
      for payment; and Maker agrees that any real estate that may be levied upon
      pursuant to a judgment obtained by virtue hereof, on any writ of execution
      issued hereon, may be sold upon any such writ in whole or in part in any order
      desired by Payee. 

    

    7. Unconditional
      Liability.
      Maker
      hereby waives all notices in connection with the delivery, acceptance,
      performance, default, or enforcement of the payment of this Note, and agrees
      that its liability shall be unconditional, without regard to the liability
      of
      any other party, and shall not be affected in any manner by any indulgence,
      extension of time, renewal, waiver or modification granted or consented to
      by
      Payee, and consents to any and all extensions of time, renewals, waivers, or
      modifications that may be granted by Payee with respect to the payment or other
      provisions of this Note, and agrees that additional makers, endorsers,
      guarantors, or sureties may become parties hereto without notice to them or
      affecting their liability hereunder. 

    

    8. Notices.
      Any
      notice called for hereunder shall be deemed properly given if (i) sent by
      certified mail, return receipt requested, (ii) personally delivered, (iii)
      dispatched by any form of private or governmental express mail or delivery
      service providing receipted delivery, (iv) sent by telefacsimile or (v) sent
      by
      e-mail, to the following addresses or to such other address as either party
      may
      designate by notice in accordance with this Section: 

    

    If
      to
      Maker: 

    

    Phoenix
      India Acquisition Corp. 

    645
      Madison Avenue, 12th
      Floor

    New
      York,
      NY 10022

    Attn.:
      Raju Panjwani, Chairman 

    

    If
      to
      Payee: 

    

    __________________

    c/o
      Phoenix Capital Partners LLC

    645
      Madison Avenue, 12th
      Floor

    New
      York,
      NY 10022

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    Notice
      shall be deemed given on the earlier of (i) actual receipt by the receiving
      party, (ii) the date shown on a telefacsimile transmission confirmation, (iii)
      the date on which an e-mail transmission was received by the receiving party’s
      on-line access provider (iv) the date reflected on a signed delivery receipt,
      or
      (vi) two (2) Business Days following tender of delivery or dispatch by express
      mail or delivery service. 

    

    9. Construction.
      This
      Note shall be construed and enforced in accordance with the domestic, internal
      law, but not the law of conflict of laws, of the State of New York.

    

    10. Severability.
      Any
      provision contained in this Note which is prohibited or unenforceable in any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such prohibition or unenforceability without invalidating the remaining
      provisions hereof, and any such prohibition or unenforceability in any
      jurisdiction shall not invalidate or render unenforceable such provision in
      any
      other jurisdiction. 

    

    IN
      WITNESS
      WHEREOF, Maker, intending to be legally bound hereby, has caused this Note
      to be
      duly executed by its -President and Chief Strategy Officer the day and year
      first above written. 

    
      	 	 	 
	 	PHOENIX
              INDIA
              ACQUISITION CORP.
	 
 	 
 	 
 
	 	By:  	/s/ Ramesh
              Akella
	 	
              
Name:
              Ramesh Akella
	 	Title:
              President and Chief Strategy
              Officer 

    

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    SCHEDULE
      I

    

    
      
        	Raju
                Panjwani 	 
	Ramesh
                Akella 	 
	Shekhar
                Wadekar 	 
	
                Rohit
                  Phansalkar 

              	 

      

    

     

     

    
      
        
        

      

      
        4

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