Document:

Exhibit
      4.2

     

    THIS
      NOTE
      HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE OFFERED
      FOR SALE, SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR OTHERWISE DISPOSED OF IN
      THE
      ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE NOTES UNDER THE
      SECURITIES ACT OR AN OPINION OF COUNSEL, IN FORM, SUBSTANCE AND SCOPE
      SATISFACTORY TO THE ISSUER OF THIS NOTE, THAT REGISTRATION IS NOT REQUIRED
      UNDER
      SAID ACT.

     

    INTERACTIVE
      SYSTEMS WORLDWIDE INC.

    14%
      Non-Negotiable Promissory Notes

    Due
      July
      31, 2008

     

    
      	
              $_____________
                

            	
              January
                22, 2008

            
	 	 

    

     

    FOR
      VALUE
      RECEIVED, the undersigned, Interactive Systems Worldwide Inc., a Delaware
      corporation (the “Company”), promises to pay to _______________ (the
“Purchaser”) on July 31, 2008, the principal sum of ________________________
      ($________), together with accrued interest from the date hereof on the unpaid
      principal balance of this Note, at a rate per annum equal to 14%; provided
      that
      during the continuance of an Event of Default (as hereinafter defined) interest
      shall accrue on this Note at a rate per annum equal to the highest rate
      permitted by applicable law (but no more than 28% per annum).

     

    All
      payments of principal and interest shall be made by wire transfer to an account
      designated by the Purchaser to the Company in writing.

     

    The
      Company may prepay this Note, in whole or in part, at any time and from time
      to
      time, without penalty or premium, provided that (i) each such prepayment is
      accompanied by accrued interest on the amount of principal prepaid calculated
      to
      the date of such prepayment, and (ii) all Notes issued pursuant to the NPA
      (as
      hereinafter defined) are proportionately prepaid.

     

    The
      Company shall pay, on demand, all expenses, including reasonable costs of
      collection and reasonable attorneys’ fees and costs, incurred or sustained by
      the Purchaser in connection with the enforcement or protection of its rights
      under this Note.

     

    This
      Note
      is one of the Company’s Notes, which have been and are to be issued pursuant to
      the Note Purchase Agreement dated as of January 14, 2008 (the “NPA”) between the
      Company, the Purchaser and the other purchasers party thereto and is subject
      to
      the terms and conditions of, and shall be construed in accordance with the
      provisions of, the Agreement. All capitalized terms not defined herein shall
      have the meanings given to them in the Agreement.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    If
      any of
      the following events (each an “Event of Default”) shall occur and be
      continuing:

     

    (a) the
      Company shall fail to pay when due any principal amount of or interest on the
      Notes; or

     

    (b) the
      Company shall fail to perform or observe any obligation or covenant or term
      contained in Sections 3.1, 3.2 or 3.3 of the Agreement; or 

     

    (c) (i)
      an
      involuntary case under any applicable bankruptcy, insolvency or other similar
      law now or hereafter in effect shall be commenced against the Company or its
      subsidiary, Global Interactive Gaming Limited (“GIG”), or a court shall enter a
      decree or order appointing a receiver, liquidator, assignee, custodian, trustee,
      sequestrator (or other similar official) of the Company or GIG, or for any
      substantial part of any of its properties, or ordering the winding-up or
      liquidation of any of its affairs, and such case shall not be dismissed in
      60
      days, or such decree or order shall remain unstayed and in effect for a period
      of 30 consecutive days; or (ii) the Company or GIG shall commence a voluntary
      case under any applicable bankruptcy, insolvency or other similar law now or
      hereafter in effect, shall consent to the entry of an order for relief in an
      involuntary case under any such law, or shall consent to the appointment of
      or
      taking possession by a receiver, liquidator, assignee, trustee, custodian,
      sequestrator (or other similar official) of the Company or GIG, or for all
      or
      any substantial part of its properties, or shall make any general assignment
      for
      the benefit of creditors, or shall fail generally to pay its debts as they
      become due, or shall take any action in furtherance of any of the
      foregoing;

     

    then
      the
      holders of not less than a majority in aggregate principal amount of the Notes
      then outstanding may by notice to the Company declare the entire outstanding
      principal of all the Notes, and all accrued and unpaid interest thereon, to
      be
      immediately due and payable, whereupon the same shall become forthwith due
      and
      payable without presentment, demand, protest or further notice of any kind,
      all
      of which are hereby expressly waived by the Company, provided
      that if
      an event described in the preceding subparagraph (c) shall occur, the
      result which would otherwise occur only upon giving of notice by Noteholders
      to
      the Company as specified in this sentence shall occur automatically, without
      the
      giving of any such notice. Additionally, the Noteholders may exercise any or
      all
      of their rights and remedies available to them under applicable
      law.

     

    The
      Company waives diligence, presentment, demand, notice of dishonor, protest
      and
      any other demands and notices in connection with the delivery, acceptance,
      performance and enforcement of this Note. The non-exercise by the Purchaser
      of
      any of its rights hereunder in any particular instance shall not constitute
      a
      waiver thereof in that or any subsequent instance.

     

    This
      Note
      shall be governed by, and interpreted and construed in accordance with, the
      laws
      of the State of New York (without regard to the choice of law provisions
      thereof).

     

    This
      Note
      shall not be assigned, transferred or pledged by the Purchaser without the
      express prior written consent of the Company.

     

    [signature
      page follows]

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    IN
      WITNESS WHEREOF,
      the
      Company has duly executed this Note the day and year first above
      written.

     

    
      
        	 	
                INTERACTIVE
                  SYSTEMS WORLDWIDE INC.

              
	 	 
	
                 

              	
                By

              	
                                           
                            

              
	
                 

              	
                 

              	
                Name

              	
                Bernard
                  Albanese

              
	
                 

              	
                 

              	
                Title:

              	
                Chairman
                  of the Board,

              
	
                 

              	
                 

              	
                 

              	
                President
                  and Chief Executive OfficerUnassociated Document

     

    ASSET
      PURCHASE AGREEMENT

     

     

    THIS
      AGREEMENT (the “Agreement”) is made as of this 15th
      day of
      February, 2008.

     

    BETWEEN:

     

    SILVER
      RESERVE CORP.,
      a
      company incorporated under the laws of the State of Delaware 

     

    (hereinafter
      referred to as the “Purchaser”)

     

    AND:

     

    ROGER
      HALL

     

    (hereinafter
      to as the “Vendor”)

    

     

    WHEREAS
      the Purchaser wishes to purchase certain mineral claims (the “Claims”) in the
      County of NYE, State of Nevada, from the Vendor;

     

    WHEREAS
      the Vendor is prepared to sell Claims to the Purchaser, as described in Schedule
      ‘A’ attached hereto;

     

    NOW
      THEREFORE, in consideration of the mutual covenants and agreements herein
      contained and subject to the terms and conditions hereafter set out, the parties
      hereto agree as follows:

     

    1.  PURCHASE
      AND SALE

     

    1.01  The
      Vendor hereby sells and transfers to the Purchaser, and the Purchaser hereby
      buys and accepts from the Vendor, all of the Vendor’s right, title and interest
      in and to the Claims in consideration of the sum of $5,000.00 Dollars payable
      in
      cash and 175,000 common shares in the capital of the Purchaser (the “Shares”),
      to be
      paid and delivered to the Vendors on closing. 

     

    2.     CLOSING
      DATE 

     

    2.01  In
      this
      Agreement, “Closing
      Date”
      means
      February 20, 2008, or such other date as may be agreed to by the parties
      hereto.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    3.  TRANSFER
      OF TITLE

     

    3.01  On
      the
      Closing Date, the Vendor shall deliver to the Purchaser a recordable Bills
      of
      Sale or other applicable conveyancing documentation sufficient to affect the
      transfer of a 100% interest in and to the Claims to the Purchaser. Vendor agrees
      to execute such further documentation as may be necessary or desirable to
      evidence such transfer of title and/or to record such transfer in appropriate
      registries, at the request of Purchaser.

     

    4.  RIGHT
      OF ENTRY

     

    4.01  The
      Purchaser, its servants, agents and workmen and any persons duly authorized
      by
      the Purchaser following execution of this Agreement, shall have the exclusive
      right to enter upon and take possession of and prospect, explore and develop
      the
      Claims in such manner as the Purchaser in its sole discretion may deem
      advisable.

     

    5.  REPRESENTATIONS
      AND WARRANTIES OF THE VENDORS

     

    5.01  The
      Vendor hereby represents and warrants to the Purchaser that:

     

    
      	 	
              (a)

            	
              he
                has the power and authority to enter into this
                Agreement;

            

    

     

    
      	 	
              (b)

            	
              immediately
                prior to the closing of this Agreement he is the beneficial owner
                of 100%
                interest in and to the Claims and the Claims are not subject to any
                liens
                or encumbrances of any kind
                whatsoever;

            

    

     

    
      	 	
              (c)

            	
              the
                Claims have been validly located and are now duly recorded and in
                good
                standing substantially in accordance with the laws in effect in the
                jurisdiction in which they are
                situated;

            

    

     

    
      	 	
              (d)

            	
              the
                entering into this Agreement does not conflict with any applicable
                law nor
                does it conflict with, or result in a breach of or accelerate the
                performance required by, any contract or other commitment to which
                he is a
                party or by which he is bound;

            

    

     

    
      	 	
              (e)

            	
              he
                has the exclusive right to enter into this Agreement and all necessary
                authority to assign to the Purchaser all of his right, title and
                interest
                in and to the Claims in accordance with the terms and conditions
                of this
                Agreement;

            

    

     

    
      	 	
              (f)

            	
              the
                Claims are free and clear of all liens and encumbrances and are in
                good
                standing with the United States Department of the Interior - Bureau
                of
                Land Management until August 31,
                2008;

            

    

     

    
      	 	
              (g)

            	
              there
                are no outstanding or, to the best of the Vendor’s information, knowledge
                and belief, proposed, threatened or contemplated actions or suits
                which,
                if successful, would or could affect the market value or ownership
                of the
                Claims or any portion thereof;

            

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (h)

            	
              conditions
                on and relating to the Claims are in compliance with all applicable
                laws,
                regulations and orders relating to environmental matters, including,
                but
                not limited to, waste disposal and storage and Vendor is not aware
                of any
                conditions with respect to the Claims that could give rise to
                environmental claims that would impair the Purchaser’s development of the
                Claims;

            

    

     

    
      	 	
              (i)

            	
              there
                are no reclamation liabilities to be carried out in the future,
                outstanding work orders or actions required to be taken relating
                to the
                Claims or the condition of the Claims, or any operations that have
                been
                carried out thereon; 

            

    

     

    
      	 	
              (j)

            	
              on
                the Closing Date the Vendor will deliver to the Purchaser copies
                of all
                reports, maps and other documents and or materials relating to the
                Claims
                in the Vendor’s possession;

            

    

     

    
      	 	
              (k)

            	
              the
                Vendor has had an opportunity to obtain and has obtained a general
                and
                complete understanding satisfactory to it of the Purchaser, its affiliates
                and their services, potential assets, finances, and manner of doing
                business sufficient to permit it to evaluate (i) the Purchaser and
                its
                prospects and (ii) the risks and merits of accepting the Shares as
                partial
                payment for the Claims;

            

    

     

    
      	 	
              (l)

            	
              the
                Vendor acknowledges that the Share certificate shall be legended
                with a
                legend substantially in the following
                form:

            

    

     

    THE
      SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED OR APPLICABLE STATE SECURITIES LAWS. THESE
      SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE
      ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITY UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED, AND QUALIFICATION UNDER ANY APPLICABLE
      STATE
      SECURITIES LAWS OR (B) AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
      COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR APPLICABLE STATE
      SECURITIES LAWS. ANY PURPORTED TRANSFER OR OTHER DISPOSITION OF THE SECURITIES
      REPRESENTED BY THIS CERTIFICATE IN ANY MANNER WHICH IS IN VIOLATION OF THE
      FOREGOING LIMITATIONS IS INVALID AND THE COMPANY WILL NOT TRANSFER SUCH
      INVALIDLY TRANSFERRED SECURITY ON THE BOOKS OF THE COMPANY.

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    5.02  The
      representations and warranties hereinbefore set out are conditions upon which
      the Purchaser has relied in entering into this Agreement and shall survive
      the
      Closing Date by a period of 24 months, except that the representation and
      warranty of Vendor pursuant to Sections 5.01 (b), (c), (d), (e) and (f) shall
      survive indefinitely. The Vendor hereby indemnifies and saves the Purchaser
      harmless from all loss, damage, costs, actions and suits arising out of or
      in
      connection with any breach of any representation or warranty made by it and
      contained in this Agreement.

     

    6.     REPRESENTATIONS
      AND WARRANTIES OF THE PURCHASER

     

    6.01  The
      Purchaser represents and warrants to the Vendor that:

     

    
      	 	
              (a)

            	
              it
                has full corporate power and authority to enter into this Agreement
                and
                the entering into of this Agreement does not conflict with any applicable
                laws or with its charter documents nor does it conflict with, or
                result in
                a breach of, or accelerate the performance required by any contract
                or
                other commitment to which it is party or by which it is
                bound;

            

    

     

    
      	 	
              (b)

            	
              the
                shares to be delivered to the Vendor upon the Closing Date will be
                duly
                and validly authorized and issued and
                non-assessable.

            

    

     

    6.02     The
      representations and warranties hereinbefore set out are conditions upon which
      the Vendor have relied on entering into this Agreement and shall survive the
      Closing Date. The Purchaser hereby indemnifies and saves the Vendor harmless
      from all loss, damage, costs, actions and suits arising out of or in connection
      with any breach of any representation or warranty made by it and contained
      in
      this Agreement.

     

    7.  INDEPENDENT
      ACTIVITIES

     

    7.01  No
      joint
      venture is created by this Agreement. Except as expressly provided herein,
      each
      party shall have the free and unrestricted right to independently engage in
      and
      receive the full benefit of any and all business endeavours of any sort
      whatsoever, whether or not competitive with the endeavours contemplated herein
      without consulting the other or inviting or allowing the other to participate
      therein. No party shall be under any fiduciary or other duty to the other which
      will prevent it from engaging in or enjoying the benefits of competing
      endeavours within the general scope of the endeavours contemplated herein.
      The
      legal doctrines of "corporate opportunity" sometimes applied to persons engaged
      in a joint venture or having fiduciary status shall not apply in the case of
      any
      party. In particular, without limiting the foregoing, no party shall have an
      obligation to any other party as to:

     

    
      	 	
              (a)

            	
              any
                opportunity to acquire, explore and develop any mining property,
                interest
                or right presently owned by it or offered to it outside of the Claims
                at
                any time; and

            

    

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	 	
              (b)

            	
              the
                erection of any mining plant, mill, smelter or refinery, whether
                or not
                such mining plant, mill, smelter or refinery treats ores or concentrates
                from the Claims.

            

    

     

    8.  CONFIDENTIALITY
      OF INFORMATION

     

    8.01  The
      parties hereto shall, subject to the exceptions set out hereinafter, treat
      all
      data, reports, records and other information relating to this agreement and
      the
      Claims as confidential. While this Agreement is in effect and prior to closing,
      no party hereto shall, without the express written consent of the other,
      disclose to any third party any information concerning the results of the
      operations hereunder nor issue any press releases concerning this Agreement
      or
      its exploration operations except where such disclosure is mandatory under
      the
      law or is deemed necessary by the disclosing party's counsel for the
      satisfaction by the disclosing party of its obligations under applicable
      securities law, and the disclosing party has, prior to the public disclosure,
      given the non-disclosing parties a draft copy of the disclosure.

     

    9.  ARBITRATION

    

    9.01  Any
      controversy between the parties hereto involving any claim arising out of or
      relating to this Agreement, will be submitted to and be settled by final and
      binding arbitration in Las Vegas, Nevada, in accordance with the then current
      Commercial Arbitration Rules of the American Arbitration Association (the
“AAA”), and judgment upon the award rendered by the arbitrators may be entered
      in any court having jurisdiction thereof. Such arbitration shall be conducted
      by
      three (3) arbitrators chosen by the Vendor and the Purchaser, or failing such
      agreement, an arbitrator experienced in the sale of similar mineral assets
      appointed by the AAA. There shall be limited discovery prior to the arbitration
      hearing as follows: (a) exchange of witness lists and copies of documentary
      evidence and documents relating to or arising out of the issues to be
      arbitrated, (b) depositions of all party witnesses, and (c) such other
      depositions as may be allowed by the arbitrators upon a showing of good cause.
      Depositions shall be conducted in accordance with the Nevada Code of Civil
      Procedure, the arbitrator(s) shall be required to provide in writing to the
      parties the basis for the award or order of such arbitrator(s), and a court
      reporter shall record all hearings, with such record constituting the official
      transcript of such proceedings.

     

    10.  NOTICES

     

    10.01  Any
      notice, election, consent or other writing required or permitted to be given
      hereunder shall be deemed to be sufficiently given if delivered or if mailed
      by
      registered air mail or by fax, addressed as follows:

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    In
      the
      case of the Vendor:

    

    Roger
      Hall

    HC
      73,
      Box 36

    Franklin,
      West Virginia

    26807

     

    In
      the
      case of the Purchaser:

    

    Silver
      Reserve Corp.

    1226
      White Oaks Blvd., Suite 10A

    Oakville,
      Ontario

    Canada
      L6H 2B9

    Fax
      #905-845-1839

    Attention:
      Stafford Kelley

     

     

    and
      any
      such notice given as aforesaid shall be deemed to have been given to the parties
      hereto if delivered, when delivered, or if mailed, on the tenth business day
      following the date of mailing, or, if faxed, on the next succeeding day
      following the faxing thereof PROVIDED HOWEVER that during the period of any
      postal interruption in either the country of mailing or the country of delivery,
      any notice given hereunder by mail shall be deemed to have been given only
      as of
      the date of actual delivery of the same. Any party may from time to time by
      notice in writing change its address for the purpose of this
      paragraph.

     

    11.  GENERAL
      TERMS AND CONDITIONS

     

    11.01  The
      parties hereto hereby covenant and agree that they will execute such further
      agreements, conveyances and assurances as may be requisite, or which counsel
      for
      the parties may deem necessary to effectually carry out the intent of this
      Agreement.

     

    11.02  This
      Agreement shall represent the entire understanding between the parties with
      respect to the Claims. No representations or inducements have been made save
      as
      herein set forth. No changes, alterations, or modifications of this Agreement
      shall be binding upon any party until and unless an amendment to this Agreement
      or a memorandum in writing to such effect shall have been signed by all parties
      hereto.

     

    11.03  The
      titles to the articles to this Agreement shall not be deemed to form part of
      this Agreement but shall be regarded as having been used for convenience of
      reference only.

     

    11.04  The
      Schedule to this Agreement shall be construed with and as an integral part
      of
      this Agreement to the same extent as if they were set forth verbatim
      herein.

     

    11.05  This
      Agreement shall be governed by and interpreted in accordance with the laws
      in
      effect in the State of Delaware.

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    11.06  This
      Agreement shall enure to the benefit of and be binding upon the parties hereto
      and their respective successors and assigns.

     

    11.07     This
      Agreement may be executed in multiple counterparts, each of which shall be
      deemed an original, and all of which together shall constitute one and the
      same
      instrument. Execution and delivery of this Agreement by exchange of facsimile
      copies bearing facsimile signature of a party shall constitute a valid and
      binding execution and delivery of this Agreement by such party. Such facsimile
      copies shall constitute enforceable original documents.

     

    11.08  Time
      shall be of the essence of this Agreement.

    

     

    IN
      WITNESS WHEREOF this Agreement has been executed by the parties hereto as of
      the
      day and year first above written.

    

    

    

    SILVER
      RESERVE CORP.

    

    

    By:
      /s/ Stafford
      Kelley                                               

    

    Its:

    

    

    /s/
      Roger
      Hall                                                              

    ROGER
      HALL

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      A

     

    
      
        

      

    

     

    THE
      “CLAIMS”

    

    

    
      	
              Claim
                Name

            	
              Claim
                Number

            
	
               

              Gold
                Point

              GP
                1-14

            	
               

              NMC0975797
                -

              NMC0975810

            

    

    

    
      
        
        

      

      
        10

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