Document:

Exhibit 4.36

 

DEMAND DEBENTURE

 

JOINDER AGREEMENT

 

Gibson (U.S.) Acquisitionco
Corp.

1700, 440 — 2nd Avenue S.W.

Calgary, AB  T2P
5E9

 

April 26, 2010

 

BNY Trust Company of Canada

Suite 1101, 4 King Street West

Toronto, ON  M5H
1B6

 

Ladies and Gentlemen:

 

Reference is made to the Demand Debenture-Co-Issuer,
Parent and Subsidiary Guarantors (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Demand
Debenture”; capitalized terms used not otherwise defined herein
shall have the meanings assigned to such terms in the Demand Debenture), dated
as of May 27, 2009 made by Gibson Energy Holding ULC,
GEP Midstream Finance Corp., Canwest
Propane ULC, Moose Jaw Refinery ULC,
MP Energy ULC, GEP  ULC, Gibson GCC Inc., Moose Jaw
Refinery Partnership, Canwest Propane Partnership,
Gibson Energy Partnership, MP Energy Partnership, Chief Hauling Contractors ULC, Link Petroleum Services Ltd., Link Petroleum, Inc.,
Gibson Energy (U.S.) Inc., Battle River Terminal GP Inc., Battle River Terminal
LP, Bridge Creek Trucking Ltd., Johnstone Tank
Trucking Ltd. and Aarcam Propane &
Construction Heat Ltd.  (each an “Obligor” and together the “Obligors”)
in favour of BNY Trust
Company of Canada, as collateral agent (in such capacity and together with any
successors and permitted assigns in such capacity, the “Collateral
Agent”).

 

This Joinder Agreement
supplements the Demand Debenture and is delivered by the undersigned, Gibson
(U.S.) Acquisitionco Corp. (the “New Obligor”),
pursuant to Section 5.18 of the Demand Debenture.  The New Obligor hereby agrees to be bound as
an Obligor party to the Demand Debenture by all of the terms, covenants and
conditions set forth in the Demand Debenture to the same extent that it would
have been bound if it had been a signatory Obligor to the Demand Debenture on
the date of the Demand Debenture. 
Without limiting the generality of the foregoing, the New Obligor grants
to the Collateral Agent, for the benefit of the Secured Creditors, a security
interest in, and assigns, mortgages, charges, hypothecates and pledges to the
Collateral Agent, for the benefit of the Secured Creditors, substantially all
of the property of such New Obligor of the type and description set forth in Section 3.1
of the Demand Debenture whether now owned or hereafter acquired.  The New Obligor also expressly assumes all
obligations and liabilities of an Obligor thereunder.  The New Obligor hereby makes each of the
representations and warranties and agrees to each of the covenants applicable
to the Obligors contained in the Demand Debenture.

 

This Joinder Agreement and
any amendments, waivers, consents or supplements hereto may be executed in any
number of counterparts and by different parties hereto in separate
counterparts, 

 

 

each of which when so executed and delivered shall be
deemed to be an original, but all such counterparts together shall constitute
one and the same agreement.

 

This Joinder Agreement will
be governed by, interpreted and enforced in accordance with, the laws of the
Province of Alberta and the federal laws of Canada applicable therein.

 

IN WITNESS WHEREOF, the New Obligor has caused this Joinder Agreement to be executed and delivered by its duly
authorized officer as of the date first above written.

 

	
   

  	
   

  	
  GIBSON (U.S.) ACQUISITIONCO
  CORP.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Richard G. Taylor

  
	
   

  	
   

  	
   

  	
  Name: Richard G. Taylor

  
	
   

  	
   

  	
   

  	
  Title: Secretary
  and Treasurer 

  
	
   

  	
   

  	
   

  	
   

  
	
  Accepted and
  Agreed:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  BNY TRUST COMPANY OF CANADA, 

  AS COLLATERAL AGENT

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Farhan Mir

  	
   

  	
   

  	
   

  
	
   

  	
  Name: Farhan Mir

  	
   

  	
   

  	
   

  
	
   

  	
  Title: Authorized SignatorySWAV Enterprises Ltd.: Exhibit 10.1 - Filed by newsfilecorp.com

ASSET PURCHASE AGREEMENT 

          THIS
ASSET PURCHASE AGREEMENT (the "Agreement"), made and entered into this
26th day of April 2010 (the "Effective Date") by and between SWAV
Enterprises Ltd., a Nevada corporation (“SWAV” or the “Company”), and Lotus
Holding Limited (“Lotus” or the “Seller”). 

WITNESSETH: 

          WHEREAS,
the Company is a publicly held company quoted on the OTC Bulletin Board under
the ticker symbol “SWAV”;

          WHEREAS,
the Seller is a privately held company; and

          WHEREAS,
SWAV desires to purchase 100% of the title and ownership rights to the certain
assets of the Seller listed on Schedule A to this Agreement (the
“Assets”) in consideration for 2,265,230 shares of common stock , par value
$0.001 per share, of SWAV (the “Purchase Price”) pursuant to the terms and
conditions herein set forth.

          WHEREAS,
Lotus desires to sell 100% of the title and ownership rights to the Assets in
consideration for the Purchase Price pursuant to the terms and conditions herein
set forth; 

          NOW,
THEREFORE, in consideration of the premises and of the mutual
representations, warranties and agreements set forth herein, the parties hereto
agree as follows: 

ARTICLE I 

  THE TRANSACTION 

1.1   (a)      The
Transaction. Subject to the terms and conditions of this Agreement, on the
Closing Date (as hereinafter defined), the Company shall purchase from the
Seller the Seller’s Assets listed on Schedule A attached hereto
(the “Property”) and the Seller shall sell the Property to the Purchaser. At any
time, and from time to time, upon request of the Company after the Closing Date,
the Parties agrees to duly execute, acknowledge and deliver, without further
consideration, all such further documents, and take all such further actions
consistent with this Agreement and the transaction contemplated hereby (the
“Transaction”), as shall be necessary to effectuate the transfer of the Property
as provided herein free of all liens, security interests, pledges, restrictions,
encumbrances, equities, claims, charges, voting agreements, voting trusts,
proxies and rights of any kind, nature or description. 

          (b)     
“Property” means the entire right, title and interest in and to all proprietary
rights of every kind and nature with respect to the Assets, including without
limitation all rights and interests pertaining to or deriving from: 

          (i)      patents,
copyrights, technology, know-how, processes, trade secrets, inventions, works,
proprietary data, formulae, research and development data and computer software
programs;

          (ii)      all
trademarks;

          (iii)      all
registrations, applications, recordings, licenses, common-law rights and
Contractual Obligations relating thereto; 

          (iv)      all
actions and rights to sue at law or in equity for any past, present or future
infringement or other impairment thereto, including the right to receive all
proceeds and damages therefrom, and all rights to obtain renewals,
continuations, divisions or other extensions of legal protections pertaining
thereto; and 

          (v)      domain
names, rights of privacy and publicity, moral rights, and proprietary rights of
any kind or nature, however denominated, throughout the world in all media now
known or hereinafter created.

1.2       The Purchase
Price. In consideration of the Property, the Company shall pay to the Seller
2,265,230 shares of common stock, par value $0.001 per share (the “Purchase
Price”).

1.3       Time and Place of
Closing. The Transaction shall be consummated at the law offices of The
Sourlis Law Firm located at 214 Broad Street, Red Bank, New Jersey 07701 or such
other place as the Parties may agree to within two business days after the
satisfaction of all conditions set forth herein (the “Closing”) on or about
April 26, 2010 (the “Closing Date”).

ARTICLE II 

  CONDITIONS PRECENDENT 

2.1       Conditions Precedent
to the Consummation of the Transaction. The obligations of the Company
pursuant this Agreement shall be subject to the satisfaction or waiver by the
Company of the following conditions: (a) the execution of the Seller of this
Agreement and all agreements contemplated by this Agreement; (b) the obtaining
of board approval and any and all requisite regulatory, administrative,
governmental or third party authorizations and consents; (c) the absence of a
material adverse change in the condition (financial or otherwise) of the
Property; (d) the absence of pending or threatened material litigation, claims
or investigations or other matters affecting the Seller or the Property; (e)
satisfactory completion by the Company of its due diligence of the Seller; and
(f) confirmation that the representations and warranties of the Seller are true
and correct in all material respects.

ARTICLE III 

  REPRESENTATIONS AND WARRANTIES OF THE SELLER 

           
The Seller represents and warrants to Company that now and as of the Closing
Date: 

3.1       Due Organization and
Qualification; Due Authorization.

	 	(i) 	
      The Seller is a corporation duly incorporated, validly
      existing and in good standing under the laws of its formation, with full
      corporate power and authority to own, lease and operate the Property. The
      Seller is in good standing as a foreign corporation in each jurisdiction
      in which the properties owned, leased or operated, or the business
      conducted, by which it requires such qualification except for any such
      failure, which when taken together with all other failures, is not likely
      to have a material adverse effect on the business of the Seller.

	 	 	 
	 	(ii) 	
      The Seller is the sole owner of and has full rights with
      respects to the Property and has all requisite corporate power and
      authority to execute and deliver this Agreement, and to consummate the
      Transaction contemplated hereby. The Seller has taken all corporate action
      necessary for the execution and delivery of this Agreement and the
      consummation of the Transaction contemplated hereby, and this Agreement
      constitutes the valid and binding obligation of the Seller, enforceable
      against the Seller in accordance with its terms, except as may be affected
      by bankruptcy, insolvency, moratoria or other similar laws affecting the
      enforcement of creditors’ rights generally and subject to the
      qualification that the availability of equitable remedies is subject to
      the discretion of the court before which any proceeding therefore may be
      brought.

2

3.2       Financial
Statements. The Seller’s financial statements delivered to the Company
pursuant to this Agreement and the financial statements delivered to the Company
during the Company’s due diligence of the Seller are accurate and complete in
all material respects.

3.3       Material
Documents. Schedule 3.3 discloses all material contracts, commitments
and liabilities, direct, indirect or contingent, of the Seller regarding the
Property. 

3.4       Liabilities.
Except as disclosed on Schedule 3.4, there are no liabilities, whether
written or oral, with respect to the Property. There is no outstanding judgment,
order, writ, ruling, injunction, stipulation or decree of any court, arbitrator
or federal, state, local, foreign or other governmental authority, board,
agency, commission or instrumentality, against or materially affecting the
Property.

          
 The Seller has not received any written or verbal inquiry from any
federal, state, local, foreign or other governmental authority, board, agency,
commission or instrumentality concerning the possible violation of any
Applicable Law. 

3.5       Material Adverse
Change. Except as disclosed on Schedule 3.5, there have been are no
material adverse changes to the Seller or the Property.

3.6       Litigation.
Except as disclosed on Schedule 3.6 , there is no claim, dispute, action,
suit, proceeding or investigation pending or, to the knowledge of the Seller,
threatened, against the Seller, or challenging the validity or propriety of the
transactions contemplated by this Agreement, at law or in equity or admiralty or
before any federal, state, local, foreign or other governmental authority,
board, agency, commission or instrumentality, nor to the knowledge of the
Seller, has any such claim, dispute, action, suit, proceeding or investigation
been pending or threatened, during the twelve month period preceding the date
hereof; 

3.7       Compliance.
Except as disclosed on Schedule 3.7, the Seller is in compliance with all
material laws and regulations applicable to the Property. 

3.8       No Conflicts or
Defaults. The execution and delivery of this Agreement by the Seller and the
consummation of the Transaction contemplated hereby do not and shall not (a)
contravene the charter documents of the Seller, or (b) with or without the
giving of notice or the passage of time (i) violate, conflict with, or result in
a breach of, or a default or loss of rights under, any material covenant,
agreement, mortgage, indenture, lease, instrument, permit or license to which
the Seller is a party or by which the Seller is bound, or any judgment, order or
decree, or any law, rule or regulation to which the Seller is subject, (ii)
result in the creation of, or give any party the right to create, any lien,
charge, encumbrance or any other right or adverse interest (“Liens”) upon the
Property, (iii) terminate or give any party the right to terminate, amend,
abandon or refuse to perform, any material agreement, arrangement or commitment
to which the Seller is a party or by which the Seller’s assets are bound, or
(iv) accelerate or modify, or give any party the right to accelerate or modify,
the time within which, or the terms under which, the Seller is to perform any
duties or obligations or receive any rights or benefits under any material
agreement, arrangement or commitment to which it is a party. 

3.9       Taxes. The
Seller has filed all tax returns and reports which were required to be filed on
or prior to the date hereof in respect of all income, withholding, franchise,
payroll, excise, property, sales, use, value-added or other taxes or levies,
imposts, duties, license and registration fees, charges, assessments or
withholdings of any nature whatsoever (together, “Taxes”), and, to the best of
its knowledge, has paid all Taxes (and any related penalties, fines and
interest) which have become due pursuant to such returns or reports or pursuant
to any assessment which has become payable, or, to the extent its liability for
any Taxes (and any related penalties, fines and interest) has not been fully
discharged, the same have been properly reflected as a liability on the books
and records of the Seller and adequate reserves therefore have been
established.

3

3.10      Compliance with
Law. The Seller, to the best of its knowledge, is conducting its business in
material compliance with all applicable laws, ordinances, rules, regulations,
court or administrative order, decree or process (“Applicable Laws”). The Seller
has not received any notice of violation or claimed violation of any Applicable
Law. 

3.11      Survival of
Representations. The representations and warranties herein by the Seller are
true and correct in all material respects on and as of the Closing Date with the
same force and effect as though said representations and warranties had been
made on and as of the Closing Date and will survive any termination of this
Agreement. 

ARTICLE IV 

  REPRESENTATIONS AND WARRANTIES OF COMPANY

           
The Company represents and warrants to Seller that now and as of the Closing
Date: 

4.1       Due Organization and
Qualification; Due Authorization.

	 	(i) 	
      The Company is duly organized, validly existing and in
      good standing in the state of formation with full corporate power and
      authority to own, lease and operate its respective businesses and
      properties and to carry on such businesses in the places and in the manner
      as presently conducted or proposed to be conducted. The Company is good
      standing as a foreign corporation in each jurisdiction in which its
      properties are owned, leased or operated, or the business conducted
      requires such qualification except for any such failure, which when taken
      together with all other failures, is not likely to have a material adverse
      effect on the business of Company.

	 	 	 
	 	(iii) 	
      The Company has all requisite power and authority to
      execute and deliver this Agreement, and to consummate the Transaction
      contemplated hereby and thereby. The Company has taken all corporate
      action necessary for the execution and delivery of this Agreement and the
      consummation of the Transaction contemplated hereby, and this Agreement
      constitutes the valid and binding obligation of the Company, enforceable
      against the Company, in accordance with its terms, except as may be
      affected by bankruptcy, insolvency, moratoria or other similar laws
      affecting the enforcement of creditors’ rights generally and subject to
      the qualification that the availability of equitable remedies is subject
      to the discretion of the court before which any proceeding therefore may
      be brought.

ARTICLE V 

  COVENANTS 

5.1       Further
Assurances. Each of the Parties shall use reasonable commercial best efforts
to proceed promptly with the Transaction contemplated hereby, to fulfill the
conditions precedent for such Party’s benefit or to cause the same to be
fulfilled and to execute such further documents and other papers and perform
such further acts as may be reasonably required or desirable to carry out the
provisions of this Agreement and to consummate the transactions contemplated
herein. 

ARTICLE VI 

  DELIVERIES 

6.1       Items to be
delivered by the Seller to the Company prior to or at Closing.

	 	(i) 	
      A duly executed Asset Purchase
  Agreement;

4

	 	(ii) 	
      Resolutions from the Seller’s Board of Directors
      approving the execution and delivery of this Agreement by the Seller and
      to consummate the Transactions contemplated hereby;

	 	 	 
	 	(iii) 	
      Secretary’s Certificate;

	 	 	 
	 	(iv) 	
      Officer’s Certificate; and

	 	 	 
	 	(v) 	
      Such other documents that are reasonable and requested by
      the Company as it deems necessary for the consummation of the Transactions
      contemplated by this Agreement.

6.2       Items to be
delivered by the Company to the Seller at the Closing.

	 	(i) 	
      A duly executed Asset Purchase Agreement;

	 	 	 
	 	(ii) 	
      Secretary’s Certificate;

	 	 	 
	 	(iii) 	
      Officer’s Certificate;

	 	 	 
	 	(iv) 	
      Resolutions from the Board of Directors of Company
      approving the Transaction contemplated hereby and appointing Joerg Otto as
      a member of the Board of Directors of the Company;

	 	 	 
	 	(v) 	
      Resignations of Pui Shan Lam and Vanleo Y.W. Fung;
    and

	 	 	 
	 	(vi) 	
      Such other documents that are reasonable and requested by
      the Seller as it deems necessary for the consummation of this Transactions
      contemplated by this Agreement.

ARTICLE VII 

  INDEMNIFICATION 

7.1       Indemnity by the
Seller. The Seller agrees as to defend, indemnify and hold harmless the
Company from and against, and to reimburse the Company with respect to, all
liabilities, losses, costs and expenses, including, without limitation,
reasonable attorneys’ fees and disbursements (collectively the “Losses”)
asserted against or incurred by the Company by reason of, arising out of, or in
connection with any material breach of any representation or warranty contained
in this Agreement made by the Seller or in any document or certificate delivered
by the Seller pursuant to the provisions of this Agreement or in connection with
the Transactions contemplated thereby.

7.2       Indemnity by the
Company. The Company agrees to defend, indemnify and hold harmless the
Seller from and against, and to reimburse the Seller with respect to, all
Losses, including, without limitation, reasonable attorneys’ fees and
disbursements asserted against or incurred by the Seller by reason of, arising
out of, or in connection with any material breach of any representation or
warranty contained in this Agreement and made by Company or in any document or
certificate delivered by Company pursuant to the provisions of this Agreement or
in connection with the Transactions contemplated thereby. 

7.3       Indemnification
Procedure. A party (an “Indemnified Party”) seeking indemnification shall
give prompt notice to the other party (the “Indemnifying Party”) of any claim
for indemnification arising under this Article 7. The Indemnifying Party shall
have the right to assume and to control the defense of any such claim with
counsel reasonably acceptable to such Indemnified Party, at the Indemnifying
Party’s own cost and expense, including the cost and expense of reasonable
attorneys’ fees and disbursements in connection with such defense, in which
event the Indemnifying Party shall not be obligated to pay the fees and
disbursements of separate counsel for such in such action. In the event,
however, that such Indemnified Party’s legal counsel shall determine that
defenses may be available to such Indemnified Party that are different from or
in addition to those available to the Indemnifying Party, in that there could
reasonably be expected to be a conflict of interest if such Indemnifying Party
and the Indemnified Party have common counsel in any such proceeding, or if the
Indemnified Party has not assumed the defense of the action or proceedings, then
such Indemnifying Party may employ separate counsel to represent or defend such
Indemnified Party, and the Indemnifying Party shall pay the reasonable fees and
disbursements of counsel for such Indemnified Party. No settlement of any such
claim or payment in connection with any such settlement shall be made without
the prior consent of the Indemnifying Party which consent shall not be
unreasonably withheld.

5

ARTICLE VIII 

  TERMINATION 

8.1       Termination.
This Agreement may be terminated at any time before or at Closing Date by: 

	 	(i) 	
      The mutual agreement of the Parties;

	 	 	 	 
	 	(ii) 	
      Any party at any time before or at the Closing Date
      if:

	 	 	 	 
	 		(a) 	
      Any provision of this Agreement applicable to a party
      shall be materially untrue or fail to be accomplished; or

	 	 	 	 
	 		(b) 	
      Any legal proceeding shall have been instituted or shall
      be imminently threatening to delay, restrain or prevent the consummation
      of this Agreement;

	 	 	 	 
	 	(iii) 	
      The voluntary or involuntary filing of any of the Parties
      for protection under the bankruptcy laws and regulations.

	 	 	 	 
	 	(iv) 	
      Upon termination of this Agreement for any reason, in
      accordance with the terms and conditions set forth in this paragraph, each
      said party shall bear all costs and expenses as each party has
      incurred.

ARTICLE IX 

  MISCELLANEOUS 

9.1       Survival of
Representations, Warranties and Agreements. All representations and
warranties and statements made by a party to in this Agreement or in any
document or certificate delivered pursuant hereto shall survive the Closing Date
for two years. Each of the parties hereto is executing and carrying out the
provisions of this Agreement in reliance upon the representations, warranties
and covenants and agreements contained in this Agreement or at the Closing of
the Transactions herein provided for and not upon any investigation which it
might have made or any representations, warranty, agreement, promise or
information, written or oral, made by the other party or any other person other
than as specifically set forth herein. 

9.2       Access to Books and
Records. During the course of this transaction through the Closing Date, the
Seller agrees to make available for inspection all corporate books, records and
assets, and otherwise afford to the Company and its representatives and agents,
reasonable access to all documentation and other information concerning the
business, financial and legal conditions of the Seller for the purpose of
conducting a due diligence investigation thereof. Such due diligence
investigation shall be for the purpose of satisfying the Company as to the
business, financial and legal condition of the Seller for the purpose of
determining the desirability of consummating the proposed transaction. The
Company agrees to keep confidential and not use for its own benefit, except in
accordance with this Agreement, any information or documentation obtained in
connection with any such investigation. 

6

9.3       Further
Assurances. If, at any time after the Closing Date, the parties shall
consider or be advised that any further deeds, assignments or assurances in law
or that any other things are necessary, desirable or proper to complete the
Transactions contemplated by this Agreement or to vest, perfect or confirm, of
record or otherwise, the title to any property or rights of the parties hereto,
the Parties agree that their proper officers and directors shall execute and
deliver all such proper deeds, assignments and assurances in law and do all
things necessary, desirable or proper to vest, perfect or confirm title to such
property or rights and otherwise to carry out the purpose of this Agreement, and
that the proper officers and directors the parties are fully authorized to take
any and all such action. 

9.4       Notice. All
communications, notices, requests, consents or demands given or required under
this Agreement shall be in writing and shall be deemed to have been duly given
when delivered to, or received by prepaid registered or certified mail or
recognized overnight courier addressed to, or upon receipt of a facsimile sent
to, the party for whom intended, as follows, or to such other address or
facsimile number as may be furnished by such party by notice in the manner
provided herein: 

If to Company: 

SWAV Enterprises, Ltd. 
Suite 2806, 505 - 6th Street SW

Calgary, Alberta T2P 1X5 
Attention: Pui Shan Lam 

  Phone: (403) 237-8330

With copies to: 

The Sourlis Law Firm 
214 Broad Street 
Red Bank, New
Jersey 07701 
Attention: Virginia K. Sourlis, Esq. 
Phone No.: (732)
530-9007 
Fax No.: (732) 530-9008 

  Email: Virginia@SourlisLaw.com 

If to the Seller: 

Joerg Ott
Lotus Holdings Limited 
Managing
Member
Otto-Spesshardt-Str. 16
Eisenach 99817

  Germany 

9.5       Entire
Agreement. This Agreement and any instruments and agreements to be executed
pursuant to this Agreement, sets forth the entire understanding of the parties
hereto with respect to its subject matter, merges and supersedes all prior and
contemporaneous understandings with respect to its subject matter and may not be
waived or modified, in whole or in part, except by a writing signed by each of
the parties hereto. No waiver of any provision of this Agreement in any instance
shall be deemed to be a waiver of the same or any other provision in any other
instance. Failure of any party to enforce any provision of this Agreement shall
not be construed as a waiver of its rights under such provision. 

9.6       Successors and
Assigns. This Agreement shall be binding upon, enforceable against and inure
to the benefit of, the Parties hereto and their respective, successors and
assigns, and nothing herein is intended to confer any right, remedy or benefit upon any other
person. This Agreement may not be assigned by any party hereto except with the
prior written consent of the other parties, which consent shall not be
unreasonably withheld. 

7

9.7       Governing Law.
This Agreement shall in all respects be governed by and construed in accordance
with the laws of the State of Nevada applicable to agreements made and fully to
be performed in such state, without giving effect to conflicts of law
principles. 

9.8       Counterparts.
This Agreement may be executed in multiple counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument. 

9.9       Construction.
Headings contained in this Agreement are for convenience only and shall not be
used in the interpretation of this Agreement. References herein to Articles,
Sections and Exhibits are to the articles, sections and exhibits, respectively,
of this Agreement. As used herein, the singular includes the plural, and the
masculine, feminine and neuter gender each includes the others where the context
so indicates. 

9.10      Severability. If any
provision of this Agreement is held to be invalid or unenforceable by a court of
competent jurisdiction, this Agreement shall be interpreted and enforceable as
if such provision were severed or limited, but only to the extent necessary to
render such provision and this Agreement enforceable. 

9.11      Expenses. Each Party
shall separately pay for their respective costs of legal services, accounting,
auditing, communications and due diligence in connection with the transactions
contemplated hereby.

9.12      Announcements. Except
as and to the extent required by law or regulatory authority or so advised by
its legal advisors, neither of the Parties shall make a public announcement
regarding the transactions contemplated hereby without the prior written consent
of the other. In the event that either party is required by law or by federal
securities law or so advised by its legal advisors to either (i) file any
document that discloses the transactions contemplated hereby, or (ii) to make a
public announcement regarding the transactions contemplated hereby, the Party
making the disclosures, etc. shall provide the other Party with a copy of the
disclosure and the reason that such disclosure is required and the time and
place that the disclosure was made or shall be made. 

8

          IN
WITNESS WHEREOF, each of the parties hereto has executed this Agreement
first set forth above. 

THE COMPANY: 

SWAV ENTERPRISES LTD. 

By: /s/ Joerg Ott 

  Name:
Joerg Ott

Title: Chief Executive Officer 

 

THE SELLER: 

LOTUS HOLDINGS LIMITED 

By: /s/ Joerg Ott 
Name:
Joerg Ott
Title: Managing Member 

9

SCHEDULE A 

List of Lotus’ Assets Acquired by SWAV 

	Asset 
	Business 
	Percentage 
Transferred 
	Tool Box Assets 

	IPR’s 
- Software development tools 
-
      Social media software 
Customer base 	100% 

	“Bones” Assets 

	IPR’s 
- Software for HealthCare 
-
      Medical/HealthCare database 
Contracts 	100% 

	OUTPUT! Ltd 

	Adult Education/Training 
- Sales 
-
      Marketing 
Customer base 
Contracts 	100% 

The following is a description of the
Lotus assets purchased by SWAV:

Tool Box Assets

	 	1. 	
      Carousel

	 		
      Visual image rendering plug-in for Notes 8+. Modeled on
      iTunes.

	 	 	 
	 		
      Written in: Eclipse SWT

	 		
      Component assets: Java animation, dynamic image
      manipulation

	 	 	 Implementing customers: None
	 	 	 
	 	2. 	
      Alpheus

	 		
      Mail file analyzer/replication manager

	 	 	 
	 		
      Written in: Lotusscript

	 		
      Component assets: Cross-replica analyzer, Mail file
    contents analyzer 

	 	 	Implementing customers: PGA Tour, Bay Area
    Hospital
	 	 	 
	 	3. 	
      SquawkTM Lightweight Social Networking
    Solution

	 	 	 
	 		
      Domino micro-blogging system

Written in: Java/Xpages 
Component
assets: “Wingman” concept, dynamic charting, digest-based data model, branding,
forced UNIDs 
Implementing customers: None 
SquawkTM is the revolutionary
lightweight social networking solution. Like TwitterTM for the enterprise, it is
a simple, yet incredibly powerful collaboration solution. Based on Lotus Domino
Xpages technology, it is easy to deploy, highly scalable, and integrated with
the rest of the Lotus portfolio, including Domino, Quickr, Connections,
Sametime, and Websphere Portal.
Often referred to as micro-blogging, the
purpose of SquawkTM is to share knowledge and collaborate in a community with
similar interests in near real-time. SquawkTM has the brevity and immediacy of
instant messaging with the value of continuity and open collaboration.

SquawkTM can be installed in your environment in just seconds, or it is
available as a web service that can be integrated with and even embedded into
your existing applications. Since it is based on Lotus Domino, the application
can be replicated to multiple servers and synchronized or even clustered for
distributed processing and high availability supporting tens of thousands of
users. 

The business value of Squawk:

10

		•	
      Lets key individuals, such as C-level executives, easily
      post short, meaningful updates and maintain a connection to their
      employees. 

		•	
      Facilitates connections between employees who don’t know
      each other and the adoption of other business social networking
      technologies. 

	 	•	
      Individuals can post ideas and get both immediate and
      compound feedback. 

		•	
      Identify key subject matter experts to build powerful
      teams, committees, or communities of interest. 

	 	•	
      Attract and retain talent. The younger workforce expects
      these tools. 

		•	
      Use SquawkTM in conjunction with live presentations to
      gather instant feedback from participants and provide a transcript of the
      interactions. 

	 	•	
      Provides a mechanism for internal marketing or R&D
      and feedback. 

	 	•	
      Allows for employee self-service support. 

	 	•	
      Reduces communications costs.

	 		
      Key Features:

	 	 	 
	 		
      Squawking: Post a short statement about what you are
      doing, a question you have, a topic you want to discuss, or a response to
      any of the above.

	 		
      Profile Integration: Maintain and share information about
      yourself that is relevant to the community.

	 		 My Replies: Track responses to
    your squawks.
	 		
      My Flock: Filter squawks to the individuals that you want
      to follow.

	 		
      Polling: Post a question and allow other users to vote
      for or against it, then view real-time responses in a live chart, or track
      more detailed responses over time.

	 		
      Knowledge Discovery: Filter or search squawks for past or
      current topics and find subject matter experts based on key
  words.

	 		
      Portability: Most SquawkTM features can be embedded into
      other collaborative applications, such as blogs or discussions, or easily
      accessed from mobile devices.

	 		
      Hosted Service: SquawkTM can be installed inside your
      firewall or easily integrated into your organization as a hosted
      service.

	 		
      Bidding: Post an item and allow other users to respond
      with a specific format, such as a bid on an item, then report on progress
      and a final result, such as a progressive bid, the current leader, and an
      eventual winner.

	 		
      Squawk LiveTM: Integrates with Lotus Sametime to provide
      presence awareness, instant messaging, group chat, and instant meeting
      capabilities.

	 		
      Pricing:

	 		
      Up to 30 users: $999 + $10 for each additional user. OR      

	 		$5,000 per server cluster for unlimited users. OR
	 		
      As little as $1 per user per month hosted.

	 	 	 
	 	4. 	
      Blueprint

	 		
      Notes client application framework

	 	 	 
	 		
      Written in: Lotusscript

	 		
      Component assets: Dynamic interface construction, dynamic
      validation engine, abstract workflow engine, dynamic data modeling engine,
      DXL/CSS compatible design element structure, rules-based view constructor      

	 	5. 	
      Crowded WisdomTM Engage. Envision.
      Empower.TM

	 		
      Social decision engine/Social link tracker

	 	 	 
	 		
      Written in: Xpages

	 		
      Component assets: Stack ranking model, Dual-axis
      evaluation, Branding, Write-Behind Cache, Reputation scoring, Q&A
      rating engine, Link tracking 

Crowded WisdomTM is a social idea
management and business decision support solution. Featuring a sophisticated Web
2.0 interface, Crowded Wisdom allows employees, customers, vendors and partners
to share ideas that can then be quickly and easily evaluated on multiple
criteria by the defined community. Ideas can be contributed by anyone at any
time, and become immediately available for other users to add to their personal
Wishlist. 

11

	 		
      But the wisdom of crowds doesn't end there. Participants
      can organize their wishlists by ranking and rating ideas with simple drag
      & drop gestures. By sorting ideas in order of priority, users can
      express not simply that they like an idea, but where they rank it among
      other ideas they like. They can also rate ideas independent of their
      ranking, creating a deeper understanding of priorities and
    preferences.

	 	 	 
	 		
      Site administrators can group ideas together into
      Scorecards, which are then made available to crowd participants.
      Scorecards can be limited to a preset collection of ideas, or be
      open-ended. Once participants have submitted their scores, administrators
      can see rankings and ratings for all the ideas. Administrators can also
      assign weighting values to participants, which will differentiate their
      scoring, allowing key customers and users to have a stronger
  voice.

	 	 	 
	 		
      For example, imagine you are a major fast food chain and
      want to seek ideas from your customer base about what products or services
      to offer. You could start by having an open collection of ideas, letting
      people feed off of and rate each other's ideas, building a loyal community
      of interest. Then you can create a targeted Scorecard of the highest rated
      ideas that are actually feasible and publish that to the community to
      prioritize and rate ideas AGAINST each other, giving you valuable market
      intelligence about what changes you could make that would have the highest
      impact to your community. That is the power of Crowded
    WisdomTM.

	 	 	 
	 		
      Built on the latest Domino technology, Crowded WisdomTM
      can be deployed and managed on one server or across multiple clustered
      servers in just minutes, and can be easily integrated into other web
      applications for maximum exposure and business value.

	 	 	 
	 		
      Pricing:

	 		
      Up to 25 users: $999 + $12 for each additional user. OR
      
$10,000 per server cluster for unlimited users. OR 
$3 to $5 per
      user per month hosted.

	 	 	 
	 	6. 	
      TruePresenceTM Unified Communications &
      Collaboration

	 		
      UC2 for Foundations

	 	 	 
	 		
      Written in: Java

Component assets: Asterisk dial plan
assembler, SIP presence tracking, Sametime click-to-call plugin, Sametime
Bluetooth binding plugin 
Implementing customers: None 

TruePresenceTM PBX: No need to
implement a separate and expensive phone system. Just plug in the appliance or
install the software on your existing server hardware, configure it for your
network, and plug in the IP phones of your choice (and/or softphones), and you
have an advanced phone system with all the features you would expect and no
recurring annual fees. 
IBM Lotus Sametime Real-time Collaboration: The
TruePresenceTM appliance includes an integrated Sametime server with enterprise
instant messaging and public chat network interoperability, VoIP services,
mobile access, video chats, and web conferencing capabilities all with the
security features required for business use. The Sametime Chat client is an
extensible application platform that exposes all of these services and runs on
Windows, Macintosh, and even Linux desktops. But many of these features can also
be easily accessed from everyday applications such as Lotus Notes, Symphony,
Quickr, Websphere Portal, Microsoft Office, Sharepoint, Microsoft Outlook, web
browsers, and even mobile devices.
TruePresenceTM for Sametime adds the
powerful integration to truly unify your communications and collaboration
solutions. Features such as Phone Status Awareness (e.g., "on the phone"),
Instant Phone Conference Bridge from Sametime, Instant Web Meetings with
Integrated Telephony Services. 

Strong security with content and
identity control: The Lotus Sametime Instant Messaging server can be connected
to public instant messaging networks such as AOL, Yahoo!, and GoogleTalk,
allowing you to control your users' identities, log all activity, and encrypt
confidential communications rather than have a “free-for-all” of unsecured
public tools. 
IP Telephony Integration: TruePresenceTM for Sametime can be
used with the TruePresenceTM PBX or customized to work with your telephony system
of choice.
TruePresenceTM Ultimate Small Business Server: This all-in-one
solution based on Lotus FoundationsTM includes all of the TruePresenceTM features
on a secure Linux-based server with email, collaborative applications, instant
messaging, IP telephony PBX, directory, file & print services, firewall,
anti-virus, anti-spam, integrated backup, automatic updates, autonomic recovery,
and remote access.

12

The business value of UCC 

	 	•	Streamline business processes to
      improve productivity and reduce costs. 
	 	•	Empower employees to improve
      responsiveness to boost customer satisfaction and loyalty. 
	 	•	Fast access to subject matter
      experts without having to know who they are. 
	 	•	Lay a scalable, adaptable
      foundation for added functionality. 
	 	•	Gain control over the unmanaged
      use of public networks. 
	 	•	Provide multiple communications
      options in the context of their regular activities. 
	 	•	Lower telephony and travel costs.
    

	 		
      Pricing:

	 	 	 
	 		
      As low as $490 for first 10 users + $49 for each
      additional user. OR 

	 	 	$3 to $5 per user per month hosted.
	 	 	 
	 	7. 	
      Envoy

	 		
      DXL-based version tracking/control/assembler

	 	 	 
	 		
      Written in: Lotusscript

	 		
      Component assets: DXL assembler, version mapper, CSS
      style applier, Domino source searching Provides change tracking, rollback,
      dependency checking, compliance monitoring and automated test builds for
      Notes/Domino applications. Currently in beta as part of our Beyond the
      Cloud TM hosting service.

“Bones” Health Care 

‘Bones’ Health Care is a electronic health recording (EHR)
technology designed to be used at point-of-care, such as a hospital, clinic, or
physician’s office. Based around a sophisticated touch sensitive interface, it
allows the patient and physician to securely enter data (HIPPA / CCHIT
compliant), interact with patient history information, and various data bases
(such as prescription drug information) and in parallel, will automatically
codes and bills the encounter to the appropriate insurance provider. ‘Bones’
provides a multitude of advantages including increasing physician efficiency,
and where the product is a self contained technology, it reduces or eliminates
the need for IT support. 

OUTPUT! Ltd.

OUTPUT! Ltd (Professional Trainers for Sales) provides uniquely
customized sales, negotiation, CRM utilization, customer care and sales
management training to companies and individuals across the U.S. and the EU to
help sales organizations become more productive in their sales communication
with their customers. Through the quick & easy implementation of our unique
sales methodology and systems, we help our clients’ entire sales staff to
increase sales effectiveness which has proven to increase top line revenue while
lowering costs and increasing margins. OUTPUT! focuses on Telecommunications,
Telemarketing and Software Sales Organizations. OUTPUT! is currently working
with 65 customers in Europe and the US. 

13

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