Document:

Unassociated Document

    AMENDED
      AND RESTATED GUARANTY

     

    February
      13,
      2006

     

    WHEREAS
      Brent W. Swanick has given a guarantee dated September 30, 2004 in favour of
      Laurus Master Fund, Ltd. a Cayman Islands Company (“Laurus”)
      (the
“2004
      Swanick Guarantee”);

     

    WHEREAS
      Cancable Inc., an Ontario corporation (“Cancable
      Canada”)
      Cancable Holding Corp., a Delaware corporation (“Cancable
      Holding”)
      and
      Laurus have entered into a Securities Purchase Agreement dated December 31,
      2005
      (as amended, modified or supplemented from time to time, the “2005
      Securities Purchase Agreement”)
      providing for the execution of the Related Agreements (as defined therein)(the
      “2005
      Related Agreements”);

     

    WHEREAS
      Iview Digital Video Solutions Inc., a federal Canadian corporation,
      (“Iview”),
      Creative Vistas, Inc. (the “Parent”)
      and
      Iview Holding Corp., a Delaware corporation (“Iview
      Holding”)
      have
      entered into a Securities Purchase Agreement dated February 13, 2006 (as
      amended, modified or supplemented from time to time, the “2006
      Securities Purchase Agreement”)
      providing for the execution of the Related Agreements (as defined therein)(
      the
“2006
      Related Agreements”);

     

    WHEREAS
      it is a condition of the 2006 Securities Purchase Agreement that the 2004
      Swanick Guaranty is amended and restated to among other things include the
      obligations pursuant to the 2005 Related Agreements and the 2006 Related
      Agreements;

     

    NOW
      THEREFORE FOR VALUE RECEIVED, and in consideration of note purchases from,
      loans
      made or to be made or credit otherwise extended or to be extended by Laurus
      to
      or for the account of Cancable Canada, Iview and the Parent ( collectively
      the
“Debtors”),
      from
      time to time and at any time and for other good and valuable consideration
      and
      to induce Laurus, in its discretion, to purchase such notes, make such loans
      or
      extensions of credit and to make or grant such renewals, extensions, releases
      of
      collateral or relinquishments of legal rights as Laurus may deem advisable,
      the
      undersigned (the “Guarantor”
or
      “the
      undersigned”)
      irrevocably and unconditionally guarantees to Laurus, its successors, endorsees
      and assigns the prompt payment when due (whether by acceleration or otherwise)
      of all present and future obligations and liabilities of any and all kinds
      of
      the Debtors to Laurus and of all instruments of any nature evidencing or
      relating to any such obligations and liabilities upon which any of the Debtors
      is or may become liable to Laurus, whether incurred by the Debtors as makers,
      endorsers, drawers, acceptors, guarantors, accommodation parties or otherwise,
      and whether due or to become due, secured or unsecured, absolute or contingent,
      joint or several, and however or whenever acquired by Laurus, whether arising
      under, out of, or in connection with (i) the 2005 Securities Purchase
      Agreement, (ii) each 2005 Related Agreement, (the 2005 Securities Purchase
      Agreement and the 2005 Related Agreements, as each may be amended, modified,
      restated or supplemented from time to time, are collectively referred to herein
      as the “2005
      Documents”),
      (iii)
      the 2006 Securities Purchase Agreement, (iv) each 2006 Related Agreement (the
      2006 Securities Purchase Agreement and the Related Agreements, as each may
      be
      amended, modified, restated or supplemented from time to time are collectively
      referred to herein as the “2006
      Documents”)
      or any
      documents, instruments or agreements relating to or executed in connection
      with
      the 2005 Documents, 2006 Documents or any documents, instruments or agreements
      referred to therein or otherwise, or any other indebtedness, obligations or
      liabilities of any of the Debtors to Laurus, whether now existing or hereafter
      arising, direct or indirect, liquidated or unliquidated, absolute or contingent,
      due or not due and whether under, pursuant to or evidenced by a note, agreement,
      guaranty, instrument or otherwise (all of which are herein collectively referred
      to as the “Obligations”),
      and
      irrespective of the genuineness, validity, regularity or enforceability of
      such
      Obligations, or of any instrument evidencing any of the Obligations or of any
      collateral therefor or of the existence or extent of such collateral, and
      irrespective of the allowability, allowance or disallowance of any or all of
      the
      Obligations in any case commenced by or against any of the Debtors under Title
      11, United States Code, the Bankruptcy
      and Insolvency Act
      (Canada)
      (the “BIA”)
      and
      the Companies’
      Creditors Arrangement Act
      (the
“CCAA”)
      including, without limitation, obligations or indebtedness of any or all of
      the
      Debtors for post-petition interest, fees, costs and charges that would have
      accrued or been added to the Obligations but for the commencement of such case.
      For greater certainty, the Indebtedness (as defined in the Debenture dated
      as of
      December 31, 2005 granted by A.C. Technical Systems Ltd. in favor of Laurus
      registered as instrument No. DR463328) shall include the Obligations hereunder.
      Terms not otherwise defined herein shall have the meaning assigned such terms
      in
      the 2006 Securities Purchase Agreement. In furtherance of the foregoing, the
      undersigned hereby agree as follows:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	1.  	
              No
                Impairment.
                Laurus may at any time and from time to time, either before or after
                the
                maturity thereof, without notice to or further consent of the undersigned,
                extend the time of payment of, exchange or surrender any collateral
                for,
                renew or extend any of the Obligations or increase or decrease the
                interest rate thereon, or any other agreement with any of the Debtors
                or
                with any other party to or person liable on any of the Obligations,
                or
                interested therein, for the extension, renewal, payment, compromise,
                discharge or release thereof, in whole or in part, or for any modification
                of the terms thereof or of any agreement between Laurus and any of
                the
                Debtors or any such other party or person, or make any election of
                rights
                Laurus may deem desirable under the United States Bankruptcy Code,
                as
                amended, the BIA, the CCAA, or any other federal, provincial or state
                bankruptcy, reorganization, moratorium or insolvency law relating
                to or
                affecting the enforcement of creditors’ rights generally (any of the
                foregoing, an “Insolvency
                Law”)
                without in any way impairing or affecting this Amended and Restated
                Guaranty. This instrument shall be effective regardless of the subsequent
                incorporation, merger, amalgamation or consolidation of the Debtors
                or
                Guarantor, or any change in the composition, nature, personnel or
                location
                of the Debtors or Guarantor and shall extend to any successor entity
                to
                the Debtors or Guarantor, including a debtor in possession or the
                like
                under any Insolvency Law.

            

    

     

    
      	2.  	
              Guaranty
                Absolute.
                The undersigned guarantees that the Obligations will be paid strictly
                in
                accordance with the terms of the 2005 Documents and 2006 Documents
                and/or
                any other document, instrument or agreement creating or evidencing
                the
                Obligations, regardless of any law, regulation or order now or hereafter
                in effect in any jurisdiction affecting any of such terms or the
                rights of
                the Debtors with respect thereto. Guarantor hereby knowingly accept
                the
                full range of risk encompassed within a contract of “continuing guaranty”
                which risk includes the possibility that the Debtors will contract
                additional indebtedness for which Guarantor may be liable hereunder
                after
                the Debtors’ financial condition or ability to pay their lawful debts when
                they fall due has deteriorated, whether or not the Debtors have properly
                authorized incurring such additional indebtedness. The undersigned
                acknowledges that (i) no oral representations, including any
                representations to extend credit or provide other financial accommodations
                to the Debtors, have been made by Laurus to induce the undersigned
                to
                enter into this Amended and Restated Guaranty and (ii) any extension
                of credit to the Debtors shall be governed solely by the provisions
                of the
                2005 Documents and 2006 Documents. The liability of the undersigned
                under
                this Amended and Restated Guaranty shall be absolute and unconditional,
                in
                accordance with its terms, and shall remain in full force and effect
                without regard to, and shall not be released, suspended, discharged,
                terminated or otherwise affected by, any circumstance or occurrence
                whatsoever, including, without limitation: (a) any waiver,
                indulgence, renewal, extension, amendment or modification of or addition,
                consent or supplement to or deletion from or any other action or
                inaction
                under or in respect of the 2005 Documents and 2006 Documents or any
                other
                instruments or agreements relating to the Obligations or any assignment
                or
                transfer of any thereof, (b) any lack of validity or enforceability
                of any 2005 Document and/or 2006 Document or other documents, instruments
                or agreements relating to the Obligations or any assignment or transfer
                of
                any thereof, (c) any furnishing of any additional security to Laurus
                or its assignees or any acceptance thereof or any release of any
                security
                by Laurus or its assignees, (d) any limitation on any party’s
                liability or obligation under the 2005 Documents and/or 2006 Documents
                or
                any other documents, instruments or agreements relating to the Obligations
                or any assignment or transfer of any thereof or any invalidity or
                unenforceability, in whole or in part, of any such document, instrument
                or
                agreement or any term thereof, (e) any bankruptcy, insolvency,
                reorganization, composition, adjustment, dissolution, liquidation
                or other
                like proceeding relating to the Debtors, or any action taken with
                respect
                to this Amended and Restated Guaranty by any trustee, receiver, interim
                receiver, or receiver and manager, or by any court, in any such
                proceeding, whether or not the undersigned shall have notice or knowledge
                of any of the foregoing, (f) any exchange, release or nonperfection
                of any collateral, or any release, or amendment or waiver of or consent
                to
                departure from any guaranty or security, for all or any of the Obligations
                or (g) any other circumstance which might otherwise constitute a
                defense available to, or a discharge of, the undersigned. Any amounts
                due
                from the undersigned to Laurus shall bear interest until such amounts
                are
                paid in full at the highest rate then applicable to the Obligations.
                Obligations include post-petition interest whether or not allowed
                or
                allowable.

            

    

     

    
      
        
        

      

      
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      	3.  	
              Limited
                Recourse

            

    

     

    Notwithstanding
      any other provision hereof, the liability of the undersigned hereunder and
      the
      recourse of Laurus for payment and performance of this guaranty and the
      Obligations shall be limited to the Collateral, as defined in the Share Pledge
      Agreement dated September 30, 2004 among the undersigned, A.C. Technical Systems
      Ltd. and A.C. Technical Acquisition Corp. (now Creative Vistas Acquisition
      Corp.) in favour of Laurus, and the Share Pledge Agreement dated December 31,
      2005 among the Parent, Creative Vistas Acquisition Corp., Cancable Canada and
      Cancable Holding in favour of Laurus, and any proceeds arising in respect of
      any
      transfer of the Collateral, and Laurus shall not have, under any circumstances,
      have any right hereunder to any other assets of the undersigned.

     

    
      	4.  	
              Payment.
                

            

    

     

    
      
        
        

      

      
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              (a)

            	
              Payment
                shall be made to Laurus at the office of Laurus from time to time
                on
                demand as Obligations hereunder become due. The undersigned shall
                make all
                payments to Laurus on the Obligations without setoff, counterclaim,
                restrictions or conditions of any kind and free and clear of, and
                without
                deduction or withholdings for or on account of, (i) any present or
                future
                duties, taxes, levies, imposts, fees, deductions, assessments,
                withholdings or other charges of any nature whatsoever or interest,
                penalties or other amounts in respect thereof imposed or levied by
                or on
                behalf of the Canadian Government or of any province or territory
                thereof
                or any authority or agency therein or thereof having power to tax
                (collectively, “Taxes”); or (ii) any present or future stamp or
                documentary taxes or any other excise or property taxes, charges
                or
                similar levies which arise from any payment made hereunder or from
                the
                execution, delivery or registration of, or otherwise with respect
                to, this
                Amended and Restated Guaranty or any of the other Documents (collectively,
                “Other Taxes”) unless such deduction or withholding is required by law or
                the administrative practice of any taxation
                authority.

            

    

    
       

      
        	 	
                (b)

              	
                If
                  the undersigned shall be required by law to deduct or withhold
                  in respect
                  of any Taxes or Other Taxes from or in respect of any sum payable
                  hereunder to Laurus, then: 

              

      

    

     

    
      	(i)     	
              the
                sum payable shall be increased as necessary so that after making
                all
                required deductions and withholdings (including deductions and
                withholdings applicable to additional sums payable under this Section)
                Laurus receives an amount equal to the sum it would have received
                had no
                such deductions or withholdings been
                made;

            

    

    
      	 	
              (ii)
                

            	
              the
                undersigned shall make such deductions and
                withholdings;

            

    

    
      	 	
              (iii)
                

            	
              the
                undersigned shall pay the full amount deducted or withheld to the
                relevant
                taxing authority or other authority in accordance with applicable
                law;
                and

            

    

    
      	 	
              (iv)
                

            	
              to
                the extent not paid to Laurus pursuant to clause (i) above, the
                undersigned shall also pay to Laurus, at the time interest is paid,
                all
                additional amounts which Laurus specifies as necessary to preserve
                the
                after-tax yield Laurus would have received if such Taxes or Other
                Taxes
                had not been imposed.

            

    

    
    

     

    
      	(c)  	
              Within
                thirty (30) days after the date of any payment by the undersigned
                of Taxes
                or Other Taxes, upon Laurus’ request, the undersigned shall furnish to
                Laurus the original or a certified copy of a receipt evidencing payment
                thereof, or other evidence of payment reasonably satisfactory to
                Laurus.

            

    

     

    
      	(d)  	
              The
                undersigned will indemnify Laurus for the full amount of Taxes and
                Other
                Taxes paid by Laurus. If Laurus receives a refund in respect of any
                Taxes
                or Other Taxes for which Laurus has received payment from the undersigned
                hereunder, so long as no Event of Default, or act, condition or event
                which with notice or passage of time or both would constitute an
                Event of
                Default, shall exist or have occurred and be continuing, Laurus shall
                hold
                for the account of the undersigned, the amount of such refund plus
                any
                interest received (but only to the extent of indemnity payments made,
                or
                additional amounts paid, by the undersigned under this Section with
                respect to the Taxes or Other Taxes giving rise to such refund).
                If
                Taxes or Other Taxes were not correctly or legally asserted, Laurus
                shall,
                upon request of the undersigned, and at its expense, provide such
                documents to the undersigned in form and substance satisfactory to
                Laurus,
                as the undersigned may reasonably request, to enable the undersigned
                to
                contest such Taxes or Other Taxes pursuant to appropriate proceedings
                then
                available to the undersigned (so long as providing such documents
                shall
                not, in good faith determination of Laurus, have a reasonable likelihood
                of resulting in any liability of Laurus). The obligations of the
                undersigned under this Section shall survive the termination or revocation
                of this Amended and Restated Guaranty and the 2005 Documents and
                the 2006
                Documents and the payment of all amounts payable under this Amended
                and
                Restated Guaranty and the 2005 Documents and the 2006
                Documents.

            

    

     

    
      
        
        

      

      
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      	5.  	
              Limitation
                on Obligations.
                It is the intention of the undersigned that the maximum amount of
                the
                Obligations of the undersigned hereunder shall be equal to, but not
                in
                excess of, the highest rate permitted by applicable law then applicable
                to
                the Obligations. To that end, with respect to the determination of
                the
                “highest rate permitted by applicable law then applicable to the
                Obligations”, but only to the extent such Obligations would otherwise be
                avoidable, the Obligations of the undersigned hereunder shall be
                limited
                to the highest rate that the undersigned is permitted to pay in respect
                of
                the Obligations under any applicable Insolvency Law. Any such limitation
                shall be apportioned amongst the Obligations owed to Laurus pro rata.
                This
                Section 5 is intended solely to preserve the rights of Laurus hereunder
                to
                the maximum extent permitted by applicable law, and neither the
                undersigned nor any person shall have any rights under this Section
                5 that
                it would not otherwise have under any applicable
                law.

            

    

     

    
      	6.  	
              Waivers.

            

    

     

    (a)  This
      Amended and Restated Guaranty is a guaranty of payment and not of collection.
      Laurus shall be under no obligation to institute suit, exercise rights or
      remedies or take any other action against the Debtors or any other person liable
      with respect to any of the Obligations or resort to any collateral security
      held
      by it to secure any of the Obligations as a condition precedent to the
      undersigned being obligated to perform as agreed herein and the undersigned
      hereby waives any and all rights which it may have by statute or otherwise
      which
      would require Laurus to do any of the foregoing. The undersigned further
      consents and agrees that Laurus shall be under no obligation to marshal any
      assets in favor of Guarantor, or against or in payment of any or all of the
      Obligations. The undersigned hereby waives all suretyship defenses and any
      rights to interpose any defense, counterclaim or offset of any nature and
      description which the undersigned may have or which may exist between and among
      Laurus, any of the Debtors and/or the undersigned with respect to the
      undersigned’s obligations under this Amended and Restated Guaranty, or which the
      Debtors may assert on the underlying debt, including but not limited to failure
      of consideration, breach of warranty, fraud, payment (other than cash payment
      in
      full of the Obligations), statute of frauds, bankruptcy, infancy, statute of
      limitations, accord and satisfaction, and usury. 

     

    
      
        
        

      

      
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    (b)  The
      undersigned further waives (i) notice of the acceptance of this Amended and
      Restated Guaranty, of the making of any such loans or extensions of credit,
      and
      of all notices and demands of any kind to which the undersigned may be entitled,
      including, without limitation, notice of adverse change in any of the Debtors’
financial condition or of any other fact which might materially increase the
      risk of the undersigned and (ii) presentment to or demand of payment from
      anyone whomsoever liable upon any of the Obligations, protest, notices of
      presentment, non-payment or protest and notice of any sale of collateral
      security or any default of any sort.

     

    (c)  Notwithstanding
      any payment or payments made by the undersigned hereunder, or any setoff or
      application of funds of the undersigned by Laurus, the undersigned shall not
      be
      entitled to be subrogated to any of the rights of Laurus against any of the
      Debtors or against any collateral or guarantee or right of offset held by Laurus
      for the payment of the Obligations, nor shall the undersigned seek or be
      entitled to seek any contribution, indemnification or reimbursement from the
      Debtors in respect of payments made by the undersigned hereunder, until all
      amounts owing to Laurus by the Debtors on account of the Obligations are paid
      in
      full and Laurus’ obligation to extend credit pursuant to the 2005 Documents and
      2006 Documents have been terminated. If, notwithstanding the foregoing, any
      amount shall be paid to the undersigned on account of such subrogation rights
      at
      any time when all of the Obligations shall not have been paid in full and
      Laurus’ obligation to extend credit pursuant to the 2005 Documents and 2006
      Documents shall not have been terminated, such amount shall be held by the
      undersigned in trust for Laurus, segregated from other funds of the undersigned,
      and shall forthwith upon, and in any event within two (2) business days of,
      receipt by the undersigned, be turned over to Laurus in the exact form received
      by the undersigned (duly endorsed by the undersigned to Laurus, if required),
      to
      be applied against the Obligations, whether matured or unmatured, in such order
      as Laurus may determine, subject to the provisions of the 2005 Documents and
      2006 Documents. Any and all present and future debts and obligations of the
      Debtors to the undersigned are hereby waived and postponed in favor of, and
      subordinated to the full payment and performance of, all present and future
      debts and Obligations of the Debtors to Laurus.

     

    
      	7.  	
              Security.
                All sums at any time to the credit of the undersigned and any property
                of
                the undersigned in Laurus’ possession or in the possession of any bank,
                financial institution or other entity that directly or indirectly,
                through
                one or more intermediaries, controls or is controlled by, or is under
                common control with, Laurus (each such entity, an “Affiliate”)
                shall be deemed held by Laurus or such Affiliate, as the case may
                be, as
                security for any and all of the undersigned’s obligations to Laurus and to
                any Affiliate of Laurus, no matter how or when arising and whether
                under
                this or any other instrument, agreement or otherwise.
                

            

    

     

    
      	8.  	
              Representations
                and Warranties.
                The undersigned hereby represents and warrants (all of which
                representations and warranties shall survive until all Obligations
                are
                indefeasibly satisfied in full and the 2005 Documents and 2006 Documents
                have been irrevocably terminated),
                that:

            

    

     

    
      
        
        

      

      
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    (a)  Legal,
      Valid and Binding Character.
      This
      Amended and Restated Guaranty constitutes its legal, valid and binding
      obligation enforceable in accordance with its terms, except as enforceability
      may be limited by applicable bankruptcy, insolvency, reorganization, moratorium
      or other laws of general application affecting the enforcement of creditor’s
      rights and general principles of equity that restrict the availability of
      equitable or legal remedies. 

     

    (b)  Violations.
      The
      execution, delivery and performance of this Amended and Restated Guaranty will
      not violate any requirement of law applicable to it or any contract, agreement
      or instrument to it is a party or by which it or any of its property is bound
      or
      result in the creation or imposition of any mortgage, lien or other encumbrance
      other than to Laurus on any of its property or assets pursuant to the provisions
      of any of the foregoing, which, in any of the foregoing cases, could reasonably
      be expected to have, either individually or in the aggregate, a Material Adverse
      Effect.

     

    (c)  Consents
      or Approvals.
      No
      consent of any other person or entity (including, without limitation, any
      creditor of the undersigned) and no consent, license, permit, approval or
      authorization of, exemption by, notice or report to, or registration, filing
      or
      declaration with, any governmental authority is required in connection with
      the
      execution, delivery, performance, validity or enforceability of this Amended
      and
      Restated Guaranty by it, except to the extent that the failure to obtain any
      of
      the foregoing could not reasonably be expected to have, either individually
      or
      in the aggregate, a Material Adverse Effect.

     

    (d)  Litigation.
      No
      litigation, arbitration, investigation or administrative proceeding of or before
      any court, arbitrator or governmental authority, bureau or agency is currently
      pending or, to the best of its knowledge, threatened (i) with respect to
      this Amended and Restated Guaranty or any of the transactions contemplated
      by
      this Amended and Restated Guaranty or (ii) against or affecting it, or any
      of its property or assets, which, in each of the foregoing cases, if adversely
      determined, could reasonably be expected to have a Material Adverse
      Effect.

     

    (e)  Financial
      Benefit.
      It has
      derived or expects to derive a financial or other advantage from each and every
      loan, advance or extension of credit made under the 2005 Documents and 2006
      Documents or other Obligation incurred by the Debtors to Laurus.

     

    
      	9.  	
              Acceleration.

            

    

     

    (a)  If
      any
      breach of any covenant or condition or other event of default shall occur and
      be
      continuing under any agreement made by the Debtors or the undersigned to Laurus,
      or the Debtors or the undersigned should at any time become insolvent, or make
      a
      general assignment, or if a proceeding in or under any Insolvency Law shall
      be
      filed or commenced by, or in respect of, any of the undersigned, or if a notice
      of any lien, levy, or assessment is filed of record with respect to any assets
      of the undersigned by the United States of America or Canada, or any respective
      department, agency, or instrumentality of either country, or if any taxes or
      debts owing at any time or times hereafter to any one of them becomes a lien
      or
      encumbrance upon any assets of the undersigned in Laurus’ possession, or
      otherwise, any and all Obligations shall for purposes hereof, at Laurus’ option,
      be deemed due and payable without notice notwithstanding that any such
      Obligation is not then due and payable by the Debtors.

     

    
      
        
        

      

      
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    (b)  The
      undersigned will promptly notify Laurus of any default by such undersigned
      in
      its respective performance or observance of any term or condition of any
      agreement to which the undersigned is a party if the effect of such default
      is
      to cause, or permit the holder of any obligation under such agreement to cause,
      such obligation to become due prior to its stated maturity and, if such an
      event
      occurs, Laurus shall have the right to accelerate such undersigned’s obligations
      hereunder.

     

    
      	10.  	
              Payments
                from Guarantor.
                Laurus, in its sole and absolute discretion, with or without notice
                to the
                undersigned, may apply on account of the Obligations any payment
                from the
                undersigned or any other Guarantor, or amounts realized from any
                security
                for the Obligations, or may deposit any and all such amounts realized
                in a
                non-interest bearing cash collateral deposit account to be maintained
                as
                security for the Obligations.

            

    

     

    
      	11.  	
              Tax
                Gross Up.
                Any and all payments by the Guarantor hereunder, and any amounts
                on
                account of interest or deemed interest, shall be made free and clear
                of
                and without deduction for any and all present or future taxes, levies,
                imposts, deductions, charges or withholdings, and all liabilities
                with
                respect thereto, excluding taxes imposed on net income or franchise
                taxes
                of Laurus by the jurisdiction in which such person is organized or
                has its
                principal office (all such non-excluded taxes, levies, imposts,
                deductions, charges withholdings and liabilities, collectively or
                individually, “Taxes”).
                If any Guarantor shall be required to deduct any Taxes from or in
                respect
                of any sum payable hereunder to Laurus, (i) the sum payable shall be
                increased by the amount (an “additional
                amount”)
                necessary so that after making all required deductions (including
                deductions applicable to additional sums payable under this Section
                11)
                Laurus shall receive an amount equal to the sum it would have received
                had
                no such deductions been made, (ii) such Guarantor shall make such
                deductions and (iii) such Guarantor shall pay the full amount
                deducted to the relevant governmental authority in accordance with
                applicable law.

            

    

     

    In
      addition, the Guarantor agrees to pay to the relevant governmental authority
      in
      accordance with applicable law any present or future stamp or documentary taxes
      or any other excise or property taxes, charges or similar levies that arise
      from
      any payment made hereunder or from the execution, delivery or registration
      of,
      or otherwise with respect to, this Amended and Restated Guaranty (“Other
      Taxes”).
      The
      Guarantor shall deliver to Laurus official receipts, if any, in respect of
      any
      Taxes or Other Taxes payable hereunder promptly after payment of such Taxes
      or
      Other Taxes or other evidence of payment reasonably acceptable to
      Laurus.

     

    The
      Guarantor hereby indemnifies and agrees to hold Laurus harmless from and against
      Taxes and Other Taxes (including, without limitation, Taxes and Other Taxes
      imposed on any amounts payable under this Section 11) paid by such person,
      whether or not such Taxes or Other Taxes were correctly or legally asserted.
      Such indemnification shall be paid within ten (10) days from the date on which
      any such person makes written demand therefore specifying in reasonable detail
      the nature and amount of such Taxes or Other Taxes.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      	12.  	
              Costs.
                The undersigned shall pay on demand, all costs, fees and expenses
                (including, without limitation, expenses for legal services of every
                kind)
                relating or incidental to the enforcement or protection of the rights
                of
                Laurus hereunder or under any of the
                Obligations.

            

    

     

    
      	13.  	
              No
                Termination.
                This is a continuing irrevocable guaranty and shall remain in full
                force
                and effect and be binding upon the undersigned, and the undersigned’s
                successors and assigns, until all of the Obligations have been paid
                in
                full and Laurus’ obligation to extend credit pursuant to the 2005
                Documents and 2006 Documents has been irrevocably terminated. If
                any of
                the present or future Obligations are guaranteed by persons, partnerships
                or corporations in addition to the undersigned, the death, release
                or
                discharge in whole or in part or the bankruptcy, amalgamation, merger,
                consolidation, incorporation, liquidation or dissolution of one or
                more of
                them shall not discharge or affect the liabilities of any undersigned
                under this Amended and Restated
                Guaranty.

            

    

     

    
      	14.  	
              Recapture.
                Anything in this Amended and Restated Guaranty to the contrary
                notwithstanding, if Laurus receives any payment or payments on account
                of
                the liabilities guaranteed hereby, which payment or payments or any
                part
                thereof are subsequently invalidated, declared to be fraudulent or
                preferential, set aside and/or required to be repaid to a trustee,
                receiver, interim receiver or receiver and manager or any other party
                under any Insolvency Law, common law or equitable doctrine, then
                to the
                extent of any sum not finally retained by Laurus, the undersigned’s
                obligations to Laurus shall be reinstated and this Amended and Restated
                Guaranty shall remain in full force and effect (or be reinstated)
                until
                payment shall have been made to Laurus, which payment shall be due
                on
                demand.

            

    

     

    
      	15.  	
              Books
                and Records.
                The books and records of Laurus showing the account between Laurus
                and the
                Debtors shall be admissible in evidence in any action or proceeding,
                shall
                be binding upon the undersigned for the purpose of establishing the
                items
                therein set forth and shall constitute prima facie proof
                thereof.

            

    

     

    
      	16.  	
              No
                Waiver.
                No failure on the part of Laurus to exercise, and no delay in exercising,
                any right, remedy or power hereunder shall operate as a waiver thereof,
                nor shall any single or partial exercise by Laurus of any right,
                remedy or
                power hereunder preclude any other or future exercise of any other
                legal
                right, remedy or power. Each and every right, remedy and power hereby
                granted to Laurus or allowed it by law or other agreement shall be
                cumulative and not exclusive of any other, and may be exercised by
                Laurus
                at any time and from time to time.

            

    

     

    
      	17.  	
              Waiver
                of Jury Trial.
                THE UNDERSIGNED DOES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY
                WAIVE
                THE RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED ON OR
                WITH
                RESPECT TO THIS AMENDED AND RESTATED GUARANTY OR ANY OF THE TRANSACTIONS
                CONTEMPLATED HEREBY OR RELATING OR INCIDENTAL HERETO. THE UNDERSIGNED
                DOES
                HEREBY CERTIFY THAT NO REPRESENTATIVE OR AGENT OF LAURUS HAS REPRESENTED,
                EXPRESSLY OR OTHERWISE, THAT LAURUS WOULD NOT, IN THE EVENT OF LITIGATION,
                SEEK TO ENFORCE THIS WAIVER OF RIGHT TO JURY TRIAL PROVISION.
                

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	18.  	
              Governing
                Law; Jurisdiction; Amendments.
                THIS INSTRUMENT CANNOT BE CHANGED OR TERMINATED ORALLY, AND SHALL
                BE
                GOVERNED, CONSTRUED AND INTERPRETED AS TO VALIDITY, ENFORCEMENT AND
                IN ALL
                OTHER RESPECTS IN ACCORDANCE WITH THE LAWS OF THE PROVINCE OF ONTARIO
                AND
                THE FEDERAL LAWS OF CANADA. THE UNDERSIGNED EXPRESSLY CONSENTS TO
                THE
                JURISDICTION AND VENUE OF THE SUPREME COURT OF THE STATE OF NEW YORK,
                COUNTY OF NEW YORK, AND OF THE UNITED STATES DISTRICT COURT FOR THE
                SOUTHERN DISTRICT OF NEW YORK FOR ALL PURPOSES IN CONNECTION HEREWITH.
                ANY
                JUDICIAL PROCEEDING BY THE UNDERSIGNED AGAINST LAURUS INVOLVING,
                DIRECTLY
                OR INDIRECTLY ANY MATTER OR CLAIM IN ANY WAY ARISING OUT OF, RELATED
                TO OR
                CONNECTED HEREWITH SHALL BE BROUGHT ONLY IN THE SUPREME COURT OF
                THE STATE
                OF NEW YORK, COUNTY OF NEW YORK OR THE UNITED STATES DISTRICT COURT
                FOR
                THE SOUTHERN DISTRICT OF NEW YORK. THE UNDERSIGNED FURTHER CONSENTS
                THAT
                ANY SUMMONS, SUBPOENA OR OTHER PROCESS OR PAPERS (INCLUDING, WITHOUT
                LIMITATION, ANY NOTICE OR MOTION OR OTHER APPLICATION TO EITHER OF
                THE
                AFOREMENTIONED COURTS OR A JUDGE THEREOF) OR ANY NOTICE IN CONNECTION
                WITH
                ANY PROCEEDINGS HEREUNDER, MAY BE SERVED INSIDE OR OUTSIDE OF THE
                STATE OF
                NEW YORK OR THE SOUTHERN DISTRICT OF NEW YORK BY REGISTERED OR CERTIFIED
                MAIL, RETURN RECEIPT REQUESTED, OR BY PERSONAL SERVICE PROVIDED A
                REASONABLE TIME FOR APPEARANCE IS PERMITTED, OR IN SUCH OTHER MANNER
                AS
                MAY BE PERMISSIBLE UNDER THE RULES OF SAID COURTS. THE UNDERSIGNED
                WAIVES
                ANY OBJECTION TO JURISDICTION AND VENUE OF ANY ACTION INSTITUTED
                HEREON
                AND SHALL NOT ASSERT ANY DEFENSE BASED ON LACK OF JURISDICTION OR
                VENUE OR
                BASED UPON FORUM NON CONVENIENS.

            

    

     

    
      	19.  	
              Judgment
                Currency.
                If, for the purpose of obtaining or enforcing judgment against any
                Guarantor in any court in any jurisdiction, it becomes necessary
                to
                convert into any other currency (such other currency being hereinafter
                in
                this section referred to as the “Judgment
                Currency”)
                an amount due under this Amended and Restated Guaranty in any currency
                (the “Obligation
                Currency”)
                other than the Judgment Currency, the conversion shall be made at
                the rate
                of exchange prevailing on the business day immediately preceding
                (a) the date of actual payment of the amount due, in the case of any
                proceeding in the courts of New York or in the courts of any other
                jurisdiction that will give effect to such conversion being made
                on such
                date, or (b) the date on which the foreign court determines, in the
                case of any proceeding in the courts of any other jurisdiction (the
                applicable date as of which such conversion is made pursuant to this
                section being hereinafter in this section referred to as the “Judgment
                Conversion Date”).

            

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

       

    

    If,
      in
      the case of any proceeding in the court of any jurisdiction referred to in
      the
      preceding paragraph, there is a change in the rate of exchange prevailing
      between the Judgment Conversion Date and the date of actual receipt of the
      amount due in immediately available funds, the Guarantor shall pay such
      additional amount (if any, but in any event not a lesser amount) as may be
      necessary to ensure that the amount actually received in the Judgment Currency,
      when converted at the rate of exchange prevailing on the date of payment, will
      produce the amount of the Obligation Currency which could have been purchased
      with the amount of the Judgment Currency stipulated in the judgment or judicial
      order at the rate of exchange prevailing on the Judgment Conversion Date. Any
      amount due from any Guarantor under this section shall be due as a separate
      debt
      and shall not be affected by judgment being obtained for any other amounts
      due
      under or in respect of this Amended and Restated Guaranty.

     

    
      	20.  	
              Severability.
                To the extent permitted by applicable law, any provision of this
                Amended
                and Restated Guaranty 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.

            

    

     

    
      	21.  	
              Amendments,
                Waivers.
                No amendment or waiver of any provision of this Amended and Restated
                Guaranty nor consent to any departure by the undersigned therefrom
                shall
                in any event be effective unless the same shall be in writing executed
                by
                the undersigned directly affected by such amendment and/or waiver
                and
                Laurus.

            

    

     

    
      	22.  	
              Notice.
                All notices, requests and demands to or upon the undersigned, shall
                be in
                writing and shall be deemed to have been duly given or made (a) when
                delivered, if by hand, (b) three (3) days after being sent, postage
                prepaid, if by registered or certified mail, (c) when confirmed
                electronically, if by facsimile, or (d) when delivered, if by a
                recognized overnight delivery service in each event, to the numbers
                and/or
                address set forth beneath the signature of the
                undersigned.

            

    

     

    
      	23.  	
              This
                Amended and Restated Guaranty may be executed in any number of
                counterparts which shall, collectively and separately constitute
                one
                agreement. Any signature delivered by a party by facsimile transmission
                or
                by sending a scanned copy by electronic mail shall be deemed an original
                signature hereto.

            

    

     

    
      	24.  	
              Successors.
                Laurus may, from time to time, without notice to the undersigned,
                sell,
                assign, transfer or otherwise dispose of all or any part of the
                Obligations and/or rights under this Amended and Restated Guaranty.
                Without limiting the generality of the foregoing, Laurus may assign,
                or
                grant participations to, one or more banks, financial institutions
                or
                other entities all or any part of any of the Obligations. In each
                such
                event, Laurus, its Affiliates and each and every immediate and successive
                purchaser, assignee, transferee or holder of all or any part of the
                Obligations shall have the right to enforce this Amended and Restated
                Guaranty, by legal action or otherwise, for its own benefit as fully
                as if
                such purchaser, assignee, transferee or holder were herein by name
                specifically given such right. Laurus shall have an unimpaired right
                to
                enforce this Amended and Restated Guaranty for its benefit with respect
                to
                that portion of the Obligations which Laurus has not disposed of,
                sold,
                assigned, or otherwise transferred.

            

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    
      	25.  	
              It
                is understood and agreed that any person or entity that desires to
                become
                a Guarantor hereunder, or is required to execute a counterpart of
                this
                Amended and Restated Guaranty after the date hereof pursuant to the
                requirements of any of the 2005 Documents or 2006 Documents, shall
                become
                Guarantor hereunder by (x) executing a joinder agreement in form and
                substance satisfactory to Laurus, (y) delivering supplements to such
                exhibits and annexes to such 2005 Documents or 2006 Documents as
                Laurus
                shall reasonably request and (z) taking all actions as specified in
                this Amended and Restated Guaranty as would have been taken by such
                Guarantor had it been an original party to this Amended and Restated
                Guaranty, in each case with all documents required above to be delivered
                to Laurus and with all documents and actions required above to be
                taken to
                the reasonable satisfaction of
                Laurus.

            

    

     

    
      	26.  	
              Release.
                Nothing except cash payment in full of the Obligations shall release
                the
                undersigned from liability under this Amended and Restated
                Guaranty.

            

    

     

    
      	27.  	
              Limitation
                of Obligations under this Amended and Restated Guaranty.
                The Guarantor and Laurus (by its acceptance of the benefits of this
                Amended and Restated Guaranty) hereby confirm that it is their intention
                that this Amended and Restated Guaranty not constitute (i) a
                fraudulent transfer or conveyance for purposes of the Bankruptcy
                Code,
                the Uniform
                Fraudulent Conveyance Act
                or
                any similar federal, provincial or state law; or (ii) a preference or
                a preferential transfer for purposes of the BIA or under any other
                applicable bankruptcy, insolvency or similar law now or hereafter
                in
                effect in any bankruptcy, insolvency or similar proceeding with respect
                to
                the Debtors. To effectuate the foregoing intention, the Guarantor
                which is
                subject to the Bankruptcy
                Code,
                the Uniform
                Fraudulent Conveyance Act
                or
                any similar US federal or state law and Laurus (by its acceptance
                of the
                benefits of this Amended and Restated Guaranty) hereby irrevocably
                agrees
                that the Obligations guaranteed by such Guarantor shall be limited
                to such
                amount as will, after giving effect to such maximum amount and all
                other
                (contingent or otherwise) liabilities of such Guarantor that are
                relevant
                under such laws and after giving effect to any rights to contribution
                pursuant to any agreement providing for an equitable contribution
                among
                such Guarantor and the other Guarantor (including this Amended and
                Restated Guaranty), result in the Obligations of such Guarantor under
                this
                Amended and Restated Guaranty in respect of such maximum amount not
                constituting a fraudulent transfer or conveyance, preference or
                preferential transfer. 

            

    

     

    
      	28.  	
              Understanding
                With Respect to Waivers and Consents.
                The Guarantor warrants and agrees that each of the waivers and consents
                set forth in this Amended and Restated Guaranty is made voluntarily
                and
                unconditionally after consultation with outside legal counsel and
                with
                full knowledge of its significance and consequences, with the
                understanding that events giving rise to any defense or right waived
                may
                diminish, destroy or otherwise adversely affect rights which such
                Guarantor otherwise may have against the Debtors, Laurus or any other
                person or entity or against any collateral. If, notwithstanding the
                intent
                of the parties that the terms of this Amended and Restated Guaranty
                shall
                control in any and all circumstances, any such waivers or consents
                are
                determined to be unenforceable under applicable law, such waivers
                and
                consents shall be effective to the maximum extent permitted by
                law.

            

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    
      	29.  	
              Remedies
                Not Exclusive.
                The remedies conferred upon Laurus in this Amended and Restated Guaranty
                are intended to be in addition to, and not in limitation of any other
                remedy or remedies available to Laurus under applicable law or
                otherwise.

            

    

     

    [Remainder
      of this page has been intentionally left blank.]

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

       

    

    IN
      WITNESS WHEREOF, this Amended and Restated Guaranty has been executed by the
      undersigned this 13th day of February, 2006.

     

    

     

    
      	 	 	
              BRENT
                W. SWANICK

               

            
	 	 	
              /s/
                BRENT SWANICK

            
	 	 	
               

            
	 	 	 	 	 

    

     

    
      
        
        

      

      
        14Unassociated Document

    AGREEMENT

     

    THIS
      AGREEMENT
      is made
      as of February 13, 2006 between Iview Digital Video Solutions Inc., a Canadian
      corporation (“Iview
      Canada”),
      Iview
      Holding Corp., a Delaware Corporation (“Iview
      Parent”),
      Creative Vistas Acquisition Corp., an Ontario Corporation (“CVAC”),
      and
      Creative Vistas, Inc., an Arizona Corporation (“Parent”)
      and
      Laurus Master Fund, Ltd., (“Laurus”).

     

    WHEREAS,
      Iview
      Parent has issued an Option (as amended, modified or supplemented from time
      to
      time, the “Option”)
      to
      Laurus to purchase up to 20% of the common stock of Iview Parent (subject to
      adjustment as set forth therein).

     

    NOW
      THEREFORE,
      for
      good and valuable consideration, the receipt and sufficiency of which is hereby
      acknowledged, the parties agree as follows:

     

    
      	1.  	
              Unanimous
                Shareholders Agreement.
                Forthwith following the exercise of the Option in whole or in part
                pursuant to Section 1.1 of the Option, each of Iview Parent, Creative
                Vistas, Inc. and Laurus agree to negotiate in good faith the terms
                of a
                unanimous shareholder agreement mutually agreeable to each of them,
                which
                unanimous shareholder agreement shall at a minimum set forth the
                requirement for Laurus to consent to those matters described in Section
                3
                hereof and addressing other matters typical of a unanimous shareholder
                agreement such as governance and transfer
                restrictions.

            

    

     

    
      	2.  	
              Dividend.
                Within 30 days of the end of each fiscal quarter following the later
                of
                (i) the exercise of the Option in whole or in part and (ii) payment
                in full to Laurus of all amounts (including interest) owing and
                outstanding under the Secured Term Note executed by Iview Canada
                in the
                aggregate principal amount of US$2,000,000 dated the date hereof
                (the
                “Secured
                Term Note”)
                (it being acknowledged and agreed that failure to pay any amount
                owing and
                outstanding under the Secured Term Note when due will not operate
                or
                otherwise serve to delay payment of the dividend contemplated hereby),
                Iview Parent (to the extent permitted by applicable law) shall, and
                shall
                cause Iview Canada to declare and pay a dividend to each of its common
                stockholders, equal to 25% of (A) the net operating cashflow generated
                by
                the respective company for such fiscal quarter (calculated (1) in
                accordance with US GAAP, (2) in a manner consistent with prior fiscal
                periods, (3) in a manner reasonably acceptable to Laurus and, for
                greater certainty, (4) without deduction for capital expenditures)
                less (B) capital expenditures made by the respective company in such
                fiscal quarter (to a maximum of 25% of the net operating cash flow
                calculated in accordance with clause (A)). In the event that Iview
                Parent
                establishes or acquires any direct or indirect subsidiary after the
                date
                hereof, Iview Parent shall also cause such subsidiary to declare
                and pay a
                dividend to each of its common stockholders, equal to 25% (A) the
                net
                operating cashflow generated by such subsidiary for such fiscal quarter
                (calculated (1) in accordance with US GAAP, (2) in a manner consistent
                with prior fiscal periods, (3) in a manner reasonably acceptable to
                Laurus and, for greater certainty, (4) without deduction for capital
                expenditures) less (B) capital expenditures made by such subsidiary
                in
                such fiscal quarter (to a maximum of 25% of the net operating cash
                flow
                calculated in accordance with clause
                (A)).

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	3.  	
              Material
                Decisions.
                Until such time as Laurus and its affiliates no longer hold common
                shares
                representing 5% or more of the outstanding common shares of Iview
                Parent
                (or securities representing the right to acquire 5% or more of the
                outstanding common shares of Iview Parent), each of Iview Parent
                and Iview
                Canada shall neither implement or effect (or otherwise resolve or
                agree to
                implement or effect), nor in any manner cause or permit any of their
                respective subsidiaries to implement or effect (or otherwise resolve
                or
                agree to implement or effect) any of the following actions without
                the
                prior approval of Laurus (which approval shall not be unreasonably
                withheld)
                and CVAC and Parent shall neither implement or effect (or otherwise
                resolve or agree to implement or effect) the action set forth in
                paragraph
                (j) below, nor cause or permit Iview Parent, Iview Canada or any
                of their
                respective subsidiaries to implement or effect (or otherwise resolve
                to
                implement or effect) any of the following actions without the prior
                approval of Laurus (which shall not be unreasonably
                withheld):

            

    

     

    
      	(a)  	
              except
                as contemplated by this Agreement, (i) declare or pay any dividends
                or
                make any other distribution in respect of any securities of each
                of Iview
                Parent and Iview Canada, and (ii) make any distribution of any nature
                (including repayment of loans) to any person not acting at arm’s length
                with Iview Parent, and/or Iview Canada or any of their respective
                shareholders other than, in each case, (A) contributions to the corporate
                expenses and overhead of Parent not to exceed, when aggregated with
                all
                distributions made to Parent contemplated by this paragraph (a) and
                all
                management services and analogous fees paid to Parent, Cdn.$350,000
                per
                annum and (B) any payments made to A.C. Technical Systems Ltd. in
                connection with operation costs or services rendered with respect
                to
                product development and marketing
                services.

            

    

     

    
      	(b)  	
              sell
                or dispose of any assets or property by Iview Parent and/or Iview
                Canada
                during any fiscal year in which any amount remains outstanding under
                the
                Secured Term Note (whether in one or more transactions) in contravention
                of the provisions of the Secured Term Note and in any fiscal year
                thereafter (whether in one or more transactions) with an aggregate
                book
                value in excess of Cdn.$250,000;

            

    

     

    
      	(c)  	
              make
                or commit to make during any fiscal quarter, capital expenditures
                exceeding, in the aggregate, 25% of the net operating cash flow of
                the
                company for such fiscal quarter (calculated in accordance with section
                2
                of
                this Agreement);

            

    

     

    
      	(d)  	
              establish,
                acquire or otherwise become an equity holder (including, for greater
                certainty, a holder of securities convertible into equity) in any
                corporate entity or any partnership, equity joint venture or similar
                arrangements;

            

    

     

    
      	(e)  	
              hire
                any employee whose annual remuneration exceeds Cdn.$300,000 per annum
                (inclusive of all benefits), or amend, terminate or otherwise alter
                or
                waive the terms of any employment, consulting or management contract
                with
                respect to an individual whose annual remuneration exceeds that
                amount;

            

    

     

    
      	(f)  	
              enter
                into any transactions outside the ordinary course with officers,
                directors
                or employees or members of their families or other persons with whom
                they
                do not act at arm’s length;

            

    

     

    
      	(g)  	
              enter
                into (other than in the ordinary course to fund working capital needs)
                or
                materially modify any credit
                facility;

            

    

     

    
      
        
        

      

      
        -
          2 -

        
          

        

      

      
        
        

      

    

     

    
      	(h)  	
              create
                any mortgage, lien, charge or other form of encumbrance with respect
                to
                any of the assets of Iview Parent and/or Iview Canada or their respective
                subsidiaries other than for the benefit of Laurus and other than
                Permitted
                Liens within the meaning ascribed thereto in Schedule A
                hereto;

            

    

     

    
      	(i)  	
              materially
                alter the fundamental nature of the business of Iview Parent and/or
                Iview
                Canada (other than in a manner consistent with the fundamental business
                presently undertaken by Parent) or otherwise engage in other businesses
                or
                activities that are not incidental to the businesses or activities
                presently undertaken by Iview Parent and/or Iview Canada;
                

            

    

     

    
      	(j)  	
              enter
                into any agreement with a term in excess of one year which contemplates
                the payment by Iview Parent and/or Iview Canada of more than Cdn.$750,000
                in the aggregate during its term;

            

    

     

    
      	(k)  	
              issue
                or sell any of the share in the capital of, or any rights, warrants
                or
                securities convertible into or exercisable or exchangeable for any
                share
                in the capital of, Iview Parent and/or Iview Canada, including by
                way of
                initial public offering;

            

    

     

    
      	(l)  	
              purchase
                any of the shares in the capital of Iview Parent and/or Iview Canada,
                except pursuant to the exercise of any retraction or redemption right
                which attached to such shares in the capital of Iview Parent and/or
                Iview
                Canada;

            

    

     

    
      	(m)  	
              wind
                up, dissolve or liquidate Iview Parent and/or Iview
                Canada;

            

    

     

    
      	(n)  	
              continue
                under the laws of another jurisdiction of Iview Parent and/or Iview
                Canada;

            

    

     

    
      	(o)  	
              change
                the fiscal year of Iview Parent and/or Iview Canada;
                or

            

    

     

    
      	(p)  	
              amend
                the articles or by-laws of Iview Parent and/or Iview Canada in such
                a
                manner as to adversely affect the interests of
                Laurus.

            

    

     

    
      	4.  	
              Term
                of Agreement.
                This Agreement shall be effective for so long as Laurus holds the
                Option
                or any portion thereof or any shares of the common stock of Iview
                Parent
                acquired upon the exercise of the Option in whole or in
                part.

            

    

     

    
      	5.  	
              Governing
                Law.
                This Agreement shall be governed by and construed and enforced in
                all
                respects in accordance with the laws of the Province of Ontario and
                the
                Federal laws of Canada.

            

    

     

    
      	6.  	
              Counterparts.
                This Agreement may be executed in one or more counterparts, each
                of which
                shall be deemed an original and all of which when taken together
                shall
                constitute one and the same agreement. Any signature delivered by
                a party
                by facsimile transmission or by sending a scanned copy by electronic
                mail
                shall be deemed an original signature
                hereto.

            

    

     

    ***
      THE BALANCE OF THIS PAGE INTENTIONALLY BLANK.

    SIGNATURE
      PAGES TO FOLLOW ***

     

    
      
        
        

      

      
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          3 -

        
          

        

      

      
        
        

      

    

     

    
      	 	 	
              IVIEW
                HOLDING CORP.

               

            
	
              Per:

            	
              /s/
                DOMINIC BURNS

            
	 	
              Name: Dominic
                Burns

              Title: President

            

    

    

     

    
      	 	 	
              IVIEW
                DIGITAL VIDEO SOLUTIONS INC.

               

            
	
              Per:

            	
              /s/
                SAYAN NAVARATNAM

            
	 	
              Name: Sayan
                Navaratnam

              Title: President

            

    

     

     

    
      	 	 	
              CREATIVE
                VISTAS ACQUISITION CORP.

               

            
	
              Per:

            	
              /s/
                SAYAN NAVARATNAM

            
	 	
              Name: Sayan
                Navaratnam

              Title: President
                and Secretary

            

    

    
       

       

      
        	 	 	
                
                  CREATIVE
                    VISTAS, INC.

                   

                

              
	
                Per:

              	
                /s/
                  DOMINIC BURNS

              
	 	
                Name:
                  Dominic Burns

                Title:
                  President

              

      

       

       

    

    
      	 	 	
              LAURUS
                MASTER FUND, LTD.

               

            
	
              Per:

            	
              /s/
                EUGENE GRIN

            
	 	
              Name:
                Eugene Grin

              Title:
                Director

            

    

     

    
      
        
        

      

      
        -
          4 -

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
      A

     

    DEFINITIONS

     

    “Permitted
      Liens”
means
      (a) liens for taxes not yet due and payable; (b) mechanics’,
      materialmans’, suppliers’, vendors’ or similar liens arising in the ordinary
      course of business securing amounts which are not delinquent and for which
      adequate reserves are kept on the financial statements and books and records
      of
      the appropriate person; and (c) liens created pursuant to equipment leases
      entered into in the ordinary course of business which encumber the property
      which is the subject of the lease.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]