Document:

Filed by Bowne Pure Compliance

 

Exhibit 10.57

THIS NOTE IS SUBJECT TO THE TERMS OF THE AGREEMENT OF SUBORDINATION AND ASSIGNMENT DATED NOVEMBER
19, 2007 BY RIO VISTA ENERGY PARTNERS L.P. AND GARY MOORES IN FAVOR OF RZB FINANCE LLC.

PROMISSORY NOTE

	 	 	 
	$500,000.00

	 	Dallas, Texas
November 19, 2007

FOR VALUE RECEIVED, Rio Vista Energy Partners L.P., a Delaware limited partnership, (the
“Borrower”), promises to pay to Gary Moores, an individual resident of Oklahoma (the “Lender”), at
the address set forth in Section 6 herein, or such other place as the Lender may
designate by written notice to Borrower, the principal sum of FIVE HUNDRED THOUSAND DOLLARS AND NO
CENTS ($500,000.00) in lawful money of the United States of America.

1. Payments
of Principal and Interest. Borrower agrees to pay both principal and interest
in full on the sixth month anniversary of the execution of this Note, provided if that date is a
weekend or holiday, payment shall be made on the first business day thereafter. This Note shall
accrue interest at a rate of seven percent (7%) per annum.

2. Prepayment. Borrower may repay this Note at any time without prepayment penalty.

3. Events of Default. The occurrence of any of the following shall be deemed to be an event
of default hereunder:

(a) Any payment due under the Note is not paid within three (3) days of the day upon which
such payment is due as set in Paragraph 1 above;

(b) Borrower makes a general assignment for the benefit of creditors or otherwise becomes
insolvent (however such insolvency is evidenced);

(c) Borrower closes its business or transfers substantially all of its assets to an
independent third party;

(d) Any petition for relief under the U.S. Bankruptcy Code or similar state insolvency or debt
moratorium statute is filed by or against Borrower and is not dismissed within thirty (30) days
after filing; or

(e) Any governmental authority, court, or court appointed receiver or officer takes possession
and control of all or a substantial portion of the assets and affairs of Borrower, and such
possession and control is not relinquished within ten (10) days.

 

 

 

If any Event of Default shall occur for any reason whatsoever, this Note shall, at the
election of Lender, become immediately due and payable in full upon written demand by Lender, and
Lender may exercise all rights and remedies provided to secured parties and creditors pursuant to
this Note, the Uniform Commercial Code and any other applicable law.

4. Assignments. Borrower may not assign its rights under this Note without the prior
written consent of Lender.

5. Amendments and Waivers. No failure by Lender to exercise any right or remedy hereunder
shall operate as a waiver hereof. This Note may not be amended, or compliance with any provision
hereof waived, except by a written agreement duly executed between Borrower and Lender.

6. Severability. If any section or provision of this Note or the application of such
section or provision is held invalid, the remainder of this Note shall not be affected thereby.

7. Notices. All notices, requests, demands or other communications required or permitted
under this Note shall be in writing and shall be deemed to have been duly given or made on the date
of service if served personally on the party to whom notice is to be given, on the date of
transmission if sent by facsimile, telex, telecopier or telegraph, or
on the fifth
(5th)
day after mailing if mailed to the party to whom notice is to be given, by first class mail,
registered or certified, postage prepaid, properly addressed as follows:

	 	 	 	 	 
	 

	 	To Borrower:
	 	Rio Vista Energy Partners L.P.
	 

	 	 	 	820 Gesssner Rd., Suite 1285
	 

	 	 	 	Houston, Texas 77024
	 
	 	 	 	 
	 

	 	With a copy to:
	 	Kevin W. Finck
	 

	 	 	 	Law Offices of Kevin W. Finck
	 

	 	 	 	2 Embarcadero Center, Suite 1670
	 

	 	 	 	San Francisco, California 91111
	 

	 	 	 	Fax: (415) 394-6446
	 
	 	 	 	 
	 

	 	To Lender:
	 	Gary Moores

8. Cumulative Rights. The remedies of Lender as provided herein shall be cumulative and
concurrent and may be pursued successively or concurrently against maker.

9. Forbearance Not a Waiver. No delay or omission on the part of Lender in exercising any
rights under this Note on default by Borrower shall operate as a waiver of such right or any of
other right under this Note for the same or other default.

10.
Successors and Assigns. This Note and all of the covenants, promises, and agreements
contained herein shall be binding upon and inure to the benefit of the respective legal and
personal representatives, devisees, heirs, successors, and assigns of Lender.

 

2

 

11. Captions. The descriptive headings of the various sections or parts of this Note are
for convenience only and shall not affect the meaning or construction of any of the provisions
hereof.

12. Governing Law. This Note and the legal relations between Borrower and Lender shall be
governed by and construed in accordance with the laws of the state of Oklahoma.

13.
Attorney’s Fees. Whether or not suit is filed, Borrower agrees to pay all reasonable
attorneys’ fees, costs of collection, costs, and expenses incurred by Lender in connection with the
enforcement or collection of this Note. Borrower further agrees to pay all costs of suit and the
sum adjudged as attorneys’ fees in any action to enforce payment of this Note or any part of it.

14. Entire Agreement. This Note constitutes the entire agreement between the parties hereto
with respect to the subject matter hereof and supersedes any and all other prior agreements,
understandings, discussions, and/or commitments of any kind.

IN WITNESS WHEREOF, the undersigned have executed and delivered this Note effective as of the
date first written above.

	 	 	 	 	 	 	 
	 	 	“BORROWER”
	 
	 	 	 	 	 	 
	 	 	Rio Vista Energy Partners, L.P.	 	 
	 	 	a Delaware limited partnership	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ [ILLEGIBLE]	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Rio Vista G.P. LLC, its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Ian T. Bothwell	 	 
	 

	 	Title:
	 	Acting Chief Executive Officer,	 	 
	 

	 	 	 	Acting President, Vice President,	 	 
	 

	 	 	 	Chief Financial Officer,	 	 
	 

	 	 	 	Treasurer and Assistant Secretary	 	 
	 

	 	 	 	(Principal Executive, Financial and	 	 
	 

	 	 	 	Accounting Officer)	 	 

 

3PROMISSORY NOTE

EXHIBIT 10.31

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS AND NEITHER SUCH SECURITY NOR ANY INTEREST THEREIN MAY BE OFFERED. IT MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, OR HYPOTHICATED EXCEPT IN COMPLIANCE WITH RULE 144 UNDER SAID ACT OR AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL FOR THE HOLDER, SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION IS NOT REQUIRED.

PROMISSORY NOTE

		
	$32,000 USD

	March 25, 2008

ABVIVA, INC., a company duly organized and existing under the laws of the State of Nevada (the “Company”) with its principal place of business at 10940 Wilshire Blvd, Suite 600, Los Angeles, California 90024, for value received, hereby promises to pay to the order of Mr. Robert F. Lutz of 8322 West Tonto Lane, Peoria, Arizona 85382 (the “Holder”) the principal sum of Fifty Thousand Dollars ($32,000) pursuant to the terms set forth herein..

1.

Principal Payment.  All outstanding principal and interest under this Note shall be due and payable 90 (Ninety) days from the date of the closing on June 16, 2008.   

2.

Interest Payment.  The unpaid principal amount of this Note shall accrue interest (computed on the basis of a 365-day year) until paid in full at the annual rate of 18%. 

3.

Maturity Date.

The Principal and all accrued unpaid interest shall be repaid on or before June 18, 2008.

4.

Incentive Shares.  Concurrently with the execution hereof the Company has issued the Holder 200,000 shares of the Company’s common stock (the “Shares”).  The certificate representing the Shares will contain a standard restrictive legend.  The Shares are subject to piggyback registration rights.  If at any time the Company prepays and files one or more registration statements under the Act with respect to a public offering of its common stock (other than a registration statement on Forms S-4, S-8, or similar form) the Company will include in the registration statement information as is required, to permit a public offering of the Shares.  The Company will bear all fees and expenses other than the fees and expenses of holder’s counsel incurred in the preparation and filing of a registration statement and related state registrations, to the extent permitted by applicable law, and the furnishing of copies of the preliminary and final prospectus.  In connection with filing of a registration statement, holder may be required to furnish certain information and must agree to indemnify the Company against any liabilities or damages, including liabilities arising under the Act, with respect to any information provided.

5.

Security.  This Note is unsecured.

6.

Waivers and Consents.  Maker hereby waives diligence, demand, presentment for payment, notice of non-payment, protest and notice of protest, and specifically consents to and waives notice of any renewals or extensions of this Note, whether made to or in favor of Maker or any other person or persons.  Each expressly waives the pleading of any statute of limitations as a defense to any demand against Maker and all of said parties to the fullest extent permitted by law.  The waiver by Payee of any breach or violation of, or default under, any provision of this Note shall not be a waiver by such party of any other provision or of any subsequent breach or violation of this Note or default hereunder.

7.

Governing Law.  This Note is governed by and is to be construed and enforced in accordance with the laws of the State of California.  Any litigation or arbitration between the parties, which arises out of this Note, shall be instituted and prosecuted only in the appropriate California or Federal court, or other tribunal, situated in or near Los Angeles, California.  The parties hereto each specifically submits to the exclusive jurisdiction of such courts for purposes of any such action and the enforcement of any judgment or order arising there from.  The parties hereto each waive any right to a change of venue and any and all objections to the jurisdiction of the California courts.  Notwithstanding the foregoing, the Payee may take such actions in a foreign jurisdiction which the Payee deems necessary and appropriate to enforce or collect any court judgment in any dispute arising out of this Note or to seek and obtain other relief as is necessary to enforce the terms of this Note.

8.

Default.  In the event that (a) the Company fails to make payment of the principal hereunder when due and does not cure such failure within five (5) days after receipt by the Company of written notice of such failure from one or more of the holders of the Note, or (b) files a petition for protection under any bankruptcy or insolvency law (a “Default”) then, in any such case, all outstanding amounts hereunder may be declared due and payable by the holder hereof, and upon such declaration shall become due and payable.

9.

Miscellaneous.  The Company agrees to pay the following costs, expenses, and attorneys' fees paid or incurred by any holder of this Note, or adjudged by a Court:  (a) all costs of collection, costs, expenses, and attorneys' fees paid or incurred in connection with the collection or enforcement of this Note if Payee is the prevailing party, whether or not suit is filed; and (b) costs of suit and such other sum as the Court may adjudge as attorneys' fees in an action to enforce payment of this Note or any part of it.

IN WITNESS WHEREOF, this Note has been executed and delivered as of the date first above written by the duly authorized representative of the Company.   

ABVIVA, INC.

10940 Wilshire Blvd., Suite 600

Los Angeles, California 90024

   

By: /s/ Douglas Lane

Douglas C. Lane

Chairman and Chief Executive Officer

Mr. Robert F. Lutz Promissory Note Page 1 March 25, 2008

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