Document:

Exhibit 10.9

 

PROMISSORY NOTE

 

	
  $65,000

  	
   

  	
  As of September 15, 2006

  
	
   

  	
   

  	
  New York, New York

  

 

TransTech Services
Partners Inc. (the “Maker”)
promises to pay to the order of LM Singh (the “Payee”) the principal sum of SIXTY-FIVE THOUSAND Dollars and
No Cents ($65,000.00) in lawful money of the United States of America, on the
terms and conditions described below.

 

1.                                       Principal. The principal balance of this
Note shall be repayable on the earlier of (i) January 31, 2008, or (ii) the
date on which Maker consummates an initial public offering of its securities
(the “Maturity Date”).

 

2.                                       Interest. This Note shall bear simple
interest at the rate of four percent (4%) per annum. Interest payable on this
Note shall be calculated on the basis of one year of three hundred sixty-five
(365) days for the number of days elapsed. All accrued interest and outstanding
principal shall be due and payable on the Maturity Date.

 

3.                                       Payment. The principal balance of this
Note may be prepaid in whole or in part at any time or from time to
time. Any prepayment of principal shall be accompanied by payment of all
accrued interest thereon.

 

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

 

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

 

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

 

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

 

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

 

 

6.                                       Remedies.

 

(a)                                  Upon the occurrence of an Event
of Default specified in Section 5(a), Payee may, by written notice to
Maker, declare this Note to be due and payable, whereupon the principal amount
of this Note, and all other amounts payable hereunder, shall become immediately
due and payable without presentment, demand, protest or other notice of any
kind, all of which are hereby expressly waived, anything contained herein or in
the documents evidencing the same to the contrary notwithstanding.

 

(b)                                 Upon the occurrence of an Event
of Default specified in Sections 5(b) and 5(c), the unpaid principal
balance of, and all other sums payable with regard to, this Note shall
automatically and immediately become due and payable, in all cases without any
action on the part of Payee.

 

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

 

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

 

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

 

If to Maker:

 

TransTech Services Partners Inc.

445 Fifth Avenue, Suite 30H

New York, New York 10016

Attention of Chief Executive Officer

Facsimile No.:  212-202-5479

 

2

 

If to Payee:

 

LM Singh

c/o 445 Fifth Avenue, Suite 30H

New York, New York 10016

Attention of Chief Executive Officer

Facsimile No.: 212-202-5479

 

Notice shall be deemed
given on the earlier of actual receipt by the receiving party, if sent by
certified mail, and (i) three business days after certification thereof, (ii) if
personally delivered, the date reflected on a signed delivery receipt, (iii) if
sent by private or governmental express mail or delivery service, one (1) business
day following tender of delivery or dispatch by express mail or delivery
service, (iv) if by facsimile, the date shown on a telefacsimile
transmission confirmation, or (v) if sent by email, the date on which an
e-mail transmission was received by the receiving party’s on-line access
provider.

 

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

 

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

 

3

 

IN WITNESS WHEREOF,
Maker, intending to be legally bound hereby, has caused this Note to be duly
executed the day and year first above written.

 

	
   

  	
  TRANSTECH
  SERVICES PARTNERS INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Suresh Rajpal

  	
   

  
	
   

  	
  Name:
  Suresh Rajpal

  
	
   

  	
  Title:
  Chief Executive Officer

  

 

4Exhibit 10.10

 

PROMISSORY NOTE

 

	
  $60,000

  	
   

  	
  As of September 15, 2006

  
	
   

  	
   

  	
  New York, New York

  

 

TransTech Services
Partners Inc. (the “Maker”)
promises to pay to the order of Suresh Rajpal (the “Payee”) the principal sum of SIXTY THOUSAND Dollars and No
Cents ($60,000.00) in lawful money of the United States of America, on the
terms and conditions described below.

 

1.                                       Principal. The principal balance of this
Note shall be repayable on the earlier of (i) January 31, 2008, or (ii) the
date on which Maker consummates an initial public offering of its securities
(the “Maturity Date”).

 

2.                                       Interest. This Note shall bear simple
interest at the rate of four percent (4%) per annum. Interest payable on this
Note shall be calculated on the basis of one year of three hundred sixty-five
(365) days for the number of days elapsed. All accrued interest and outstanding
principal shall be due and payable on the Maturity Date.

 

3.                                       Payment. The principal balance of this
Note may be prepaid in whole or in part at any time or from time to
time. Any prepayment of principal shall be accompanied by payment of all
accrued interest thereon.

 

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

 

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

 

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

 

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

 

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

 

 

6.                                       Remedies.

 

(a)                                  Upon the occurrence of an Event
of Default specified in Section 5(a), Payee may, by written notice to
Maker, declare this Note to be due and payable, whereupon the principal amount
of this Note, and all other amounts payable hereunder, shall become immediately
due and payable without presentment, demand, protest or other notice of any
kind, all of which are hereby expressly waived, anything contained herein or in
the documents evidencing the same to the contrary notwithstanding.

 

(b)                                 Upon the occurrence of an Event
of Default specified in Sections 5(b) and 5(c), the unpaid principal
balance of, and all other sums payable with regard to, this Note shall
automatically and immediately become due and payable, in all cases without any
action on the part of Payee.

 

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

 

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

 

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

 

If to Maker:

 

TransTech Services Partners Inc.

445 Fifth Avenue, Suite 30H

New York, New York 10016

Attention of Chief Executive Officer

Facsimile No.:  212-202-5479

 

2

 

If to Payee:

 

Suresh Rajpal

c/o 445 Fifth Avenue, Suite 30H

New York, New York 10016

Attention of Chief Executive Officer

Facsimile No.: 212-202-5479

 

Notice shall be deemed
given on the earlier of actual receipt by the receiving party, if sent by
certified mail, and (i) three business days after certification thereof, (ii) if
personally delivered, the date reflected on a signed delivery receipt, (iii) if
sent by private or governmental express mail or delivery service, one (1) business
day following tender of delivery or dispatch by express mail or delivery
service, (iv) if by facsimile, the date shown on a telefacsimile
transmission confirmation, or (v) if sent by email, the date on which an
e-mail transmission was received by the receiving party’s on-line access
provider.

 

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

 

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

 

3

 

IN WITNESS WHEREOF,
Maker, intending to be legally bound hereby, has caused this Note to be duly
executed the day and year first above written.

 

	
   

  	
  TRANSTECH
  SERVICES PARTNERS INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Suresh Rajpal

  	
   

  
	
   

  	
  Name:
  Suresh Rajpal

  
	
   

  	
  Title:
  Chief Executive Officer

  

 

4

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