SEC Contract Filing

Filing Date: 2016-02-16

Document Content:
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>2
<FILENAME>negyex1033hislopnote.htm
<DESCRIPTION>EXHIBIT 10.33 - PROMISSORY NOTE ISSUED TO JOHN HISLOP, DATED OCTOBER 29, 2015
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<TITLE>Promissory Note issued to John Hislop, dated October 29, 2015</TITLE>
<META NAME="keywords" CONTENT="CW8342956.2">
<META NAME="author" CONTENT="Carolyn Laurin">
<META NAME="date" CONTENT="11/02/2015">
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<P style="margin:0px; padding-left:16px; padding-right:18px; font-family:Arial,Times New Roman; font-size:14pt" align=center><FONT style="background-color:#FFFFFF"><B><U>PROMISSORY NOTE</U></B></FONT></P>
<P style=margin-top:24.067px;margin-bottom:-1pt;font-size:1pt /><P style="margin-top:0px; margin-bottom:-2px; text-indent:16px; width:480px; font-family:Arial,Times New Roman; font-size:11pt; float:left"><FONT style="background-color:#FFFFFF">US$7,960.00</FONT></P>
<P style="margin:0px; padding-left:16px; text-indent:-2px; font-family:Arial,Times New Roman; font-size:11pt"><FONT style="background-color:#FFFFFF">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;October 29, 2015</FONT></P>
<P style="margin-top:24.067px; margin-bottom:0px; padding-left:16px; font-family:Arial,Times New Roman; font-size:11pt; clear:left" align=justify><FONT style="background-color:#FFFFFF">FOR VALUE RECEIVED, the undersigned, </FONT><FONT style="background-color:#FFFFFF"><B>NATION ENERGY INC.</B></FONT><FONT style="background-color:#FFFFFF"> (the &#147;</FONT><FONT style="background-color:#FFFFFF"><B>Borrower</B></FONT><FONT style="background-color:#FFFFFF">&#148;), promises to pay to the order of </FONT><FONT style="background-color:#FFFFFF"><B>JOHN R. HISLOP</B></FONT><FONT style="background-color:#FFFFFF"> (the &#147;</FONT><FONT style="background-color:#FFFFFF"><B>Lender</B></FONT><FONT style="background-color:#FFFFFF">&#148;) the principal sum of </FONT><FONT style="background-color:#FFFFFF"><B>SEVEN THOUSAND NINE HUNDRED AND SIXTY DOLLARS (US$7,960.00)</B></FONT><FONT style="background-color:#FFFFFF"> in lawful currency of the United States (the &#147;</FONT><FONT style="background-color:#FFFFFF"><B>Principal Sum</B></FONT><FONT style="background-color:#FFFFFF">&#148;), together with interest thereon as herein provided.</FONT></P>
<P style="margin-top:24.067px; margin-bottom:0px; padding-left:16px; font-family:Arial,Times New Roman; font-size:11pt" align=justify><FONT style="background-color:#FFFFFF">The Principal Sum or such amount as shall remain outstanding from time to time and shall bear interest, thereon, calculated quarterly, not in advance, at a rate of </FONT><FONT style="background-color:#FFFFFF"><B>fifteen percent (15%) per annum</B></FONT><FONT style="background-color:#FFFFFF"> upon demand by the Lender, both before and after each of maturity, default and judgment commencing effective October 29, 2015. &nbsp;In the event of any partial repayment made on the Principal Sum, such payments shall be applied firstly towards accrued interest and then towards the Principal Sum.</FONT></P>
<P style="margin-top:24.067px; margin-bottom:0px; padding-left:16px; font-family:Arial,Times New Roman; font-size:11pt" align=justify><FONT style="background-color:#FFFFFF">The Principal Sum and all accrued and unpaid interest at the rate aforesaid will become due and payable on </FONT><FONT style="background-color:#FFFFFF"><B>October 29, 2022</B></FONT><FONT style="background-color:#FFFFFF"> (the &#147;</FONT><FONT style="background-color:#FFFFFF"><B>Term</B></FONT><FONT style="background-color:#FFFFFF">&#148;). &nbsp;Extension of time of payment of all or any part of the amount owing hereunder at any time or times and failures of the Lender to enforce any of their rights or remedies hereunder shall not release the Borrower from its obligations hereunder or constitute a waiver of the rights of the Lender to enforce any rights and remedies therein.</FONT></P>
<P style="margin-top:24.067px; margin-bottom:0px; padding-left:16px; font-family:Arial,Times New Roman; font-size:11pt" align=justify><FONT style="background-color:#FFFFFF">On default in payment of any sum due hereunder for the Principal Sum or interest or after 15 days&#146; notice of Default to the Borrower, the unpaid balance of the Principal Sum and all accrued interest thereon shall at the option of the Lender forthwith become due and payable.</FONT></P>
<P style="margin-top:24.067px; margin-bottom:0px; padding-left:16px; font-family:Arial,Times New Roman; font-size:11pt" align=justify><FONT style="background-color:#FFFFFF">This Promissory Note shall be governed by the laws of the Province of British Columbia.</FONT></P>
<P style="margin-top:24.067px; margin-bottom:0px; padding-left:16px; font-family:Arial,Times New Roman; font-size:11pt" align=justify><FONT style="background-color:#FFFFFF">The undersigned will have the privilege of prepaying in whole or in part the Principal Sum and accrued interest.</FONT></P>
<P style="margin-top:24.067px; margin-bottom:0px; padding-left:16px; font-family:Arial,Times New Roman; font-size:11pt" align=justify><FONT style="background-color:#FFFFFF">Presentment, protest, notice of protest and notice of dishonour are hereby waived.</FONT></P>
<P style="margin-top:24.067px; margin-bottom:0px" align=justify><BR></P>
<P style="line-height:12.5pt; margin-top:15.533px; margin-bottom:0px; padding-left:16px; padding-right:58.867px; text-indent:320px; font-family:Arial,Times New Roman; font-size:11pt" align=justify><FONT style="background-color:#FFFFFF"><B>NATION ENERGY INC.</B></FONT></P>
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