DEBENTURE AGREEMENTDebenture Agreement • May 21st, 2007 • Challenger Powerboats, Inc. • Ship & boat building & repairing • Massachusetts
THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF SUCH LAWS. THE SECURITIES ARE SUBJECT TO RESTRICTIONS OF TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER SUCH LAWS PURSUANT TO REGISTRATION OR AN EXEMPTION THEREFROM. THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR ANY OTHER REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THE OFFERING MATERIALS. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.
Receivable Factoring AgreementChallenger Powerboats, Inc. • May 21st, 2007 • Ship & boat building & repairing • Massachusetts
FOR VALUE RECEIVED, Challenger Offshore, Inc., a Nevada corporation (the “Company”), (OTC BB: XTME) hereby promises to pay DUTCHESS PRIVATE EQUITIES FUND, LTD. (the “Holder”) by April 26, 2007 (the “Maturity Date”), or earlier, the Face Amount of One Hundred and Twenty thousand dollars ($120,000) U.S., plus accrued interest, in such amounts, at such times and on such terms and conditions as are specified herein.
Purchase Order Financing AgreementFinancing Agreement • May 21st, 2007 • Challenger Powerboats, Inc. • Ship & boat building & repairing • Massachusetts
FOR VALUE RECEIVED, Challenger Offshore, Inc., a Nevada corporation (the “Company”), (OTC BB: EXCS) hereby promises to pay DUTCHESS PRIVATE EQUITIES FUND, LTD. (the “Holder”) by April 26, 2007 (the “Maturity Date”), or earlier, the Face Amount of One Hundred and Eighty Thousand dollars ($180,000) U.S., plus accrued interest, in such amounts, at such times and on such terms and conditions as are specified herein.
Purchase Order Financing AgreementPurchase Order Financing Agreement • May 21st, 2007 • Challenger Powerboats, Inc. • Ship & boat building & repairing • Massachusetts
FOR VALUE RECEIVED, Challenger Offshore, Inc., a Nevada corporation (the “Company”), (OTC BB: CPWB) hereby promises to pay DUTCHESS PRIVATE EQUITIES FUND, LTD. (the “Holder”) by May 3, 2007 (the “Maturity Date”), or earlier, the Face Amount of One Hundred and Fifty Thousand dollars ($150,000) U.S., plus accrued interest, in such amounts, at such times and on such terms and conditions as are specified herein.
