GUARANTEE AND POSTPONEMENT OF CLAIMSGuarantee and Postponement of Claims Agreement • July 28th, 2006 • Pure Play Media Holdings, Inc. • California
AGREEMENT made August 15, 2003 by Pure Play Media Holdings, Inc. a Nevada Corporation, (the “Guarantors”) to and in favour of 1011225 Ontario Limited, and Ontario Corporation also known as AOV Distribution and /or OK Video (the “Creditor”) IN CONSIDERATION of the sum of $1.00 and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Guarantors agree with the Creditor as follows: 1. Guaranteed Obligations The Guarantors, jointly and severally, irrevocably and unconditionally guarantee the due and punctual payment of the Purchase Price and Promissory Note (collectively the “Guaranteed Obligations”) payable by Private North America and Software Entertainment Ltd. (the “Debtors”) to the Creditor in respect of transfer of inventory by the Creditor to the Debtors on August 15, 2003 under the terms of a Sale of Inventory Agreement between 1011225 Ontario Limited and Private North America, dated August 15, 2003. 2. Costs and Expense
