Receivable Factoring Agreement Sample Contracts

FACE AMOUNT $695,000 INTEREST RATE 3.5% per month ISSUANCE DATE May 17, 2006 MATURITY DATE July 17, 2006

Receivable Factoring Agreement • August 14th, 2006 • Xtreme Companies Inc • Ship & boat building & repairing • Massachusetts

• Contract Type
  Receivable Factoring Agreement
• Filed
  August 14th, 2006
• Company
  Xtreme Companies Inc
• Industry
  Ship & boat building & repairing
• Jurisdiction
  Massachusetts

Receivable Factoring Agreement

Receivable Factoring Agreement • May 21st, 2007 • Challenger Powerboats, Inc. • Ship & boat building & repairing • Massachusetts

• Contract Type
  Receivable Factoring Agreement
• Filed
  May 21st, 2007
• Company
  Challenger Powerboats, Inc.
• Industry
  Ship & boat building & repairing
• Jurisdiction
  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.