Exhibit 4.2
Phoenix International Ventures,
Inc.
“Promissory Note Extension
Agreement”
|
NOTE
AMOUNT
|
_________ U.S. Dollar
|
|
ISSUANCE
DATE
|
_________, 2009
|
|
MATURITY
DATE
|
_________, 2010
|
FOR VALUE RECEIVED, Phoenix International
Ventures, Inc. , a Nevada Corporation (OTC BB:
PIVN) hereby promises to pay _______________. (the
“ Holder ”) on July 20, 2010 (the
“Maturity Date”), or earlier, the Note Amount of
__________ ($________) Dollars U.S. plus accrued and unpaid
interest thereon, in such amounts, at such times and on such terms
and conditions as are specified herein. The Company, and the Holder
are sometimes hereinafter collectively referred to as the “
Parties ” and each a “ Party ” to
this Promissory Note Extension Agreement (the
“Agreement”).
WHEREAS, on ____________ 2008, the Company
accepted financing from the Holder, for working capital needs, in
the Note Amount set forth above, which is due to mature on
_________, 2009 (the “Old Note”); and
WHEREAS, the Holder and the Company desire to
extend the maturity of the Old Note upon the terms and conditions
set forth in this Agreement.
In consideration of the above recitals, the
terms and covenants of this Agreement and other good and valuable
consideration, including the payment of money from Holder to
Company, the receipt of which is hereby acknowledged to be the date
of is