EXHIBIT 10.13
PROMISSORY NOTE TO
LINDA NYE
THE SECURITIES
REPRESENTED BY THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933 (THE “ ACT ”) OR
APPLICABLE STATE SECURITIES LAWS (THE “ STATE ACTS
”), AND SHALL NOT BE SOLD, PLEDGED, HYPOTHECATED, DONATED, OR
OTHERWISE TRANSFERRED (WHETHER OR NOT FOR CONSIDERATION) BY THE
HOLDER EXCEPT UPON THE ISSUANCE TO THE CORPORATION OF A FAVORABLE
OPINION OF ITS COUNSEL OR SUBMISSION TO THE CORPORATION OF SUCH
OTHER EVIDENCE AS MAY BE SATISFACTORY TO COUNSEL FOR THE
CORPORATION, TO THE EFFECT THAT ANY SUCH TRANSFER SHALL NOT BE IN
VIOLATION OF THE ACT AND THE STATE ACTS.
WORLDWIDE STRATEGIES
INCORPORATED
A Nevada
Corporation
April 6, 2009
WORLDWIDE STRATEGIES INCORPORATED, a Nevada
corporation (the “ Corporation ”), is indebted
and, for value received, promises to pay to the order of MRS.
LINDA NYE , on June 30, 2009 (the “ Due
Date ”), (unless this Note shall have been sooner prepaid
as herein provided), upon presentation of this Note, Ten
Thousand Dollars ($10,000.00) (the “ Principal
Amount ”) and to pay interest on the Principal Amount at
the rate of nine percent (9%) per annum as provided herein until
this Note is paid in full.
The Corporation
covenants, promises and agrees as follows:
1.
Interest. Interest that shall accrue on the
Principal Amount shall be payable on the Due Date
.
2.
Prepayment. The Corporation may prepay this Note
without notice by paying to the Holder the entire outstanding
Principal Amount and all accrued but unpaid interest on this
Note.
3.1. The
entire unpaid and unredeemed balance of the Principal Amount and
all Interest accrued and unpaid on this Note shall, at the election
of the Holder, be and become immediately due and payable upon the
occurrence of any of the following events (a “ Default
Event ”):
(a) The
non-payment by the Corporation when due of principal and interest
as provided in this Note or with respect to any other Note issued
by the Corporation.
(b) If
the Corporation (i) applies for or consents to the appointment of,
or if there shall be a taking of possession by, a receiver,
custodian, trustee or liquidator for the Corporation or any of its
property; (ii) becomes generally unable to pay its debts as they
become due; (iii) makes a general assignment for the benefit of
creditors or becomes insolvent; (iv) files or is served with any
petition for relief under the Bankruptcy Code or any similar
federal or state statute; (v) has any judgment entered against it
in excess of $3,000,000 in any one instance or in the aggregate
during any consecutive 12 month period or has any
