Demand Promissory Note between Aura Systems, Inc. and Warren Breslow dated October 19, 2012

Contract Categories: Business Finance › Note Agreements
Summary

Aura Systems, Inc., through its CEO Melvin Gagerman, promises to repay Warren Breslow $250,000 with 10% annual interest. The full amount, including any accrued interest, is due immediately upon demand by the lender. This agreement is effective as of October 19, 2012, and creates a binding obligation for Aura Systems, Inc. to pay back the loan whenever requested by Warren Breslow.

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EX-10.81 7 breslow101912.htm breslow101912.htm
 
 
 


 
DEMAND PROMISSORY NOTE
 
 
Exhibit 10.81

 

 
 

 
 
$250,000                                                                           Date:  October 19, 2012
 
 

 
 
FOR VALUE RECEIVED, the undersigned jointly and severally promise to pay to the order of Warren Breslow, the sum of Two Hundred Fifty Thousand Dollars and no/100 ($250,000.00), together with interest of 10% per annum on the unpaid balance.
 
 
The entire principal and any accrued interest shall be fully and immediately payable UPON DEMAND of any holder thereof.
 
 

 
 
 
 
 
 
”Borrower”
 
Aura Systems, Inc.



____________________
Melvin Gagerman
Chief Executive Officer

 
Dated: October 19, 2012