Demand Promissory Note between Aura Systems, Inc. and Warren Breslow dated June 1, 2012

Contract Categories: Business Finance › Note Agreements
Summary

Aura Systems, Inc., through its CEO Melvin Gagerman, promises to pay Warren Breslow $300,000 with 10% annual interest. The full amount, including any accrued interest, is due immediately upon demand by the lender. This is a joint and several obligation, meaning all signers are fully responsible for repayment. The agreement is effective as of June 1, 2012.

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EX-10.74 5 note060112.htm note060112.htm
 
 
 


 
Exhibit 10.74

 
DEMAND PROMISSORY NOTE
 
 

 
 

 
 
$300,000                                                                           Date:  June 1, 2012
 
 

 
 
FOR VALUE RECEIVED, the undersigned jointly and severally promise to pay to the order of Warren Breslow, the sum of Three Hundred Thousand Dollars and no/100 ($300,000.00), 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: June 1, 2012