Demand Promissory Note between Aura Systems, Inc. and Warren Breslow dated December 2, 2010

Contract Categories: Business Finance › Note Agreements
Summary

Aura Systems, Inc., through its CEO Melvin Gagerman, promises to repay Warren Breslow $350,000 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 December 2, 2010, and remains in force until the lender requests repayment.

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EX-10.53 3 ex53.htm ex53.htm
 
Exhibit 10.53
 
DEMAND PROMISSORY NOTE
 
 

 
 

 
 
$350,000                                                                           Date: December 2, 2010
 
 

 
 
FOR VALUE RECEIVED, the undersigned jointly and severally promise to pay to the order of Warren Breslow, the sum of Three Hundred Fifty Thousand Dollars and no/100 ($350,000.00), 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: December 2, 2010