Demand Promissory Note between Aura Systems, Inc. and Warren Breslow dated December 18, 2007

Contract Categories: Business Finance › Note Agreements
Summary

Aura Systems, Inc., through its CEO Melvin Gagerman, promises to pay Warren Breslow $500,000 plus 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 18, 2007, and creates a binding obligation for Aura Systems, Inc. to repay the loan whenever requested by Warren Breslow.

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EX-10.27 2 ex27.htm ex27.htm
 
Exhibit 10.27
 
DEMAND PROMISSORY NOTE
 
 

 
 

 
 
$500,000                                                                           Date: December 18, 2007
 
 

 
 
FOR VALUE RECEIVED, the undersigned jointly and severally promise to pay to the order of Warren Breslow, the sum of Five Hundred Thousand Dollars and no/100 ($500,000.00), 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 18, 2007