Demand Promissory Note between Aura Systems, Inc. and Warren Breslow dated August 27, 2009

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 August 27, 2009, and is a binding obligation on Aura Systems, Inc. until the debt is repaid.

Read More Arrow
EX-10.38 13 ex38.htm ex38.htm
 
Exhibit 10.38
 
DEMAND PROMISSORY NOTE
 
 

 
 

 
 
$500,000                                                                                     Date: August 27, 2009
 
 

 
 
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: August 27, 2009