Demand Promissory Note between Aura Systems, Inc. and Warren Breslow dated August 12, 2011

Contract Categories: Business Finance › Note Agreements
Summary

Aura Systems, Inc., through its CEO Melvin Gagerman, promises to pay Warren Breslow $225,000 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 12, 2011, and both the company and its signatory are jointly responsible for repayment.

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EX-10.61 4 exhibit1061.htm exhibit1061.htm
 
 
 


 
Exhibit 10.61
 
DEMAND PROMISSORY NOTE
 
 

 
 

 
 
$225,000                                                                                     Date:  August 12, 2011
 
 

 
 
FOR VALUE RECEIVED, the undersigned jointly and severally promise to pay to the order of Warren Breslow, the sum of Two  Hundred Twenty Five Thousand Dollars and no/100 ($225,000.00), 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 12, 2011