Demand Promissory Note between Aura Systems, Inc. and Warren Breslow dated August 25, 2011
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Summary
Aura Systems, Inc., through its CEO Melvin Gagerman, promises to pay Warren Breslow $250,000 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 25, 2011, and creates a binding obligation for Aura Systems, Inc. to repay the loan whenever requested by Warren Breslow.
EX-10.62 5 exhibit1062.htm exhibit1062.htm
Exhibit 10.62
DEMAND PROMISSORY NOTE
$250,000 Date: August 25, 2011
FOR VALUE RECEIVED, the undersigned jointly and severally promise to pay to the order of Warren Breslow, the sum of Two Hundred Fifty Thousand Dollars and no/100 ($250,000.00), 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 25, 2011
