Promissory Note Between National Lampoon, Inc. and Robert Levy Dated August 18, 2008
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Summary
National Lampoon, Inc. agrees to repay Robert Levy $100,000, with 7% annual interest, starting from August 18, 2008. The full amount is due by September 5, 2008. If legal action is needed to collect payment, National Lampoon, Inc. will also cover reasonable attorney fees and collection costs. The agreement is a straightforward loan arrangement between the two parties.
EX-10.7 7 f10q1008ex10vii_natlampoon.htm PROMISSORY NOTE IN THE AMOUNT OF $150,000 DATED AUGUST 21, 2008 AND EXECUTED BY NATIONAL LAMPOON, INC. IN FAVOR OF ROBERT LEVY f10q1008ex10vii_natlampoon.htm
EXHIBIT 10.7
PROMISSORY NOTE
| AUGUST 18.2008 | LOS ANGELES, CALIFORNIA | $100.000.00 |
FOR VALUE RECEIVED, I PROMISE TO PAY TO THE ORDER OF ROBERT LEVY, AT 3550 WILSHIRE BOULEVARD, SUITE 840, LOS ANGELES, CALIFORNIA THE SUM OF ONE HUNDRED THOUSAND DOLLARS AND 00/100 ($100,000.00) IN LAWFUL MONEY OF THE UNITED STATES OF AMERICA, WITH INTEREST FROM AUGUST 18,2008, AT THE RATE OF 7% PER ANNUM UNTIL PAID. IN THE EVENT THERE IS A SUIT OR ACTION TO ENFORCE PAYMENT OF THIS NOTE OR ANY PORTION THEREOF, I PROMISE TO PAY SUCH ADDITIONAL SUM AS THE COURT MAY ADJUDGE REASONABLE AS ATTORNEY FEES IN SAID ACTION OR SUIT, AND BE MADE A PART OF THE JUDGMENT, OR IF PLACED IN THE HANDS OF ATTORNEYS FOR COLLECTION IF EFFECTUATED WITHOUT SUIT, I PROMISE TO PAY ALL COSTS AND EXPENSES INCLUDING REASONABLE ATTORNEY FEES.
DUE DATE
SEPTEMBERS 2008
