Promissory Note between Seawright Holdings, Inc. and Next Generation Media Corporation

Contract Categories: Business Finance › Note Agreements
Summary

Seawright Holdings, Inc. promises to pay Next Generation Media Corporation $125,000, plus 6% annual interest, within 24 months from March 25, 2010. If legal action is needed to enforce payment, Seawright Holdings, Inc. also agrees to cover reasonable attorney fees. The agreement is signed by Seawright Holdings' CEO, Joel Sens.

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EX-10.10 2 ex10-10.htm EXHIBIT 10.10 ex10-10.htm

Exhibit 10.10
 
PROMISSORY NOTE
 
For value received, the undersigned, Seawright Holdings, Inc., a Delaware Corporation, with an address of 600 Cameron Street, Alexandria, Virginia 22314, promises to pay to the order of Next Generation Media Corporation, a Nevada corporation, with an address of 7644 Dynatech Court, Springfield, Virginia 22153, the sum of ONE HUNDRED AND TWENTY-FIVE THOUSAND DOLLARS AND 00/100 ($125,000.00), on or before twenty-four (24) months from and after the date hereof with interest at SIX (6%) PERCENT per annum.
 
The undersigned further agrees to pay reasonable attorney fees if for any reason legal action is necessary for enforcement of this note.
 
Dated: this 25th day of March, 2010.
 
 
 
SEAWRIGHT HOLDINGS, INC.
   
 
_______________________________
 
By Joel Sens, Chief Executive Officer