Promissory Note Payable between Entest Biomedical, Inc. and Regen Biopharma, Inc.
Entest Biomedical, Inc. promises to repay Regen Biopharma, Inc. $2,222 with 10% annual interest. The full amount, or any part of it, is due upon demand by Regen Biopharma or any subsequent holder. The note can be assigned to third parties at Regen Biopharma’s discretion. The agreement is governed by California law, and any disputes will be handled in San Diego courts. Both companies are Nevada corporations, and the note was signed on June 6, 2014.
Exhibit 10.1
PROMISSORY NOTE PAYABLE
FOR VALUE RECEIVED, Entest Biomedical, Inc., a Nevada corporation (“Debtor’) , hereby promises to pay to the order of Regen Biopharma, Inc., a Nevada corporation, the sum of Two Thousand Two Hundred and Twenty Two ($2,222 ) Dollars, together with simple interest thereon at the rate of 10 % per annum on the unpaid balance. Said sum shall be paid in the manner following:
Principal and/or accrued interest due hereunder shall be due and Payable , in whole or in part, at the demand of the Holder. This Note may be assigned to any third party, in whole or in part, at the sole option of Regen Biopharma, Inc. or any Holder in due course.
This Note shall be governed by and interpreted in accordance with the laws of the State of California without regard to the principles of conflicts of law. Each of the Debtor and the Holder and any Holder in due course hereby submit to the exclusive jurisdiction of the United States Federal and state courts located in San Diego , California with respect to any dispute arising under this Note.
Signed and sealed under penalty of perjury this 6th day of June, 2014.
ENTEST BIOMEDICAL INC.
By: /s/David Koos
Its:CEO
ACCEPTED BY REGEN BIOPHARMA INC.
By: /s/David Koos
Its: CEO
