EX-10.40
from 8-K
9 pages
Datametrics Corporation, a Delaware Corporation (“Borrower”), for Value Received, Hereby Promises to Pay on Demand to the Order of the Philip S. Sassower 1996 Charitable Remainder Annuity Trust and Jag Multi Investments, LLC, a Delaware Limited Liability Company (The “Payees”), the Principal Sum, Which Shall Be an Amount Equal to the Amount Drawn Upon Under Those Certain Letters of Credit (The “Letters”) Dated of Even Date Hereof by Jag Multi Investments, LLC and Philip S. Sassower in Favor of Comerica Bank (“Comerica”), Up to a Maximum of Five Hundred Thirty Five Thousand Dollars ($535,000) (The “Principal Amount”), Together With Interest on the Unpaid Principal Amount From the Date That the Principal Amount Becomes Payable, Which Such Date Shall Be the Date of the Drawdown by Comerica Pursuant to the Letters (The “Accrual Date”), at a Per Annum Rate Equal to Ten Percent (10%), in Lawful Money of the United States. 1. Payment Terms
12/34/56