DEMAND PROMISSORY
NOTE
$________.00
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As
of March 16, 2009
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FOR VALUE
RECEIVED, BBM Holdings, Inc., a corporation organized and existing under the
laws of the State of Utah, hereby promises to pay to the order of
AIGH Investment Partners, LLC, a limited liability company organized and
existing under the laws of the State of Delaware, the sum of ______ THOUSAND
DOLLARS ($__,000.00), with interest at the rate of eight percent (8%) per annum
upon the unpaid balance from time to time outstanding from the date set forth
above, same being payable in lawful money of the United States of
America.
This Note
shall be paid in full upon written demand therefor made by the holder thereof.
The principal of and accrued interest on this Note may be prepaid in whole or in
part at any time and from time to time without penalty or
premium. Any payments not made when due shall be subject to interest
at the rate of 15 percent (15%) per annum upon the unpaid balance from time to
time outstanding from the date set forth above. Notwithstanding
anything set forth herein to the contrary, in no event shall the interest
payable hereunder be higher than the maximum amount permitted under applicable
law.
The
undersigned agrees to pay all filing fees and similar charges and all costs
incurred by the holder hereof in collecting or securing or attempting to collect
or secure this Note, including reasonable attorney's fees. The undersigned shall
be responsible for the payment of any documentary stamp taxes which may now or
hereafter apply to this Note.
In any
action or proceeding brought in connection with this Note, the undersigned
hereby: (a) waives demand, presentment, protest, notice of dishonor, suit
against or joinder of any other person, and all other requirements necessary to
charge or hold the undersigned liable with respect to the loan evidenced hereby;
(b) submits to the jurisdiction of the state and federal courts in the State of
New York for purposes of any such action or proceeding; and (c) agrees that the
venue of any such action or proceeding may be laid in New York County, New York
and waives any claim that the same is an inconvenient forum. No provision of
this Note shall limit the holder's right to serve legal process in any other
manner permitted by law or to bring any such action or proceeding in any other
competent jurisdiction. This Note shall be governed by, and construed and
enforced in accordance with, the laws of the State of New York.
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MAKER: |
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BBM HOLDINGS,
INC. |
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By:
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