DEMAND NOTEDemand Note • September 4th, 2008 • Granahan McCourt Acquisition CORP • Radio & tv broadcasting & communications equipment
FOR VALUE RECEIVED, the undersigned, Granahan McCourt Acquisition Corporation, a Delaware corporation (the “Borrower”), hereby unconditionally promises to pay, as provided below, to David C. McCourt (the “Lender”), the principal sum of Nine-Hundred Thousand Dollars ($900,000), by wire transfer of immediately available funds. No interest shall accrue on the unpaid principal balance of this Demand Note. Capitalized terms used and not defined herein shall have the meanings set forth in Borrower’s fourth amended and restated certificate of incorporation.
