Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - Inotiv, Inc. | v193536_10q.htm |
| EX-32.1 - EX-32.1 - Inotiv, Inc. | v193536_ex32-1.htm |
| EX-10.1 - EX-10.1 - Inotiv, Inc. | v193536_ex10-1.htm |
| EX-10.5 - EX-10.5 - Inotiv, Inc. | v193536_ex10-5.htm |
| EX-10.2 - EX-10.2 - Inotiv, Inc. | v193536_ex10-2.htm |
| EX-31.1 - EX-31.1 - Inotiv, Inc. | v193536_ex31-1.htm |
| EX-31.2 - EX-31.1 - Inotiv, Inc. | v193536_ex31-2.htm |
August 9,
2010
Bioanalytical
Systems, Inc.
2710 Kent
Avenue
West
Lafayette, Indiana 47906
Attn:
Michael R. Cox, VP Finance and Administration
Dear Mr.
Cox:
Incidental
to that certain Loan Agreement entered into by and between Bioanalytical
Systems, Inc. ("Borrower") and Regions Bank ("Bank") dated December 18, 2007
(such Loan Agreement, as amended, hereinafter referred to collectively as the
"Loan Agreement"), and subject to further conditions set forth herein, Bank
hereby waives Borrower's compliance with the Fixed Charge Coverage Ratio
covenant as set forth in Section 8(b) and the Total Liabilities to Tangible Net
Worth Ratio covenant as set forth in Section 10(e) of the Loan Agreement for the
period ending as of June 30, 2010.
The
waiver of Borrower's compliance with the financial covenant as set forth above
constitutes a singular waiver and shall not be deemed to be or to imply Bank's
waiver of Borrower's strict compliance with the terms and provisions of the Loan
Agreement. The waiver contained herein is also subject to receipt by Bank of
such additional documentation as may be required by Bank to modify the Loan
Agreement and other related loan documents and to provide further security for
the loans from Bank to Borrower.
The
waiver granted herein shall not be deemed to create a course of conduct or
obligation upon Bank to waive Borrower's future non-compliance with any of the
terms or provisions as set forth in the Loan Agreement. No delay or omission of
Bank to exercise any right or power under the Loan Agreement shall impair such
right or power or be construed as a waiver of any default or as an acquiescence
except as expressly set forth herein. All waivers of Borrower's noncompliance
with the terms and provisions of the Loan Agreement shall not be valid unless in
writing and signed by Bank, and then only to the extent specifically set forth
in such writing.
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Sincerely,
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REGIONS
BANK
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By:
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/s/ Michael F. Zingraf | |
| Michael F. Zingraf, Senior Vice President | |||