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EXHIBIT 10.16
Bioanalytical Systems, Inc. Bank One, Lafayette, NA
2701 Kent Ave. 201 Main Street
West Lafayette, IN 47906 Lafayette, IN 47901
DEBTOR'S NAME, ADDRESS AND SOC. SEC. OR TAXPAYER I.D. NO. SECURED PARTY'S NAME AND ADDRESS
("I" means each Debtor who Signs) ("You" means Secured Party its successors and assigns)
I am entering into this security agreement with you on April 22, 1991.
SECURITY INTEREST AND COLLATERAL. To secure (check one):
[x] the payment and performance of each and every debt, liability and
obligation of every type and description, except in those cases listed in
the "SECURED OBLIGATIONS" paragraph on the reverse side, which
Bioanalytical Systems, Inc. may now or at any time hereafter owe to you
(whether such debt, liability or obligation now exists or is hereafter
created or incurred, and whether it is or may be direct or indirect, due or
to become due, absolute or contingent, primary or secondary, liquidated
or unliquidated, or joint, several or joint and several);
[ ] the debt, liability or obligation of ____________________________________
____________________ to you evidenced by the following:
___________________________________________________ and any extensions,
renewals, refinancing, modifications or replacements thereof;
I give you a security interest in the property indicated below, whether l
own it now or may own it in the future, together with all parts, accessories,
repairs, improvements and accessions to the property, wherever it is located,
and all proceeds and products from the property.
[x] INVENTORY: All inventory which I hold for ultimate
sale or lease, or which has been or will
be supplied under contracts of service,
or which are raw materials, work in
process, or materials used or consumed in
my business.
[ ] EQUIPMENT: All equipment including, but not limited
to, all machinery, vehicles, furniture,
fixtures, manufacturing equipment, farm
machinery and equipment, shop equipment,
office and record keeping equipment, and
parts and tools. Any equipment described
in a list or schedule which l give to you
will also be included in the secured
property. but such a list is not
necessary for a valid security interest
in my equipment.
[ ] FARM PRODUCTS: All farm products including, but not
limited to:
(a) all poultry and livestock and their
young, along with their products and
produce;
(b) all crops, annual or perennial, and all
products of the crops; and
(c) all feed, seed, fertilizer,
medicines, and other supplies used or
produced in my farming operations.
[x] ACCOUNTS, INSTRUMENTS, DOCUMENTS, CHATTEL PAPER AND OTHER
RIGHTS TO PAYMENT:
All rights l have now or may have in the
future to the payment of money including,
but not limited to:
(a) payment for goods sold or leased
or for services rendered, whether or
not l have earned such payment by
performance; and
(b) rights to payment arising out
of all present and future debt
instruments, chattel paper and loans and
obligations receivable.
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The above include any rights and
interests (including all liens and
security interests) which l may have by
law or agreement against any account
debtor or obligor of mine.
[ ] GENERAL INTANGIBLES: All general intangibles including, but
not limited to, tax refunds, applications
for patents, patents, copyrights,
trademarks, trade secrets, good will,
trade names, customer lists, permits and
franchises, and the right to use my name.
[ ]
If this agreement covers timber to be cut, County: ___________________________________________
minerals (including oil and County gas), fixtures
or crops growing or to be grown, the legal Crop Year__________________________________________
description is:
_________________________________________________ I am a(n) [ ] Individual [ ] partnership
_________________________________________________ [x] corporation
_________________________________________________ [ ]____________________________________
_________________________________________________
_________________________________________________
[ ] If checked, file this agreement in the real
estate records.
Record Owner (if not me): _______________________ The property will be used for [ ] personal
_________________________________________________
_________________________________________________ [x] business [ ] agricultural
[ ] ____________________ reasons
I AGREE TO THE TERMS SET OUT ON THE FRONT AND BACK
OF THIS AGREEMENT. I have received a copy of this
document on today's date.
Bioanalytical Systems, Inc.
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Debtor's Name
By:\S\PETER T. KISSINGER
Bank One, Lafayette, NA -------------------------------------------------
--------------------------------- Title: President
Secured Party's Name --------------------------------------------
By:\S\MURRAY N. MARSHALL
----------------------------------------------- By:
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Title: Vice President
----------------------------------------------- Title:
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(C) 1986 BANKERS SYSTEMS, INC., ST. CLOUD, MN 56301 SECURITY AGREEMENT FORM SA
11/12/96
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