Notice of Non-Renewal of Line of Credit between Bioanalytical Systems Inc. and Entrepreneurial Growth Capital LLC
Bioanalytical Systems Inc. (BASi) formally notifies Entrepreneurial Growth Capital LLC (EGC) that it will not renew the $3,000,000 line of credit agreement set to expire on January 31, 2014. BASi requests that EGC's legal department begin the necessary termination paperwork. This letter serves as advance written notice of non-renewal, as required by the original agreement.
Wednesday, October 30, 2013
Mr. Charles Bert
Entrepreneurial Growth Capital LLC
505 Park Avenue
New York, New York 10022
Dear Charles,
Bioanalytical Systems Inc. (BASi) has been satisfied with our relationship with EGC with regard to the $3,000,000 (three-million dollar) line of credit per the agreement entered into by both companies in January of 2010. Thank you.
With this letter, I would like to give you advance formal written notice of BASi’s non-renewal of this line of credit which expires on January 31, 2014. Could you please pass this notice on to your legal department so that we may initiate the paperwork for this termination?
Thank you for your assistance. If you have any questions, please feel free to call me at ###-###-####.
Sincerely,
/s/ Jacqueline M. Lemke
Jacqueline M. Lemke
President & CEO
Bioanalytical Systems, Inc.
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