Item 1.01 Entry into a Material Definitive Agreement.

On March 27, 2020 Bioanalytical Systems, Inc. (the "Company") entered into an amendment (the "Amendment") to its Amended and Restated Credit Agreement with First Internet Bank of Indiana, dated December 1, 2019. Among other things, the Amendment modified the definition of Adjusted EBITDA, including for purposes of covenant calculations. As amended, the calculation of Adjusted EBITDA includes (i) the addition of a decreasing amount of proforma EBITDA from Pre-Clinical Research Services, Inc. (which the Company acquired in the first quarter of fiscal 2020) for each quarter of fiscal 2020 and (ii) the addition or subtraction of certain non-cash expenses or income recognized. The Amendment also reflects the modification of the Company's Initial Capex Line (as described in the Company's Form 10-Q for the period ended December 31, 2019) in the form of a term loan note with a principal balance of $948,368.61 equal to the amount that remained outstanding under the Initial Capex Line and an extended maturity through June 30, 2025 (the "Note"). The Note calls for interest on the principal balance outstanding from time to time at a fixed per annum rate equal to 4.00%, with interest only payments due monthly through July 30, 2020. Commencing August 1, 2020, and on the first day of each monthly period thereafter until and including on the maturity date, the Note requires payments of principal and interest in monthly installments equal to $17,491.84.

The foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which will be filed with the Company's Form 10-Q for the quarterly period ended March 31, 2020.

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