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Trademark Security Agreement

This is an actual contract by Bioanalytical Systems.

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Sectors: Biotechnology / Pharmaceuticals
Effective Date: October 29, 2002
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Exhibit 10.12

TRADEMARK SECURITY AGREEMENT

THIS TRADEMARK SECURITY AGREEMENT (" Security Agreement "), dated October 29, 2002 is made by and between BIOANALYTICAL SYSTEMS, INC., an Indiana corporation (the " Borrower ") and THE PROVIDENT BANK (the " Bank ");

WITNESSETH:

WHEREAS, pursuant to a certain Credit Agreement executed between the Borrower and the Bank dated as of October 29, 2002 (as the same may be amended from time to time, the " Credit Agreement"), the Bank has agreed to make certain loans and to provide other financial accommodations to the Borrower; and

WHEREAS, in connection with the Credit Agreement, the Borrower has executed and delivered to the Bank, a certain General Security Agreement dated as of October 29, 2002 (as the same may be hereafter amended or modified, the " General Security Agreement"); and

WHEREAS, in order to perfect the Bank's security interest granted under the General Security Agreement, the Borrower is required to execute and deliver this Security Agreement;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Borrower hereby grants to the Bank a continuing security interest in the Trademark Collateral listed on Schedule 1 hereto, to secure payment, performance and observance of the Obligations; and the Borrower further agrees as follows:

1. Definitions . Terms used herein, and not specifically herein defined, shall have the meanings ascribed to them in the General Security Agreement or, by re
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