TERM NOTE
$17,100,001.18 November 12, 1999
FOR VALUE RECEIVED, BLONDER TONGUE LABORATORIES, INC., a Delaware
corporation (the "Borrower"), hereby promises to pay to the order of FIRST UNION
NATIONAL BANK (the "Bank") the principal amount of Seventeen Million, One
Hundred Thousand, One Dollar and Eighteen Cents ($17,100,001.18). This Term Note
is issued under the Fifth Amended and Restated Loan Agreement dated November 12,
1999 by and between the Borrower and the Bank, as may be further amended,
modified or restated from time to time (the "Loan Agreement"). Terms capitalized
but not defined herein shall have the meanings given to them respectively in the
Loan Agreement. The terms of the Loan Agreement are incorporated herein as if
set forth at length.
The Borrower hereby waives the requirements of demand, presentment,
protest, notice of protest and dishonor and all other demands or notices of any
kind in connection with the delivery, acceptance, performance, default, dishonor
or enforcement of this Note.
The construction, interpretation and enforcement of this Note shall be
governed by the internal laws of the State of New Jersey.
IN WITNESS WHEREOF, and intending to be legally bound hereby, the Borrower
has caused this Note to be executed by its duly authorized officer as of the day
and year first above written.
BLONDER TONGUE LABORATORIES, INC.
By: /s/Xxxxx Xxxxxxxx
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Xxxxx Xxxxxxxx
Chief Financial Officer
