DEBT CONVERSION AND LIEN TERMINATION AGREEMENTDebt Conversion and Lien Termination Agreement • February 6th, 2019 • Blonder Tongue Laboratories Inc • Radio & tv broadcasting & communications equipment • New Jersey
This Debt Conversion and Lien Termination Agreement (this “Agreement”) is made and entered into as of January 24, 2019 by and among by and between Blonder Tongue Laboratories, Inc., a Delaware corporation (the “Company”), R.L. Drake Holdings, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company (“Drake” and, collectively with the Company, “Borrower”), Robert J. Pallé (“RJP”) and Carol M. Pallé (collectively, “Initial Lenders”), and Steven L. Shea, and James H. Williams (collectively, the “Supplemental Lenders”; and together with the Initial Lenders, collectively, the “Lenders”), and Robert J. Pallé, as Agent for the Lenders (in such capacity, the “Agent”). Capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Loan Agreement (defined below).
CONSENT UNDER LOAN AND SECURITY AGREEMENTLoan and Security Agreement • February 6th, 2019 • Blonder Tongue Laboratories Inc • Radio & tv broadcasting & communications equipment • New York
This CONSENT UNDER LOAN AND SECURITY AGREEMENT (this “Consent”) is dated as of February 1, 2019, and is entered into by and among BLONDER TONGUE LABORATORIES, INC., a Delaware corporation (“Parent”), R. L. DRAKE HOLDINGS, LLC, a Delaware limited liability company (“Drake”, together with Parent, collectively the “Borrowers”), BLONDER TONGUE FAR EAST, LLC, a Delaware limited liability company (“Far East”, together with the Borrowers, collectively the “Credit Parties” and each a “Credit Party”), the Lenders party hereto, and STERLING NATIONAL BANK, a national banking association, as administrative and collateral agent (in such capacity, and including its successors and permitted assigns, the “Administrative Agent”) for the Lender Parties.
