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).
