Blonder Tongue Laboratories, Inc, R. L. Drake Holdings, LLC, Blonder Tongue Far East LLC, Midcap Business Credit LLC Extend the Expiration Date of the Loan Agreement to October 28, 2022
October 01, 2022 at 01:55 am IST
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As previously disclosed, on October 25, 2019, Blonder Tongue Laboratories, Inc. (the Company), R. L. Drake Holdings, LLC, a wholly-owned subsidiary of the Company, Blonder Tongue Far East, LLC, a wholly-owned subsidiary of the Company and MidCap Business Credit LLC (MidCap) entered into a Loan and Security Agreement (All Assets) (the Original Agreement), which was subsequently amended by a Consent and Amendment to Loan Agreement and Loan Documents dated as of April 7, 2020 (the First Amendment), a Second Amendment to Loan Agreement dated as of January 8, 2021 (the Second Amendment), a Third Amendment to Loan Agreement dated as of June 14, 2021 (the Third Amendment), a Fourth Amendment to Loan Agreement dated as of July 30, 2021 (the Fourth Amendment), a Fifth Amendment to Loan Agreement dated as of August 26, 2021 (the Fifth Amendment), a Sixth Amendment to Loan Agreement dated as of December 16, 2021 (the Sixth Amendment, a Seventh Amendment to Loan Agreement dated as of February 11, 2022 (the Seventh Amendment), an Eighth Amendment to Loan Agreement dated as of March 3, 2022 (the Eighth Amendment), a Ninth Amendment to Loan Agreement dated as of April 5, 2022 (the Ninth Amendment), a Tenth Amendment to Loan Agreement dated as of May 5, 2022 (the Tenth Amendment), an Eleventh Amendment to Loan Agreement dated as of June 14, 2022 (the Eleventh Amendment) and a Twelfth Amendment to Loan Agreement, dated as of July 1, 2022 (Twelfth Amendment) together with the Original Agreement, the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment, the Sixth Amendment, the Seventh Amendment, the Eighth Amendment, the Ninth Amendment, the Tenth Amendment, the Eleventh Amendment and the Twelfth Amendment, (the Loan Agreement). The parties have entered into a Thirteenth Amendment to Loan Agreement, dated as of October 25, 2022 (Thirteenth Amendment), to, among other things, extend the expiration date of the Loan Agreement to October 28, 2022.
Blonder Tongue Laboratories, Inc., along with its subsidiary R. L. Drake Holdings, LLC (Drake), is a technology research and development company. The Company delivers a range of products and services to telecommunications, cable and fiber optic service delivery operators, as well as broadcasters and media production companies. Its products are deployed in a list of locations, including lodging/hospitality, multi-dwelling units/apartments, broadcast studios/networks, universities/schools, healthcare/hospitals, fitness centers, government facilities/offices, prisons, airports, sports stadiums/arenas, entertainment venues/casinos, retail stores, and small-medium businesses. The Companyâs products are divided into five categories: Encoders and Transcoders, NeXgen Gateway (NXG), Coax Distribution, consumer premise equipment (CPE) and Digital Modulation. Its Encoder/Transcoder Products are used by a system operator for encoding and transcoding of digital video.
Blonder Tongue Laboratories, Inc, R. L. Drake Holdings, LLC, Blonder Tongue Far East LLC, Midcap Business Credit LLC Extend the Expiration Date of the Loan Agreement to October 28, 2022