Blonder Tongue Laboratories, Inc. (NYSEMKT:BDR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
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Entry into a Material Definitive Agreement
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“Company”), R. L. Drake Holdings, LLC, a wholly-owned
subsidiary of the Company (“RLD” and with the Company,
collectively, “Borrower”), and Santander Bank, N.A.
(“Santander”) entered into a Seventeenth Amendment to Revolving
Credit, Term Loan and Security Agreement (the “Seventeenth
Amendment”), to amend that certain Revolving Credit, Term Loan
and Security Agreement dated August 6, 2008, as amended by the
previous sixteen amendments (as amended to date including the
Seventeenth Amendment, collectively, the “Loan Agreement”).
Loan Agreement and the “Additional Availability Period” under
the Loan Agreement from December 1, 2016 to December 31, 2016.
complete and is qualified in its entirety by reference to the
full text of the Seventeenth Amendment, which is attached hereto
as Exhibit 10.1 and incorporated herein by reference.
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Item 2.03
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Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant |
incorporated by reference into this Item 2.03. Upon a default
under the Loan Agreement, including the non-payment of principal
or interest, the obligations of the Company under the Loan
Agreement may be accelerated and Santander may pursue its rights
under the Uniform Commercial Code and any other applicable law or
in equity.
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Item 9.01
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Financial Statements and Exhibits
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Exhibit No.
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Description
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10.1
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Seventeenth Amendment to Revolving Credit, Term Loan and
Security Agreement, dated November 30, 2016, between Santander Bank, N.A. and Blonder Tongue Laboratories, Inc. and R. L. Drake Holdings, LLC. |
About Blonder Tongue Laboratories, Inc. (NYSEMKT:BDR)
Blonder Tongue Laboratories, Inc. (Blonder Tongue), along with its subsidiary, R. L. Drake Holdings, LLC (RLD), is a technology-development and manufacturing company. The Company delivers a range of products and services to the cable entertainment and media industry. Its products are deployed in a list of locations, including lodging/hospitality, multi-dwelling units/apartments, broadcast studios/networks, universities/schools, healthcare/hospitals and airports. Blonder Tongue’s products are divided into three categories: Digital Video Headend, Analog Video Headend and Hybrid-Fiber Coax (HFC) Distribution. The Digital Video Headend products (including encoders) are used by a system operator for acquisition, processing, compression, encoding and management of digital video. The Analog Video Headend products are used by a system operator for signal acquisition, processing and manipulation. The HFC Distribution products are used to transport signals from the headend to their destination. Blonder Tongue Laboratories, Inc. (NYSEMKT:BDR) Recent Trading Information
Blonder Tongue Laboratories, Inc. (NYSEMKT:BDR) closed its last trading session down -0.008 at 0.502 with 13,322 shares trading hands.
