BLONDER TONGUE LABORATORIES INC : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an…

Item 1.01 Entry into a Material Definitive Agreement.

As previously disclosed, on October 25, 2019, Blonder Tongue Laboratories, Inc.(the "Company"), R. L. Drake Holdings, LLC, a wholly-owned subsidiary of theCompany, Blonder Tongue Far East, LLC, a wholly-owned subsidiary of the Companyand MidCap Business Credit LLC ("MidCap") entered into a Loan and SecurityAgreement (All Assets) (the "Original Agreement"), which was subsequentlyamended by a Consent and Amendment to Loan Agreement and Loan Documents dated asof April 7, 2020 (the "First Amendment"), a Second Amendment to Loan Agreementdated as of January 8, 2021 (the "Second Amendment"), a Third Amendment to LoanAgreement dated as of June 14, 2021 (the "Third Amendment"), a Fourth Amendmentto Loan Agreement dated as of July 30, 2021 (the "Fourth Amendment"), a FifthAmendment 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 "SixthAmendment," a Seventh Amendment to Loan Agreement dated as of February 11, 2022(the "Seventh Amendment"), an Eighth Amendment to Loan Agreement dated as ofMarch 3, 2022 (the "Eighth Amendment"), a Ninth Amendment to Loan Agreementdated as of April 5, 2022 (the "Ninth Amendment"), a Tenth Amendment to LoanAgreement dated as of May 5, 2022 (the "Tenth Amendment") and an EleventhAmendment to Loan Agreement dated as of June 14, 2022 (the "Eleventh Amendment")together with the Original Agreement, the First Amendment, the Second Amendment,the Third Amendment, the Fourth Amendment, the Fifth Amendment, the SixthAmendment, the Seventh Amendment, the Eighth Amendment, the Ninth Amendment, theTenth Amendment and the Eleventh Amendment, (the "Loan Agreement").

The parties have entered into a Twelfth Amendment to Loan Agreement, dated as ofJuly 1, 2022 ("Twelfth Amendment"), to, among other things, modify the LoanAgreement's definition of "Borrowing Base" to extend the Company's WIP advanceand the amortization of the Company's overadvance facility until July 15, 2022.All other substantive terms of the Loan Agreement continue in full force andeffect.

The foregoing summary of the Twelfth Amendment is not complete and is qualifiedin its entirety by reference to the full text of the Twelfth Amendment, which isattached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporatedherein by reference. In addition, the Original Agreement is attached as anexhibit to our Current Report on Form 8-K filed on October 30, 2019, the FirstAmendment is attached as an exhibit to our Current Report on Form 8-K filed onApril 9, 2020, the Second Amendment is attached as an exhibit to our CurrentReport on Form 8-K filed on January 11, 2021, the Third Amendment is attached asan exhibit to our Current Report on Form 8-K filed on June 15, 2021 the FourthAmendment is attached as an exhibit to our Current Report on Form 8-K filed onAugust 2, 2021, the Fifth Amendment is attached as an exhibit to our CurrentReport on Form 8-K filed on August 30, 2021, the Sixth Amendment is attached asan exhibit to our Current Report on Form 8-K filed on December 17, 2021, theSeventh Amendment is attached as an exhibit to our Current Report on Form 8-Kfiled on February 15, 2022, the Eighth Amendment is attached as an exhibit toour Current Report on Form 8-K filed on March 4, 2022, the Ninth Amendment isattached as an exhibit to our Current Report on Form 8-K filed on April 8, 2022,the Tenth Amendment is attached as an exhibit to our Current Report on Form 8-Kfiled on May 5, 2022 and the Eleventh Amendment is attached as an exhibit to ourCurrent Report on Form 8-K filed on June 15, 2022. We encourage you to read eachof the Original Agreement, the First Amendment, the Second Amendment, the ThirdAmendment, the Fourth Amendment, the Fifth Amendment, the Sixth Amendment, theSeventh Amendment, the Eighth Amendment, the Ninth Amendment, the TenthAmendment, the Eleventh Amendment and the Twelfth Amendment in its entirety.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an

The information contained in Item 1.01 above with respect to the TwelfthAmendment is hereby incorporated by reference into this Item 2.03. Upon adefault under the Loan Agreement, as amended, including the non-payment ofprincipal or interest, the obligations of the borrower may be accelerated andMidCap may pursue its rights under the Loan Agreement, as amended, and therelated pledge agreement, security agreement and guaranty agreement, and underthe Uniform Commercial Code and/or any other applicable law or in equity.

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BLONDER TONGUE LABORATORIES INC : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an...