On February 5, 2016, Mad Catz Interactive, Inc. and its subsidiaries Mad Catz Inc. (MCI) and 1328158 Ontario Inc. (MCC), entered into a third amendment to that certain Loan and security agreement between the company, MCI, MCC, the lenders party thereto and NewStar Business Credit LLC (NSBC), dated June 30, 2015. The amendment, which is effective February 5, 2016, resets the EBITDA covenants, as defined, for December 2015 - February 2016, based on revised forecasts, and contains other conditions, including payment of $20,000 amendment fee to NSBC, representations and warranties, and provisions that the company believes are usual and customary for credit arrangements similar to those contemplated by the amendment.