Mendocino Brewing Co. Inc. and Releta Brewing Company LLC Enter into Fifth Amendment to the Credit and Security Agreement
September 22, 2016 at 05:25 pm EDT
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Effective September 21, 2016, Mendocino Brewing Company Inc. (the Registrant), Releta Brewing Company LLC, (RBC and together with the registrant, the Borrowers) and MB Financial Bank, N.A. (Lender), successor in interest to Cole Taylor Bank entered into a fifth amendment to the credit and security agreement by and between the borrowers and Cole Taylor Bank dated June 23, 2011, as previously amended on March 29, 2013, January 21, 2015 (the second amendment), June 20, 2016, and July 22, 2016. The agreement provides the borrowers a credit facility, secured by the personal property of the Mendocino Brewing and RBC, and the Registrant’s Ukiah, California facility, among other items of the borrowers’ property. Prior to the Fifth Amendment, the credit facility was to mature on September 21, 2016, and consisted of a $1,250,000 revolving facility, a $1,934,000 machinery and equipment term loan, a $2,947,000 real estate term loan and a $1,000,000 capital expenditure line of credit. The fifth amendment extends the maturity date of the credit agreement from September 21, 2016 to October 21, 2016. In connection with the fifth amendment, borrowers paid a $15,000 amendment fee to the lender, which was charged to the revolving line of credit provided by Lender under the agreement.
Mendocino Brewing Company, Inc. (MBC) is a craft brewer. The Company produces ales and lagers in its breweries in the United States. The Company operates through two segments: brewing operations, tavern and tasting room operations in the United States and Canada (the North American Territory), and distributor operations in Europe (including Austria, Belgium, Denmark, Ireland, Italy, the Netherlands, France, Finland, Germany, Greece, Iceland, Liechtenstein, Luxembourg, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom) (the Foreign Territory). The Company's operations in the North American Territory consist primarily of brewing and marketing craft beers. The Company's operations in the Foreign Territory consist primarily of the marketing and distribution of Kingfisher Premium Lager in the Foreign Territory through Indian restaurants, chain retail grocers, liquor stores and other retail outlets (such as convenience stores).
MENDOCINO BREWING COMPANY, INC. 
