EXHIBIT 1
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FIRST AMENDMENT TO MASTER LINE OF CREDIT AGREEMENT
MENDOCINO BREWING COMPANY, INC.
This First Amendment to Master Line of Credit Agreement (this "Amendment") is
made and entered into as of April 28, 2000, by and between United Breweries of
America, Inc., a Delaware corporation ("UBA"), and Mendocino Brewing Company,
Inc., a California corporation ("MBC").
Recitals
A. UBA and MBC have entered into a Master Line of Credit Agreement (the
"Agreement"), dated as of August 31, 1999, with respect to a credit facility in
the amount of $800,000 made available to MBC by UBA.
B. UBA and MBC wish to amend the Agreement to increase the amount of the
credit facility to $1,200,000.
NOW, THEREFORE, the parties agree as follows:
Agreement
1. General Purpose and Amount. Section 1 of the Agreement is hereby amended,
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in its entirety, to provide as follows:
"1. General Purpose, Amount. Lender agrees to make and Borrower agrees to
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accept a credit facility in the principal sum of One Million Two Hundred
Thousand Dollars ($1,200,000.00) or so much thereof as may be from time to
time disbursed hereunder (the "Credit Facility") for the purpose of
providing funds for the operations of Borrower, including paying amounts
owed by Borrower to Lender. Each draw on the Credit Facility shall be
evidenced by a convertible promissory note (each a "Note") of Borrower,
payable to the order of Lender and shall be substantially in the form set
forth in Exhibit A."
2. Governing Law. This Amendment shall be governed by and construed in
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accordance with the laws, without regard to the laws as to choice or conflict of
laws, of the State of California.
3. Ratification of Agreement; Amendments. Except as specifically amended by
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this Amendment, all provisions of the Agreement are ratified and affirmed. The
Agreement and this Amendment may only be amended by a written instrument
executed by both UBA and MBC.
4. Counterparts. This Amendment may be executed in two or more counterparts,
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each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed as of
the date first above written.
MENDOCINO BREWING COMPANY, INC.,
a California corporation
By: /s/ Xxxxxxx Xxxxx
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Xxxxxxx Xxxxx, President
By: /s/ P.A. Murali
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P.A. Murali, Chief Financial Officer
UNITED BREWERIES OF AMERICA, INC.
By: /s/ Xxxx Xxxxxxxxx
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Xxxx Xxxxxxxxx, Secretary and Treasurer
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