March 21, 2003
Xxxxxxxxx X. Xxxxxx
President
Portland Brewing Company
0000 XX 00xx Xxxxxx
Xxxxxxxx, Xxxxxx 00000
Re: Portland Brewing Company ("Company")
Dear Xxxx:
To the extent that the Company incurs working capital deficiencies in 2003, MLP
will provide funding to the Company in the form of debt or equity in an amount
not to exceed $500,000 to remedy cash deficiencies that may be necessary to fund
operations through December 31, 2003.
This agreement is binding and non-cancelable.
Very Truly Yours,
/s/ XXXXXX X. XXXXXXXXXXX
-------------------------
Xxxxxx X. XxxXxxxxxxx
On Behalf of MacTarnahan Limited Partnership,
Xxxxxx Mill & Logging Co., Xxxxxx X. XxxXxxxxxxx
Acknowledged:
/s/ XXXXXXXXX X. XXXXXX
-------------------------
By: Xxxxxxxxx X. Xxxxxx
Chairman & President
Cc: Xxxxx Xxxxxx, Xxxx Xxxxx LLP
