EX-10.1 2 rdi-20210331xex10_1.htm EX-10.1

Exhibit 10.1

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PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED BECAUSE THEY ARE BOTH (I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. INFORMATION THAT HAS BEEN OMITTED HAS BEEN NOTED IN THIS DOCUMENT WITH A PLACEHOLDER IDENTIFIED BY THE MARK “[***]”

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|  | Westpac New Zealand Limited Level 1, Cityside, Westpac on Takutai Sq Auckland, NZ PO Box 7740, Wellesley Street, Auckland, Telephone (09) 348 9324

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CREDIT RESTRUCTURING

30 April 2021

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The Directors

Re a ding Courtenay Central Limited

C/- Reading International Limited

5995 S epul v ed a Blvd

Suite 300

Cul v e r City

California 90230

Uni t ed States of America

De ar Directors,

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BANKING FACILITIES – READING COURTENAY CENTRAL LIMITED

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We confirm t h at w e h av e a pp r o v ed th e following changes t o y ou r banking arra ngemen t s.

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THE CHANGES

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1. W es t p a c NZ waives the 31 March 2021 test of the Interest Cover ratio, applicable to your banking arrangements and detailed in clause 8.2(b) of the MOCL agreement, dated October 2016, as amended from time to time (the Agreement”). Testing of this covenant shall resume on 30 June 2021 and quarterly thereafter.

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THE CONDITIONS OF APPROVA L

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The $16,000,000 term deposit (***) in the name of Reading New Zealand Limited held at Westpac New Zealand Limited will be paid into the MOCL facility in the permanent reduction of the facility from $32,000,000 to $16,000,000.

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In all othe r respects your banking arrangements remain unchanged.

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I f the terms of thi s letter ar e acceptable t o you, please sign this letter, arrange for all gu ara n t o r s t o sign it, an d return it. The changes w ill ta ke e ff ec t from the d at e w e receive the signed copy from you provided any conditions hav e been satisfied.

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This letter may be executed in two or more counterparts, all of which will be deemed t o constitute the s am e instrument. Westpac NZ may accept a s a n original a facsimile c op y or copies of t his letter executed b y the p art ies, which when taken w i t h a counterpart execu t ed b y W es t p a c NZ, will be deemed t o be one original copy of this letter.

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Yours sincerely,

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/s/ Jennifer Wood

Jennifer Wood

SENIOR MANAGER

CREDIT RESTRUCTURING GROUP

ACCEPTANCE

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We accept the changes described in this letter.

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S igned on beh a l f of the Borrower, Reading Courtenay Central Limited, by:

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| Director |
Date o f a cc e p t a n c e: | 29/0 4/202 1 |

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GUARANTOR'S CONSENT

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We confirm t h at our guarantee i s not affected b y the changes referred to in this letter.

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S igned on beh a l f of the guarantor, Reading New Zealand Limited, by:

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ncnt |  |
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| Director |
Date o f consent: | 29/0 4/202 1 |

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S igned on beh a l f of the guarantor, Reading Cinemas Courtenay Central Limited, by:

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ncnt |  |
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| Director |
Date o f consent: | 29/0 4/202 1 |

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S igned on beh a l f of the guarantor, Reading New Lynn Limited, by:

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ncnt |  |
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| Director |
Date o f consent: | 29/0 4/202 1 |

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S igned on beh a l f of the guarantor, Reading Dunedin Limited, by:

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ncnt |  |
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| Director |
Date o f consent: | 29/0 4/202 1 |

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S igned on beh a l f of the guarantor, Reading Queenstown Limited, by:

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ncnt |  |
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| Director |
Date o f consent: | 29/0 4/202 1 |

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S igned on beh a l f of the guarantor, Reading Restaurants NZ Limited, by:

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ncnt |  |
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| Director |
Date o f consent: | 29/0 4/202 1 |

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S igned on beh a l f of the guarantor, Courtenay Car Park Limited, by:

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ncnt |  |
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| Director |
Date o f consent: | 29/0 4/202 1 |

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S igned on beh a l f of the guarantor, Reading Wellington Properties Limited, by:

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ncnt |  |
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| Director |
Date o f consent: | 29/0 4/202 1 |

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S igned on beh a l f of the guarantor, Queenstown Land Holdings Limited, by:

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ncnt |  |
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| Director |
Date o f consent: | 29/0 4/202 1 |

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S igned on beh a l f of the guarantor, Darnelle Enterprises Limited, by:

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ncnt |  |
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| Director |
Date o f consent: | 29/0 4/202 1 |

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S igned on beh a l f of the guarantor, Movieland Cinemas (NZ) Limited, by:

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ncnt |  |
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| Director |
Date o f consent: | 29/0 4/202 1 |

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S igned on beh a l f of the guarantor, New Zealand Equipment Supply Limited, by:

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ncnt |  |
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| Director |
Date o f consent: | 29/0 4/202 1 |

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