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SEC Filings

COSI INC filed this Form 8-K on 12/28/2016
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Operator shall deposit with Owner, via wire transfer of immediately available funds to the account set forth on Schedule 1 hereto or borrowing under the DIP Facility the amount of $500,000 which funds shall secure Operator’s indemnification obligations under this Agreement (the “Indemnification Deposit”) and which funds be kept in account and not disbursed without order of the Bankruptcy Court except that the balance will be returned to Operator fifteen (15) Business Days after the Plan Effective Date or the  Closing Date, as applicable, except to the extent that an indemnitee has asserted before such date a good faith and specific claim for indemnification prior to the expiration of that period of fifteen (15) Business Days;
Owner shall draw the debtor-in-possession financing facility (“DIP Facility”) sufficient to satisfy all expenses required to be satisfied by Owner as of a sale closing on the Effective Date in the absence of the effectuation of the Plan Option3, which expenses are set forth on Schedule 3 (the “DIP Funds”); further, no additional interest, fees or other charges shall arise or accrue under the DIP Facility on or after the Effective Date; further, any interest, fees or other charges that are owed under the DIP Facility as of the Effective Date shall not be secured by the Cash Payment, the DIP Funds or the Indemnification Deposit; and

3 For the avoidance of doubt, Schedule 3 identifies those obligations and expenses of Owner which Owner will either (i) pay on or shortly after the Effective Date or (ii) hold in a segregated account to pay if needed at Closing or on the Plan Effective Date.  Further, the obligations and expenses of Owner on Schedule 3 are consistent with the cash flow budget attached to the proposed Final Order Under 11 U.S.C. §§ 105(a), 361, 362(c)(2), 363(e) and 364 and Fed. R. Bankr. P. 2002, 4001 and 9014(I)(A) authorizing Debtors to Obtain Post-Petition Financing and (B) Utilize Cash Collateral, and (II) Granting Adequate Protection to Prepetition Secured Parties.

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