The US Bankruptcy Court ordered approving the post-petition financing for The Original Soupman, Inc. on interim basis on June 21, 2017. As per the order, the debtor has been authorized to obtain an interim term loan facility in the amount of $1 million out of $2 million from Soupman Lending, LLC. Soupman Lending, LLC also acting as the administrative agent. The DIP loan would either carry an interest rate of 15% per annum to be paid monthly on the first business day of each month. The debtor will also pay commitment fee of 2% of the full DIP facility amount and funding fee of 2% of the DIP Facility amount. The debtor shall be obligated to pay an Exit Fee of 5% of the DIP facility amount. Debtor will pay a non-refundable work fee of $0.1 million to DIP Lender’s attorney upon entry of the Interim Order. The maturity date will be earliest of 90 days from the petition date i.e. September 11, 2017, 30 days after the Interim Order entry date i.e. July 21, 2017, the effective date of any Chapter 11 plan or the closing of a sale of substantially all of the debtors’ assets. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.30 million towards unpaid professional fees or administrative expenses. The final hearing will be held on July 10, 2017.