{"id":"court_ctb_2193_0","court":"CTB","case_no":"22-50073","doc_number":2193,"sub_number":0,"doc_type":"ORDER","filed_date":"2023-09-12","title":"UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION | -------------------------------------------","summary_zh":"DIP破产重整融资裁定 —— Ho Wan Kwok 破产案（郭文贵 / Guo Wengui / Miles Guo），CTB 22-50073 ECF #2193（2023年9月12日立案）。Julie A. Manning 法官签署裁定，批准破产受托人 Luc Despins 从郭文贵破产财团向 Genever Holdings LLC 及 Genever Holdings Corporation 提供总额最高达 2,000,000 美元的非优先破产保护期（DIP）贷款融资，授予其担保物权及超级优先行政管理费用求偿权，并相应变更自动中止令。","summary_en":"DIP financing order in In re Ho Wan Kwok (Miles Guo / Guo Wengui), CTB 22-50073 ECF #2193 (filed September 12, 2023). Judge Julie A. Manning entered an order authorizing Chapter 11 Trustee Luc Despins to extend post-petition debtor-in-possession (DIP) financing from the Kwok bankruptcy estate to Genever Holdings LLC and Genever Holdings Corporation for up to $2,000,000, granting non-priming liens and superpriority administrative expense claims, and modifying the automatic stay.","body_en":"# **UNITED STATES BANKRUPTCY COURT DISTRICT OF CONNECTICUT BRIDGEPORT DIVISION**\n\n| ------------------------------------------------------x |        | RE: Docket No. 2110     |\n|---------------------------------------------------------|--------|-------------------------|\n| Debtors.                                                | :<br>: | (Jointly Administered)  |\n| HO WAN KWOK, et al.,1                                   | :<br>: | Case No. 22-50073 (JAM) |\n| In re:                                                  | :<br>: | Chapter 11              |\n| ------------------------------------------------------x | :      |                         |\n\n# **ORDER (I) AUTHORIZING CHAPTER 11 TRUSTEE TO EXTEND FINANCING PURSUANT TO BANKRUPTCY CODE SECTION 363, (II) AUTHORIZING GENEVER US AND GENEVER BVI TO OBTAIN POST-PETITION FINANCING PURSUANT TO BANKRUPTCY CODE SECTION 364, (III) GRANTING NON-PRIMING LIENS AND PROVIDING SUPERPRIORITY ADMINISTRATIVE EXPENSE CLAIM, (IV) MODIFYING AUTOMATIC STAY, AND (V) GRANTING RELATED RELIEF**\n\nUpon the motion (the \"Motion\"2 ) of Genever Holdings LLC (\"Genever US\"), Genever Holdings Corporation (\"Genever BVI\") and Luc A. Despins, in his capacity as the chapter 11 trustee (the \"Trustee\") of Ho Wan Kwok (the \"Individual Debtor\"), debtors in these abovecaptioned jointly administered cases (the \"Chapter 11 Cases\"), seeking a final order (the \"DIP Order\") pursuant to sections 105(a), 361, 362, 363, 364, 503, 506, and 507 of title 11 of the United States Code, (the \"Bankruptcy Code\"), rules 2002, 4001, 6003, 6004, and 9014 of the Federal Rules of Bankruptcy Procedure (the \"Bankruptcy Rules\"), and rule 4001-3 of the Local Rules of the United States Bankruptcy Court for the District of Connecticut (the \"Local Rules\"), among other things (i) authorizing Genever US and Genever BVI (the \"DIP Borrowers\") to obtain secured\n\n<sup>1</sup> The Debtors in these chapter 11 cases are Ho Wan Kwok (also known as Guo Wengui, Miles Guo, and Miles Kwok, as well as numerous other aliases) (last four digits of tax identification number: 9595), Genever Holdings LLC (last four digits of tax identification number: 8202) and Genever Holdings Corporation. The mailing address for the Trustee, Genever Holdings LLC, and the Genever Holdings Corporation is Paul Hastings LLP, 200 Park Avenue, New York, NY 10166 c/o Luc A. Despins, as Trustee for the Estate of Ho Wan Kwok (solely for purposes of notices and communications).\n\n<sup>2</sup> Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Motion.\n\npostpetition financing from Kwok's chapter 11 estate (the \"DIP Lender\" and, together with the DIP Borrowers, the \"Movants\") consisting of non-priming secured debtor-in-possession credit facility in an aggregate principal amount of up to \\$2,000,000 and in the form of the DIP financing credit agreement attached as Exhibit 1 hereto (such agreement, the \"DIP Credit Agreement\"); (ii) granting related liens and superpriority claims in favor of the DIP Lender as more fully described herein; (iii) modifying the automatic stay to the extent necessary; and (iv) authorizing the Trustee, as representative of the DIP Lender, to enter into the DIP Credit Agreement, all on the terms and conditions set forth in this DIP Order.\n\nThe Court having reviewed the Motion and arguments made at the hearing held on September 12, 2023 (the \"DIP Hearing\") to consider entry of this DIP Order, and due and sufficient notice of the DIP Hearing having been given in accordance with Bankruptcy Rules 2002, 4001, 6003, 6004, and 9014, and all applicable Local Rules; and the DIP Hearing having been held and concluded; and all objections, if any, to the relief requested in the Motion having been withdrawn, resolved or overruled by the Court; and the Court having determined that the legal and factual bases set forth in the Motion establish just cause for the relief granted herein; and that such relief is fair and reasonable and in the best interests of the Movants, their estates, their creditors and all parties in interest, and is essential for the preservation of the value of the DIP Borrowers' estates; and it appearing that the Movants' entry into the DIP Credit Agreement is a sound and prudent exercise of the DIP Borrowers' and the Trustee's business judgment; and upon all of the proceedings had before this Court and after due deliberation and sufficient cause appearing therefor,\n\n# **THE COURT MAKES THE FOLLOWING FINDINGS OF FACT AND CONCLUSIONS OF LAW:**<sup>3</sup>\n\nA. *Petition Dates and Appointment of Trustee*. Genever US filed its voluntary chapter 11 petition in the New York Bankruptcy Court on October 12, 2020. On February 15, 2022, the Individual Debtor filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code with this Court. By order dated July 8, 2022, the Court approved the selection of the Trustee. On October 11, 2022, Genever BVI filed its voluntary chapter 11 petition in this Court. Shortly thereafter, by order dated November 3, 2022, the New York Bankruptcy Court granted the Trustee and Genever US's joint motion to transfer venue of Genever US's chapter 11 case to this Court. By order dated November 21, 2022, the Court approved the joint administration of the chapter 11 cases of Genever US, Genever BVI, and the Individual Debtor.\n\nB. *Jurisdiction and Venue*. The Court has jurisdiction over this matter pursuant to 28 U.S.C. §§ 157 and 1334 and the *Standing Order of Reference* from the United States District Court for the District of Connecticut. This is a core proceeding within the meaning of 28 U.S.C. § 157(b). Venue in this District is proper pursuant to 28 U.S.C. §§ 1408 and 1409. The statutory bases for the relief requested in this Motion are sections 105(a), 361, 362, 363, 364, 503, 506, and 507 of the Bankruptcy Code, Bankruptcy Rules 2002, 4001, 6003, 6004, and 9014, and Rule 4001-3 of the Local Rules.\n\nC. *Committee Formation*. On March 21, 2022, the United States Trustee appointed an Official Committee of Unsecured Creditors (the \"Committee\") in the Individual Debtor's chapter 11 case. No examiner has been appointed in the Chapter 11 Cases.\n\n<sup>3</sup> The findings and conclusions set forth herein constitute the Court's findings of fact and conclusions of law pursuant to Bankruptcy Rule 7052, made applicable to this proceeding pursuant to Bankruptcy Rule 9014.\n\nequivalent value and fair consideration, and represent the best financing available and (ii) to the extent applicable, satisfy the entire fairness standard.\n\n(e) Good-Faith Lender. The DIP Financing is the result of (i) the DIP Borrowers' reasonable and informed determination that the DIP Lender offered the most favorable terms on which to obtain critical postpetition financing and (ii) good-faith considerations by the DIP Borrowers and the Trustee acting as the representative of the Individual Debtor's estate. The terms and conditions of the DIP Facility are reasonable and appropriate under the circumstances. Further, no consideration is being provided to any party to the DIP Facility other than as described in the Motion. The DIP Loans and any obligations of the DIP Borrowers owing to the DIP Lender, in accordance with the terms of the DIP Credit Agreement, have been extended by the DIP Lender in good faith, and in express reliance upon the protections offered by section 364(e) of the Bankruptcy Code. The DIP Lender (and any successors and assigns thereof) shall be entitled to the full protection of section 364(e) of the Bankruptcy Code in the event that this DIP Order or any provision hereof is vacated, reversed or modified, on appeal or otherwise.\n\n(f) Use of Proceeds of the DIP Facility. The DIP Borrowers will use the proceeds of the DIP Facility consistent with this Order and as provided in the DIP Credit Agreement and only for purposes that are permissible under the Bankruptcy Code.\n\n(g) Section 506(c) of the Bankruptcy Code. The DIP Lender is entitled to a waiver of the provisions of section 506(c) of the Bankruptcy Code as provided herein.\n\n(h) Corporate Authority. The DIP Borrowers and the Trustee (acting as the representative of the DIP Lender) each have all requisite power and authority to execute and deliver the DIP Credit Agreement to which it is a party and to perform its obligations thereunder,\n\n5\n\nagreements, charges, deeds, and documents, and to pay the principal, interest, and other amounts described in the DIP Credit Agreement as such amounts become due and payable in accordance with the terms and conditions of the DIP Credit Agreement, and to take any other related actions that may be necessary, desirable or appropriate, all to the extent provided in this DIP Order or the DIP Credit Agreement.\n\n3. *Carve-Out.* Carve-Out means the sum of (i) all fees required to be paid to the Clerk of the Court and to the U.S. Trustee pursuant to 28 U.S.C. § 1930(a); (ii) all reasonable and documented fees and expenses up to \\$40,000 incurred by a trustee under section 726(b) of the Bankruptcy Code and allowed by the Court; and (iii) to the extent allowed by this Court at any time, whether by interim or final order, all accrued and unpaid claims for fees, costs, and expenses of the kind specified in sections 327, 328, 330 and 331 of the Bankruptcy Code incurred by persons or firms retained by the DIP Borrowers after the Venue Transfer Date (the \"Carve-Out Professional Fees\"). The Carve-Out Professional Fees shall not exceed \\$350,000. For the avoidance of doubt, the Carve-Out Professional Fees shall exclude any fees required to be paid to any real estate broker. At no time may the total amount owed by the DIP Borrowers exceed the DIP Lender's Commitment less \\$350,000.\n\n4. *DIP Claim.* Pursuant to section 364(c)(1) of the Bankruptcy Code, the DIP Lender shall be granted an allowed senior secured superpriority administrative expense claim against each of the DIP Borrowers, on a sole and several basis, with priority over any and all other claims against the DIP Borrowers, now existing or hereafter arising, of any kind whatsoever, other than the Allowed SN Senior Debt Claim (as defined herein) and other SN Senior Debt to the extent allowed, including, without limitation, all administrative expenses of the kind specified in sections 503(b) and 507(b) of the Bankruptcy Code and any and all administrative expenses or other claims arising under sections 105, 326, 327, 328, 330, 331, 365, 503(b), 506(c), 507(a), 507(b), 726, 1113 or 1114 of the Bankruptcy Code, whether or not such expenses or claims may become secured by a judgment lien or other non-consensual lien, levy or attachment, which allowed senior secured superpriority administrative expense claim (the \"DIP Claim\") shall for purposes of section 1129(a)(9)(A) of the Bankruptcy Code be considered administrative expenses allowed under section 503(b) of the Bankruptcy Code, and which DIP Claim shall be payable from and have first recourse to (i) the DIP Collateral and all proceeds thereof, subject only to payment of the Carve-Out and the Allowed SN Senior Debt Claim and other SN Senior Debt to the extent allowed and (ii) any other asset of the DIP Borrowers, *provided, however*, that the DIP Claim will not have first recourse to proceeds of any actions under sections 502(d), 544, 545, 547, 548, 551, 553(b), 732(2) or 742(2) of the Bankruptcy Code. For the avoidance of doubt, except for the Carve-Out and the Allowed SN Senior Debt Claim and other SN Senior Debt to the extent allowed, the DIP Claim shall not be made subject to or *pari passu* with any claim heretofore granted or hereinafter granted or created in the chapter 11 cases or any successor case or cases under the Bankruptcy Code (including, without limitation, any case under chapter 7 of the Bankruptcy Code), and such DIP Claim shall maintain its priority as provided herein until all obligations hereunder and under the DIP Credit Agreement have been paid in full. The DIP Claim shall be entitled to the full protection of section 364(e) of the Bankruptcy Code in the event that this DIP Order or any provision hereof is vacated, reversed or modified, on appeal or otherwise.\n\n5. *DIP Collateral*. DIP Collateral shall mean and include the following property and the proceeds of such property: (a) Genever US's interest in (i) the proprietary lease dated March 6, 2015 by and between the Sherry Netherland, Inc., and Genever Holdings LLC for that certain apartment known as Apartment 1801 and the shares appurtenant to such lease; (ii) Genever US's interest in the proprietary lease dated March 6, 2015 by and between the Sherry Netherland, Inc., and Genever Holdings LLC for that certain apartment known as Maid's Room 2219 and the shares appurtenant to such lease, (iii) Genever US's interest in the proprietary lease dated March 6, 2015 by and between the Sherry Netherland, Inc., and Genever Holdings LLC for that certain apartment known as Maid's Room 719 and the shares appurtenant to such lease (such leases and such shares, collectively, the \"Coop Interest\"); (b) the proceeds of litigation commenced or to be commenced by Genever BVI or Genever US (the \"Borrowers' Litigation Claims\"), including, without limitation, the adversary proceeding brought in the Bankruptcy Court by Genever US against AIG Property Casualty Company and stylized as *Complaint Under Sections 105 and 363 of the Bankruptcy Code and Bankruptcy Rule 7001 of Genever Holdings LLC Against AIG Property Casualty Company Under Various Insurance Policies for Breach of Contract and Declaratory Judgment*, and docketed as Docket No. 1 in Adv. Proc. No. 23-05007 (the \"AIG Litigation\"); (c) any and all funds held in deposit accounts in the name of the DIP Borrowers, including, without limitation, the Cash Deposit; and (d) Genever BVI's ownership interest in Genever US. For the avoidance of doubt, DIP Collateral shall not include any avoidance actions under sections 502(d), 544, 545, 547, 548, 551, 553(b), 732(2) or 742(2) of the Bankruptcy Code, or the proceeds of such avoidance actions.\n\n6. *DIP Liens*. As security for the DIP Loans, and subject only to the Carve-Out, effective and automatically and properly perfected upon the date of the entry of this DIP Order, and without the necessity of the execution, recordation, perfection, filings by the DIP Lender, or the possession or control by the DIP Agent of, or over, any DIP Collateral, the following valid, binding, continuing, enforceable and non-avoidable security interests and liens are hereby granted to the DIP Lender (all such liens and security interests the \"DIP Liens\").\n\n(a) Senior Liens. Pursuant to section 364(c)(2) of the Bankruptcy Code, a valid, binding, enforceable, fully-perfected first priority security interest in and lien upon the DIP Collateral that, on or as of the Petition Date, is not otherwise subject to a lien. For the avoidance of doubt:\n\n- 1. The Sherry Netherland First Lien and the Sherry Netherland's security interest in and first lien on the Cash Deposit (the \"Sherry Netherland Cash Deposit Lien\" and, together with the Sherry Netherland First Lien, the \"Sherry Netherland Senior Liens\") are valid and duly perfected and are senior to and have priority in all respects, including payment, to the security interests and liens granted to the DIP Lender with respect to DIP Collateral and the proceeds thereof.\n- 2. Subject to the Carveout, the DIP Lender shall have a first priority security interest in all DIP Collateral (other than the Coop Interest and the Cash Deposit) including, without limitation, the Borrowers' Litigation Claims (including the AIG Litigation) and Genever BVI's ownership interest in Genever US. Notwithstanding the foregoing, the Sherry Netherland shall have the right to assert solely an equitable lien in and over any proceeds of the AIG Litigation (but not any other Borrowers' Litigation Claim). If such equitable lien is asserted, the validity, enforceability, and priority of such asserted equitable lien will be determined by a court of competent jurisdiction (with the Movants believing that the Bankruptcy Court\n\nwould have sole and exclusive jurisdiction and the Sherry Netherland reserving all rights) under applicable bankruptcy and non-bankruptcy law, and all parties' rights with respect thereto are preserved.\n\n(b) Liens Junior to Certain Other Liens. Pursuant to section 364(c)(3) of the Bankruptcy Code, a valid, binding, enforceable, fully-perfected junior security interest in and lien upon the DIP Collateral that (i) on or as of the Petition Date is subject to valid, perfected and unavoidable senior liens in existence immediately prior to the Petition Date or (ii) becomes subject to perfected liens as permitted by section 546(b) of the Bankruptcy Code. For the avoidance of doubt, the DIP Liens shall be junior to the Sherry Netherland Senior Liens.\n\n(c) No Cross-Collateralization. The DIP Liens granted in the property of each DIP Borrower will secure only the obligations of that borrower.\n\n(d) No Default Under Proprietary Lease. The Sherry Netherland shall not raise any argument, in connection with the Motion or otherwise, that Genever US defaulted under the Proprietary Lease by granting the security interests and liens described herein.\n\n7. The DIP Liens shall be entitled to the full protection of section 364(e) of the Bankruptcy Code in the event that any of the DIP Orders or any provision thereof is vacated, reversed or modified, on appeal or otherwise.\n\n8. *Protection of Rights under the DIP Facility.* The automatic stay is hereby modified to the extent necessary to permit the DIP Borrowers and the Trustee, as representative of the DIP Lender, as applicable, to take any or all of the following actions, at the same or different time, in each case without further order or application of the Court: (i) file any financing statements, security agreements, notices of liens, and other similar instruments and documents in order to validate and perfect the liens and security interests granted herein; (ii) grant the DIP Liens and incur all liabilities and obligations set forth herein; and (iii) following a default, exercise all rights and remedies of the DIP Lender in accordance with the DIP Credit Agreement. For the avoidance of doubt and as set forth in the DIP Credit Agreement, the DIP Lender will not take any enforcement action whether by demand foreclosure or other enforcement action, to collect on any obligations arising under the DIP Credit Agreement by realizing upon the whole or part of the Coop Interest or Cash Deposit unless and until there is full payment of the Allowed SN Senior Debt Claim and other SN Senior Debt to the extent allowed.\n\n#### 9. *Preservation of Rights Granted Under the DIP Orders.*\n\n(a) Other than the Carve-Out and as permitted in the DIP Credit Agreement, no claim or lien having a priority superior to or *pari passu* with the DIP Claim or the DIP Lien shall be permitted while any of the DIP Loans remain outstanding and, except as otherwise expressly provided in this DIP Order, the DIP Liens shall not be: (i) subject or junior to any lien or security interest that is avoided and preserved for the benefit of the DIP Borrowers' estates under section 551 of the Bankruptcy Code; or (ii) subordinated to or made *pari passu* with any other lien or security interest, whether under section 364(d) of the Bankruptcy Code or otherwise.\n\n(b) As used in this DIP Order, the term \"Event of Default\" shall mean the existence of (i) any Event of Default (as defined and under the DIP Credit Agreement) or (ii) any material breach of any of the terms of this DIP Order by the DIP Borrowers. Notwithstanding any order entered dismissing any of the Chapter 11 Cases under section 1112 of the Bankruptcy Code or otherwise: (i) the DIP Claims and the DIP Liens, and any claims related to the foregoing, shall continue in full force and effect and shall maintain their priorities until all DIP Loans shall have been paid in full (and that such DIP Claim and DIP Liens, shall, notwithstanding such dismissal, remain binding); (ii) the other rights granted by the DIP Order, including with respect to the Carve-Out, shall not be affected; and (iii) this Court shall retain jurisdiction, notwithstanding such dismissal, for the purposes of enforcing the claims, liens and security interests referred to in this paragraph and otherwise in this DIP Order.\n\n(c) If any or all of the provisions of this DIP Order are hereafter reversed, modified, vacated or stayed, the DIP Lender shall be entitled to all the rights, remedies, privileges and benefits granted in section 364(e) of the Bankruptcy Code, the DIP Order, and the DIP Credit Agreement with respect to the DIP Loans.\n\n(d) Except as expressly provided in this DIP Order or in the DIP Credit Agreement, the DIP Liens and the DIP Claim and all other rights and remedies of the DIP Lender granted by the provisions of DIP Credit Agreement shall survive, and shall not be modified, impaired or discharged by: (i) the entry of an order converting any of the Chapter 11 Cases to a case under chapter 7 of the Bankruptcy Code, dismissing any of the Chapter 11 Cases or terminating the joint administration of the Chapter 11 Cases or by any other act or omission; (ii) the entry of an order confirming a chapter 11 plan in any of the Chapter 11 Cases and, pursuant to section 1141(d)(4) of the Bankruptcy Code, the DIP Borrowers waive any discharge as to any remaining DIP Loans. The terms and provisions of the DIP Credit Agreement shall continue in these Chapter 11 Cases, in any successor cases if these Chapter 11 Cases cease to be jointly administered and in any superseding chapter 7 cases under the Bankruptcy Code, and the DIP Liens and the DIP Claim and all other rights and remedies of the DIP Lender, granted by the provisions of the DIP Credit Agreement shall continue in full force and effect until the DIP Loans are paid in full, as set forth herein and in the DIP Credit Agreement.\n\n10. *Loss or Damage to DIP Collateral*. Nothing in this DIP Order, the DIP Credit Agreement, or any other documents related to these transactions shall in any way be construed or interpreted to impose or allow the imposition upon the Trustee of any liability for any claims arising from the prepetition or postpetition activities of the DIP Lender or the DIP Borrowers in connection with their restructuring efforts.\n\n11. *Allowed SN Senior Debt Claim*. The Sherry Netherland's pre-petition claim for unpaid arrearages owed to the Sherry Netherland under the Proprietary Lease and other corporate documents is hereby allowed as a pre-petition secured claim in the amount of \\$1,096,186.54, which amount is not subject to challenge or objection by the Movants or amendment or supplementation by the Sherry Netherland (the \"Allowed SN Senior Debt Claim\").\n\n12. *Authority to Pay Certain Post-Petition Fees*. Genever US is authorized to agree to pay, and the DIP Lender, acting through and at the discretion of the Trustee is authorized to advance funds for the payment of, (i) reasonable post-petition fees of the Sherry Netherland's counsel and (ii) Genever US's professionals that have provided, or continue to provide, services to Genever US after the Venue Transfer Date. Prior to making payments under this paragraph, Genever US shall file a notice with the Court attaching the applicable invoices. Parties in interest will then have fourteen (14) days to object to such invoices. If no timely objections are filed with the Court, Genever US is authorized to pay such invoices without further Court order. If any timely objections are filed, (i) Genever US and the affected professional(s) may file a response to such objection(s) within seven (7) days thereafter and (ii) Genever US shall pay the portion of the\n\nfees and expenses that are not subject to such objection(s). To the extent that an objection cannot be consensually resolved among the parties, the Court will rule on the matter.\n\n13. Nothing herein or in the Motion constitutes, or shall be construed as, a finding or waiver regarding the allowance or priority of any asserted post-petition amounts that have arisen, or may arise, under the Proprietary Lease and other corporate documents, including, without limitation, claims as a result of the fire in the Apartment, and all parties' rights with respect to such post-petition claims are fully preserved.\n\n14. *DIP Order Governs*. In the event of any inconsistency between the provisions of this DIP Order, on the one hand, and the DIP Credit Agreement or any other order entered by this Court, the provisions of this DIP Order shall govern. Notwithstanding anything to the contrary in any other order entered by this Court, any payment made pursuant to and any authorization contained in any other order entered by this Court shall be consistent with and subject to the requirements set forth in this DIP Order and the DIP Credit Agreement.\n\n15. *Binding Effect; Successors and Assigns*. The DIP Credit Agreement and the provisions of this DIP Order, including all findings herein, shall be binding upon all parties in interest in the Chapter 11 Cases, including, without limitation, the DIP Borrowers, the Trustee, the DIP Lender, the Committee, any other statutory or non-statutory committees appointed or formed in the Chapter 11 Cases, and their respective successors and assigns.\n\n16. *No Waiver.* No delay or failure of the DIP Lender in the exercise of its rights and remedies under the DIP Credit Agreement or this DIP Order, as applicable, shall constitute a waiver, in whole or in part, of any of the DIP Lender's rights hereunder or otherwise.\n\n17. *Effectiveness*. This DIP Order shall constitute findings of fact and conclusions of law and shall take effect and be fully enforceable immediately upon entry hereof. Notwithstanding\n\n15\n\nBankruptcy Rules 4001(a)(3), 6004(h), 6006(d), 7062, or 9014 of the Bankruptcy Rules or any Local Rule, or Rule 62(a) of the Federal Rules of Civil Procedure, this DIP Order shall be immediately effective and enforceable upon its entry and there shall be no stay of execution or effectiveness of this DIP Order.\n\n18. *Headings*. Section headings used herein are for convenience only and are not to affect the construction of or to be taken into consideration in interpreting this DIP Order.\n\n19. *Bankruptcy Rules*. The requirements of Bankruptcy Rules 4001 and 6004, in each case to the extent applicable, are satisfied by the contents of the Motion.\n\n20. *No Third Party Rights*. Except as explicitly provided for herein, this DIP Order does not create any rights for the benefit of any third party, creditor, or any direct, indirect or incidental beneficiary.\n\n21. *Necessary Action*. The DIP Borrowers, the Trustee and the DIP Lender are authorized to take all actions as are necessary or appropriate to implement the terms of this DIP Order.\n\n22. *Notice.* Within three (3) business days after entry of this DIP Order, the DIP Borrowers shall serve copies of this DIP Order on the parties having been given notice of the DIP Hearing, to any party that has filed a request for notices with this Court, and to counsel for the Committee.\n\nDated at Bridgeport, Connecticut this 12th day of September, 2023.\n\n16\n\n# **Exhibit 1**\n\nDIP Credit Agreement\n\n#### **MULTI-DRAW SENIOR SECURED SUPER-PRIORITY DEBTOR-IN-POSSESSION CREDIT AND SECURITY AGREEMENT**\n\n**dated as of August 23, 2023,**\n\n**by and among**\n\n**Genever Holdings LLC and Genever Holdings Corporation,**\n\n**as Borrowers, and as Debtors and Debtors-in-Possession under the Chapter 11 Bankruptcy Code**\n\n**and**\n\n**Luc A. Despins,**\n\n**in his capacity as the Chapter 11 Trustee under the Chapter 11 Bankruptcy Code,**\n\n**as the Lender**\n\n|              | ARTICLE 1 DEFINITIONS  2                                               |  |\n|--------------|------------------------------------------------------------------------|--|\n| Section 1.1  | General Definitions  2                                                 |  |\n| Section 1.2  | Interpretation  5                                                      |  |\n| Section 1.3  | Business Day Adjustment  6                                             |  |\n| Section 1.4  | Officers  7                                                            |  |\n|              |                                                                        |  |\n|              | ARTICLE 2 AGREEMENT FOR THE LOAN  7                                    |  |\n| Section 2.1  | Use of Proceeds  7                                                     |  |\n| Section 2.2  | Disbursements  7                                                       |  |\n| Section 2.3  | Payments; Prepayments; Termination Prepayment  8                       |  |\n| Section 2.4  | Payment Details  8                                                     |  |\n| Section 2.5  | Interest  8                                                            |  |\n|              | ARTICLE 3 REPRESENTATIONS AND WARRANTIES  8                            |  |\n| Section 3.1  | Representations and Warranties of the Borrowers  8                     |  |\n| Section 3.2  | Borrowers' Acknowledgment  9                                           |  |\n|              | ARTICLE 4 CONDITIONS PRECEDENT  9                                      |  |\n| Section 4.1  | Conditions Precedent to Closing Date and Initial Borrowing  9          |  |\n| Section 4.2  | Conditions Precedent to all Borrowings  10                             |  |\n|              |                                                                        |  |\n|              | ARTICLE 5 PARTICULAR COVENANTS AND EVENTS OF DEFAULT  11               |  |\n| Section 5.1  | Affirmative Covenants  11                                              |  |\n| Section 5.2  | Negative Covenants  11                                                 |  |\n| Section 5.3  | General Acceleration Provision upon Events of Default  11              |  |\n| Section 5.4  | Remedies  12                                                           |  |\n|              | ARTICLE 6 MISCELLANEOUS  13                                            |  |\n| Section 6.1  | Notices  13                                                            |  |\n| Section 6.2  | Waiver of Notice  14                                                   |  |\n| Section 6.3  | Cost and Expense Reimbursement 14                                      |  |\n| Section 6.4  | Governing Law; Venue; Jurisdiction; Service of Process; Waiver of Jury |  |\n|              | Trial  14                                                              |  |\n| Section 6.5  | Entire Agreement; Amendments  15                                       |  |\n| Section 6.6  | Severability  15                                                       |  |\n| Section 6.7  | Counterparts  15                                                       |  |\n| Section 6.8  | Survival  16                                                           |  |\n| Section 6.9  | No Waiver  16                                                          |  |\n| Section 6.10 | Several Liability  17                                                  |  |\n| Section 6.11 | No Third Parties Benefited  17                                         |  |\n| Section 6.12 | Binding Effect  17                                                     |  |\n| Section 6.13 | Marshaling; Payments Set Aside  17                                     |  |\n| Section 6.14 | No Waiver; Cumulative Remedies  17                                     |  |\n| Section 6.15 | Right of Setoff  17                                                    |  |\n| Section 6.16 | DIP Order Controls  18                                                 |  |\n|              |                                                                        |  |\n|              | ARTICLE 7 DIP COLLATERAL 18                                            |  |\n\n| Section 7.1 | Grant of Security Interest  18   |  |\n|-------------|----------------------------------|--|\n| Section 7.2 | Limitations  18                  |  |\n| Section 7.3 | Further Assurances  18           |  |\n| Section 7.4 | Protection of DIP Collateral  18 |  |\n| Section 7.5 | Defense of Title  19             |  |\n\n#### **Annexes**\n\nAnnex A Commitments\n\n#### **Exhibits**\n\nExhibit A Form of Notice of Borrowing\n\n#### **MULTI-DRAW SENIOR SECURED SUPER-PRIORITY**\n\n#### **DEBTOR-IN-POSSESSION CREDIT AND SECURITY AGREEMENT**\n\nThis MULTI-DRAW SENIOR SECURED SUPER-PRIORITY DEBTOR-IN-POSSESSION CREDIT AND SECURITY AGREEMENT, dated as of [•], 2023, (as amended, amended and restated, supplemented or otherwise modified, this \"Agreement\"), is entered into by and among (i) Genever Holdings LLC, a New York limited liability company and a debtor and debtor-in-possession in the Chapter 11 Cases (\"Genever US\"), (ii) Genever Holdings Corporation, a corporation registered under the laws of the British Virgin Islands and a debtor and debtor-in-possession in the Chapter 11 Cases (\"Genever BVI\" and together with Genever US, the \"Borrowers\"), and (iii) the chapter 11 estate of Ho Wan Kwok (the \"Individual Debtor\"), acting through its representative, Luc A. Despins in his capacity as the chapter 11 trustee (the \"Chapter 11 Trustee\") of the Individual Debtor (such chapter 11 estate being the \"Lender\"; together with the Borrowers party hereto, the \"Parties\").\n\n#### **W I T N E S S E T H:**\n\nWHEREAS, on October 12, 2020 (the \"Genever US Petition Date\") Genever US filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code with the Bankruptcy Court for the Southern District of New York.\n\nWHEREAS, on February 15, 2022, the Individual Debtor filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code with the Bankruptcy Court for the District of Connecticut (the \"Bankruptcy Court\"), and July 8, 2022, the Bankruptcy Court entered an order approving the appointment of Luc A. Despins as the Chapter 11 Trustee.\n\nWHEREAS, on October 11, 2022 (the \"Genever BVI Petition Date\" and together with the Genever US Petition Date, the \"Petition Date\"), Genever BVI filed a voluntary petition for relief under chapter 11 of the Bankruptcy Code with the Bankruptcy Court (Genever US, Genever BVI, and the Individual Debtor each being a \"Debtor\" and, collectively, the \"Debtors\"). On November 3, 2022, the Bankruptcy Court for the Southern District of New York granted the Chapter 11 Trustee and Genever US's joint motion to transfer venue of Genever US's chapter 11 case to the Bankruptcy Court, and on November 21, 2022 (the \"Venue Transfer Date\"), the Bankruptcy Court approved the joint administration of the chapter 11 cases of Genever US, Genever BVI, and the Individual Debtor (collectively, the \"Chapter 11 Cases\");\n\nWHEREAS, the Borrowers, in the exercise of their business judgment, have asked the Lender to provide the Borrowers with a senior secured super-priority debtor-in-possession credit facility (the \"DIP Facility\"), consisting of \\$2,000,000 of revolving Loans that will be made available to the Borrowers pursuant to the terms of, and subject to the conditions set forth in, this Agreement and the DIP Order;\n\nWHEREAS, the Lender, in the exercise of its business judgment and acting through the Chapter 11 Trustee, is willing to make such revolving Loans to the Borrowers, subject to the terms and conditions set forth in this Agreement and in the DIP Order; and\n\nWHEREAS, the Obligations of the Borrowers are subject to the Carve-Out and the Allowed SN Senior Debt Claim and other SN Senior Debt to the extent allowed and secured by Liens on the DIP Collateral, in each case, as set forth in, and subject to, the Loan Documents and the DIP Order.\n\nNOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby covenant and agree as follows:\n\n#### **ARTICLE 1**\n\n#### **DEFINITIONS**\n\n#### **Section 1.1 General Definitions**.\n\nWherever used in this Agreement, the Annexes or the Exhibits or the Schedules attached hereto, unless the context otherwise requires, the following terms have the following meanings:\n\n\"Affiliate\" shall have the meaning given to such term in section 101 of the Bankruptcy Code. Unless expressly stated otherwise herein, the Lender shall not be deemed an Affiliate of any Borrower.\n\n\"Agreement\" has the meaning set forth in the preamble to this Agreement.\n\n\"AIG Litigation\" shall mean the adversary complaint brought in the Bankruptcy Court by Genever US against AIG Property Casualty Company and stylized as *Complaint Under Sections 105 and 363 of the Bankruptcy Code and Bankruptcy Rule 7001 of Genever Holdings LLC Against AIG Property Casualty Company Under Various Insurance Policies for Breach of Contract and Declaratory Judgment*, and docketed as Docket No. 1 in Adv. Proc. No. 23-05007.\n\n\"Allowed SN Senior Debt Claim\" shall have the meaning assigned to such term in the DIP Order.\n\n\"Apartment\" shall have the meaning assigned to such term in the DIP Order.\n\n\"Bankruptcy Code\" means title 11 of the United States Code, as in effect from time to time.\n\n\"Bankruptcy Court\" has the meaning set forth in the preamble to this Agreement.\n\n\"Borrowers\" has the meanings set forth in the preamble to this Agreement.\n\n\"Borrowing\" means any request to borrow, amount actually borrowed by the Borrowers, or Loan actually made under this Agreement.\n\n\"Borrowing Date\" means the date that any Borrowing is funded by the Lender.\n\n\"Business Day\" means a day other than Saturday or Sunday on which banks are open for business in New York, New York.\n\n\"Carve-Out\" has the meaning assigned to such term in the DIP Order.\n\n\"Cash Deposit\" means the cash security deposit held by the Sherry Netherland Inc. as cash collateral securing Genever US's obligations under the proprietary lease pursuant to security deposit agreements, dated as of March 6, 2015, between Genever US and the Sherry Netherland Inc.\n\n\"Chapter 11 Cases\" has the meaning set forth in the recitals to this Agreement.\n\n\"Closing Date\" means the date upon which all conditions precedent to the effectiveness of this Agreement set forth in Article 4 are satisfied or waived in accordance with the terms hereof. For the avoidance of doubt, [•], 2023 constitutes the Closing Date.\n\n\"Commitment\" shall mean the amount in U.S. Dollars set opposite the Lender's name under the heading \"Commitment\" as set forth on Annex A.\n\n\"Debtor\" has the meaning set forth in the preamble to this Agreement.\n\n\"Default\" means any event which, with the giving of notice, lapse of time or fulfillment of any other applicable condition (or any combination of the foregoing), would constitute an Event of Default.\n\n\"DIP Collateral\" has the meaning given to it in Article 7 hereof, the DIP Order and each other applicable Loan Document.\n\n\"DIP Facility\" has the meaning set forth in the recitals to this Agreement.\n\n\"DIP Lien\" has the meaning given to it in Article 7 hereof, the DIP Order, and each other applicable Loan Document.\n\n\"DIP Motion\" means the motion and proposed form of DIP Order filed by the Parties with the Bankruptcy Court on or around the date hereof seeking approval, on a final basis, of (among other things) the DIP Facility.\n\n\"DIP Order\" means an order of the Bankruptcy Court in the Chapter 11 Cases in connection with the DIP Motion, which order shall (a) be in form and substance, and on terms and conditions, satisfactory to the Lender, (b) subject to the foregoing, authorize and approve, on a final basis, among other things, the DIP Facility and all other matters set forth in, and transactions contemplated by, the DIP Motion (including, without limitation, the DIP Facility and the making of the Loans and the incurrence of all other Obligations in accordance with the terms hereof), (c) be in full force and effect, and (d) not have been reversed, vacated, stayed or amended, supplemented or otherwise modified (unless the Lender shall have previously consented thereto in writing).\n\n\"DIP Order Date\" means the date on which the DIP Order is approved and entered by the Bankruptcy Court.\n\n\"Event of Default\" has the meaning set forth in Section 5.3.\n\n\"Governmental Authority\" means any nation, sovereign, government, quasi-governmental agency, governmental department, ministry, cabinet, commission, board, bureau, agency, court, tribunal, regulatory authority, instrumentality, judicial, legislative, fiscal or administrative or public body or entity, whether domestic or foreign, federal, state, local or other political subdivision thereof, having jurisdiction over the matter or matters and Person or Persons in question or having the authority to exercise executive, legislative, taxing, judicial, regulatory or administrative functions of or pertaining to government, including any central bank, securities exchange, regulatory body, arbitrator, public sector entity, supra-national entity and any self-regulatory organization.\n\n\"Interest Rate\" means 9.0% *per annum*, with no default interest rate and no prepayment penalty or similar premiums.\n\n\"Lender\" has the meaning set forth in the preamble to this Agreement.\n\n\"Lien\" means any lien, pledge, preferential arrangement, mortgage, security interest, deed of trust, charge, assignment, hypothecation, title retention or other encumbrance on or with respect to property or interest in property having the practical effect of constituting a security interest.\n\n\"Loan\" means each and any revolving loan made (or deemed made) hereunder or pursuant hereto from time to time.\n\n\"Loan Documents\" means this Agreement, the DIP Order, each Notice of Borrowing, any mortgage delivered in connection with this Agreement, any written notices from the Borrowers with respect to request of Loans under Section 2.2, any other documents, agreements and instruments that are specifically designated or deemed a \"Loan Document\" pursuant to the terms thereof and dated as of the Closing Date or subsequent thereto, whether or not specifically mentioned herein or therein, in each case, as amended, restated, supplemented or otherwise modified from time to time.\n\n\"Material Adverse Effect\" means a material adverse effect on (a) the business, operations, results of operations, financial condition, or assets of any Borrower, (b) the validity or enforceability of any provision of any Loan Document, (c) the ability of any Borrower to timely perform the Obligations, (d) the creation, perfection or priority of the Liens granted under the Loan Documents or the value of the Collateral (taken as a whole) or a material portion of the DIP Collateral, or (e) the rights and remedies of the Lender under any Loan Document, in each case, (other than as a result of the events and conditions related and/or leading up to the commencement of the Chapter 11 Cases, or any defaults under agreements that have no effect under the terms of the Bankruptcy Code as a result of the commencement of a proceeding under chapter 11 of the Bankruptcy Code and the Chapter 11 Cases).\n\n\"Maturity Date\" means the earliest to occur of (a) a sale of the Apartment, (b) the Debtors' filing of a plan of reorganization with the Bankruptcy Court, (c) the first business date that is 24 months from the Closing Date, or (d) the Payment in Full of all Obligations hereunder.\n\n\"Obligations\" means all (a) principal of, and premium, if any, on the Loans, and, without limiting the foregoing, all obligations and indebtedness with respect to the Commitments, (b) interest (including interest accruing after the Termination Date or other maturity of the Loans), expenses, and other amounts payable by the Borrowers under Loan Documents, and (c) other indebtedness obligations and liabilities of any kind owing by the Borrowers pursuant to the Loan Documents, whether now existing or hereafter arising, whether evidenced by a note or other writing, whether allowed in any insolvency proceeding, whether arising from an extension of credit, issuance of a letter of credit, acceptance, loan, guaranty, indemnification or otherwise, and whether direct or indirect, absolute or contingent, due or to become due, primary or secondary, or joint or several.\n\n\"Parties\" has the meaning set forth in the preamble to this Agreement.\n\n\"Payment in Full\" means with respect to the Loans and all other Obligations (other than contingent obligations as to which no claim has been asserted), (a) the indefeasible payment thereof in full in cash in accordance with the Loan Documents or as otherwise consented to in writing by the Lender (including in connection with any transaction pursuant to which all or substantially all of the Debtors' property and assets are sold, transferred or otherwise disposed of (including pursuant to section 363 of the Bankruptcy Code)) and all interest and other amounts; provided, that, notwithstanding the foregoing, \"Payment in Full\" shall not be deemed to occur, and no Loans shall be deemed to have been paid in full, unless and until such time as all Commitments shall have irrevocably, permanently and finally expired, or shall have been so terminated, cancelled and discharged. \"Payment in Full\" shall also include any reference to \"payment in full\", \"paid in full\", \"repaid in full\", \"prepaid in full\", \"redeemed in full\" or any other term or word of similar effect used in this Agreement or any other Loan Document.\n\n\"Person\" means and includes any natural person, individual, partnership, joint venture, corporation, trust, limited liability company, limited company, joint stock company, unincorporated organization, government entity or any political subdivision or agency thereof, or any other entity.\n\n\"Petition Date\" has the meaning set forth in the recitals to this Agreement.\n\n\"Proprietary Lease and Shares\" shall mean, collectively, (A) the (i) proprietary lease dated March 6, 2015 by and between the Sherry Netherland, Inc., and Genever Holdings LLC for that certain apartment known as Apartment 1801, (ii) proprietary lease dated March 6, 2015 by and between the Sherry Netherland, Inc., and Genever Holdings LLC for that certain apartment known as Maid's Room 2219, and (iii) proprietary lease dated March 6, 2015 by and between the Sherry Netherland, Inc., and Genever Holdings LLC for that certain apartment known as Maid's Room 719, and (B) the shares to which such leases are appurtenant.\n\n\"SN Senior Debt\" shall have the meaning assigned to such term in the DIP Motion.\n\n\"Stock\" means (a) all shares of capital stock (whether denominated as common stock or preferred stock), equity interests, beneficial, partnership or membership interests (or units thereof), joint venture interests, participations or other ownership or profit interests in or equivalents (regardless of how designated) of or in a Person (other than an individual), whether voting or non-voting; and (b) all securities convertible into or exchangeable for any other Stock and all warrants, options or other rights to purchase, subscribe for or otherwise acquire any other Stock, whether or not presently convertible, exchangeable or exercisable.\n\n\"Termination Date\" means the earliest of the following: (a) the Maturity Date or (b) the occurrence of any Event of Default under this Agreement or the other Loan Documents.\n\n\"Transactions\" means (a) the execution and delivery by the Borrowers of this Agreement and the other Loan Documents to which they are a party on the Closing Date, and the performance of the obligations and transactions hereunder, (b) the other transactions related to or entered into in connection with any of the foregoing and (c) the payment of fees, premiums, charges, costs and expenses in connection with any of the foregoing.\n\n\"UCC\" means the Uniform Commercial Code of any applicable jurisdiction and, if the applicable jurisdiction shall not have any Uniform Commercial Code, the Uniform Commercial Code as in effect from time to time in the State of New York.\n\n#### **Section 1.2 Interpretation**.\n\nIn this Agreement and the other Loan Documents, unless the context otherwise requires, all words and personal pronouns relating thereto shall be read and construed as the number and gender of the party or parties requires and the verb shall be read and construed as agreeing with the required word and pronoun. The division of this Agreement and the other Loan Documents into Articles and Sections and the use of headings and captions is for convenience of reference only and shall not modify or affect the interpretation or construction of this Agreement or any of its provisions. The words \"herein,\" \"hereof,\" \"hereunder,\" \"hereinafter\" and \"hereto\" and words of similar import refer to this Agreement (or other applicable Loan Document) as a whole and not to any particular Article or Section hereof (or thereof). The term \"or\" has, except where otherwise indicated, the inclusive meaning represented by the phrase \"and/or.\" The term \"documents\" and \"agreements\" include any and all instruments, documents, agreements, certificates, indentures, notices and other writings, however evidenced. The use in any of the Loan Documents of the word \"include\" or \"including,\" when following any general statement, term or matter, shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as \"without limitation\" or \"but not limited to\" or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that fall within the broadest possible scope of such general statement, term or matter. References to a specified Article, Annex, Exhibit, Section or Schedule shall be construed as a reference to that specified Article, Annex, Exhibit, Section or Schedule of this Agreement (or other applicable Loan Document). Unless specifically stated otherwise, any reference to any of the Loan Documents means such document as the same shall be amended, restated, supplemented or otherwise modified and from time to time in effect. The references to \"asset\" (or \"assets\") and \"property\" (or \"properties\") in the Loan Documents are meant to mean the same and are used throughout the Loan Documents interchangeably, and such words shall be deemed to refer to any and all tangible and intangible assets and properties, including cash, securities, Stock, accounts and contract rights. Unless otherwise specified herein or therein, all terms defined in any Loan Document shall have the defined meanings when used in any certificate or other document made or delivered pursuant hereto or thereto. The meanings of defined terms shall be equally applicable to the singular and plural forms of the defined terms. Terms (including uncapitalized terms) not otherwise defined herein and that are defined in the UCC shall have the meanings therein described. In the computation of periods of time from a specified date to a later specified date, the word \"from\" means \"from and including;\" the words \"to\" and \"until\" each mean \"to but excluding,\" and the word \"through\" means \"to and including.\" If any provision of this Agreement or any other Loan Document refers to any action taken or to be taken by any Person, or which such Person is prohibited from taking, unless otherwise expressly stated, such provision shall be interpreted to encompass any and all means, direct or indirect, of taking, or not taking, such action. References to any statute or regulation may be made by using either the common or public name thereof or a specific cite reference and, except as otherwise provided with respect to FATCA, are to be construed as including all statutory and regulatory provisions related thereto or consolidating, amending, replacing, supplementing or interpreting the statute or regulation, and any reference to any law or regulation, shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time. Whenever any reference is made in any Loan Document to any Person such reference shall be construed to include such Person's permitted successors and permitted assigns. Any financial ratios required to be satisfied in order for a specific action to be permitted under any Loan Document shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein or therein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). Unless otherwise specified, all references in any Loan Document to times of day shall be references to New York City time. The terms \"shall\" and \"will\" are used interchangeably in this Agreement and the other Loan Documents and mean for the Borrowers to have an absolute obligation to perform or do (or not perform or not do) a certain action or event, as the context may require. The payment, prepayment, redemption or repayment of any principal, interest, fees, amounts and/or other Obligations under this Agreement or the other Loan Documents shall be made in cash in Dollars unless expressly stated otherwise herein or therein. Any action or event that is not permitted or is otherwise prohibited by the terms of the Loan Documents shall mean that such action or event is (y) not directly or indirectly permitted to be taken or consummated and (z) directly and indirectly prohibited. No Person shall be permitted to take any action, or consummate any transaction, through a sublicense or a sublease (as applicable) that such Person is prohibited under (or by) the Loan Documents from taking, or consummating, through a license or a lease (as applicable).\n\n#### **Section 1.3 Business Day Adjustment**.\n\nExcept as otherwise expressly stated herein or in any other Loan Document (and except on the Maturity Date or any date of acceleration of any of the Obligations, which in each such case, such payment or performance shall be due and payable or performed on or prior to such day regardless of whether such day is a Business Day), if the day by which any payment or other performance is due to be made is not a Business Day, that payment or performance shall be made by the next succeeding Business Day unless that next succeeding Business Day falls in a different calendar month, in which case that payment or other performance shall be made by the Business Day immediately preceding the day by which such payment or other performance is due to be made; provided that interest will continue to accrue each additional day in connection therewith.\n\n### **Section 1.4 Officers**.\n\n.\n\nAny document, agreement or instrument delivered under the Loan Documents that is signed by an officer of a Borrower shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Borrower and such officer shall be conclusively presumed to have acted on behalf of such Borrower in such person's capacity as an officer of such Borrower and not in any individual or other capacity.\n\n# **ARTICLE 2**\n\n## **AGREEMENT FOR THE LOAN**\n\n#### **Section 2.1 Use of Proceeds**.\n\nThe proceeds of the Loans shall, in each case, be permitted to be used by the Borrowers at the sole discretion of the Lender and only for necessary expenses, including: (a) essential remediation repairs to the Apartment, (b) fees and expenses owed to the U.S. Trustee and (c) fees and expenses of the kind specified in sections 327, 328, 330 and 331 of the Bankruptcy Code and incurred after the Venue Transfer Date.\n\n### **Section 2.2 Disbursements**.\n\n(a) Subject to the entry, and the terms and conditions, of the DIP Order, effective immediately and automatically upon the Closing Date, and without any further action by any party to this Agreement or the other Loan Documents, the Bankruptcy Court or any other Person, the Lender will make, in its sole discretion, the following revolving Loans to the Borrowers (unless the Termination Date shall have occurred) in an aggregate amount up to but not exceeding the Lender's Commitment:\n\n(i) Revolving Loans to finance necessary expenses of the Borrowers (as permitted by Section 2.1) projected to be made during the four week period commencing with the date of the applicable draw; provided, that the aggregate amount of revolving Loans shall not exceed the remaining unfunded Commitments.\n\n(ii) Each Loan shall be made in an aggregate minimum amount of \\$10,000 and integral multiples of \\$5,000 in excess of that amount.\n\nAmounts borrowed pursuant to this Section 2.2 may be repaid and reborrowed.\n\n(b) Requests for Borrowings. In the case of a Borrowing, the applicable Borrower shall give the Lender at least one (1) Business Day's prior written notice (which writing may be in email) prior to 1:00 p.m. (EST) (the \"Notice of Borrowing\") in substantially the form of Exhibit A in the case of a Borrowing (or such shorter period of time as consented to by the Lender). Such Notice of Borrowing shall specify (i) the aggregate principal amount of Loans to be borrowed, (ii) the date of the Borrowing (which shall be a Business Day) (the \"Borrowing Date\"), and (iii) the Borrowers' expected use of such funds.\n\n(c) Termination of Commitments; Voluntary Reduction of Commitments. Commitments (if any remain unused, after giving effect to any funding of Loans on such date) shall automatically terminate on the Termination Date.\n\n#### **Section 2.3 Payments; Prepayments; Termination Prepayment**.\n\n(a) Notwithstanding anything else herein or elsewhere, the Obligations shall remain outstanding until such time as Payment in Full thereof shall have occurred. The Borrowers shall pay in cash to the Lender the outstanding principal amount of the Obligations and all other Obligations on the Termination Date as necessary to constitute Payment in Full; provided that, notwithstanding anything to the contrary in the Loan Documents, to the extent the Termination Date would occur after such date, then the Termination Date shall automatically be moved to the same earlier date without any action or notice of any Person.\n\n(b) Loans may be prepaid from time to time, without penalty or premium. The outstanding balance of the Loans (principal and interest) shall be paid in full on the Maturity Date.\n\n(c) Each payment, repayment, redemption and prepayment by the Borrowers shall be applied (i) first, to all fees, costs and expenses owed to the Lender under the Loan Documents, (ii) second, to accrued and unpaid interest owed to the Lender under the Loan Documents, (iii) third, to the principal amount of the Loans owed to the Lender, and, (iv) fourth, to all other Obligations owing to the Lender. Once paid, such payments shall not be refundable under any circumstances.\n\n#### **Section 2.4 Payment Details**.\n\nAll payments of the Obligations by the Borrowers hereunder and under any of the other Loan Documents shall be made without setoff, counterclaim or defense of any kind, free of (and without deduction for) any taxes, and shall be paid in cash in U.S. Dollars in immediately available funds, in each case, (a) to the Lender and (b) applied in accordance with Section 2.3(c). The Borrowers shall pay all and any fees, costs and expenses (administrative or otherwise) imposed by banks, clearing houses or any other financial institutions in connection with making any payments under any of the Loan Documents.\n\n#### **Section 2.5 Interest**.\n\n(a) The outstanding principal amount of the Loans and any other amounts and Obligations shall bear interest at the Interest Rate (calculated on the basis of the actual number of days elapsed in each month based on a year of 360 days). Interest shall become due and payable upon the Termination Date.\n\n(b) Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable on demand in cash.\n\n### **ARTICLE 3**\n\n#### **REPRESENTATIONS AND WARRANTIES**\n\n#### **Section 3.1 Representations and Warranties of the Borrowers**.\n\nIn order to induce the Lender to make the Loans pursuant to this Agreement and to induce the Lender to enter into this Agreement, the Borrowers, solely and severally, represent and warrant on (i) the Closing Date, (ii) each Borrowing Date, and (iii) each date such representation or warranty is remade or deemed remade in any Loan Document or otherwise, as applicable, in each case, that:\n\n(a) Order. The DIP Order is in full force and effect and has not been vacated, reversed or rescinded or, without the prior written consent of the Lender, amended or modified and no appeal of such DIP Order has been timely filed or, if timely filed, no stay pending such appeal is currently effective.\n\n#### (b) Bankruptcy Matters.\n\n(i) The Chapter 11 Cases were validly commenced, and (x) proper notice under the circumstances of the DIP Motion has been given, and (y) the hearing for the approval of the DIP Order has been held by the Bankruptcy Court.\n\n(ii) After the entry of the DIP Order, each Borrower's Obligations will constitute a DIP Claim (as defined in the DIP Order) and the Liens securing the respective Obligations shall be senior secured, valid, enforceable, and automatically and properly perfected Liens on the respective DIP Collateral, having the priorities set forth in the DIP Order, subject in all respects to the Carve-Out and other exceptions set forth in the DIP Order and the Loan Documents.\n\n(c) Security Interests. This Agreement and the DIP Order are effective to create, in favor of the Lender, a legal, valid, binding, enforceable Lien on and security interest in all right, title and interest of the Borrowers in their respective DIP Collateral, in each case, subject to the Carve-Out. Pursuant to the terms of the DIP Order, no filings or other action (including the taking of possession or control) are or shall at any time be necessary to perfect, preserve or protect such Liens and security interests; provided, that, notwithstanding the foregoing, the Borrowers shall have made (or authorized the making by the Lender of) all filings, in each case, to the extent deemed reasonably necessary and/or appropriate, and requested, by the Lender.\n\n#### **Section 3.2 Borrowers' Acknowledgment**.\n\nThe Borrowers acknowledge that they have made the representations and warranties referred to in Section 3.1 with the intention of persuading the Lender to enter into the Loan Documents and that the Lender has entered into the Loan Documents on the basis of, and in full reliance on, each of such representations and warranties, each of which shall survive the execution and delivery of this Agreement, the other Loan Documents, the making of any Loan until (a) all of the Obligations have been repaid in full and (b) all of the Commitments are no longer available or terminated.\n\n### **ARTICLE 4**\n\n### **CONDITIONS PRECEDENT**\n\n### **Section 4.1 Conditions Precedent to Closing Date and Initial Borrowing**.\n\nThe occurrence of the Closing Date, and the effectiveness of this Agreement and of the Lender's obligations to make any Loans hereunder, are subject to the satisfaction (or waiver by the Lender, which such waiver may be communicated via e-mail by the Lender or its counsel) of the following conditions precedent, in addition to the conditions precedent set forth in Section 4.2:\n\n(a) the Lender shall have received a copy of this Agreement and each other Loan Document, in each case, duly executed and delivered to the Lender by each of the signatories thereto;\n\n(b) no Default or Event of Default shall have occurred or would result from such initial Borrowing or the use of the proceeds therefrom;\n\n(c) the DIP Order (i) shall have been entered by the Bankruptcy Court, (ii) shall be in full force and effect on the Closing Date, (iii) shall not have been vacated or reversed, (iv) shall not be subject to a stay, and (v) shall not have been modified or amended in any respect without the prior written consent of the Lender;\n\n(d) the DIP Order shall be effective to create, in favor of the Lender, valid, binding, enforceable and fully and automatically perfected Liens on the DIP Collateral, on the basis and with the priority set forth therein; and\n\n(e) such other conditions, documents and deliverables that the Lender may reasonably request.\n\n# **Section 4.2 Conditions Precedent to all Borrowings**.\n\nThe obligation of the Lender to make any Loan hereunder shall be subject to the fulfillment and satisfaction of all of the following conditions:\n\n(a) the Closing Date shall have occurred;\n\n(b) no Default or Event of Default shall exist at the time of, or immediately result from, the making of such Loan;\n\n(c) there shall not exist any proceeding, order, injunction or decree of any Governmental Authority or in any court restraining or prohibiting (or attempting to restrain or prohibit) the funding of the Loan hereunder;\n\n(d) the proceeds of such Loan shall be directed and requested for use in accordance with Section 2.1;\n\n(e) the payment by the Borrowers of all costs and expenses required to be paid on such Borrowing Date (including pursuant to Section 6.3) pursuant to this Agreement and the other Loan Documents (which amounts, at the sole option of the Lender, may be offset against the proceeds of such Loan);\n\n(f) the Lender shall have received a duly executed written notice from the Borrower complying with the requirements of Section 2.2(b);\n\n(g) the DIP Order (a) shall be in full force and effect, (b) shall not have been reversed, vacated or stayed, (c) shall not have become the subject of any appeal or challenge, and (d) shall not have been amended, supplemented or otherwise modified without the prior written consent of the Lender; and\n\n(h) there shall not have occurred since the Closing Date any development or event which, individually or in the aggregate with other such circumstances, has had or could reasonably be expected to have, a Material Adverse Effect.\n\nEach Notice of Borrowing shall constitute a representation by the Borrowers that the foregoing conditions are satisfied (or, as applicable, have been waived) on and as of each of (i) the date of such Notice of Borrowing, (ii) the requested Borrowing Date and (iii) the date on which such Loan is funded or made (or deemed funded or made, as applicable).\n\n#### **ARTICLE 5**\n\n#### **PARTICULAR COVENANTS AND EVENTS OF DEFAULT**\n\n#### **Section 5.1 Affirmative Covenants**.\n\nUntil Payment in Full, each Borrower shall—not later than 1:00 p.m. New York City time on the first day of each calendar month (commencing with the first calendar month after the Closing Date) deliver to the Lender an operating report accounting for the receipt, administration, and disposition of all property over the prior month. For the avoidance of doubt, the Borrowers' obligations under this Section 5.1 shall be satisfied by the timely filing by the Borrowers of the monthly operating reports required by, and containing the information described in, 28 C.F.R. § 58.8.\n\n#### **Section 5.2 Negative Covenants**.\n\nUntil Payment in Full and as long as any Commitments or Obligations are outstanding, each Borrower shall not:\n\n(a) other than the claims and Liens of the Lender arising from this Agreement, and except for the Carve-Out, incur, create, assume, suffer to exist or permit, or file any motion seeking, any other claim which is *pari passu* with, or senior to, the claims and Liens of, the Lender;\n\n(b) make or permit to be made any amendment or change to the DIP Order, as applicable, without the consent of the Lender;\n\n(c) commence any adversary proceeding, contested matter or other action asserting any claims or defenses or otherwise against the Lender with respect to any Loan Document, or any of the Liens, claims, rights, benefits or protections granted hereunder or thereunder, or any of the transactions contemplated hereby or thereby; and\n\n(d) subject to the DIP Order, object to, contest, delay, prevent, or interfere in any manner with, the exercise of any rights and remedies by the Lender with respect to the DIP Collateral following the occurrence and during the continuance of an Event of Default.\n\n#### **Section 5.3 General Acceleration Provision upon Events of Default**.\n\nIf one or more of the events specified in this Section 5.3 shall have happened or occurred (each, an \"Event of Default\"), the Lender may, by written notice to the Borrowers (subject to Section 5.4(a), which, for the avoidance of doubt, shall not require any such notice and shall occur automatically), declare the principal of, and accrued and unpaid interest on, all of the Loans and other Obligations or any part of any of them to be, and the same shall thereupon become, immediately due and payable and shall immediately terminate all of the remaining Commitments, in each case, without any further notice and without any presentment, demand or protest of any kind, all of which are hereby expressly waived by the Borrowers, and take any further action available at law or in equity or that are provided in the Loan Documents, including the sale or transfer of the Loan and other Obligations and all other rights acquired in connection with the Loan or the other Obligations or under the Loan Documents:\n\n(a) the Borrowers shall have failed to pay within three business days when and as required to be paid herein or in any other Loan Document any amount or Obligation payable hereunder or pursuant to any other Loan Document;\n\n(b) any authorization of a Governmental Authority necessary for the execution, delivery or performance of any Loan Document or for the validity or enforceability of any of the Obligations under any Loan Document is not given, is withdrawn or ceases to remain in full force or effect;\n\n(c) (A) any provision of any Loan Document shall for any reason cease to be valid and binding on or enforceable against any Borrower thereto; (B) any Borrower shall so state in writing or bring an action to limit its obligations or liabilities under any Loan Document; (C) the DIP Order shall for any reason (other than pursuant to the terms thereof) cease to create a valid security interest in the DIP Collateral; or (D) any of the Obligations of any Borrower shall cease to be secured by all of such Borrower's DIP Collateral; or\n\n(d) there shall have occurred any of the following in the Chapter 11 Cases:\n\n(i) other than the claims and Liens of the Lender arising from this Agreement, and except for the Carve-Out, any Borrower shall incur, create, assume, suffer to exist or permit, or file any motion seeking, any other claim which is *pari passu* with, or senior to, the claims and Liens of the Lender;\n\n(ii) the Bankruptcy Court enters an order or the Borrowers file any motion or any request for relief—in each case without the support, or over the objection, of the Chapter 11 Trustee to (a) dismiss any of the Chapter 11 Cases, (b) convert any of the Chapter 11 Cases to a case under chapter 7 of the Bankruptcy Code, (c) appoint a trustee or examiner (other than the Chapter 11 Trustee) with expanded powers beyond those set forth in section 1106 of the Bankruptcy Code; or (d) confirming a plan that does not provide for Payment in Full, not later than the effective date, of all Obligations hereunder;\n\n(iii) the Bankruptcy Court enters an order granting relief terminating, annulling, or modifying the automatic stay (as set forth in section 362 of the Bankruptcy Code) to authorize any party to proceed against any material asset worth in excess of \\$50,000 of the Borrowers or in such a manner that would adversely affect the Borrowers' ability to operate their businesses in the ordinary course; or\n\n(iv) the failure of the Borrowers to comply with any provision of the DIP Order, which remains uncured for a period of two (2) Business Days after the receipt of written notice of such event or is not otherwise waived in accordance with the terms thereof; provided, however, that the DIP Lender will not take any enforcement action, whether by demand, foreclosure or other enforcement action, to collect on any obligations arising hereunder by realizing upon the whole or part of the Coop Interest or Cash Deposit unless and until there is full payment the Allowed SN Senior Debt Claim and other SN Senior Debt, to the extent allowed.\n\n### **Section 5.4 Remedies**.\n\n(a) If any Event of Default exists, subject to the DIP Order, the Lender may in its discretion do any one or more of the following from time to time (in addition to any and all other things as provided elsewhere in this Agreement):\n\n- (i) terminate, reduce or condition any Commitment;\n- (ii) require the Borrowers to cash collateralize the Obligations; and\n\n(iii) exercise any other rights, remedies, powers and privileges afforded under the Loan Documents or any other agreement, pursuant to the DIP Order and any other order of the Bankruptcy Court, by law (including under the Bankruptcy Code and other applicable law), at equity and otherwise, including the rights and remedies of a secured party under the UCC.\n\nNotwithstanding the foregoing, upon the occurrence and continuance of any Event of Default, the Lender may waive such Event of Default, in its sole discretion, subject to the terms of this Agreement, the DIP Order and applicable law.\n\n#### **ARTICLE 6**\n\n#### **MISCELLANEOUS**\n\n#### **Section 6.1 Notices**.\n\nAny notices or other information (including any financial information) required or permitted to be given under the terms hereof shall be sent by certified or registered mail (return receipt requested) or delivered personally or by courier (including a recognized overnight delivery service) or by facsimile or by electronic mail and shall be effective five (5) days after being placed in the mail, if mailed by regular United States mail, or upon receipt, if delivered personally or by courier (including a recognized overnight delivery service) or by facsimile or when received by electronic mail in each case addressed to a party as follows (or such other address, facsimile or electronic mail address provided by such party to such other parties pursuant to the below (or such later address, facsimile or electronic mail address provided in accordance herewith):\n\nIf to any Borrower:\n\nPaul Hastings LLP 200 Park Avenue New York, NY 10166 Attention: Doug Barron and Alex Bongartz Email: dougbarron@paulhastings.com; alexbongartz@paulhastings.com\n\nIf to Lender:\n\nLuc A. Despins in his capacity as the chapter 11 trustee c/o Paul Hastings LLP 200 Park Avenue New York, NY 10166 Attention: Luc Despins Email: lucdespins@paulhastings.com\n\nWith a copy to (which shall not be deemed to constitute notice):\n\nPullman & Comley, LLC 850 Main Street Bridgeport, CT 06601 Attention: Irve Goldman Email: igoldman@pullcom.com\n\n#### **Section 6.2 Waiver of Notice**.\n\nWhenever any notice is required to be given to the Lender or the Borrowers under any of the Loan Documents, a waiver thereof in writing signed by the Person or Persons entitled to such notice, whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice.\n\n#### **Section 6.3 Cost and Expense Reimbursement**.\n\nEach Borrower agrees to pay on or prior to the Closing Date and, within one (1) Business Day after delivery of an invoice therefor, after the Closing Date, (a) all fees, costs and expenses of creating and perfecting Liens in such Borrower's DIP Collateral in favor of the Lender pursuant to any Loan Document, including filing and recording fees, expenses and taxes, search fees, title insurance premiums, (b) all costs and expenses incurred by the Lender in connection with the custody or preservation of any of such Borrower's DIP Collateral, (c) all fees, costs and expenses, incurred by the Lender and its professionals relating to efforts to protect, evaluate, assess or dispose of any of such Borrower's DIP Collateral, and (d) all fees, costs and expenses incurred by the Lender and its professionals in enforcing any of the Loan Documents or any Obligations of, or in collecting any payments due from, such Borrower hereunder or under the other Loan Documents (including in connection with the sale of, collection from, or other realization upon any of such Borrower's DIP Collateral or the enforcement of the Loan Documents). Without limiting any of the foregoing provisions of this Section 6.3, any action taken by any Borrower under or with respect to any Loan Document, even if required under any Loan Document or at the request of the Lender, shall be at the sole expense of such Borrower, and the Lender shall not be required under any Loan Document to reimburse any Borrower therefor. The obligations and provision contained in this Section 6.3 shall survive the termination of this Agreement and the repayment of the Obligations.\n\n### **Section 6.4 Governing Law; Venue; Jurisdiction; Service of Process; Waiver of Jury Trial**.\n\nAll questions concerning the construction, validity, enforcement and interpretation of this Agreement and, unless otherwise expressly stated therein, the other Loan Documents shall be governed by and construed and enforced in accordance with the laws of the State of New York applicable to contracts made and to be performed in such State. Each Party hereby irrevocably submits to the exclusive jurisdiction of the Bankruptcy Court and, solely to the extent that the Bankruptcy Court does not have (or abstains from exercising) jurisdiction over any matter, the state and federal courts sitting in the City of New York, borough of Manhattan for the adjudication of any dispute hereunder or under the other Loan Documents or in connection herewith or with the other Loan Documents or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, or that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding; provided that nothing in this Agreement or in any other Loan Document shall limit the right of the Lender to commence any suit, action or proceeding in federal, state or other court of any other jurisdiction to the extent the Lender determines that such suit, action or proceeding is necessary or appropriate to exercise its rights or remedies under this Agreement or any of the other Loan Documents. Each Party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such Party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. THE PARTIES HERETO, TO THE EXTENT PERMITTED BY LAW, WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING ARISING OUT OF, IN CONNECTION WITH OR RELATING TO, THIS AGREEMENT, THE OTHER LOAN DOCUMENTS AND ANY OTHER TRANSACTION CONTEMPLATED HEREBY AND THEREBY. THIS WAIVER APPLIES TO ANY ACTION, SUIT OR PROCEEDING WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE. EACH PARTY HERETO (A) CERTIFIES THAT NO OTHER PARTY AND NO AGENT, REPRESENTATIVE OR OTHER PERSON AFFILIATED WITH OR RELATED TO ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THE LOAN DOCUMENTS, AS APPLICABLE, BY THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 6.4.\n\n#### **Section 6.5 Entire Agreement; Amendments**.\n\n(a) The Loan Documents contain the entire understanding of the Parties with respect to the matters covered thereby and supersede any and all other written and oral communications, negotiations, commitments and writings with respect thereto.\n\n(b) No amendment, restatement, modification, supplement, change, termination or waiver of any provision of this Agreement or the other Loan Documents (other than any landlord agreement or bailee or mortgagee waiver, each of which may be amended, restated, supplemented, changed, terminated or waived in accordance with the terms thereof), and no consent to any departure by any Borrower therefrom, shall in any event be effective without the written concurrence of the Borrowers and the Lender; provided that no such amendment, restatement, modification, change, termination, waiver or consent shall, without the consent of the Lender, do any of the following: (i) reduce any Loan; (ii) postpone or accelerate the Maturity Date or other scheduled final maturity date of any Loan, or postpone or accelerate the date or reduce the amount of any scheduled payment of principal of any Loan; (iii) postpone the date on which any Obligation is payable; (iv) decrease the interest rate borne by any Loan or the amount of any Obligation payable hereunder; (v) amend this Section 6.5 or any provision of this Agreement or any other Loan Documents providing for consent or other action by all Lender; (vi) change in any manner any provision of this Agreement that by its terms, expressly requires the approval or consent of the Lender; (vii) release or subordinate any Lien granted in favor of the Lender with respect to all or substantially all of any Borrower's DIP Collateral, other than in accordance with the terms of the Loan Documents; or (viii)(A) change or have the effect of changing the priority of any payments (including voluntary and mandatory prepayments), Liens or proceeds of DIP Collateral (including as a result in whole or in part of allowing the issuance or incurrence, pursuant to this Agreement, the other Loan Documents or otherwise, of new loans or other indebtedness having any priority over any of the Obligations in respect of payments, Liens, DIP Collateral or proceeds of DIP Collateral, in exchange for any Obligations or otherwise), or (B) advance the date fixed for, or increase, any scheduled installment of principal due to the Lender under any Loan Document.\n\n#### **Section 6.6 Severability**.\n\nIf any provision of this Agreement or any of the other Loan Documents shall be invalid, illegal or unenforceable in any respect under any law, the validity, legality and enforceability of the remaining provisions hereof or thereof shall not in any way be affected or impaired thereby. The Parties shall endeavor in good faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provision.\n\n#### **Section 6.7 Counterparts**.\n\nThis Agreement may be executed in several counterparts, and by each Party on separate counterparts, each of which and any photocopies, facsimile copies and other electronic methods of transmission thereof shall be deemed an original, but all of which together shall constitute one and the same agreement.\n\n#### **Section 6.8 Survival**.\n\n(a) In addition to Section 3.2, this Agreement and all agreements, representations and warranties and covenants made in the Loan Documents, and in any document, certificate or statement delivered pursuant thereto or in connection therewith shall be considered to have been relied upon by the other Parties and shall survive the execution and delivery of this Agreement and the other Loan Documents and the making of the Loans hereunder or thereunder regardless of any investigation made by any such other Party or on its behalf, and shall continue in force until all Obligations and other amounts payable under the Loan Documents shall have been fully paid in accordance with the provisions hereof and thereof. The Lender shall not be deemed to have waived, by reason of making the Loans, any Event of Default that may arise by reason of such representation or warranty proving to have been false or misleading, notwithstanding that the Lender may have had notice or knowledge of any such Event of Default or may have had notice or knowledge that such representation or warranty was false or misleading at the time such Loan was made.\n\n(b) All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive (and shall continue to be made in accordance with the terms hereof and thereof after) the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Lender, regardless of any investigation made by the Lender or on its behalf and notwithstanding that the Lender may have had notice or knowledge of any Default or Event of Default at the time of any Loan, and shall continue in full force and effect (and shall continue to be made in accordance with the terms of the applicable Loan Documents) as long as any Loan or any other Obligation hereunder or under the other Loan Documents shall remain unpaid or unsatisfied.\n\n(c) Notwithstanding anything to the contrary in the Loan Documents, the obligations of the Borrowers under Section 2.5 and the obligations of the Borrowers and the Lender under this Article 6 shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loan and the other Obligations or the termination of this Agreement or any of the other Loan Documents or any provision hereof or thereof.\n\n### **Section 6.9 No Waiver**.\n\nNeither the failure of, nor any delay on the part of, any Party in exercising any right, power or privilege hereunder, or under any agreement, document or instrument mentioned herein or under any other Loan Document, shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege hereunder, under any other Loan Document or under any other agreement, document or instrument mentioned herein, preclude other or further exercise thereof or the exercise of any other right, power or privilege; nor shall any waiver of any right, power, privilege or default hereunder, under any other Loan Document or under any agreement, document or instrument mentioned herein, constitute a waiver of any other right, power, privilege or default or constitute a waiver of any default of the same or of any other term or provision. No course of dealing and no delay in exercising, or omission to exercise, any right, power or remedy accruing to the Lender upon any breach, Default or Event of Default under this Agreement, any other Loan Document or any other agreement shall impair any such right, power or remedy or be construed to be a waiver thereof or an acquiescence therein; nor shall the action of the Lender in respect of any such breach, Default or Event of Default or any acquiescence by it therein, affect or impair any right, power or remedy of the Lender in respect of any other breach, Default or any Event of Default. All rights and remedies herein or in the other Loan Documents provided are cumulative and not exclusive of any rights or remedies otherwise provided by (or available at) law or in equity.\n\n#### **Section 6.10 Several Liability**.\n\nEach Borrower shall be solely and severally liable for their respective obligations hereunder and under the other Loan Documents.\n\n#### **Section 6.11 No Third Parties Benefited**.\n\nThis Agreement is made and entered into for the sole protection and legal benefit of the Borrowers and the Lender, and their successors and permitted assigns, and no other Person shall be a direct or indirect legal beneficiary of, or have any direct or indirect cause of action or claim in connection with, this Agreement or any of the other Loan Documents. The Lender shall not have any obligation to any Person not a party to this Agreement or the other Loan Documents.\n\n### **Section 6.12 Binding Effect**.\n\nThis Agreement shall become effective when it shall have been executed by each of the Borrowers party hereto and the Lender party hereto and such executed counterparts have been delivered to the Lender pursuant to the terms of this Agreement. Thereafter, it shall be binding upon and inure to the benefit of, but only to the benefit of each Borrower hereto and the Lender and, in each case, their respective successors and permitted assigns.\n\n### **Section 6.13 Marshaling; Payments Set Aside**.\n\nThe Lender shall not be under any obligation to marshal any property in favor of any Borrower or any other Person or against or in payment of any Obligation. To the extent that the Lender receives a payment from the Borrowers from the proceeds of the DIP Collateral, from the exercise of its rights of setoff, from any enforcement action or otherwise, and such payment is subsequently, in whole or in part, invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other party, then to the extent of such recovery, the obligation or part thereof originally intended to be satisfied, and all Liens, rights and remedies therefor, shall be revived and continued in full force and effect as if such payment had not occurred.\n\n### **Section 6.14 No Waiver; Cumulative Remedies**.\n\nNo failure to exercise and no delay in exercising, on the part of the Lender, any right, remedy, power or privilege under any Loan Document, shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. No course of dealing between any Borrower, any Affiliate of any Borrower or the Lender shall be effective to amend, modify or discharge any provision of any of the Loan Documents.\n\n#### **Section 6.15 Right of Setoff**.\n\nThe Lender is hereby authorized, without notice or demand (each of which is hereby waived by each Borrower), at any time and from time to time during the continuance of any Event of Default and to the fullest extent permitted by applicable law, to set off and apply any and all deposits (whether general or special, time or demand, provisional or final) at any time held and other indebtedness, claims or other obligations at any time owing by the Lender or any of its Affiliates to or for the credit or the account of the Borrowers against any Obligation of any Borrower now or hereafter existing, whether or not any demand was made under any Loan Document with respect to such Obligation and even though such Obligation may be unmatured. The rights under this Section 6.15 are in addition to any other rights and remedies (including other rights of setoff) that the Lender or any of its Affiliates may have.\n\n#### **Section 6.16 DIP Order Controls**\n\nThe Borrowers and the Lender hereby expressly agree that, in the event of any conflict or inconsistency between this Agreement (or any other Loan Document), on the one hand, and the DIP Order, on the other hand, the DIP Order shall control. Notwithstanding anything to the contrary herein, the provisions of this Agreement are subject to the terms, covenants, conditions and provisions of, the DIP Order, as applicable. This Agreement is subject in all respects (including with respect to all obligations and agreements of the Borrowers provided for hereunder) to the terms of the DIP Order and, notwithstanding anything in the foregoing, the Borrowers shall not be required to undertake any obligation, make any agreement or take any action that is prohibited by the terms of the DIP Order.\n\n#### **ARTICLE 7**\n\n#### **DIP COLLATERAL**\n\n**Section 7.1 Grant of Security Interest**. To secure the prompt payment and performance of the Obligations, each Borrower hereby grants to the Lender a continuing security interest in and Lien upon (the \"DIP Lien\") all of the following property of such Borrower, and the proceeds of such property, whether now owned or hereafter acquired, and wherever located (the \"DIP Collateral\"): (a) Genever US's ownership interest in the Proprietary Lease and Shares (also referred to as the \"Coop Interest\"); (b) the proceeds of litigation commenced or to be commenced by Genever BVI or Genever US (the \"Borrowers' Litigation Claims\"), including, without limitation, the AIG Litigation; (c) any and all funds held in deposit accounts in the name of Genever US, including the Cash Deposit; and (d) Genever BVI's ownership interest in Genever US.\n\nThe DIP Liens shall include: (i) a fully perfected security interest pursuant to section 364(c)(2) in all DIP Collateral and the proceeds thereof that is not otherwise subject to a Lien, and (ii) a fully perfected junior security interest pursuant to section 364(c)(3) of the Bankruptcy Code in DIP Collateral subject to valid and perfected, and otherwise unavoidable liens at the commencement of the Chapter 11 Cases or that are perfected thereafter as permitted under section 546(b) of the Bankruptcy Code, subject, in each case, to the Carve-Out and the Allowed SN Senior Debt Claim and other SN Senior Debt to the extent allowed.\n\n**Section 7.2 Limitations**. The Lien on DIP Collateral granted hereunder is given as security only and shall not subject the Lender to, or in any way modify, any obligation or liability of the Borrowers relating to any DIP Collateral.\n\n**Section 7.3 Further Assurances**. Promptly, but in any event within three (3) Business Days after receipt of the Lender's written request, the Borrowers shall deliver such instruments and agreements, and shall take such actions, as the Lender deems appropriate under applicable law to evidence or perfect its Lien on any DIP Collateral, or otherwise to give effect to the intent of this Agreement.\n\n**Section 7.4 Protection of DIP Collateral**. All expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping any DIP Collateral of a Borrower, all taxes payable with respect to any DIP Collateral (including any sale thereof) of a Borrower, and all other payments required to be made by Lender to any Person to realize upon any DIP Collateral of a Borrower, shall be borne and paid by the applicable Borrower. The Lender shall not be liable or responsible in any way for the safekeeping of any DIP Collateral, for any loss or damage thereto (except for reasonable care in its custody while DIP Collateral is in the Lender's actual possession), for any diminution in the value thereof, or for any act or default of any warehouseman, carrier, forwarding agency or other Person whatsoever, but the same shall be at the applicable Borrower's sole risk. If any tax, assessments or other charges by any Governmental Authority is or may be imposed, or if any claim shall be made which, in the Lender's reasonable judgment, may possibly create a valid Lien on the DIP Collateral, the Lender may with concurrent notice to the Borrowers pay or remit such taxes, assessments or other charges, and each Borrower hereby indemnifies and holds the Lender harmless in respect thereof. The Lender will not pay or remit any taxes, assessments or charges to the extent that any applicable Borrower has properly contested such taxes, assessments or charges. The amount of any payment by the Lender under this Section 7.4 shall be payable by the applicable Borrower in cash on demand.\n\n**Section 7.5 Defense of Title**. Each Borrower shall at all times defend its title to its DIP Collateral and the Lender's Liens thereon against all Persons, claims and demands whatsoever, except (i) properly perfected and non-avoidable pre-petition Liens, including such Liens in connection with the Apartment, including but not limited to, any mechanics' or tax Liens and (ii) Liens perfected post-petition under section 546(b) of the Bankruptcy Code.\n\n### **[SIGNATURE PAGES FOLLOW]**\n\nIN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the first day written above.\n\n#### **BORROWERS:**\n\n**GENEVER HOLDINGS LLC**, a New York limited liability company\n\n> By: */s/ Luc A. Despins* Name: Luc A. Despins Title: Proxy Holder of Genever Holdings LLC\n\n#### **GENEVER HOLDINGS CORPORATION**, a\n\ncorporation organized under the laws of the British Virgin Islands\n\n> By: */s/ Luc A. Despins* Name: Luc A. Despins Title: Proxy Holder of Genever Holdings Corporation\n\n**LENDER:**\n\n**LUC A. DESPINS**, in his capacity as the Chapter 11 Trustee under the Chapter 11 Bankruptcy Code\n\n> By: */s/ Luc A. Despins* Name: Luc A. Despins Title: Chapter 11 Trustee\n\n#### **ANNEX A**\n\n#### **Commitments**\n\n| Lender                                                                                     | Commitment     |\n|--------------------------------------------------------------------------------------------|----------------|\n| Luc A. Despins, in his capacity as U.S. Trustee<br>under Chapter 11 of the Bankruptcy Code | \\$2,000,000.00 |\n| TOTAL                                                                                      | \\$2,000,000.00 |\n\n#### **EXHIBIT A**\n\n#### **Form of Notice of Borrowing**\n\n\\_\\_\\_\\_\\_\\_\\_\\_ \\_\\_\\_, 202\\_\n\nTo: Luc A. Despins in his capacity as the chapter 11 trustee c/o Paul Hastings LLP 200 Park Avenue New York, NY 10166 Attention: Luc Despins Email: lucdespins@paulhastings.com\n\nRe: Genever Holdings LLC and Genever Holdings Corporation\n\nLadies and Gentlemen:\n\nReference is made to the Multi-Draw Senior Secured Super-Priority Debtor-In-Possession Credit and Security Agreement, dated as of [•], 2023, by and among (i) Genever Holdings LLC, a New York limited liability company and a debtor and debtor-in-possession in the Chapter 11 Cases (\"Genever US\"), (ii) Genever Holdings Corporation, a corporation registered under the laws of the British Virgin Islands and a debtor and debtor-in-possession in the Chapter 11 Cases (\"Genever BVI\" and together with Genever US, the \"Borrowers\"), and (iii) the chapter 11 estate of Ho Wan Kwok (the \"Individual Debtor\"), acting through its representative, Luc A. Despins in his capacity as the chapter 11 trustee (the \"Chapter 11 Trustee\") of the Individual Debtor (such chapter 11 estate being the \"Lender\") (as may be amended, supplemented, restated or otherwise modified, renewed or replaced form time to time, the \"DIP Credit Agreement\"). Capitalized terms used and not defined herein shall have the meaning ascribed to them in the DIP Credit Agreement.\n\nBorrower hereby gives notice, pursuant to Section 2.2(b) of the DIP Credit Agreement, that it requests a Loan under the DIP Credit Agreement, and that in connection therewith, sets forth below the terms on which such Loan is requested to be made:\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\n(A) Principal amount of Loan: \\$[\\_\\_\\_\\_\\_\\_]\n\n- (B) Date of Loan (which is a Business Day):\n- (C) Use of proceeds: \\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nThe Borrowers hereby represent and warrant that all of the conditions contained in Article 4 of the DIP Credit Agreement have been satisfied on and as of the date hereof.\n\n[*Signature Page Follows*]\n\nVery truly yours,\n\n### **GENEVER HOLDINGS LLC**, a Borrower\n\nBy: \\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_ Name: Title:\n\n# **GENEVER HOLDINGS CORPORATION**, a Borrower\n\nBy: \\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_ Name: Title:\n\nCase 22-50073 Doc 2193 Filed 09/12/23 Entered 09/12/23 15:51:20 Page 45 of 48\n\n# **Exhibit B**\n\n**Checklist**\n\n# **CHECKLIST FOR MOTIONS AND ORDERS FOR USE OF CASH COLLATERAL AND POST- PETITION FINANCING**\n\nThis is to certify that the following checklist information reflects the substantive content of the motion and proposed order for use of cash collateral or for post-petition financing pursuant to 11 U.S.C. §§ 363 and/or 364 as indicated below:\n\n|                     | 1. Identification of Proceeding:                                                               |     |          |            |\n|---------------------|------------------------------------------------------------------------------------------------|-----|----------|------------|\n| a.                  | Preliminary motion/order                                                                       | Yes | No       | N/A        |\n| b.                  | Final motion/order                                                                             | Yes | No       | N/A        |\n| c.                  | Continuing use of cash collateral(§ 363)                                                       | Yes | No       | N/A        |\n| d.                  | New financing(§ 364)                                                                           | Yes | No       | N/A        |\n| e.                  | Combination of§§ 363 and 364 financing                                                         | Yes | No       | N/A        |\n| f.                  | Emergency hearing (immediate and irreparable harm)                                             | Yes | No       | N/A        |\n| 2. Representations: |                                                                                                |     |          |            |\n| a.                  | Brief history of Debtor's businesses and status of Debtor's prior<br>relationships with lender |     |          |            |\n| b.                  | Brief statement of purpose and necessity of financing                                          | Yes | No       | N/A        |\n|                     |                                                                                                | Yes | No       | N/A        |\n| c.                  | Brief statement oftype offinancing (i.e.) accounts receivable,                                 |     |          |            |\n|                     | inventory)                                                                                     | Yes | No       | N/A        |\n| d.                  | Are lender's pre-petition security interest(s) and liens deemed                                |     |          |            |\n|                     | valid, fully perfected and non-avoidable?                                                      | Yes | No       | N/A        |\n|                     | (i) Are there provisions to allow for objections to above?                                     | Yes | No       | N/A        |\n| e.                  | Is there a post-petition financing agreement between lender                                    | Yes | No       | N/A        |\n|                     | and Debtor?                                                                                    |     |          |            |\n| f.                  | If there is an agreement, are lender's post-petition security                                  |     |          |            |\n|                     | interests and liens deemed valid, fully perfected and                                          | Yes | No       | N/A        |\n|                     | non-avoidable?                                                                                 | Yes | No       | N/A        |\n| g.                  | Has lender's non-cash collateral been appraised?                                               |     |          |            |\n| h.                  | Insert date of latest appraisal.                                                               | Yes |          |            |\n| i.                  | Is Debtor's proposed budget attached?                                                          | Yes | No<br>No | N/A<br>N/A |\n| j.                  | Are all pre-petition loan documents identified?                                                |     |          |            |\n| k.                  | Are pre-petition liens?                                                                        | Yes | No       | N/A        |\n| l.                  | Are there pre-petition guaranties of debt?                                                     | Yes | No       | N/A        |\n| 3. Grant of Liens:  |                                                                                                |     |          |            |\n| a.                  | Do post-petition liens secure pre-petition debts?                                              | Yes | No       | N/A        |\n| b.                  | Is there cross-collateralization?                                                              |     |          |            |\n| c.                  | Is the priority of post-petition liens equal to or higher than                                 | Yes | No       | N/A        |\n|                     | existing liens?                                                                                | Yes | No       | N/A        |\n| d.                  | Do post-petition liens have retroactive effect?                                                |     |          |            |\n| e.                  | Are there restrictions on granting further liens or liens of equal                             | Yes | No       | N/A        |\n|                     | or higher priority?                                                                            |     |          |            |\n| f.                  | Is lender given liens on claims under§§ 506(c), 544-50                                         | Yes | No       | N/A        |\n|                     | and§§ 522?                                                                                     | Yes | No       | N/A        |\n|                     | (i) Are lender's attorney's fees to be paid?                                                   | Yes | No       | N/A        |\n|                     | (ii) Are Debtor's attorney's fees excepted from § 506(c)?                                      | Yes | No       | N/A        |\n| g.                  | Is lender given liens upon proceeds of causes of action                                        |     |          |            |\n|                     | under§§ 544, 547, and 548?                                                                     | Yes | No       | N/A        |\n|                     |                                                                                                |     |          |            |\n\n| Case 22-50073                                        | Doc 2193                                                                                  | Filed 09/12/23                                                                                  | Entered 09/12/23 15:51:20                                                                                                             | Page 47 of 48                       |                   |\n|------------------------------------------------------|-------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------|-------------------|\n| 4. Administrative Priority Claims:<br>a.<br>b.<br>c. |                                                                                           | Is lender given an administrative priority?<br>Is administrative priority higher than § 507(a)? | Is there a conversion of pre-petition secured claim to post-petition<br>administrative claim by virtue of use of existing collateral? | Yes<br>No<br>Yes<br>No<br>Yes<br>No | N/A<br>N/A<br>N/A |\n| 5. Adequate Protection(§ 361):                       |                                                                                           |                                                                                                 |                                                                                                                                       |                                     |                   |\n| a.                                                   |                                                                                           |                                                                                                 |                                                                                                                                       | Yes<br>No                           | N/A               |\n| b.                                                   | Is there post-petition debt service?<br>Is there a replacement/additional § 361 (1) lien? |                                                                                                 | Yes<br>No                                                                                                                             | N/A                                 |                   |\n| c.                                                   | Is the lender's claim given super-priority?                                               |                                                                                                 |                                                                                                                                       | Yes<br>No                           | N/A               |\n| d.                                                   | Are there guaranties?                                                                     |                                                                                                 |                                                                                                                                       | No<br>Yes                           | N/A               |\n| e.                                                   |                                                                                           | Is there adequate insurance coverage?                                                           |                                                                                                                                       | Yes<br>No                           | N/A               |\n| 6. Waiver/Release Claims v. Lender:                  |                                                                                           |                                                                                                 |                                                                                                                                       |                                     |                   |\n| a.                                                   |                                                                                           |                                                                                                 | Debtor waives or releases claims against lender, including,<br>but not limited to, claims under§§ 506(c), 544-550, 552, and           |                                     |                   |\n|                                                      | 553 ofthe Code?                                                                           |                                                                                                 |                                                                                                                                       | Yes<br>No                           | N/A               |\n| b.                                                   |                                                                                           |                                                                                                 | Does the Debtor waive defenses to claim or liens of lender?                                                                           | Yes<br>No                           | N/A               |\n| c.                                                   |                                                                                           | Is the proposed lender also the pre-petition lender?                                            |                                                                                                                                       | Yes<br>No                           | N/A               |\n| d.                                                   | New post-petition lender?                                                                 |                                                                                                 |                                                                                                                                       | Yes<br>No                           | N/A               |\n| e.                                                   | Is the lender an insider?                                                                 |                                                                                                 |                                                                                                                                       | Yes<br>No                           | N/A               |\n\n### **7. Modification of Stay:**\n\n| a. | Is any modified lift of stay allowed?                                | Yes | No | N/A |\n|----|----------------------------------------------------------------------|-----|----|-----|\n| b. | Will the automatic stay be lifted to permit lender to exercise       |     |    |     |\n|    | self-help upon default without further order?                        | Yes | No | N/A |\n| c. | Are there any other remedies exercisable without further order       |     |    |     |\n|    | of court?                                                            | Yes | No | N/A |\n| d. | Is there a provision that any future modification of order shall not |     |    |     |\n|    | affect status ofDebtor's post-petition obligations to lender?        | Yes | No | N/A |\n|    |                                                                      |     |    |     |\n\n# **8. Creditors' Committee**\n\n| a. | Has creditors' committee been appointed? | Yes | No | N/A |\n|----|------------------------------------------|-----|----|-----|\n| b. | Does creditors' committee consent?       | Yes | No | N/A |\n\n| Case 22-50073      | Doc 2193<br>Filed 09/12/23<br>Entered 09/12/23 15:51:20<br>9. Restrictions on Parties in Interest:                       | Page 48 of 48                        |\n|--------------------|--------------------------------------------------------------------------------------------------------------------------|--------------------------------------|\n| a.                 | Is a plan proponent restricted in any manner, concerning<br>modification of lender's rights, liens and/or causes?        |                                      |\n| b.                 | Is the Debtor prohibited from seeking to enjoin the lender in<br>pursuit of rights?                                      | Yes<br>No<br>N/A                     |\n| c.                 | Is any party in interest prohibited from seeking to modify<br>this order?                                                | Yes<br>No<br>N/A                     |\n| d.                 | Is the entry of any order conditioned upon payment of debt<br>to lender?                                                 | Yes<br>No<br>N/A                     |\n| e.                 | Is the order binding on subsequent trustee on conversion?                                                                | Yes<br>No<br>N/A<br>Yes<br>No<br>N/A |\n| 10. Nunc Pro Tunc: |                                                                                                                          |                                      |\n| a.                 | Does any provision have retroactive effect?                                                                              | Yes<br>No<br>N/A                     |\n|                    | 11. Notice and Other Procedures:                                                                                         |                                      |\n| a.                 | Is shortened notice requested?                                                                                           | Yes<br>No<br>N/A                     |\n| b.                 | Is service requested to shortened list?                                                                                  | Yes<br>No<br>N/A                     |\n| c.                 | Is time to respond to be shortened?                                                                                      | Yes<br>No<br>N/A                     |\n| d.                 | If final order sought, have 15 days elapsed since service of                                                             |                                      |\n|                    | motion pursuant to FRBP 4001(b)(2)?                                                                                      | Yes<br>No<br>N/A                     |\n| e.                 | If preliminary order sought, is cash collateral necessary to                                                             |                                      |\n|                    | avoid immediate and irreparable harm to the estate pending                                                               |                                      |\n|                    | a final hearing?                                                                                                         | Yes<br>No<br>N/A                     |\n| f.                 | Is a Certificate of Conference included?                                                                                 | Yes<br>No<br>N/A                     |\n| g.                 | Is a Certificate of Service included?                                                                                    | Yes<br>No<br>N/A                     |\n| h.                 | Is there verification of transmittal to U.S. Trustee included                                                            |                                      |\n|                    | pursuant to FRBP 9034?                                                                                                   | Yes<br>No<br>N/A                     |\n| i.                 | Has an agreement been reached subsequent to filing motion?<br>i. If so, has notice of the agreement been served pursuant | Yes<br>No<br>N/A                     |\n|                    | to FRBP 4001 (d)(l)?                                                                                                     | Yes<br>No<br>N/A                     |\n|                    | ii. Is the agreement in settlement of motion pursuant                                                                    |                                      |\n|                    | to FRBP 4001 (d)(4)?                                                                                                     | Yes<br>No<br>N/A                     |\n|                    | iii. Does the motion afford reasonable notice of material                                                                |                                      |\n|                    | provisions of the agreement pursuant to                                                                                  |                                      |\n|                    | FRBP 4001(d)(4)?                                                                                                         | Yes<br>No<br>N/A                     |\n|                    | iv. Does the motion provide for opportunity for hearing                                                                  |                                      |\n|                    | pursuant to FRBP 9014?                                                                                                   | Yes<br>No<br>N/A                     |\n|                    |                                                                                                                          |                                      |\n\n**Signed on** August 23, 2023\n\n By: /s/ Douglass Barron","body_zh":"美国康涅狄格州联邦破产法院布里奇波特分院\n\n------------------------------------------------------x　关于：案卷编号 2110\n\n债务人。　:\n:　（合并管理）\nHO WAN KWOK（郭文贵）等人，1　:\n:　案号 22-50073 (JAM)\n关于：　:\n:　第11章\n------------------------------------------------------x　:\n\n裁定：（I）授权第11章受托人根据《破产法典》第363条提供融资；（II）授权 GENEVER US 和 GENEVER BVI 根据《破产法典》第364条取得申请后融资；（III）授予非优先留置权并规定超级优先行政费用债权；（IV）修改自动中止；以及（V）给予相关救济\n\n根据 Genever Holdings LLC（Genever Holdings有限责任公司，以下简称“Genever US”）、Genever Holdings Corporation（Genever Holdings公司，以下简称“Genever BVI”）及 Luc A. Despins（卢克·A·德斯平斯）以其作为 Ho Wan Kwok（郭文贵，以下简称“个人债务人”）第11章受托人（以下简称“受托人”）的身份，在上述合并管理案件（以下简称“第11章案件”）中提出的动议（以下简称“动议”2），请求本院依据《美国法典》第11编（以下简称“《破产法典》”）第105(a)、361、362、363、364、503、506及507条、《联邦破产程序规则》（以下简称“《破产规则》”）第2002、4001、6003、6004及9014条，以及《康涅狄格州联邦破产法院地方规则》（以下简称“《地方规则》”）第4001-3条，作出终局裁定（以下简称“DIP裁定”），其中包括：（i）授权 Genever US 和 Genever BVI（以下简称“DIP借款人”）从郭文贵的第11章财产（以下简称“DIP贷款人”，并与DIP借款人合称“动议方”）取得有担保的\n\n1 本第11章案件中的债务人为 Ho Wan Kwok（郭文贵，亦称 Guo Wengui、Miles Guo 和 Miles Kwok，以及众多其他别名）（税务识别号码后四位：9595）、Genever Holdings LLC（税务识别号码后四位：8202）和 Genever Holdings Corporation。受托人、Genever Holdings LLC 和 Genever Holdings Corporation 的邮寄地址为：Paul Hastings LLP, 200 Park Avenue, New York, NY 10166，c/o Luc A. Despins，作为 Ho Wan Kwok 财产的受托人（仅用于通知和通信）。\n\n2 本文中使用但未另行定义的大写术语，应具有动议中规定的含义。\n\n申请后融资，即总本金金额最高达 $2,000,000 的非优先有担保债务人占有融资信贷安排，其形式为随附于本裁定附件1的DIP融资信贷协议（该协议以下简称“DIP信贷协议”）；（ii）按本文更详细说明的方式，授予有利于DIP贷款人的相关留置权和超级优先债权；（iii）在必要范围内修改自动中止；以及（iv）授权受托人作为DIP贷款人的代表订立DIP信贷协议，均依照本DIP裁定规定的条款和条件。\n\n本院已审阅动议及于 September 12, 2023 举行的听证会（以下简称“DIP听证会”）上为审议是否作出本DIP裁定而提出的论点；并且已依照《破产规则》第2002、4001、6003、6004及9014条和所有适用的《地方规则》，就DIP听证会作出适当且充分的通知；且DIP听证会已举行并结束；且对动议所请求救济提出的一切异议（如有）均已撤回、解决或被本院驳回；且本院已认定，动议中载明的法律和事实依据确立了给予本文救济的正当理由；且该等救济公平、合理，符合动议方、其财产、其债权人及所有利害关系方的最佳利益，并且对于保存DIP借款人财产的价值至关重要；且动议方订立DIP信贷协议看来是DIP借款人及受托人审慎且合理行使商业判断的结果；并基于本院此前进行的全部程序，经适当审议且理由充分，本院作出以下事实认定及法律结论：3\n\nA. 申请日期及受托人的任命。Genever US 于 October 12, 2020 在 New York Bankruptcy Court（纽约破产法院）提交了其自愿第11章申请。于 February 15, 2022，个人债务人向本院提交了根据《破产法典》第11章请求救济的自愿申请。根据日期为 July 8, 2022 的命令，本院批准了受托人的遴选。于 October 11, 2022，Genever BVI 向本院提交了其自愿第11章申请。其后不久，根据日期为 November 3, 2022 的命令，纽约破产法院批准了受托人和 Genever US 将 Genever US 第11章案件的审理地移送至本院的联合动议。根据日期为 November 21, 2022 的命令，本院批准对 Genever US、Genever BVI 及个人债务人的第11章案件进行合并管理。\n\nB. 管辖权及审理地。本院依据 28 U.S.C. §§ 157 and 1334 以及 United States District Court for the District of Connecticut（康涅狄格州联邦地区法院）的移交管辖常设命令，对本事项具有管辖权。本事项属于 28 U.S.C. § 157(b) 所称的核心程序。依据 28 U.S.C. §§ 1408 and 1409，本地区为适当审理地。本动议所请求救济的法定依据为《破产法典》第105(a)、361、362、363、364、503、506及507条、《破产规则》第2002、4001、6003、6004及9014条，以及《地方规则》第4001-3条。\n\nC. 委员会的成立。于 March 21, 2022，United States Trustee（美国受托人）在个人债务人的第11章案件中任命了无担保债权人官方委员会（以下简称“委员会”）。第11章案件中未任命任何审查员。\n\n3 本文所载事实认定和法律结论构成本院依照《破产规则》第7052条作出的事实认定和法律结论；该条通过《破产规则》第9014条适用于本程序。\n\n等值及公平对价，并构成可获得的最佳融资，且（ii）在适用的范围内，符合完全公平标准。\n\n(e) 善意贷款人。DIP融资是以下事项的结果：（i）DIP借款人合理且知情地确定，DIP贷款人提供了取得关键申请后融资的最有利条款；以及（ii）DIP借款人和受托人作为个人债务人财产代表所作的善意考量。DIP融资安排的条款和条件在该等情形下属合理且适当。此外，除动议所述外，未向DIP融资安排的任何一方提供任何对价。DIP贷款及DIP借款人根据DIP信贷协议条款欠付DIP贷款人的任何义务，均由DIP贷款人善意提供，并明确依赖《破产法典》第364(e)条所提供的保护。若本DIP裁定或其任何条款在上诉或其他情况下被撤销、推翻或修改，DIP贷款人（及其任何继承人和受让人）均有权获得《破产法典》第364(e)条的完全保护。\n\n(f) DIP融资安排所得款项的使用。DIP借款人将依照本裁定并按照DIP信贷协议的规定使用DIP融资安排所得款项，且仅用于《破产法典》允许的目的。\n\n(g) 《破产法典》第506(c)条。DIP贷款人有权获得本文规定的对《破产法典》第506(c)条规定的豁免。\n\n(h) 公司授权。DIP借款人和受托人（作为DIP贷款人的代表行事）均拥有订立和交付其作为一方当事人的DIP信贷协议，并履行其在该协议、协议、费用、契据和文件项下义务的一切必要权力和授权；并在DIP信贷协议所述本金、利息及其他金额依照DIP信贷协议的条款和条件到期应付时予以支付；以及采取可能必要、适宜或适当的任何其他相关行动，均以本DIP裁定或DIP信贷协议规定的范围为限。\n\n3. 预留款项。预留款项是指以下各项的总和：（i）根据 28 U.S.C. § 1930(a) 应向法院书记官和美国受托人支付的所有费用；（ii）破产法典第726(b)条规定的受托人产生并经本院准许的、最高达 $40,000 的一切合理且有文件证明的费用和开支；以及（iii）在本院任何时候通过临时或终局裁定所准许的，由DIP借款人在审理地移送日期后聘用的个人或公司所产生的《破产法典》第327、328、330及331条规定种类的所有已累积且未支付的费用、成本和开支债权（以下简称“预留款项专业费用”）。预留款项专业费用不得超过 $350,000。为免生疑义，预留款项专业费用不包括应向任何房地产经纪人支付的任何费用。DIP借款人所欠总额在任何时候均不得超过DIP贷款人的承诺额减去 $350,000。\n\n4. DIP债权。根据《破产法典》第364(c)(1)条，应向DIP贷款人授予针对各DIP借款人的获准高级有担保超级优先行政费用债权，该等债权以个别及连带方式存在，其优先于DIP借款人现有或今后产生的任何种类的一切其他债权，但获准的SN高级债务债权（定义见下文）及在获准范围内的其他SN高级债务除外，包括但不限于《破产法典》第503(b)和507(b)条规定种类的所有行政费用，以及根据《破产法典》第105、326、327、328、330、331、365、503(b)、506(c)、507(a)、507(b)、726、1113或1114条产生的任何及一切行政费用或其他债权，无论该等费用或债权是否可能因判决留置权或其他非合意留置权、扣押或查封而获得担保；该获准高级有担保超级优先行政费用债权（以下简称“DIP债权”）就《破产法典》第1129(a)(9)(A)条而言，应被视为根据《破产法典》第503(b)条获准的行政费用；且DIP债权应以下列财产获得支付并享有第一追索权：（i）DIP担保物及其全部收益，但仅受预留款项、获准的SN高级债务债权及在获准范围内的其他SN高级债务支付的限制；以及（ii）DIP借款人的任何其他资产；但是，DIP债权对根据《破产法典》第502(d)、544、545、547、548、551、553(b)、732(2)或742(2)条提起的任何诉讼所得款项不享有第一追索权。为免生疑义，除预留款项、获准的SN高级债务债权及在获准范围内的其他SN高级债务外，DIP债权不得受制于或与此前或此后在第11章案件或根据《破产法典》进行的任何继受案件中（包括但不限于《破产法典》第7章下的任何案件）授予或设立的任何债权同等受偿；且该DIP债权应按本文规定维持其优先顺位，直至本裁定项下及DIP信贷协议项下的所有义务均获全额支付。若本DIP裁定或其任何条款在上诉或其他情况下被撤销、推翻或修改，DIP债权均有权获得《破产法典》第364(e)条的完全保护。\n\n5. DIP 抵押物。DIP 抵押物应指并包括以下财产及该等财产的收益：(a) Genever US（Genever美国公司）在以下财产中的权益：(i) Sherry Netherland, Inc.（谢里·内瑟兰德公司）与 Genever Holdings LLC（Genever Holdings有限责任公司）于 March 6, 2015 就被称为 Apartment 1801 的特定公寓及附属于该租约的股份订立的专有租约；(ii) Genever US 在 Sherry Netherland, Inc. 与 Genever Holdings LLC 于 March 6, 2015 就被称为 Maid's Room 2219 的特定公寓及附属于该租约的股份订立的专有租约中的权益；(iii) Genever US 在 Sherry Netherland, Inc. 与 Genever Holdings LLC 于 March 6, 2015 就被称为 Maid's Room 719 的特定公寓及附属于该租约的股份订立的专有租约中的权益（该等租约及该等股份，合称“合作公寓权益”）；(b) Genever BVI（Genever英属维尔京群岛公司）或 Genever US 已提起或将提起的诉讼的收益（“借款人诉讼请求”），包括但不限于 Genever US 在 Bankruptcy Court（破产法院）针对 AIG Property Casualty Company（AIG财产意外保险公司）提起、案名为《Genever Holdings LLC 根据各项保险单就违约及确认判决针对 AIG Property Casualty Company 提起的、依据 Bankruptcy Code 第105条和第363条及 Bankruptcy Rule 7001 的起诉书》且登记为 Adv. Proc. No. 23-05007 中 Docket No. 1 的对抗程序（“AIG 诉讼”）；(c) 以 DIP 借款人名义持有于存款账户中的任何及全部资金，包括但不限于现金保证金；以及 (d) Genever BVI 对 Genever US 的所有权权益。为免生疑，DIP 抵押物不包括依据 Bankruptcy Code 第 502(d)、544、545、547、548、551、553(b)、732(2) 或 742(2) 条提出的任何撤销诉讼，亦不包括该等撤销诉讼的收益。\n\n6. DIP 留置权。作为对 DIP 贷款的担保，并仅受 Carve-Out 的限制，自本 DIP 命令录入之日起生效，并自动且适当完成完善，无须 DIP 贷款人签署、登记、完善或提交文件，亦无须 DIP 代理人占有或控制任何 DIP 抵押物，特此向 DIP 贷款人授予下列有效、有约束力、持续、可执行且不可撤销的担保权益及留置权（所有该等留置权及担保权益统称为“DIP 留置权”）。\n\n(a) 优先留置权。依据 Bankruptcy Code 第 364(c)(2) 条，就截至或于申请日并非另行受留置权约束的 DIP 抵押物，设立有效、有约束力、可执行、已完全完善的第一顺位担保权益及留置权。为免生疑：\n\n- 1. Sherry Netherland 第一留置权以及 Sherry Netherland 就现金保证金享有的担保权益及第一留置权（“Sherry Netherland 现金保证金留置权”，与 Sherry Netherland 第一留置权合称“Sherry Netherland 优先留置权”）均为有效且已适当完善，并在各方面（包括付款方面）均优先于 DIP 贷款人就 DIP 抵押物及其收益获授的担保权益和留置权。\n\n- 2. 在受 Carveout 限制的前提下，DIP 贷款人应就所有 DIP 抵押物（合作公寓权益及现金保证金除外）享有第一顺位担保权益，包括但不限于借款人诉讼请求（包括 AIG 诉讼）以及 Genever BVI 对 Genever US 的所有权权益。尽管有前述规定，Sherry Netherland 有权仅就 AIG 诉讼的任何收益（但不包括任何其他借款人诉讼请求）主张衡平法留置权。如主张该等衡平法留置权，则该被主张衡平法留置权的有效性、可执行性及优先顺位，应由具有管辖权的法院依据适用的破产法及非破产法确定（动议申请人认为破产法院将享有唯一且专属的管辖权，而 Sherry Netherland 保留一切权利），并保留各方就此享有的一切权利。\n\n(b) 次于某些其他留置权的留置权。依据 Bankruptcy Code 第 364(c)(3) 条，就以下 DIP 抵押物设立有效、有约束力、可执行、已完全完善的次顺位担保权益及留置权：(i) 截至或于申请日，受在申请日前即已存在的有效、已完善且不可撤销的优先留置权约束；或 (ii) 根据 Bankruptcy Code 第 546(b) 条的允许，成为受已完善留置权约束的财产。为免生疑，DIP 留置权应次于 Sherry Netherland 优先留置权。\n\n(c) 不交叉担保。就每一 DIP 借款人财产授予的 DIP 留置权，仅担保该借款人的义务。\n\n(d) 专有租约项下无违约。Sherry Netherland 不得就本动议或以其他方式提出任何论点，主张 Genever US 因授予本文所述担保权益及留置权而构成专有租约项下的违约。\n\n7. 如任何 DIP 命令或其任何条款经上诉或以其他方式被撤销、推翻或修改，DIP 留置权应有权获得 Bankruptcy Code 第 364(e) 条的充分保护。\n\n8. DIP 融资安排项下权利的保护。现对自动中止作出必要修改，以允许 DIP 借款人及作为 DIP 贷款人代表的受托人（视情况而定）在相同或不同时间采取以下任何或全部行动，且在每种情况下均无须法院进一步命令或申请：(i) 提交任何融资声明、担保协议、留置权通知及其他类似文书和文件，以确认并完善本文授予的留置权及担保权益；(ii) 授予 DIP 留置权并承担本文规定的所有负债及义务；以及 (iii) 发生违约后，根据 DIP 信贷协议行使 DIP 贷款人的一切权利及救济。为免生疑，并如 DIP 信贷协议所规定，除非并直至获准 SN 优先债务债权及在获准范围内的其他 SN 优先债务已获全额支付，DIP 贷款人不得通过要求止赎或其他执行行动，就 DIP 信贷协议项下产生的任何义务采取任何执行行动，藉由处分全部或部分合作公寓权益或现金保证金以实现清偿。\n\n9. 对 DIP 命令项下所授予权利的保留。\n\n(a) 除 Carve-Out 及 DIP 信贷协议允许的情形外，在任何 DIP 贷款仍未偿还期间，不得允许任何优先于或与 DIP 债权或 DIP 留置权同等顺位的债权或留置权；且除本 DIP 命令另有明文规定外，DIP 留置权不得：(i) 受制于或次于依据 Bankruptcy Code 第 551 条为 DIP 借款人财产利益而被撤销并保留的任何留置权或担保权益；或 (ii) 根据 Bankruptcy Code 第 364(d) 条或以其他方式，次于或与任何其他留置权或担保权益处于同等顺位。\n\n(b) 如本 DIP 命令所用，“违约事件”一词应指存在以下任一情形：(i) 任何违约事件（定义见 DIP 信贷协议并依该协议确定）；或 (ii) DIP 借款人对本 DIP 命令任何条款的任何重大违反。尽管依据 Bankruptcy Code 第 1112 条或以其他方式作出驳回任何 Chapter 11 案件的任何命令：(i) DIP 债权和 DIP 留置权，以及与前述事项有关的任何债权，应继续完全有效，并维持其优先顺位，直至所有 DIP 贷款获全额偿还（且尽管作出该等驳回，DIP 债权及 DIP 留置权仍应具有约束力）；(ii) DIP 命令所授予的其他权利，包括与 Carve-Out 有关的权利，不受影响；以及 (iii) 尽管作出该等驳回，本法院仍保留管辖权，以执行本段及本 DIP 命令其他部分所述的债权、留置权及担保权益。\n\n(c) 如本 DIP 命令的任何或全部条款日后被推翻、修改、撤销或中止，DIP 贷款人应有权就 DIP 贷款享有 Bankruptcy Code 第 364(e) 条、本 DIP 命令及 DIP 信贷协议所授予的全部权利、救济、特权及利益。\n\n(d) 除本 DIP 命令或 DIP 信贷协议另有明文规定外，DIP 留置权、DIP 债权以及 DIP 贷款人根据 DIP 信贷协议条款获授的一切其他权利和救济，应继续有效，且不得因下列事项而被修改、减损或解除：(i) 作出命令将任何 Chapter 11 案件转换为 Bankruptcy Code 第 7 章项下案件、驳回任何 Chapter 11 案件或终止对 Chapter 11 案件的合并管理，或因任何其他作为或不作为；(ii) 在任何 Chapter 11 案件中作出确认 Chapter 11 计划的命令，且根据 Bankruptcy Code 第 1141(d)(4) 条，DIP 借款人放弃就任何剩余 DIP 贷款获得任何解除。DIP 信贷协议的条款和规定应继续适用于该等 Chapter 11 案件、如该等 Chapter 11 案件不再进行合并管理时的任何继受案件，以及 Bankruptcy Code 项下任何取代性的第 7 章案件；DIP 留置权、DIP 债权以及 DIP 贷款人根据 DIP 信贷协议条款获授的一切其他权利和救济，应继续完全有效，直至如本文及 DIP 信贷协议所规定的 DIP 贷款获全额偿还。\n\n10. DIP 抵押物的灭失或损坏。本 DIP 命令、DIP 信贷协议或与该等交易有关的任何其他文件中的任何内容，均不得以任何方式被解释或理解为向受托人施加，或允许向受托人施加任何责任；该等责任系因 DIP 贷款人或 DIP 借款人在申请前或申请后就其重组工作所开展的活动而产生的任何债权所致。\n\n11. 获准 SN 优先债务债权。Sherry Netherland 根据专有租约及其他公司文件所享有的、关于应付给 Sherry Netherland 的未付欠款的申请前债权，现获准为金额 \\$1,096,186.54 的申请前有担保债权；该金额不受动议申请人质疑或异议，亦不得由 Sherry Netherland 修改或补充（“获准 SN 优先债务债权”）。\n\n12. 支付某些申请后费用的授权。Genever US 获授权同意支付，并且 DIP 贷款人通过受托人行事并由其酌情决定，获授权垫付资金以支付：(i) Sherry Netherland 律师的合理申请后费用；及 (ii) 在 Venue Transfer Date 后已经或继续向 Genever US 提供服务的 Genever US 专业人士的费用。在根据本段作出付款前，Genever US 应向法院提交通知，并附具适用发票。利害关系方随后有十四（14）日对该等发票提出异议。如未及时向法院提交异议，Genever US 获授权无需法院进一步命令即可支付该等发票。如及时提交任何异议，(i) Genever US 及受影响的专业人士可在其后七（7）日内就该等异议提交答复；及 (ii) Genever US 应支付不受该等异议影响的费用和支出部分。如当事人之间无法以协商一致方式解决异议，法院将就该事项作出裁决。\n\n13. 本文件或该动议中的任何内容，均不构成、亦不得被解释为就专有租赁协议及其他公司文件项下已经产生或可能产生的任何主张的破产申请后金额之获准或优先顺位作出的认定或放弃，包括但不限于因该公寓发生火灾而提出的索赔；各方就该等破产申请后索赔所享有的一切权利均得到完全保留。\n\n14. DIP 命令管辖。如本 DIP 命令的条款与 DIP 信贷协议或本法院作出的任何其他命令的条款之间存在任何不一致，应以本 DIP 命令的条款为准。尽管本法院作出的任何其他命令中有任何相反规定，根据本法院作出的任何其他命令作出的任何付款及其中包含的任何授权，均应符合并受制于本 DIP 命令及 DIP 信贷协议所载要求。\n\n15. 约束效力；继受人及受让人。DIP 信贷协议及本 DIP 命令的条款，包括本文件所载全部事实认定，应对 Chapter 11 案件中的所有利害关系方具有约束力，包括但不限于 DIP 借款人、受托人、DIP 贷款人、委员会、在 Chapter 11 案件中被指定或成立的任何其他法定或非法定委员会，以及其各自的继受人和受让人。\n\n16. 不构成放弃。DIP 贷款人未延迟或未行使其根据 DIP 信贷协议或本 DIP 命令（视情况而定）享有的权利和救济，不构成对 DIP 贷款人根据本文件或其他规定享有的任何权利的全部或部分放弃。\n\n17. 生效。本 DIP 命令构成事实认定和法律结论，并应于本命令作出后立即生效且具有完全可执行力。尽管 Bankruptcy Rules 4001(a)(3), 6004(h), 6006(d), 7062, or 9014 of the Bankruptcy Rules 或任何地方法则，或 Federal Rules of Civil Procedure 的 Rule 62(a) 有任何规定，本 DIP 命令应于作出后立即生效并可执行，且本 DIP 命令的执行或效力不得中止。\n\n18. 标题。本文件所用章节标题仅为方便之用，不影响本 DIP 命令的解释，亦不得在解释本 DIP 命令时予以考虑。\n\n19. 破产规则。动议的内容满足 Bankruptcy Rules 4001 and 6004 的要求，且在每种情形下均以适用范围为限。\n\n20. 无第三方权利。除本文件明确规定外，本 DIP 命令不为任何第三方、债权人或任何直接、间接或附带受益人创设任何权利。\n\n21. 必要行动。授权 DIP 借款人、受托人和 DIP 贷款人采取实施本 DIP 命令条款所必需或适当的一切行动。\n\n22. 通知。本 DIP 命令作出后三个（3）营业日内，DIP 借款人应将本 DIP 命令副本送达已获通知 DIP 听证会的各方、已向本法院提交通知请求的任何一方，以及委员会的律师。\n\n2023年9月12日于康涅狄格州布里奇波特签署。\n\n附件 1\n\nDIP 信贷协议\n\n多次提款优先有担保超优先占有资产债务人信贷及担保协议\n\n日期为 August 23, 2023，\n\n协议各方为\n\nGenever Holdings LLC（Genever Holdings 有限责任公司）和 Genever Holdings Corporation（Genever Holdings 公司），\n\n作为借款人，并作为 Chapter 11 Bankruptcy Code 项下的债务人和占有资产债务人\n\n以及\n\nLuc A. Despins，\n\n以其作为 Chapter 11 Bankruptcy Code 项下 Chapter 11 受托人的身份，\n\n作为贷款人\n\n第 1 条 定义  2\n\n第 1.1 节　一般定义  2\n\n第 1.2 节　解释  5\n\n第 1.3 节　营业日调整  6\n\n第 1.4 节　高级人员  7\n\n第 2 条 贷款协议  7\n\n第 2.1 节　款项用途  7\n\n第 2.2 节　拨付  7\n\n第 2.3 节　付款；提前还款；终止提前还款  8\n\n第 2.4 节　付款详情  8\n\n第 2.5 节　利息  8\n\n第 3 条 陈述与保证  8\n\n第 3.1 节　借款人的陈述与保证  8\n\n第 3.2 节　借款人的确认  9\n\n第 4 条 先决条件  9\n\n第 4.1 节　成交日及首次借款的先决条件  9\n\n第 4.2 节　所有借款的先决条件  10\n\n第 5 条 特别承诺及违约事件  11\n\n第 5.1 节　积极承诺  11\n\n第 5.2 节　消极承诺  11\n\n第 5.3 节　发生违约事件时的一般加速条款  11\n\n第 5.4 节　救济  12\n\n第 6 条 杂项  13\n\n第 6.1 节　通知  13\n\n第 6.2 节　放弃通知  14\n\n第 6.3 节　成本及费用偿还 14\n\n第 6.4 节　准据法；审判地；管辖权；送达诉讼文书；放弃陪审团审判  14\n\n第 6.5 节　完整协议；修订  15\n\n第 6.6 节　可分割性  15\n\n第 6.7 节　副本  15\n\n第 6.8 节　存续  16\n\n第 6.9 节　不构成放弃  16\n\n第 6.10 节　分别责任  17\n\n第 6.11 节　不使第三方受益  17\n\n第 6.12 节　约束效力  17\n\n第 6.13 节　资产归集；付款撤销  17\n\n第 6.14 节　不构成放弃；累积救济  17\n\n第 6.15 节　抵销权  17\n\n第 6.16 节　DIP 命令管辖  18\n\n第 7 条 DIP 担保物 18\n\n第 7.1 节　授予担保权益  18\n\n第 7.2 节　限制  18\n\n第 7.3 节　进一步保证  18\n\n第 7.4 节　保护 DIP 担保物  18\n\n第 7.5 节　所有权抗辩  19\n\n附件\n\n附件 A 承诺额\n\n附录\n\n附录 A 借款通知书格式\n\n多次提款优先有担保超优先占有资产债务人信贷及担保协议\n\n本多次提款优先有担保超优先占有资产债务人信贷及担保协议，日期为 [•], 2023（经修订、修订及重述、补充或以其他方式修改后，称为“本协议”），由以下各方订立：(i) Genever Holdings LLC，一家纽约州有限责任公司，且为 Chapter 11 案件中的债务人和占有资产债务人（“Genever US”）；(ii) Genever Holdings Corporation，一家根据英属维尔京群岛法律注册成立的公司，且为 Chapter 11 案件中的债务人和占有资产债务人（“Genever BVI”，并与 Genever US 合称“借款人”）；以及 (iii) Ho Wan Kwok（郭文贵）的 Chapter 11 财产（“个人债务人”），通过其代表 Luc A. Despins 以其作为个人债务人的 Chapter 11 受托人（“Chapter 11 受托人”）的身份行事（该 Chapter 11 财产称为“贷款人”；并与作为本协议当事方的借款人合称“各方”）。\n\n兹证明：\n\n鉴于，2020年10月12日（“Genever US 申请日”），Genever US 向 Bankruptcy Court for the Southern District of New York（纽约南区联邦破产法院）提交了根据 Bankruptcy Code 第 11 章寻求救济的自愿申请。\n\n鉴于，2022年2月15日，个人债务人向 Bankruptcy Court for the District of Connecticut（康涅狄格联邦地区破产法院）（“破产法院”）提交了根据 Bankruptcy Code 第 11 章寻求救济的自愿申请；2022年7月8日，破产法院作出命令，批准任命 Luc A. Despins 为 Chapter 11 受托人。\n\n鉴于，2022年10月11日（“Genever BVI 申请日”，并与 Genever US 申请日合称“申请日”），Genever BVI 向破产法院提交了根据 Bankruptcy Code 第 11 章寻求救济的自愿申请（Genever US、Genever BVI 及个人债务人各自称为“债务人”，合称“债务人”）。2022年11月3日，纽约南区联邦破产法院批准了 Chapter 11 受托人和 Genever US 提出的将 Genever US 的 Chapter 11 案件审判地移送至破产法院的联合动议；2022年11月21日（“审判地移送日”），破产法院批准对 Genever US、Genever BVI 及个人债务人的 Chapter 11 案件进行联合管理（合称“Chapter 11 案件”）；\n\n鉴于，借款人基于其商业判断，已请求贷款人向借款人提供一项优先有担保超优先占有资产债务人信贷安排（“DIP 融资”），包括根据本协议及 DIP 命令的条款并在符合其中条件的前提下向借款人提供的 $2,000,000 循环贷款；\n\n鉴于，贷款人基于其商业判断并通过 Chapter 11 受托人行事，愿意根据本协议及 DIP 命令所载条款和条件向借款人提供该等循环贷款；以及\n\n鉴于，借款人的债务应受 Carve-Out 和 Allowed SN Senior Debt Claim，以及在获准且由 DIP 担保物上的留置权担保的范围内的其他 SN Senior Debt 的约束，各项均按照贷款文件及 DIP 命令的规定并受其约束。\n\n因此，鉴于本文件所载相互承诺和协议，以及其他良好且有价值的对价，其收取及充分性特此得到确认，各方特此承诺并同意如下：\n\n第 1 条\n\n定义\n\n第 1.1 节 一般定义。\n\n除非上下文另有要求，本协议、附件、附录或随附的明细表中使用的下列术语具有下列含义：\n\n“关联方”应具有 Bankruptcy Code 第 101 条赋予该术语的含义。除非本文件另有明确规定，贷款人不应被视为任何借款人的关联方。\n\n“协议”具有本协议前言中规定的含义。\n\n“AIG Litigation”指 Genever US 在破产法院对 AIG Property Casualty Company 提起的对抗性诉状，案名为“Genever Holdings LLC 根据 Bankruptcy Code 第 105 条和第 363 条及 Bankruptcy Rule 7001，就 AIG Property Casualty Company 在多份保险单项下违约及确认判决提起的诉状”，并以 Adv. Proc. No. 23-05007 中的 Docket No. 1 登记。\n\n“Allowed SN Senior Debt Claim”具有 DIP 命令赋予该术语的含义。\n\n“Apartment”具有 DIP 命令赋予该术语的含义。\n\n“Bankruptcy Code”指不时生效的 United States Code 第 11 编。\n\n“Bankruptcy Court”具有本协议前言中规定的含义。\n\n“Borrowers”具有本协议前言中规定的含义。\n\n“Borrowing”指任何借款请求、借款人实际借入的任何金额，或根据本协议实际作出的任何贷款。\n\n“Borrowing Date”指贷款人提供任何借款资金之日。\n\n“Business Day”指除星期六或星期日以外、纽约州纽约市银行营业的任何一日。\n\n“Carve-Out”具有 DIP 命令赋予该术语的含义。\n\n“Cash Deposit”指 Sherry Netherland Inc. 作为现金担保物持有的现金保证金，用以根据 Genever US 与 Sherry Netherland Inc. 于 March 6, 2015 签订的保证金协议，担保 Genever US 在专有租赁协议项下的义务。\n\n“Chapter 11 Cases”具有本协议鉴于条款中规定的含义。\n\n“Closing Date”指本协议第 4 条规定的本协议生效的所有先决条件均已满足或按照本协议条款获得豁免之日。为免生疑，[•], 2023 构成成交日。\n\n“Commitment”指附件 A 中“Commitment”标题下贷款人名称对面所列的美元金额。\n\n“Debtor”具有本协议前言中规定的含义。\n\n“Default”指任何事件，如经发出通知、时间经过或满足任何其他适用条件（或前述事项的任何组合），即构成违约事件。\n\n“DIP担保物”具有本协议第7条、DIP命令及其他各项适用贷款文件中赋予该术语的含义。\n\n“DIP融资”具有本协议鉴于条款中规定的含义。\n\n“DIP担保权”具有本协议第7条、DIP命令及其他各项适用贷款文件中赋予该术语的含义。\n\n“DIP动议”是指各方于本协议日期当日或前后向破产法院提交的动议及DIP命令拟议文本，请求最终批准（包括但不限于）DIP融资。\n\n“DIP命令”是指破产法院就第11章案件结合DIP动议作出的命令，该命令应当：(a) 在形式和实质以及条款和条件上令贷款人满意；(b) 在不影响前述规定的前提下，最终授权并批准DIP动议中载明及拟议的事项和交易，包括但不限于DIP融资，以及根据本协议条款发放贷款和承担所有其他义务；(c) 具有完全效力；并且(d) 未被撤销、废止、中止、修订、补充或以其他方式修改（除非贷款人事先以书面形式同意）。\n\n“DIP命令日期”是指破产法院批准并录入DIP命令之日。\n\n“违约事件”具有第5.3节规定的含义。\n\n“政府机关”是指对相关事项及相关主体具有管辖权，或有权行使政府的或与政府有关的行政、立法、征税、司法、监管或行政管理职能的任何国家、主权实体、政府、准政府机构、政府部门、部、内阁、委员会、理事会、局、机构、法院、法庭、监管机关、机构组织、司法、立法、财政、行政或公共机构或实体，无论其为国内或外国、联邦、州、地方或其其他政治分支，包括任何中央银行、证券交易所、监管机构、仲裁员、公共部门实体、超国家实体及任何自律组织。\n\n“利率”是指年利率9.0%，不设违约利率，亦不设提前还款罚金或类似溢价。\n\n“贷款人”具有本协议序言中规定的含义。\n\n“担保权”是指对财产或财产权益设定的任何留置权、质押、优先安排、抵押、担保权益、信托契据、负担、让与、设定担保、所有权保留或其他负担，其实际效果构成担保权益。\n\n“贷款”是指根据本协议或依本协议不时发放（或视为发放）的每一笔循环贷款。\n\n“贷款文件”是指本协议、DIP命令、每份借款通知、就本协议交付的任何抵押文件、借款人就根据第2.2节申请贷款而发出的任何书面通知，以及根据其条款被特别指定或视为“贷款文件”、且日期为交割日或其后的任何其他文件、协议和文书，不论是否在本协议或其中被特别提及，并且在每种情况下，均包括经不时修订、重述、补充或以其他方式修改的版本。\n\n“重大不利影响”是指对下列任一事项产生重大不利影响：(a) 任何借款人的业务、经营、经营结果、财务状况或资产；(b) 任何贷款文件任何条款的有效性或可执行性；(c) 任何借款人及时履行义务的能力；(d) 根据贷款文件授予的担保权的设立、完善或优先顺位，或担保物（作为整体）的价值，或DIP担保物重大部分的价值；或(e) 贷款人根据任何贷款文件享有的权利和救济；但在每种情况下，不包括因与第11章案件启动有关和/或导致第11章案件启动的事件和情况，或因根据《破产法》第11章启动程序及第11章案件而依《破产法》条款不产生效力的协议项下任何违约所致的影响。\n\n“到期日”是指下列最早发生之日：(a) 出售该公寓；(b) 债务人向破产法院提交重整计划；(c) 自交割日起满24个月的首个营业日；或(d) 本协议项下所有义务获全额偿付之日。\n\n“义务”是指：(a) 贷款的所有本金及溢价（如有），且在不限制前述规定的前提下，包括与承诺有关的所有义务和债务；(b) 借款人根据贷款文件应付的利息（包括终止日或贷款其他到期日后产生的利息）、费用及其他款项；以及(c) 借款人根据贷款文件所欠的任何种类的其他债务、义务及责任，无论现已存在或日后产生，无论是否以票据或其他书面文件证明，无论是否在任何破产程序中获准，无论因信贷展期、信用证开立、承兑、贷款、担保、赔偿或其他原因产生，亦无论其为直接或间接、绝对或或有、到期或将到期、主要或次要、共同或连带。\n\n“各方”具有本协议序言中规定的含义。\n\n“全额偿付”就贷款及所有其他义务（就尚未提出任何索赔的或有义务除外）而言，是指：(a) 根据贷款文件或经贷款人以书面形式另行同意，以现金不可撤销地全额支付该等款项（包括就出售、转让或以其他方式处分债务人全部或实质全部财产和资产的任何交易，包括根据《破产法》第363条进行的交易），以及支付所有利息和其他款项；但尽管有前述规定，除非及直至所有承诺均不可撤销地、永久地且最终届满，或已被如此终止、取消及清偿，否则不得视为已发生“全额偿付”，亦不得视为任何贷款已获全额偿付。“全额偿付”亦包括本协议或任何其他贷款文件中使用的“全额支付”、“已全额支付”、“已全额偿还”、“已全额提前偿还”、“已全额赎回”或具有类似效力的任何其他术语或词语。\n\n“主体”是指并包括任何自然人、个人、合伙企业、合资企业、公司、信托、有限责任公司、有限公司、股份公司、非法人组织、政府实体或其任何政治分支或机构，或任何其他实体。\n\n“申请日”具有本协议鉴于条款中规定的含义。\n\n“专有租约及股份”统称指：(A) (i) Sherry Netherland, Inc.（雪莉荷兰公司）与Genever Holdings LLC于March 6, 2015就称为Apartment 1801的特定公寓订立的专有租约，(ii) Sherry Netherland, Inc.与Genever Holdings LLC于March 6, 2015就称为Maid's Room 2219的特定公寓订立的专有租约，及(iii) Sherry Netherland, Inc.与Genever Holdings LLC于March 6, 2015就称为Maid's Room 719的特定公寓订立的专有租约；以及(B) 该等租约所附属的股份。\n\n“SN优先债务”具有DIP动议中赋予该术语的含义。\n\n“股票”是指：(a) 某一主体（个人除外）的所有股本股份（无论称为普通股或优先股）、股权、受益权益、合伙权益或成员权益（或其单位）、合资权益、参与权益或其他所有权或利润权益，或其等价物（无论如何指定），无论有表决权或无表决权；以及(b) 可转换为或可交换为任何其他股票的所有证券，以及购买、认购或以其他方式取得任何其他股票的所有认股权证、期权或其他权利，无论目前是否可转换、可交换或可行使。\n\n“终止日”是指下列最早发生之日：(a) 到期日；或(b) 本协议或其他贷款文件项下发生任何违约事件之日。\n\n“交易”是指：(a) 借款人于交割日签署及交付其作为一方的本协议及其他贷款文件，以及履行本协议项下的义务和交易；(b) 与前述任何事项相关或就其订立的其他交易；以及(c) 就前述任何事项支付费用、溢价、收费、成本及开支。\n\n“UCC”是指任何适用司法管辖区的《统一商法典》；如适用司法管辖区没有《统一商法典》，则指不时在纽约州生效的《统一商法典》。\n\n第1.2节 解释。\n\n在本协议及其他贷款文件中，除非上下文另有要求，凡与此相关的所有用语和人称代词，均应按照当事方或各当事方所要求的数和性别予以理解和解释，动词亦应被理解和解释为与所要求的用语及代词一致。本协议及其他贷款文件划分为条和节，以及使用标题和题注，仅为便于查阅，并不修改或影响对本协议或其任何条款的解释或释义。“本协议中”“本协议的”“根据本协议”“下文中”及“与本协议有关”等词语，以及含义类似的词语，均指本协议（或其他适用贷款文件）整体，而非本协议（或其）的任何特定条或节。除非另有说明，“或”一词具有“和/或”一语所表示的包容性含义。“文件”和“协议”包括任何及所有文书、文件、协议、证明书、契约、通知及其他书面材料，无论其证明形式为何。在任何贷款文件中，在任何一般性陈述、术语或事项之后使用“包括”或“包含”一词时，不得将该等陈述、术语或事项解释为限于紧随该词之后列明的具体项目或事项，或类似项目或事项，无论是否就此使用非限制性措辞（如“包括但不限于”“但不限于”或具有类似含义的词语）；相反，应视为指属于该等一般性陈述、术语或事项可能具有的最广泛范围内的所有其他项目或事项。对特定条、附件、附表、节或清单的提述，应解释为对本协议（或其他适用贷款文件）中该特定条、附件、附表、节或清单的提述。除非另有明确说明，对任何贷款文件的任何提述，均指该文件经不时修订、重述、补充或以其他方式修改且当时有效的版本。贷款文件中对“资产”或“财产”的提述具有相同含义，并在贷款文件中可互换使用；该等词语应视为指任何及所有有形和无形资产及财产，包括现金、证券、股份、账户及合同权利。除非本协议或相关文件另有规定，任何贷款文件中定义的所有术语，在依据本协议或相关文件制作或交付的任何证明书或其他文件中使用时，均具有该等定义的含义。定义术语的含义同等适用于该等定义术语的单数和复数形式。本协议中未另行定义、但在UCC（《统一商法典》）中定义的术语（包括未大写的术语），应具有其中所述的含义。在计算从某一指定日期至其后某一指定日期的期间时，“自”指“自该日并包括该日”；“至”和“直至”均指“至但不包括该日”；“截至”指“至并包括该日”。如本协议或任何其他贷款文件的任何条款提及任何人士已采取或将采取的任何行动，或该人士被禁止采取的任何行动，除非另有明确规定，该条款应解释为包括采取或不采取该行动的一切直接或间接方式。对任何法规或规章的提述，可以使用其通称、正式名称或具体引注；除就FATCA另有规定外，应解释为包括与该法规或规章相关的，或合并、修订、替代、补充或解释该法规或规章的所有法定和监管规定；且除非另有规定，对任何法律或规章的任何提述，均指经不时修订、修改或补充的该法律或规章。任何贷款文件中凡提及任何人士，该提述均应解释为包括该人士获准的继承人和获准的受让人。根据任何贷款文件，为允许采取某一特定行动而须满足的任何财务比率，应以适当组成部分除以另一组成部分计算，将结果保留至比本协议或相关文件中该比率表示的小数位数多一位，并将结果向上或向下取整至最接近的数值（如无最接近数值，则向上取整）。除非另有规定，任何贷款文件中对每日时间的所有提述，均指纽约市时间。“应”与“将”在本协议及其他贷款文件中可互换使用，并指借款人根据上下文需要，就履行或作出（或不履行或不作出）某一行动或事件承担绝对义务。除非本协议或相关文件另有明确规定，根据本协议或其他贷款文件对任何本金、利息、费用、金额和/或其他义务所作的支付、提前偿付、赎回或偿还，均应以美元现金支付。贷款文件条款不允许或以其他方式禁止的任何行动或事件，是指该行动或事件（y）不得直接或间接采取或完成，以及（z）被直接和间接禁止。任何人士不得通过分许可或转租（如适用）采取任何行动或完成任何交易，如果该人士根据贷款文件被禁止通过许可或租赁（如适用）采取该行动或完成该交易。\n\n第1.3节 营业日调整。\n\n除非本协议或任何其他贷款文件另有明确规定（且在到期日或任何义务加速到期之日除外，在每一该等情况下，无论该日是否为营业日，该等付款或履行均应于该日或之前到期应付或完成），如任何付款或其他履行应作出的日期不是营业日，则该付款或履行应在下一个营业日作出；但如该下一个营业日落入不同的日历月，则该付款或其他履行应在该付款或其他履行应作出的日期之前紧接的营业日作出；但就此而言，利息将在每一额外日期继续累积。\n\n第1.4节 高级职员。\n\n根据贷款文件交付的、由借款人的高级职员签署的任何文件、协议或文书，应被最终推定为已获该借款人采取一切必要的公司、合伙和/或其他行动授权；且该高级职员应被最终推定为以其作为该借款人高级职员的身份代表该借款人行事，而非以任何个人或其他身份行事。\n\n第二条\n贷款协议\n\n第2.1节 贷款所得款项的用途。\n\n各笔贷款的所得款项，经贷款人自行决定，仅可由借款人用于必要开支，包括：（a）对该公寓进行必要的修复维修；（b）应付给U.S. Trustee（美国受托人）的费用和开支；以及（c）《Bankruptcy Code》（《破产法典》）第327、328、330和331节所规定种类的、并于Venue Transfer Date（审理地移转日期）之后发生的费用和开支。\n\n第2.2节 放款。\n\n(a) 在DIP Order（债务人占有融资命令）已作出并受其条款和条件约束的前提下，自Closing Date（交割日）起立即自动生效，无需本协议或其他贷款文件的任何一方、Bankruptcy Court（破产法院）或任何其他人士采取进一步行动，贷款人将自行决定向借款人提供以下循环贷款（除非Termination Date（终止日）已发生），总额最高不超过贷款人的承诺额：\n\n(i) 为借款人在适用提款日开始的四周期间内预计发生的必要开支（如第2.1节允许）提供融资的循环贷款；但循环贷款总额不得超过剩余未出资承诺额。\n\n(ii) 每笔贷款的最低总额为$10,000，超过该金额的部分应为$5,000的整数倍。\n\n根据本第2.2节借入的金额可以偿还后再次借入。\n\n(b) 借款请求。发生借款时，适用借款人应在下午1:00（EST）之前至少一（1）个营业日，向贷款人发出书面通知（可通过电子邮件发送）（“借款通知”），其形式应基本符合附件A中关于借款的格式（或经贷款人同意的更短期限）。该借款通知应载明：（i）拟借入贷款的本金总额；（ii）借款日期（应为营业日）（“借款日”）；以及（iii）借款人对该等资金的预期用途。\n\n(c) 承诺额终止；承诺额自愿减少。承诺额（如在计及当日任何贷款出资后仍有未使用部分）应于终止日自动终止。\n\n第2.3节 付款；提前偿付；终止提前偿付。\n\n(a) 尽管本协议或其他文件中有任何相反规定，义务应持续未清偿，直至其获得全额清偿。借款人应于终止日以现金向贷款人支付未偿还义务本金金额及所有其他义务，以实现全额清偿；但尽管贷款文件中有任何相反规定，如终止日将在该日之后发生，则终止日应自动提前至该同一较早日期，无需任何人士采取行动或发出通知。\n\n(b) 贷款可不时提前偿付，无须支付罚金或溢价。贷款未偿余额（本金及利息）应于到期日全额支付。\n\n(c) 借款人作出的每笔付款、偿还、赎回及提前偿付，应按以下顺序抵充：（i）首先，抵充根据贷款文件应付贷款人的所有费用、成本和开支；（ii）其次，抵充根据贷款文件应付贷款人的应计未付利息；（iii）第三，抵充应付贷款人的贷款本金金额；及（iv）第四，抵充应付贷款人的所有其他义务。该等款项一经支付，在任何情况下均不得退还。\n\n第2.4节 付款细节。\n\n借款人根据本协议及任何其他贷款文件支付的所有义务款项，均应不得抵销、反诉或提出任何种类的抗辩，不含任何税款且不扣除任何税款，并应以即时可用资金的美元现金支付；在每种情况下，（a）支付给贷款人，且（b）按照第2.3(c)节适用。借款人应支付银行、清算所或任何其他金融机构就根据任何贷款文件作出任何付款所收取的一切费用、成本和开支（行政性或其他性质）。\n\n第2.5节 利息。\n\n(a) 贷款的未偿还本金金额以及任何其他金额和义务，应按利率计息（按照每月实际经过天数、以一年360天为基础计算）。利息应于终止日到期应付。\n\n(b) 任何其他债务所产生的利息，应按贷款文件的规定到期应付；如未指定付款日期，则应在要求时以现金到期支付。\n\n第3条\n陈述与保证\n\n第3.1节 借款人的陈述与保证。\n\n为促使贷款人根据本协议发放贷款并促使贷款人订立本协议，借款人分别且连带地于以下各日期作出陈述与保证：(i) 交割日；(ii) 各借款日；以及 (iii) 视情况而定，在任何贷款文件中或以其他方式重新作出或被视为重新作出该等陈述或保证的每一日期；在每一情形下，均如下：\n\n(a) 裁定。DIP 裁定完全有效，且未被撤销、推翻或废止，亦未在未经贷款人事先书面同意的情况下被修订或修改；并且，未就该 DIP 裁定及时提起上诉，或者如已及时提起上诉，目前并无任何在该上诉待决期间有效的中止令。\n\n(b) 破产事项。\n\n(i) 第11章案件已有效启动，且 (x) 已在当时情形下就 DIP 动议发出适当通知，及 (y) 破产法院已就批准 DIP 裁定举行听证。\n\n(ii) 在 DIP 裁定作出后，各借款人的债务将构成 DIP 债权（定义见 DIP 裁定），而担保各自债务的留置权应为对各自 DIP 担保物享有 DIP 裁定所规定优先顺位的优先担保、有效、可执行，并自动且适当完善的留置权，但在所有方面均受制于 DIP 裁定及贷款文件中规定的除外款项及其他例外情形。\n\n(c) 担保权益。本协议及 DIP 裁定有效地为贷款人设立对借款人就其各自 DIP 担保物享有的全部权利、所有权及权益的合法、有效、具有约束力、可执行的留置权及担保权益；在每一情形下，均受制于除外款项。根据 DIP 裁定的条款，无需且在任何时候均不需要提交任何文件或采取其他行动（包括取得占有或控制）以完善、维持或保护该等留置权及担保权益；但尽管有上述规定，借款人应已作出（或授权贷款人作出）贷款人合理认为必要和/或适当并要求作出的所有备案。\n\n第3.2节 借款人的确认。\n\n借款人确认，其作出第3.1节所述陈述与保证，意在说服贷款人订立贷款文件；贷款人系基于并完全依赖每一项该等陈述与保证而订立贷款文件。每一项该等陈述与保证均应在本协议、其他贷款文件的签署和交付以及任何贷款的发放后继续有效，直至 (a) 所有债务均获全额偿还，且 (b) 所有承诺不再可供使用或已终止为止。\n\n第4条\n先决条件\n\n第4.1节 交割日及初始借款的先决条件。\n\n除第4.2节规定的先决条件外，交割日的发生、本协议的生效以及贷款人据此发放任何贷款的义务，均以满足（或由贷款人豁免，且该等豁免可由贷款人或其律师通过电子邮件传达）以下先决条件为前提：\n\n(a) 贷款人应已收到本协议及每一其他贷款文件的副本，且在每一情形下，均已由其各签署方正式签署并交付给贷款人；\n\n(b) 不应已发生违约或违约事件，亦不应因该初始借款或其所得款项的使用而导致违约或违约事件；\n\n(c) DIP 裁定 (i) 应已由破产法院作出，(ii) 应于交割日完全有效，(iii) 不应已被撤销或推翻，(iv) 不应受制于中止令，且 (v) 未经贷款人事先书面同意，不应在任何方面被修改或修订；\n\n(d) DIP 裁定应有效地为贷款人设立对 DIP 担保物的有效、具有约束力、可执行且完全并自动完善的留置权，其依据及优先顺位应如其中所规定；以及\n\n(e) 贷款人可能合理要求的其他条件、文件及交付物。\n\n第4.2节 所有借款的先决条件。\n\n贷款人据此发放任何贷款的义务，应以满足以下所有条件为前提：\n\n(a) 交割日应已发生；\n\n(b) 在发放该贷款时或因发放该贷款而立即，不应存在任何违约或违约事件；\n\n(c) 不应存在任何政府机关或任何法院的程序、命令、禁令或判令，限制或禁止（或试图限制或禁止）据此为贷款提供资金；\n\n(d) 该贷款所得款项应被指定并要求按照第2.1节使用；\n\n(e) 借款人应支付根据本协议及其他贷款文件在该借款日须支付的所有成本及费用（包括根据第6.3节应支付的成本及费用）（该等金额可由贷款人自行决定从该贷款所得款项中抵销）；\n\n(f) 贷款人应已收到借款人正式签署的书面通知，该通知符合第2.2(b)节的要求；\n\n(g) DIP 裁定 (a) 应完全有效，(b) 不应已被推翻、撤销或中止，(c) 不应已成为任何上诉或异议的标的，且 (d) 未经贷款人事先书面同意，不应已被修订、补充或以其他方式修改；以及\n\n(h) 自交割日起，不应发生任何单独或与其他该等情形合计已产生或可合理预期会产生重大不利影响的发展或事件。\n\n每一份借款通知均构成借款人的陈述，即上述条件于以下各日期当日均已满足（或视情况而定，已被豁免）：(i) 该借款通知的日期，(ii) 所请求的借款日，以及 (iii) 该贷款获得资金或发放（或视情况而定，被视为获得资金或发放）的日期。\n\n第5条\n特定承诺及违约事件\n\n第5.1节 肯定性承诺。\n\n在全额付款前，各借款人应于每个日历月第一日纽约市时间下午1:00之前（自交割日后的第一个日历月起）向贷款人提交一份经营报告，说明此前一个月内所有财产的收取、管理及处置情况。为免生疑义，借款人根据本第5.1节承担的义务，应通过借款人及时提交 28 C.F.R. § 58.8 所要求并载有其中所述信息的月度经营报告而得到履行。\n\n第5.2节 否定性承诺。\n\n在全额付款前以及任何承诺或债务尚未清偿期间，各借款人不得：\n\n(a) 除因本协议产生的贷款人债权及留置权外，且除除外款项外，发生、设立、承担、容许存在或准许，或提出任何动议以寻求任何其他与贷款人的债权及留置权具有同等优先顺位或优先于贷款人的债权及留置权的债权；\n\n(b) 未经贷款人同意，对 DIP 裁定作出或允许作出任何修订或变更（如适用）；\n\n(c) 提起任何对抗程序、有争议事项或其他诉讼，就任何贷款文件、据此或依此授予的任何留置权、债权、权利、利益或保护，或据此或依此拟进行的任何交易，向贷款人主张任何债权或抗辩，或以其他方式针对贷款人采取行动；以及\n\n(d) 在受制于 DIP 裁定的前提下，于违约事件发生后及其持续期间，以任何方式反对、争议、延迟、阻止或干扰贷款人就 DIP 担保物行使任何权利及救济。\n\n第5.3节 违约事件发生时的一般加速到期条款。\n\n如发生或出现本第5.3节规定的一项或多项事件（每一项均称为“违约事件”），贷款人可通过向借款人发出书面通知（受第5.4(a)节约束；为免生疑义，该节不要求发出任何该等通知，并将自动发生），宣布全部贷款及其他债务或其中任何部分的本金以及应计未付利息立即到期应付，而该等款项应随即立即到期应付，并立即终止所有剩余承诺；在每一情形下，均无需进一步通知，亦无需任何形式的提示、催告或拒付证明，借款人特此明确放弃上述各项；并可采取法律或衡平法上可采取的任何进一步行动，或贷款文件规定的行动，包括出售或转让贷款及其他债务，以及与贷款、其他债务或根据贷款文件取得的所有其他权利：\n\n(a) 借款人未能在本协议或任何其他贷款文件要求支付时起三（3）个营业日内，支付根据本协议或任何其他贷款文件应付的任何金额或债务；\n\n(b) 为签署、交付或履行任何贷款文件，或为任何贷款文件项下任何债务的有效性或可执行性所必需的任何政府机关授权未获授予、被撤回或不再完全有效；\n\n(c) (A) 任何贷款文件的任何条款因任何原因不再对作为该文件当事方的任何借款人有效且具有约束力或不再可向其执行；(B) 任何借款人以书面方式作出上述表示，或提起诉讼以限制其在任何贷款文件项下的义务或责任；(C) DIP 裁定因任何原因（但不包括依其条款）不再在 DIP 担保物上设立有效担保权益；或 (D) 任何借款人的任何债务不再由该借款人的全部 DIP 担保物担保；或\n\n(d) 在第11章案件中发生下列任一事项：\n\n(i) 除因本协议产生的贷款人债权及留置权外，且除除外款项外，任何借款人发生、设立、承担、容许存在或准许，或提出任何动议以寻求任何其他与贷款人的债权及留置权具有同等优先顺位或优先于贷款人的债权及留置权的债权；\n\n(ii) 破产法院作出命令，或借款人提出任何动议或任何救济请求——在每一情形下，均未经第11章受托人支持或不顾第11章受托人的反对——以 (a) 驳回任何第11章案件，(b) 将任何第11章案件转换为《破产法典》第7章项下案件，(c) 任命一名具有超出《破产法典》第1106节规定权限的受托人或审查员（第11章受托人除外）；或 (d) 确认一项未规定于生效日或之前全额支付本协议项下所有债务的计划；\n\n(iii) 破产法院作出命令，准予终止、废止或修改自动中止（如《破产法典》第362节所规定）的救济，以授权任何一方就借款人价值超过 $50,000 的任何重大资产采取行动，或以会对借款人按正常业务过程经营其业务的能力产生不利影响的方式采取行动；或\n\n（iv）借款人未遵守DIP命令的任何条款，且在收到该事件的书面通知后两（2）个营业日内未获补救，或未依其条款以其他方式获得豁免；但前提是，除非且直至获准的SN高级债务债权及其他SN高级债务在获准范围内获得全额清偿，DIP贷款人不得通过要求、止赎或其他执行行动，就实现全部或部分合作社权益或现金保证金而收取本协议项下产生的任何债务。\n\n第5.4节 救济措施。\n\n（a）如发生任何违约事件，在遵守DIP命令的前提下，贷款人可自行酌情不时采取下列一项或多项措施（除本协议其他部分规定的任何及所有其他措施外）：\n\n（i）终止、减少或对任何承诺附加条件；\n\n（ii）要求借款人为债务提供现金担保；以及\n\n（iii）根据贷款文件或任何其他协议、DIP命令及破产法院的任何其他命令、法律（包括《破产法》及其他适用法律）、衡平法及其他规定，行使赋予的任何其他权利、救济措施、权力及特权，包括《统一商法典》项下有担保方的权利和救济措施。\n\n尽管有上述规定，在任何违约事件发生并持续期间，贷款人可根据本协议、DIP命令及适用法律的条款，自行酌情豁免该违约事件。\n\n第6条\n杂项\n\n第6.1节 通知。\n\n根据本协议条款要求或允许发出的任何通知或其他信息（包括任何财务信息），应以挂号或保价邮件（要求回执）发送，或亲自递送、通过快递（包括认可的隔夜递送服务）、传真或电子邮件送达；如通过普通美国邮件寄送，则在投邮后五（5）日生效；如亲自递送、通过快递（包括认可的隔夜递送服务）或传真送达，则在收到时生效；如通过电子邮件发送，则在收到电子邮件时生效；在每种情况下，均应按下列地址向一方发出（或按该方向其他方提供的、依照下文所列的其他地址、传真号码或电子邮件地址，或依本协议提供的后续地址、传真号码或电子邮件地址）：\n\n如致任何借款人：\n\nPaul Hastings LLP 200 Park Avenue New York, NY 10166 收件人：Doug Barron 和 Alex Bongartz 电子邮件：dougbarron@paulhastings.com；alexbongartz@paulhastings.com\n\n如致贷款人：\n\nLuc A. Despins，以其第11章受托人身份 c/o Paul Hastings LLP 200 Park Avenue New York, NY 10166 收件人：Luc Despins 电子邮件：lucdespins@paulhastings.com\n\n抄送至（不应视为构成通知）：\n\nPullman & Comley, LLC 850 Main Street Bridgeport, CT 06601 收件人：Irve Goldman 电子邮件：igoldman@pullcom.com\n\n第6.2节 通知豁免。\n\n凡根据任何贷款文件须向贷款人或借款人发出任何通知时，由有权获得该通知的一名或多名人士签署的书面通知豁免，无论在其中规定的时间之前或之后作出，均应视为等同于已发出该通知。\n\n第6.3节 成本和费用偿付。\n\n各借款人同意，在交割日当日或之前，以及在交割日后收到相关发票后一（1）个营业日内，支付：（a）根据任何贷款文件，为贷款人的利益在该借款人的DIP担保物上设立并完善留置权的一切费用、成本和开支，包括提交和登记费用、开支和税费、查询费用、产权保险费；（b）贷款人就保管或保存该借款人的任何DIP担保物所发生的一切成本和开支；（c）贷款人及其专业人士为保护、评价、评估或处置该借款人的任何DIP担保物所作努力而发生的一切费用、成本和开支；以及（d）贷款人及其专业人士在执行任何贷款文件或该借款人的任何债务，或收取该借款人根据本协议或其他贷款文件应付的任何款项时发生的一切费用、成本和开支（包括与出售、收取或以其他方式实现该借款人的任何DIP担保物，或执行贷款文件有关的费用、成本和开支）。在不限制本第6.3节前述任何规定的情况下，任何借款人根据或就任何贷款文件采取的任何行动，即使该行动为任何贷款文件所要求或应贷款人要求而采取，也应完全由该借款人承担费用，且贷款人无须根据任何贷款文件就此向任何借款人偿付。本第6.3节所载的义务和规定应在本协议终止及债务偿还后继续有效。\n\n第6.4节 准据法；审判地；管辖权；送达程序；陪审团审判豁免。\n\n有关本协议及（除非其中另有明确规定）其他贷款文件的解释、有效性、执行和释义的一切问题，均应受纽约州法律管辖，并依适用于在该州订立及履行的合同的纽约州法律予以解释和执行。各方特此不可撤销地接受破产法院的专属管辖；且仅在破产法院对任何事项不具有管辖权（或拒绝行使管辖权）的范围内，接受位于纽约市曼哈顿区的州法院和联邦法院的专属管辖，以裁决本协议项下或其他贷款文件项下，或与本协议、其他贷款文件或本协议拟议或讨论的任何交易有关的任何争议；并特此不可撤销地放弃且同意不在任何诉讼、行动或程序中主张其不受任何该等法院的人身管辖，或该等诉讼、行动或程序不当，或该等程序的审判地不便；但前提是，本协议或任何其他贷款文件中的任何内容均不限制贷款人在其认定该等诉讼、行动或程序为行使其在本协议或任何其他贷款文件项下权利或救济措施所必需或适当的范围内，在任何其他司法管辖区的联邦、州或其他法院提起任何诉讼、行动或程序的权利。各方特此不可撤销地放弃亲自送达程序，并同意在任何该等诉讼、行动或程序中，通过将副本以挂号或保价邮件或隔夜递送（附送达证据）寄送至该方在本协议项下有效的通知地址，即可向该方送达程序；并同意该等送达构成有效且充分的程序送达及其通知。本协议所载任何内容均不得视为以任何方式限制依法律允许的任何其他方式送达程序的任何权利。本协议各方在法律允许的范围内，放弃在因本协议、其他贷款文件以及本协议和该等文件所拟议的任何其他交易引起、与之有关或涉及该等事项的任何诉讼、起诉或程序中接受陪审团审判的一切权利。本豁免适用于任何基于侵权、合同或其他事由的诉讼、起诉或程序。本协议各方（A）证明，任何其他方以及与任何其他方有关联或存在关系的任何代理人、代表或其他人士，均未明示或以其他方式表示该其他方在发生诉讼时不会寻求执行前述豁免；且（B）确认，其及本协议其他方已因本第6.4节中的相互豁免及证明，而受促订立适用的贷款文件。\n\n第6.5节 完整协议；修订。\n\n（a）贷款文件包含各方就其所涵盖事项达成的完整理解，并取代与该等事项有关的一切其他书面和口头沟通、谈判、承诺及文件。\n\n（b）未经借款人和贷款人的书面同意，对本协议或其他贷款文件任何条款的任何修订、重述、修改、补充、变更、终止或豁免（任何房东协议、保管人豁免或抵押权人豁免除外，各该等文件可依其条款予以修订、重述、补充、变更、终止或豁免），以及对任何借款人偏离该等条款的任何同意，在任何情况下均不生效；但前提是，未经贷款人同意，任何该等修订、重述、修改、变更、终止、豁免或同意不得：（i）减少任何贷款；（ii）推迟或提前任何贷款的到期日或其他预定最终到期日，或推迟或提前任何贷款任何预定本金付款的日期，或减少该等付款金额；（iii）推迟任何债务的应付日期；（iv）降低任何贷款的利率或本协议项下应付任何债务的金额；（v）修订本第6.5节或本协议或其他任何贷款文件中规定须经所有贷款人同意或采取其他行动的任何条款；（vi）以任何方式变更本协议中按其条款明确要求贷款人批准或同意的任何规定；（vii）解除或从属于贷款人为利益就任何借款人的全部或实质上全部DIP担保物所取得的任何留置权，但依贷款文件条款进行的除外；或（viii）（A）变更或具有变更任何付款（包括自愿及强制性提前还款）、留置权或DIP担保物收益的优先顺位之效果（包括因根据本协议、其他贷款文件或其他规定，允许发行或发生就付款、留置权、DIP担保物或DIP担保物收益而言优先于任何债务的新贷款或其他债务，以交换任何债务或以其他方式），或（B）提前确定的日期，或增加贷款人根据任何贷款文件就任何贷款应收的任何预定本金分期付款。\n\n第6.6节 可分割性。\n\n如本协议或任何其他贷款文件的任何规定根据任何法律在任何方面无效、违法或不可执行，本协议或该等文件其余规定的有效性、合法性和可执行性不应因此以任何方式受到影响或损害。各方应尽诚信谈判，努力以在经济效果上尽可能接近该无效、违法或不可执行规定的有效规定，替代该无效、违法或不可执行规定。\n\n第6.7节 副本。\n\n本协议可签署若干份副本，且各方可分别在不同副本上签署，其中每一份以及其任何影印副本、传真副本和其他电子传输方式的副本，均应视为正本，但所有副本合在一起应构成同一份协议。\n\n第6.8节 存续。\n\n(a) 除第3.2节外，本协议以及贷款文件中作出的所有协议、陈述、保证和承诺，以及根据该等文件或与该等文件相关而交付的任何文件、证明或声明，均应视为已被其他各方所依赖，并应在本协议和其他贷款文件的签署及交付以及根据本协议或该等文件发放贷款后继续有效，无论任何该等其他方或其代表是否进行过任何调查；且应持续有效，直至所有义务及根据贷款文件应付的其他款项均已按照本协议和该等文件的规定全额偿付。贷款人不得因发放贷款而被视为放弃任何因该等陈述或保证被证明为虚假或具有误导性而可能产生的违约事件，尽管贷款人在发放该等贷款时可能已收到或知悉任何该等违约事件，或可能已收到或知悉该等陈述或保证为虚假或具有误导性。\n\n(b) 根据本协议及任何其他贷款文件作出的所有陈述和保证，或根据本协议、该等文件或与本协议、该等文件相关而交付的任何其他文件中的所有陈述和保证，均应在本协议和该等文件签署及交付后继续有效（并应在此后继续根据本协议和该等文件的条款作出）。无论贷款人或其代表是否进行过任何调查，且尽管贷款人在任何贷款发放时可能已收到或知悉任何违约或违约事件，该等陈述和保证均已或将被贷款人所依赖，并应在任何贷款或本协议项下或其他贷款文件项下的任何其他义务尚未偿付或履行期间保持完全有效（并应继续根据适用贷款文件的条款作出）。\n\n(c) 尽管贷款文件中有任何相反规定，借款人根据第2.5节承担的义务，以及借款人和贷款人根据本第6条承担的义务，无论本协议拟议交易是否完成、贷款及其他义务是否偿还，或本协议、任何其他贷款文件或本协议或该等文件的任何条款是否终止，均应继续有效并保持完全效力。\n\n第6.9节 不放弃。\n\n任何一方未行使或延迟行使本协议项下、本文提及的任何协议、文件或文书项下，或任何其他贷款文件项下的任何权利、权力或特权，均不构成对其的放弃；本协议项下、任何其他贷款文件项下，或本文提及的任何其他协议、文件或文书项下对任何权利、权力或特权的任何一次或部分行使，均不妨碍对其作出其他或进一步行使，或行使任何其他权利、权力或特权；本协议项下、任何其他贷款文件项下，或本文提及的任何协议、文件或文书项下对任何权利、权力、特权或违约的任何放弃，均不构成对任何其他权利、权力、特权或违约的放弃，亦不构成对同一或任何其他条款或规定项下任何违约的放弃。贷款人在本协议、任何其他贷款文件或任何其他协议项下就任何违反、违约或违约事件产生的任何权利、权力或救济，任何既往交易惯例以及任何行使或未行使该等权利、权力或救济的延迟，均不得损害该等权利、权力或救济，或被解释为对其的放弃或对其的默许；贷款人就任何该等违反、违约或违约事件所采取的行动，或其对此作出的任何默许，亦不得影响或损害贷款人就任何其他违反、违约或任何违约事件享有的任何权利、权力或救济。本协议或其他贷款文件规定的所有权利和救济均为累积性权利和救济，并不排除法律上或衡平法上另有规定或可得的任何权利或救济。\n\n第6.10节 分别责任。\n\n各借款人应对其各自在本协议项下及其他贷款文件项下的义务单独且分别承担责任。\n\n第6.11节 不使第三方受益。\n\n本协议系为借款人和贷款人及其各自的继承人和获准受让人的唯一保护及法律利益而订立，任何其他人士均不得成为本协议或任何其他贷款文件的直接或间接法律受益人，亦不得就本协议或任何其他贷款文件享有任何直接或间接的诉因或权利主张。贷款人对任何并非本协议或其他贷款文件一方的人士不承担任何义务。\n\n第6.12节 约束效力。\n\n本协议应于作为本协议一方的各借款人和作为本协议一方的贷款人签署本协议，且该等已签署的副本已根据本协议条款交付给贷款人时生效。此后，本协议应对本协议项下各借款人和贷款人及其各自的继承人和获准受让人具有约束力，并仅为其利益而设。\n\n第6.13节 财产归集；款项被撤销。\n\n贷款人没有义务为任何借款人或任何其他人士的利益，或就任何义务或为偿付任何义务，归集任何财产。在贷款人从借款人处收到来自DIP担保物收益、行使抵销权所得、任何执行行动所得或以其他方式取得的付款，而该等付款随后被全部或部分宣告无效、认定为欺诈性或优先性付款、撤销，或被要求返还给受托人、接管人或任何其他方的范围内，原拟由该等付款清偿的义务或其部分，以及与其相关的所有留置权、权利和救济，均应恢复并继续保持完全效力，如同该等付款从未发生。\n\n第6.14节 不放弃；累积性救济。\n\n贷款人未行使或延迟行使任何贷款文件项下的任何权利、救济、权力或特权，均不构成对其的放弃；对本协议项下任何权利、救济、权力或特权的任何一次或部分行使，均不妨碍对其作出任何其他或进一步行使，或行使任何其他权利、救济、权力或特权。任何借款人、任何借款人的关联方或贷款人与贷款人之间的任何既往交易惯例，均不得有效地修改、变更或解除任何贷款文件的任何规定。\n\n第6.15节 抵销权。\n\n兹授权贷款人在任何违约事件持续期间的任何时间及不时，在适用法律允许的最大范围内，无须通知或催告（各借款人特此放弃该等通知和催告），将贷款人或其任何关联方在任何时间持有的任何及所有存款（无论为一般或特别存款、定期或活期存款、暂定或最终存款），以及贷款人或其任何关联方在任何时间对借款人应付或为借款人贷记或记入借款人账户的其他债务、债权或其他义务，与任何借款人现有或日后产生的任何义务进行抵销并用于清偿该等义务，无论是否已就该等义务根据任何贷款文件提出任何催告，且即使该等义务可能尚未到期亦然。本第6.15节项下的权利系对贷款人或其任何关联方可能享有的任何其他权利和救济（包括其他抵销权）的补充。\n\n第6.16节 DIP命令优先\n\n借款人和贷款人特此明确同意，如本协议（或任何其他贷款文件）与DIP命令之间存在任何冲突或不一致，应以DIP命令为准。尽管本协议中有任何相反规定，本协议的规定应视情况受DIP命令的条款、承诺、条件和规定约束。本协议在所有方面（包括就本协议项下规定的借款人的所有义务和协议而言）均受DIP命令条款约束，且尽管前述规定有任何内容，借款人均无须承担DIP命令条款禁止的任何义务、作出任何协议或采取任何行动。\n\n第7条\nDIP担保物\n\n第7.1节 授予担保权益。为担保义务的及时付款和履行，各借款人特此向贷款人授予对该借款人下列所有财产及该等财产收益的持续担保权益和留置权（“DIP留置权”），无论该等财产目前拥有或日后取得，且无论其位于何处（“DIP担保物”）：(a) Genever US 对专有租赁和股份（亦称“合作公寓权益”）的所有权权益；(b) Genever BVI 或 Genever US 已提起或将提起的诉讼所得收益（“借款人诉讼请求”），包括但不限于 AIG Litigation；(c) 以 Genever US 名义持有的存款账户中的任何及所有资金，包括现金存款；以及 (d) Genever BVI 对 Genever US 的所有权权益。\n\nDIP留置权应包括：(i) 根据第364(c)(2)条，对所有不受其他留置权约束的DIP担保物及其收益享有的完全完善的担保权益；以及(ii) 根据《破产法》（Bankruptcy Code）第364(c)(3)条，对在第11章案件开始时受有效、已完善且在其他方面不可撤销的留置权约束，或此后根据《破产法》第546(b)条允许而完善的DIP担保物享有的完全完善的次级担保权益；在每种情况下，均以除外额度、获准的SN优先债务债权以及在获准范围内的其他SN优先债务为限。\n\n第7.2节 限制。本协议项下授予的DIP担保物留置权仅作为担保而设，不应使贷款人承担或以任何方式修改借款人与任何DIP担保物有关的任何义务或责任。\n\n第7.3节 进一步保证。在收到贷款人的书面请求后，借款人应及时，但无论如何应在三个（3）营业日内，交付贷款人根据适用法律认为适当的文书和协议，并采取其认为适当的行动，以证明或完善其对任何DIP担保物的留置权，或以其他方式实现本协议的意图。\n\n第7.4节 DIP 担保物的保护。保护、储存、仓储、投保、处理、维护及运送借款人的任何 DIP 担保物的一切费用，借款人的任何 DIP 担保物（包括其任何出售）应缴纳的一切税款，以及贷款人为实现借款人的任何 DIP 担保物而须向任何主体支付的一切其他款项，均应由适用借款人承担并支付。贷款人对任何 DIP 担保物的保管、其任何灭失或损害（但 DIP 担保物处于贷款人实际占有期间，其保管应尽合理注意义务除外）、其价值的任何减损，或任何仓库保管人、承运人、货运代理机构或任何其他主体的任何作为或不作为，概不以任何方式承担责任；上述风险均由适用借款人单独承担。如任何政府机构已征收或可能征收任何税款、摊派或其他费用，或如有人提出任何请求，而贷款人根据其合理判断认为该请求可能对 DIP 担保物产生有效留置权，贷款人可在同时通知借款人的情况下支付或缴付该等税款、摊派或其他费用，且各借款人特此就此向贷款人作出赔偿并使其免受损害。对于任何适用借款人已适当提出异议的税款、摊派或费用，贷款人无需支付或缴付该等税款、摊派或费用。贷款人根据本第7.4节作出的任何付款金额，应由适用借款人于要求时以现金支付。\n\n第7.5节 所有权抗辩。各借款人应始终针对所有主体、请求和要求，维护其对其 DIP 担保物的所有权以及贷款人对该等担保物享有的留置权，但下列情况除外：(i) 已适当完善且不可撤销的申请前留置权，包括与该公寓有关的该等留置权，包括但不限于任何技工留置权或税务留置权；以及 (ii) 根据《破产法》第546(b)条于申请后完善的留置权。\n\n［签署页随后附上］\n\n兹证明，各方已促使本协议于上述首载日期正式签署。\n\n借款人：\n\nGENEVER HOLDINGS LLC（Genever 控股有限责任公司），一家纽约有限责任公司\n\n签署人：/s/ Luc A. Despins（卢克·A·德斯平斯）\n姓名：Luc A. Despins\n职务：Genever Holdings LLC 的代理持有人\n\nGENEVER HOLDINGS CORPORATION（Genever 控股公司），一家依英属维尔京群岛法律组织设立的公司\n\n签署人：/s/ Luc A. Despins\n姓名：Luc A. Despins\n职务：Genever Holdings Corporation 的代理持有人\n\n贷款人：\n\nLUC A. DESPINS，以其根据《破产法》第11章担任第11章受托人的身份\n\n签署人：/s/ Luc A. Despins\n姓名：Luc A. Despins\n职务：第11章受托人\n\n附件 A\n\n承诺额度\n\n贷款人　承诺额度\n\nLuc A. Despins，以其根据《破产法》第11章担任美国受托人的身份　$2,000,000.00\n\n合计　$2,000,000.00\n\n附件 A\n\n借款通知书格式\n\n________ ___, 202_\n\n致：Luc A. Despins，以其作为第11章受托人的身份\n转交 Paul Hastings LLP（保盛律师事务所）\n200 Park Avenue\nNew York, NY 10166\n收件人：Luc Despins\n电子邮箱：lucdespins@paulhastings.com\n\n事由：Genever Holdings LLC 和 Genever Holdings Corporation\n\n敬启者：\n\n兹提述由下列各方于 [•], 2023 签订的《多次提款高级有担保超级优先债务人占有期间信贷及担保协议》：(i) Genever Holdings LLC，一家纽约有限责任公司，并为第11章案件中的债务人及占有中债务人（“Genever US”）；(ii) Genever Holdings Corporation，一家依英属维尔京群岛法律注册的公司，并为第11章案件中的债务人及占有中债务人（“Genever BVI”，连同 Genever US，统称“借款人”）；以及 (iii) Ho Wan Kwok（郭文贵）的第11章破产财产（“个人债务人”），由其代表 Luc A. Despins 以其作为个人债务人第11章受托人（“第11章受托人”）的身份行事（该第11章破产财产称为“贷款人”）（经不时修订、补充、重述或以其他方式修改、续期或替换的，称为“DIP 信贷协议”）。本通知中使用但未定义的首字母大写术语，应具有 DIP 信贷协议中赋予该等术语的含义。\n\n借款人特此根据 DIP 信贷协议第2.2(b)节通知，其请求根据 DIP 信贷协议取得一笔贷款，并就此载明该笔贷款请求按下列条款发放：\n\n________________________________________\n\n(A) 贷款本金金额：$[______]\n\n(B) 贷款日期（应为营业日）：\n\n(C) 资金用途：________________________________\n\n借款人特此声明并保证，截至本通知日期，DIP 信贷协议第4条所载的全部条件均已满足。\n\n［签署页随后附上］\n\n谨致，\nGENEVER HOLDINGS LLC，一名借款人\n\n签署人：________________________________\n姓名：\n职务：\n\nGENEVER HOLDINGS CORPORATION，一名借款人\n\n签署人：________________________________\n姓名：\n职务：\n\n案件 22-50073　文件 2193　提交日期 09/12/23　录入日期 09/12/23 15:51:20　第45页，共48页\n\n附件 B\n\n核对清单\n\n用于现金担保物使用及申请后融资的动议和命令核对清单\n\n兹证明，下列核对清单信息反映了根据如下所示的 11 U.S.C. §§ 363 和/或 364 提出的现金担保物使用或申请后融资动议及拟议命令的实质内容：\n\n1. 程序识别：\n\na. 初步动议/命令　是　否　不适用\n\nb. 最终动议/命令　是　否　不适用\n\nc. 持续使用现金担保物（§ 363）　是　否　不适用\n\nd. 新融资（§ 364）　是　否　不适用\n\ne. §§ 363 和 364 融资的组合　是　否　不适用\n\nf. 紧急听证（即时且不可弥补的损害）　是　否　不适用\n\n2. 陈述：\n\na. 债务人业务的简要历史，以及债务人与贷款人先前关系状况的简要说明　是　否　不适用\n\nb. 融资目的及必要性的简要说明　是　否　不适用\n\nc. 融资类型的简要说明（即应收账款、存货）　是　否　不适用\n\nd. 贷款人的申请前担保权益及留置权是否被视为有效、已完全完善且不可撤销？　是　否　不适用\n\n(i) 是否有允许对上述事项提出异议的条款？　是　否　不适用\n\ne. 贷款人与债务人之间是否存在申请后融资协议？　是　否　不适用\n\nf. 如存在协议，贷款人的申请后担保权益及留置权是否被视为有效、已完全完善且不可撤销？　是　否　不适用\n\ng. 是否已对贷款人的非现金担保物进行评估？　是　否　不适用\n\nh. 填写最近一次评估的日期。　是\n\ni. 是否附有债务人拟议预算？　是　否\n\n否　不适用\n\n不适用\n\nj. 是否已识别所有申请前贷款文件？\n\nk. 是否存在申请前留置权？　是　否　不适用\n\nl. 是否存在申请前债务担保？　是　否　不适用\n\n3. 授予留置权：\n\na. 申请后留置权是否担保申请前债务？　是　否　不适用\n\nb. 是否存在交叉担保？\n\nc. 申请后留置权的优先顺位是否等同于或高于现有留置权？　是　否　不适用\n\nd. 申请后留置权是否具有追溯效力？　是　否　不适用\n\ne. 是否限制授予进一步留置权或同等或更高优先顺位的留置权？\n\nf. 是否向贷款人授予根据 §§ 506(c)、544-50 和 §§ 522 提出的请求权上的留置权？　是　否　不适用\n\n(i) 是否应支付贷款人的律师费？　是　否　不适用\n\n(ii) 债务人的律师费是否排除在 § 506(c) 之外？　是　否　不适用\n\ng. 是否向贷款人授予根据 §§ 544、547 和 548 提起的诉因收益上的留置权？　是　否　不适用\n\n案件 22-50073　文件 2193　提交日期 09/12/23　录入日期 09/12/23 15:51:20　第47页，共48页\n\n4. 行政优先请求权：\n\na. 是否向贷款人授予行政优先权？　是\n\n否\n\n不适用\n\nb. 行政优先权是否高于 § 507(a)？　是\n\n否\n\n不适用\n\nc. 是否因使用现有担保物而将申请前有担保请求权转为申请后行政请求权？　是\n\n否　不适用\n\n5. 充分保护（§ 361）：\n\na. 是否存在申请后债务偿付？　是\n\n否　不适用\n\nb. 是否存在替代性/额外的 § 361(1) 留置权？　是\n\n否　不适用\n\nc. 是否向贷款人的请求权授予超级优先权？　是\n\n否　不适用\n\nd. 是否存在担保？　否\n\n是　不适用\n\ne. 是否有充分的保险保障？　是\n\n否　不适用\n\n6. 放弃/解除针对贷款人的请求权：\n\na. 债务人是否放弃或解除针对贷款人的请求权，包括但不限于根据《法典》§§ 506(c)、544-550、552 和 553 提出的请求权？　是\n\n否　不适用\n\nb. 债务人是否放弃针对贷款人请求权或留置权的抗辩？　是\n\n否　不适用\n\nc. 拟议贷款人是否亦为申请前贷款人？　是\n\n否　不适用\n\nd. 是否为新的申请后贷款人？　是\n\n否　不适用\n\ne. 贷款人是否为内部人？　是\n\n否　不适用\n\n7. 中止的修改：\n\na. 是否允许对中止作出任何修改性解除？　是　否　不适用\n\nb. 自动中止是否将被解除，以允许贷款人在违约时无需进一步命令即可行使自助救济？　是　否　不适用\n\nc. 是否有无需法院进一步命令即可行使的其他救济？　是　否　不适用\n\nd. 是否有条款规定，任何未来对命令的修改均不影响债务人对贷款人的申请后义务的地位？　是　否　不适用\n\n8. 债权人委员会\n\na. 是否已任命债权人委员会？　是　否　不适用\n\nb. 债权人委员会是否同意？　是　否　不适用\n\n案件 22-50073　文件 2193\n提交日期 09/12/23\n录入日期 09/12/23 15:51:20\n9. 对利益相关方的限制：　第48页，共48页\n\na. 是否以任何方式限制计划提出人修改贷款人权利、留置权和/或诉因？\n\nb. 是否禁止债务人为追求其权利而寻求禁止贷款人？　是\n\n否\n\n不适用\n\nc. 是否禁止任何利益相关方寻求修改本命令？　是\n\n否\n\n不适用\n\nd. 是否以向贷款人偿还债务为作出任何命令的条件？　是\n\n否\n\n不适用\n\ne. 该命令在转换后是否对后续受托人具有约束力？　是\n\n否\n\n不适用\n\n是\n\n否\n\n不适用\n\n10. 追溯生效：\n\na. 是否有任何条款具有追溯效力？　是\n\n否\n\n不适用\n\n11. 通知及其他程序：\n\na. 是否请求缩短通知期限？　是\n\n否\n\n不适用\n\nb. 是否请求向缩短后的名单送达？　是\n\n否\n\n不适用\n\nc. 是否缩短答复期限？　是\n\n否\n\n不适用\n\nd. 如寻求最终命令，自根据 FRBP 4001(b)(2) 送达动议之日起是否已满15日？　是\n\n否\n\n不适用\n\ne. 如寻求初步命令，在最终听证前，为避免对破产财产造成即时且不可弥补的损害，是否有必要使用现金担保物？　是\n\n否\n\n不适用\n\nf. 是否包括协商证明？　是\n\n否\n\n不适用\n\ng. 是否包括送达证明？　是\n\n否\n\n不适用\n\nh. 是否包括依据 FRBP 9034 向美国受托人送交的核实证明？　是\n\n否\n\n不适用\n\ni. 在提交动议后是否已达成协议？\n\ni. 如是，是否已根据 FRBP 4001(d)(l) 送达该协议通知？　是\n\n否\n\n不适用\n\nii. 该协议是否为根据 FRBP 4001(d)(4) 对动议的和解？　是\n\n否\n\n不适用\n\niii. 该动议是否根据 FRBP 4001(d)(4) 对协议的重要条款给予合理通知？　是\n\n否\n\n不适用\n\niv. 该动议是否根据 FRBP 9014 规定了听证机会？　是\n\n否\n\n不适用\n\n签署日期：August 23, 2023\n\n签署人：/s/ Douglass Barron（道格拉斯·巴伦）","key_entities":["Je","Despins","CIPA","Kwok","Ho Wan Kwok","Paul Hastings","Guo","Luc Despins","Miles Guo"],"ecf_references":[],"word_count":17328,"status":"published","published_at":"2023-09-12 00:00:00","created_at":"2023-09-12","updated_at":"2026-08-23 21:54:24"}