The US Bankruptcy Court gave an order to Hawaiian Vintage Chocolate Company, Inc. to obtain DIP financing on a final basis on December 22, 2021. As per the order, the debtor has been authorized to obtain a term loan in the total amount of $0.15 million shall get $0.08 million on intimal borrowing from Allison Investment Corp. The DIP loan would carry an interest rate of 12% p.a., along with an additional 16% p.a. interest in the event of default.

The DIP facility would mature either on February 28, 2022; (ii) an Event of Default as provided by the DIP Order; (iii) the Termination Date or (iv) the effective date of a chapter 11 plan of the Debtor. Adequate protection would be provided to the DIP lenders in the form of super-priority a administrative expense claims which is subject to a carve-out towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor's collateral.