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Full title: Notice of Presentment of Stipulation Regarding Drawdown on Letter of Credit filed by Paul Rubin on behalf of ESRT 1400 Broadway, L.P.. with presentment to be held on 6/28/2021 (check with court for location) (Rubin, Paul) (Entered: 06/14/2021)

Document posted on Jun 13, 2021 in the bankruptcy, 7 pages and 0 tables.

Bankrupt11 Summary (Automatically Generated)

PLEASE TAKE FURTHER NOTICE that if objections are timely filed a hearing may be scheduled before the Honorable Michael E. Wiles, Bankruptcy Judge for the United States Bankruptcy Court for the Southern District of New York, at One Bowling Green, New York, New York 10004.This stipulation (the “Stipulation”), dated as of June 14, 2021, is entered into by and among ESRT 1400 Broadway, L.P. (the “Landlord”), 1400 Broadway Bakery, LLC (the “Tenant”), Cosmoledo LLC (the “Guarantor,” and together with the Tenant, the “Debtors”), and the Official Committee of Unsecured Creditors appointed in the Debtors’ chapter 11 cases (the “Committee,” and together with the Landlord and the Debtors, each a “Party” and collectively the “Parties”).WHEREAS, on September 18, 2020, the United States Trustee for Region 2 appointed three of the Debtors’ unsecured creditors to serve as members of the Committee; and WHEREAS, before the Petition Date, the Landlord leased the premises located at 1400 Broadway, Suites 101 and C101, New York, New York (the “Premises”) to the Tenant pursuant to that certain Agreement of Lease, dated as of October 28, 2016 (the “Lease”); and WHEREAS, on January 8, 2021, the Landlord filed a proof of claim against the Tenant, designated as claim number 164 on the Debtors’ claims register, asserting a claim in the amount of no less than $1,113,252.31 as of the Petition Date (including a secured claim in the amount of $182,898.59 based on the Letter of Credit), due to pre-Petition Date arrearages and based on damages arising from the rejection of the Lease in accordance with section 502(b)(6) of the Bankruptcy Code (the “Tenant POC”); and WHEREAS, on January 8, 2021, the Landlord filed a proof of claim against the Guarantor, designated as claim number 165 on the Debtors’ claims register, asserting an unsecured claim in the amount of no less than $1,113,252.31 as of the Petition Date, due to pre-Petition Date arrearages and based on damages arising from the rejection of the Lease in accordance with section 502(b)(6) of the Bankruptcy Code (the “Guarantor POC,” and together with the Tenant POC, the “Landlord Prepetition Claims”); and The remaining Landlord Prepetition Claims after reduction in accordance with this paragraph will be unsecured claims against the Debtors, and the reduced Landlord Prepetition Claims will be reflected on the Debtors’ claims registers without the need for the Landlord to file amended proofs of claim.

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RUBIN LLC Paul A. Rubin Hanh V. Huynh 345 Seventh Avenue, 21st Floor New York, New York 10001 Tel: 212.390.8054 Fax: 212.390.8064 prubin@rubinlawllc.com hhuynh@rubinlawllc.com Counsel for the ESRT 1400 Broadway, L.P. UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - x : In re: : Chapter 11 : COSMOLEDO, LLC, et al., : Case No.: 20-12117 (MEW) : Debtors. : (Jointly Administered) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - x NOTICE OF PRESENTMENT OF STIPULATION REGARDING DRAWDOWN ON LETTER OF CREDIT PLEASE TAKE NOTICE that the undersigned, on behalf of ESRT 1400 Broadway, L.P (“ESRT”) will present the attached Stipulation Regarding Drawdown on Letter of Credit (the “Stipulation”) to the Honorable Michael E. Wiles, Bankruptcy Judge for the United States Bankruptcy Court for the Southern District of New York, at One Bowling Green, New York, New York 10004, for signature June 28, 2021 at 12:00 p.m. (the “Presentment Date”). PLEASE TAKE FURTHER NOTICE that any objections to the entry of the Stipulation must be in writing and filed with the Bankruptcy Court in accordance with the Local Rules, and served upon undersigned counsel for ESRT so as to be received no later than June 28, 2021 at 12:00 p.m. If no objections are timely filed and served, the Stipulation may be entered by the Bankruptcy Court without a hearing. PLEASE TAKE FURTHER NOTICE that if objections are timely filed a hearing may

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be scheduled before the Honorable Michael E. Wiles, Bankruptcy Judge for the United States Bankruptcy Court for the Southern District of New York, at One Bowling Green, New York, New York 10004. If a hearing is scheduled the moving party will be obligated to notify all other parties entitled to receive notice of the hearing date and time. The moving and objecting parties are required to attend the hearing, and failure to attend may result in relief being granted or denied upon default. Dated: New York, New York June 14, 2021 RUBIN LLC By: /s/ Paul A. Rubin Paul A. Rubin Hanh V. Huynh 345 Seventh Avenue, 21st Floor New York, New York 10001 Tel: 212.390.8054 Fax: 212.390.8064 prubin@rubinlawllc.com hhuynh@rubinlawllc.com

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UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - x : In re: : Chapter 11 : COSMOLEDO, LLC, et al., : Case No.: 20-12117 (MEW) : Debtors. : (Jointly Administered) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - x STIPULATION REGARDING DRAWDOWN ON LETTER OF CREDIT This stipulation (the “Stipulation”), dated as of June 14, 2021, is entered into by and among ESRT 1400 Broadway, L.P. (the “Landlord”), 1400 Broadway Bakery, LLC (the “Tenant”), Cosmoledo LLC (the “Guarantor,” and together with the Tenant, the “Debtors”), and the Official Committee of Unsecured Creditors appointed in the Debtors’ chapter 11 cases (the “Committee,” and together with the Landlord and the Debtors, each a “Party” and collectively the “Parties”). The Parties hereby stipulate and agree as follows: RECITALS WHEREAS, On September 10, 2020 (the “Petition Date”), the Debtors filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”); and WHEREAS, on September 18, 2020, the United States Trustee for Region 2 appointed three of the Debtors’ unsecured creditors to serve as members of the Committee; and WHEREAS, before the Petition Date, the Landlord leased the premises located at 1400 Broadway, Suites 101 and C101, New York, New York (the “Premises”) to the Tenant pursuant to that certain Agreement of Lease, dated as of October 28, 2016 (the “Lease”); and

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WHEREAS, the Tenant’s obligations under the Lease were guaranteed by co-debtor Guarantor pursuant to that certain Guarantee dated as of October 28, 2016 (the “Guarantee”) given by the Guarantor in favor of Landlord; and WHEREAS, in accordance with the Lease, the Tenant provided a letter of credit (the “Letter of Credit”) as a security deposit, pursuant to which the Landlord is the beneficiary thereunder; and WHEREAS, as of the Petition Date, the sum of $182,898.59 (the “LC Funds”) had not been drawn down, and is currently remaining as of the date hereof, under the Letter of Credit; and WHEREAS, on September 11, 2020, the Debtors filed a motion [ECF No. 16] to reject the Lease, and on November 2, 2020, the Court entered an order (the Rejection Order”) [ECF No. 165] authorizing the Debtors to reject the Lease as of November 2, 2020 (the “Rejection Date”); and WHEREAS, the Rejection Order includes the following decretal paragraph: “Consistent with the limitations of section 362 of the Bankruptcy Code, and any other applicable law, the Landlords are prohibited from setting off or otherwise utilizing any amounts deposited by the Debtors with any of the Landlords as a security deposit or pursuant to another similar arrangement … without further order of this Court;” and WHEREAS, on January 8, 2021, the Landlord filed a proof of claim against the Tenant, designated as claim number 164 on the Debtors’ claims register, asserting a claim in the amount of no less than $1,113,252.31 as of the Petition Date (including a secured claim in the amount of $182,898.59 based on the Letter of Credit), due to pre-Petition Date arrearages and based on damages arising from the rejection of the Lease in accordance with section 502(b)(6) of the Bankruptcy Code (the “Tenant POC”); and

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WHEREAS, on January 8, 2021, the Landlord filed a proof of claim against the Guarantor, designated as claim number 165 on the Debtors’ claims register, asserting an unsecured claim in the amount of no less than $1,113,252.31 as of the Petition Date, due to pre-Petition Date arrearages and based on damages arising from the rejection of the Lease in accordance with section 502(b)(6) of the Bankruptcy Code (the “Guarantor POC,” and together with the Tenant POC, the “Landlord Prepetition Claims”); and WHEREAS, the Parties have agreed to clarify the terms of the Landlord’s drawdown of the LC Funds in the context of the Rejection Order in a cost- and time-efficient manner for the Parties and the Debtors’ estates. NOW THEREFORE, in consideration of the premises set forth above, the Parties hereby stipulate and agree, subject to approval by the Court, as follows: 1. This Stipulation shall be effective on the date on which the Court enters an order approving this Stipulation (the “Effective Date”). 2. Following the Effective Date, the Debtors will not object to the Landlord’s drawdown and retention of the LC Funds. 3. Upon the Landlord’s drawdown of the LC Funds, each of the Landlord Prepetition Claims will be reduced by the amount of $182,898.59. The remaining Landlord Prepetition Claims after reduction in accordance with this paragraph will be unsecured claims against the Debtors, and the reduced Landlord Prepetition Claims will be reflected on the Debtors’ claims registers without the need for the Landlord to file amended proofs of claim. 4. Other than the agreement set forth herein to reduce the Landlord Prepetition Claims, nothing in this Stipulation shall be construed to fix, estimate or liquidate the Landlord Prepetition Claims for any purpose. Nothing in this Stipulation shall, or shall be construed to, allow the

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Landlord Prepetition Claims for any purpose. All of the Parties’ rights with respect to the Landlord Prepetition Claims are hereby reserved. 5. To the extent that it is applicable, the automatic stay under section 362 of the Bankruptcy Code is hereby modified to permit the Parties to take the actions described in this Stipulation, including the drawdown of the LC Funds by Landlord. 6. This Stipulation may be executed in counterparts, each of which shall be deemed to be an original. A copy of this Stipulation shall be deemed to be valid and binding as if it was an original. The signature of any signatory to this Stipulation may be executed through the use of facsimile transmission or by way of PDF as an attachment to an email, in which case the signature on this Stipulation shall be effective as if an original signature were affixed hereto, and may be relied upon by the Parties hereto. 7. This Stipulation shall not be modified, terminated, or vacated without the written consent of all Parties or further order of the Court. 8. Each individual who signs this Stipulation on behalf of a Party represents and warrants that he or she has been duly authorized to sign this Stipulation on behalf of that Party and has the authority to bind it to the terms and conditions contained in this Stipulation. 9. Except as otherwise specifically provided for herein, nothing contained in this Stipulation shall create any rights, remedies or defenses in favor of any person or entity that is not a Party to this Stipulation. 10. Notwithstanding the applicability of Bankruptcy Rule 4001(a)(3), the terms and provisions of this Stipulation immediately shall be effective and enforceable upon the Effective Date and shall thereafter be binding upon the Parties hereto and their respective affiliates and successors.

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11. The Court shall retain jurisdiction to resolve any disputes or controversies arising from this Stipulation. IN WITNESS HEREOF, the Parties have executed, or caused this Stipulation to be executed, by their duly authorized representatives as of the date set forth above. RUBIN LLC MINTZ &GOLD, LLP By: /s/ Paul A. Rubin By: /s/ Andrew R. Gottesman Paul A. Rubin, Esq. Andrew R. Gottesman, Esq. 345 Seventh Avenue, 21st Floor 600 Third Avenue, 25th Floor New York, NY 10001 New York, NY 10016 Tel.: (212) 390-8054 Tel.: (212) 696-4848 prubin@rubinlawllc.com gottesman@mintzandgold.com Counsel for ESRT 1400 Broadway, L.P. Counsel for the Debtors HAHN & HESSEN LLP By: /s/ Mark S. Indelicato Mark S. Indelicato, Esq. 488 Madison Avenue New York, NY 10022 Tel.: (212) 478-7200 mindelicato@hahnhessen.com Counsel for the Official Committee of Unsecured Creditors IT IS SO ORDERED: Dated: New York, New York , 2021 UNITED STATES BANKRUPTCY JUDGE

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