Term Sheet for Proposed Restructuring Sample Clauses

Term Sheet for Proposed Restructuring. This term sheet (this “Term Sheet”) sets forth the principal terms and conditions of the agreed upon transactions described herein by and among the Company and the Consenting Noteholders with respect to a proposed Restructuring (the “Restructuring”) for J▇▇▇ ▇▇▇▇▇▇ Enterprises, Inc. (“JCEI”) and J▇▇▇ ▇▇▇▇▇▇ Holdings Corp. (“JCHC” and together with JCEI and their respective subsidiaries the “Company”). Reference is made to the Restructuring Support Agreement dated June 15, 2017 (the “JCHC Support Agreement”) by and among the Company and the Consenting Noteholders. Unless otherwise indicated, terms used but not defined herein shall have the meaning set forth in the JCHC Support Agreement. The implementation of the terms of the Restructuring as reflected herein are subject to the agreements and consents reflected herein and in the Support Agreements (defined below). THIS TERM SHEET IS NOT AN OFFER OR A SOLICITATION WITH RESPECT TO ANY SECURITIES OF THE COMPANY. ANY SUCH OFFER OR SOLICITATION SHALL COMPLY WITH ALL APPLICABLE SECURITIES LAWS PROVISIONS OF THE BANKRUPTCY CODE AND/OR OTHER APPLICABLE LAW. THIS TERM SHEET IS PROVIDED IN CONFIDENCE AND MAY NOT BE DISTRIBUTED WITHOUT THE EXPRESS WRITTEN CONSENT OF THE COMPANY AND THE CONSENTING NOTEHOLDERS. THIS TERM SHEET IS A SETTLEMENT PROPOSAL IN FURTHERANCE OF SETTLEMENT DISCUSSIONS. ACCORDINGLY, THIS TERM SHEET IS PROTECTED BY RULE 408 OF THE FEDERAL RULES OF EVIDENCE AND ANY OTHER APPLICABLE STATUTES OR DOCTRINES PROTECTING THE USE OR DISCLOSURE OF CONFIDENTIAL SETTLEMENT DISCUSSIONS. THIS TERM SHEET IS SUBJECT TO ONGOING REVIEW AND APPROVAL BY, AND IS NOT BINDING UPON, THE COMPANY, AND THE CONSENTING NOTEHOLDERS IS SUBJECT TO MATERIAL CHANGE, AND IS BEING DISTRIBUTED FOR DISCUSSION PURPOSES ONLY.