PROPOSED RESTRUCTURING TERM SHEET Sample Clauses

PROPOSED RESTRUCTURING TERM SHEET. The following summarizes the principal terms and conditions of a proposed recapitalization and restructuring (the “Restructuring”) of the equity in and indebtedness of the Company (as defined below). The following terms and conditions are part of a comprehensive compromise and settlement between the Company and certain of its equity and debt constituencies. Each element of this compromise is consideration for each other element and an integral aspect of the proposed restructuring. This proposed term sheet does not constitute an offer or a legally binding obligation of the Company, any Noteholder (as defined below), equity, or any other party in interest, nor does it constitute an offer of securities or a solicitation of acceptances or rejections of any Chapter 11 plan for the Company. This term sheet is delivered and may only be used in connection with settlement discussions between the parties described in this term sheet and is entitled to protection from any use or disclosure to any party or person under Federal Rule of Evidence 408 and any other rule of similar effect. Company: TOUSA, Inc. (“TOUSA”, and, as reorganized, “Reorganized TOUSA”, f/k/a Technical Olympic Inc.) and certain of its subsidiaries (together with TOUSA, the “Company” and, as reorganized with Reorganized TOUSA, the “Reorganized Company”).