Letter Agreement and Term Sheet Brookfield / AppaloosaLetter Agreement • July 22nd, 2016 • Brookfield Asset Management Inc. • Operators of nonresidential buildings • New York
This Term Sheet contains certain understandings relating to the terms on which Brookfield Asset Management Inc. and its affiliates (collectively, “Brookfield”) and Appaloosa LP (“Appaloosa”) will engage in discussions with respect to the transactions described herein. Neither Brookfield nor Appaloosa (nor any of its affiliates) shall have any obligation, express or implied, to propose or complete any transaction, or to enter into a Definitive Agreement, and any such person or entity may at any time, and for any reason or no reason at all, and without any liability, determine not to pursue or proceed with any transaction. This Term Sheet supersedes and replaces any prior term sheet or discussions regarding the transactions described herein or any other potential transaction involving the parties hereto.
