Restructuring Costs means all expenses (whether paid in cash, stock or other consideration or through the incurring of liabilities in any form), associated with termination of operations or the cancellation of any licenses (including without limitation severance payments to employees, lease termination, etc.) pertaining to (1) JMMJ (but only to the extent such Restructuring Costs for JMMJ, exceed $1,000,000) and (2) MMPL (each as described in Item 2) above.
The initial issuance of Restructuring Bonds shall be for purposes reasonably acceptable to the Parties and solely for the purposes set forth in clauses (b), (d) and (e) of the definition of Approved Restructuring Costs as defined in Schedule I-A, and to the extent reasonably agreed by the Parties for the purpose set forth in clause (c) of such definition.
Issuance of Restructuring Bonds Restructuring Bonds may be issued at one time or (subject to satisfying the conditions set forth in this Term Sheet, including the Ratings Condition (defined below), and in the Trust Agreement relating to issuance of an additional series of Restructuring Bonds) from time to time for (i) defeasing Restructuring Bonds to achieve net present value debt service savings or (ii) other Approved Restructuring Costs (excluding defeasance of Restructuring Bonds).
Restructuring Costs We have compensation plans that provide eligible employees with severance in the event of an involuntary termination due to qualifying cost reduction actions.
Adjusted EBITDA and adjusted EBITDA before Restructuring Costs Adjusted EBITDA as defined equates to operating earnings (loss) plus depreciation and amortization and impairment and other closure costs.
In the event that Flextronics determines that it is necessary to restructure a legacy System House, then Nortel agrees to reimburse Flextronics for any severance, shut down or other restructuring costs incurred by Flextronics related to any restructuring of any legacy System Houses (Restructuring Costs) up to a maximum of ; provided that, Flextronics provides Nortel with supporting evidence, in reasonable detail, of the Restructuring Costs in respect of which it is seeking reimbursement.