As part of the tender offer and consent solicitation, JCHC solicited consents from the holders of the Notes for certain proposed amendments that would (i) eliminate most of the restrictive covenants and certain events of default contained in the indenture governing the Notes and (ii) release all liens of the collateral agent of the collateral securing the Notes (the "Proposed Amendments").
On June 18, 2013, JCHC delivered notice that it had called for the redemption of all the Notes that remained outstanding following the Early Payment Date, at a price equal to 106.
None of JCHC, the dealer manager and the solicitation agent, the tender agent, the information agent or their respective affiliates is making any recommendation as to whether or not holders should tender all or any portion of their Notes in the tender offer or deliver their consents in the consent solicitation.
The Tender Offer and Consent Solicitation are being made by JCHC pursuant to an offer to purchase and consent solicitation statement (the "Statement") and a related letter of transmittal, each dated as of June 3, 2013.
JCHC may extend the Consent Payment Deadline without extending the Withdrawal Deadline.
If JCHC elects to exercise this option, JCHC will pay the total consideration or tender offer consideration, as the case may be, for the Notes accepted for purchase promptly following the acceptance of Notes for purchase (the date of such payment is referred to as the "Early Payment Date").
1% of the number of the Shares not owned by JCHC
or its affiliates, (3) the approval by our board and our Class A common stock holders, and the filing of, a certificate of amendment to the Certificate of Designations with the Secretary of State of the State of Delaware and (4) other general conditions, each of which as more fully described in the Statement.