CoreCivic Lease Agreements and ESG Strategy
Defaults and Remedies
Lessee Default Events
Default Event
Non-Payment
Representations and
Warranties
Lessee Breach
Description
Failure to make payments to the Lessor
when due, unless the failure to make
payment is a result of the failure of the
State Legislature to appropriate the
necessary funds or the fault of a third
party
Breach of a representation or warranty in
any material respect or any materially
inaccurate representation or warranty
Any other material breach of the Lease
Cure Period
30 days
60 days
60 days
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Lessor Remedies
If Lessor, in its discretion, elects not to treat an applicable
Lessee Default as a Pre-Payment Event, then Lessor may
treat the Lessee Default as an Adjustment Event on the
terms and conditions set forth in the Lease
Lessor may deduct and offset any damages owing to Lessor
from Lessee under the Lease Documents from and against
any amounts Lessor may owe Lessee. If the amount of
damages owing Lessor is not liquidated or known with
certainty at the time a payment is due from Lessor, Lessor
may deduct and offset up to 100% of the amount it
reasonably estimates is due, which amount (or applicable
lesser amount) shall be paid back to Lessee by Lessor if
and as directed pursuant to the resolution of the Dispute
Cross Default between Leases: Any Non-Appropriation
Event under the Other Facility Lease that is not timely cured
in accordance with applicable provisions of the Other Facility
Lease, and subject to each Party's respective rights and
remedies therein, shall be deemed a Non-Appropriation
Event under this Lease, and constitutes a Pre-Payment
Event under this Lease
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