CoreCivic Lease Agreements and ESG Strategy slide image

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 • • • 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 30 30
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