CoreCivic Lease Agreements and ESG Strategy
Project Development Cost Payment
Termination and Pre-Payment Events
Pre-Payment Calculation
Pre-Payment
Event
Lessee Non-
Payment Default
Lessee Persistent
Default
Non-Appropriation
Event
Base Formula
The Project Development Cost
Payment
+ The Services Breakage Payment
Court Ruling Event
The Project Development Cost
Payment
Taking Event
+ The Services Breakage Payment
Extended Relief
Event
Pre-Payment
Event
Prior to Occupancy
100% Lessor Outstanding Debt
+ Contributed Equity
+ Adjustment Amounts
- Account Balances
- Available Insurance Amounts
Prior to Occupancy
100% Lessor Outstanding Debt
+ Contributed Equity
+ Adjustment Amounts
- Account Balances
During Occupancy Period
100% Lessor Outstanding Debt
+ Contributed Equity
+ All Equity Distributions anticipated
in the Base Case Financial Model
Discounted at the Equity IRR
+ Net Lease Payments Due
+ Net Adjustment Amounts Due
- Account Balances
- Available Insurance Payments
During Occupancy Period
100% Lessor Outstanding Debt
+ Contributed Equity
- Prior Distributions
+ Net Lease Payments Due
+ Net Adjustment Amounts Due
- Available Insurance Amounts
- Account Balances
- Any Proceeds from a Taking
- Available Insurance Amounts
- Any Proceeds from a Taking
Lessor Outstanding Debt means (a) all amounts
outstanding, including interest and default
interest accrued, and payable by Lessor to the
Lenders provided that such amount shall not
exceed the amount reflected in the Base Case
Financial Model at the time of payment of the
Project Development Cost Payment and that
default interest will not include any increased
interest, fees, or penalty amounts payable by
Lessor for any reason other than a failure by
Lessor to pay any when due, plus (b) all other
fees, costs and expenses for which Lessor is
responsible, including any Lessor Outstanding
Breakage Amounts which may include
premiums, penalties and make-whole payments
Lessor Default
Base Formula
Prior to Occupancy
100% of the Lessor Outstanding Debt
- Account Balances
- Available Insurance Amounts
During Occupancy Period
100% of the Lessor Outstanding Debt amount
+ Net Lease Payments Due
+ Net Adjustment Amounts Due
- Account Balances
- Available Insurance Amounts
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