Document:

EX-10.1

 Exhibit 10.1 
 FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 
 This First Amendment to
the Amended and Restated Credit Agreement (as defined below) (this “Amendment”) is dated as of March 22, 2013, by and among CORRECTIONS CORPORATION OF AMERICA, a Maryland corporation (the “Borrower”), certain
subsidiaries of the Borrower party hereto (the “Subsidiary Guarantors”), the Lenders (as defined below) party hereto and BANK OF AMERICA, N.A., a national banking association, as administrative agent for the Lenders party to the
Credit Agreement (the “Administrative Agent”). 
 STATEMENT OF PURPOSE: 

The Borrower, certain financial institutions (the “Lenders”) and the Administrative Agent are parties to the Amended and
Restated Credit Agreement dated as of January 6, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). 

The Borrower has requested that the Administrative Agent and the Lenders agree to amend the Credit Agreement as more specifically set
forth herein. Subject to the terms and conditions set forth herein, the Administrative Agent and the Lenders party hereto have agreed to grant such requests of the Borrower. 
 AGREEMENTS: 
 NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Capitalized Terms. All
capitalized undefined terms used in this Amendment (including, without limitation, in the introductory paragraph and the statement of purpose hereto) shall have the meanings assigned thereto in the Credit Agreement. 

2. Amendments to Credit Agreement. Subject to and in accordance with the terms and conditions set forth herein, and effective on
and after the First Amendment Effective Date (as defined below), the Credit Agreement is hereby amended in accordance with this Section 2. 
 (a) New Definition. The following new definitions are hereby added to Section 1.1 of the Credit Agreement in correct alphabetical order: 

“ ‘E&P Distribution’ means the one-time special distribution to the Borrower’s stockholders
(composed of cash and Capital Stock of the Borrower, subject to a cap on the total amount of cash equal to 20% of the aggregate amount of such distribution plus any cash paid in lieu of the issuance of fractional shares) as required to be
eligible to be taxed as a REIT under the Code and as described in more detail as the “E&P Distribution” in the Borrower’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012. 

‘First Amendment Effective Date’ means March 22, 2013. 

‘Funds from Operations’ means, for any period, Consolidated Net Income for such period, plus
depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures calculated on the same basis. 
 ‘REIT’ means a real estate investment trust under Sections 856-860 of the Code.” 

 (b) Amendments to Section 1.1 (Definitions). Section 1.1 of the
Credit Agreement is hereby amended as follows: 
 (i) The definition of “Adjusted Net Income” is hereby
deleted in its entirety. 
 (ii) The definition of “Consolidated EBITDA” is hereby amended and restated
in its entirety as follows: 
 “ ‘Consolidated EBITDA’ means, for any period, the
Consolidated Net Income of the Borrower and its Restricted Subsidiaries for such period, plus (a) an amount equal to any extraordinary, unusual or non-recurring charges, plus any net loss realized by the Borrower or any of its Restricted
Subsidiaries in connection with an Asset Disposition, to the extent such charges or losses were deducted in computing such Consolidated Net Income, plus (b) provision for taxes based on income or profits of the Borrower and its
Restricted Subsidiaries for such period, to the extent that such provision for taxes was deducted in computing such Consolidated Net Income, plus (c) Consolidated Interest Expense for such period, whether paid or accrued and whether or
not capitalized, to the extent that any such expense was deducted in computing such Consolidated Net Income, plus (d) depreciation, amortization (including amortization of intangibles but excluding amortization of prepaid cash expenses
that were paid in a prior period) and other non-cash expenses (including minority interest expense, but excluding any such non-cash expense to the extent that it represents an accrual of or reserve for cash expenses in any future period or
amortization of a prepaid cash expense that was paid in a prior period) of the Borrower and its Restricted Subsidiaries for such period to the extent that such depreciation, amortization and other non-cash expenses were deducted in computing such
Consolidated Net Income, minus (e) non-cash items (including gains attributable to minority interests) increasing such Consolidated Net Income for such period, other than the accrual of revenue in the ordinary course of business,
minus (f) an amount equal to any extraordinary, unusual or non-recurring gains to the extent such gains were included in computing such Consolidated Net Income, in each case, on a Consolidated basis and determined in accordance with
GAAP. For purposes of this Agreement, Consolidated EBITDA shall be adjusted on a pro forma basis, in a manner reasonably acceptable to the Administrative Agent, to include, as of the first day of any applicable period, any Permitted
Acquisitions (if accounted for as a merger or consolidation) and any Asset Dispositions (excluding any Asset Disposition for an aggregate consideration of $10,000,000 or less) closed during such period, including, without limitation, adjustments
reflecting any non-recurring costs and any extraordinary expenses of any Permitted Acquisitions and any Asset Dispositions closed during such period calculated on a basis consistent with GAAP and Regulation S-X of the Securities Exchange Act of
1934, as amended, or as approved by the Administrative Agent.” 
 (iii) The definition of “Consolidated
Fixed Charges” is hereby amended by replacing clause (d) therein in its entirety with the following: 

“plus, (d) the product of (i) all dividends, whether paid or accrued and whether or not in cash, on
any series of preferred stock, other than (1) dividends on Capital Stock payable in Capital Stock of the Borrower (other than 

  
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Disqualified Stock), (2) the E&P Distribution or (3) dividends to the Borrower or a Restricted Subsidiary of the Borrower, times (ii) a fraction, the numerator of which
is one and the denominator of which is one minus the then current combined federal, state and local effective cash tax rate of the Borrower, expressed as a decimal, plus, (e) regularly scheduled installments of principal payable with
respect to all Consolidated Total Indebtedness (but excluding any balloon payments due at maturity).” 

(iv) The definition of “Consolidated Net Income” is hereby amended by deleting the word “and”
immediately preceding clause (d) therein and adding the following new clause (e): 
 “and (e) the
costs and expenses associated with the Borrower’s conversion to a REIT, including, without limitation, planning and advisory costs related to the foregoing, will be excluded (provided that the aggregate amount of costs and expenses in
connection with the REIT conversion that may be excluded pursuant to this clause (e) shall not exceed $25,000,000 in the aggregate for Fiscal Years 2012 and 2013 of the Borrower).” 

(v) The definition of “Designated Asset Contract” is hereby amended by replacing the reference therein to
“and (xiii)” with the following: 
 “(xiii) Agreement dated August 31, 2012, between the
State of Arizona Department of Corrections and Corrections Corporation of America, as amended by Amendment No. 1 executed by the State of Arizona Department of Corrections on January 7, 2013 and on behalf of Corrections Corporation of
America and CCA of Tennessee, LLC on January 17, 2013, relating to the Red Rock Correctional Center and (xiv)” 
 (vi) The definition of “Designated Assets” is hereby amended by: 
 (A) replacing the reference therein to “and Washington D.C.” with “Washington, D.C.; and Eloy, Arizona (Red Rock Correctional Center)”, and 

(B) replacing the reference therein to the date “November 30, 2011” with “December 31, 2012”.

 (vii) The definition of “FATCA” is hereby amended and restated in its entirety as follows:

 “ ‘FATCA’ means Sections 1471 through 1474 of the Code, as of the date of this Agreement
(or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to
Section 1471(b)(1) of the Code.” 
 (viii) The definition of “L/C Commitment” is hereby
amended by replacing the reference therein to “One Hundred Million Dollars ($100,000,000)” with “Fifty Million Dollars ($50,000,000)”. 

  
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 (ix) The definition of “LIBOR” is hereby amended by replacing the
proviso to clause (p) therein in its entirety as follows: 
 “ ‘LIBOR’ means, for any
Interest Period, the rate per annum equal to the British Bankers Association LIBOR Rate or any successor thereto as approved by the Administrative Agent if the British Bankers Association is no longer making a LIBOR Rate available, as published by
Reuters (or other commercially available source providing quotations of LIBOR as designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two (2) London Banking Days prior to the commencement of such
Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period. If such rate is not available at such time for any reason, then “LIBOR” for such Interest Period
shall be the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the first day of such Interest Period in same day funds in the approximate amount of the LIBOR Rate Loans being made,
continued or converted by Bank of America and with a term equivalent to such Interest Period would be offered by Bank of America’s London Branch to major banks in the London interbank eurodollar market at their request at approximately 11:00
a.m. (London time) two (2) London Banking Days prior to the commencement of such Interest Period. For purposes hereof, “London Banking Day” means any day on which dealings in Dollar deposits are conducted by and between banks
in the London interbank eurodollar market.” 
 (x) The definition of “Permitted Investments” is
hereby amended by replacing the proviso to clause (p) therein in its entirety as follows: 

“provided that such Person is engaged primarily in a Permitted Business” 

(xi) The definition of “Revolving Credit Commitment” is hereby amended by amending and restating the last
sentence thereof as follows: 
 “The Revolving Credit Commitment of all Revolving Credit Lenders on the
First Amendment Effective Date shall be Nine Hundred Million Dollars ($900,000,000).” 
 (xii) The
definition of “Revolving Credit Maturity Date” is hereby amended by amending by replacing the reference therein to the date “December 30, 2016” with “December 29, 2017”. 

(xiii) The definition of “Senior Unsecured 2014 Notes” is hereby deleted in its entirety. 

(xiv) The definition of “Senior Unsecured Notes” is hereby amended and restated in its entirety as follows:

 “ ‘Senior Unsecured Notes’ means the collective reference to (i) the Senior
Unsecured 2017 Notes and (ii) any other instruments and agreements entered into by the Borrower or its Subsidiaries in connection therewith, in each case, as amended, restated, supplemented or otherwise modified from time to time as permitted
by the terms and conditions of this Agreement. Solely for purposes of Sections 10.9 and 10.10, “Senior Unsecured Notes” shall include any 

  
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other senior unsecured notes issued by the Borrower and permitted by this Agreement so long as the indenture or supplemental indenture pursuant to which such senior unsecured notes are
issued contains no restrictions on the ability of the Borrower or a Restricted Subsidiary to incur Liens on or with respect to any of its assets or properties as security for the Obligations, or on the ability of a Restricted Subsidiary to pay
dividends to the Borrower, that in either case are more restrictive on the Borrower and its Restricted Subsidiaries than those set forth in the Base Indenture dated as of January 23, 2006, among the Borrower, certain of its Subsidiaries and
U.S. Bank National Association, as trustee, as amended and supplemented prior to the Closing Date (the “2006 Indenture”). A Lien restriction that contains an exception for liens on real or personal property of the Borrower and any
Subsidiary Guarantor securing Indebtedness and other obligations under “credit facilities” (which would specifically include the Obligations) in an aggregate principal amount not to exceed an amount that is not less than $1,000,000,000
will be deemed to be no more restrictive on the Borrower and its Restricted Subsidiaries than the corresponding Lien restriction of the 2006 Indenture.” 
 (c) Amendment to Section 2.7 (Increase in Revolving Credit Facility). Section 2.7(c) of the Credit Agreement is hereby amended by amending and restating clause (vi) thereof in
its entirety as follows: 
 “(vi) in no event shall the aggregate amount of all increases in the Revolving
Credit Commitment pursuant to this Section 2.7 (including the requested increase) plus the aggregate amount of all Incremental Term Loans made pursuant to Section 2.8, in each case after the First Amendment Effective
Date, exceed $100,000,000;” 
 (d) Amendment to Section 2.8 (Incremental Term Loans).
Section 2.8(c) of the Credit Agreement is hereby amended by amending and restating clause (vii) thereof in its entirety as follows: 
 “(vii) in no event shall the aggregate principal amount of all Incremental Term Loans made pursuant to this Section 2.8 (including the requested Incremental Term Loan) plus the
aggregate amount of all increases in the Revolving Credit Commitment pursuant to Section 2.7, in each case after the First Amendment Effective Date, exceed $100,000,000;” 

(e) Amendment to Section 6.1 (Representations and Warranties). Section 6.1 of the Credit Agreement is hereby
amended by adding the following new clause (z) in correct alphabetical order: 
 “(z) REIT
Status. The Borrower qualifies as a REIT and is in compliance with all requirements and conditions imposed under the Code necessary to allow it to maintain such qualification.” 

(f) Amendment to Section 8.16 (Senior Unsecured Notes). Section 8.16 of the Credit Agreement is hereby amended
and restated in its entirety as follows: 
 “(a) Senior Unsecured 2017 Notes. Commencing on the date
that is six months prior to the maturity date of the Senior Unsecured 2017 Notes and at all times thereafter until the date on which the Borrower refinances, repays or defeases in full the Senior Unsecured 2017 Notes, the Borrower shall maintain
(individually or through a combination of the following) unrestricted domestic cash and Cash Equivalents plus the 

  
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unused portion of the Revolving Credit Commitments in an amount equal to or greater than the sum of (i) the amount necessary to fully repay the outstanding principal of, premium, if any, and
interest on the Senior Unsecured 2017 Notes plus (ii) $125,000,000. 
 (b) Certificates.
During any period for which the Borrower is required to maintain cash and Cash Equivalents plus availability under the Revolving Credit Commitments pursuant to subsection (a) above, the Borrower shall provide to the Administrative Agent on a
monthly basis an officer’s certificate of the Borrower, setting forth in reasonable detail calculations demonstrating compliance with the requirements of subsection (a) as of the date of such certificate.” 

(g) Amendment to Article VIII (Affirmative Covenants). Article VIII of the Credit Agreement is hereby amended by adding the
following new Section 8.18 in correct numerical order: 
 “SECTION 8.18 REIT Status. The
Borrower shall at all times comply with all requirements and conditions imposed under the Code necessary to maintain its qualification as a REIT.” 
 (h) Amendment to Section 9.2 (Consolidated Secured Leverage Ratio). Section 9.2 of the Credit Agreement is hereby amended by replacing the reference therein to “2.75”
with “3.25”. 
 (i) Amendment to Article IX (Financial Covenants). Article IX of the Credit Agreement is
hereby amended by amending and restating Section 9.3 thereof in its entirety as follows: 
 “SECTION
9.3 Consolidated Fixed Charge Coverage Ratio. As of any fiscal quarter end, permit the Consolidated Fixed Charge Coverage Ratio to be less than 1.75 to 1.00.” 
 (j) Amendment to Section 10.5 (Restricted Payments). Section 10.5 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“SECTION 10.5 Restricted Payments. (a) Declare or pay any dividend or make any other payment or
distribution on account of the Borrower’s, or any Restricted Subsidiary’s, Capital Stock (including, without limitation, any payment in connection with any merger or consolidation involving the Borrower or any Restricted Subsidiary) or to
the direct or indirect holders of the Borrower’s or any Restricted Subsidiary’s Capital Stock in their capacity as such (other than dividends or distributions (i) payable in Capital Stock (other than Disqualified Stock) of the
Borrower or (ii) payable to the Borrower and/or a Restricted Subsidiary of the Borrower or payable from a Foreign Subsidiary to another Foreign Subsidiary), (b) purchase, redeem or otherwise acquire or retire for value (including, without
limitation, in connection with any merger or consolidation involving the Borrower) any Capital Stock of the Borrower, (c) make any payment on or with respect to, or purchase, redeem, defease or otherwise acquire or retire for value any
Subordinated Indebtedness, except a payment of interest or principal at the Stated Maturity thereof or a payment of principal or interest on Indebtedness owed to the Borrower or any of its Restricted Subsidiaries, or (d) make any Restricted
Investment (all such payments and other actions set forth in these clauses (a) through (d) above being collectively referred to as “Restricted Payments”); provided that: 

(A) during any time in which no Event of Default exists, the Borrower may redeem, repurchase, retire, defease or otherwise
acquire any Subordinated Indebtedness 

  
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of the Borrower or any Restricted Subsidiary or any Capital Stock of the Borrower in exchange for, or out of the net cash proceeds of the substantially concurrent sale (other than to a Subsidiary
of the Borrower) of, Capital Stock of the Borrower (other than Disqualified Stock); 
 (B) during any time in
which no Event of Default exists, the Borrower may defease, redeem, repurchase or otherwise acquire Subordinated Indebtedness of the Borrower or any Restricted Subsidiary with the net cash proceeds from an incurrence of Permitted Refinancing
Indebtedness; 
 (C) during any time in which no Event of Default exists, any Restricted Subsidiary may
(1) make loans or advances to the Borrower or any of its Restricted Subsidiaries and (2) pay any dividend or the make any other distribution (x) to the Borrower or any Restricted Subsidiary or (y) to the holders of its Capital
Stock on a pro rata basis; 
 (D) during any time in which no Event of Default exists, the Borrower may
repurchase its Capital Stock if deemed to occur upon the exercise of stock options if such Capital Stock represents a portion of the exercise price thereof or represents shares tendered by an existing or former employee of the Borrower or any
Subsidiary (or the estate, heirs or assigns of such employee) to satisfy the employer’s minimum statutory tax-withholding obligation related to employee stock awards; 

(E) during any time in which no Event of Default exists, the Borrower may, for any Fiscal Year ending during the term of
this Agreement, declare and make Restricted Payments (excluding Restricted Payments otherwise permitted under this Section 10.5) in an aggregate amount equal to the greater of (i) ninety-five percent (95%) of Funds from
Operations for such Fiscal Year and (ii) with respect to any tax year of the Borrower, such amount as may be necessary for the Borrower to maintain the Borrower’s eligibility to be taxed as a REIT for such tax year; provided that,
notwithstanding the foregoing, the Borrower may also make Restricted Payments in an amount equal to the amount that would need to be distributed to all of the Borrower’s stockholders in order for the Borrower to make the minimum distributions
required to be distributed to its stockholders under the Code (a) to avoid the payment of taxes imposed under Sections 857(b)(1) and 4981 of the Code, and (b) to avoid the payment of taxes imposed under Section 857(b)(3) of the
Code; 
 (F) during any time in which an Event of Default exists (unless the Obligations have been accelerated or
an Event of Default pursuant to Section 11.1(a), (b), (i) or (j) has occurred and is continuing), the Borrower may, with respect to any tax year of the Borrower, make Restricted Payments in such amount as
may be necessary for the Borrower to maintain the Borrower’s eligibility to be taxed as a REIT for such tax year; provided that notwithstanding the foregoing, the Borrower may also make Restricted Payments in an amount equal to the
amount that would need to be distributed to all of the Borrower’s shareholders in order for the Borrower to make the minimum distributions required to be distributed to its shareholders under the Code (a) to avoid the payment of taxes
imposed under Sections 857(b)(1) and 4981 of the Code, and (b) to avoid the payment of taxes imposed under Section 857(b)(3) of the Code; 
 (G) during any time after the Obligations shall have been accelerated or after an Event of Default pursuant to
 Section 11.1(a), (b), (i) or (j) has occurred and is 

  
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continuing, the Borrower shall not, nor shall it permit any of its Subsidiaries to, make any Restricted Payments to any Person other than to the Borrower or any Subsidiary that is a Credit Party;
and 
 (H) so long as the Obligations have not been accelerated and no Event of Default has occurred and is
continuing pursuant to Section 11.1(a), (b), (i) or (j), the Borrower may declare and make the E&P Distribution.” 
 (k) Amendment to Section 10.10 (Restrictive Agreements). Section 10.10 of the Credit Agreement is hereby amended by deleting the last paragraph thereof in its entirety. 

(l) Amendment to Schedule 1.1(c) (Book Value of Designated Assets). Schedule 1.1(c) to the Credit Agreement is hereby
amended and restated in its entirety as set forth on Schedule 1.1(c) hereto. 
 3. Conditions to Effectiveness.
This Amendment shall be deemed to be effective upon the satisfaction of each of the following conditions: 
 (a) the
Administrative Agent shall have received counterparts of this Amendment executed by the Administrative Agent, the Lenders, the Borrower and each of the Subsidiary Guarantors; 
 (b) the Administrative Agent shall have received counterparts of Revolving Credit Notes in favor of each Lender that has agreed to increase its Revolving Credit Commitment (in each case, if requested
thereby), duly executed by the Borrower; 
 (c) the Administrative Agent shall have received from the Borrower an Officer’s
Compliance Certificate, in form and substance reasonably satisfactory to the Administrative Agent, demonstrating that the Borrower and its Restricted Subsidiaries are in pro forma compliance with the financial covenants set forth in
Article IX of the Credit Agreement based on the most recently provided financial statements under Section 7.1 of the Credit Agreement and after giving effect to this Amendment and any Extensions of Credit made or to be made in
connection herewith,; 
 (d) the Administrative Agent shall have received a certificate from a Responsible Officer of the
Borrower certifying that as of the First Amendment Effective Date (i) no Default or Event of Default shall have occurred and is continuing after giving effect to this Amendment, (ii) the representations and warranties made by the Borrower
and each other Credit Party contained in Article VI of the Credit Agreement and each other Loan Document that are subject to materiality or Material Adverse Effect qualifications are true and correct in all respects and the representations
and warranties of the Borrower and each other Credit Party contained in Article VI of the Credit Agreement and each other Loan Document that are not subject to materiality or Material Adverse Effect qualifications are true and correct in all
material respects, in each case after giving effect to this Amendment, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date and
(iii) attached thereto are true, correct and complete copies of resolutions duly adopted by the board of directors (or other governing body) of each Credit Party authorizing this Amendment; 

(e) the Administrative Agent shall have received opinions of counsel to the Credit Parties addressed to the Administrative Agent and the
Lenders with respect to the Credit Parties and this Amendment; 
 (f) the Borrower shall have paid to the Administrative Agent
and the Arrangers, for the account of each Lender that executes and delivers a signature page to this Amendment to the 

  
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Administrative Agent (or its counsel) on or prior to 5:00 p.m. (Eastern time) on March 20, 2013, an aggregate consent fee in an amount equal to 0.15% times the Revolving Credit
Commitment (determined prior to giving effect to the increase in the Revolving Credit Commitment being effectuated by this Amendment) of each such Lenders; 
 (g) the Administrative Agent and the Arrangers shall have been paid or reimbursed for all reasonable out-of-pocket charges and other expenses incurred in connection with this Amendment, including, without
limitation, the reasonable fees and disbursements of McGuireWoods LLP, that have been invoiced as of the First Amendment Effective Date; and 
 (h) the Borrower shall have paid all other fees payable to the Arrangers pursuant to that certain engagement letter dated as of March 7, 2013 by and among the Borrower and the Arrangers. 

4. Reallocation of Revolving Credit Commitments. 
 (a) Effective on the First Amendment Effective Date, each Lender agrees that it shall have a Revolving Credit Commitment as set forth in the Register and on Schedule A hereto. 

(b) Effective on the First Amendment Effective Date, the outstanding Revolving Credit Loans and Revolving Credit Commitment Percentages
of Swingline Loans and L/C Obligations will be reallocated by the Administrative Agent among the Revolving Credit Lenders in accordance with their revised Revolving Credit Commitment Percentages (and such Revolving Credit Lenders agree to make all
payments and adjustments necessary to effect such reallocation and the Borrower shall pay any and all costs required pursuant to Section 4.9 of the Credit Agreement in connection with such reallocation as if such reallocation were a
repayment). 
 5. Effect of the Amendment. Except as expressly provided herein, the Credit Agreement and the other Loan
Documents shall remain unmodified and in full force and effect. Except as expressly set forth herein, this Amendment shall not be deemed (i) to be a waiver of, or consent to, a modification or amendment of, any other term or condition of the
Credit Agreement or any other Loan Document, (ii) to prejudice any other right or rights that the Administrative Agent or the Lenders may now have or may have in the future under or in connection with the Credit Agreement or the other Loan
Documents or any of the instruments or agreements referred to therein, as the same may be amended, restated, supplemented or otherwise modified from time to time, (iii) to be a commitment or any other undertaking or expression of any
willingness to engage in any further discussion with the Borrower or any other Person with respect to any other waiver, amendment, modification or change to the Credit Agreement or the Loan Documents or any rights or remedies arising in favor of the
Lenders or the Administrative Agent, or any of them, under or with respect to any such documents or (iv) to be a waiver of, or consent to or a modification or amendment of, any other term or condition of any other agreement by and among the
Borrower, on the one hand, and the Administrative Agent or any other Lender, on the other hand. References in the Credit Agreement to “this Agreement” (and indirect references such as “hereunder”, “hereby”,
“herein”, and “hereof”) and in any Loan Document to the Credit Agreement shall be deemed to be references to the Credit Agreement as modified hereby. 
 6. Representations and Warranties/No Default. By their execution hereof, the Borrower and each Subsidiary Guarantor hereby certifies, represents and warrants to the Administrative Agent and the
Lenders that after giving effect to this Amendment: 
 (a) the representations and warranties of the Borrower and
each other Credit Party contained in Article VI of the Credit Agreement and the other Loan Documents that are subject to materiality or Material Adverse Effect qualifications are true and correct in all respects and the

  
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representations and warranties of the Borrower and each other Credit Party contained in Article VI of the Credit Agreement and each other Loan Document that are not subject to materiality
or Material Adverse Effect qualifications are true and correct in all material respects, in each case, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct
as of such earlier date; 
 (b) no Default or Event of Default has occurred or is continuing; 

(c) it has the right, power and authority and has taken all necessary corporate, limited liability company or other action
to authorize the execution, delivery and performance of this Amendment and each of the other documents executed in connection herewith to which it is a party in accordance with their respective terms and the transactions contemplated hereby; and

 (d) this Amendment and each other document executed in connection herewith has been duly executed and
delivered by the duly authorized officers of the Borrower and each of the Subsidiary Guarantors, and each such document constitutes the legal, valid and binding obligation of the Borrower and each of the Subsidiary Guarantors, enforceable in
accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar state or federal debtor relief laws from time to time in effect which affect the enforcement of creditors’ rights in general
and the availability of equitable remedies. 
 7. Reaffirmations. Each Credit Party (a) agrees that the transactions
contemplated by this Amendment shall not limit or diminish the obligations of such Person under, or release such Person from any obligations under, any of the Subsidiary Guaranty Agreement, the Collateral Agreement or any other Security Document to
which it is a party, (b) confirms and reaffirms its obligations under the Subsidiary Guaranty Agreement, the Collateral Agreement and each other Security Document to which it is a party and (c) agrees that the Subsidiary Guaranty
Agreement, the Collateral Agreement and each other Security Document to which it is a party remain in full force and effect and are hereby ratified and confirmed. 
 8. Governing Law. This Amendment and any claim, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Amendment and the
transactions contemplated hereby shall be governed by, and construed in accordance with, the laws of the State of New York without reference to the conflicts or choice of law principles thereof, other than such principles that are stated in
Section 5-1401 and 5-1402 of the General Obligations Law of the State of New York. 
 9. Counterparts. This
Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed
counterpart of a signature page to this Amendment or any document or instrument delivered in connection herewith by facsimile or in electronic (i.e. “pdf” or “tif”) form shall be effective as delivery of a manually
executed counterpart of this Amendment or such other document or instrument, as applicable. 
 [Signature Pages Follow]

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of
the date and year first above written. 
  

			
	BORROWER:
	
	CORRECTIONS CORPORATION OF AMERICA
		
	By:	 	 /s/ Todd J Mullenger

	Name:	 	Todd J Mullenger
	Title:	 	Chief Financial Officer and Executive Vice President

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 
					
	SUBSIDIARY GUARANTORS:
	
	CCA TRS, LLC
		
	By:	 	 /s/ Todd J Mullenger

		 	Todd J Mullenger,
		 	Executive Vice President and Chief Financial Officer
	
	CCA OF TENNESSEE, LLC
		
	By:	 	 /s/ Todd J Mullenger

		 	Todd J Mullenger,
		 	Executive Vice President and Chief Financial Officer
	
	CCA HEALTH SERVICES, LLC
	CCA INTERNATIONAL, LLC
	PRISON REALTY MANAGEMENT, LLC
	 TECHNICAL AND BUSINESS INSTITUTE OF AMERICA, LLC

	TRANSCOR AMERICA, LLC
		
	By:	 	CCA OF TENNESSEE, LLC, sole member
			
		 	By:	 	 /s/ Todd J Mullenger

		 		 	Todd J Mullenger,
		 		 	Executive Vice President and Chief Financial Officer

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 
			
	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	 /s/ Roberto Salazar

	Name:	 	Roberto Salazar
	Title:	 	Vice President

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 
			
	BANK OF AMERICA, N.A., as Swingline Lender, Issuing Lender and Lender
		
	By:	 	 /s/ Barbara P. Levy

	Name:	 	Barbara P. Levy
	Title:	 	Senior Vice President

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Issuing Lender and Lender
		
	By:	 	 /s/ Kay Reedy

	Name:	 	Kay Reedy
	Title:	 	Managing Director

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 
			
	JPMORGAN CHASE BANK, N.A., as Lender
		
	By:	 	 /s/ John Kushnerick

	Name:	 	John Kushnerick
	Title:	 	Vice President

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 
			
	SUNTRUST BANK, as Lender
		
	By:	 	 /s/ Thomas Parrott

	Name:	 	Thomas Parrott
	Title:	 	Director

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 
			
	U.S. BANK, N.A., as Lender
		
	By:	 	 /s/ Michael P. Dickman

	Name:	 	Michael P. Dickman
	Title:	 	Vice President

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 
			
	PNC BANK, NATIONAL ASSOCIATION,
	as Lender
		
	By:	 	 /s/ John Thurman

	Name:	 	John Thurman
	Title:	 	Senior Vice President

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 
			
	BRANCH BANKING AND TRUST COMPANY,
	as Lender
		
	By:	 	 /s/ R. Andrew Beam

	Name:	 	R. Andrew Beam
	Title:	 	Senior Vice President

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 
			
	HSBC BANK USA, NATIONAL ASSOCIATION,
	as Lender
		
	By:	 	 /s/ Randolph Cates

	Name:	 	Randolph Cates
	Title:	 	Senior Relationship Manager

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 
			
	CITIZENS BANK OF PENNSYLVANIA, as Lender
		
	By:	 	 /s/ Curtis C. Hunter III

	Name:	 	Curtis C. Hunter III
	Title:	 	Senior Vice President

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 
			
	FIFTH THIRD BANK, as Lender
		
	By:	 	 /s/ Lisa R. Cook

	Name:	 	Lisa R. Cook
	Title:	 	Vice President

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 
			
	 FIRST TENNESSEE BANK, NATIONAL
 ASSOCIATION, as Lender

		
	By:	 	 /s/ Ron Stinson

	Name:	 	Ron Stinson
	Title:	 	Vice President

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 
			
	COMMUNITY & SOUTHERN BANK, as Lender
		
	By:	 	 /s/ Thomas A. Bethel

	Name:	 	Thomas A. Bethel
	Title:	 	Director of Corporate Banking

  
 First
Amendment to Amended and Restated Credit Agreement 
 Corrections Corporation of America 

Signature Page 

 Schedule A 

 

					
	 Lender
	  	Revolving Credit Commitment	 
	 Wells Fargo Bank, National Association
	  	$	118,750,000.00	  
	 JPMorgan Chase Bank, N.A.
	  	$	118,750,000.00	  
	 Bank of America, N.A.
	  	$	118,750,000.00	  
	 SunTrust Bank
	  	$	118,750,000.00	  
	 PNC Bank, National Association
	  	$	90,000,000.00	  
	 US Bank, N.A.
	  	$	80,000,000.00	  
	 HSBC Bank USA, National Association
	  	$	62,750,000.00	  
	 Citizens Bank of Pennsylvania
	  	$	57,250,000.00	  
	 Branch Banking and Trust Company
	  	$	55,000,000.00	  
	 Fifth Third Bank
	  	$	40,000,000.00	  
	 First Tennessee Bank, National Association
	  	$	25,000,000.00	  
	 Community & Southern Bank
	  	$	15,000,000.00	  
		  	  
	  
	 
	 Total
	  	$	900,000,000.00	  
		  	  
	  
	 

 Schedule 1.1(c) 
 BOOK VALUE OF DESIGNATED ASSETS 
  

													
	 City
	  	State	  	 Facility Name
	  	Fac. #	 	  	Net Book Value	 
					
	 1.   San Diego
	  	California	  	 San Diego Correctional Facility
	  	 	2605	  	  	$	25,072,107	  
	 2.   Lecanto
	  	Florida	  	 Citrus County Detention Facility
	  	 	406	  	  	$	15,233,670	  
	 3.   Nichols
	  	Georgia	  	 Coffee Correctional Center
	  	 	2501	  	  	$	59,494,787	  
	 4.   Alamo
	  	Georgia	  	 Wheeler Correctional Center
	  	 	2502	  	  	$	58,813,042	  
	 5.   Tutwiler
	  	Mississippi	  	 Tallahatchie County Correctional Center
	  	 	1403	  	  	$	109,052,745	  
	 6.   Shelby
	  	Montana	  	 Crossroads Correctional Center
	  	 	2801	  	  	$	17,432,566	  
	 7.   Cushing
	  	Oklahoma	  	 Cimarron Correctional Facility
	  	 	1003	  	  	$	89,491,944	  
	 8.   Holdenville
	  	Oklahoma	  	 Davis Correctional Facility
	  	 	1001	  	  	$	84,114,471	  
	 9.   Whiteville
	  	Tennessee	  	 Whiteville Correctional Center
	  	 	118	  	  	$	39,122,502	  
	 10. Washington
	  	D.C.	  	 D.C Correctional Treatment Center
	  	 	2001	  	  	$	3,670,505	  
	 11. Millen
	  	Georgia	  	 Jenkins Correctional Center
	  	 	2504	  	  	$	49,430,625	  
	 12. Conneaut
	  	Ohio	  	 Lake Erie Correctional Institution
	  	 	1903	  	  	$	73,193,944	  
	 13. Eloy
	  	Arizona	  	 Red Rock Correctional Center
	  	 	904	  	  	$	70,569,347Unassociated Document

Exhibit 10.43

 

Document No.: CMBC-HT183 (Corporate 2009)

 

Contract on Loan for Fixed Assets

 

No.: Corporate Loan No. 99152012298840

China Minsheng Banking Corporation Limited

 

  

1

  

 

Contract on Loan for Fixed Assets

BORROWER:       Yida (Fujian) Tourism Group Limited. (hereinafter referred to as “Party A”)

Address:                 No. 68, Yongtai County

Postcode:

Legal Representative/President:   Chen Minhua

Phone:

Fax:

Bank: Fuzhou Branch, Minsheng Banking Corp.

Account No.:         1502014180001126

LENDER: Fuzhou Branch, China Minsheng Banking Corporation Limited (hereinafter referred to as “Party B”)

Address:                No. 280, Hudong Road

Postcode:               350003

Legal Representative/President:   Su Suhua

Phone:

Fax:

In accordance with the relevant laws, statutes and regulations of the People’s Republic of China, the Borrower and the Lender, through full consultations and negotiations, have executed this Contract as follows:

Chapter I     Type of Loan

Article 1        Party B agrees to make the following type of loan to Party A to finance its fixed assets: Medium-term Loan

Chapter II     Purpose of the Loan

Article 2       The loan under this Contract shall be devoted to investment in fixed assets (hereinafter referred to as “the Project”). Specifically, the loan shall be devoted to the development of the Scenic Area. See Appendix I for the details of the Project. Without the written consent of Party B, Party A shall not devote the loan to any other purposes.

Chapter III     Amount and Term of the Loan

Article 3        The amount of the loan under this Contract shall be (in words): RMB Seventy Million.

Article 4        The term of the loan under this Contract shall be 33 months, from February 20, 2012 (the agreed-upon date of first drawdown) to November 20, 2014 (the agreed-upon date of loan maturity).

Chapter IV     Computation of Interest

Article 5

	
5.1

	
The loan under this Contract shall have an interest rate of 11.97% per annum (80% above the benchmark interest rate announced by the People’s Bank of China and applicable to three-year loans on the date of the execution of this Contract.

	
5.2

	
The dates when the loan under this Contract is disbursed to the dedicated loan account maintained by Party A with Party B (see Appendix V for the details of the account) shall be the drawdown date for the loan under this Contract. Interest shall accrue on the loan under this Contract from the drawdown date. Party A shall pay, on each interest settlement date, the interest accrued from the drawdown date (inclusive) or from the day immediately after the previous interest settlement date to the present interest settlement date (inclusive), as well as the principal amount of the loan which becomes due on the interest settlement date (if any).

 

  

2

  

 

	
5.3

	
Interest on the loan under this contract shall be computed by day and paid on a quarterly basis on the 20th day of the last month of each quarter. The last interest settlement date shall be the loan maturity date.

	
5.4

	
In the event of Party A committing a default in the repayment of the principal of the loan due and payable to Party B, Party A shall pay a penalty interest at a rate 50% above the interest rate for the loan under this Contract (referred to as “the default interest rate”) from the date of default (inclusive). If Party A fails to pay the interest and default interest due on time, compound interest shall be computed by month on the interest settlement date for the actual length of default and shall accumulate month after month. (Note: the compound interest shall be raised by 30% to 50%).

	
5.5

	
In the event of Party A utilizing the loan for a purpose other than what is specified in this Contract, Party A shall pay penalty interest on the misused amount of the loan at an interest rate 100% above the interest rate for the loan, and such penalty interest shall accrue from the first date of misuse. In this case, Party B may hold Party A responsible for breaching this Contract and declare that the entire loan or any undue portion of the loan is immediately due and payable by Party A. (Note: the penalty interest rate interest shall be raised by 50% to 100%).

	
5.6

	
In the event of the People’s Bank of China adjusting the above benchmark interest rate after the execution of this Contract, the interest rate for the loan under this Contract will be automatically raised by the percentage specified in Article 5.1 herein on the basis of the new benchmark interest rate. The adjusted interest rate for the loan shall become applicable to any portion of the loan which has been disbursed, on the day immediately after the first interest settlement date. And, from the day when the new interest rate becomes applicable, interest shall accrue on the loan under this Contract according to the adjusted interest rate.

 

Where the interest rate for the loan under this Contract is changed, the default interest rate and the penalty interest rate under this Contract shall be changed accordingly, and after the change, the default interest rate and the penalty interest rate shall become applicable when the new interest rate for the loan becomes applicable and be computed by period.

 

Where the interest rate is adjusted according to the provisions of Article 5.6 herein, the parties do not need to sign an agreement, and neither party needs to inform the other party or its guarantor, or to obtain the consent of the other party or its guarantor.

 

Chapter V     Disbursements and Payments of the Loan

Article 6       After this Contract becomes effective, Party A may draw down the loan under this Contract by sending an application for drawdown to Party B for approval. For each drawdown, Party A shall submit the application to Party B at least three business days in advance. If the application is approved, Party B will disburse the loan to the dedicated loan account of Party A, and interest on the loan shall accrue from the drawdown date.

Article 7       The obligation of the Party B to make the disbursement under the loan shall be subject to the satisfaction by the Party A of all of the following conditions precedent. However, disbursement made Party B before Party A has satisfied all of the following conditions shall not be considered a negligence of the Party B in its performance of this Contract:

	
7.1

	
Party A has furnished all documents required by Party B, including but not limited to:

	
7.1.1

	
Party A’s business license, organizational code certificate and tax registration certificate which have been verified as conforming in the annual inspection by the authorities, Party A’s current Articles of Association, the identity document of Party A’s legal representative and its photocopy;

	
7.1.2

	
A list of Party A’s directors and senior managers with relations to the matters under this Contract and their respective signature specimen;

 

  

3

  

 

	
7.1.3

	
The resolution of the Board of Directors and/or the resolution of the General Shareholders’ Meeting relating to the loan under this Contract or authorizing related personnel to execute this Contract and associated documents;

	
7.1.4

	
A drawdown application signed by Party A;

	
7.1.5

	
Documentary proof of the progress of the initial work for the project, including but not limited to project progress timetables and descriptions;

	
7.1.6

	
Documentary proof showing that the matching project capital for the loan under this Contract is in place;

	
7.1.7

	
Contracts on the purchase of fixed assets for the project (or on construction).

	
7.2

	
Party A has obtained all administrative permissions, approvals and registrations and completed all statutory formalities required for the loan under this Contract in accordance with applicable laws, statutes and regulations.

	
7.3

	
The progress of project construction is adequate to meet the requirements of the fund use plan. By the first drawdown, project capital of the same percentage as the loan under this Contract shall have been in place in full amount, and shall be used in collaboration with the proceeds of the loan under this Contract.

	
7.4

	
Related guarantee documents for the loan under this Contract have become effective, and mortgage and/or pledge are in place.

	
7.5

	
No default has occurred or is ongoing, or any default which has occurred has been resolved to the satisfaction of Party B or has been excused by Party B.

	
7.6

	
Representations and warranties made by Party A in Article 11 herein are true, accurate and valid.

	
7.7

	
By the time of a drawdown, no material change has occurred in Party A’s financial condition.

	
7.8

	
Party A maintains commercial insurance for the fixed assets under this Contract as required by Party B. Such insurance shall meet the following requirements:

	
7.8.1

	
The insured amount of the commercial insurance shall not be lower than the amount of investments already made.

	
7.8.2

	
When Party A is purchasing commercial insurance, Party B shall be made as the primary beneficiary for compensation. If commercial insurance has already been purchased, Party A and the insurer shall issue a written document to the satisfaction of Party B, ensuring that Party B will be able to effectively control the compensation benefits of the insurance.

	
7.8.3

	
If Party A maintains commercial insurance for all of its assets, it shall issue a written document stating that any compensation from insurance will first be applied towards the repayment of the loan disbursed by Party B.

Article 8        Payments of the Loan

	
8.1

	
The proceeds of the loan made by Party B to Party A under this Contract shall be paid in the following ways:

	
8.1.1

	
Entrusted Payment: Party A submits a Payment Request and related documents to Party B in accordance with the requirements set out in Appendix IV herein; if the request is approved, Party B will pay the relevant sums to a transaction party of Party A for the purpose described in this Contract, in accordance with Party A’s payment request and payment entrustment.

 

If the amount of a single payment requested by Party A is more than 5% of the total investment of the fixed-asset investment project or is in excess of RMB 5 million yuan, Party A shall use Entrusted Payment.

 

  

4

  

 

	
8.1.2

	
Autonomous Payment: Party A submits a Payment Request and related documents to Party B in accordance with the requirements set out in Appendix IV herein; if the request is approved, Party B will pay the relevant sums to an account which Party A maintains with Party B and which is specified in Party A’s payment request, and Party A can pay the sums to its transaction party for the purpose described in this Contract.

 

Where Autonomous Payment is used, Party A shall submit regular reports to Party B in respect of the use of the proceeds of the loan. If both parties have agreed upon other forms of supervision, Party A shall submit itself to such supervision by Party B.

 

	
8.2 

	
Any request to pay from the dedicated loan account shall be sent by Party A to PartyB three business days in advance. If the request is approved, Party B shall make the payment. If Party B considers Party A’s payment request unsatisfactory, it may demand Party A to make adjustment or may reject the request; in the latter case, Party A shall be solely responsible for any liability and consequence arising from deferred payment, and Party B shall have no liability whatsoever.

Chapter VI     Repayment of the Loan

Article 9

	
9.1

	
Party A shall repay the principal amount of the loan in installments on the dates specified in Appendix II.

	
9.2

	
Party A is:

x        required to open a repayment reserve account (for details, see Appendix V).

þ         not required to open a repayment reserve account

If Party A opens a repayment reserve account according to this provision, it shall deposit the following sums as repayment reserves into the repayment reserve account within three days of receipt:

x         __/__ percent of the revenues of the fixed-asset investment project;

x         __/__ percent of the cash flow of Party A’s operating revenues.

If Party A opens a repayment reserve account according to this provision, all sums in the repayment reserve account at the time of opening and all subsequent sums shall be used as security for the repayment of all debts owed by Party B. The security covers the principal amount of the loan under this Contract and interest thereon, penalty interest, compound interest, fine for default, compensation for damage, expenses incurred in realizing creditor’s rights and security rights (including but not limited to litigation costs, lawyer’s fees, and traveling expenses), and other reasonable expenses. Without the written consent of Party B, Party A shall not use any sums in the repayment reserve account.

Unless otherwise agreed upon by both parties, if Party A opens a repayment reserve account according to this provision, it will not need to open another repayment account, and the repayment reserve account will be the repayment account.

	
9.3

	
If the actual first drawdown date differs from the mutually-agreed first drawdown date, the date of the maturity of the loan under this Contract shall be determined in the following way:

 

  

5

  

 

	
9.3.1

	
If Party A repays the principal amount of the loan in one lump sum upon maturity, the loan maturity date shall be automatically changed according to the term of the loan specified in Article 4 herein and the actual first drawdown date.

	
9.3.2

	
If Party A repays the principal amount of the loan in installments, the loan maturity date shall be automatically changed according to the term of the loan specified in Article 4 herein and the actual first drawdown date, and other dates of installment payment shall not be changed according to the actual first drawdown date; the loan shall be repaid in installments in the amounts on the dates specified in Appendix II.

	
9.4

	
If the principal repayment date coincides with a statutory holiday, the repayment may be extended to the first business day after the holiday, and the related interest shall accrue until the extended principal repayment date. If an interest settlement date coincides with a statutory holiday, the related interest shall accrue until the actual interest settlement date, but the interest payment date may be extended to the first business day after the interest settlement date.

	
9.5

	
Party A shall ensure that its repayment account (see Appendix V for details) has sufficient funds on the principal repayment date or the interest settlement date, so that Party B can make deductions. If the funds in Party A’s repayment account are insufficient for Party B to make adequate deductions, Party A shall pay default interest according to the default interest rate, as well as compound interest.

	
9.6

	
If the funds in Party A’s repayment account are insufficient to repay the principal amount of the loan plus interest thereon, Party B shall have the right to directly make deductions from any account that Party A maintains at any outlet of the China Minsheng Banking Corp., Ltd. to pay off the principal amount of the loan, interest, penalty interest, compound interest, fine for breach of contract and other expenses owed by Party A to Party B. In this case, Party B shall not be liable for any loss of interest or for any other losses that Party A suffers.

	
9.7

	
Party A may repay debts under this Contract before maturity, provided that Party A has not committed any default in repayment of debts, and shall submit a written application to Party B ten business days in advance. For Party A’s applications to repay debts before maturity:

þ         Party B agrees that Party A may repay its debts before maturity without paying a fine for breach of contract.

x        Party B agrees that Party A may repay its debts before maturity, but Party A shall pay interest on the debts and a fine for breaching the contract by repaying its debts before maturity according to the following rate:

Fine for Repaying Debts before Maturity = Amount of debts repaid before maturity × (the term of the debts specified in the Contract - the actual length of debts) × daily fine for breach of contract ___/___.

 

x        Party B disagrees that Party A may repay its debts before maturity.

	
9.8

	
If Party A thinks that it needs a grace period for repayment of debts, Party A shall submit an application for a grace period to Party B at least 30 days before the maturity date specified in the Contract. If the application is approved by Party B, both parties shall sign an Agreement on the Grace Period for Debt Repayment. If the application is not approved, Party A shall repay the debts in full according to the provisions of the Contract.

 

  

6

  

 

Chapter VII     Guarantees

Article 10     To ensure the repayment of the loan under this Contract, both parties agree that one or more of the following guarantees will be adopted:

	
þ

	
Security, for details, refer to the Guarantee Contract, numbered Go Dan Bao Zi No. 99152012298827.

	
þ

	
Mortgage, for details, refer to the Mortgage Contract, numbered Go Dan Di Zi No. 99152012298838.

	
x

	
Pledge, for details, refer to the __________, numbered Go Dan Zhi Zi No. ___________.

	
þ

	
Others, for details, refer to the Guarantee Contract, numbered Go Dan Di Zi No. 99152012298832.

If both parties have signed an Integrated Credit Contract, one or more of the following guarantees will be adopted:

	
x

	
Security, the Maximum Amount Security Contract, numbered Gao Bao Zi __________.

	
x

	
Mortgage, the Maximum Amount Mortgage Contract, numbered Gao Di Zi __________.

	
x

	
Pledge, the Maximum Amount Pledge Contract, numbered Gao Zhi Zi __________.

	
þ

	
Others: ______________________________________________________________.

Chapter VIII     Representations and Warranties of Party A

Article 11     Representations and Warranties of Party A

	
11.1

	
Party A is a corporation duly organized and existing under the laws and has the power and authority to execute and perform this Contract and has obtained all permissions, approvals, registrations and filings necessary for the execution of this Contract.

	
11.2

	
All internal authorization formalities necessary for Party A to execute this Contract have been completed and are fully valid. Party A’s execution of this Contract and performance of its obligations hereunder will not conflict with or result in the breach of its current Articles of Association, internal rules and regulations or any other contracts, agreements or documents that are binding upon Party A.

	
11.3

	
As of the date of this Contract, there is no litigation, proceeding or dispute or action, pending or threatened, against Party A, the adverse determination of which might have a materially adverse effect on the ability of Party A to perform this Contract.

	
11.4

	
The project under this Contract and the loan under this Contract conform to all laws and statutes applicable to China, the loan and the project, as well as the requirements of Party B.

	
11.5

	
Party A does not have any substantial indebtedness or contingent liability that has not been disclosed to Party B.

	
11.6

	
Party A warrants that all information it has provided to Party B are true, complete and valid, and that it has not omitted or withheld information on any significant facts.

	
11.7

	
Party A warrants that it will use the proceeds of the loan under this Contract for the purpose specified in this Contract and the law and in accordance with the project schedule and plans that Party A has furnished to Party B, and that any use of the proceeds of the loan will be consistent with what is stated in the relevant Disbursement Application.

 

  

7

  

 

	
11.8

	
Party A will accept Party B’s investigation, monitoring and supervision of its use of the proceeds of the loan under this Contract, and will furnish related documents at any time when requested by Party B.

	
11.9

	
Party A will actively assist Party B in investigating, monitoring and supervising its production, construction, operations and financial condition, and will furnish copies of its balance sheet, income statement, cash flow statement, and other financial statements.

	
11.10

	
Party A shall immediately notify Party B in writing of any event that might endanger Party A’s normal operations or materially threaten Party A’s ability to repay the loan under this Contract (including but not limited to the events specified in Article 11.3).

	
11.11

	
Party A shall give a prior notice to Party B and obtains the consent of Party B if Party A is to effect any amalgamation, splitting, merger, joint-stock restructuring, contracting, leasing, joint operation, investment, additional debt financing, business suspension for rectification purposes, dissolution, settlement, restructuring, or bankruptcy, to transfer or otherwise dispose of any of its substantial assets, or to engage in any other act which might lead to a change in the creditor-debtor relationship under this Contract or affect the rights and interests of Party B. Otherwise, Party A shall not engage in any of the above acts.

	
11.12

	
During the term of this Contract, Party A shall give a notice to Party B in writing within seven days of any change of its address, name, legal representative or any other executive.

	
11.13

	
Where there is a guarantee, when the guarantor fails to fulfill any of its obligations or commitments specified in the guarantee contract or loses its guarantee ability, or when the collateral is destroyed or suffers a material loss of value, Party A shall immediately provide a new guarantee according to the requirements of Party B and to the satisfaction of Party B or pay off its debts under this Contract in advance.

	
11.14

	
Without the prior written consent of Party B, Party A shall not assign its debts under this Contract to any third party.

	
11.15

	
Party A warrants that it has a good credit standing and operating condition, and there is no material change in its other borrowing acts, and that it does not have any undesirable record.

	
11.16

	
Party A warrants that it will strictly perform this Contract under mutual supervision.

	
11.17

	
If the actual investment of the project exceeds the original total amount of investment and if Party B approves the application of Party B for additional loans, Party A shall ensure that the project initiator will increase its investment by a percentage not lower than the percentage of the project capital. Additionally, Party A shall provide additional guarantee for the additional loans in accordance with the requirements of Party B.

Chapter IX     Rights and Obligations of Party B

Article 12     Rights and Obligations of Party B

	
12.1

	
Party B warrants that its execution of this Contract has been effectively authorized.

	
12.2

	
Party B shall make disbursements of the loan under this Contract to Party A, provided that Party A has fully and properly fulfilled its obligations set forth in this Contract and any other agreements reached on the loan under this Contract, and has satisfied the conditions for loan disbursement.

	
12.3

	
Party B shall treat in confidence any information on Party A’s debts, financial condition, production and operations which it has obtained as a result of the execution and performance of this Contract. Without the consent of Party A, Party B shall not disclose such information to any third party, except in the following circumstances:

 

	
12.3.1

	
Disclosure is required by law, the competent authorities, or the stock exchange where Party B is listed.

 

  

8

  

	
12.3.2

	
Disclosure made by Party B to a third party according to laws, statutes or regulations when Party B is assigning its creditor’s rights under this Contract to a third party, or when both parties agree that a third party will be engaged to provide trust management of the creditor’s rights under this Contract, or when Party B otherwise make arrangements for the securitization of its assets.

	
12.4

	
During the term of this Contract, Party B shall promptly notify Party A of any change of address.

	
12.5

	
Party B does not need the consent of Party A to assign its creditor’s rights under this Contract to a third party, and has no obligation to notify Party A of such assignment.

	
12.6

	
The sums paid by Party A (including sums obtained by Party B according to this Contract) shall be applied to pay off the creditor’s rights in the following sequence: (1) expenses incurred in realizing creditor’s rights and guarantee rights; (2) compensation for damage; (3) fine for breach of contract; (4) compound interest; (5) penalty interest; (6) interest; and (7) the principal amount of the loan. Party B reserves the right to change the above sequence.

	
12.7

	
Party B has the right to supervise and audit the use of the proceeds of the loan under this Contract, monitor Party A’s operating activities, provision of guarantee, and disputes over debts. Party B also have the right to regularly assess examine and reevaluate the collateral provided by Party A and the guarantor’s guarantee capacity. If the value of the collateral of the guarantor’s guarantee capacity declines, Party B has the right to demand Party A to provide additional guarantee.

	
12.8

	
Party B shall not sell blank important vouchers relating to the dedicated loan account and repayment reserve account to Party A, nor shall Party B open online corporate banking service for Party A. The banking procedure where deposits and withdrawals are processed at any of the China Minsheng Banking Corp. Ltd. does not apply to Party A.

Chapter X     Liability for Breach of Contract

Article 13     In any of the following circumstances, Party A is deemed as having breached the Contract:

	
13.1

	
If the guarantee formalities specified in this Contract have not been completed for Party A’s fault or the guarantor, or Party A fails to draw down the loan with Party B on the date specified in this Contact and the delay has exceeded by the specified drawdown date for 30 or more days (including statutory holidays and rest days), Party B shall have the right to charge a fine on Party A based on the default interest rate according to the amount involved in the delay and the actual length of the delay.

	
13.2

	
Party A fails to pay any sums due within the time frame prescribed in this Contract.

	
13.3

	
Party A furnishes Party B any balance sheet or income statement which is false or from which information on important facts is withheld, or Party A refuses to accept Party B’s monitoring of its use of the proceeds of the loan or its production, operation or financial activities, or Party A makes misrepresentations regarding any matter specified in Chapter VIII.

	
13.4

	
Party A explicitly states or demonstrates through its behaviors that it will not fulfill any obligation under this Contract or any other commitments, or that the guarantor will fail to fulfill any obligation set forth in this Contract.

	
13.5

	
Party A fails to honor any commitment or warranty made in Chapter VIII herein, or breaches any other agreement with Party B, or Party A signs any contract or agreement with any third party or unilaterally makes any commitment or warranty which might result in a default in the repayment of other debts, or the maturity of other debts owed by Party A have been accelerated or might be declared to be accelerated by other creditors.

 

  

9

  

 

	
13.6

	
Party A fails to use the proceeds of the loan for the purpose specified in this Contract or fails to draw down and pay the proceeds of the loan according to the provisions of Chapter V herein.

	
13.7

	
The guarantee under this Contract has undergone a change unfavorable to the creditor’s rights of Party B, including but not limited to the ineffectiveness, invalidation or revocation of the guarantee contract or other forms of guarantee; or the guarantor has lost its guarantee capacity in full or in part or has explicitly stated that it will not perform the guarantee obligation; or the guarantor fails to fulfill any of its obligations or commitments in the guarantee contract or in its warranties; or the property used as a collateral or pledge has been damaged, destroyed or suffered a loss of value and Party A fails to provide a replacement guarantee according to Party B’s requirements.

	
13.8

	
Party A’s financial condition has undergone a material change, rending its financial indicators inadequate to meet Party B’s requirements.

	
13.9

	
The progress of the project construction or completion has fallen behind the progress of the utilization of the proceeds of the loan under this Contract.

	
13.10

	
Party A uses the methods “breaking up the whole into parts” in an attempt to circumvent the requirement of “entrusted payment”.

	
13.11

	
Party A’s dedicated loan account, designated account for “autonomous payment”, repayment reserve account or repayment account under this Contract has been frozen by the competent authorities, or Party A is involved in litigation, arbitration, administrative penalty or other judicial administrative proceedings which might have an adverse effect on Party A’s performance of this Contract.

	
13.12

	
Any other substantial adverse changes have occurred, but Party A fails to make remedy within the time frame prescribed by Party B.

Article 14     In the event of any of the above breaches, in addition to exercising its rights according to the provisions of this Contract, Party B shall have the right to declare that the loan under this Contract, in full or in part, immediately due and payable, recover the sums that have already been disbursed, and discontinue the disbursement of the loan.

Article 15     If a breach of contract by Party A has compelled Party B to realize its creditor’s rights through litigation, Party A shall bear the expenses incurred by Party B in realizing its creditor’s rights and guaranteed rights, such as expenses may include litigation costs, lawyer’s fees, and travelling expenses.

Chapter XI     Effectiveness of the Contract

Article 16     This Contract shall become effective when signed or chopped by the legal representatives or presidents of each party. The appendices of this Contract shall constitute an integral part of this Contract and has the same binding force as the proper text of this Contract.

Chapter XII     Modification and Cancellation of the Contract

Article 17     After this Contract becomes effective, neither party may modify or cancel this Contract. Where it is absolutely necessary to modify or cancel this Contract, both parties shall negotiate with each other and work out a written agreement.

Chapter XIII     Dispute Resolution

Article 18     Any dispute arising out of or in connection with this Contract shall be subject to the ruling of the people’s court in the city where Party B is domiciled.

 

  

10

  

Chapter XIV     Miscellaneous

Article 19     This Contract is part of the No. ___________ Integrated Credit Contract.

Article 20     Notice and Delivery

	
20.1

	
Any notice or other written communication provided for or relating to this Contract shall be delivered by registered post, facsimile, courier service or other methods to the addresses of both parties written on the first page of this Contract.

	
20.2

	
If delivered by registered post, the notice shall be deemed to have been received by the addressee on the fourth day after such notice was posted. If delivered by facsimile, the notice shall be deemed to have been received by the addressee on the date indicated on the confirmation page of successful transmission. If delivered by courier service, the notice shall be deemed to have been received by the addressee on the day when the notice was delivered by the courier to the address of the addressee. In the event of any change of address, the other party shall be notified within seven days of the change, and the new address shall be used for all subsequent correspondence.

Article 21     Where options are provided in a clause, put a tick in the box of the applicable one and put a cross in the box of the non-applicable one.

Article 22     Other Matters Mutually Agreed upon

______________________/______________________________

______________________/______________________________

______________________/______________________________

Article 23     This Contract shall be executed in two counterparts, with one to be retained by each party. Both counterparts shall constitute one and the same contract, binding upon both parties.

Article 24     Before the execution of this Contract, Party B has explained all clauses herein in detail to Party A. Neither party has any dispute over any clause herein. Both parties have an accurate understanding of the legal meaning of the clauses on their respective rights, obligations, liability limitations or exemptions.

(End of this page; appendices and signature page to follow)

 

  

11

  

 

Signature Page

This Contract is executed by the two parties in Gulou, Fuzhou.

Party A: Yida (Fujian) Tourism Group Limited

Legal Representative/President (or Authorized Agent)

Chen Minhua

(Signature or seal)

February 20, 2012

 

Party B: Fuzhou Branch of China Minsheng Banking Corporation Limited

Legal Representative/President (or Authorized Agent)

Su Suhua

(Signature or seal)

February 20, 2012

 

  

12

  

 

Appendix I

Detail of the Project

	
No.

	
Check the box below

that applies to the project

	
Project

	
Detail

	
1

	
þ

	
Name

	
Yunding Park

	
2

	
þ

	
Location

	
Yongtai County, Fujian Province

	
3

	
þ

	
Paid-in Capital

	
20 million USD

	
4

	 o	
Insurance

	
N/A

	
5

	
þ

	
Completion

	
50%

	
6

	 o	
Others

	
N/A

 

Remarks:

	
1.

	
The form can only be used as a appendix of Contract on Loan for Fixed Assets, all the information provided on the form must be true and correct.

	
2.

	
If any changes on the form, Party A has responsibility to inform Party B for revisions.

 

  

A-i

  

 

Appendix II

 

Payment schedule and amount

	
No.

	
Due date

	
Amount (million RMB)

	
1

	
3-20-2012

	
$0

	
2

	
6-20-2012

	
$1

	
3

	
9-20-2012

	
$2

	
4

	
12-20-2012

	
$3

	
5

	
3-20-2013

	
$4

	
6

	
6-20-2013

	
$5

	
7

	
9-20-2013

	
$6

	
8

	
12-20-2013

	
$7

	
9

	
3-20-2014

	
$8

	
10

	
6-20-2014

	
$9

	
11

	
9-20-2014

	
$10

	
12

	
11-20-2014

	
$15

 

  

A-ii

  

 

Appendix III

Loan Drawdown Schedule and amount for Party A

	  	
Drawdown Date

	
Amount

	
1

	  	  
	
2

	  	  
	
3

	  	  
	
4

	  	  
	
5

	  	  
	
6

	  	  
	
7

	  	  
	
8

	  	  
	
9

	  	  
	
10

	  	  
	
11

	  	  
	
12

	  	  
	
13

	  	  

 

  

A-iii

  

 

Appendix IV

 

Payment Request

 

APPLICANT (Party A): Yida (Fujian) Tourism Group Co., Ltd.

LENDER         (Party B): Fuzhou Branch, China Minsheng Banking Corporation Limited

In accordance with No.: 99152012298840 Contract on Loan for Fixed Assets (hereinafter referred to as Loan Contract), Party B is responsible for the supervision and approval of Loan Payments under this Contract. According to the requirements of Loan Contract, Party A’s Payment Request is (Currency) RMB (Amount in words) Seventy million applied to the development of the Scenic Area (the purpose in accordance with the attached documents).

 

Party A’s Payment Request shall be paid in the Autonomous Payment as follows:

	
1.

	
Entrusted Payment

 

	
1.1

	
Party A submits a transaction contract with the transaction party and related documents to Party B in accordance with Party B’s requirements; Party A ensures its submitted contract and documents to be valid and that the payment request sum and entrustment shall be in accordance with the regulations under this transaction contract.

 

	
1.2

	
Party A, unconditionally and irrevocably, entrusts Party B with the relevant sums paid in the following payment list:

 

	
No.

	
Account Name

	
Bank

	
Account No.

	
Amount

	
Purpose

	
Others

	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  

	
2.

	
Autonomous Payment

 

	
2.1

	
The plan of Party A’s Autonomous Payment is developing the Phase II construction of the scenic area, including restaurant, hotel development and construction.

 

	
  

	
Party A guarantees Payment Request will be used in accordance with the above plan, which will not be changed at will; Party A will get a Party B’ written consent before changing the payment purpose, otherwise, Party A shall be responsible for any liability for breach under this Loan Contract.

 

	
2.2

	
Party A, unconditionally and irrevocably, entrusts Party B to pay the relevant sums to the following account which Party A maintains with Party B:

 

Account name: Yida (Fujian) Tourism Group Limited.

 

Bank name:  Fuzhou Branch, China Minsheng Banking Corporation Limited

 

Account Number: 1502010910001586

 

Party A guarantees all the relevant documents shall have been submitted to Party B in accordance with Party B’ requirements and the submitted documents will be valid, otherwise, Party A shall be responsible for any liability for breach under this Loan Contract.

 

Applicant (Reserved chopped):

Yida (Fujian) Tourism Group Limited

 

  

A-iv

  

Appendix V

Party A’s Account Information

The account information Party A obtained for the loan contract as follows:

	
1.

	
Party A’s bank account for loan purpose only:

Account name: Yida (Fujian) Tourism Group Limited.

Bank name: Fuzhou Branch, China Minsheng Banking Corporation Limited

Account Number: 1502010910001586

	
2.

	
Party A’s bank account for payment reserves only:

Account name: _N/A______________________________

Bank name: _N/A______________________________

Account Number: _N/A______________________________

	
3.

	
Party A’s bank account for payments only:

Account name: Yida (Fujian) Tourism Group Limited.

Bank name: Fuzhou Branch, China Minsheng Banking Corporation Limited

Account Number:1502014180001126

 

 

A-v

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