On May 12, 2022, CoreCivic, Inc. entered into a Third Amended and Restated Credit Agreement dated as of May 12, 2022, by and among the Company, as Borrower, certain lenders party thereto from time to time, and Alter Domus Products Corp., as Administrative Agent for the lenders The credit facilities provided pursuant to the New Credit Agreement effectively replace the Company's existing senior secured credit facilities. The New Credit Facilities are in the aggregate principal amount of $350 million, consisting of a $100 million term loan and a $250 million revolving credit facility that has a $25 million sublimit for swingline loans and a $100 million sublimit for the issuance of standby letters of credit. In addition, the Company has an option to increase the availability under the revolving credit facility and to request term loans from the lenders in an aggregate amount not to exceed the greater of (a) $200 million and (b) 50% of consolidated EBITDA for the most recently ended four-quarter period, subject to, among other things, the receipt of commitments for the increased amount.

The New Credit Facilities mature on May 12, 2026. The Company's borrowings under the New Credit Facilities, other than the swingline loans, bear interest at rates that, at the Company's option, can be either: a base rate defined as of (a) the U.S. “prime rate” last quoted by The Wall Street Journal (or another national publication selected by the Administrative Agent), (b) the federal funds rate (as published by the Federal Reserve Bank of New York), plus 0.50%, (c) the daily BSBY (Bloomberg Short-Term Bank Yield Index) rate for a one month interest period plus 1.00%, and (d) 1.00%, plus, in each case, an applicable margin that varies with the Company's consolidated total leverage ratio; or a BSBY rate defined as the greater of (a) the product obtained by multiplying (i) the BSBY screen rate determined as of the reference time for such interest period with a term equivalent to such interest period by (ii) the regulatory reserve rate, and (b) zero, plus, in each case, an applicable margin that varies with the Company's consolidated total leverage ratio. The Company's borrowings under the swingline loans bear interest at the base rate plus the applicable margin.

The initial applicable margin for base rate loans is 2.25%, and the initial applicable margin for BSBY loans is 3.25%. The applicable margins will be adjusted quarterly, in each case ten (10) business days after the Administrative Agent's receipt of the Company's quarterly financial statements. Interest on base rate loans is payable quarterly in arrears, and interest on BSBY loans is payable at the end of each interest period, and in the case of interest periods longer than three months, quarterly.

The Company is also required to pay a commitment fee on the difference between committed amounts under the revolving credit facility and amounts other than swingline loans actually used under the revolving credit facility, which fee initially is 0.45% per annum, subject to adjustment in the same manner as the applicable margins for interest rates.