AMENDMENT NO. 2

EX-10.1 3 g27142exv10w1.htm EX-10.1 exv10w1
Exhibit 10.1
EXECUTION VERSION
AMENDMENT NO. 2
          AMENDMENT NO. 2 dated as of May 2, 2011 among The GEO Group, Inc., a Florida corporation (the “Borrower”), its Subsidiaries listed on the signature pages hereto as Guarantors, and BNP Paribas, in its capacity as Administrative Agent under the Credit Agreement referred to below (the “Administrative Agent”) pursuant to authority granted to it by the Required Lenders and by all Tranche B Term Lenders (after giving effect to any replacement of Tranche B Term Lenders in connection with this Amendment No. 2 pursuant to Section 2.18(b) of the Credit Agreement referred to below).
          The Borrower, the Lenders party thereto and the Administrative Agent are parties to a Credit Agreement dated as of August 4, 2010 (as amended by Amendment No. 1, dated as of February 8, 2011, and as may be further amended, restated or otherwise modified from time to time, the “Credit Agreement”), providing, subject to the terms and conditions thereof, for extensions of credit (by means of loans and letters of credit) to be made by the Lenders to the Borrower in an aggregate principal or face amount not exceeding $1,000,000,000.
          The Borrower has requested, and the Lenders party hereto have agreed, that the Credit Agreement be amended in certain respects on the terms and conditions hereof, and accordingly the parties hereto hereby agree as follows:
          Section 1. Definitions; Section References. Except as otherwise defined in this Amendment No. 2 or as the context requires, terms defined in the Credit Agreement are used herein as defined therein, and references to Sections mean the respective Sections of the Credit Agreement.
          Section 2. Amendments.
          2.01. References Generally. References in the Loan Documents to the Credit Agreement shall be deemed to be references to the Credit Agreement as amended hereby.
          2.02. Amendments to the Credit Agreement. Subject to the satisfaction of the conditions precedent specified in Section 4 below, but effective as of the date hereof, the Credit Agreement shall be amended as follows:
          (a) Definitions.
          (i) The following new defined terms shall be inserted into Section 1.01 in the appropriate alphabetical order:
     “Amendment No. 2” means Amendment No. 2 to this Agreement dated as of May 2, 2011.
          “Amendment No. 2 Effective Date” means the date on which the amendments set forth in Amendment No. 2 become effective.
          (ii) Clause (b) of the definition of “Applicable Rate” in Section 1.01 shall be amended to read as follows: “(b) for Tranche B Term Loans, (i) 2.75% per annum in the case of Eurodollar Loans and (ii) 1.75% in the case of ABR Loans”.
          (iii) The definition of “LIBO Rate” in Section 1.01 shall be amended by replacing all references to “1.50%” with “1.00%” in the last sentence thereof.

 


 

          (b) Section 2.10(a) shall be amended by inserting a new sentence at the end thereof reading as follows:
     “If, on or before the date falling three months after the Amendment No. 2 Effective Date, all or any portion of the Tranche B Term Loans held by any Tranche B Term Lender are prepaid with the Net Available Proceeds of any Indebtedness pursuant to Section 2.10(b)(v), then, without limiting any of its other obligations hereunder, the Borrower shall pay to such Tranche B Term Lender on the date of such prepayment an amount equal to 1.00% of the principal amount of such Tranche B Term Loan so prepaid.”
     Section 3. Representations and Warranties. The Borrower represents and warrants to the Lenders and the Administrative Agent, that: (a) the representations and warranties set forth in Article III (as hereby amended) of the Credit Agreement, and in each of the other Loan Documents, are true and complete on the date hereof as if made on and as of the date hereof (or, if any such representation or warranty is expressly stated to have been made as of a specific date, such representation or warranty shall be true and correct as of such specific date), and as if each reference in said Article III to “this Agreement” included reference to this Amendment No. 2 and (b) no Default has occurred and is continuing. All references herein to “the date hereof” mean references to the date of the Credit Agreement.
     Section 4. Conditions Precedent. The amendments set forth in Section 2 hereof shall become effective on the date that each of the following conditions shall have been satisfied:
          (a) the Administrative Agent shall have received counterparts of this Amendment No. 2 executed by the Borrower, the Guarantors and the Administrative Agent; and
          (b) the Borrower shall have paid to each Lender that executed and delivered a counterpart hereof on or before April 13, 2011 a consent fee equal to 0.125% of the aggregate principal amount of its Tranche B Term Loans outstanding on such date.
     Section 5. Security Documents. The Borrower and the Guarantors hereby ratify and confirm their respective obligations, and the Liens respectively granted by them, under the Loan Documents.
     Section 6. Miscellaneous. Except as herein provided, the Loan Documents shall remain unchanged and in full force and effect. This Amendment No. 2 may be executed in any number of counterparts, all of which taken together shall constitute one and the same amendatory instrument and any of the parties hereto may execute this Amendment No. 2 by signing any such counterpart. This Amendment No. 2 shall be governed by, and construed in accordance with, the law of the State of New York.
[Signature pages follow]
Amendment No. 2

 


 

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to be duly executed and delivered as of the day and year first above written.
         
  THE GEO GROUP, INC.,
as Borrower
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Senior Vice President and CFO   

Amendment No. 2


 

         
         
  GUARANTORS :

CORRECTIONAL SERVICES CORPORATION
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and Treasurer   
 
  CORRECTIONAL PROPERTIES PRISON FINANCE LLC
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President—Finance   
 
  CPT LIMITED PARTNER, LLC
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President   
 
  CPT OPERATING PARTNERSHIP L.P.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President—Finance   
 
  GEO ACQUISITION II, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President—Finance   
 
  GEO CARE, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Treasurer   
 
  GEO HOLDINGS I, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President—Finance   

Amendment No. 2


 

         
         
  GEO RE HOLDINGS LLC
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Senior Vice President & Treasurer   
 
  GEO TRANSPORT, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and Treasurer   
 
  JUST CARE, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and Treasurer   
 
  PUBLIC PROPERTIES DEVELOPMENT AND LEASING LLC
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President — Finance   
 
  CORNELL COMPANIES, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   
 
  CCG I CORPORATION
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   
 
  CORNELL ABRAXAS GROUP, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   

Amendment No. 2


 

         
         
  CORNELL COMPANIES ADMINISTRATION, LLC
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   
 
  CORNELL COMPANIES MANAGEMENT
HOLDINGS, LLC
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   
 
  CORNELL COMPANIES MANAGEMENT, LP
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   
 
  CORNELL COMPANIES MANAGEMENT SERVICES, LIMITED PARTNERSHIP
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   
 
  CORNELL CORRECTIONS MANAGEMENT, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   
 
  CORNELL CORRECTIONS OF ALASKA, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   
 
  CORNELL CORRECTIONS OF CALIFORNIA, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   

Amendment No. 2


 

         
         
  CORNELL CORRECTIONS OF RHODE ISLAND, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   
 
  CORNELL CORRECTIONS OF TEXAS, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   
 
  CORNELL INTERVENTIONS, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   
 
  CORRECTIONAL SYSTEMS, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President & Treasurer   
 
  WBP LEASING, INC.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   
 
  WBP LEASING, LLC
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President and CFO   
 
  BII HOLDING CORPORATION
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President — Finance   

Amendment No. 2


 

         
         
  BII HOLDING I CORPORATION
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President — Finance   
 
  BEHAVIORAL HOLDING CORP.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President — Finance   
 
  BEHAVIORAL ACQUISITION CORP.
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President — Finance   
 
  B.I. INCORPORATED
 
 
  By:   /s/ Brian R. Evans    
    Name:   Brian R. Evans   
    Title:   Vice President — Finance   

Amendment No. 2


 

         
         
  BNP PARIBAS,
as Administrative Agent
 
 
  By:   /s/ Robbin Park    
    Name:   Robbin Park   
    Title:   Managing Director   
     
  By:   /s/ Aashish Mohan    
    Name:   Aashish Mohan   
    Title:   Managing Director
Loan Syndication & Trading — Americas 
 
 
  BNP PARIBAS,
as Lender
 
 
  By:   /s/ Robbin Park    
    Name:   Robbin Park   
    Title:   Managing Director   
     
  By:   /s/ Laleh Bashirrad    
    Name:   Laleh Bashirrad   
    Title:   Director   
 

Amendment No. 2