Future Facilities definition
Examples of Future Facilities in a sentence
If, following the date hereof, CCA shall receive a bona fide third party offer to Transfer any Existing Facilities or Future Facilities, then, prior to accepting such third party offer, CCA shall send written notice and a copy thereof to the Company ("CCA's Sale Notice").
In accordance with Section 2.2 of the Wholesale Agreement II (“Section 2.2”), the City, by this Amendment, is notifying HSE that it has elected Expansion (as defined in the Wholesale Agreement II) for construction of the Future Facilities (as defined in the Wholesale Agreement II).
CMSC desires to grant to the Company herewith an option under certain circumstances to purchase Future Facilities (as defined herein).
This Agreement shall expire on the earlier to occur of (i) the expiration or termination of all of the Leases relating to any Existing Facilities or Future Facilities or (ii) fifteen (15) years from the date hereof.
It is anticipated that, subject to the requirements of the Regulations, the design and construction of Future Facilities described herein will generally follow this pattern as well.
For Future Facilities acquired pursuant to this paragraph 3 within five(5) years of the date hereof, the Base Rent shall be the greater of (i) the fair market rental value of such Future Facility, as reasonably and mutually determined by Company and CCA and (ii) eleven percent (11%) of the purchase price of such Future Facility.
For the purposes of any Site Licence and this Agreement, the space to be available to the Operator on the Future Site will be deemed to be the Reserved Capacity, the Future Site will be deemed to be a Site and the Future Facilities will be deemed to be Facilities.
With respect to the Future Facilities, Seller shall be responsible for all construction-related issues pursuant to the terms of the Development Agreement.
This Agreement shall be effective upon the consummation of the merger by and between Corrections Corporation of America, a Tennessee corporation, CCA Prison Realty Trust, a Maryland real estate investment trust, and the Company, and shall expire on the earlier to occur of (i) the expiration or termination of all of the Leases relating to any Future Facilities or (ii) fifteen (15) years from the effective date hereof.
The Company shall have a right of first refusal to purchase (hereinafter referred to as the "Purchase Refusal Right") any correctional or detention facility which is acquired or developed, and owned, by CMSC or any of its Affiliates (as defined herein) in the future (hereinafter referred to as the "Future Facilities"), subject to the terms and conditions hereof.