Company: GLPI
Filing Date: 2025-08-13
Form Type: 424B5
Source: 0001193125-25-179509
Chunk: 65

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-08-13
Form: 424B5
Chunk 65
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 benefits to the holders of notes (including to                                                                                                      
 provide for any guarantees of the notes or any collateral securing the notes or any guarantees of the notes) or that does not materially adversely affect the legal rights under the indenture of any such holder; |

| (8) | to comply with requirements of the SEC in order to effect or maintain the qualification of the indenture under 
 the TIA; or                                                                                                    |

| (9) | to conform the text of the indenture or the notes to any provision of the Description of Notes contained in the 
 2013 Offering Memorandum or this prospectus supplement as set forth in an officer’s certificate.                |

Legal Defeasance and Covenant Defeasance The Issuers may, at their option and at any time, elect to have all of their obligations discharged with respect to any series of the outstanding notes (“ Legal Defeasance”) except for:

| (1) | the rights of holders of outstanding notes to receive payments in respect of the principal of or interest or 
 premium on such notes when such payments are due from the trust referred to below;                           |

| (2) | the Issuers’ obligations with respect to the notes concerning issuing temporary notes, the replacement of                                        
 mutilated, destroyed, lost or stolen notes and the maintenance of an office or agency for payment and money for security payments held in trust; |

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| (3) | the rights, powers, trusts, duties and immunities of the trustee, and the Issuers’ obligations in 
 connection therewith; and                                                                         |

| (4) | the Legal Defeasance provisions of the indenture. |

In addition, the Issuers may, at their option and at any time, elect to have the obligations of the Issuers released with respect to certain covenants that are described in the indenture (“ Covenant Defeasance”) and thereafter any omission to comply with those covenants will not constitute a default or event of default with respect to the notes. In the event Covenant Defeasance occurs, certain events (not including the events described in clauses (1), (2), or (4) under the caption “Events of Default” above pertaining to the Issuers) described under the caption “Events of Default” above will no longer constitute an event of default with respect to the notes. The Issuers may exercise Legal Defeasance regardless of whether they previously have exercised Covenant Defeasance. In order to exercise either Legal Def