Company: FR
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118941
Chunk: 49

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-05-13
Form: 424B5
Chunk 49
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it being understood that Debt shall be deemed to be incurred by such person whenever such person shall create, assume, guarantee (on a non-contingentbasis) or otherwise become liable in respect thereof). Notwithstanding the foregoing, with respect to the Operating Partnership, the Company or any Subsidiary, the term “Debt” shall not include Permitted Non-RecourseGuarantees of the Company, the Operating Partnership or any Subsidiary until such time as they become primary obligations of, and payments are due and required to be made thereunder by, the Company, the Operating Partnership or any Subsidiary. “Lien” means any mortgage, deed of trust, lien, charge, pledge, security interest, security agreement, or other encumbrance of any kind. “Non-RecourseDebt” means Debt of a Subsidiary of the Operating Partnership (or an entity in which the Operating Partnership is the general partner or managing member) that is directly or indirectly secured by real estate assets or other real estate-related assets (including equity interests) of a Subsidiary of the Operating Partnership (or entity in which the Operating Partnership is the general partner or managing member) that is the borrower and is non-recourseto the Operating Partnership or any Subsidiary of the Operating Partnership (other than pursuant to a Permitted Non-RecourseGuarantee and other than with respect to the Subsidiary of the Operating Partnership (or entity in which the Operating Partnership is the general partner or managing member) that is the borrower); provided, further, that, if any such Debt is partially recourse to the Operating Partnership or any Subsidiary of the Operating Partnership (other than pursuant to a Permitted Non-RecourseGuarantee and other than with respect to the Subsidiary of the Operating Partnership (or entity in which the Operating Partnership is the general partner or managing member) that is the borrower) and therefore does not meet the criteria set forth above, only the portion of such Debt that does meet the criteria set forth above shall constitute “Non-RecourseDebt.” “Permitted Non-RecourseGuarantees” means customary completion or budget guarantees or indemnities (including by means of separate indemnification agreements and carve-outguarantees) provided under Non-RecourseDebt in the ordinary course of business by the Operating Partnership or any Subsidiary of the Operating Partnership in financing transactions that are directly or indirectly secured by real