Company: EPR-PE
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001193125-25-266433
Chunk: 15

Company: EPR PROPERTIES
Filing Date: 2025-11-05
Form: 424B5
Chunk 15
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 us.

If we default on our obligations to pay our other indebtedness, we may not be able to make payments on the notes.

Any default under the agreements governing our indebtedness, including a default under our credit agreement governing our unsecured revolving credit facility, our note
purchase agreement governing our 4.560% Senior Notes due 2026 or the indentures governing our other existing notes, that is not waived by the required holders of such indebtedness, could leave us unable to pay principal, premium, if any, or interest
on the notes and could substantially decrease the market value of the notes. If we are unable to generate sufficient cash flow and are otherwise unable to obtain funds necessary to meet required payments of principal, premium, if any, or interest on
such indebtedness, or if we otherwise fail to comply with the various covenants, including financial and operating covenants, in the instruments governing our indebtedness, including our credit agreement governing our unsecured revolving credit
facility and our existing notes, we could be in default under the terms of the agreements governing such indebtedness. In the event of such default, the holders of such indebtedness could elect to declare all the funds borrowed thereunder to be due
and payable, together with any accrued and unpaid interest, the lenders under our credit agreement governing our unsecured revolving credit facility could elect to terminate their commitments, cease making further loans and we could be forced into
bankruptcy or liquidation. If our operating performance declines, we may in the future need to seek waivers from the required lenders under our credit agreement governing our unsecured revolving credit facility to avoid being in default. In
addition, upon the occurrence of a “change of control,” as defined in note purchase agreement governing our 4.560% Senior Notes due 2026, with certain exceptions, each holder of such notes will have the right to require us to purchase
the notes. The holders of the notes offered hereby will not have such a right. Our failure to purchase, or give notice of purchase of, our existing 4.560% Senior Notes due 2026 would be a default under the note purchase agreement governing the
notes. If we breach our covenants under our credit agreement governing our unsecured revolving credit facility and seek waivers, we may not be able to obtain waivers from the required lenders thereunder.

Your right to receive payments on the notes is effectively subordinated to the right of lenders who have a security interest in our or our subsidiaries’ assets to the