Company: FR
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118941
Chunk: 38

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-05-13
Form: 424B5
Chunk 38
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 delivering to the trustee an opinion of counsel to the effect that the holders of the notes will not recognize                                                                                                                                            
 income, gain or loss for United States federal income tax purposes as a result of the deposit and related covenant defeasance and will be subject to United States federal income tax on the same amounts and in the same manner and at the same times as 
 would have been the case if the deposit and related covenant defeasance had not occurred.                                                                                                                                                                 |

Covenant defeasance and Events of Default In the event we exercise our option to effect covenant defeasance with respect to the notes and the notes are declared due and payable because of the occurrence of any Event of Default, the amount of cash in U.S. dollars and/or U.S. Government Obligations on deposit with the trustee may not be sufficient to pay amounts due on the notes at the time of the acceleration resulting from the event of default. In such a case, we would remain liable for those payments. Satisfaction and discharge The indenture will be discharged and will cease to be of further effect as to all outstanding notes when:

| • |     | either: |

| • |     | all notes that have been authenticated and delivered (other than notes that have been destroyed, lost or stolen                                              
 and that have been replaced or paid and notes for whose payment money has been deposited in trust and thereafter repaid) to the trustee for cancellation; or |

| • |     | all notes that have not been delivered to the trustee for cancellation: (i) have become due and payable by                                                                                                                                               
 reason of sending a notice of redemption or otherwise; (ii) will become due and payable at their stated maturity within one year; (iii) have been called for redemption or are to be called for redemption within one year under arrangements            
 satisfactory to the trustee for the giving of notice of redemption by the trustee in our name, and at our expense; or (iv) are deemed paid and discharged as set forth under the caption “—Defeasance—Legal Defeasance”; and we,                         
 in case of (i), (ii) or (iii), have irrevocably deposited or caused to be irrevocably deposited with the trustee in trust cash in U.S. dollars and/or U.S. Government Obligations that, through the payment of principal and interest in accordance with 
 their terms, will provide cash sufficient to pay and discharge the entire indebtedness on the notes not delivered to the trustee for cancellation for principal of, and premium