Company: GLPI
Filing Date: 2025-08-15
Form Type: 424B5
Source: 0001193125-25-181872
Chunk: 69

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-08-15
Form: 424B5
Chunk 69
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 resulting from transactions occurring contemporaneously with the borrowing of funds, or the borrowing of funds, to be applied to such deposit or other Indebtedness which is being Discharged and, in each case, the granting of 
 Liens in connection therewith);                                                                                                                                                                                                                      |

| (5) | such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a                                                                                                                                   
 default under any material agreement or instrument (other than the indenture or any agreement or instrument governing any other Indebtedness which is being Discharged) to which the Issuers are a party or by which the Issuers are bound; |

| (6) | the Issuers must deliver to the trustee an officer’s certificate stating that the deposit was not made by                                                                                                         
 the Issuers with the intent of preferring the holders of notes over the other creditors of the Issuers or with the intent of defeating, hindering, delaying or defrauding creditors of the Issuers or others; and |

S-41

| (7) | the Issuers must deliver to the trustee an officer’s certificate and an opinion of counsel, each stating                                                                                                                                           
 that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. The Legal Defeasance or Covenant Defeasance will be effective on the day on which all the applicable conditions above have been 
 satisfied. Upon compliance with the foregoing, the trustee shall execute proper instrument(s) acknowledging such Legal Defeasance or Covenant Defeasance.                                                                                          |

Satisfaction and Discharge The indenture will be discharged and will cease to be of further effect as to all notes issued thereunder, when:

| (1) | either: |

| (a) | all notes that have been authenticated, except lost, stolen or destroyed notes that have been replaced or paid                                                                                 
 and notes for whose payment money has been deposited in trust and, if provided for in the indenture, thereafter repaid to the Issuers, have been delivered to the trustee for cancellation; or |

| (b) | all notes that have not been delivered to the trustee for cancellation have become due and payable by reason of                                                                                                                                        
 the mailing of a notice of redemption or otherwise or will become due and payable within one year and the Issuers have irrevocably deposited or caused to be deposited with the trustee as trust funds in trust solely for the benefit of the holders, 
 cash in U