Company: LEN
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118869
Chunk: 34

Company: LENNAR CORP /NEW/
Filing Date: 2025-05-13
Form: 424B5
Chunk 34
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 which has a lease of no more than three years in length. |

Notwithstanding the foregoing provisions, we may, and may permit any Restricted Subsidiary to, effect any Sale-Leaseback Transaction involving any real or tangible personal property which is not a Permitted Sale-Leaseback Transaction, provided that the aggregate net sales proceeds from all Sale-Leaseback Transactions which are not Permitted Sale-Leaseback Transactions, together with all Indebtedness secured by Liens which are not Permitted Liens, does not exceed 20% of Consolidated Net Tangible Assets. Mergers and Consolidations.We may not consolidate with or merge into, or sell or lease our assets substantially as an entirety to, a Person unless:

| • |     | the resulting corporation or the person which acquires or leases our assets (if not us) is a corporation                                                                                                                                                 
 organized and existing under the laws of the United States of America, any state thereof or the District of Columbia, and such corporation (if not us) expressly assumes all our obligations under the Notes and all the covenants in the Indenture; and |

S-20

| • |     | immediately after the transaction, no Event of Default or event which, after notice or lapse of time or 
 both, would be an Event of Default, will have occurred and continue.                                    |

Compliance Certificate We must deliver to the Trustee, within 120 days after the end of each fiscal year, an Officers’ Certificate as to the signer’s knowledge of our compliance with all conditions and our covenants in the Indenture. The Officers’ Certificate also must state whether or not the signer knows of any Default or Event of Default that occurred during the preceding fiscal year. If the signer knows of such a Default or Event of Default, the Officers’ Certificate must describe the Default or Event of Default and the efforts to remedy it. For the purposes of this provision of the Indenture, compliance is determined without regard to any grace period or requirement of notice under the Indenture. Events of Default; Notice and Waiver The following will constitute “Events of Default” under the Indenture, subject to any additional limitations and qualifications included in the Indenture:

| • |     | our failure to pay any interest on the Notes continuing for 30 days after it was due; |

| • |     | our failure to pay any principal or redemption price or repurchase price of the Notes when it is due; |

| • |     | our