Document:

Exhibit

Exhibit 10.5

AMENDMENT No. 3 to the Credit Agreement, dated as of October 10, 2018 (this “Amendment”), to the Credit Agreement dated as of October 28, 2013 among GLP CAPITAL, L.P. (as successor-by-merger to GLP Financing, LLC), a Pennsylvania limited partnership (the “Borrower”), the several banks and other financial institutions or entities from time to time parties to the Credit Agreement (the “Lenders”), JPMORGAN CHASE BANK, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”) and the various other parties thereto (as amended by Amendment No. 1 to the Credit Agreement, dated as of July 31, 2015, the “Credit Agreement”, as amended by Amendment No. 2 to the Credit Agreement, dated as of May 21, 2018, and the Credit Agreement, as amended by this Amendment, the “Amended Credit Agreement”); capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Amended Credit Agreement.

WHEREAS, the Borrower has requested to increase the aggregate amount of the Revolving Commitments under the Credit Agreement by an amount equal to $75,000,000 (the “R-1 Revolving Commitment Increase”), which R-1 Revolving Commitment Increase will be provided by Goldman Sachs Bank USA (the “R-1 Revolving Commitment Increase Lender”); and

WHEREAS, the R-1 Revolving Commitment Increase Lender is willing to provide such additional R-1 Revolving Commitments on the specified terms and subject to the conditions herein.

NOW, THEREFORE, in consideration of the premises and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

Section 1.    Credit Agreement Amendments.    Effective as of the Amendment No. 3 Effective Date, the Credit Agreement is hereby amended as follows:

(a)The following definitions are hereby added to Section 1.01 of the Credit Agreement in the appropriate alphabetical order:

(i)“Amendment No. 3 to the Credit Agreement” means Amendment No. 3 to the Credit Agreement, dated as of October 10, by and among the Borrower, the Administrative Agent, the R-1 Revolving Commitment Increase Lender party thereto and the various other parties thereto.

(ii)“Amendment No. 3 Effective Date” means the date on which each of the conditions set forth in Section 6 of Amendment No. 3 to the Credit Agreement have been satisfied, such date being October 10, 2018.

(b)The definition of “R-1 Revolving Commitment” is hereby amended by replacing the reference to “Annex A to Amendment No. 2 to the Credit Agreement” with “Annex A to Amendment No. 3 to the Credit Agreement”.

Section 2.    Consent to the New Revolving Lender. The Administrative Agent, the L/C Issuer and the Borrower hereby consent to the R-1 Revolving Commitment

Increase Lender becoming a “Lender” and providing R-1 Revolving Commitments under the Credit Agreement as amended hereby.

Section 3.    R-1 Revolving Commitment Increase. The R-1 Revolving Commitment Increase Lender has agreed (on a several and not joint basis), subject to the terms and conditions set forth herein and in the Credit Agreement, as amended by this Amendment, to provide the Commitment in the amount set forth opposite its name on Annex A hereto.

Section 4.    Reallocation. On the Amendment No. 3 Effective Date, the Borrower shall, in coordination with the Administrative Agent, repay outstanding R-1 Revolving Loans of the Revolving Lenders that are not the R-1 Revolving Commitment Increase Lender, and incur additional R-1 Revolving Loans from the R-1 Revolving Commitment Increase Lender to the extent necessary so that all of the Revolving Lenders participate in each outstanding Borrowing of R-1 Revolving Loans pro rata on the basis of their respective R-1 Revolving Commitments (after giving effect to any increase in the R-1 Revolving Commitments pursuant to this Amendment). The participations in any outstanding Letters of Credit shall be adjusted in accordance with the percentage of each Revolving Lender's R-1 Revolving Commitment as reallocated in accordance with such increase of the total amount of R-1 Revolving Commitments.

Section 5.    Representations and Warranties, No Default. The Borrower hereby represents and warrants that as of the Amendment No. 3 Effective Date, after giving effect to this Amendment, (i) no Default or Event of Default exists under the Amended Credit Agreement and is continuing and (ii) all representations and warranties contained in the Amended Credit Agreement are true and correct in all material respects as of the Amendment No. 3 Effective Date as though made on and as of such date, except to the extent such representations and warranties (x) expressly relate to an earlier date (in which case such representations and warranties shall be true and correct in all material respects as of such earlier date) or (y) expressly relate to the Closing Date; provided that any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates.

Section 6.    Conditions to Effectiveness to Amendment No. 3 to the Credit Agreement. This Amendment shall become effective on the date (such date, if any, the “Amendment No. 3 Effective Date”) that the following conditions have been satisfied:

(i)Consents. The Administrative Agent shall have received executed signature pages hereto from the R-1 Revolving Commitment Increase Lender providing the R-1 Revolving Commitment Increase and the Borrower.

(ii)Fees. All fees and out-of-pocket expenses required to be paid or reimbursed by Borrower pursuant to Section 10.04 of the Credit Agreement or as separately agreed by Borrower and the R-1 Revolving Commitment Increase Lender with respect to this Amendment, including the reasonable fees and out-of-pocket

expenses of the R-1 Revolving Commitment Increase Lender and of Cahill Gordon & Reindel LLP, in each case which shall have been invoiced prior to the Amendment No. 3 Effective Date, shall have been paid or reimbursed;

(iii)Legal Opinions. The Administrative Agent shall have received favorable legal opinions of (x) Goodwin Proctor LLP, as special New York counsel for the Borrower and Parent and (y) Ballard Spahr LLP, as Pennsylvania counsel for the Borrower and Parent, each covering such matters relating to the Borrower, Parent and this Amendment substantially consistent with the opinions provided in connection with the Closing Date;

(iv)Closing Certificate. The Administrative Agent shall have received a certificate of a Responsible Officer of the Borrower dated the Amendment No. 3 Effective Date, certifying that each of the representations and warranties specified in Section 5 are true and correct in all material respects as of the Amendment No. 3 Effective Date as though made on and as of such date, except to the extent such representations and warranties (x) expressly relate to an earlier date (in which case such representations and warranties shall be true and correct in all material respects as of such earlier date) or (y) expressly relate to the Closing Date; provided that any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates;

(v)Solvency Certificate. Parent shall have delivered to the Administrative Agent a certificate as to the financial condition and solvency of Parent and its subsidiaries on a consolidated basis, substantially in the form attached as Exhibit A hereto;

(vi)Borrower’s Officer’s Certificate. The Administrative Agent shall have received a certificate of a Responsible Officer (in substantially the form of Exhibit E-1 to the Credit Agreement) dated the Amendment No. 3 Effective Date, certifying as to the Organization Documents of the Borrower (which, to the extent filed with a Governmental Authority, shall be certified as of a recent date by such Governmental Authority), the resolutions of Parent acting in its capacity as the general partner of the sole or managing member of the Borrower authorizing the Borrower to enter into and perform this Amendment and the good standing, existence or its equivalent of the Borrower;

(vii)Parent’s Officer’s Certificate. The Administrative Agent shall have received a certificate of a Responsible Officer (in substantially the form of Exhibit E-2 to the Credit Agreement) dated the Amendment No. 3 Effective Date, certifying as to the Organization Documents of Parent (which, to the extent filed with a Governmental Authority, shall be certified as of a recent date by such Governmental Authority), the resolutions of the governing body of Parent, the good standing, existence or its

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equivalent of Parent and of the incumbency of the Responsible Officers to execute documents on behalf of Parent;

(viii)KYC. To the extent requested prior to the Amendment No. 3 Effective Date by the Administrative Agent or the R-1 Revolving Commitment Increase Lender, Parent and the Borrower shall have delivered, on or prior to the Amendment No. 3 Effective Date, the documentation and other information with respect to Parent and the Borrower to the Administrative Agent required by regulatory authorities under applicable “know-your-customer” rules and regulations, including the PATRIOT Act; and

(ix)Certification of Beneficial Ownership. If the Borrower qualifies as a “legal entity customer” under 31 C.F.R. § 1010.230 (the “Beneficial Ownership Regulation”), the Borrower shall have delivered to the Administrative Agent, on or prior to the Amendment No. 3 Effective Date, a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation to the extent requested by the Administrative Agent or the R-1 Revolving Commitment Increase Lender.

Section 7.    Counterparts. This Amendment may be executed in counterparts (and by different parties hereto in different counterparts) each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment by fax transmission or other electronic scan transmission (e.g., “pdf” or “tif”) shall be effective as delivery of an originally executed counterpart hereof.

Section 8.    Applicable Law; Waiver of Jury Trial; Jurisdiction; Consent to Service of Process. The provisions set forth in Sections 10.14 and 10.15 of the Credit Agreement are hereby incorporated mutatis mutandis with all references to the “Agreement” therein being deemed references to this Amendment.

Section 9.    Headings. The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.

Section 10.    Effect of Amendment. Except as expressly set forth herein, this Amendment (i) shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders, the Administrative Agent or any other Agent, in each case under the Amended Credit Agreement or any other Loan Document, and (ii) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Amended Credit Agreement or any other Loan Document. This Amendment shall constitute a Loan Document for purposes of the Amended Credit Agreement and from and after the Amendment No. 3 Effective Date, all references to the Credit Agreement in any Loan Document and all references in the Amended Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, shall, unless expressly provided otherwise, refer to the Amended Credit Agreement. The Borrower hereby consents to this Amendment and confirms that all obligations of the Borrower under the Loan Documents to which it is a party shall continue to apply to the Amended Credit Agreement.

[Signature pages follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.

GLP CAPITAL, L.P. 

By: GAMING AND LEISURE PROPERTIES, INC., its
general partner

By: /s/ Steven T. Snyder
Name: Steven T. Snyder
Title: Interim Chief Financial Officer

[Signature Page to Amendment No. 3 to the Credit Agreement]

JPMORGAN CHASE BANK, N.A.
as Administrative Agent, L/C Issuer and Swingline Lender

By: /s/ Jaime Gitler
Name: Jaime Gitler
Title: Vice President

[Signature Page to Amendment No. 3 to the Credit Agreement]

The undersigned Lender hereby consents to this
Amendment No. 3 to the Credit Agreement.

GOLDMAN SACHS BANK USE
as a R-1 Revolving Commitment Increase Lender

By: /s/ Thomas M. Manning
Name: Thomas M. Manning
Title: Authorized Signatory

[Signature Page to Amendment No. 3 to the Credit Agreement]

SCHEDULE  A

	
		
	 Revolving Lender

Citizens Bank, National Association
	 R-1 Revolving Commitment

$113,407,409

	Wells Fargo Bank, National Association
	$187,399,586

	Fifth Third Bank
	$151,919,330

	Bank of America, N.A.
	$144,859,728

	JPMorgan Chase Bank, N.A.
	$134,509,864

	Suntrust Bank
	$119,002,591

	Manufacturers and Traders Trust Company
	$99,551,864

	Barclays Bank PLC
	$80,000,000

	Goldman Sachs Bank USA
	$75,000,000

	Credit Agricole Corporate and Investment Bank
	$69,349,628

	Total
	$1,175,000,000

Exhibit A

FORM OF SOLVENCY CERTIFICATE
 [_________], [__]

The undersigned, [     ], the [     ] of Gaming and Leisure Properties, Inc. (“Parent”), is familiar with the properties, businesses, assets and liabilities of Parent and is duly authorized to execute this certificate (this “Solvency Certificate”) on behalf of Parent.

This Solvency Certificate is delivered pursuant to Section 3(v) of that certain Amendment No. 3 to the Credit Agreement, dated as of May 21, 2018 (“Amendment No. 3”; terms defined therein unless otherwise defined herein being used herein as therein defined), among Parent, GLP Capital, L.P. (as successor-by-merger to GLP Financing, LLC), a Pennsylvania limited partnership, as the Borrower, each lender from time to time party thereto (collectively, the “Lenders”) and JPMorgan Chase Bank, N.A., as administrative agent thereunder (in such capacity, the “Administrative Agent”).

As used herein, “Company” means Parent and its subsidiaries on a consolidated
basis.

		
	1.
	I, [     ],  hereby certify that  I am the [_     ] of Parent and that I

am knowledgeable of the financial and accounting matters of the Company, the Credit Agreement and the covenants and representations (financial or otherwise) contained therein and that, as such, I am authorized to execute and deliver this Solvency Certificate on behalf of  Parent.

2.The undersigned certifies, on behalf of Parent and not in his individual capacity, that he has made such investigation and inquiries as to the financial condition of the Company as the undersigned deems necessary and prudent for the purposes of providing this Solvency Certificate. The undersigned acknowledges that the Administrative Agent and the Lenders are relying on the truth and accuracy of this Solvency Certificate in connection with the making of Loans under the Credit Agreement.

3.The undersigned certifies, on behalf of Parent and not in his individual capacity, that (a) the financial information, projections and assumptions which underlie and form the basis for the representations made in this Solvency Certificate were made in good faith and were based on assumptions reasonably believed by Parent to be fair in light of the circumstances existing at the time made; and (b) for purposes of providing this Solvency Certificate, the amount of contingent liabilities has been computed as the amount that, in the light of all the facts and circumstances existing as of the date hereof, represents the amount that can reasonably be expected to become an actual or matured liability.

BASED ON THE FOREGOING, the undersigned certifies, on behalf of Parent and not in his individual capacity, that, on the date hereof, before and after giving effect to Amendment No. 3:

1.the fair value of the property of the Company (including, for the avoidance of doubt, property consisting of the residual equity value of the Company’s subsidiaries) is greater than the total amount of liabilities, including contingent liabilities, of the Company;

2.the present fair salable value of the assets of the Company (including, for the avoidance of doubt, property consisting of the residual equity value of the Company’s subsidiaries) is greater than the amount that will be required to pay the probable liability of the Company on the sum of its debts and other liabilities, including contingent liabilities;

3.the Company has not, does not intend to, and does not believe (nor should it reasonably believe) that it will, incur debts or liabilities beyond the Company’s ability to pay such debts and liabilities as they become due (whether at maturity or otherwise);

4.the Company does not have unreasonably small capital with which to conduct the businesses in which it is engaged as such businesses are now conducted and are proposed to be conducted following the Amendment No. 3 Effective Date; and

5.    the Company is able to pay its debts and liabilities, contingent obligations and other commitments as they mature in the ordinary course of business.

IN WITNESS WHEREOF, the undersigned has executed this Solvency Certificate as of the first date written above, solely in his capacity as [     ] of Parent and not in his individual capacity.

Name:  __________________________     
Title: ____________________________Exhibit

Exhibit 10.1

CRESTWOOD EQUITY PARTNERS LP
2018 LONG TERM INCENTIVE PLAN
Restricted Unit Award Grant Notice

Pursuant to the terms and conditions of the Crestwood Equity Partners LP 2018 Long Term Incentive Plan, (the “Plan”), and the associated Restricted Unit Award Agreement, (the “Agreement”), Crestwood Equity GP LLC, a Delaware limited liability company, the general partner (“General Partner”) of Crestwood Equity Partners LP, a Delaware limited partnership (the “Partnership”), hereby grants to the individual listed below (“you” or “Service Provider”) the number of Restricted Units set forth below.  A copy of the Plan and the Agreement may be downloaded through your Solium account. Capitalized terms used but not defined herein shall have the meanings set forth in the Plan.  This Restricted Unit Award (as defined below) is subject to the terms and conditions set forth herein as a well as the terms and conditions set forth in the Agreement and the Plan, each of which is incorporated herein by reference.
	
			
	 
	 
	 

	 
	 
	 

	Service Provider:
	 
	 

	 
	 
	 

	Date of Grant:
	 
	                     ___, 20___(“Date of Grant”)

	 
	 
	 

	Number of Restricted Units Granted:
	 
	                     (the “Restricted Unit Award”)

	 
	 
	 

	Vesting Schedule:
	 
	The restrictions on the Restricted Unit Award will expire and the Restricted Units granted pursuant to the Agreement will become transferable and nonforfeitable: 

	
		
	Vesting Date
	Vesting Percentage of Restricted Unit Award

	 
	 

	 
	 

	 
	 

	
			
	 
	 
	provided, however, that such restrictions will expire on such dates only if you remain a Service Provider to the General Partner, the Partnership or their respective Affiliates continuously from the Date of Grant through the applicable vesting date.

	
			
	 
	 
	Notwithstanding anything to the contrary herein or in the Agreement, the Forfeiture Restrictions on the Restricted Unit Award shall immediately lapse, and the Restricted Unit Award will be fully vested if: 

(i) a Change in Control occurs; 
(ii) your service relationship with the General Partner, the  Partnership or any of their Affiliates is terminated due to your death or Permanent Disability; or
(iii) your service relationship with the General Partner, the Partnership or any of their Affiliates is terminated without Employer Cause, or you terminate your service relationship for Employee Cause.

For purposes of this Restricted Unit Award, “Permanent Disability,” “Employer Cause” and “Employee Cause” shall have the meaning given such terms in any employment agreement between you and the General Partner, the Partnership or any of their respective Affiliates.  Provided, however, that if there is no existing employment agreement between you and the General Partner, the Partnership or any of their respective Affiliates, the term:
“Permanent Disability” shall mean your inability, with or without reasonable accommodation, by reason of illness, incapacity, or other disability, to perform your duties or fulfill your employment obligations, as determined by an officer of the Company for a cumulative total of 180 days in any 12 month period; 
“Employer Cause” shall mean that you (a) have been indicted or convicted of, or have entered a plea of guilty or nolo contendere to, a felony charge or crime involving moral turpitude, or, in the course of your employment have engaged in fraudulent or criminal activity (whether or not prosecuted); (b) have failed to follow reasonable directions of the General Partner, the Partnership or any of their respective Affiliates, provided that the foregoing failure shall not be “Employer Cause” if you in good faith believe that such direction is illegal and promptly so notify the Board; (c) have failed to devote all of your professional time to the General Partner, the Partnership and their respective Affiliates, except as permitted by the General Partner, the Partnership and their respective Affiliates; (d) have materially breached any policy or code of conduct of the General Partner, the Partnership and their respective Affiliates; (e) have received a kickback or rebate of any fee or expense paid by the General Partner, the Partnership and their respective Affiliates; (f) have engaged in the use of illegal drugs, the persistent excessive use of alcohol, or any other activity that materially impairs your ability to perform your duties or results in conduct bringing the General Partner, the Partnership or any of their respective Affiliates into substantial public disgrace or disrepute, or (h) engage in intentional, reckless, or grossly negligent conduct that has or is reasonably likely to have a material adverse effect on the General Partner, the Partnership or any of their respective Affiliates; and

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	“Employee Cause” shall mean (a) a substantial and continuing diminution in the nature of your responsibilities; (b) a material and continuing reduction in the aggregated total of your base salary, target bonus percentage and target equity percentage; or (C) reassignment by the General Partner, the Partnership or any of their respective Affiliates of your principal place of employment to a location more than fifty (50) miles from your principal place of employment on the first day of employment, but excluding normal business travel consistent with your duties, responsibilities and position; provided, however that Employee Cause will not exist unless: (i) you have notified the General Partner in writing within 30 days of the date you become aware of the event that would constitute Employee Cause, with such notice setting forth such event in reasonable detail; (ii) the event must remain uncorrected by the General Partner, the Partnership or any of their respective Affiliates, as applicable, for 30 days following the receipt of such notice (the “Notice Period”); and (iii) you must actually terminate your employment within 30 days after the expiration of the Notice Period.

By your signature and the signature of the Partnership’s representative below, you and the Partnership hereby acknowledge receipt of the Restricted Unit Award issued on the Date of Grant indicated above, which have been issued under the terms and conditions of the Plan, the Agreement and this Restricted Unit Award Grant Notice, and you agree to be bound to the terms of each such document..  

Additionally, you are consenting to receive documents from the General Partner, the Partnership and any plan administrator by means of electronic delivery, provided that such delivery complies with the rules, regulations and guidance issued by the Securities and Exchange Commission and any other applicable government agency. This consent shall be effective for the entire time that you are a participant in the Plan. 
    
You acknowledge and agree that (a) you are not relying upon any determination by the General Partner, the Partnership, any of their respective Affiliates, or any of their respective employees, directors, officers, attorneys, or agents (collectively, the “Partnership Parties”) of the Fair Market Value of the Units on the Date of Grant, (b) you are not relying upon any written or oral statement or representation of the Partnership Parties regarding the tax effects associated with your execution of the Agreement and your receipt, holding and vesting of the Restricted Unit Award, and (c) in deciding to enter into this Agreement, you are relying on your own judgment and the judgment of the professionals of your choice with whom you have consulted.  You hereby release, acquit and forever discharge the Partnership Parties from all actions, causes of actions, suits, debts, obligations, liabilities, claims, damages, losses, costs and expenses of any nature whatsoever, known or unknown, on account of, arising out of, or in any way related to the tax effects associated with your execution of the Agreement and your receipt, holding and exercise of the Restricted Unit Award.

Furthermore, you understand and acknowledge that you should consult with your tax advisor regarding the advisability of filing with the Internal Revenue Service an election under Section 83(b) of the Code with respect to the Restricted Unit Award for which the restrictions have not lapsed.  This election (a form of which can be downloaded from your Solium account) must be filed no later than 30 days after the Date of Grant set forth in this Restricted Unit Award Grant Notice.  This time period cannot be extended.  You acknowledge (a) that you have been advised to consult with a tax advisor 

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regarding the tax consequences of the Restricted Unit Award and (b) that timely filing of a Section 83(b) election is your sole responsibility, even if you request the Partnership or its representative to file such election on your behalf.

You further acknowledge receipt of a copy of the Plan and the Agreement and agree to all of the terms and conditions of the Plan and the Agreement.

Note: To accept the Restricted Unit Award, execute this form and return an executed copy to the Designated Recipient as indicated below by _________ ___, 20___.  Failure to return the executed copy to the Designated Recipient by such date will render this issuance invalid.

Please return the signed copy (scanned or faxed copies are acceptable) to:

Judy Riddle
Crestwood Equity Partners LP
2440 Pershing Road, Suite 600
Kansas City, MO 64108
Fax: 816-531-4680
judy.riddle@crestwoodlp.com

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CRESTWOOD EQUITY GP LLC,
a Delaware limited liability company

By:                        
Name:                        
Title:                        

Accepted by:

                        
[Name of Grantee]

Date:                        

Designation of Beneficiary:

                        
(Name of Beneficiary)

                        
(Relationship to Holder)

                        
(Street Address)

                        
(City, State, Zip Code)

                        
(Social Security Number)

SIGNATURE PAGE
TO
RESTRICTED UNIT AWARD GRANT NOTICE

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