SEC Contract Filing

Filing Date: 2019-02-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.16
<SEQUENCE>2
<FILENAME>glpi-20181231exhibit1016.htm
<DESCRIPTION>GLPI EXHIBIT 10.16
<TEXT>
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<div><a name="s7ba726702fa54163a09c621b6b91b1bb"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.16</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SEVENTH AMENDMENT TO MASTER LEASE</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THIS SEVENTH AMENDMENT TO MASTER LEASE (this &#8220;Amendment&#8221;) is being entered into on this 31st day of October, 2018 (the "Effective Date"), by and between Landlord and Tenant, as more fully set forth herein, and shall amend that certain Master Lease, dated November 1, 2013, as amended to the date hereof (collectively, the &#8220;Master Lease&#8221;), by and among GLP Capital, L.P. (together with its permitted successors and assigns, &#8220;Landlord&#8221;) and Penn Tenant, LLC (together with its permitted successors and assigns, &#8220;Tenant&#8221;), pursuant to which Tenant leases certain Leased Property, as further defined in the Master Lease (the &#8220;Existing Leased Property&#8221;).&#160;&#160;Landlord and Tenant each desire to remove certain portions of the Existing Leased Property as identified and defined in&#160;Annex A&#160;attached hereto and incorporated herein (the &#8220;Removed Leased Property&#8221;) from the terms, covenants and conditions of the Master Lease.&#160;&#160;Capitalized terms used herein and not otherwise defined herein shall have the meaning ascribed to them in the Master Lease.</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BACKGROUND:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, Landlord and Tenant each desire to amend the Master Lease as more fully described herein.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NOW, THEREFORE, in consideration of the provisions set forth in the Master Lease as amended by this Amendment, including, but not limited to, the mutual representations, warranties, covenants and agreements contained therein and herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby respectively acknowledged, and subject to the terms and conditions thereof and hereof, the parties, intending to be legally bound, hereby agree that the Master Lease shall be amended as follows:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ARTICLE I</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">REMOVAL OF REMOVED LEASED PROPERTY</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibit B to the Master Lease is hereby amended to remove the description of the Removed Leased Property as set forth in&#160;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Annex A</font><font style="font-family:inherit;font-size:10pt;">&#160;attached hereto and incorporated hereby by this reference from the description of the Land.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ARTICLE II</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;