Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 732

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 732
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iciency of which are hereby acknowledged, the parties do hereby agree as follows:

<div align='center'>I-484

ARTICLE I
NATURE AND SCOPE OF GUARANTY</div>

1.1Guaranty of Obligation. Guarantor hereby irrevocably and unconditionally guarantees to Lender and its successors and assigns the payment and performance of the Guaranteed Obligations as and when the same shall be due and payable, whether by lapse of time, by acceleration of maturity or otherwise. Guarantor hereby irrevocably and unconditionally covenants and agrees that it is liable for the Guaranteed Obligations as a primary obligor. Guarantor shall only be liable for such Guaranteed Obligations to the extent same have accrued prior to the earliest of the following dates (the “Cut-Off Date”): (i) the date of the indefeasible repayment in full of the Debt; and (ii) so long as the Termination Conditions have been satisfied, (A) the date of a sale of all of the Properties pursuant to a foreclosure of the Mortgages or (B) the date on which a deed-in-lieu of foreclosure has been voluntarily accepted by Agent with respect to all of the Properties (it being agreed that Agent shall have no obligation to accept a deed-in-lieu of foreclosure).

1.2Definitions. As used in this Guaranty, the following terms shall have the respective meanings set forth below:

(a)“Guaranteed Obligations” means, collectively, (i) Borrower’s obligation to pay interest payable at the applicable Interest Rate or the Default Rate, as applicable, under the Loan pursuant to the terms of the Loan Documents, (ii) Borrower’s obligation to pay Operating Expenses, Insurance Premiums, Taxes and Other Charges, (iii) Borrower’s obligation to pay Spread Maintenance Payment, (iv) Borrower’s obligation to make any deposits into the Operating Shortfall Reserve Account and (v) payment of Agent’s and Lenders’ cost of enforcement and collection of the Guaranteed Obligations.

(b)“Tail Period Carry Amount” means the amount determined by Agent in its sole but good faith discretion of the Guaranteed Obligations in respect of the period commencing on the Cut-Off Date and ending on the date that is six (6) months following the Cut-Off Date.

(c)“Termination Conditions” means (A) payment of the Spread Maintenance Payment under the Loan Agreement and (B) payment of the Tail