Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2134

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2134
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 and shall have the right to rely on any notice from Mezzanine Loan Administrative Agent indicating that Mezzanine Lender is making a Special Mezzanine Loan Advance directly to such Lender for the purposes described above without having to determine whether Mezzanine Lender has made such Special Mezzanine Loan Advance in accordance with the requirements of the Mezzanine Loan Agreement); provided that Borrower shall nonetheless cooperate with respect to any Special Mezzanine Loan Advance as set forth in Article VII. From and after the making of any Special Mezzanine Loan Advance, (A) the Loan Amount shall be reduced (and such term deemed to be modified to reflect such reduction) by that portion of the Special Mezzanine Loan Advance that has repaid a portion of the Outstanding Principal Balance; and (B) the Loan Amount (Note B) shall be reduced (and such term deemed to be modified to reflect such reduction) by that portion of the Special Mezzanine Loan Advance that has repaid a portion of the Outstanding Principal Balance evidenced by Note B. From and after the making of any Special Mezzanine Loan Advance, all references in the Loan Documents to any Note that has been repaid shall be of no further force or effect, and, if applicable, the Monthly Payment Amount shall be recalculated to account for such prepayment. Borrower and Lender acknowledge and agree that Mezzanine Loan Administrative Agent and Mezzanine Lender are each an intended third-party beneficiary of the right to prepay the Loan from the proceeds of a Special Mezzanine Loan Advance as described above, and that such provisions shall not be modified or waived without Mezzanine Loan Administrative Agent’s and Mezzanine Lender’s prior written consent.

LOAN AGREEMENT – Page 30

<div align='center'>I-1704</div>

(c) If Borrower is unable to satisfy any of the conditions set forth in clause (c) of the definition of “” as of the Maturity Date or if a Cash Management Event has occurred because the Property has failed to maintain the minimum Debt Yield or Debt Service Coverage Ratio set forth in the definition of Cash Management Event, Borrower shall have the right to prepay a portion of the Outstanding Principal Balance simultaneous with the extension of such Maturity Date or to avoid or cure a Cash Management Event in the amount necessary to reduce the Outstanding Principal Balance pursuant to which the Debt Yield or Debt Service Coverage Ratio shall be calculated in order to satisfy such conditions or minimum Debt Yield and/or Debt Service Coverage Ratio, provided