Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2147

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2147
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th) of the amount estimated by Administrative Agent to be the cost to complete the property improvement plan required by the Franchisor, or if no property improvement plan is required by the Franchisor prior to the Payment Date in March, 2021, an amount estimated by Administrative Agent as necessary to improve the Hilton Garden Inn for future anticipated property improvement plans that will be required by the Franchisor after such Payment Date, less in each case any amounts then held in the Project Expenditure Reserve Account and not required to complete the Project with respect to the St. Petersburg Marriott. Amounts so deposited (or allocated from excess funds not necessary to complete the Project with respect to the St. Petersburg Marriott) with Administrative Agent shall be disbursed (if at all) as provided in Section 3.3 below only for the payment of Project Expenditures for Project Expenditures for the Hilton Garden Inn. Notwithstanding the foregoing, no monthly deposits shall be required for the Hilton Garden Inn (and provided no Event of Default has occurred and is continuing, any amounts previously collected with respect to the Hilton Garden Inn or excess funds allocated to the Hilton Garden Inn from deposits for the St. Petersburg Marriott shall be disbursed to Borrower) if the conditions to the release of NexPoint as a Guarantor set forth in the Guaranty have been satisfied and NexPoint has in fact been released from the Guaranty by Administrative Agent.

(d) . Borrower shall (i) on the Closing Date, deposit with Administrative Agent the applicable amount shown on Administrative Agent’s settlement statement (if any), and (ii) on each Payment Date commencing with the Payment Date in April,

LOAN AGREEMENT – Page 39

<div align='center'>I-1713</div>

2019 deposit with Administrative Agent an amount equal to one-twelfth (1/12th) of (x) for any Payment Date in 2019, for the St. Petersburg Marriott and the HWS Portfolio, two percent (2.0%), and for all other Properties, four percent (4.0%), (y) for any Payment Date in 2020, for the St. Petersburg Marriott, two percent (2.0%), and for each other Property, four percent (4.0%), and for any Payment Date thereafter, four percent (4.0%) for each Property, in each case of the annual Revenues as reported by Borrower for such Property in the reports required pursuant to Section 5.1.6 (provided that if