Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2122

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2122
---
uritization has occurred, each such Rating Agency which has rated the Securities in the Securitization.

” means a loan to an Affiliate of Borrower or secured by a parcel of real property, together with improvements thereon and personal property related thereto, that is “” (within the meaning of the definition of Significant Obligor) to the Property, which loan is included in a Securitization with the Loan (or any portion thereof or interest therein).

” means either a franchise, trademark and/or license agreement with a Qualified Franchisor that is acceptable to Administrative Agent in form and substance, together with a replacement comfort letter or tri-party agreement acceptable to Administrative Agent executed by Mortgage Borrower and such Qualified Franchisor; the acceptability of any Qualified Franchisor, replacement comfort letter or tri-party agreement is not to be unreasonably determined.

” means, collectively, the Tax Reserve Account, the Insurance Reserve Account, the FF&E Reserve Account, the Project Expenditure Reserve Account, the Excess Cash Flow Reserve Account, the Net Proceeds Reserve Account, and any other reserve or escrow account established under the Loan Documents from time to time.

” means, individually and collectively as the context may require, Immediate Repairs, Project Expenditures and FF&E Expenditures.

LOAN AGREEMENT – Page 21

<div align='center'>I-1695</div>

” means with respect to any Interest Period, the maximum rate of all reserve requirements (including all basic, marginal, emergency, supplemental, special or other reserves and taking into account any transitional adjustments or other schedule changes in reserve requirements during the Interest Period) which are imposed under Regulation D of the Board of Governors of the Federal Reserve System from time to time in effect (including any successor or other Regulation or official interpretation of said Board of Governors relating to reserve requirements applicable to member banks of the Federal Reserve System) on eurocurrency liabilities (or against any other category of liabilities which includes deposits by reference to which LIBOR is determined or against, any category of extensions of credit or other assets which includes loans by a non-United States office of a depository institution to United States residents or loans which charge interest at a rate determined by reference to such deposits) during the Interest Period and which are applicable to member banks of the Federal Reserve System with deposits exceeding one billion dollars, but without benefit or credit of proration, exemptions or offsets that might otherwise be available from time to time under the said Regulation D, to the extent the same is applicable