Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2143

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2143
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 Management Event, from and after which time (until Administrative Agent (or its Servicer) has notified Clearing Bank that no Cash Management Event exists), on each Business Day all such funds shall be transferred to the Cash Management Account (or as otherwise directed by Administrative Agent or its Servicer). So long as no Event of Default shall have occurred and be continuing (and thereafter at Administrative Agent’s sole option and discretion) funds on deposit in the Cash Management Account (other than any (x) amounts that have been deposited into the Clearing Account that Borrower can reasonably demonstrate consist of gratuities paid to employees at the Property or sales, use, or occupancy Taxes payable by Borrower to any applicable Governmental Authority, which amounts shall be disbursed to Borrower so long as no Event of Default exists, (y) Revenues paid more than one (1) month in advance (“”), which shall be retained in the Cash Management Account until payment thereof is due under the applicable Lease, and (z) Extraordinary Lease Payments, which shall be held and disbursed in accordance with Section 3.2(e) below)), shall be applied on each Payment Date in the following amounts and order of priority:

(a) to the Tax Reserve Account the amount required pursuant to Section 3.2(a) hereof

LOAN AGREEMENT – Page 36

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(b) , to the Insurance Reserve Account the amount required pursuant to Section 3.2(b) hereof;

(c) to (or as directed by) Administrative Agent the Monthly Payment Amount;

(d) , to the other Reserve Accounts the amounts required pursuant to the applicable clauses in Section 3.2 hereof;

(e) to Administrative Agent to pay any other amounts then due Administrative Agent and/or Lenders under the Loan Documents;

(f) , to Borrower for payments of monthly Operating Expenses in the amount described in the Approved Annual Budget for the month in which such Payment Date occurs (less the amount of any Excess Disbursement received by Borrower for any prior Payment Date that has not already been deducted pursuant to this the amount of which Excess Disbursement (if any) shall be certified to Administrative Agent in writing by Borrower) (, at Administrative Agent’s discretion, Administrative Agent shall reduce the amount to be disbursed to Borrower pursuant to this by the amount that Borrower demonstrates to Administrative Agent’s satisfaction that Borrower has paid (or will pay) from its own funds toward the payment of such monthly Operating Expenses