Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2101

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2101
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 or otherwise modified from time to time.

” means JPMorgan Chase Bank, N.A. or any successor or permitted assigns thereof permitted hereunder.

” means that certain Closing Certificate executed by Borrower as of the date hereof.

” means the date of this Agreement.

’’ means the Internal Revenue Code of 1986, as amended, as it may be further amended from time to time, and any successor statutes thereto, and applicable U.S. Department of Treasury regulations issued pursuant thereto in temporary or final form.

” means the possession, directly or indirectly, of the power to direct or cause the direction of management, policies or activities of a Person, whether through ownership of voting securities, by contract or otherwise. “” and “” shall have correlative meanings.

” means the Outstanding Principal Balance, together with all interest accrued and unpaid thereon, the Prepayment Premium, and all other sums due from I3orrower under the Loan Documents.

LOAN AGREEMENT – Page 5

<div align='center'>I-1679</div>

” means, with respect to any particular period of time. scheduled principal and/or interest payments due under this Agreement.

” means a ratio as of the date of calculation in which:

(a) the numerator is the UNOI; and

(b) the denominator is the sum of (i) the projected aggregate Debt Service that would become due during the twelve (12) calendar month period immediately following the date of calculation, calculated assuming that (A) the Interest Rate will be the Interest Rate then in effect for the Interest Period in which such calculation occurs, and (B) the Outstanding Principal Balance remains the same during such 12-month period, plus (ii) the projected aggregate Mezzanine Loan Debt Service that would become due during the twelve (12) calendar month period immediately following the date of calculation, calculated assuming that (A) the Interest Rate (as defined in the Mezzanine Loan Agreement) will he the Interest Rate (as defined in the Mezzanine Loan Agreement) then in effect for the Interest Period in which such calculation occurs, and (B) the Mezzanine Loan Outstanding Principal Balance remains the same during such 12-month period.

” means, as of any date of determination, the amount (expressed as a percentage) determined by dividing the UNOI by the sum of (a) the Outstanding Principal Balance, plus (b) the Mezzanine Loan Outstanding Principal Balance.

” means, with respect to any applicable matter for which Administrative Agent’s