Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1028

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1028
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 an Additional Advance, or (D) any Revenues;

(vi) failure to pay charges for labor or materials or other charges that create a lien on any portion of the Property (not including liens relating to capital improvements that were specifically approved by Administrative Agent and for which either (A) Administrative Agent did not require that Borrower deposit funds with Administrative Agent sufficient to pay for such work, or (B) sufficient amounts have been deposited with Administrative Agent to specifically pay for such work);

(vii) any security deposits, advance deposits or any other deposits collected with respect to the Property which are not delivered to Administrative Agent upon a foreclosure of the Property or transfer in lieu thereof, except to the extent any such security deposits were applied in accordance with the terms and conditions of any of the Leases prior to the occurrence of the Event of Default that gave rise to such foreclosure or transfer in lieu thereof and permitted hereunder;

(viii) failure of Borrower to purchase and maintain any Interest Rate Cap Agreement as required pursuant to this Agreement;

(ix) Borrower's failure to obtain and maintain the fully paid for Required Policies in accordance with attributable to the time that Borrower owns the Property (provided that Borrower shall not have liability pursuant to this to the extent that (A) the Property fails to generate sufficient Revenue during the prior twelve (12) month period to pay such Required Policies or (B) sufficient amounts have been deposited with Administrative Agent to specifically pay the same);

(x) Borrower's failure to pay all Property Taxes attributable to the time that Borrower owns the Property prior to the same becoming delinquent (provided that Borrower shall not have liability pursuant to this to the extent that (A) the Property fails to generate sufficient Revenue during the prior twelve (12) month period to pay such Property Taxes or (B) sufficient amounts have been deposited with Administrative Agent to specifically pay the same);

(xi) the failure of Borrower or any Required SPE Entity to be a Special Purpose Entity;

(xii) intentionally omitted;

(xiii) any default by Borrower under, or failure by Borrower to comply with, any of the provisions of the Condominium Documents;

(xiv) the occurrence of any Transfer in violation of this Agreement; or

(xv) the exercise by any party to the 1992 Lease Agreement of the right to access or enter onto the Property for the purposes set forth in such 1992 Lease Agreement.

(c) . Notwithstanding anything to the contrary in this Agreement, the Notes or any of the Loan Documents,