Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2195

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2195
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 with any other Person or such Person’s Bankruptcy Action regardless as to the existence of such breach, which opinion shall be acceptable to Administrative Agent;

(h) if Borrower breaches any of the negative covenants contained in Section 5.2 hereof; , the same shall not be an Event of Default if (i) such breach was not knowingly or intentionally made, (ii) Lender has suffered no material Loss on account thereof (or Borrower shall have reimbursed Lender for the amount of such Loss) nor has the same resulted in a Material Adverse Effect, (iii) such breach can be cured, and (iv) such breach has been so cured within thirty (30) days after the earlier of (A) the date on which Borrower first has actual knowledge that such breach exists, and (B) the date on which Administrative Agent first notifies Borrower that such breach exists);

(i) if Borrower breaches any of its covenants contained in Section 5.1.6 hereof and such breach continues for a period of ten (10) Business Days following Administrative Agent’s notice to Borrower of the same;

(j) if Guarantor breaches any of its net worth or liquidity requirements under the Loan Documents;

(k) if Borrower fails to terminate any applicable Management Agreement if requested by Administrative Agent (when Administrative Agent has the right to so require a termination of

LOAN AGREEMENT – Page 73

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the Management Agreement pursuant to this Agreement) within five (5) Business Days’ after Administrative Agent’s request therefor;

(l) if a default has occurred and continues beyond any applicable cure period under any Franchise Agreement if such default permits the Franchisor thereunder to terminate or cancel the applicable Franchise Agreement, or if Borrower allows or permits the term of any Franchise Agreement to expire or lapse (unless a replacement Franchise Agreement has been entered into in accordance with the terms and conditions of this Agreement);

(m) if a default has occurred and continues beyond any applicable cure period under any Management Agreement if such default permits the Manager thereunder to terminate or cancel the applicable Management Agreement, or if Borrower allows or permits the term of the Management Agreement to expire or lapse (unless a replacement Management Agreement has been entered into in accordance with the terms and conditions of this Agreement);

(n) if Borrower ceases to do business as a hotel at any Property or terminates such business for any reason whatsoever (other than temporary cessation in connection with any