Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2204

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2204
---
 deposits were applied in accordance with the terms and conditions of any of the Leases or the same relate to hotel bookings that have actually occurred (or with respect to which the booking deposit has been forfeited) prior to the occurrence of the Event of Default that gave rise to such foreclosure or action 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 Section 5.1.11 attributable to the time that Borrower owns the Property (provided that Borrower shall not have liability pursuant to this clause (ix) 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 clause (x) 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 to be a Special Purpose Entity;

(xii) (A) any unamortized “” required to be repaid under any Franchise Agreement or (B) any termination payment, liquidated damages, or other fees or charges payable pursuant to any Franchise Agreement in the event that Administrative Agent elects to terminate a Franchise Agreement in connection with any foreclosure, transfer-in-lieu or other realization on the Property;

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

(xiv) Borrower’s failure to pay any and all documentary stamp, non-recurring intangible personal property, transfer, recordation or other taxes imposed at any time by the State of Florida or the county in Florida in which the Security Instrument is recorded, relating to the Security Instrument or any of the other Loan Documents; and/or

LOAN AGREEMENT – Page 80

<div align='center'>I-1754</div>

(xv) the failure of the individual Property commonly known as the St. Petersburg, Florida Marriott to be in compliance with any local zoning ordinance of the City of Pinellas Park due to the number