SEC Contract Filing

Filing Date: 2018-02-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>nsi-n18xkexhibit103.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="sC5476E5CFF88B20E7575573982C43EDE"></a></div><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.3</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXECUTION VERSION</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">MANAGEMENT SERVICES AGREEMENT</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THIS MANAGEMENT SERVICES AGREEMENT</font><font style="font-family:inherit;font-size:10pt;">&#32;(this&#160;&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;), dated as of this 31st day of January, 2018, is made and entered into by and among N1 Liquidating Trust, a Maryland statutory trust (the&#160;&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Trust</font><font style="font-family:inherit;font-size:10pt;">&#8221;), N1 Hendon Holdings,&#160;LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Holdco</font><font style="font-family:inherit;font-size:10pt;">&#8221;), and CNI NSI Advisors,&#160;LLC, a Delaware limited liability company.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">RECITALS</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WHEREAS, </font><font style="font-family:inherit;font-size:10pt;">the board of directors of NorthStar Real Estate Income Trust Inc., a Maryland corporation (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">NorthStar I</font><font style="font-family:inherit;font-size:10pt;">&#8221;), and the stockholders of NorthStar I have approved the merger (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">NorthStar I Merger</font><font style="font-family:inherit;font-size:10pt;">&#8221;) of NorthStar I with and into Colony NorthStar Credit Real Estate, Inc., a Maryland corporation (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">CLNC</font><font style="font-family:inherit;font-size:10pt;">&#8221;), and the other transactions contemplated by the Amended and Restated Master Combination Agreement, dated as of November 20, 2017 (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Combination Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;), by and among NorthStar I, NorthStar Real Estate Income Trust Operating Partnership, LP, a Delaware limited partnership and the operating partnership of NorthStar I (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">NorthStar I OP</font><font style="font-family:inherit;font-size:10pt;">&#8221;), Colony Capital Operating Company, LLC (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">CLNS OP</font><font style="font-family:inherit;font-size:10pt;">&#8221;), a Delaware limited liability company and the operating company of Colony NorthStar, Inc., a Maryland corporation, NRF RED REIT Corp., a Maryland corporation and an indirect subsidiary of CLNS OP, NorthStar Real Estate Income II, Inc., a Maryland corporation (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">NorthStar II</font><font style="font-family:inherit;font-size:10pt;">&#8221;), NorthStar Real Estate Income Operating Partnership II, LP, a Delaware limited partnership and the operating partnership of NorthStar II, CLNC, and Credit RE Operating Company, LLC, a Delaware limited liability company and wholly owned subsidiary of CLNC, which other transactions include a plan for the distribution to the stockholders of NorthStar I of the Excluded Asset (as defined below), in accordance with Maryland law (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Plan</font><font style="font-family:inherit;font-size:10pt;">&#8221;), prior to the NorthStar I Merger;</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WHEREAS,</font><font style="font-family:inherit;font-size:10pt;">&#32;the Plan contemplates that prior to consummation of the NorthStar I Merger, NorthStar I OP will transfer, or cause to be transferred, the Excluded Asset to a limited liability company formed to hold, service and receive the proceeds of any sale of the Excluded Asset;</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WHEREAS,</font><font style="font-family:inherit;font-size:10pt;">