Common use of Distribution and Servicing Fees Clause in Contracts

Distribution and Servicing Fees. Dealer shall also be entitled to receive from Distributor distribution fees and servicing fees at the annual rates listed in Exhibit C for the aggregate value of Shares per class held by Dealer Shareholders. These fees, if payable, will be calculated and paid monthly at an annualized rate of 0.25% of the net assets of the Fund, with payment occurring within 30 days after the end of each month. Notwithstanding the foregoing, Distributor shall have no obligation to pay any compensation described in the preceding sentence until Distributor receives the related compensation from the Fund in the form of an asset-based distribution fee and shareholder servicing fee (the “Related Compensation”), and Distributor’s obligation or liability to Dealer for such payments is limited solely to the Related Compensation and Dealer hereby waives any and all rights to receive payment of Related Compensation due until such time as Distributor is in receipt of such Related Compensation from the Fund. For purposes of this Agreement, a “Dealer Shareholder” shall include any person or entity introduced by Dealer to the Fund during the term of this Agreement, which invests in Shares. Distributor shall pay any compensation described in this Section 4(b) to Dealer in respect of the Shares held by Dealer Shareholders for as long as Dealer Shareholders hold those Shares through an account maintained by Dealer Shareholder at Dealer, subject to the limitations set forth in Section 4(e).

Distribution and Servicing Fees. Dealer shall also be entitled to receive from Distributor distribution fees and servicing fees at fees, if any, in the annual rates listed in amount set forth on Exhibit C for the aggregate value of Shares per class held by Dealer ShareholdersA hereto. These fees, if payable, will be calculated monthly and paid monthly quarterly based on the value of Shares at an annualized rate the end of 0.25% of the net assets of the Fundeach month in a calendar quarter, with payment occurring within 30 days after the end of each monthcalendar quarter. Notwithstanding the foregoing, Distributor shall have no obligation to pay any compensation described in the preceding sentence Exhibit A until Distributor receives the related compensation from the Fund in the form of an asset-based distribution fee and shareholder servicing fee (the “Related Compensation”), and Distributor’s obligation or liability to Dealer for such payments is limited solely to the Related Compensation and Dealer hereby waives any and Compensation. Distributor agrees to use its commercially reasonable efforts to secure all rights to receive payment of Related Compensation due until such time as Distributor is in receipt of such Related Compensation from the Fund. For purposes of this Agreement, a “Dealer Shareholder” shall include any person or entity introduced by Dealer to the Fund during the term of this Agreement, which invests in Shares. Distributor shall pay any compensation described in this Section 4(b) to Dealer in respect of the Shares held by Dealer Shareholders for as long as Dealer Shareholders hold those Shares through an account maintained by the Dealer Shareholder at the Dealer, subject to the limitations set forth in Section 4(e). Distributor agrees that payments to Dealer described in this Section 4(b) shall, upon the direction of Dealer, be paid on behalf of Dealer directly to affiliates of Dealer which serve as Dealer’s clearing brokers it being understood that such compensation will be paid to Dealer by the clearing broker for Dealer’s provision of services hereunder.

Distribution and Servicing Fees. Dealer shall also be entitled to receive from Distributor distribution fees and servicing fees at fees, if any, in the annual rates listed in amount set forth on Exhibit C for the aggregate value of Shares per class held by Dealer ShareholdersA hereto. [These fees, if payable, will be calculated monthly and paid monthly quarterly based on the value of Shares at an annualized rate the end of 0.25% of the net assets of the Fundeach month in a calendar quarter, with payment occurring within 30 days after the end of each month. calendar quarter.]2 Notwithstanding the foregoing, Distributor shall have no obligation to pay any compensation 2 Note: to be included for Blackstone Real Estate Income Fund II only. described in the preceding sentence Exhibit A until Distributor receives the related compensation from the Fund in the form of an asset-based distribution fee and shareholder servicing fee (the “Related Compensation”), and Distributor’s obligation or liability to Dealer for such payments is limited solely to the Related Compensation and Dealer hereby waives any and Compensation. Distributor agrees to use its commercially reasonable efforts to secure all rights to receive payment of Related Compensation due until such time as Distributor is in receipt of such Related Compensation from the Fund. For purposes of this Agreement, a “Dealer Shareholder” shall include any person or entity introduced by Dealer to the Fund during the term of this Agreement, which invests in Shares. Distributor shall pay any compensation described in this Section 4(b) to Dealer in respect of the Shares held by Dealer Shareholders for as long as Dealer Shareholders hold those Shares through an account maintained by the Dealer Shareholder at the Dealer, subject to the limitations set forth in Section 4(e). Distributor agrees that payments to Dealer described in this Section 4(b) shall, upon the direction of Dealer, be paid on behalf of Dealer directly to affiliates of Dealer which serve as Dealer’s clearing brokers it being understood that such compensation will be paid to Dealer by the clearing broker for Dealer’s provision of services hereunder.

Distribution and Servicing Fees. Dealer Intermediary shall also be entitled to receive from Distributor distribution fees and servicing fees at the annual rates listed in Exhibit C the Prospectus for the aggregate value of Shares per class held by Dealer Intermediary Shareholders. These fees, if payable, will be calculated and paid monthly at an annualized rate of 0.25% of based on the net assets of the Fund, with payment occurring within 30 days after the end of each month. Notwithstanding the foregoing, Distributor shall have no obligation to pay any compensation described in the preceding sentence until Distributor receives the related compensation from the Fund in the form of an asset-based distribution fee and shareholder servicing fee (the “Related Compensation”), and Distributor’s obligation or liability to Dealer Intermediary for such payments is limited solely to the Related Compensation and Dealer Intermediary hereby waives any and all rights to receive payment of Related Compensation due until such time as Distributor is in receipt of such Related Compensation from the Fund. For purposes of this Agreement, a an “Dealer Intermediary Shareholder” shall include any person or entity introduced by Dealer Intermediary to the Fund during the term of this Agreement, which invests in Shares. Distributor shall pay any compensation described in this Section 4(b) to Dealer Intermediary in respect of the Shares held by Dealer Intermediary Shareholders for as long as Dealer Intermediary Shareholders hold those Shares through an account maintained by Dealer Intermediary Shareholder at DealerIntermediary, subject to the limitations set forth in Section 4(e).

Distribution and Servicing Fees. Dealer shall also be entitled to receive from Distributor distribution fees and servicing fees at the annual rates listed in Exhibit C B for the aggregate value of Shares per class held by Dealer Shareholders. These fees, if payable, will be calculated and paid monthly at an annualized rate of 0.25% of the net assets of the Fund, with payment occurring within 30 days after the end of each month. Notwithstanding the foregoing, Distributor shall have no obligation to pay any compensation described in the preceding sentence until Distributor receives the related compensation from the Fund in the form of an asset-based distribution fee and shareholder servicing fee (the “Related Compensation”), and Distributor’s obligation or liability to Dealer for such payments is limited solely to the Related Compensation and Dealer hereby waives any and all rights to receive payment of Related Compensation due until such time as Distributor is in receipt of such Related Compensation from the Fund. For purposes of this Agreement, a “Dealer Shareholder” shall include any person or entity introduced by Dealer to the Fund during the term of this Agreement, which invests in Shares. Distributor shall pay any compensation described in this Section 4(b) to Dealer in respect of the Shares held by Dealer Shareholders for as long as Dealer Shareholders hold those Shares through an account maintained by Dealer Shareholder at Dealer, subject to the limitations set forth in Section 4(e).

Distribution and Servicing Fees. Dealer Selling Agent shall also be entitled to receive from Distributor distribution fees and servicing fees at the annual rates listed in Exhibit C for the aggregate value of Shares per class held by Dealer Selling Agent Shareholders. These fees, if payable, will be calculated and paid monthly at an annualized rate of 0.25% of the net assets of the Fundmonthly, with payment occurring within 30 thirty (30) days after the end of each month. Notwithstanding the foregoing, Distributor shall have no obligation to pay any compensation described in the preceding sentence sentences until Distributor receives the related compensation from the Fund in the form of an asset-based distribution fee and shareholder servicing fee (the “Related Compensation”), and . Distributor’s obligation or liability to Dealer Selling Agent for such payments is limited solely to the Related Compensation Compensation, and Dealer Selling Agent hereby waives any and all rights to receive payment of Related Compensation due until such time as Distributor is in receipt of such Related Compensation from the Fund. For purposes of this Agreement, a “Dealer Selling Agent Shareholder” shall include any person or entity introduced by Dealer Selling Agent to the Fund during the term of this Agreement, which invests in Shares. Distributor shall pay any compensation described in this Section 4(b) to Dealer Selling Agent in respect of the Shares held by Dealer Selling Agent Shareholders for as long as Dealer Selling Agent Shareholders hold those Shares through an account maintained by Dealer Selling Agent Shareholder at DealerSelling Agent, subject to the limitations set forth in Section 4(e)) of this Agreement.

Distribution and Servicing Fees. Dealer shall also be entitled to receive from Distributor distribution fees and servicing fees at the annual rates listed in Exhibit C for the aggregate value of Shares per class held by Dealer Shareholders. These fees, if payable, fees will be calculated monthly and paid monthly quarterly based on the value of class of Shares at an annualized rate the end of 0.25% of the net assets of the Fundeach month in a calendar quarter, with payment occurring within 30 days after the end of each monthcalendar quarter. It is expected that this distribution and servicing fee will be comprised of the listed breakdown distribution fees and servicing fee paid by the Fund to the Distributor as listed in Exhibit C. Notwithstanding the foregoing, Distributor shall have no obligation to pay any compensation described in the preceding sentence until Distributor receives the related compensation from the Fund in the form of an asset-based distribution fee and shareholder servicing fee (the “Related Compensation”), and Distributor’s obligation or liability to Dealer for such payments is limited solely to the Related Compensation and Dealer hereby waives any and all rights to receive payment of Related Compensation due until such time as Distributor is in receipt of such Related Compensation from the FundCompensation. For purposes of this Agreement, a “Dealer Shareholder” shall include any person or entity introduced by Dealer to the Fund during the term of this Agreement, which invests in Sharesany class of the Fund. Distributor shall pay any compensation described in this Section 4(b) to Dealer in respect of the class of Shares held by Dealer Shareholders for as long as Dealer Shareholders hold those Shares through an account maintained by the Dealer Shareholder at the Dealer, subject to the limitations set forth in Section 4(e).

Distribution and Servicing Fees. Dealer shall also be entitled to receive from Distributor distribution fees and servicing fees at the annual rates listed in Exhibit C for the aggregate value of Shares per class held by Dealer Shareholders. These fees, if payable, will be calculated and paid monthly at an annualized rate of 0.25% of the net assets of the Fundmonthly, with payment occurring within 30 thirty (30) days after the end of each month. Notwithstanding the foregoing, Distributor shall have no obligation to pay any compensation described in the preceding sentence until Distributor receives the related compensation from the Fund in the form of an asset-based distribution fee and shareholder servicing fee (the “Related Compensation”), and . Distributor’s obligation or liability to Dealer for such payments is limited solely to the Related Compensation Compensation, and Dealer hereby waives any and all rights to receive payment of Related Compensation due until such time as Distributor is in receipt of such Related Compensation from the Fund. For purposes of this Agreement, a “Dealer Shareholder” shall include any person or entity introduced by Dealer to the Fund during the term of this Agreement, which invests in Shares. Distributor shall pay any compensation described in this Section 4(b) to Dealer in respect of the Shares held by Dealer Shareholders for as long as Dealer Shareholders hold those Shares through an account maintained by Dealer Shareholder at Dealer, subject to the limitations set forth in Section 4(e)) of this Agreement.