Common use of Distribution and Servicing Fees Clause in Contracts

Distribution and Servicing Fees. Dealer shall be entitled to receive from Distributor distribution fees and servicing fees, if any, in the amount set forth on Exhibit A hereto. These fees, if payable, will be calculated monthly and paid quarterly based on the value of Shares at the end of each month in a calendar quarter, with payment occurring within 30 days after the end of each calendar quarter. Notwithstanding the foregoing, Distributor shall have no obligation to pay any compensation described in 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 to Dealer for such payments is limited solely to the Related Compensation. Distributor agrees to use its commercially reasonable efforts to secure all Related Compensation from the Fund. Distributor shall pay any compensation described in this Section 4(b) to Dealer in respect of Shares held by Dealer Shareholders for as long as Dealer Shareholders hold 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 be entitled to receive from Distributor distribution fees and servicing fees, if any, in the amount set forth on Exhibit A hereto. [These fees, if payable, will be calculated monthly and paid quarterly based on the value of Shares at the end of each month in a calendar quarter, with payment occurring within 30 days after the end of each calendar quarter. 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 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 to Dealer for such payments is limited solely to the Related Compensation. Distributor agrees to use its commercially reasonable efforts to secure all Related Compensation from the Fund. Distributor shall pay any compensation described in this Section 4(b) to Dealer in respect of Shares held by Dealer Shareholders for as long as Dealer Shareholders hold 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 be entitled to receive from Distributor distribution fees and servicing fees, if any, in the amount set forth on Exhibit A hereto. These fees, if payable, will be calculated monthly and paid quarterly monthly based on the value of Shares at the end of each month in a calendar quartermonth, with payment occurring within 30 34 days after the end of each calendar quartermonth. Notwithstanding the foregoing, Distributor shall have no obligation to pay any compensation described in 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 to Dealer for such payments is limited solely to the Related Compensation. Distributor agrees to use its commercially reasonable efforts to secure all Related Compensation from the Fund. Distributor shall pay any compensation described in this Section 4(b) to Dealer in respect of Shares held by Dealer Shareholders for as long as Dealer Shareholders hold 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 be entitled to receive from Distributor distribution fees and servicing fees, if any, in the amount set forth on Exhibit A hereto. These fees, if payable, will be calculated monthly and paid quarterly monthly based on the value of Shares at the end of each month in a calendar quartermonth, with payment occurring within 30 34 days after the end of each calendar quartermonth. Notwithstanding the foregoing, Distributor shall have no obligation to pay any compensation described in 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 to Dealer for such payments is limited solely to the Related Compensation. Distributor agrees to use its commercially reasonable efforts to secure all Related Compensation from the Fund. Distributor shall pay any compensation described in this Section 4(b) to Dealer in respect of Shares held by Dealer Shareholders for as long as Dealer Shareholders hold 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.