Company: NXDT
Filing Date: 2025-04-23
Form Type: S-4/A
Source: 0001437749-25-012810
Chunk: 197

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-23
Form: S-4/A
Chunk 197
---
 NXDT defaults in making payment of the Series A Redemption Price), all rights of the holders of the New Preferred Stock so called for redemption will cease and terminate except the right of the holders thereof to receive the Series A Redemption Price thereof and such shares will no longer be deemed Outstanding for any purpose. New NXDT will be entitled to receive, promptly after the date fixed for redemption, any cash in excess of the aggregate Series A Redemption Price of the New Series A Preferred Stock called for redemption on such date and any remaining Deposit Assets. Any assets so deposited that are unclaimed at the end of two years from such redemption date will, to the extent permitted by law, be repaid to New NXDT, after which the holders of the New Series A Preferred Stock so called for redemption will look only to New NXDT for payment of the Series A Redemption Price thereof. New NXDT will be entitled to receive, from time to time after the date fixed for redemption, any interest on the Deposit Assets so deposited.

On or after the redemption date, each holder of New Series A Preferred Stock that are subject to redemption will surrender such shares to New NXDT as instructed in the Series A Notice of Redemption and will then be entitled to receive the cash Series A Redemption Price, without interest.

In the case of any redemption of less than all of the shares of New Series A Preferred Stock pursuant to the New NXDT Charter, such redemption will be made pro rata from each holder of New Series A Preferred Stock in accordance with the respective number of shares held by each such holder on the record date for such redemption.

Notwithstanding the provisions with respect to redemption in the New NXDT Charter, New NXDT will not redeem any New Series A Preferred Stock unless all accumulated and unpaid dividends and distributions on all Outstanding New Series A Preferred Stock and other preferred stock ranking on a parity with the New Series A Preferred Stock with respect to dividends and distributions, including the New Series B Preferred Stock, for all applicable past Series A Dividend Periods (whether or not earned or declared by New NXDT) have been or are contemporaneously paid or declared and the Requisite Deposit with the Dividend Disbursing Agent has been made; provided, however, that the foregoing will not prevent the purchase or acquisition of Outstanding preferred stock pursuant to the successful completion of an otherwise lawful purchase or exchange offer made on the same terms to holders of all Outstanding New Series A Preferred Stock.

If New NXDT does not have funds legally available for the redemption of, or is otherwise unable to redeem,