Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2044

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2044
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 proxy. Every proxy shall be revocable at the pleasure of the Member executing it, such revocation to be effective upon the Company’s receipt of written notice of such revocation from the Member executing such proxy.

(d) Each meeting of the Members shall be conducted by the Manager or such other Person as the Manager may appoint pursuant to such rules for the conduct of the meeting as the Manager or such other Person deems appropriate. Without limitation, meetings of Members may be conducted in the same manner as meetings of the unitholders of NHT and may be held at the same time, and as part of, meetings of the unitholders of NHT.

<div align='center'>ARTICLE 15.
SPE RESTRICTIONS</div>

Section 15.1.

Pursuant to that certain Mezzanine Loan Agreement (as may be amended from time to time, the “”), dated of even date herewith, among the Company, Delphi CRE Funding, LLC, and the other lenders from time to time a party thereto (collectively, “”), and ACORE Capital Mortgage, L.P., in its capacity as Administrative Agent for and on behalf of Lender (together with its successors and assigns, “”), the Company is obtaining a loan (the “”) from Lender (with defined terms used in this but not otherwise defined in this Agreement having the meaning set forth in the Loan Agreement, and the definition of “Property” as used in this shall have the meaning set forth in the Loan Agreement). Notwithstanding any other provisions of the Certificate, this Agreement or any other document governing the formation, management and operation of the Company, the Company, since the date of its formation and at all times prior to, on and after the date thereof, has complied with and shall at all times comply with the following requirements until such time as the obligations under the Loan Agreement shall be paid and performed in full:

<div align='center'>58

I-1619</div>

(a) The Company was, is and will be formed solely for the purpose of, directly or indirectly through the Company’s Subsidiaries, acquiring, developing, owning, holding, selling, leasing, transferring, exchanging, financing, managing and operating the Property, and transacting lawful business that is incident, necessary and appropriate to accomplish the foregoing;

(b) The Company has not been, is not, and will not be engaged in any business unrelated to acquiring, developing, owning, holding, selling, leasing, transferring, exchanging, financing,