Company: NXDT
Filing Date: 2025-01-30
Form Type: 424B5
Source: 0001437749-25-002263
Chunk: 54

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-30
Form: 424B5
Chunk 54
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 | amend the Declaration in any way that would change any rights with respect to any shares of the Company by reducing any stated amount payable thereon in preference over all other classes or series of shares upon liquidation of the Company or by eliminating any voting rights pertaining thereto without (A) the approval of 75% of the holders of shares of beneficial interest of each affected class or series outstanding, voting as separate classes or series, unless (B) such amendment has been approved by 80% of the Company's board of trustees, in which case such amendment will require (i) the vote of a majority of shares present in person or represented by proxy and entitled to vote thereon, at a meeting where the holders of a majority of our shares are present in person or represented by proxy (a "Quorum") or (ii) if a separate vote of one or more classes or series of shares is required on any matter, the affirmative vote of a majority of the shares of beneficial interest of such class or series present in person or represented by proxy at a meeting where a Quorum is present. |

Notwithstanding the preceding sentence, with respect to the occurrence of a merger, consolidation, or other event, as such term is defined in the Series B Statement of Preferences, so long as any Series B Preferred Shares remain outstanding with the terms thereof materially unchanged or the holders of Series B Preferred Shares receive shares of, or options, warrants or rights to purchase or subscribe for shares of, beneficial interests or other securities with rights, preferences, privileges and voting powers substantially similar, taken as a whole, to those of the Series B Preferred Shares, then the occurrence of any such event will not be deemed to materially and adversely affect the rights, privileges or voting powers of the holders of Series B Preferred Shares or the holders thereof. In addition, any increase in the amount of authorized Series B Preferred Shares or the creation or issuance or increase in the amounts authorized of any other class or series of our Parity Shares or Junior Shares, will not be deemed to materially and adversely affect the rights, preferences, privileges or voting powers of the Series B Preferred Shares or the holders thereof. In addition, the voting provisions above will not apply if, at or prior to the time when the act with respect to which the vote would otherwise be required would occur, we have redeemed all outstanding Series B Preferred Shares.

In any matter in which the holders of Series B Preferred Shares are entitled to vote separately as a single class, each such holder will have the right to one vote for each