Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1515

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1515
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 to contest, negate or disaffirm any action of the General Partner in connection with any such dealing. In no event shall any Person dealing with the General Partner or its representatives be obligated to ascertain that the terms of this Agreement have been complied with or to inquire into the necessity or expedience of any act or action of the General Partner or its representatives. Each and every certificate, document or other instrument executed on behalf of the Partnership by the General Partner or its representatives shall be conclusive evidence in favor of any and every Person relying thereon or claiming thereunder that (a) at the time of the execution and delivery of such certificate, document or instrument, this Agreement was in full force and effect, (b) the Person executing and delivering such certificate, document or instrument was duly authorized and empowered to do so for and on behalf of the Partnership, and (c) such certificate, document or instrument was duly executed and delivered in accordance with the terms and provisions of this Agreement and is binding upon the Partnership.

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I-1183</div>

Section 7.12. .

(a) The Partnership shall establish a committee (the “”), which shall be subordinate to the General Partner. The Investment Committee, shall be responsible for making all decisions and approvals, with respect to (i) potential Investments directly or indirectly by the Partnership in excess of $25 million (based on purchase price and estimated rehabilitation budget but excluding loan and closing costs), (ii) prior to the execution of definitive agreements related to any “build-to-rent” projects, (iii) any potential Investments directly or indirectly by the Partnership in geographic markets that the Partnership and its Subsidiaries do not own and operate one or more Properties as of the date of this Agreement, (iv) changes to previously approved "build-to-rent" budgets of ten percent (10%) or more, (v) hiring of third-party property managers and (vi) other matters as determined by the Board of Directors from time to time (any such determination, an “”). Manager, pursuant to the Management Agreement, may approve (i) any single home acquisition, (ii) potential Investments by the Partnership less than $25 million (based on purchase price and estimated rehabilitation budget but excluding loan and closing costs) and (iii) potential Investments by the Partnership for “build-to-rent” projects previously approved unless the budgeted land purchase and construction costs exceed the originally approved budget by ten percent (10%). The Investment Committee shall be initially comprised of four members, and the