Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2063

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2063
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, in such Person’s capacity as a member of the Company.

(c) Section 7.2 of the Operating Agreement is deleted and replaced in its entirety with the following:

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NHT Holdings shall have the sole right to remove the Manager at any time, with or without cause. The Manager shall have the right to resign the position of Manager at any time. Upon the removal or resignation of the Manager, (a) the Manager shall forfeit its Class B Units without consideration to the extent the Call Right contemplated by is not exercised and (b) a replacement Manager shall be appointed by NHT Holdings; that such replacement Manager is a “special purpose entity” and will be issued Class B Units, in such amounts as determined by NHT Holdings, and become a Member of the Company. Notwithstanding anything herein to the contrary, upon such forfeiture of its Class B Units, the Manager shall withdraw as a Member of the Company without any additional action by any Person and execute any documentation deemed necessary by the Company to evidence such a withdrawal.

(d) Section 12.2 of the Operating Agreement is deleted and replaced in its entirety with the following:

Subject to , the Manager shall take all steps necessary and appropriate under the Act to amend the books and records of the Company for the admission to the Company of any member, and, if required by law, shall prepare and file an amendment to the Certificate and may for this purpose exercise the power of attorney granted pursuant to .

(e) Section 14.1(b) of the Operating Agreement is deleted and replaced in its entirety with the following:

Notwithstanding , this Agreement shall not be amended without the consent of each Member materially and adversely affected if such amendment would (i) modify the limited liability of a Member in a manner materially adverse to such Member, (ii) alter rights of such Member to receive distributions pursuant to or , or the allocations specified in (except as permitted pursuant to ) in a manner materially adverse to such Member, (iii) increase or change capital contributions required by , (iv) alter the rights of NHT Holdings to remove and replace the Manager under , (v) amend this , or (vi) alter the rights of NHT Holdings pursuant to ; , , that the consent of each Member materially and adversely affected

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shall not be required for any amendment or action that affects all Members holding the same class or series of Membership Units on a uniform or pro rata