Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1956

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1956
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 continuing compliance with IFRS; or (ii) to ensure the Units are classified as equity for purposes of IFRS; |

| (h) | which, in the opinion of the Trustees, are necessary or desirable for the Trust to qualify for a particular status under, or as a result of changes in, taxation or other laws, or the interpretation of such laws, including to qualify for the definition of “real estate investment trust” in the Tax Act or to qualify for the definition of “real estate investment trust” in the Code or to otherwise prevent the Trust or any of its subsidiaries from becoming subject to SIFT Tax; and |

| (i) | for any purpose (except one in respect of which a Unitholder vote is specifically otherwise required) which, in the opinion of the Trustees, is not prejudicial to Unitholders and is necessary or desirable. |

but notwithstanding the foregoing, no such amendment shall modify the right to vote attached to any Unit or reduce the equal undivided interest in the property of the Trust or the entitlement to distributions from the Trust provided hereunder (including those provided for in Article 12 and Article 16) represented by any Unit without the consent of the Unitholders provided in accordance with Sections 14.2 and 14.3, as applicable.

1.2 Amendments by Unitholders

Subject to Sections 14.3 and 14.4, this Declaration of Trust may be amended by the vote of a majority of the votes cast at a meeting of Unitholders called for that purpose.

1.3 Approval by Special Resolution

None of the following shall occur unless the same has been duly approved by a Special Resolution passed at a meeting of Unitholders:

| (a) | any amendment to this Section 14.3; |

| (b) | an exchange, reclassification or cancellation of all or a part of the Units; |

| (c) | the addition, change or removal of the rights, privileges, restrictions or conditions attached to the Units, including: |

| (i) | the removal or change of rights to distributions; |

| (ii) | the addition or removal of or change to conversion privileges, options, voting, transfer or pre-emptive rights; or |

| (iii) | the reduction or removal of a distribution preference or liquidation preference; |

| (d) | any constraints on the issue, transfer or ownership of Units or the change or removal of such constraint; |

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