Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1495

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1495
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, redeemable or exchangeable for Partnership Units or REIT Shares; , , that the Partnership shall not incur any such Debt if such Debt is recourse to any Partner (unless the Partner otherwise agrees).

(d) Subject to and and Partnership Board Approval contemplated by , the General Partner may obtain any Additional Funds by causing the Partnership to incur Debt with the Company; , , that the Partnership shall not incur any such Debt if (i) a breach, violation or default of such Debt would be deemed to occur by virtue of the transfer of any Partnership Interest, or (ii) such Debt is recourse to any Partner (unless the Partner otherwise agrees).

Section 4.4. .

No Partner shall be entitled to interest on its Capital Contribution or on such Partner’s Capital Account.

Section 4.5. .

No Person shall have any preemptive, preferential or other similar right with respect to (a) additional Capital Contributions or loans to the Partnership or (b) the issuance or sale of any Partnership Units or other Partnership Interests.

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Section 4.6. .

(a) . The General Partner, following Partnership Board Approval as contemplated by , may from time to time issue LTIP Units to Persons who provide services to the Partnership, the General Partner or the Company, for such consideration as the Partnership Board Unitholders may determine to be appropriate, and admit such Persons as Limited Partners. LTIP Units may be issued as either “capital interests” for U.S. federal income tax purposes (each, a “”) or “profits interests” for U.S. federal income tax purposes (each, a “”), each within the meaning set forth in Rev. Proc. 93-27 and Rev. Proc. 2001-43 (and any similar Rev. Proc., regulatory or other similar guidance subsequently issued by the IRS, and the parties hereto agree to take no position or file any return for U.S. federal income tax purposes inconsistent with such treatment. Subject to the following provisions of this and the special provisions of , or as otherwise provided in this Agreement with respect to Profits LTIP Units, LTIP Units shall be treated as Class C Common Units, with all of the rights, privileges and obligations attendant thereto. For purposes of computing the Partners’ Percentage Interests, holders of LTIP Units shall be treated as Class C Common Unitholders and LTIP Units shall be treated as Class C Common Units. In particular, the Partnership shall maintain at all times a