Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1980

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1980
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56

Section 15.1. SP 56

Section 15.2. Repayment of the Loan. 63

ARTICLE 16. GENERAL PROVISIONS 63

Section 16.1. Addresses and Notice. 63

Section 16.2. Titles and Captions. 63

Section 16.3. Pronouns and Plurals. 63

Section 16.4. Further Action. 63

Section 16.5. Binding 63

Section 16.6. Creditors. 64

Section 16.7. Waiver. 64

Section 16.8. Counterparts. 64

Section 16.9. Applicable Law; Consent to Jurisdiction; Waiver of Jury Trial. 64

Section 16.10. Invalidity of Provisions. 65

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I-1560

(continued)</div>

Section 16.12. Legal Counsel Relationships. 65

Exhibit A – Members’ Contributions and Membership Interests A-1

Exhibit B – Capital Account Maintenance B-1

Exhibit C – Special Allocation Rules; Other Tax Matters C-1

Exhibit D – Notice of Redemption D-1

Exhibit E – Constructive Ownership Definition E-1

Exhibit F – Schedule of Member’s Ownership with Respect to Tenants F-1

Exhibit G – Notice of Election by Member to Convert LTIP Units into Class B Units G-1

Exhibit H – Notice of Election by Company to Force Conversion of LTIP Units into Class B Units H-1

<div align='center'>iv

I-1561

AMENDED AND RESTATED
LIMITED LIABILITY COMPANY AGREEMENT
OF
NHT OPERATING PARTNERSHIP, LLC</div>

THIS AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF NHT OPERATING PARTNERSHIP, LLC (the “”), dated as of January 8, 2019, is entered into by and among the Manager, the Persons that are party hereto from time to time and whose names are set forth on attached hereto (as it may be amended from time to time) and for the limited purposes set forth herein and not as Members of the Company, (1) Nexpoint Hospitality Trust (“”) and (2) Jesse Blair, the sole equityholder of the initial Manager.

WHEREAS, the Company was formed on December 4, 2018 (