Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1990

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1990
---
 liquidation of the Company), including but not limited to

<div align='center'>9

I-1570</div>

the net gain realized in connection with an adjustment to the Carrying Value of Company assets under of attached hereto.

” means any net loss realized in connection with the actual or hypothetical sale of all or substantially all of the assets of the Company (including upon the occurrence of any event of liquidation of the Company), including but not limited to the net loss realized in connection with an adjustment to the Carrying Value of Company assets under of attached hereto.

” has the meaning set forth in .

” has the meaning set forth in .

” has the meaning set forth in .

” means a Member that holds LTIP Units.

” means a Membership Unit which is designated as an LTIP Unit and which has the rights, preferences and other privileges designated in and elsewhere in this Agreement in respect of holders of LTIP Units. The allocation of LTIP Units among the Members shall be set forth on , as it may be amended and/or restated from time to time. Until such time as the LTIP Units are converted to Class B Units pursuant to this Agreement, LTIP Units shall be a non-voting security.

” means a Person serving as a manager of the Company pursuant to . By executing this Agreement, NREO designates NHT Operating Partnership GP, LLC as the initial Manager. For the avoidance of doubt, the term “Manager” as used in this Agreement shall not include the “Independent Managers” (as such term is defined herein).

” means NHT Holdings, NREO and the initial Manager and any other Person named as a member of the Company in attached hereto, as such Exhibit may be amended from time to time, or any Substituted Member or Additional Member, in such Person’s capacity as a member of the Company.

” means an ownership interest in the Company held by a Member, including a holder of LTIP Units, to the extent the Manager has awarded LTIP Units pursuant to an Equity Incentive Plan, and includes any and all benefits to which the holder of such interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Membership Interest may be (but is not required to be) expressed as a number of Membership Units.

” means a fractional, undivided share of the Membership Interests of all Members issued pursuant to and and includes Class A Units, the Class B Units and