Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2007

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2007
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 Class B Units in advance of the Conversion Date; , , that the redemption of such Class B Units by the Company shall in no event take place until after the Conversion Date.

(c) . Subject to , the Manager, on behalf of the Company, may cause any number of Eligible LTIP Units held by an LTIP Unitholder to be converted (a “”) into an equal number of Class B Units, giving effect to all adjustments (if any) made pursuant to ; , , that the Manager, on behalf of the Company, may not cause Forced Conversion of any Eligible LTIP Units that would not at the time be eligible for conversion at the option of such LTIP Unitholder pursuant to . In order to exercise its right of Forced Conversion, the Manager on behalf of the Company, shall deliver a notice (a “”) in the form attached as to this Agreement to the applicable LTIP Unitholder not less than ten nor more than 60 days prior to the Conversion Date specified in such Forced Conversion Notice. A Forced Conversion Notice shall be provided in the manner provided in .

(d) . A conversion of Eligible LTIP Units for which the holder thereof has given a Conversion Notice or the Manager, on behalf of the Company, has given a Forced Conversion Notice shall occur automatically after the close of business on the applicable Conversion Date without any action on the part of such LTIP Unitholder, as of which time such LTIP Unitholder shall be credited on the books and records of the Company with the issuance as of the opening of business on the next day of the number of Class B Units issuable upon such conversion. After the

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conversion of Eligible LTIP Units as aforesaid, the Company shall deliver to such LTIP Unitholder, upon his or her written request, a certificate of the Manager certifying the number of Class B Units and remaining LTIP Units, if any, held by such person immediately after such conversion.

Section 4.8.

As long as NHT Operating Partnership GP, LLC is the Manager of the Company, NHT Holdings shall have the right to purchase all of the equity interests of the Manager at any time (the “”) at a purchase price equal to $100 (the “”). NHT Holdings shall exercise the Call Option by delivering a written notice (the “”) to Blair in accordance with the notice provisions of this Agreement, specifying that it is electing to exercise the Call Option.