Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 783

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 783
---
 “”);

WHEREAS, the Original Agreement was amended and restated effective as of November 1, 2018 (the “”) and the First A&R Agreement was subsequently amended by (i) that certain First Amendment thereto, dated as of November 1, 2018, (ii) that certain Second Amendment thereto, dated as of May 4, 2020 and (iii) that certain Third Amendment thereto, dated as of October 5, 2020; and

WHEREAS, the General Partner and the Limited Partners desire to amend and restate the First A&R Agreement, as amended, in its entirety as set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants herein contained, and other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:

<div align='center'>ARTICLE 1.
DEFINED TERMS</div>

The following definitions shall be for all purposes, unless otherwise clearly indicated to the contrary, applied to the terms used in this Agreement.

” means the 2018 Long Term Incentive Plan of the Company, as hereafter amended and/or restated from time to time.

” of any Contributed Property means the fair market value of such property or other consideration at the time of contribution, as determined by the General Partner, following direction and approval from the Board of Directors, using such reasonable method of valuation as the Board of Directors may adopt. Subject to hereof, the General Partner shall, after direction and approval from the Board of Directors, use such method as it deems reasonable and appropriate to allocate the aggregate of the 704(c) Values of Contributed Properties in a single or integrated transaction among the separate properties on a basis proportional to their respective fair market values.

<div align='center'>1

I-535</div>

” means the Delaware Revised Uniform Limited Partnership Act, 6 . C. §17-101, ., as it may be amended from time to time, and any successor to such statute.

” has the meaning set forth in .

” means a Person admitted to the Partnership as a Limited Partner pursuant to hereof and who is shown as such on the books and records of the Partnership.

” means the Capital Account maintained for each Partner as of the end of each Partnership taxable year (a) increased by any amounts which such Partner is obligated to restore pursuant to any provision of this Agreement or is deemed to be obligated to restore pursuant to the penultimate sentences of