Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1863

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1863
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 only to the extent that it would appear as a liability on the consolidated balance sheet of the Trust in accordance with IFRS; (B) obligations referred to in clauses (i) through (iii) exclude trade accounts payable, distributions payable to Unitholders and accrued liabilities arising in the ordinary course of business; (C) exchangeable or redeemable units or subscription receipts issued by the Trust or any of its subsidiaries (including for greater certainty, Redeemable Units) will not constitute indebtedness notwithstanding the classification of such securities as debt under IFRS; and (D) convertible debentures will constitute indebtedness to the extent of the principal amount thereof outstanding; |

| (bb) | “Independent Trustee” means any Trustee who is independent for purposes of National Policy 58-201 – Corporate Governance Guidelines; |

| (cc) | “Initial Contribution” has the meaning given thereto in the Recitals; |

| (dd) | “Initial Portfolio” means, collectively, the portfolio of eleven hospitality properties to be indirectly contributed to the Trust on Closing, as described in the Prospectus; |

| (ee) | “Initial Unit” means the initial Unit issued by the Trust to the Initial Unitholder and currently held by the Current Unitholder; |

| (ff) | “Initial Unitholder” means the person named herein as the first unitholder of the Initial Unit; |

| (gg) | “Investor Rights Agreement” means the investor rights agreement to be entered into on Closing between the Trust, the OP and certain unitholders of the Trust; |

| (hh) | “Lead Trustee” has the meaning given thereto in Section 5.3; |

| (ii) | “Material Agreements” means, collectively, the Advisory Agreement, the Investor Rights Agreement, the Operating Agreement, and the agency agreement for the Offering as described in the Prospectus; |

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| (jj) | “Monthly Limit” has the meaning given thereto in Subparagraph 7.10(d)(i); |

| (kk) | “mortgage” means any mortgage, charge, hypothec, bond, debenture, note or other evidence of indebtedness, in each case which is directly or indirectly secured by real property; |

| (ll) | “NCI” means the non-certificated inventory system of CDS; |

| (mm) | “net