Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2039

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2039
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, other than such Additional Member, and all distributions of Available Cash thereafter shall be made to all of the Members and Assignees, including such Additional Member.

Section 12.2.

Subject to , the Manager shall take all steps necessary and appropriate under the Act to amend the records of the Company for the admission to the Company of any Member, and, if necessary, to prepare as soon as practical an amendment of this Agreement (including an amendment of ) and, if required by law, shall prepare and file an amendment to the Certificate and may for this purpose exercise the power of attorney granted pursuant to . In no event, be amended without the consent of NREO.

<div align='center'>ARTICLE 13.
DISSOLUTION, LIQUIDATION AND TERMINATION</div>

Section 13.1.

The Company shall not be dissolved by the admission of Substituted Members or Additional Members in accordance with the terms of this Agreement. Upon the resignation of the Manager, any successor Manager shall continue the business of the Company without dissolution. Subject to , the Company shall dissolve, and its affairs shall be wound up, only upon the first to occur of any of the following (“”):

(a) at any time approved by the holders of a majority of the Percentage Interests of the Members;

<div align='center'>53

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(b) at any time that there are no Members of the Company unless the business of the Company is continued in accordance with the Act;

(c) the sale of all or substantially all of the assets and properties of the Company; or

(d) any other event sufficient under Act to cause the dissolution of the Company.

Section 13.2.

(a) Upon the occurrence of a Liquidating Event, the Company shall continue solely for the purposes of winding up its affairs in an orderly manner, liquidating its assets, and satisfying the claims of its creditors and Members. No Member shall take any action that is inconsistent with, or not necessary to or appropriate for, the winding up of the Company’s business and affairs. The Manager, or, in the event there is no remaining Manager, any Person elected by a majority of the Percentage Interests of the Members (the Manager or such other Person being referred to herein as the “”), shall be responsible for overseeing the winding up and dissolution of the Company and shall take full account of the Company’s liabilities and property and the Company property shall be liquidated as promptly as is consistent with obtaining the fair value thereof, and the proceeds therefrom