Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1954

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1954
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 cost allowance, unless the Trustees determine otherwise.

1.5 Designations

The Trustees shall make such elections, designations or other filings for tax purposes in respect of amounts paid or payable to Unitholders for such amounts that the Trustees consider to be reasonable, including elections, designations or other filings relating to taxable dividends received by the Trust in the year on shares of taxable Canadian corporations, net taxable capital gains of the Trust in the year and foreign source income of the Trust for the year.

1.6 Partnership Distributions

In exercising their discretion to declare a cash distribution on the Units, the Trustees shall confirm that the OP has or will have sufficient funds to make a corresponding cash distribution on the Redeemable Units in accordance with their terms.

1.7 Definitions

Unless otherwise specified or the context otherwise requires, any term in this Article 12 which is defined in the Tax Act shall have for the purposes of this Article 12 the meaning that it has in the Tax Act.

<div align='center'>ARTICLE 13 FEES AND EXPENSES</div>

1.1 Expenses

The Trust shall pay all expenses incurred in connection with the administration and management of the Trust and its investments out of the property of the Trust, including:

| (a) | interest and other costs of borrowed money; |

| (b) | fees and expenses of lawyers, accountants, auditors, appraisers and other agents or consultants employed by or on behalf of the Trust or the Trustees; |

| (c) | fees and expenses payable pursuant to the Advisory Agreement; |

| (d) | fees and expenses of the Trustees; |

| (e) | fees and expenses connected with the due diligence, acquisition, disposition and ownership of real property interests or mortgage loans or other property; |

| (f) | insurance as considered necessary by the Trustees; |

<div align='center'>I-1536</div>

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| (g) | expenses in connection with payments of distributions of Units of the Trust; |

| (h) | expenses in connection with communications to Unitholders and the other bookkeeping and clerical work necessary in maintaining relations with Unitholders; |

| (i) | expenses of changing or terminating the Trust; |

| (j) | fees and charges of transfer agents, registrars, indenture trustees and other trustees and custodians; |

| (k) | all fees, expenses, taxes and other costs incurred in connection with the issuance, distribution, transfer