Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 857

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 857
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, on behalf of itself and its successors and assigns hereby waives any such right. It is the intention of the Partners that the rights of the parties hereto and their successors-in-interest to Partnership property, as among themselves, shall be governed by the terms of this Agreement, and that the rights of the Partners and their respective successors-in-interest shall be subject to the limitations and restrictions as set forth in this Agreement.

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I-600

ARTICLE 14.
AMENDMENT OF PARTNERSHIP AGREEMENT; MEETINGS</div>

Section 14.1. .

(a) A proposed amendment shall be adopted and be effective as an amendment hereto if it is approved by the General Partner and the Board of Directors.

(b) Notwithstanding , this Agreement shall not be amended without (i) the consent of each Partner materially adversely affected if such amendment would (1) convert a Limited Partner’s Interest in the Partnership into a General Partner Interest, (2) modify the limited liability of a Limited Partner in a manner materially adverse to such Limited Partner, (3) alter rights of such Partner to receive distributions pursuant to or , or the allocations specified in (except as permitted pursuant to ) in a manner materially adverse to such Partner, or (4) amend this or (ii) the consent of each Partner materially adversely affected and, until the earlier of (1) the Incumbent GP or its Affiliates no longer owning Class C Common Units and (2) the Company or the Partnership exercising their Call Right as set forth in the Side Letter, the consent of the Incumbent GP, if such amendment would materially adversely and disproportionately affect the Class C Common Unitholders, relative to the Class A Common Unitholders or Class B Common Unitholders; , , that the consent of each Partner materially adversely affected or of the Incumbent GP, as applicable, shall not be required for any amendment or action that affects all Partners holding Common Units or the same class or series of Partnership Units other than Common Units on a uniform or pro rata basis. Any amendment consented to by any Partner shall be effective as to that Partner, notwithstanding the absence of such consent by any other Partner.

Section 14.2. .

(a) Meetings of the Partners may be called by the General Partner and shall be called upon the receipt by the General Partner of a written request by Limited Partners (other than the Company) holding 20% or more of the Partnership Interests or the Board of Directors. The