Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1912

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1912
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 the same and shall only be obligated to hold the same in a current or other non-interest bearing account with a chartered bank or trust company, pending payment to the person or persons entitled thereto. The Trustees shall, as and when required by law, and may at any time prior to such required time, pay all or part of such amounts so held to a court in the province where the Trust has its principal office or to the Public Guardian and Trustee (or other similar government official or agency) in the province where the Trust has its principal office whose receipt shall be a good and sufficient discharge of the obligations of the Trustees.

1.22 Repurchase of Units

The Trust shall be entitled to purchase for cancellation at any time the whole or from time to time any part of the outstanding Units, at a price per Unit and on a basis determined by the Trustees in compliance with all applicable Securities Laws and the rules or policies of any applicable stock exchange.

1.23 Take-Over Bids

| (a) | If within 120 days after the date of a take-over bid (which, for purposes of this Section 7.23, includes an issuer bid made by the Trust) the bid is accepted by the holders of not less than 90% of the Units, calculated as if all Redeemable Units were redeemed for Units, other than Units held at the date of the take-over bid by or on |

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| behalf of the offeror or an affiliate or associate of the offeror, the offeror is entitled, on complying with this Section 7.23, to acquire the Units held by holders of Units that did not tender to the take-over bid (the “dissenting offerees”). |

| (b) | An offeror may acquire Units held by a dissenting offeree by sending by registered mail within 60 days after the date of termination of the take-over bid and in any event within 180 days after the date of the take-over bid, an offeror’s notice to each dissenting offeree stating that: |

| (A) | the offerees holding more than 90% of the Units, calculated on a fully diluted basis, accepted the take-over bid, other than Units held at the date of the take- over bid by or on behalf of the offeror or an affiliate or associate of the offeror; |

| (B) | the offeror is bound to take