Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1541

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1541
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 may for this purpose exercise the power of attorney granted pursuant to .

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

Section 13.1. .

The Partnership shall not be dissolved by the admission of Substituted Limited Partners or Additional Limited Partners or by the admission of a successor General Partner in accordance with the terms of this Agreement. Upon the withdrawal of the General Partner, any successor General Partner shall continue the business of the Partnership without dissolution. The Partnership shall dissolve, and its affairs shall be wound up, only upon the first to occur of any of the following (“”):

(a) an election to dissolve the Partnership made by the General Partner following Partnership Board Approval with the consent of Partners holding a majority of the Percentage Interests of the Limited Partners;

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(b) entry of a decree of judicial dissolution of the Partnership pursuant to the provisions of the Act;

(c) at any time that there are no limited partners of the Partnership unless the business of the Partnership is continued in accordance with the Act;

(d) the sale of all or substantially all of the assets and properties of the Partnership; or

(e) any other event sufficient under the Act to cause the dissolution of the Partnership.

Section 13.2. .

(a) Upon the occurrence of a Liquidating Event, the Partnership 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 Partners. No Partner shall take any action that is inconsistent with, or not necessary to or appropriate for, the winding up of the Partnership’s business and affairs. The General Partner, or, in the event there is no remaining General Partner, any Person elected by a majority of the Percentage Interests of the Limited Partners (the General Partner or such other Person being referred to herein as the “”), shall be responsible for overseeing the winding up and dissolution of the Partnership and shall take full account of the Partnership’s liabilities and property and the Partnership property shall be liquidated as promptly as is consistent with obtaining the fair value thereof, and the proceeds therefrom (which may, to the extent determined by the Liquidator following Partnership Board Approval, include REIT Shares of the Company) shall be applied and distributed in the following order:

(1) First, in satisfaction of all of the Partnership’s Debts and liabilities to creditors other than the Partners (whether by payment or the making of reasonable provision for payment