Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2059

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2059
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 AGREEMENT
OF
NHT OPERATING PARTNERSHIP, LLC</div>

This First Amendment (this “”) dated as of March 27, 2019 with an effective date of January 8, 2019, is to the Amended and Restated Company Agreement of NHT Operating Partnership, LLC (the “”), dated January 8, 2019, by and among the Manager and the Persons that are party thereto from time to time and whose names are set forth on attached thereto (as it may be amended from time to time) (as amended, the “”).

A. The Manager and the Class A Members desire to amend the Operating Agreement as set forth herein to account for the admission of Jesse Blair as a Member of the Company and to change certain definitions.

B. In accordance with Section 14.1(a) of the Operating Agreement, this Amendment has been approved by the Manager and the Class A Members.

Section 1.

(a) The definition of “Publicly Traded” contained in Article 1 of the Operating Agreement is deleted and replaced in its entirety with the following:

” means listed or admitted to trading on the TSX Venture Exchange, New York Stock Exchange, the Nasdaq Stock Market, any affiliates or successor to any of the foregoing, or any other exchange on which the REIT Units are or may be listed from time to time.

(b) The definition of “Blair” contained in Article 1 of the Operating Agreement is deleted and replaced in its entirety with the following:

” means Neil Labatte, an individual and the sole equityholder of the initial Manager.

(c) All references to “Blair” in the Operating Agreement are deleted and replaced with “Labatte”.

(d) Section 7.6 of the Operating Agreement is deleted and replaced in its entirety with the following:

<div align='center'>I-1638</div>

The Manager and any controlled Affiliates of the Manager shall only conduct the activities contemplated by this Agreement. Notwithstanding the foregoing, the Manager and any Affiliates of the Manager may acquire less than 5% of the equity securities of any Person, which securities are listed on any national securities exchange and the Manager of such Affiliate has no other business relationship, direct or indirect, with the issuer of such securities.

(e) of the Operating Agreement is hereby amended and restated in its entirety to read as set forth on attached hereto.

Section 2. .

(a) . This Amendment is limited as specified and shall not