Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 832

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 832
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 transferred to any other Person. The Incumbent GP must provide written notice to the Partnership Board of its Observer. An Observer shall not be a Partnership Director and shall not be considered for purposes of quorum, voting, consent or other actions of the Partnership Board, notwithstanding anything to the contrary in this Agreement.

(2) The Observer shall be entitled to attend meetings of the Partnership Board and any committee thereof (in each case, including any executive sessions) as a non-voting observer and to receive at the same time and in the same manner copies of all written materials (including copies of meeting minutes, presentation materials, notices, reports, forms of action by written consent in lieu of a meeting and any annexes thereto, etc.) given to Partnership Directors in connection with such meetings (and if the Partnership Board or any committee thereof proposes to act by written consent, the Partnership Board shall provide the Observer at the same time and in the same manner with copies of all notices and written materials given to Partnership Directors in connection with such action). The Observer’s access to any information or meeting or portion thereof shall be subject in all instances to (A) any determination of the Partnership Board to exclude the Observer’s access in accordance with and (B) the Observer executing a confidentiality agreement. The Observer shall be entitled to receive notice of meetings of the Partnership Board (or any committee thereof) in the same manner upon which notice of meetings are provided to members of the Partnership Board (or any committee thereof).

(3) Notwithstanding anything to the contrary set forth in , the Partnership Board may exclude the Observer from access to any information or meeting or portion thereof, including any meeting of the Partnership Board or any committee thereof (in each case, including any executive sessions), if the Partnership Board determines, in its reasonable and good faith discretion, that such exclusion (A) is required to preserve attorney-client privilege or (B) is necessary as the result of a conflict of interest between the Partnership and the Incumbent GP who designated such Observer, and any such determination of the Partnership Board made in its reasonable and good faith discretion shall be final and binding.

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I-579

ARTICLE 8.
RIGHTS AND OBLIGATIONS OF LIMITED PARTNERS</div>

Section 8.1. .

No Limited Partner, acting in its capacity as such, shall have any liability under this Agreement except for liability resulting from: (a) an act or omission on the part of such Limited Partner that was committed in bad faith or was