Company: NXDT
Filing Date: 2025-04-23
Form Type: S-4/A
Source: 0001437749-25-012810
Chunk: 203

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-23
Form: S-4/A
Chunk 203
---
 and distributions will be payable to holders of record of shares of New Series B Preferred Stock as they appear in the share register of New NXDT at the close of business on the 25th day of the calendar month preceding the applicable Series B Dividend Payment Date or, if such date is not a business day, on the immediately preceding business day, with the same force and effect as if paid on such date (each, a “Series B ”), unless New NXDT’s results of operations, general financing conditions, general economic conditions, applicable provisions of Maryland law, or other factors make it imprudent to do so or New NXDT is contractually unable or New NXDT’s organizational documents prevent doing so. A “Series B Dividend Period” is the respective period commencing on and including the first day of each calendar month and ending on and including the day preceding the first day of the next succeeding Series B Dividend Period. If a share of New Series B Preferred Stock has an Original Issue Date (as defined in the New NXDT Charter) prior to the Series B Dividend Record Date for the Series B Dividend Period in which such share is issued, the dividends and distributions payable on such share shall begin accruing on, and be cumulative from and including, the first day of the Series B Dividend Period in which such share is issued. If a share of New Series B Preferred Stock has an Original Issue Date after the Series B Dividend Record Date for the Series B Dividend Period in which such share is issued, the dividends and distributions payable on such share shall begin accruing on, and be cumulative from and including, the first day of the first Series B Dividend Period commencing after its issuance. Dividends on the New Series B Preferred Stock will accrue whether or not (i) New NXDT has earnings, (ii) there are funds legally available for the payment of such dividends and (iii) such dividends are authorized by New NXDT’s board of directors or declared by New NXDT. Accrued dividends on the New Series B Preferred Stock will not bear interest.

<div align='center'>137</div>

When cumulative dividends are not paid in full (or a sum sufficient for such full payment is not set apart) upon the New Series B Preferred Stock and the shares of any class or series of stock ranking on a parity with the New Series B Preferred Stock as to the payment of dividends and distributions, including the New Series A Preferred Stock, all dividends and distributions declared upon the New Series B Preferred