Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 78

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 78
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 extent necessary to consummate the Reorganization; |

| (iii) | retain the services of their respective current officers and key employees; |

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| (iv) | preserve their goodwill and relationships with tenants and others having business dealings with them; and |

| (v) | preserve their assets and properties in good repair and condition (normal wear and tear excepted). |

Notwithstanding the foregoing, any decision, determination or action to be made or taken (or not taken) in connection with the conduct of the Company during the Interim Period by the Board shall be made or taken (or not taken) at the direction of the Special Committee.

In addition, during the Interim Period, the Company shall not, and the Company shall cause each Company Subsidiary not to, subject to certain exceptions described in the Merger Agreement or as required by Law, do any of the following:

| (i) | amend or propose to amend or otherwise alter its organizational documents (except as necessary to consummate the Reorganization or to extend the time period within which the REIT must hold its annual meeting of Unitholders); |

| (ii) | authorize for issuance, issue, sell, deliver or agree to do any of the foregoing (whether through the issuance or granting of options, warrants, commitments, subscriptions, rights to purchase or otherwise) any shares of any class, partnership interests or any equity equivalents or any other securities convertible into or exchangeable for any shares, partnership interests or any equity equivalents except for the issuance or sale of (A) Company Capital Shares (a) pursuant to the vesting of Deferred Units, or (b) issuable upon exchange or redemption of NHT OP Units, or (B) NHT OP Units pursuant to the vesting of Unvested Profit Interest Units; |

| (iii) | (i) split, combine or reclassify any of their respective share, partnership interests or other equity interests; (ii) except |

| (a) | (1) for the payment of dividends or other distributions declared prior to the date of the Merger Agreement and (2) for the declaration and payment of dividends or distributions in the minimum amount required for the Company to (i) maintain the Company’s qualification for taxation as a REIT under the Code and (ii) avoid or reduce the payment of income or excise Tax (including under Section 857 or 4981 of the Code) or any other entity-level Tax; |

| (b