Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2065

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2065
---
ed to this Amendment as of the date first set forth above and upon effectiveness, the undersigned is no longer a party to the Operating Agreement.

NEXPOINT REAL ESTATE OPPORTUNITIES, LLC

By:_______________________

Name: Brian Mitts

Title: Chief Financial Officer, Executive VP-Finance, Treasurer and Assistant Secretary

<div align='center'>[Signature Page to the Third Amendment to the Operating Agreement of NHT Operating Partnership, LLC]

I-1648</div>

Exhibit 10.7

<div align='center'>AMENDED AND RESTATED ADVISORY AGREEMENT

BY AND AMONG

NEXPOINT HOSPITALITY TRUST,

NHT HOLDINGS, LLC

AND

NEXPOINT REAL ESTATE ADVISORS VI, L.P.

I-1649

TABLE OF CONTENTS</div>

Page

Page

2. Appointment 4

3. Duties of the Advisor 4

4. Authority of Advisor 7

5. No Partnership or Joint Venture 7

6. Personnel 7

7. Bank Accounts 8

8. Advisor’s Conduct 8

9. Declaration of Trust and Operating Agreement 8

10. Records; Access; Confidentiality 8

11. Limitations on Activities 9

12. Compensation 9

13. Expenses 9

14. Other Services 10

15. Other Activities of the Advisor 10

16. Term and Termination 10

17. Payments and Duties Upon Termination 11

18. Internalization 11

19. Limitation of Liability, Exculpation and Indemnification by the REIT Parties and their Respective Subsidiaries 11

20. Indemnification by the Advisor 13

21. Use of the Name NexPoint 13

22. Notices 13

23. Assignment 14

24. Modification 15

25. Severability 15

26. Survival 15

27. Currency 15

28. Time of the Essence 15

29. Governing Law; Exclusive Jurisdiction; Waiver of Jury Trial 15

30. Entire Agreement 15

31. No Waiver 15

32. Pronouns and Plurals 15

33. Headings 15

34. Execution in Counterparts 16

35. Limitation of Recourse 16

i

<div align='center'>I-1650

AMENDED AND RESTATED ADVISORY AGRE