Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2038

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2038
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 Company Year, then Net Income, Net Losses, each item thereof and all other items attributable to such interest for such Company Year shall be divided and allocated between the transferor Member and the transferee Member by taking into account their varying interests during the Company Year in accordance with Section 706(d) of the Code, using the interim closing of the books method. All distributions of Available Cash attributable to such Membership Interest with respect to which the Company Record Date is before the date of such transfer, assignment, or redemption shall be made to the transferor Member or the Redeeming Member, as the case may be, and in the case of a transfer or assignment other than a redemption, all distributions of Available Cash thereafter attributable to such Membership Interest shall be made to the transferee Member.

<div align='center'>ARTICLE 12.
ADMISSION OF MEMBERS</div>

Section 12.1.

(a) A Person who makes a Capital Contribution to the Company in accordance with this Agreement shall be admitted to the Company as an Additional Member only upon furnishing to the Manager (i) evidence of acceptance in form satisfactory to the Manager of all of the terms and conditions of this Agreement, including, without limitation, the power of attorney granted in and (ii) such other documents or instruments as may be required in the discretion of the Manager in order to effect such Person’s admission as an Additional Member.

<div align='center'>52

I-1613</div>

(b) Notwithstanding anything to the contrary in this , no Person shall be admitted as an Additional Member without the consent of the Class A Members, which consent may be given or withheld in the Class A Members’ sole and absolute discretion. The admission of any Person as an Additional Member shall become effective on the date upon which the name of such Person is recorded on the books and records of the Company, following the consent of the Class A Members to such admission.

(c) If any Additional Member is admitted to the Company on any day other than the first day of a Company Year, then Net Income, Net Losses, each item thereof and all other items allocable among Members and Assignees for such Company Year shall be allocated among such Additional Member and all other Members and Assignees by taking into account their varying interests during the Company Year in accordance with Section 706(d) of the Code, using the interim closing of the books method. All distributions of Available Cash with respect to which the Company Record Date is before the date of such admission shall be made solely to Members and Assignees