Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 254

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 254
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 trustees and officers of the REIT in executing and delivering the Merger Agreement, and any amendments, modifications or supplements thereto, are hereby ratified and approved; |

| 4. | Any trustee or officer of the REIT be and is hereby authorized and directed to execute on behalf of the REIT and to deliver and to cause to be delivered, all such documents, agreements and instruments and to do or cause to be done all such other acts and things as they shall determine to be necessary or desirable in order to carry out the intent of the foregoing resolutions and the matters authorized thereby, such determination to be conclusively evidenced by the execution and delivery of such documents, agreements or instruments or the doing of any such act or thing; |

| 5. | Notwithstanding that this resolution has been passed by the Unitholders, the board of trustees of the REIT (with Mr. Dondero declaring his interest in the Amendments and abstaining from voting), are authorized, without further notice to or approval of the Unitholders to: (a) amend the Merger Agreement to the extent permitted by the Merger Agreement; and/or (b) terminate the Merger Agreement and to not proceed with the transactions contemplated therein to the extent permitted by the Merger Agreement; and |

<div align='center'>D-1

EXHIBIT“A”TO THE TRANSACTION RESOLUTION CONTAINED ON APPENDIX D
AMENDMENTS TO DECLARATION OF TRUST</div>

Section 1.1.Definitions and Interpretation shall be amended to include the following:

“Final Redemption”means, in connection with the Reorganization, the redemption of those Units for which a Unitholder has submitted a Letter of Transmittal and Election and has elected to have such Units redeemed for cash by the Trust in consideration of payment of the Unit Redemption Price;

“Final Redemption Date”means the date on which the Reorganization Effective Time occurs or such other date as agreed to in writing by the parties to the Merger Agreement, which in no event shall occur later than twenty-four (24) months after the date of the Merger Agreement;

“Letter of Transmittal and Election”means the letter of transmittal and election that will be sent to all Registered Unitholders in advance of the Meeting in connection with the Reorganization, pursuant to which Unitholders will elect to either (a) contribute all of such Unitholder’s equity interests in the Trust to New NHT in exchange for shares of common stock of New N