Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 79

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 79
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) | in transactions between the Company and one or more wholly-owned Company Subsidiaries or solely between wholly-owned Company Subsidiaries; or |

| (c) | for distributions by any Company Subsidiary that is not wholly-owned, directly or indirectly, by the Company, to the extent expressly required by the organizational documents of such Company Subsidiary, authorize, declare, set aside or pay any dividend or other distribution (whether in cash, shares or property or any combination thereof) in respect of their respective stock, partnership interests or other equity interests; |

(iii) redeem, repurchase or otherwise acquire, directly or indirectly, any of their respective securities or any securities of any of their respective Subsidiaries, except in the case of clause (iii), (A) as may be required by the Declaration of Trust, Company Charter or the NHT OP LLC Agreement or (B) for the withholding of Deferred Units or acquisition of Deferred Units, in each case, in satisfaction of Tax withholding obligations or in payment of the applicable exercise price in accordance with the terms of the Omnibus Plan or the Deferred Unit Plan, as applicable; or (iv) enter into any Contract with respect to the voting or registration of any share of stock or equity interest of the Company or any Company Subsidiary;

| (iv) | authorize, recommend, propose or announce an intention to adopt or effect, or adopt or effect a plan of complete or partial liquidation, dissolution, merger, consolidation, conversion, restructuring, recapitalization or other reorganization, except as necessary to consummate the Reorganization; |

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| (v) | (i) incur, assume, refinance or guarantee any indebtedness for borrowed money or issue any debt securities, or assume or guarantee any Indebtedness for borrowed money, except (a) for borrowings and guarantees under existing loan arrangements in the ordinary course of business consistent with past practice; or (b) in connection with transactions permitted pursuant to Section 6.1(j) of the Merger Agreement; (ii) prepay, refinance or amend any Indebtedness, except for (a) repayments under the Company’s existing credit facilities in the ordinary course of business consistent with past practice; and (b) mandatory payments under the terms of any Indebtedness in accordance with its terms; or (iii) except as set forth on the Company Disclosure Letter, make loans, advances or capital contributions to