Company: NXDT
Filing Date: 2025-04-23
Form Type: S-4/A
Source: 0001437749-25-012810
Chunk: 204

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-23
Form: S-4/A
Chunk 204
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 Stock and any class or series of stock ranking on a parity with the New Series B Preferred Stock as to the payment of dividends and distributions will be declared pro rata so that the amount of dividends and distributions declared per share of New Series B Preferred Stock and such class or series of stock ranking on a parity with the New Series B Preferred Stock as to the payment of dividends and distributions will in all cases bear to each other the same ratio that accumulated dividends and distributions per share on the New Series B Preferred Stock and such class or series of stock ranking on a parity with the New Series B Preferred Stock as to the payment of dividends and distributions (which will not include any accrual in respect of unpaid dividends for prior dividend periods if such stock ranking on a parity with the New Series B Preferred Stock as to the payment of dividends and distributions do not have a cumulative dividend) bear to each other. No holders of shares of New Series B Preferred Stock will be entitled to any dividend in excess of full dividends on the New Series B Preferred Stock. No interest, or sum of money in lieu of interest, shall be payable in respect of any dividend and distribution payment or payments on the New Series B Preferred Stock which may be in arrears.

Unless full cumulative dividends and distributions on the New Series B Preferred Stock for all past Series B Dividend Periods have been or contemporaneously are declared and paid or declared and a sum sufficient for the payment thereof in full is set apart for payment for all past Series B Dividend Periods that have ended, no dividends or other distributions of cash or other property may be declared and paid or declared and set apart for payment, directly or indirectly, on or with respect to the stock ranking junior to or on a parity with the New Series B Preferred Stock as to the payment of dividends and distributions (other than dividends or other distributions in stock ranking junior to the New Series B Preferred Stock in payment of dividends and the distribution of assets upon liquidation or in options, warrants or rights to subscribe for or purchase shares ranking junior to the New Series B Preferred Stock in payment of dividends and the distribution of assets upon liquidation), nor shall any shares ranking junior to or on a parity with the New Series B Preferred Stock as to the payment of dividends and distributions be redeemed, purchased or otherwise acquired (other than a redemption, purchase or other acquisition of New Common Stock or shares of any class or series of stock ranking on a parity with the New Series B Preferred Stock as to the payment of dividends and distributions made for purposes of and in compliance with