Company: NXDT
Filing Date: 2025-01-30
Form Type: 424B5
Source: 0001437749-25-002263
Chunk: 50

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-30
Form: 424B5
Chunk 50
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 Company determines. If such redemption is to be by lot and, as a result of such redemption, any holder of Series B Preferred Shares, other than a holder of Series B Preferred Shares that has received an exemption, would become a holder of a number of Series B Preferred Shares in excess of the aggregate share ownership limit because such holder’s Series B Preferred Shares were not redeemed, or were only redeemed in part, then, except as otherwise provided in Article XII of the Declaration, the Company will redeem the requisite number of Series B Preferred Shares of such holder such that no holder will hold a number of shares in excess of the aggregate share ownership limit subsequent to such redemption.

Unless full cumulative dividends on all Series B Preferred Shares for all past Series B Cash Dividend Periods that have ended will have been or contemporaneously are declared and paid in cash or common shares or declared and a sum sufficient for the payment thereof is set apart for payment, (i) no Series B Preferred Shares will be redeemed at the option of the Company in connection with a Change of Control unless all outstanding Series B Preferred Shares are simultaneously redeemed, and (ii) the Company will not purchase or otherwise acquire directly or indirectly for any consideration, nor will any monies be paid to or be made available for a sinking fund for the redemption of, any Series B Preferred Shares (except by conversion into or exchange for shares of, or options, warrants or rights to purchase or subscribe for Junior Shares); provided, however, that the foregoing will not prevent the redemption or purchase by the Company of Series B Preferred Shares pursuant to Article XII of the Declaration or otherwise in order to ensure that the Company remains qualified as a REIT for U.S. federal income tax purposes or the purchase or acquisition of Series B Preferred Shares pursuant to a purchase or exchange offer made on the same terms to all holders of Series B Preferred Shares.

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If a redemption date for a redemption at the option of the Company in connection with a Change of Control falls after a dividend record date and prior to the corresponding dividend payment date, each holder of record of Series B Preferred Shares at the close of business on such dividend record date will be entitled to the dividend payable on such shares on the corresponding dividend payment date notwithstanding the redemption of such shares on or prior to such dividend payment date, and each holder of Series B Preferred Shares that will be redeemed at the option of the Company in connection with a Change of Control will be entitled to an amount equal to the dividends accruing after the end of