Company: NXDT
Filing Date: 2025-06-12
Form Type: S-4
Source: 0001437749-25-020201
Chunk: 99

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-06-12
Form: S-4
Chunk 99
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 through the most recent Series A Dividend Payment Dates therefor for all series of preferred stock ranking on a parity with the New Series A Preferred Stock as to the payment of dividends and distributions, including the New Series B Preferred Stock, have been or contemporaneously are declared and paid through the most recent Series A Dividend Payment Dates therefor. If full cumulative dividends and distributions due have not been paid on all such Outstanding (as defined in below) preferred stock, any dividends and distributions being paid on such preferred stock (including the New Series A Preferred Stock) will be paid as nearly pro rata as possible in proportion to the respective amounts of dividends and distributions accumulated but unpaid on each such series of preferred shares on the relevant Series A Dividend Payment Date. No holders of shares of New Series A Preferred Stock will be entitled to any dividends or distributions, whether payable in cash, property or shares, in excess of full cumulative dividends and distributions as provided in this paragraph on New Series A Preferred Stock. No interest or sum of money in lieu of interest will be payable in respect of any dividend payments on any shares of New Series A Preferred Stock that may be in arrears.

For so long as shares of New Series A Preferred Stock are Outstanding, New NXDT will not declare or pay any dividend or other distribution (other than a dividend or distribution paid in common stock, options, warrants or rights to subscribe for or purchase common stock or other stock, if any, ranking junior to the New Series A Preferred Stock as to dividends and distribution of assets upon liquidation) in respect of the New Common Stock or any other stock of New NXDT ranking junior to the New Series A Preferred Stock as to the payment of dividends and the distribution of assets upon liquidation, or call for redemption, redeem, purchase or otherwise acquire for consideration any common stock or any other stock of New NXDT ranking junior to the New Series A Preferred Stock as to the payment of dividends and the distribution of assets upon liquidation (except by conversion into or exchange for stock of New NXDT ranking junior to the New Series A Preferred Stock as to dividends and distributions of assets upon liquidation), unless, in each case, all cumulative dividends and distributions on all New Series A Preferred Stock due on or prior to the date of the transaction have been declared and paid (or have been declared and sufficient funds for the payment thereof deposited with the applicable Dividend Disbursing Agent (as defined in the New NXDT Charter)).

Any dividend payment made on the New Series A Preferred Stock will first