Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2020

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2020
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 cease to qualify as a real estate investment trust or the board of managers of NHT Holdings elects for NHT Holdings to cease to qualify as a real estate investment trust, as applicable, and (c) the Company does not become classified as a “publicly traded partnership” for purposes of Section 7704 of the Code.

Section 7.11.

Notwithstanding any other provision in this Agreement, the Company may not take or refrain from taking any action that could result in NHT becoming a SIFT trust for purposes of the Tax Act, and the Manager will not permit or cause the Company to take or refrain from taking such action.

Section 7.12.

(a) The Manager may rely and shall be protected in acting, or refraining from acting, upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture, or other paper or document believed by it in good faith to be genuine and to have been signed or presented by the proper party or parties.

(b) The Manager may consult with legal counsel, accountants, appraisers, management consultants, investment bankers, architects, engineers, environmental consultants and other consultants and advisers selected by it, and any act taken or omitted to be taken in reliance upon the opinion of such Persons as to matters which the Manager reasonably believes to be within such Person’s professional or expert competence shall be conclusively presumed to have been done or omitted in good faith and in accordance with such opinion.

(c) The Manager shall have the right, in respect of any of its powers or obligations hereunder, to act through any of its duly authorized officers and duly appointed attorneys-in-fact. Each such attorney shall, to the extent provided by the Manager in the power of attorney, have full power and authority to do and perform each and every act and duty which is permitted or required to be done by the Manager hereunder.

(d) Notwithstanding any other provisions of this Agreement or the Act, any action of the Manager on behalf of the Company or any decision of the Manager to refrain from acting on behalf of the Company, undertaken in the good faith belief that such action or omission is necessary or advisable in order (i) to protect the ability of each of NHT and NHT Holdings to continue to qualify as a REIT, or (ii) to avoid NHT or NHT Holdings incurring any taxes under Section 337(d), 857, 1374 or 4981 of the Code

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