Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 281

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 281
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 the meaning of NI 58-101, this requirement shall not be applicable for a period of 60 days thereafter, during which time the remaining trustees shall appoint a sufficient number of trustees who qualify as “independent” to comply with this requirement.

Pursuant to NI 58-101, an independent trustee is one who is free from any direct or indirect relationship which could, in the view of the Board, be reasonably expected to interfere with a trustee’s independent judgment.

In the event the chair of the Board (the "Chair") is not independent, the independent trustees will select one of the independent trustees to be appointed as the lead trustee of the Board for such term as the independent trustees may determine (the "Lead Trustee"). If the REIT has a non-executive Chair who is independent, then the role of the Lead Trustee will be filled by the non-executive Chair. The Lead Trustee or non-executive Chair will chair regular meetings of the independent trustees and assume other responsibilities that the independent trustees as a whole have designated.

| 3. | Responsibilities of the Board of Trustees |

The Board is responsible for the stewardship and oversight of the REIT and in that regard shall be specifically responsible for:

| (a) | participating in the development of and approving a strategic plan for the REIT; |

| (b) | supervising the activities and managing the investments and affairs of the REIT; |

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| (c) | approving major decisions regarding the REIT; |

| (d) | defining the roles and responsibilities of management; |

| (e) | reviewing and approving the business and investment objectives to be met by management; |

| (f) | assessing the performance of and overseeing management; |

| (g) | issuing securities of the REIT for such consideration as the Board may deem appropriate, subject to applicable law; |

| (h) | reviewing the REIT’s debt strategy; |

| (i) | identifying and managing risk exposure; |

| (j) | ensuring the integrity and adequacy of the REIT’s internal controls and management information systems; |

| (k) | succession planning; |

| (l) | establishing committees of the Board, where required or prudent, and defining their mandate; |

| (m) | establishing and maintaining procedures and policies to ascertain trustee independence; |

| (n) | maintaining records and providing reports to unitholders; |

| (o) | ensuring effective and