Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1967

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1967
---
 and the laws of Canada applicable therein and shall be treated in all respects as an Ontario contract. Any and all disputes arising under this Declaration of Trust, whether as to interpretation, performance or otherwise, shall be subject to the exclusive jurisdiction of the courts of the Province of Ontario and each of the Trustees hereby irrevocably attorns, and each Unitholder shall be deemed to hereby irrevocably attorn, to the exclusive jurisdiction of the courts of such province.

1.19 Transition

Notwithstanding any other provision hereof, if otherwise applicable, the approval of a majority of the Independent Trustees shall not be required for, and the provisions of Section 4.10 shall not be operative or effective with respect to the entering into of any Material Agreement, transaction or arrangement or proposed Material Agreement, transaction or arrangement disclosed in the Prospectus.

1.20 TSXV Approval

Notwithstanding any other provision hereof, any references to or provisions herein requiring approval of the TSXV shall only apply if the relevant securities of the Trust are listed on the TSXV at such time.

<div align='center'>[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

I-1548</div>

The Trustees have hereby caused this Declaration of Trust to be executed as of the day and year first above written.

|              | /s/ Neil Labatte |     |                 | /s/ Graham D. Senst |
| Neil Labatte |                  |     | Graham D. Senst |                     |

/s/ James Dondero

James Dondero

<div align='center'>I-1549

SCHEDULE A NEXPOINT HOSPITALITY TRUST

TRUSTEES’REGULATIONS</div>

INTERPRETATION

| 1. | Interpretation. In these Trustees’ Regulations, unless the context otherwise specifies or requires: |

| (a) | all terms used in these Trustees’ Regulations not otherwise defined herein shall have the meanings given to such terms in the Declaration of Trust; |

| (b) | words importing the singular number only shall include the plural and vice versa and words importing a specific gender shall include the other gender; and |

| (c) | the headings used in these Trustees’ Regulations are inserted for reference purposes only and are not to be considered or taken into account in construing the terms or provisions thereof or to be deemed in any way to clarify, modify or explain the effect of any such terms or provisions. |

MEETINGS OF TRUSTE