Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2035

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2035
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 to the Manager of (i) evidence of acceptance in form satisfactory to the Manager of all of the terms and conditions of this Agreement, including, without limitation, the power of attorney granted in and (ii) such other documents reasonably requested by the Manager in order to effect such Person’s admission as a Substituted Member. The admission of any Person as a Substituted Member shall become effective on the date upon which the name of such Person is

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recorded on the books and records of the Company, following the consent of the Manager to such admission.

(b) A transferee who has been admitted as a Substituted Member in accordance with this shall have all the rights and powers and be subject to all the restrictions and liabilities of a Member under this Agreement.

(c) Upon the admission of a Substituted Member, the Manager shall amend to reflect the name, address, number of Membership Units and Percentage Interest (as applicable) of such Substituted Member and to eliminate or adjust, if necessary, the name, address and interest of the predecessor of such Substituted Member.

Section 11.4.

If the Class A Members do not consent to the admission of any permitted transferee as a Substituted Member, as described in , such transferee shall be considered an Assignee for purposes of this Agreement. An Assignee shall be deemed to have had assigned to it, and shall be entitled to receive distributions from the Company and the share of Net Income, Net Losses, Recapture Income, and any other items, gain, loss, deduction and credit of the Company attributable to the Membership Interest assigned to such transferee, but shall not be deemed to be a holder of a Membership Interest for any other purpose under this Agreement, and shall not be entitled to vote such Membership Interest in any matter presented to the Members for a vote (such Membership Interest being deemed to have been voted on such matter in the same proportion as all other Membership Interests held by Members are voted). In the event any such transferee desires to make a further assignment of any such Membership Interest, such transferee shall be subject to all of the provisions of this to the same extent and in the same manner as any Member desiring to make an assignment of his or its Membership Interest.

Section 11.5.

(a) In the event of an Approved Sale, the Members who approved the Approved Sale (the “”) have the right to require each other Member (the “”) to