Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1566

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1566
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, Class B Common Unit and Class C Common Unit shall have the same rights and obligations provided under the Agreement. When reference is made to Percentage Interest or holdings of Partnership Units except as specified in Section 2 of this , such reference will be adjusted to give effect to this provision, notwithstanding anything to the contrary in the Agreement.

<div align='center'>Annex A-1

I-1231

DESIGNATION OF 12.0% SERIES A

CUMULATIVE NON-VOTING PREFERRED UNITS

OF

VINEBROOK HOMES OPERATING PARTNERSHIP, L.P.</div>

Section 1. . A series of Preferred Units, designated the “12.0% Series A Cumulative Non-Voting Preferred Units” (the “Series A Preferred Units”), is hereby established. The total number of authorized units of Series A Preferred Units shall be One Hundred and Twenty Five (125).

Section 2. . Capitalized terms used herein and not otherwise defined shall have the meanings given to such terms in the Agreement. The following defined terms used in this shall have the meanings specified below:

” shall have the meaning provided in .

” shall have the meaning provided in .

” shall have the meaning provided in .

” shall have the meaning provided in .

” shall have the meaning provided in .

” shall have the meaning provided in .

” shall have the meaning provided in .

” means all Partnership Interests designated as preferred units by the General Partner from time to time in accordance with of the Agreement. As of the date hereof, the Preferred Units of the Partnership are the Series A Preferred Units.

” shall have the meaning provided in .

” shall have the meaning provided in the Charter.

” shall have the meaning provided in .

Section 3. . The Series A Preferred Units have no stated maturity and will not be subject to any sinking fund or mandatory redemption.

<div align='center'>Annex B-1

I-1232</div>

Section 4. The Series A Preferred Units shall, with respect to distribution and redemption rights and rights upon liquidation, dissolution or winding up of the Partnership, rank senior to all classes or series of Common Units of the Partnership and to all other equity securities issued by the Partnership from time to time (together with the Common Units, the “Junior Securities”). The term “equity securities” shall not include convertible debt securities unless and until such securities are converted into equity securities of the Partnership.

Section 5. .

(a) Each holder of the then