Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1981

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1981
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the “”) and an original limited liability company agreement, dated as of December 4, 2018 (“”), was entered into by NHT Operating Partnership GP, LLC, as the initial member (the “”); and

WHEREAS, the parties hereto desire to effect the following: (a) the amendment and restatement of the Initial Agreement in its entirety; (b) the admission of NHT Holdings, Blair and NREO as Members; (c) the issuance of additional Class B Units to the Initial Member; (d) the appointment by NREO of NHT Operating Partnership GP, LLC as the initial Manager of the Company; and (e) the continuation of the Company on the terms set forth herein.

NOW THEREFORE, in consideration of the mutual covenants herein contained, and other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:

<div align='center'>ARTICLE 1.
DEFINED TERMS</div>

The following definitions shall be for all purposes, unless otherwise clearly indicated to the contrary, applied to the terms used in this Agreement.

” of any Contributed Property means the fair market value of such property at the time of contribution, as determined by the Manager (subject to ), using such reasonable method of valuation as the Manager may adopt. Subject to hereof, the Manager (subject to ) shall, use such method as it deems reasonable and appropriate to allocate the aggregate of the 704(c) Values of Contributed Properties in a single or integrated transaction among the separate properties on a basis proportional to their respective fair market values.

” means the Delaware Limited Liability Company Act, as it may be amended from time to time, and any successor to such statute.

<div align='center'>I-1562</div>

” has the meaning set forth in .

” means a Person admitted to the Company as a Member pursuant to hereof and who is shown as such on the books and records of the Company.

” means the Capital Account maintained for each Member as of the end of each Company taxable year (a) increased by any amounts which such Member is obligated to restore pursuant to any provision of this Agreement or is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) and (b) decreased by the items described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4),