Common use of Offerings of Class A Common Stock Clause in Contracts

Offerings of Class A Common Stock. At any time Publico issues a share of Class A Common Stock other than in connection with an Incentive Plan or the IPO (it being agreed that Holdco will acquire the Units noted in Exhibit A in connection with the IPO pursuant to the terms of the Transaction Agreement), net proceeds received by Publico with respect to such share shall be concurrently transferred to Holdco for transfer to the Partnership and HFF in such manner as the General Partner shall determine and the Partnership shall in return issue to Holdco one Unit registered in the name of Holdco, and the Capital Account of Holdco shall be adjusted accordingly.

Offerings of Class A Common Stock. At any time Publico issues a share of Class A Common Stock other than in connection with an Incentive Plan or the IPO (it being agreed that Holdco will acquire the Units noted in Exhibit A in connection with the IPO pursuant to the terms of the Transaction Agreement), net proceeds received by Publico with respect to such share shall be concurrently transferred to Holdco for transfer to the Partnership and HFF HFFS in such manner as the General Partner shall determine and the Partnership shall in return issue to Holdco one Unit registered in the name of Holdco, and the Capital Account of Holdco shall be adjusted accordingly.