Common use of Repurchase of Stock of Advisor Clause in Contracts

Repurchase of Stock of Advisor. Immediately upon termination of this Agreement for any reason, the Advisor shall have the right to repurchase any shares of its outstanding common stock held by the Company at a price equal to the average of the daily Market Price for the ten (10) consecutive trading days immediately preceding the date such repurchase option is exercised. The Advisor shall have a similar right to repurchase any units of its operating company held by the Company at a price equal to the redemption price for such units on the date such repurchase option is exercised. In each case, the repurchase price shall be payable in cash. Such repurchase rights shall terminate on the one year anniversary of the termination of this Agreement. All shares of common stock or units of the Advisor held by the Company upon the termination of this Agreement shall be encumbered with Advisor’s repurchase right, even if the Company transfers such common stock or units prior to the termination of the Advisor’s repurchase right.