Cell Tower Leases Clause Samples
A Cell Tower Leases clause governs the terms under which a property owner permits a telecommunications company to install and operate cell towers on their land. This clause typically outlines the duration of the lease, rental payments, maintenance responsibilities, and any restrictions on the use of the property. By clearly defining the rights and obligations of both parties, the clause ensures predictable income for the property owner and secure site access for the telecom company, thereby minimizing disputes and clarifying expectations.
Cell Tower Leases. All amounts due from tenants to Seller, as landlord under the Cell Tower Leases (“Cell Lease Rent”) previously paid to, or collected by, Seller as landlord under the Cell Tower Leases and attributable to any period following the Closing Date shall be prorated as of the Closing Date. Any prepaid Cell Lease Rent for the period following the Closing Date shall be paid over by Seller to Purchaser. Cell Lease Rent due prior to the Closing Date but not collected on or before the Closing Date shall not be prorated (and Seller shall not receive credit for any such delinquent rent). All unpaid Cell Lease Rent collected by Purchaser after Closing shall first be applied to such Cell Lease Rent as is then due for the current month, then to month in which Closing occurs and prorated appropriately, and then to Seller as to all Cell Lease Rent which is then due for the month(s) preceding the Closing. Seller shall have no right to commence an action against any tenant under the Cell Tower Leases subsequent to the Closing Date of any kind or nature or otherwise pursue any such tenant in any manner with respect to delinquent rents or similar payments attributable to the period prior to the Closing