Analysis of a standard Wireless Capital Cell Tower Lease Buyout Agreement.
If you are looking for Wireless Capital Partner’s website, please visit www.wirelesscapital.com. Cell Tower Attorney is a law firm that assists landowners approached by Wireless Capital Partners with negotiating the terms and conditions of a cell site lease buyout agreement. Wireless Capital Partners is a registered trademark of Wireless Capital Partners, LLC. We are not affiliated in any way with Wireless Capital Partners.
If you have been approached by a representative of Wireless Capital Partners interested in purchasing your cell site lease, the following is a description of the standard Wireless Capital cell tower lease buyout Agreement:
- The Wireless Capital Cell Site Buyout Agreement is drafted as a purchase and sale of lease and successor lease agreement in which Wireless Capital pays a one-time lump-sum payment to the landowner.
- Assignment - in exchange for the payment, the landowner agrees to sell and assign to Wireless Capital all of the landowner’s right and interest in the cell site lease on the property until the date that the lease reverts back to the landowner, typically 15 years after the effective date of the Agreement (“the reversion date”). Wireless Capital has the sole and exclusive right to, among other things, i) collect all rent from the carrier under the cell site lease, ii) enforce all of the landowner’s rights under the lease, iii) commence any lawsuit relating to the carrier’s obligations under the cell site lease, iv) terminate the lease for any reason permitted under the lease, v) extend or renew the lease, or vi) grant or withhold consent to any assignment or sublease by the carrier under the lease. The Wireless Capital Cell Site Buyout Agreement provides that the landowner will not, other than to the extent required or requested by Wireless Capital, exercise any of the rights or remedies of lessor under the cell site lease. Nevertheless, Wireless Capital does not assume any obligation or liability of the landowner under the lease. In addition, Wireless Capital does not have any liability or obligation with respect to the management, repair or for any injury or damage that occurs on the leased premises.
- Landowner’s Obligations - the landowner agrees to continue to perform or pay all obligations and liabilities of the lessor under the cell site lease.
- Successor Lease - the Wireless Capital Cell Site Buyout Agreement provides that upon the expiration or termination of the existing cell site lease, the landowner agrees to lease the premises to Wireless Capital for a term commencing on the expiration or termination date and ending on the reversion date upon the same terms, conditions and obligations as the existing cell site lease except that Wireless Capital is the named tenant and will have no obligation to pay any rent. In addition, Wireless Capital may freely assign the new lease or sublease the premises and has an easement for access and utility purposes as well as the right to make improvements on the premises.
- Landowner Assignment - the landowner may not assign or transfer its rights under the Wireless Capital Cell Site Buyout Agreement to any party without Wireless Capital’s consent, except to a successor landowner. Wireless Capital may assign or transfer its rights under the Wireless Capital Cell Site Buyout Agreement without notice or consent of the landowner.
Cell Tower Attorney has experience in negotiating these and other similar provisions directly with Wireless Capital Partners. We can assist you in negotiating equitable terms and conditions that put reasonable constraints on the rights of Wireless Capital Partners or other third party purchasers to utilize the leased premises beyond the scope set forth in the original cell site lease as well as protect your existing and future rights and obligations.
If you have been approached, please consider contacting us for assistance in your lease negotiation.
If you are looking for information regarding the appropriate buyout amount, our related company, Steel in the Air, can assist you with determining a fair market value for a Wireless Capital Partners lease buyout offer.
*** If you are looking for Wireless Capital Partner’s website, please visit www.wirelesscapital.com. We are not affiliated in any way with Wireless Capital Partners, LLC***