Revenue Share. a. Subject to the other applicable terms, provisions, and conditions of this Section, Tenant shall pay Landlord ten percent (10%) of any rents actually received by Tenant under and pursuant to the terms and provisions of any new sublease, license or other collocation agreement for the use of any portion of the Leased Premises entered into by and between Tenant and a third party (any such third party, the “Additional Collocator”) subsequent to the Effective Date (any such amounts, the “Collocation Fee”). Notwithstanding the foregoing, Landlord shall not be entitled to receive any portion of any sums paid by a licensee or sublessee to reimburse Tenant, in whole or in part, for any improvements to the Leased Premises or any structural enhancements to the tower located on the Leased Premises (such tower, the “Tower”), or for costs, expenses, fees, or other charges incurred or associated with the development, operation, repair, or maintenance of the Leased Premises or the Tower. The Collocation Fee shall not be subject to the escalations to Rent as delineated in this Amendment and/or the Lease. To the extent the amount of rents actually received by Tenant from an Additional Collocator escalate or otherwise increase pursuant to those agreements, the Collocation Fee shall be based on such increased amount. b. The initial payment of the Collocation Fee shall be due within thirty (30) days of actual receipt by Tenant of the first collocation payment paid by an Additional Collocator. In the event a sublease or license with an Additional Collocator expires or terminates, Tenant’s obligation to pay the Collocation Fee for such sublease or license shall automatically terminate upon the date of such expiration or termination. Notwithstanding anything contained herein to the contrary, Tenant shall have no obligation to pay to Landlord and Landlord hereby agrees not to demand or request that Tenant pay to Landlord any Collocation Fee in connection with the sublease to or transfer of Tenant’s obligations and/or rights under the Lease, as modified by this Amendment, to any subsidiary, parent or affiliate of Tenant. c. Landlord hereby acknowledges and agrees that Xxxxxx has the sole and absolute right to enter into, renew, extend, terminate, amend, restate, or otherwise modify (including, without limitation, reducing rent or allowing the early termination of) any future or existing subleases, licenses or collocation agreements for occupancy on the Tower, all on such terms as Tenant deems advisable, in Tenant’s sole and absolute discretion, notwithstanding that the same may affect the amounts payable to the Landlord pursuant to this Section. d. Notwithstanding anything to the contrary contained herein, Landlord hereby acknowledges and agrees that Tenant shall have no obligation to pay and shall not pay to Landlord any Collocation Fee in connection with: (i) any subleases, licenses, or other collocation agreements between Tenant, or Tenant’s predecessors- in-interest, as applicable, and any third parties, or such third parties’ predecessors or successors- in-interest, as applicable, entered into prior to the Effective Date (any such agreements, the “Existing Agreements”); (ii) any amendments, modifications, extensions, renewals, and/or restatements to and/or of the Existing Agreements entered into prior to the Effective Date or which may be entered into on or after the Effective Date; (iii) any subleases, licenses, or other collocation agreements entered into by and between Tenant and any Additional Collocators for public emergency and/or safety system purposes that are required or ordered by any governmental authority having jurisdiction at or over the Leased Premises; or (iv) any subleases, licenses or other collocation agreements entered into by and between Tenant and any Additional Collocators if the Landlord has entered into any agreements with such Additional Collocators to accommodate such Additional Collocators’ facilities outside of the Leased Premises and such Additional Collocators pay any amounts (whether characterized as rent, additional rent, use, occupancy or other types of fees, or any other types of monetary consideration) to Landlord for such use.
Appears in 1 contract
Samples: Option and Lease Agreement
Revenue Share. Section 6 of the Lease is hereby deleted in its entirety.
a. Subject to the other applicable terms, provisions, and conditions of this Section, Tenant American Tower, on behalf of Tenant, shall pay Landlord ten Forty-Three and 75/100ths percent (1043.75%) of any rents actually received by Tenant or American Tower under and pursuant to the terms and provisions of any new sublease, license or other collocation agreement for the use of any portion of the Leased Premises entered into by and between Tenant (or American Tower) and a third party (any such third party, the “Additional Collocator”) subsequent to the Effective Date (any such amounts, the “Collocation Fee”). Notwithstanding the foregoing, Landlord shall not be entitled to receive any portion of any sums paid by a licensee or sublessee to (i) reimburse Tenant, in whole Tenant (or in part, American Tower) for any improvements to the Leased Premises or any structural enhancements to the tower located on the Leased Premises (such tower, the “Tower”), which have been made by Tenant or American Tower for the benefit of any licensee, sublessee, or other third party or (ii) reimburse Tenant or American Tower, in whole or in part, for costs, expenses, fees, or other charges incurred or associated with the development, operation, repair, or maintenance of the Leased Premises or the Tower. The Collocation Fee shall not be subject to the escalations to Rent Rent, if any, as delineated in this Amendment and/or the Lease. To the extent the amount of rents actually received by Tenant (or American Tower) from an Additional Collocator escalate or otherwise increase pursuant to those agreements, the Collocation Fee shall be based on such increased amount.
b. The initial payment of the Collocation Fee shall be due within thirty (30) days of actual receipt by Tenant (or American Tower) of the first collocation payment paid by an Additional Collocator. In the event a sublease or license with an Additional Collocator expires or terminates, Tenant’s obligation to pay the Collocation Fee for such sublease or license shall automatically terminate upon the date of such expiration or termination. Notwithstanding anything contained herein to the contrary, Tenant shall have no obligation to pay to Landlord and Landlord hereby agrees not to demand or request that Tenant pay to Landlord any Collocation Fee in connection with the sublease to or transfer of Tenant’s obligations and/or rights under the Lease, as modified by this Amendment, to any subsidiary, parent or affiliate of TenantTenant or American Tower, if such sublease or transfer does not result in additional equipment being located or installed on the Tower.
c. Landlord hereby acknowledges and agrees that Xxxxxx has Tenant and American Tower have the sole and absolute right to enter into, renew, extend, terminate, amend, restaterestate , or otherwise modify (including, without limitation, reducing rent or allowing the early termination of) of any future or existing subleases, licenses or collocation agreements for occupancy on the Tower), all on such terms as Tenant deems and/or American Tower deem advisable, in Tenant’s and/or American Tower’s sole and absolute discretion, notwithstanding that the same may affect the amounts payable to the Landlord pursuant to this Section.
d. Notwithstanding anything to the contrary contained herein, Landlord hereby acknowledges and agrees that Tenant shall have no obligation to pay and shall not pay to Landlord any Collocation Fee in connection with: (i) any subleases, licenses, or other collocation agreements between TenantTenant (or American Tower), or Tenant’s predecessors- (or American Tower’s) predecessors-in-interest, as applicable, and American Tower or any third parties, or such third parties’ predecessors or successors- successors-in-interest, as applicable, entered into prior to the Effective Date (any such agreements, the “Existing Agreements”); or (ii) any amendments, modifications, extensions, renewals, and/or restatements to and/or of the Existing Agreements entered into prior to the Effective Date or which may be entered into on or after the Effective Date; (iii) any subleases, licenses, or other collocation agreements entered into by and between Tenant and any Additional Collocators for public emergency and/or safety system purposes that are required or ordered by any governmental authority having jurisdiction at or over the Leased Premises; or (iv) any subleases, licenses or other collocation agreements entered into by and between Tenant and any Additional Collocators if the Landlord has entered into any agreements with such Additional Collocators to accommodate such Additional Collocators’ facilities outside of the Leased Premises and such Additional Collocators pay any amounts (whether characterized as rent, additional rent, use, occupancy or other types of fees, or any other types of monetary consideration) to Landlord for such use.
Appears in 1 contract
Samples: Lease Agreement
Revenue Share. a. Subject to the other applicable terms, provisions, and conditions of this Section, Tenant shall pay Landlord ten percent (10%) of any rents actually received by Tenant under and pursuant to the terms and provisions of any new sublease, license or other collocation agreement for the use of any portion of the Leased Premises entered into by and between Tenant and a third party (any such third party, the “Additional Collocator”) subsequent to the Effective Date (any such amounts, the “Collocation Fee”). Notwithstanding the foregoing, Landlord shall not be entitled to receive any portion of any sums paid by a licensee or sublessee to reimburse Tenant, in whole or in part, for any improvements to the Leased Premises or any structural enhancements to the tower located on the Leased Premises (such tower, the “Tower”), or for costs, expenses, fees, or other charges incurred or associated with the development, operation, repair, or maintenance of the Leased Premises or the Tower. The Collocation Fee shall not be subject to the escalations to Rent as delineated in this Amendment and/or the Lease. To the extent the amount of rents actually received by Tenant from an Additional Collocator escalate or otherwise increase pursuant to those agreements, the Collocation Fee shall be based on such increased amount.
b. The initial payment of the Collocation Fee shall be due within thirty (30) days of actual receipt by Tenant of the first collocation payment paid by an Additional Collocator. In the event a sublease or license with an Additional Collocator expires or terminates, Tenant’s obligation to pay the Collocation Fee for such sublease or license shall automatically terminate upon the date of such expiration or termination. Notwithstanding anything contained herein to the contrary, Tenant shall have no obligation to pay to Landlord and Landlord hereby agrees not to demand or request that Tenant pay to Landlord any Collocation Fee in connection with the sublease to or transfer of Tenant’s obligations and/or rights under the Lease, as modified by this Amendment, to any subsidiary, parent or affiliate of Tenant.
c. Landlord hereby acknowledges and agrees that Xxxxxx Tenant has the sole and absolute right to enter into, renew, extend, terminate, amend, restate, or otherwise modify (including, without limitation, reducing rent or allowing the early termination of) any future or existing subleases, licenses or collocation agreements for occupancy on the Tower, all on such terms as Tenant deems advisable, in Tenant’s sole and absolute discretion, notwithstanding that the same may affect the amounts payable to the Landlord pursuant to this Section.
d. Notwithstanding anything to the contrary contained herein, Landlord hereby acknowledges and agrees that Tenant shall have no obligation to pay and shall not pay to Landlord any Collocation Fee in connection with: (i) any subleases, licenses, or other collocation agreements between Tenant, or Tenant’s predecessors- in-interest, as applicable, and any third parties, or such third parties’ predecessors or successors- in-interest, as applicable, entered into prior to the Effective Date (any such agreements, the “Existing Agreements”); (ii) any amendments, modifications, extensions, renewals, and/or restatements to and/or of the Existing Agreements entered into prior to the Effective Date or which may be entered into on or after the Effective Date; (iii) any subleases, licenses, or other collocation agreements entered into by and between Tenant and any Additional Collocators for public emergency and/or safety system purposes that are required or ordered by any governmental authority having jurisdiction at or over the Leased Premises; or (iv) any subleases, licenses or other collocation agreements entered into by and between Tenant and any Additional Collocators if the Landlord has entered into any agreements with such Additional Collocators to accommodate such Additional Collocators’ facilities outside of the Leased Premises and such Additional Collocators pay any amounts (whether characterized as rent, additional rent, use, occupancy or other types of fees, or any other types of monetary consideration) to Landlord for such use.
e. In connection with each monthly Collocation Fee Tenant will provide Landlord with a calculation sheet identifying the rental amounts(s) received by Tenant under any applicable sublease, license or other collocation agreement with any Additional Collocator, and any amounts paid by Tenant to Landlord in connection therewith. Landlord shall be permitted to request, no more than once per twelve (12) month period, an annual reconciliation of any and all amounts billed by Tenant to any applicable Additional Collocator together with any payments owed by Tenant and actually paid by Tenant.
Appears in 1 contract
Samples: Land Lease Agreement
Revenue Share. a. The Parties acknowledge and agree that Section 4 of the First Amendment is hereby deleted in its entirety and is of no further force and effect. From and after the Effective Date the obligations of the Parties with respect to revenue share shall be controlled by this Section of this Amendment. Subject to the other applicable terms, provisions, and conditions of this Section, Tenant shall pay Landlord ten twenty percent (1020%) of any rents actually received by Tenant under and pursuant to the terms and provisions of any new sublease, license or other collocation agreement for the use of any portion of the Leased Premises each second and subsequent Collocation Agreement entered into by and between Tenant and a third party subsequent to the Effective Date (any such third party, the “Additional Collocator”) subsequent to the Effective Date (, and any such amounts, the “Collocation Fee”). Notwithstanding the foregoing, Landlord hereby acknowledges and agrees that in the event that there are less than two Collocation Agreements in effect at one time, Landlord shall not be entitled to any Collocation Fee. Landlord shall only be entitled to a Collocation Fee when there are at least two Additional Collocators at any given time, and such Collocation Fee shall only be due for the second and each subsequent Additional Collocator. Notwithstanding the foregoing, Landlord shall not be entitled to receive any portion of any sums paid by a licensee or sublessee to reimburse Tenant, in whole or in part, for any improvements to the Leased Premises or any structural enhancements to the tower located on the Leased Premises (such tower, the “Tower”), or for costs, expenses, fees, or other charges incurred or associated with the development, operation, repair, or maintenance of the Leased Premises or the Tower. The Collocation Fee shall not be subject to the escalations to Rent as delineated in this Amendment and/or the Lease. To the extent the amount of rents actually received by Tenant from an Additional Collocator escalate or otherwise increase pursuant to those agreements, the Collocation Fee shall be based on such increased amount.
b. The initial payment of the Collocation Fee shall be due within thirty (30) days of actual receipt by Tenant of the first collocation payment paid by an the Additional Collocator. In the event a sublease or license with an Additional Collocator expires or terminates, Tenant’s obligation to pay the Collocation Fee for such sublease or license shall automatically terminate upon the date of such expiration or termination. Notwithstanding anything contained herein to the contrary, Tenant shall have no obligation to pay to Landlord and Landlord hereby agrees not to demand or request that Tenant pay to Landlord any Collocation Fee in connection with the sublease to or transfer of Tenant’s obligations and/or rights under the Lease, as modified by this Amendment, to any subsidiary, parent or affiliate of Tenant.
c. Landlord hereby acknowledges and agrees that Xxxxxx Tenant has the sole and absolute right to enter into, renew, extend, terminate, amend, restate, or otherwise modify (including, without limitation, reducing rent or allowing the early termination of) any future or existing subleases, licenses or collocation agreements for occupancy on the Tower, all on such terms as Tenant deems advisable, in Tenant’s sole and absolute discretion, notwithstanding that the same may affect the amounts payable to the Landlord pursuant to this Section.
d. Notwithstanding anything to the contrary contained herein, Landlord hereby acknowledges and agrees that Tenant shall have no obligation to pay and shall not pay to Landlord any Collocation Fee in connection with: (i) any subleases, licenses, or other collocation agreements between Tenant, or Tenant’s predecessors- in-interest, as applicable, and any third parties, or such third parties’ predecessors or successors- in-interest, as applicable, entered into prior to the Effective Date (any such agreements, the “Existing Agreements”); (ii) any amendments, modifications, extensions, renewals, and/or restatements to and/or of the Existing Agreements entered into prior to the Effective Date or which may be entered into on or after the Effective Date; (iii) any subleases, licenses, or other collocation agreements entered into by and between Tenant and any Additional Collocators for public emergency and/or safety system purposes that are required or ordered by any governmental authority having jurisdiction at or over the Leased Premises; or (iv) any subleases, licenses or other collocation agreements entered into by and between Tenant and any Additional Collocators if the Landlord has entered into any agreements with such Additional Collocators to accommodate such Additional Collocators’ facilities outside of the Leased Premises and such Additional Collocators pay any amounts (whether characterized as rent, additional rent, use, occupancy or other types of fees, or any other types of monetary consideration) to Landlord for such use.
Appears in 1 contract
Samples: Option and Lease Agreement
Revenue Share. a. Subject In addition to the other applicable termsPurchase Price paid by Grantee to Grantor herein and as further consideration for the Easement, provisionsin the event Grantee negotiates an extension of the term of the Lease Agreement beyond November 29, 2026 (the “FLE Date”), and conditions such extension includes a rental increase after the FLE Date in excess of this Sectionthe Scheduled Rent (as defined below), Tenant shall Grantee agrees to pay Landlord ten to Grantor an amount equal to fifty percent (1050%) of the difference in any rents actually received by Tenant under and pursuant to the terms and provisions of any new sublease, license or other collocation agreement for the use of any portion increase of the Leased Premises entered into by rental payments over and between Tenant and a third party (any such third party, above the “Additional Collocator”) subsequent to Scheduled Rent due under the Effective Lease Agreement after the FLE Date (any such amounts, the “Collocation FeeRent Revenue”). Notwithstanding the foregoing, Landlord shall not be entitled to receive any portion of any sums paid by a licensee or sublessee to reimburse Tenant, in whole or in part, for any improvements to the Leased Premises or any structural enhancements to the tower located on the Leased Premises (such tower, the “Tower”), or for costs, expenses, fees, or other charges incurred or associated with the development, operation, repair, or maintenance of the Leased Premises or the Tower. The Collocation Fee shall not be subject to the escalations to Rent as delineated in this Amendment and/or the Lease. To the extent the amount of rents actually received by Tenant from an Additional Collocator escalate or otherwise increase pursuant to those agreements, the Collocation Fee Revenue shall be based on such increased amount.
b. The initial payment of the Collocation Fee shall be due paid to Grantor within thirty (30) days after receipt of actual receipt said rent payments by Tenant of the first collocation payment paid by an Additional CollocatorGrantee. In the event a sublease or license with an Additional Collocator expires or terminates, TenantGrantee’s obligation to pay the Collocation Fee for such sublease or license shall automatically terminate upon the date of such expiration or termination. Notwithstanding anything contained herein Rent Revenue to Grantor pursuant to this Easement is expressly subject to the contrary, Tenant condition that Grantee shall have received the rent due from Lessee. Grantee shall have no obligation for payment to pay to Landlord and Landlord hereby agrees Grantor of Rent Revenue if rent is not to demand or request actually received by Grantee. Non-payment of such Rent Revenue by Lessee shall not be a default under this Easement; Grantor acknowledges that Tenant pay to Landlord any Collocation Fee in connection with the sublease to or transfer of Tenant’s obligations and/or rights under the Lease, as modified by this Amendment, to any subsidiary, parent or affiliate of Tenant.
c. Landlord hereby acknowledges and agrees that Xxxxxx has the sole and absolute right to enter into, renew, extend, terminate, amend, restate, or otherwise modify (including, without limitation, reducing rent or allowing the early termination of) any future or existing subleases, licenses or collocation agreements for occupancy on the Tower, all on such terms as Tenant deems advisable, in Tenant’s sole and absolute discretion, notwithstanding that the same may affect the amounts payable to the Landlord pursuant to this Section.
d. Notwithstanding anything to the contrary contained herein, Landlord hereby acknowledges and agrees that Tenant Grantor shall have no recourse against Grantee as a result of the failure of payment of rent by Lessee. Subject to the terms and conditions of this Easement, Grantee shall have sole discretion as to whether, and on what terms, to extend the term of the Lease Agreement, provided such extension does not extend beyond the Term of this Easement without Grantor’s prior written consent, and there shall be no express or implied obligation of Grantee to pay and do so. For purposes of determining the “Scheduled Rent”, the rent payable under the Lease Agreement shall not pay be deemed to Landlord continue to increase pursuant to any Collocation Fee scheduled or periodic adjustments set forth in connection with: (i) any subleases, licenses, or other collocation agreements between Tenant, or Tenant’s predecessors- in-interestthe Lease Agreement, as applicable, and any third parties, or such third parties’ predecessors or successors- in-interest, as applicable, entered into prior to applicable for the Effective Date (any such agreements, the “Existing Agreements”); (ii) any amendments, modifications, extensions, renewals, and/or restatements to and/or duration of the Existing Agreements entered into prior to the Effective Date or which may be entered into on or after the Effective Date; (iii) any subleases, licenses, or other collocation agreements entered into by and between Tenant and any Additional Collocators for public emergency and/or safety system purposes that are required or ordered by any governmental authority having jurisdiction at or over the Leased Premises; or (iv) any subleases, licenses or other collocation agreements entered into by and between Tenant and any Additional Collocators if the Landlord has entered into any agreements with such Additional Collocators to accommodate such Additional Collocators’ facilities outside of the Leased Premises and such Additional Collocators pay any amounts (whether characterized as rent, additional rent, use, occupancy or other types of fees, or any other types of monetary consideration) to Landlord for such usethis Easement.
Appears in 1 contract
Samples: Grant of Easement
Revenue Share. a. Subject (a) In addition to the other applicable termsPurchase Price paid by Grantee to Grantor herein and as further consideration for the Easement, provisionsin the event Grantee negotiates an extension of the term of the Verizon Lease beyond December 31, 2038 (the “Verizon FLE Date”), and conditions such extension includes a rental increase after the Verizon FLE Date in excess of this Sectionthe Verizon Scheduled Rent (as defined below), Tenant shall Grantee agrees to pay Landlord ten to Grantor an amount equal to fifty percent (1050%) of the difference in any rents actually received by Tenant under and pursuant to the terms and provisions of any new sublease, license or other collocation agreement for the use of any portion increase of the Leased Premises entered into by rental payments over and between Tenant and a third party (any such third party, above the “Additional Collocator”) subsequent to Verizon Scheduled Rent due under the Effective Verizon Lease after the Verizon FLE Date (any such amounts, the “Collocation FeeVerizon Rent Revenue”). Notwithstanding the foregoing, Landlord shall not be entitled to receive any portion of any sums paid by a licensee or sublessee to reimburse Tenant, in whole or in part, for any improvements to the Leased Premises or any structural enhancements to the tower located on the Leased Premises (such tower, the “Tower”), or for costs, expenses, fees, or other charges incurred or associated with the development, operation, repair, or maintenance of the Leased Premises or the Tower. The Collocation Fee shall not be subject to the escalations to Verizon Rent as delineated in this Amendment and/or the Lease. To the extent the amount of rents actually received by Tenant from an Additional Collocator escalate or otherwise increase pursuant to those agreements, the Collocation Fee Revenue shall be based on such increased amount.
b. The initial payment of the Collocation Fee shall be due paid to Grantor within thirty (30) days after receipt of actual receipt said rent payments by Tenant of the first collocation payment paid by an Additional CollocatorGrantee. In the event a sublease or license with an Additional Collocator expires or terminates, TenantGrantee’s obligation to pay the Collocation Fee for such sublease or license shall automatically terminate upon the date of such expiration or termination. Notwithstanding anything contained herein Verizon Rent Revenue to Grantor pursuant to this Easement is expressly subject to the contrary, Tenant condition that Grantee shall have received the rent due from Verizon. Grantee shall have no obligation for payment to Grantor of Verizon Rent Revenue if rent is not actually received by Grantee. Non-payment of such Verizon Rent Revenue by Verizon shall not be a default under this Easement; Grantor acknowledges that Grantor shall have no recourse against Grantee as a result of the failure of payment of rent by Verizon. Subject to the terms and conditions of this Easement, Grantee shall have sole discretion as to whether, and on what terms, to extend the term of the Verizon Lease, provided such extension does not extend beyond the Term of this Easement without Grantor’s prior written consent, and there shall be no express or implied obligation of Grantee to do so. For purposes of determining the “Verizon Scheduled Rent”, the rent payable under the Verizon Lease shall be deemed to continue to increase pursuant to any scheduled or periodic adjustments set forth in the Verizon Lease, as applicable for the duration of this Easement.
(b) In addition to the Purchase Price paid by Grantee to Grantor herein and as further consideration for the Easement, in the event Grantee negotiates an extension of the term of the Sprint Lease beyond June 9, 2022 (the “Sprint FLE Date”), and such extension includes a rental increase after the Sprint FLE Date in excess of the Sprint Scheduled Rent (as defined below), Grantee agrees to pay to Landlord Grantor an amount equal to fifty percent (50%) of the difference in any increase of the rental payments over and Landlord hereby agrees not to demand or request that Tenant pay to Landlord any Collocation Fee in connection with above the sublease to or transfer of Tenant’s obligations and/or rights Sprint Scheduled Rent due under the Lease, as modified Sprint Lease after the Sprint FLE Date (“Sprint Rent Revenue”). The Sprint Rent Revenue shall be paid to Grantor within thirty (30) days after receipt of said rent payments by this Amendment, Grantee. Grantee’s obligation to any subsidiary, parent or affiliate of Tenant.
c. Landlord hereby acknowledges and agrees that Xxxxxx has the sole and absolute right pay Sprint Rent Revenue to enter into, renew, extend, terminate, amend, restate, or otherwise modify (including, without limitation, reducing rent or allowing the early termination of) any future or existing subleases, licenses or collocation agreements for occupancy on the Tower, all on such terms as Tenant deems advisable, in Tenant’s sole and absolute discretion, notwithstanding that the same may affect the amounts payable to the Landlord Grantor pursuant to this Section.
d. Notwithstanding anything Easement is expressly subject to the contrary contained herein, Landlord hereby acknowledges and agrees condition that Tenant Grantee shall have received the rent due from Sprint. Grantee shall have no obligation for payment to pay and Grantor of Sprint Rent Revenue if rent is not actually received by Grantee. Non-payment of such Sprint Rent Revenue by Sprint shall not pay be a default under this Easement; Grantor acknowledges that Grantor shall have no recourse against Grantee as a result of the failure of payment of rent by Sprint. Subject to Landlord the terms and conditions of this Easement, Grantee shall have sole discretion as to whether, and on what terms, to extend the term of the Sprint Lease, provided such extension does not extend beyond the Term of this Easement without Grantor’s prior written consent, and there shall be no express or implied obligation of Grantee to do so. For purposes of determining the “Sprint Scheduled Rent”, the rent payable under the Sprint Lease shall be deemed to continue to increase pursuant to any Collocation Fee scheduled or periodic adjustments set forth in connection with: (i) any subleases, licenses, or other collocation agreements between Tenant, or Tenant’s predecessors- in-interestthe Sprint Lease, as applicable, and any third parties, or such third parties’ predecessors or successors- in-interest, as applicable, entered into prior to applicable for the Effective Date (any such agreements, the “Existing Agreements”); (ii) any amendments, modifications, extensions, renewals, and/or restatements to and/or duration of the Existing Agreements entered into prior to the Effective Date or which may be entered into on or after the Effective Date; (iii) any subleases, licenses, or other collocation agreements entered into by and between Tenant and any Additional Collocators for public emergency and/or safety system purposes that are required or ordered by any governmental authority having jurisdiction at or over the Leased Premises; or (iv) any subleases, licenses or other collocation agreements entered into by and between Tenant and any Additional Collocators if the Landlord has entered into any agreements with such Additional Collocators to accommodate such Additional Collocators’ facilities outside of the Leased Premises and such Additional Collocators pay any amounts (whether characterized as rent, additional rent, use, occupancy or other types of fees, or any other types of monetary consideration) to Landlord for such usethis Easement.
Appears in 1 contract
Samples: Grant of Easement
Revenue Share. a. The Parties acknowledge and agree that Section 3.3 and Exhibit C of the Lease are hereby deleted in their entirety and are of no further force and effect. From and after the Effective Date the obligations of the Parties with respect to revenue share shall be controlled by this Section of this Amendment. Subject to the other applicable terms, provisions, and conditions of this Section, Tenant shall pay Landlord ten percent (10%) of any rents actually received by Tenant under and pursuant to the terms and provisions of any new sublease, license or other collocation agreement (any sublease, license or other collocation agreement, a “Collocation Agreement”) for the use of any portion of the Leased Premises entered into by and between Tenant and a third party subsequent to the Effective Date (any such third party, the “Additional Collocator”) subsequent to the Effective Date (” and any such amounts, the “Collocation Fee”). Notwithstanding the foregoing, Landlord shall not be entitled to receive any portion of any sums paid by a licensee or sublessee to reimburse Tenant, in whole or in part, for any improvements to the Leased Premises or any structural enhancements to the tower located on the Leased Premises (such tower, the “Tower”), or for costs, expenses, fees, or other charges incurred or associated with the development, operation, repair, or maintenance of the Leased Premises or the Tower. The Collocation Fee shall not be subject to the escalations to Rent as delineated in this Amendment and/or the Lease. To the extent the amount of rents actually received by Tenant from an Additional Collocator escalate or otherwise increase pursuant to those agreements, the Collocation Fee shall be based on such increased amount.
b. The initial payment of the Collocation Fee shall be due within thirty (30) days of actual receipt by Tenant of the first collocation payment paid by an the Additional Collocator. In the event a sublease or license with an Additional Collocator expires or terminates, Tenant’s obligation to pay the Collocation Fee for such sublease or license shall automatically terminate upon the date of such expiration or termination. Notwithstanding anything contained herein to the contrary, Tenant shall have no obligation to pay to Landlord and Landlord hereby agrees not to demand or request that Tenant pay to Landlord any Collocation Fee in connection with the sublease to or transfer of Tenant’s obligations and/or rights under the Lease, as modified by this Amendment, to any subsidiary, parent or affiliate of Tenant.
c. Landlord hereby acknowledges and agrees that Xxxxxx has the sole and absolute right to enter into, renew, extend, terminate, amend, restate, or otherwise modify (including, without limitation, reducing rent or allowing the early termination of) any future or existing subleases, licenses or collocation agreements for occupancy on the Tower, all on such terms as Tenant deems advisable, in Tenant’s sole and absolute discretion, notwithstanding that the same may affect the amounts payable to the Landlord pursuant to this Section.
d. Notwithstanding anything to the contrary contained herein, Landlord hereby acknowledges and agrees that Tenant shall have no obligation to pay and shall not pay to Landlord any Collocation Fee in connection with: (i) any subleases, licenses, or other collocation agreements between Tenant, or Tenant’s predecessors- in-interest, as applicable, and any third parties, or such third parties’ predecessors or successors- in-interest, as applicable, entered into prior to the Effective Date (any such agreements, the “Existing Agreements”); (ii) any amendments, modifications, extensions, renewals, and/or restatements to and/or of the Existing Agreements entered into prior to the Effective Date or which may be entered into on or after the Effective Date; (iii) any subleases, licenses, or other collocation agreements entered into by and between Tenant and any Additional Collocators for public emergency and/or safety system purposes that are required or ordered by any governmental authority having jurisdiction at or over the Leased Premises; or (iv) any subleases, licenses or other collocation agreements entered into by and between Tenant and any Additional Collocators if the Landlord has entered into any agreements with such Additional Collocators to accommodate such Additional Collocators’ facilities outside of the Leased Premises and such Additional Collocators pay any amounts (whether characterized as rent, additional rent, use, occupancy or other types of fees, or any other types of monetary consideration) to Landlord for such use.
Appears in 1 contract
Samples: Commercial Lease Agreement
Revenue Share. a. Subject to the other applicable terms, provisions, and conditions of this Section, Tenant shall pay Landlord ten twenty percent (1020%) of any rents actually received by Tenant under and pursuant to the terms and provisions of any new sublease, license or other collocation agreement for the use of any portion of the Leased Premises entered into by and between Tenant and a third party (any such third party, the “Additional Collocator”) subsequent to the Effective Date (any such amounts, the “Collocation Fee”). Notwithstanding the foregoing, Landlord shall not be entitled to receive any portion of any sums paid by a licensee or sublessee to reimburse Tenant, in whole or in part, for any improvements to the Leased Premises or any structural enhancements to the tower located on the Leased Premises (such tower, the “Tower”), or for costs, expenses, fees, or other charges incurred or associated with the development, operation, repair, or maintenance of the Leased Premises or the Tower. The Collocation Fee shall not be subject to the escalations to Rent as delineated in this Amendment and/or the Lease. To the extent the amount of rents actually received by Tenant from an Additional Collocator escalate or otherwise increase pursuant to those agreements, the Collocation Fee shall be based on such increased amount.
b. The initial payment of the Collocation Fee shall be due within thirty (30) days of actual receipt by Tenant of the first collocation payment paid by an Additional Collocator. In the event a sublease or license with an Additional Collocator expires or terminates, Tenant’s obligation to pay the Collocation Fee for such sublease or license shall automatically terminate upon the date of such expiration or termination. Notwithstanding anything contained herein to the contrary, Tenant shall have no obligation to pay to Landlord and Landlord hereby agrees not to demand or request that Tenant pay to Landlord any Collocation Fee in connection with the sublease to or transfer of Tenant’s obligations and/or rights under the Lease, as modified by this Amendment, to any subsidiary, parent or affiliate of Tenant.
c. Landlord hereby acknowledges and agrees that Xxxxxx Tenant has the sole and absolute right to enter into, renew, extend, terminate, amend, restate, or otherwise modify (including, without limitation, reducing rent or allowing the early termination of) any future or existing subleases, licenses or collocation agreements for occupancy on the Tower, all on such terms as Tenant deems advisable, in Tenant’s sole and absolute discretion, notwithstanding that the same may affect the amounts payable to the Landlord pursuant to this Section.
d. Notwithstanding anything to the contrary contained herein, Landlord hereby acknowledges and agrees that Tenant shall have no obligation to pay and shall not pay to Landlord any Collocation Fee in connection with: (i) any subleases, licenses, or other collocation agreements between Tenant, or Tenant’s predecessors- in-interest, as applicable, and any third parties, or such third parties’ predecessors or successors- in-interest, as applicable, entered into prior to the Effective Date (any such agreements, the “Existing Agreements”); (ii) any amendments, modifications, extensions, renewals, and/or restatements to and/or of the Existing Agreements entered into prior to the Effective Date or which may be entered into on or after the Effective Date; (iii) any subleases, licenses, or other collocation agreements entered into by and between Tenant and any Additional Collocators for public emergency and/or safety system purposes that are required or ordered by any governmental authority having jurisdiction at or over the Leased Premises; or (iv) any subleases, licenses or other collocation agreements entered into by and between Tenant and any Additional Collocators if the Landlord has entered into any agreements with such Additional Collocators to accommodate such Additional Collocators’ facilities outside of the Leased Premises and such Additional Collocators pay any amounts (whether characterized as rent, additional rent, use, occupancy or other types of fees, or any other types of monetary consideration) to Landlord for such use.
Appears in 1 contract
Samples: Standard Lease Agreement