Common use of Tower Bonds Clause in Contracts

Tower Bonds. (a) Unless and until the Tower Operator has exercised its purchase option under the MPL with respect to any MPL Site, the applicable Verizon Lessor shall use its commercially reasonable efforts to maintain or replace all Tower Bonds that are in existence as of the Initial Closing Date with respect to such MPL Site (and provide the Tower Operator copies of any such replacement), unless any such Tower Bond is no longer required with respect to such Site; provided, however, that Tower Operator shall promptly reimburse such Verizon Lessor for the cost and expense of maintaining or replacing such Tower Bonds. The Verizon Contributors and their respective Affiliates will have no obligation to maintain any Tower Bonds with respect to an MPL Site following the exercise by the Tower Operator of the purchase option with respect to such MPL Site. (b) Unless and until any non-Assignable Site is converted to an Assignable Site and a Subsequent Closing with respect to such Site is held in accordance with Section 2.6, the applicable Verizon Party shall use its commercially reasonable efforts to maintain or replace all Tower Bonds that are in existence as of the Initial Closing Date with respect to such Site (and provide the Sale Site Subsidiaries copies of any such replacement), unless any such Tower Bond is no longer required with respect to such Site; provided, however, that Tower Operator shall promptly reimburse such Verizon Party for the cost and expense of maintaining or replacing such Tower Bonds. With respect to any Sale Site, no later than the date which is six months following the applicable Closing Date in the case of an Assignable Site, or six months following the applicable Subsequent Closing Date in the case of any Non-Assignable Site converted to an Assignable Site, Acquiror shall, or shall cause the applicable Sale Site Subsidiary to, at its own cost and expense, (i) cause all Tower Bonds with respect to such Assignable Site to be replaced and, to the extent applicable, terminated and discharged (including when any such Tower Bond expires or becomes subject to renewal during such six-month period), and (ii) cause all funds, property or other collateral related to such Tower Bonds that are actually received by such Sale Site Subsidiary to be promptly returned and paid to the applicable Verizon Contributor. The Verizon Contributors and their respective Affiliates will have no obligation to maintain any Tower Bonds with respect to such Assignable Sites following the expiration of the applicable six-month period.

Tower Bonds. (a) Unless and until the Tower Operator has exercised its purchase option under the MPL with respect to any MPL Site, the applicable Verizon Lessor AT&T Newco shall use its commercially reasonable efforts to maintain or replace all Tower Bonds that are in existence as of the Initial Closing Date with respect to such MPL Site (and provide the Tower Operator copies of any such replacement), unless any such Tower Bond is no longer required with respect to such Site; provided, however, that Tower Operator shall promptly reimburse such Verizon Lessor for the cost and expense of maintaining or replacing such Tower Bonds. The Verizon AT&T Contributors and their respective Affiliates will have no obligation to maintain any Tower Bonds with respect to an MPL Site following the exercise by the Tower Operator of the purchase option with respect to such MPL Site. (b) Unless and until any non-Assignable Site is converted to an Assignable Site and a Subsequent Closing with respect to such Site is held in accordance with Section 2.6, the applicable Verizon AT&T Party shall use its commercially reasonable efforts to maintain or replace all Tower Bonds that are in existence as of the Initial Closing Date with respect to such Site (and provide the Sale Site Subsidiaries copies of any such replacement), unless any such Tower Bond is no longer required with respect to such Site; provided, however, that Tower Operator shall promptly reimburse such Verizon Party for the cost and expense of maintaining or replacing such Tower Bonds. With respect to any Sale Site, no later than the date which is six months following the applicable Closing Date in the case of an Assignable Site, or six months following the applicable Subsequent Closing Date in the case of any Non-Assignable Site converted to an Assignable Site, Acquiror shall, or shall cause the applicable Sale Site Subsidiary to, at its own cost and expense, (i) cause all Tower Bonds with respect to such Assignable Site to be replaced and, to the extent applicable, terminated and discharged (including when any such Tower Bond expires or becomes subject to renewal during such six-month period), and (ii) cause all funds, property or other collateral related to such Tower Bonds that are actually received by such Sale Site Subsidiary to be promptly returned and paid to the applicable Verizon AT&T Contributor. The Verizon AT&T Contributors and their respective Affiliates will have no obligation to maintain any Tower Bonds with respect to such Assignable Sites following the expiration of the applicable six-month period.

Tower Bonds. (a) Unless and until the Tower Operator has exercised its purchase option under the MPL with respect to any MPL Site, the applicable Verizon Lessor T-Mobile SPE shall use its commercially reasonable efforts to maintain or replace all Tower Bonds that are in existence as of the Initial Closing Date with respect to such MPL Site (and provide the Tower Operator copies of any such replacementsame), unless any such Tower Bond is no longer required with respect to such Site; provided, however, that Tower Operator shall promptly reimburse such Verizon Lessor for the cost and expense of maintaining or replacing such Tower Bonds. The Verizon Contributors and their respective Affiliates will have no obligation to maintain any Tower Bonds with respect to an MPL Site following the exercise by the Tower Operator of the purchase option with respect to such MPL Site. (b) Unless and until any nonNon-Assignable Site is converted to an Assignable Site and a Subsequent Technical Closing with respect to such Site is held in accordance with Section 2.62.7, the applicable Verizon T-Mobile Party shall use its commercially reasonable efforts to maintain or replace all Tower Bonds that are in existence as of the Initial Applicable Closing Date with respect to such Site (and provide the Sale Site Subsidiaries (or their designees) copies of any such replacementsame), unless any such Tower Bond is no longer required with respect to such Site; provided, however, that Tower Operator shall promptly reimburse such Verizon Party for the cost and expense of maintaining or replacing such Tower Bonds. With respect to any Sale Site, no later than the date which is six months following the applicable Applicable Closing Date in the case of an Assignable Site, or six months following the applicable Subsequent Technical Closing Date in the case of any Non-Assignable Site converted to an Assignable Site, Acquiror shall, or shall cause the applicable Sale Site Subsidiary toshall, at its own cost and expense, (i) cause all Tower Bonds with respect to such Assignable Site to be replaced and, to the extent applicable, terminated and discharged (including when any such Tower Bond expires or becomes subject to renewal during such six-month period), and (ii) cause all funds, property or other collateral related to such Tower Bonds that are actually received by such Sale Site Subsidiary to be promptly returned and paid to the applicable Verizon ContributorT-Mobile Contributors. The Verizon T-Mobile Contributors and their respective Affiliates will have no obligation to maintain any Tower Bonds with respect to such Assignable Sites following the expiration of the applicable six-month period.. 76 SECTION 9.16 Delivery of Rule 3-14