Supporting Documentation · Date unavailable
169-10 Contract
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Show all pagesNotices. All notices hereunder must be in writing and are effective only when deposited in the U.S. mail, certified and postage prepaid, or when sent via overnight delivery. The notices shall be sent to Lessor at Lessor’s Notice Address and to Lessee at Lessee’s Notice Address. Partial Invalidity. If any term of this Agreement is found to be void or invalid, then such invalidity shall not affect the remaining terms of this Agreement, which shall continue in full force and effect. IRS Form W-9. Lessor agrees to provide Lessee with a completed IRS Form W-9, or its equivalent, upon execution of this Agreement and at such other times as may be reasonably requested by Lessee. In the event the Property is transferred, the succeeding Lessor shall have a duty at the time of such transfer to provide Lessee with a completed IRS Form W-9, or its equivalent, and other related paper work to effect a transfer in Rent to the new Lessor. Lessor’s failure to provide the IRS Form W-9 within thirty (30) days after Lessee’s request shall be considered a default and Lessee may take any reasonable action necessary to comply with IRS regulations including, but not limited to, withholding applicable taxes from Rent payments. 1. Additional Provisions. (A) Lessor and Lessee agree that simultaneously with the execution of this Agreement, Lessor shall assign to Lessee all of Lessor’s right, title and interest as lessor in the Existing Ground Leases pursuant to a separate assignment document for each such Existing Ground Lease. The assignment agreement for each Existing Ground Lease shall be in substantially the form attached hereto as Exhib it “D”. Such assignment shall include the right to all rents under each of the Existing Ground Leases and during the Lease Term, Lessee shall: (i) hold all right, title and interest in the Existing Ground Leases, and shall have the sole and exclusive right to bill, collect and keep all rent from same; (ii) be the exclusive point of contact for all lessees or licensees under the Existing Ground Leases, and use commercially reasonable efforts to respond to all inquiries and communications from same; and (iii) not hold itself out as Lessor’s agent or attorney-in-fact, unless and to the extent expressly authorized by Lessor under this Agreement or in writing. Each such
mmunications from same; and (iii) not hold itself out as Lessor’s agent or attorney-in-fact, unless and to the extent expressly authorized by Lessor under this Agreement or in writing. Each such assignment shall be for the Lease Term of this Agreement, and upon the expiration or termination of the Lease Term of this Agreement, the right, title and interest of Lessor in the Existing Ground Leases shall revert back to the Lessor, except for the Stagg Lease (as defined below) and the Fire House #1 Lease (as defined below) with Sprint Spectrum, L.P., its successors or assigns, as Lessee shall continue to receive all rents from said Existing Ground Leases as was such arrangement prior to this Agreement. Lessee shall prepare an assignment to Lessor for each Existing Ground Lease and any Sublease upon the expiration or termination of the Lease Term. (B) In the event Lessee enters into one or more Subleases with an unaffiliated third party during the Lease Term pursuant to Section 24 of this Agreement, Lessee shall pay to Lessor fifty percent (50%) of the rental, license or similar payments actually received by Lessee (excluding any reimbursement of taxes, construction costs, installation costs, revenue share reimbursement or other expenses actually incurred by Lessee (“Reimbursements”)) within thirty (30) days after receipt of said payment by Lessee. Lessee shall have no obligation for payment to Lessor of such share of rental, license or other similar payments if not actually received by Lessee. Non-payment of such rental, license or other similar payment by a sublessee, licensee or other occupant shall not be a default under this Agreement. Lessee shall have the sole discretion as to whether, and on what terms, to enter into a Sublease of all or any portion of the Leased Premises, but there shall be no express or implied obligation of Lessee to do so. Upon expiration of the Lease Term, Lessee shall assign its interest in the Subleases to Lessor and one hundred percent (100%) of all of such rental, license or other similar payments for a Sublease shall be paid directly by said sublessee, licensee or other similar occupant directly to Lessor pursuant to the applicable Sublease. To the extent there are any Reimbursements, Lessee shall keep an accurate accounting of same, including, without
or other similar occupant directly to Lessor pursuant to the applicable Sublease. To the extent there are any Reimbursements, Lessee shall keep an accurate accounting of same, including, without limitation, for which tenant, subtenant or licensee such Reimbursement was from, and what effect, if any, any Reimbursement has on the payments due to Lessor under this Paragraph 27(B). Lessee shall provide an accounting of same PPAB 1693726v5 8 West Orange; BU878830
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- Sep 29, 2026
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