American Tower sent me a "Lease Extension" Proposal, and I need help understanding the terms.
One of the terms of the Proposed Amendment that I would agree to if I sign says "Additional lease terms to update the Agreement to update the Agreement to industry standard language pending American Tower legal review." What does this mean and will I be signing my rights away if I agree to this? Can they change the language any time they want?
Any time that American Tower or CCI or any company wants to adds ambiguous language in a letter agreement, the landowner should ask for clarification of what “industry standard” language consists of. Industry standard to me means language that is only advantageous to the industry participant of the equation, not the landowner. Our advice in this matter is likely similar to advice any lawyer would give you, which is to get specifics before agreeing to any possible future changes that could happen at the tower company's leisure.