Apr 23, 2015 - 02:17 PM
Today, most proposed cell tower leases contain right of first refusal clauses that limit the Lessor's (e.g., the landowner's) right to sell the property or the lease without giving the Lessee (e.g., the tower owner/wireless carrier) the right to match the offer. The wireless carriers have a legitimate concern about third parties buying out their leases via a cell tower lease buyout. (Link to cell tower lease buyouts page) However, in most leases, the language in the Right of First Refusal is overly broad and could end up being very restrictive in the event of a regular sale of the property. This language should be narrowly drafted so as only to include the sale of the lease itself and only to companies that own or operate towers or that buy leases.