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14 - Ground & Tower Lease Agreement with New Cingular Wireless for East Water Tower
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14 - Ground & Tower Lease Agreement with New Cingular Wireless for East Water Tower
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rent as of the date of such termination. <br />7. ASSIGNMENT AND SUBLETTING <br />A. Except to a "Partner Company," "Affiliate" or "Subsidiary" of TENANT (as defined <br />below), TENANT shall not assign this Lease, or allow it to be assigned, in whole or in part, <br />by operation of law or otherwise, or mortgage or pledge the same, or sublet the Leased <br />Site, or any part thereof, without the prior written consent of OWNER, such consent not to <br />be unreasonably withheld or delayed. <br />B. Each of the partners of TENANT is a Partner Company. An Affiliate of an entity is any <br />entity fifty-one (51 %) or more of the ownership of which is owned, directly or indirectly, by such <br />entity. A Subsidiary of an entity is any entity eighty percent (80%) or more of the ownership of <br />which is owned by such entity. <br />C. TENANT shall be released from any and all liabilities under this Lease which arise after <br />the effective date of any assignment of this Lease by TENANT. No consent by Owner to any <br />assignment or sublease by TENANT shall relieve TENANT of any obligation to be performed <br />by TENANT under this lease arising before the assignment or sublease. The consent by <br />OWNER to any assignment or sublease shall not relieve TENANT from the obligation to <br />obtain OWNER's express written consent to any other assignment or sublease. <br />D. Any sale or other transfer, including by consolidation, merger or reorganization, of a <br />majority of the voting stock of TENANT, if TENANT is a corporation, or any sale or other <br />transfer of a majority in interest (whether of profits, losses, capital or voting power) or a majority <br />of the persons comprising the managers of the partnership or managers or members of the <br />limited liability company, if TENANT is a partnership or limited liability company, shall not be <br />an assignment for purposes of this Paragraph 7„ <br />8. FIRE OR OTHER CASUALTY <br />A. if the Tower, or access to it, is damaged or destroyed by a casualty covered by the <br />insurance carried by OWNER, it shall be OWNER's option whether or not to commence <br />appropriate repairs (to be diligently prosecuted to completion entirely at OWNER's expense). <br />If OWNER decides to repair the Tower, this Lease shall continue in full force and effect. If, <br />however, the Tower is damaged to the extent that OWNER decides not to repair it, OWNER <br />shall deliver written notice to TENANT, within thirty (30) days after the casualty, of OWNER's <br />election not to repair, restore and/or reconstruct the TOWER but to designate a site on which <br />TENANT may relocate in accordance with Paragraph 8.0 below. If, as a result of any such <br />casualty, any portion of the Leased Site becomes totally or partially unusable by TENANT, rent <br />shall abate during the period of repair in the same proportion to the total rent as the portion of <br />the Leased Site rendered unusable bears to the entirety of the Leased Site. <br />B. If OWNER (i) undertakes the repair, restoration and/or reconstruction of the Tower or <br />of any access thereto but fails to complete such repair, restoration and/or reconstruction <br />within forty-five (45) days afterthe casualty, (ii) notifies TENANT of OWNER's intention not to <br />repair restore and/or reconstruct the Tower, or (iii) fails to deliver to TENANT the written <br />81 P a g e <br />
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