Document:

Management Agreement

 EXHIBIT 10.1 
  
 CONFORMED COPY 
  
 MANAGEMENT AGREEMENT 
  
 between 
  
 CROWN CASTLE TOWERS LLC AND 
 THE SUBSIDIARIES THEREOF LISTED ON THE SIGNATURE
PAGES, 
  
 collectively, as Owners, 
  
 and 
  
 CROWN CASTLE USA, INC. 
  
 as Manager 
  
 Dated as of June 8, 2005 

 TABLE OF CONTENTS 
  

					
	SECTION 1.	 	Definitions	  	1
			
	SECTION 2.	 	Appointment	  	4
			
	SECTION 3.	 	Tower Site Management Services	  	4
			
	SECTION 4.	 	Administrative Services	  	6
			
	SECTION 5.	 	Operation Standards	  	7
			
	SECTION 6.	 	Authority of Manager	  	7
			
	SECTION 7.	 	Operating Account; Receipts.	  	8
			
	SECTION 8.	 	Budgets	  	9
			
	SECTION 9.	 	Operating Expenses and Capital Expenditures.	  	10
			
	SECTION 10.	 	Compensation	  	10
			
	SECTION 11.	 	Employees	  	11
			
	SECTION 12.	 	Books, Records and Inspections	  	12
			
	SECTION 13.	 	Insurance Requirements	  	12
			
	SECTION 14.	 	Environmental.	  	13
			
	SECTION 15.	 	Cooperation	  	13
			
	SECTION 16.	 	Representations and Warranties of Manager	  	14
			
	SECTION 17.	 	Representations and Warranties of Owners	  	15
			
	SECTION 18.	 	Restrictions on Other Activities of Manager	  	16
			
	SECTION 19.	 	Removal or Substitution of Tower Sites	  	17
			
	SECTION 20.	 	Term of Agreement.	  	17
			
	SECTION 21.	 	Duties Upon Termination	  	19
			
	SECTION 22.	 	Indemnities.	  	19
			
	SECTION 23.	 	Miscellaneous.	  	20

  

 i 

 LIST OF SCHEDULES AND EXHIBITS 
  

			
	Schedule I	 	List of Tower Sites
	Exhibit A	 	Initial Budget
	Exhibit B	 	Form of Manager Report

  

 ii 

 MANAGEMENT AGREEMENT 
  
 THIS MANAGEMENT AGREEMENT is entered into as of June 8, 2005 (the “Effective Date”) by and between
each of the entities listed on the signature pages hereto under the heading “Owners” (collectively, the “Owners”) and Crown Castle USA, Inc., a Pennsylvania corporation (the “Manager”). 
  
 SECTION 1. Definitions. All capitalized terms used in this Agreement
and not defined herein shall have the meanings ascribed to them in the Indenture. As used in this Agreement, the following terms shall have the following meanings: 
  
 “Administrative Services” has the meaning specified in Section 4. 
  
 “Affiliate” has the meaning specified in the Indenture.

  
 “Agreement” means this Management Agreement
together with all amendments hereof and supplements hereto. 
  
 “Asset Entities” has the meaning specified in the Indenture. 
  
 “Budget” means the Operating Budget or the CapEx Budget. 
  
 “Business Day” has the meaning specified in the Indenture. 
  
 “CapEx Budget” has the meaning specified in the Indenture. 
  
 “Capital Expenditures” has the meaning specified in the
Indenture. 
  
 “Collateral Account” has the
meaning specified in the Indenture. 
  
 “DSCR”
has the meaning specified in the Indenture. 
  
 “Easement” has the meaning specified in the Indenture. 
  
 “Effective Date” has the meaning specified in the first paragraph of this Agreement. 
  
 “Environmental Laws” has the meaning specified in the Indenture. 
  
 “ERISA” means the Employee Retirement Income Security Act of 1974, and all rules and regulations
promulgated thereunder. 
  
 “Expiration Date”
means July 8, 2005, as such date may be extended from time to time pursuant to Section 20. 
  

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 “Extension Notice” has the meaning specified in Section 20. 
  
 “FAA” means the Federal Aviation Administration. 

 
 “FCC” means the Federal Communications Commission.

  
 “Ground Leases” has the meaning specified in
the Indenture. 
  
 “Hazardous Material” has the
meaning specified in the Indenture. 
  
 “Impositions” has the meaning specified in the Indenture. 
  
 “Impositions and Insurance Reserve” has the meaning specified in the Indenture. 
  
 “Indenture” means the Indenture dated as of the date hereof among the Issuers named therein and JPMorgan Chase Bank, N.A. as Indenture
Trustee. 
  
 “Indenture Trustee” has the meaning
specified in the Indenture. 
  
 “Issuer Entity”
means Crown Castle Towers LLC, a Delaware limited liability company. 
  
 “Insurance Policies” has the meaning specified in the Indenture. 
  
 “Insurance Premiums” has the meaning specified in the Indenture. 
  
 “Lock Box Accounts” has the meaning specified in the Indenture. 
  
 “Managed Tower Site” means a Tower Site subject to a Tower Site Management Agreement. 
  
 “Management Fee” has the meaning specified in Section 10.

  
 “Manager” has the meaning specified in the
first paragraph of this Agreement. 
  
 “Master
Agreement” means a master lease agreement, master license agreement or comparable agreement applicable to a Tenant lease, license or similar arrangement related to the use of capacity on more than one Tower Site, and shall include the site
license agreements, site designation supplements, annexes, schedules, supplements or similar instruments pursuant to which a particular Tower Site is made subject to such Master Agreement. 
  
 “Material Adverse Effect” has the meaning specified in the
Indenture. 
  
 “Operating Account” has the
meaning specified in Section 7(a). 
  
 “Operating
Budget” has the meaning specified in the Indenture. 
  

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 “Operating Expenses” has the meaning specified in the Indenture. 
  
 “Operating Revenues” has the meaning specified in the
Indenture. 
  
 “Operation Standards” means the
standards for the performance of the Services set forth in Section 5. 
  
 “Other Activities” has the meaning specified in Section 18. 
  
 “Owners” has the meaning specified in the first paragraph of this Agreement. 
  
 “Payment Date” has the meaning specified in the Indenture. 
  
 “Permitted Investments” has the meaning specified in the Indenture. 
  
 “Permitted Operations” has the meaning specified in Section
18. 
  
 “Person” has the meaning specified in the
Indenture. 
  
 “Rating Agencies” has the meaning
specified in the Indenture. 
  
 “Rating Agency
Confirmation” has the meaning specified in the Indenture. 
  
 “Receipts” has the meaning specified in the Indenture. 
  
 “Records” has the meaning specified in Section 12. 
  
 “Servicer” has the meaning specified in the Servicing Agreement. 
  
 “Services” means, collectively, the Tower Site Management Services and the Administrative Services.

  
 “Servicing Agreement” means the Servicing
Agreement dated as of the date hereof, by and between the Indenture Trustee and the Servicer. 
  
 “Space License” has the meaning specified in the Indenture and shall in any event include all Master Agreements. 
  
 “Tenant” means a tenant or licensee under a Space License. 
  
 “Term” has the meaning specified in Section 20. 

 
 “Tower Site Management Agreement” has the meaning
specified in the Indenture. 
  
 “Tower Site Management
Services” has the meaning specified in Section 3. 
  

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 “Tower Sites” means each tower, rooftop or other telecommunication site operated by the
Asset Entities, including those listed on Schedule I hereto as modified from time to time pursuant to Section 19. 
  
 “Transaction Documents” has the meaning specified in the Indenture. 
  
 References to “Articles”, “Sections”, “Subsections”,
“Exhibits” and “Schedules” shall be to Articles, Sections, Subsections, Exhibits and Schedules, respectively, of this Agreement unless otherwise specifically provided. Any of the terms defined in this Section 1 may,
unless the context otherwise requires, be used in the singular or the plural depending on the reference. In this Agreement, “hereof”, “herein”, “hereto”, “hereunder” and the like
mean and refer to this Agreement as a whole and not merely to the specific article, section, subsection, paragraph or clause in which the respective word appears; words importing any gender include the other genders; references to
“writing” include printing, typing, lithography and other means of reproducing words in a tangible visible form; the words “including”, “includes” and “include” shall be deemed to
be followed by the words “without limitation”; and any reference to any statute or regulation may include any amendments of same and any successor statutes and regulations. Further, (i) any reference to any agreement or other document may
include subsequent amendments, assignments, and other modifications thereto, and (ii) any reference to any Person may include such Person’s respective permitted successors and assigns or, in the case of governmental Persons, Persons succeeding
to the relevant functions of such Persons. 
  
 SECTION 2.
Appointment; Authority of Certain Owners. On the terms and conditions set forth therein, each Owner hereby engages the Manager to perform the Services as described herein. The Manager hereby accepts such engagement. The Manager is an
independent contractor, and nothing in this Agreement or in the relationship of any Owner and the Manager shall constitute a partnership, joint venture or any other similar relationship. 
  
 SECTION 3. Tower Site Management Services. During the Term, the Manager shall, subject to the terms hereof, perform
those functions reasonably necessary to maintain, market, operate, manage and administer the Tower Sites (collectively, the “Tower Site Management Services”), all in accordance with the Operation Standards. Without limiting the
generality of the foregoing, the Manager will have the following specific duties in relation to the Tower Sites: 
  
 (a) Marketing/Leasing of Tower Sites. The Manager shall use commercially reasonable efforts to market and procure Space Licenses with third party
customers for the Tower Sites, including locating potential Tenants, negotiating Space Licenses with such Tenants and executing and/or brokering Space Licenses as agent for the Owners. The Manager shall have complete authority to negotiate all of
the terms of each Space License, both economic and non-economic, as well as complete authority to negotiate and execute amendments and other modifications thereto in the name of or on behalf of the Owners; provided, however, that the
terms of any Space License or amendment or modification thereof shall be on commercially reasonable terms and in accordance with the Operation Standards. In furtherance of the foregoing, the Owners specifically authorize the Manager to develop,
operate and maintain 
  

 4 

 marketing materials, including an internet website, pursuant to which the Tower Sites will be marketed as an integrated
network (including other telecommunication facilities owned or operated by the Manager or its Affiliates other than the Owners), recognizing that such marketing efforts may not identify the particular Owner of a particular Tower Site. 
  
 (b) Tower Site Operations. The Manager shall monitor and manage each
Owner’s property rights associated with the Tower Sites, make periodic inspections of the Tower Sites for needed repairs, arrange for all such repairs the Manager determines to be necessary or appropriate, and otherwise provide for the
maintenance of the Tower Sites, including using commercially reasonable efforts to ensure that Tenants install their equipment in accordance with the terms of the relevant Space License and that all Tower Sites are maintained in compliance in all
material respects with FAA and FCC regulations, any other applicable laws, rules and regulations, the terms of any applicable Ground Lease, Easement and Tower Site Management Agreement. The Manager shall arrange for all utilities, services,
equipment and supplies necessary for the management, operation, maintenance and servicing of the Tower Sites in accordance with the terms and conditions of the Space Licenses, the Tower Site Management Agreements and applicable law. All utility
contracts shall be in the name of the applicable Owner with all notices to be addressed to such Owner in care of the Manager, at the Manager’s address. The Manager shall perform on behalf of each Owner any obligation reasonably required of such
Owner pursuant to any utility contract, Tower Site Management Agreement, agency agreement, or other agreement related to the Tower Sites (other than the payment of amounts due from the Owners thereunder, which payments shall be paid out of the
Operating Account as provided herein). If any Owner is obligated to or otherwise undertakes any alterations or improvements to a Tower Site, the Manager shall arrange for such alteration or improvement on the Owner’s behalf and at the
Owner’s expense. 
  
 (c) Administration of Space
Licenses. The Manager shall, on behalf of the Owners (i) maintain a database of the Space Licenses indicating, for each Space License, the amount of all payments due from the Tenant thereunder, the dates on which such payments are due and, in
the case of a Managed Tower Site, the amount of all payments due to or from the counterparty under the relevant Tower Site Management Agreement, (ii) invoice all Rents and Receipts due under the Tower Site Management Agreements and Space Licenses
and otherwise with respect to the Tower Sites, in each case to the extent required by such agreements and licenses, and use commercially reasonable efforts to collect all such Receipts and Rents and other amounts due under the Space Licenses and the
Tower Site Management Agreements and otherwise, (iii) perform all services required to be performed by the Owners under the terms of the Space Licenses and the Tower Site Management Agreements and (iv) otherwise use commercially reasonable efforts
to ensure compliance on the part of the Tenants and the Owners with the terms of each Space License and Tower Site Management Agreement, all in accordance with the Operation Standards. Each Owner hereby authorizes the Manager to take any action the
Manager deems to be necessary or appropriate to enforce the terms of each Space License and Tower Site Management Agreement in accordance with the Operation Standards, including, but not limited to, the right to exercise (or not to exercise) any
right such Owner may have to collect Rent and other amounts due under the Space Licenses (whether through judicial proceedings or otherwise), to terminate any Space License and/or to evict any Tenant. The Manager shall also 
  

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 have the right, in accordance with the Operation Standards, to compromise, settle, and otherwise resolve claims and
disputes with regard to Space Licenses and Tower Site Management Agreements. The Manager may agree to any modification, waiver or amendment of any term of, forgive any payment on, and permit the release of any Tenant on, any Space License pertaining
to the Tower Sites as it may determine to be necessary or appropriate in accordance with the Operation Standards. 
  
 (d) Compliance with Law, Etc. The Manager will take such actions within its reasonable control as may be necessary to comply in all material
respects with any and all laws, ordinances, orders, rules, regulations, requirements, permits, licenses, certificates of occupancy, statutes and deed restrictions applicable to the Tower Sites. Without limiting the generality of the foregoing, the
Manager shall use commercially reasonable efforts to apply for, obtain and maintain, in the name of the respective Owners, or, if required, in the name of the Manager, the licenses and permits reasonably required for the operation of the Tower Sites
as telecommunications sites, or for the management, marketing and operation of the Tower Sites (including such licenses required to be obtained from the FAA and the FCC). The cost of complying with this paragraph shall be the responsibility of the
Owners, shall be considered an Operating Expense, shall be included in the Operating Budget and will be payable out of the Operating Account. 
  
 (e) On the day that is three (3) Business Days prior to each Payment Date, the Manager will furnish to the Issuer Entity and the Servicer a report (the
“Manager Report”) in substantially the form attached as Exhibit B with respect to the periods specified therein. In addition, the Manager will, from time to time upon request, furnish to each Rating Agency such additional
information pertaining to the Tower Sites as such Rating Agency may reasonably request. 
  
 SECTION 4. Administrative Services. During the Term of this Agreement, the Manager shall, subject to the terms hereof, provide to each Owner the following administrative services in accordance with the
Operation Standards (collectively, the “Administrative Services”): 
  
 (i) provide to the Owners clerical, bookkeeping and accounting services, including maintenance of general records of the Owners and the
preparation of monthly financial statements, as necessary or appropriate in light of the nature of the Owners’ business and the requirements of the Indenture and the other Transaction Documents; 
  
 (ii) maintain accurate books of account and records of the
transactions of each Owner, render statements or copies thereof from time to time as reasonably requested by such Owner and assist in all audits of such Owner; 
  

(iii) prepare and file, or cause to be prepared and filed, all franchise, withholding, income and other tax returns of such Owner
required to be filed by it and arrange for any taxes owing by such Owner to be paid to the appropriate authorities out of funds of such Owner available for such purpose, all on a timely basis and in accordance with applicable law; 
  

 6 

 (iv) administer such Owner’s performance under the Indenture and the other
Transaction Documents, including (A) preparing and delivering on behalf of such Owner such opinions of counsel, officers’ certificates, financial statements, reports, notices and other documents as are required under such Indenture and the
other Transaction Documents and (B) holding, maintaining and preserving such Indenture and the other Transaction Documents and books and records relating to such Indenture and the other Transaction Documents and the transactions contemplated or
funded thereby, and making such books and records available for inspection in accordance with the terms of such Indenture and the other Transaction Documents; 
  

(v) take all actions on behalf of such Owner as may be necessary or appropriate in order for such Owner to remain duly organized and
qualified to carry out its business under applicable law, including making all necessary or appropriate filings with federal, state and local authorities under corporate and other applicable statutes; and 
  
 (vi) managing all litigation instituted by or against such
Owner, including retaining on behalf of and for the account of such Owner legal counsel to perform such services as may be necessary or appropriate in connection therewith and negotiating any settlements to be entered into in connection therewith.

  
 (b) The Owners acknowledge that, for tax purposes, the Manager
will allocate the value of its services among the Owners on a basis determined by the Manager in its reasonable discretion and the Owners agree to be bound by such allocation and to file tax returns on a basis consistent with such allocation.

  
 SECTION 5. Operation Standards. The Manager shall
perform the Services in accordance with and subject to the terms of the Indenture and the other Transaction Documents, the Space Licenses, the Tower Site Management Agreements, the Ground Leases, Easements, and applicable law and, to the extent
consistent with the foregoing, (i) using the same degree of care, skill, prudence and diligence that the Owners employed in the management of their Tower Sites and operations prior to the date hereof and that the Manager uses for other sites it
manages and (ii) with the objective of maximizing revenue and minimizing expenses on the Tower Sites. The Tower Site Management Services shall be of a scope and quality not less than those generally performed by first class professional managers of
properties similar in type and quality to the Tower Sites and located in the same geographical market areas as the Tower Sites. The Manager hereby acknowledges that it has received a copy of the Indenture and the other Transaction Documents and
agrees not to take any action or fail to take any action that would cause the Owners to be in default thereunder. 
  
 SECTION 6. Authority of Manager. During the Term, the parties recognize that the Manager will be acting as the exclusive agent of the Owners with
regard to the Services described herein. Each Owner hereby grants to the Manager the exclusive right and authority, 
  

 7 

 and hereby appoints the Manager as its true and lawful attorney-in-fact, with full authority in the place and stead of
such Owner and in the name of such Owner, to negotiate, execute, implement or terminate, as circumstances dictate, for and on behalf of such Owner, any and all Space Licenses, Ground Leases, Tower Site Management Agreements, easements, contracts,
permits, licenses, registrations, approvals, amendments and other instruments, documents, and agreements as the Manager deems necessary or advisable in accordance with the Operation Standards. In addition, the Manager will have full discretion in
determining whether to commence litigation on behalf of an Owner, and will have full authority to act on behalf of each Owner in any litigation proceedings or settlement discussions commenced by or against any Owner. Each Owner shall promptly
execute such other or further documents as the Manager may from time to time reasonably request to more completely effect or evidence the authority of the Manager hereunder, including the delivery of such powers of attorney (or other similar
authorizations) as the Manager may reasonably request to enable it to carry out the Services hereunder. Notwithstanding anything herein to the contrary, the Manager shall not have the right or power, and in no event shall it have any obligation, to
institute, or to join any other Person in instituting, or to authorize a trustee or other Person acting on its behalf or on behalf of others to institute, any bankruptcy, reorganization, arrangement, insolvency, liquidation or receivership
proceedings under the laws of the United States of America or any state thereof with respect to any Owner. 
  
 SECTION 7. Operating Account; Receipts. 
  
 (a) Operating Account. On or prior to the Effective Date, the Manager shall establish, and at all times during the Term of this Agreement shall
maintain, one or more operating bank accounts in the name of an Owner and/or on behalf of one or more Owners (such account or accounts being the “Operating Account”). The Owners shall deposit or cause to be deposited funds into the
Operating Account for the payment of Capital Expenditures and Operating Expenses (other than Impositions and Insurance Premiums that are to be paid from (and to the extent of) available cash on deposit in the Impositions and Insurance Reserve,
pursuant to the Indenture) in accordance with the amounts and timing set forth in the Budgets. At all times during the Term of this Agreement the Manager shall have full access to the Operating Account for the purposes set forth herein, and all
checks or disbursements from the Operating Account will require only the signature of the Manager. Funds may be withdrawn by Manager from the Operating Account only (i) to pay Operating Expenses and Capital Expenditures in accordance with the terms
hereof, (ii) to withdraw amounts deposited in error and (iii) if the Manager determines, in accordance with the Operation Standards, that the amount on deposit in the Operating Account exceeds the amount required to pay the Operating Expenses and
Capital Expenditures as the same become due and payable, to make such other distributions as the Issuer Entity may direct. The Manager may direct any institution maintaining the Operating Account to invest the funds held therein in one or more
Permitted Investments as the Manager may select in its discretion. All interest and investment income realized on funds deposited therein shall be deposited to the Operating Account. 
  
 (b) Receipts. The Manager shall cause all Receipts for each Asset Entity to be deposited directly into the applicable
Lock Box Account as required by the Indenture and the 
  

 8 

 other Transaction Documents as soon as practicable. The Manager shall cause the Asset Entities which are not Issuers to
make monthly distributions into the Collection Account no later than the last Business Day of each month and as otherwise permitted by the operational agreements of such Asset Entities. To the extent that the Manager holds any Receipts or monies of
the Asset Entities which are not Issuers that are required to be distributed into the Collection Account, whether in accordance with this Agreement or otherwise, the Manager shall be deemed to hold the same in trust for the benefit of the Indenture
Trustee. The Manager acknowledges that (i) the Issuers are obligated under the Transaction Documents to direct all tenants and other persons obligated to pay any rents, operating expenses, taxes, other receipts, profits or other sums payable to the
Issuers directly to the Lock Box Accounts for deposit into the Collection Account and (ii) the Asset Entities which are not Issuers have directed substantially all tenants (and shall direct any tenants they are or become aware have not been so
directed) and other persons obligated to pay any rents, operating expenses, taxes, other receipts, profits or other sums payable to such Asset Entities to pay such amounts directly to lock box accounts maintained for such Asset Entities. The Manager
agrees to comply (and to cooperate with the Asset Entities in complying) with such requirements and directions, and Manager agrees to give no direction to any tenant or other person in contravention of such requirements or directions, nor otherwise
cause any rents or other receipts to be paid to the Asset Entities, the Manager, or any other person, whether at the direction of the Asset Entities or otherwise. In the event Manager shall for any reason receive any of the aforementioned rents,
operating expenses, taxes, other receipts, profits or other sums payable to the Asset Entities, the Manager shall deposit the same within two (2) Business Days of receipt into the applicable Lock Box Account or lock box account, as the case may be.
The Manager hereby disclaims any and all interests in the Collection Account, the Lock Box Account, the lock box accounts (and any Sub-Accounts thereof) and in any of the rents, operating expenses, taxes, other receipts, profits or other sums
payable to the Asset Entities. Upon written notice from the Indenture Trustee or the Servicer that an Event of Default has occurred under the Indenture and/or other Transaction Documents, the Manager agrees to apply rents, operating expenses, taxes,
other receipts, profits or other sums payable to the Asset Entities as instructed by the Servicer (and in the case of the Asset Entities that are not Issuers, subject to the provisions of their respective operating agreements). 
  
 SECTION 8. Budgets. Contemporaneously with the execution and delivery
of this Agreement, the Manager and the Owners have agreed on an initial Operating Budget and CapEx Budget for the current calendar year, copies of which are attached as Exhibit A. On or before February 15 of each year, the Manager shall deliver to
the Issuer Entity and the Servicer an Operating Budget and CapEx Budget for such year (in each case presented on a monthly and annual basis). The Operating Budget shall identify and set forth the Managers’ reasonable estimate, after due
consideration, of all Operating Expenses on a line-item basis consistent with the form of Operating Budget attached as Exhibit A. Each of the parties hereto acknowledges and agrees that the Operating Budget and the CapEx Budget represent an estimate
only, and that actual Operating Expenses and Capital Expenditures may vary from those set forth in the applicable Budget. In the event the Manager determines, in accordance with the Operation Standards, that the actual Operating Expenses or Capital
Expenditures for any year will materially differ from those set forth in the applicable Budget for such year, such Budget shall, at the request of the Manager and subject to the Indenture and the other Transaction Documents, be 
  

 9 

 modified or supplemented as appropriate to reflect such differences. The Manager acknowledges that, from and after the
Anticipated Repayment Date, all Operating Budgets and CapEx Budgets shall be subject to Servicer’s reasonable approval as and to the extent required by the Indenture and the other Transaction Documents. The Manager will furnish a copy of each
Budget to the Servicer at the times required by the Indenture and the other Transaction Documents. 
  
 SECTION 9. Operating Expenses and Capital Expenditures. 
  

(a) The Manager is hereby authorized to incur Operating Expenses and to make Capital Expenditures on behalf of the Owners, the necessity, nature and
amount of which may be determined in Manager’s discretion in accordance with the Operation Standards. The Manager shall use commercially reasonable efforts to incur Operating Expenses and to make Capital Expenditures within the limits
prescribed by the Budgets; provided that the Manager may at any time incur Operating Expenses and make Capital Expenditures in amounts that exceed the Operating Expenses or Capital Expenditures, as the case may be, specified in the applicable
Budget if and to the extent that the Manager determines in accordance with the Operation Standards that it is necessary or advisable to do so. 
  
 (b) The Manager shall maintain accurate records with respect to each Tower Site reflecting the status of real estate and personal property taxes, Ground
Lease payments, Easement payments, insurance premiums and other Operating Expenses payable in respect thereof and shall furnish to the Issuer Entity and the Servicer from time to time such information regarding the payment status of such items as
the Issuer Entity or the Servicer may from time to time reasonably request. The Manager shall arrange for the payment of all such real estate and personal property taxes, Ground Lease payments, Easement payments, insurance premiums and other
Operating Expenses as the same become due and payable out of funds available for that purpose in the Imposition and Insurance Reserve or the Operating Account, as applicable. All Operating Expenses will be funded through the Imposition and Insurance
Reserve or the Operating Account, as applicable, and the Manager shall have no obligation to subsidize, incur, or authorize any Operating Expense that cannot, or will not be paid by or through the Imposition and Insurance Reserve or the Operating
Account. If the Manager determines that the funds on deposit in the Imposition and Insurance Reserve and the Operating Account are not sufficient to pay all Operating Expenses related to the Tower Sites as the same shall become due and payable, the
Manager shall notify the Issuer Entity, the Servicer and the Indenture Trustee of the amount of such deficiency and, subject to the applicable provisions of the Indenture and other Transaction Documents, the Owners shall deposit the amount of such
deficiency therein as soon as practicable. In the event of any such deficiency, the Manager may, in its sole discretion, elect to pay such Operating Expenses out of its own funds, but shall have no obligation to do so. The Owners, jointly and
severally, shall be obligated to pay or reimburse the Manager for all such Operating Expenses paid by the Manager out of its own funds together with interest thereon at the Advance Rate (as defined in the Servicing Agreement). 
  
 SECTION 10. Compensation. In consideration of the Manager’s
agreement to perform the Services described herein, during the Term hereof, the Owners hereby jointly and 
  

 10 

 severally agree to pay to the Manager a fee (the “Management Fee”), on each Payment Date, equal to 10%
of the Operating Revenues for the immediately preceding calendar month. On the day that is 3 (three) Business Days prior to each Payment Date, the Manager shall report to the Owners the Management Fee then due and payable based on the best
information regarding Operating Revenues for the immediately preceding calendar month then available to it. If the Manager subsequently determines that Management Fee so paid to it was less than what should have been paid (based on a re-computation
of the Operating Revenues for such calendar month), then the Management Fee due on the next Payment Date following the date of such determination shall be increased by the amount of the underpayment. If the Manager subsequently determines that
Management Fee so paid to it was higher than what should have been paid (based on a re-computation of the Operating Revenues for such calendar month), then the Management Fee due on the next Payment Date following the date of such determination
shall be reduced by the amount of the overpayment. Upon the expiration or earlier termination of this Agreement as set forth in Section 20, the Manager shall be entitled to receive, on the next succeeding Payment Date, the portion of the Management
Fee which was earned by the Manager through the effective date of such expiration or termination (such earned portion being equal to the product at (a) the total Management Fee that would have been payable for the month in which such expiration or
termination occurred had this Agreement remained in effect multiplied by (b) a fraction, the numerator of which is the number of days in such month through the effective of such expiration or termination, and the denominator of which is the total
number of days in such month). The Manager shall be entitled to no other fees or payments from the Owners as a result of the termination or expiration of this Agreement in accordance with the terms hereof. All expenses necessary to the performance
of the Manager’s duties (other than Operating Expenses, which are payable by the Owners and other expenses specifically identified herein to be paid by the Owners) will be paid from the Manager’s own funds. 
  
 SECTION 11. Employees. The Manager shall employ, supervise and pay at
all times a sufficient number of capable employees as may be necessary for the Manager to perform the Services hereunder in accordance with the Operation Standards. All employees of Manager will be employed at the sole cost of the Manager. All
matters pertaining to the employment, supervision, compensation, promotion, and discharge of such employees are the sole responsibility of Manager, who is, in all respects, the employer of such employees. To the extent the Manager, its designee, or
any subcontractor negotiates with any union lawfully entitled to represent any such employees, it shall do so in its own name and shall execute any collective bargaining agreements or labor contracts resulting therefrom in its own name and not as an
agent for any Owner. The Manager shall comply in all material respects with all applicable laws and regulations related to workers’ compensation, social security, ERISA, unemployment insurance, hours of labor, wages, working conditions, and
other employer-employee related subjects. The Manager is independently engaged in the business of performing management and operation services as an independent contractor. All employment arrangements in connection with the Manager’s
performance of the Services hereunder are therefore solely the Manager’s concern and responsibility, and the Owners shall have no liability with respect thereto. 
  

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 SECTION 12. Books, Records and Inspections. The Manager shall, on behalf of the Owners, keep such
materially accurate and complete books and records pertaining to the Tower Sites and the Services as may be necessary or appropriate under the Operation Standards. Such books and records shall include all Space Licenses, Tower Site Management
Agreements, Ground Leases, Easements, corporate records, monthly summaries of all accounts receivable and accounts payable, maintenance records, Insurance Policies, receipted bills and vouchers (including, but not limited to tax receipts, vouchers,
and invoices), and other documents and papers pertaining to the Tower Sites. All such books and records (“Records”) shall be kept in an organized fashion and in a secure location and separate from records relating to Other
Activities. During the Term, the Manager shall afford to the Owners, the Servicer and the Indenture Trustee access to any Records relating to the Tower Sites and the Services within its control, except to the extent it is prohibited from doing so by
applicable law or the terms of any applicable obligation of confidentiality or to the extent such information is subject to a privilege under applicable law to be asserted on behalf of the Owners. Such access shall be afforded without charge but
only upon reasonable prior written request and during normal business hours at the offices of the Manager designated by it. 
  
 SECTION 13. Insurance Requirements. 
  
 (a) Owner Insurance. The Manager shall maintain, on behalf of the Owners, all Insurance Policies required to be maintained by the Owners pursuant
to the Indenture and other Transaction Documents and such other Insurance Policies as the Manager shall determine to be necessary or appropriate in accordance with the Operation Standards. The Manager shall prepare and present, on behalf of the
Owners, claims under any such insurance policy in a timely fashion in accordance with the terms of such policy. Any payments on such policy shall be made to the Manager as agent of and for the account of the Owners (and on behalf of the Owners, for
the benefit of and to be held in trust for the Indenture Trustee to the extent provided in the Indenture), except as otherwise required by the Indenture and other Transaction Documents. All such payments shall be applied in accordance with the
Indenture and the other Transaction Documents or, if the Indenture and the other Transaction Documents do not specify an application, shall be deposited into the Operating Account. The Manager shall provide to the Indenture Trustee and the Servicer
on behalf of the Owners such evidence of insurance and payments of the premiums thereof required pursuant to the Owners’ obligations under Section 7.05 of the Indenture. 
  
 (b) Manager’s Insurance. The Manager shall maintain, at its own expense, a commercial crime policy and
professional liability insurance policy. Any such commercial crime policy and professional liability insurance shall protect and insure the Manager against losses, including forgery, theft, embezzlement, errors and omissions and negligent acts of
the employees of the Manager and shall be maintained in a form and amount consistent with customary industry practices for managers of properties such as the Tower Sites. The Manager shall be deemed to have complied with this provision if one of its
respective Affiliates has such commercial crime policy and professional liability policy and the coverage afforded thereunder extends to the Manager. Annually, upon request of the Issuer Entity, the Indenture Trustee, or the Servicer, the Manager
shall cause to be delivered to the Issuer Entity, the Indenture Trustee 
  

 12 

 and the Servicer a certification evidencing coverage under such commercial crime policy and professional liability
insurance policy. Any such commercial crime policy or professional liability insurance policy shall not be cancelled without ten days’ prior written notice to the Issuer Entity, the Indenture Trustee and the Servicer. In cases where any Owner
and Manager maintain insurance policies that duplicate coverage, then the policies of such Owner shall provide primary coverage and Manager’s policies shall be excess and non-contributory. 
  
 SECTION 14. Environmental. 
  
 (a) None of the Owners is aware of any material violations of Environmental
Laws at the Tower Sites. 
  
 (b) The Manager shall not consent to
the installation, use or incorporation into the Tower Sites of any Hazardous Materials in violation of applicable Environmental Laws and shall not consent to the discharge, dispersion, release, or storage, treatment, generation or disposal of any
pollutants or toxic or Hazardous Materials in material violation of Environmental Law and covenants and agrees to take reasonable steps to comply in all material respects with the Environmental Laws. 
  
 (c) Manager covenants and agrees (i) that it shall advise the Issuer Entity,
the Indenture Trustee and the Servicer in writing of each notice of any material violation of Environmental Law of which Manager has actual knowledge, promptly after Manager obtains actual knowledge thereof, and (ii) to deliver promptly to the
Issuer Entity, the Indenture Trustee and the Servicer copies of all communications from any Federal, state and local governmental authorities received by Manager concerning any such violation and Hazardous Material on, at or about the Tower Sites.

  
 SECTION 15. Cooperation. Each Owner and the Manager
shall cooperate with the other parties hereto in connection with the performance of any responsibility required hereunder, under the Transaction Documents, or otherwise related to the Tower Sites or the Services. In the case of the Owners, such
cooperation shall include (i) executing such documents and/or performing such acts as may be required to protect, preserve, enhance, or maintain the Tower Sites or the Operating Account, (ii) executing such documents as may be reasonably required to
accommodate a Tenant or its installations, (iii) furnishing to the Manager, on or prior to the Effective Date, all keys, key cards or access codes required in order to obtain access to the Tower Sites, (iv) furnishing to the Manager, on or prior to
the Effective Date, all books, records, files, abstracts, contracts, Space Licenses, Tower Site Management Agreements, materials and supplies, budgets and other Records relating to the Tower Sites or the performance of the Services and (v) providing
to the Manager such other information as Manager considers reasonably necessary for the effective performance of the Services. In the case of the Manager, such cooperation shall include cooperating with the Indenture Trustee, the Servicer, potential
purchasers of any of the Tower Sites, appraisers, sellers of tower sites, auditors and their respective agents and representatives, with the view that such parties shall be able to perform their duties efficiently and without interference.

  

 13 

 SECTION 16. Representations and Warranties of Manager. The Manager makes the following
representations and warranties to the Owners all of which shall survive the execution, delivery, performance or termination of this Agreement: 
  
 (a) The Manager is a corporation duly organized, validly existing and in good standing under the laws of the Commonwealth of Pennsylvania. 
  
 (b) The Manager’s execution and delivery of, performance under, and
compliance with this Agreement, will not violate the Manager’s organizational documents or constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in a material breach of, any
material agreement or other material instrument to which it is a party or by which it is bound. 
  
 (c) The Manager has the full power and authority to own its properties, to conduct its business as presently conducted by it and to enter into and
consummate all transactions contemplated by this Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has duly executed and delivered this Agreement. 
  
 (d) This Agreement, assuming due authorization, execution and delivery by
each of the other parties hereto, constitutes a valid, legal and binding obligation of the Manager, enforceable against the Manager in accordance with the terms hereof, subject to (A) applicable bankruptcy, insolvency, reorganization, moratorium and
other laws affecting the enforcement of creditors’ rights generally, and (B) general principles of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law. 
  
 (e) The Manager is not in violation of, and its execution and delivery of,
performance under and compliance with this Agreement will not constitute a violation of, any law, any order or decree of any court or arbiter, or any order, regulation or demand of any federal, state or local governmental or regulatory authority,
which violation, in the Manager’s good faith and reasonable judgment, is likely to affect materially and adversely either the ability of the Manager to perform its obligations under this Agreement or the financial condition of the Manager.

  
 (f) The Manager’s execution and delivery of, performance
under and compliance with, this Agreement do not breach or result in a violation of, or default under, any material indenture, mortgage, deed of trust, agreement or instrument to which the Manager is a party or by which the Manager is bound or to
which any of the property or assets of the Manager are subject. 
  
 (g) No consent, approval, authorization or order of any state or federal court or governmental agency or body is required for the consummation by the Manager of the transactions contemplated herein, except for those consents, approvals,
authorizations or orders that previously have been obtained. 
  
 (h) No litigation is pending or, to the best of the Manager’s knowledge, threatened against the Manager that, if determined adversely to the Manager, would prohibit the 
  

 14 

 Manager from entering into this Agreement or that, in the Manager’s good faith and reasonable judgment, is likely to
materially and adversely affect either the ability of the Manager to perform its obligations under this Agreement or the financial condition of the Manager. 
  
 SECTION 17. Representations and Warranties of Owners. Each Owner makes the following representations and warranties to the Manager all of which
shall survive the execution, delivery, performance or termination of this Agreement: 
  
 (a) Such Owner is a limited liability company or corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of organization. 
  
 (b) Such Owner’s execution and delivery of, performance under, and
compliance with this Agreement, will not violate such Owner’s organizational documents or constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in a material breach of, any
material agreement or other material instrument to which it is a party or by which it is bound. 
  
 (c) Such Owner has the full power and authority to own its properties, to conduct its business as presently conducted by it and to enter into and
consummate all transactions contemplated by this Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has duly executed and delivered this Agreement. 
  
 (d) This Agreement, assuming due authorization, execution and delivery by
each of the other parties hereto, constitutes a valid, legal and binding obligation of such Owner, enforceable against such Owner in accordance with the terms hereof, subject to (A) applicable bankruptcy, insolvency, reorganization, moratorium and
other laws affecting the enforcement of creditors’ rights generally, and (B) general principles of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law. 
  
 (e) Such Owner is not in violation of, and its execution and delivery of,
performance under and compliance with this Agreement will not constitute a violation of, any law, any order or decree of any court or arbiter, or any order, regulation or demand of any federal, state or local governmental or regulatory authority,
which violation, in such Owner’s good faith and reasonable judgment, is likely to affect materially and adversely either the ability of such Owner to perform its obligations under this Agreement or the financial condition of such Owner.

  
 (f) Such Owner’s execution and delivery of, performance
under and compliance with, this Agreement do not breach or result in a violation of, or default under, any material indenture, mortgage, deed of trust, agreement or instrument to which such Owner is a party or by which such Owner is bound or to
which any of the property or assets of such Owner are subject. 
  
 (g) No consent, approval, authorization or order of any state or federal court or governmental agency or body is required for the consummation by such Owner of the transactions contemplated herein, except for those consents, approvals,
authorizations or orders that previously have been obtained. 
  

 15 

 (h) No litigation is pending or, to the best of such Owner’s knowledge, threatened against such
Owner that, if determined adversely to such Owner, would prohibit such Owner from entering into this Agreement or that, in such Owner’s good faith and reasonable judgment, is likely to materially and adversely affect either the ability of such
Owner to perform its obligations under this Agreement or the financial condition of such Owner. 
  
 SECTION 18. Other Activities. The Manager hereby covenants and agrees that it (i) shall not engage in any business or activities except the
management of tower sites as contemplated hereunder or under other management agreements with Affiliates of the Manager and/or third parties not affiliated with the Manager or any Owner and in business activities other than but related to the
management of wireless telecommunications facilities (including the development and operation of such facilities) (“Permitted Activities”), (ii) shall not incur any indebtedness or other liabilities except for (A) obligations hereunder,
under other management agreements (including salaries and benefits of its officer and employees) and obligations incurred in the ordinary course of business in connection with its Permitted Activities and (iii) that it shall comply in all material
respects with the provisions of its corporate charter and by-laws. The Owners hereby acknowledge and agree that the Manager may engage in Permitted Activities and, as a result, the Manager may engage in business activities that are in competition
with the business of the Owners in respect of the Tower Sites. Nothing in this Agreement shall in any way preclude the Manager or its Affiliates, subsidiaries, officers, employees and agents from engaging in any Permitted Activity (including the
operation, maintenance, leasing and/or marketing of telecommunications sites for itself or for others), even if, by doing so, such activities could be construed to be in competition with the business activities of the Owners; provided that (i) if
the Manager arranges for a Space License of a telecommunication site with a tenant that is also a tenant under a Space License with an Owner, such new Space License will be separate from and independent of the Space License(s) between the tenant and
such Owner, (ii) unless a Tower Site has been disposed of by an Owner in accordance with the Indenture and other Transaction Documents, the Manager will not solicit a tenant to transfer its Space License from a Tower Site owned, leased or managed by
an Owner to a telecommunication site owned, leased or managed by a Person that is not an Owner and (iii) in all cases the Manager shall perform its duties and obligations hereunder in accordance with the Operations Standards notwithstanding any
potential conflicts of interest that may arise, including any relationship that the Manager may have with any other owners of telecommunication sites that it manages. 
  

 16 

 SECTION 19. Removal or Substitution of Tower Sites. If during the Term of this Agreement an Owner
assigns or otherwise transfers all of its right, title and interest in and to any Tower Site to a Person other than another Owner or the Indenture Trustee or a designee of the Indenture Trustee (whether pursuant to a taking under the power of
eminent domain or otherwise) or otherwise ceases to have an interest in a Tower Site, this Agreement shall terminate (as to that Tower Site only) on the date of such assignment or transfer and the Owners shall promptly deliver to Manager an amended
Schedule I reflecting the removal of such Tower Site from the scope of this Agreement. Upon the termination of this Agreement as to a particular Tower Site, the Manager and the respective Owner of such Tower Site shall be released and discharged
from all liability hereunder with respect to such Tower Site for the period from and after the applicable termination date (except for rights and obligations hereunder that are expressly stated to survive such termination) and the Manager shall have
no further obligation to perform any Tower Site Management Services with respect thereto from and after such date. In addition, the Owners may at any time add any additional Tower Site to Schedule I in connection with a substitution or property
addition permitted under the terms of the Indenture, and other Transaction Documents. Upon such substitution or property addition, the Owners shall promptly deliver to Manager an amended Schedule I reflecting the addition of such Tower Site,
whereupon the Manager shall assume responsibility for the performance of the Tower Site Management Services hereunder with respect to such Tower Site. 
  
 SECTION 20. Term of Agreement. 
  
 (a) Term. This Agreement shall be in effect during the period (the “Term”) commencing on the date hereof and ending at 5:00 p.m.
(New York time) on the Expiration Date, unless sooner terminated in accordance with the provisions of this Section 20. The Expiration Date under this Agreement may be extended from time to time at the option of the Issuer Entity (or the Servicer on
its behalf), acting in its sole and absolute discretion, for successive 30-day periods by written notice to that effect to the Manager from the Issuer Entity (or the Servicer on its behalf) delivered on or prior to the then-current Expiration Date
(an “Extension Notice”). Each of the Owners and Manager agrees that if the Issuer Entity fails to deliver an Extension Notice to the Manager by the Expiration Date, the Manager shall, on such Expiration Date, provide the Servicer
with notice of such failure and the Servicer shall have ten (10) Business Days following its receipt of such notice to deliver an Extension Notice to the Manager, and upon delivery of such Extension Notice the Expiration Date shall be extended to
the date falling 30 days after the Expiration Date as in effect immediately prior to such Extension Notice. Upon delivery of an Extension Notice, the then-current Expiration Date shall be automatically extended to the date specified therein without
any further action by any party. 
  
 (b) Termination for
Cause The Issuer Entity (or the Indenture Trustee or the Servicer on its behalf) shall have the right, upon notice to the Manager, to terminate this Agreement: (i) upon the declaration by the Indenture Trustee of an “Event of Default”
under (and as defined in) the Indenture, (ii) if the DSCR falls to less than 1.10x as of the end of any calendar quarter and the Servicer reasonably determines, pursuant to the Servicing Agreement and the Indenture, that such decline in the DSCR is
primarily attributable to acts or omissions of the Manager rather than factors affecting the Owners’ industry generally, (iii) if the Manager has 
  

 17 

 engaged in fraud, gross negligence or willful misconduct arising from or in connection with its performance under this
Agreement or (iv) if the Manager defaults in the performance of the Services hereunder and, with respect to the events specified in clauses (iii) and (iv) such event (A) could reasonably be expected to have a Material Adverse Effect and (B) remains
unremedied for thirty days after the Manager receives written notice thereof from the Servicer; provided, however, if such default is reasonably susceptible of cure, but not within such thirty-day period, then the Manager shall be permitted up to an
additional sixty days to cure such default provided that the Manager diligently and continuously pursues such cure. 
  
 (c) Automatic Termination for Bankruptcy, Etc. If the Manager or any Owner files a petition for bankruptcy, reorganization or arrangement, or makes
an assignment for the benefit of the creditors or takes advantage of any insolvency or similar law, or if a receiver or trustee is appointed for the assets or business of the Manager or any Owner and is not discharged within ninety (90) days after
such appointment, then this Agreement shall terminate automatically; provided that if any such event shall occur with respect to less than all of the Owners, then this Agreement will terminate solely with respect to the Owner or Owners for
which such event has occurred and the respective Tower Sites owned, leased or managed by such Owner(s). Upon the termination of this Agreement as to a particular Owner, the Manager and such Owner shall be released and discharged from all liability
hereunder for the period from and after the applicable termination date (except for rights and obligations hereunder that are expressly stated to survive any termination) and the Manager shall have no further obligation to perform any Services for
such Owner or any Tower Sites owned, leased or managed by such Owner from and after such date. 
  
 (d) Resignation By Manager. Unless and until the Indenture has terminated in accordance with its terms and all Obligations due and owing thereunder and under the other Transaction Documents have been fully
satisfied, the Manager shall not resign from the obligations and duties hereby imposed on it hereunder except upon determination that (i) the performance of its duties hereunder is no longer permissible under applicable law and (ii) there is no
reasonable action which can be taken to make the performance of its duties hereunder permissible under applicable law. Any such determination under clause (d)(i) above permitting the resignation of the Manager shall be evidenced by an opinion of
counsel (who is not an employee of the Manager) to such effect delivered, and in form and substance reasonably satisfactory, to the Issuer Entity and the Servicer. From and after the date on which the Indenture has terminated in accordance with its
terms and all Obligations due and owing thereunder and under the other Transaction Documents have been fully satisfied, the Manager shall have the right in its sole and absolute discretion, upon thirty days’ prior written notice to the Issuer
Entity and the Servicer, to resign at any time from the obligations and duties hereby imposed on it. This Agreement shall terminate on the effective date of any resignation of the Manager permitted under this paragraph (d). 
  

 18 

 SECTION 21. Duties Upon Termination. Upon the expiration or termination of the Term, the Manager
shall have no further right to act for any Owner or to draw checks on the Operating Account and shall promptly (i) furnish to the Issuer Entity or its designee all keys, key cards or access codes required in order to obtain access to the Tower
Sites, (ii) deliver to the Issuer Entity or its designee (x) all rent, income, tenant security deposits and other monies due or belonging to the Owners under this Agreement but received after such termination or (y) any monies or reserves held by
the Manager on behalf of the Indenture Trustee, (iii) deliver to the Issuer Entity or its designee all books, files, abstracts, contracts, Space Licenses, materials and supplies, budgets and other Records relating to the Tower Sites or the
performance of the Services and (iv) upon request, assign, transfer, or convey, as required, to the respective Owners all service contracts and personal property relating to or used in the operation and maintenance of the Tower Sites, except any
personal property which was paid for and is owned by Manager. The Manager shall also, for a period of six months after such expiration or termination, make itself available to consult with and advise the Owners and the Servicer regarding the
operation and maintenance of the Tower Sites or otherwise to facilitate an orderly transition of management to a new manager of the Tower Sites. This Section 21 shall survive the expiration or earlier termination of this Agreement (whether in whole
or part). 
  
 SECTION 22. Indemnities. 
  
 (a) The Owners jointly and severally agree to indemnify, defend and hold
Manager harmless from and against, any and all suits, liabilities, damages, or claims for damages (including any reasonable attorneys’ fees and other reasonable costs and expenses relating to any such suits, liabilities or claims), in any way
relating to the Tower Sites, the Manager’s performance of the Services hereunder, or the exercise by the Manager of the powers or authorities herein or hereafter granted to the Manager, except for those actions, omissions and breaches of
Manager in relation to which the Manager has agreed to indemnify the Owners pursuant to Section 22(b). 
  
 (b) The Manager agrees to indemnify, defend and hold the Owners harmless from and against any and all suits, liabilities, damages, or claims for damages
(including any reasonable attorneys’ fees and other reasonable costs and expenses relating to any such suits, liabilities or claims), in any way arising out of (i) any acts or omissions of the Manager or its agents, officers or employees in the
performance of the Services hereunder constituting fraud, negligence or willful misconduct or (ii) any material breach of any representation or warranty made by the Manager hereunder. 
  
 (c) “Indemnified Party” and “Indemnitor” shall mean the Manager (and its employees,
directors, officers, agents, representatives and shareholders) and Owners, respectively, as to Section 22(a) and shall mean the Owners and Manager, respectively, as to Section 22(b). If any action or proceeding is brought against an Indemnified
Party with respect to which indemnity may be sought under this Section 22, the Indemnitor, upon written notice from the Indemnified Party, shall assume the investigation and defense thereof, including the employment of counsel and payment of all
expenses. The Indemnified Party shall have the right to employ separate counsel in any such action or proceeding and to participate in the defense 
  

 19 

 thereof, but the Indemnitor shall not be required to pay the fees and expenses of such separate counsel unless such
separate counsel is employed with the written approval and consent of the Indemnitor, which shall not be unreasonably withheld or refused. 
  
 (d) The indemnities in this Section 22 shall survive the expiration or termination of the Agreement. 
  
 SECTION 23. Miscellaneous. 
  
 (a) Amendments. No amendment, supplement, waiver or other
modification of this Agreement shall be effective unless in writing and executed and delivered by the Manager and the Owner sought to be bound thereby; provided that, until the Indenture has been terminated in accordance with its terms and
all Obligations due and owing thereunder and under the other Transaction Documents have been fully satisfied, any material amendment, supplement, waiver or other modification of this Agreement shall also require the consent of the Servicer, the
Indenture Trustee and Rating Confirmations from each Rating Agency. No failure by any party hereto to insist on the strict performance of any obligation, covenant, agreement, term or condition of this Agreement, or to exercise any right or remedy
available upon a breach of this Agreement, shall constitute a waiver of any of the terms of this Agreement. The Manager shall not be bound by any amendment, supplement, or other modification to any other Transaction Document which is materially
adverse to the Manager unless the Manager has consented thereto, however the Manager’s consent shall not otherwise be required as a condition for any such amendment, supplement, or other modification to be effective for all other purposes.

  
 (b) Notices. Any notice or other communication required
or permitted hereunder shall be in writing and may be delivered personally or by commercial overnight carrier, telecopied or mailed (postage prepaid via the US postal service) to the applicable party at the following address (or at such other
address as the party may designate in writing from time to time); however, any such notice or communication shall be deemed to be delivered only when actually received by the party to whom it is addressed: 
  

			
	(1) To any Owner	  	510 Bering Drive
	 	  	Suite 500
	 	  	Houston, TX 77057
		
	(2) To Manager:	  	510 Bering Drive
	 	  	Suite 500
	 	  	Houston, TX 77057

  
 (c) Assignment,
Etc. The provisions of this Agreement shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective successors and permitted assigns. None of the rights, interests, duties, or obligations created by this
Agreement may be assigned, transferred, or delegated in whole or in part by the Manager or any Owner, and any such purported assignment, transfer, or delegation shall be void; provided, however, that (i) the Owners may assign this
Agreement to the Indenture Trustee and grant a security interest in their 
  

 20 

 rights and interests hereunder pursuant to the Indenture and the other Transaction Documents and (ii) the Manager may, in
accordance with the Operation Standards, utilize the services of third-party service providers to perform all or any portion of its Services hereunder, provided, further, that the Manager may not use any third party service provider to
prepare any Manager Reports or (except insurance agents) to perform any Services described in Section 9(b) or Section 13(a), without the prior written consent of the Servicer (such consent not to be unreasonably withheld). Notwithstanding the
appointment of a third-party service provider, the Manager shall remain primarily liable to the Owners to the same extent as if the Manager were performing the Services alone, and the Manager agrees that no additional compensation shall be required
to be paid by the Owners in connection with any such third-party service provider. 
  
 (d) Entire Agreement; Severability. This Agreement constitutes the entire agreement between the parties hereto, and no oral statements or prior written matter not specifically incorporated herein shall be of
any force or effect. In the event any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein
and therein shall not in any way be affected or impaired thereby. 
  
 (e) Limitations on Liability. 
  
 (i) Notwithstanding anything herein to the contrary, neither the Manager nor any director, officer, employee or agent of the Manager shall be under any liability to the Owners or any other Person for any action taken, or not taken, in good
faith pursuant to this Agreement, or for errors in judgment; provided, however, that this provision shall not protect the Manager against any liability to the Owners, the Servicer or the Indenture Trustee for the material breach of a
representation or warranty made by the Manager herein or against any liability which would otherwise be imposed on the Manager solely attributable to the Manager’s fraud, negligence or willful misconduct in the performance of the Services
hereunder. 
  
 (ii) No party will be liable to
any other for special, indirect, incidental, exemplary, consequential or punitive damages, or loss of profits, arising from the relationship of the parties or the conduct of business under, or breach of, this Agreement. 
  
 (iii) Notwithstanding any other provision of this Agreement
or any rights which the Manager might otherwise have at law, in equity, or by statute, any liability of an Owner to the Manager shall be satisfied only from such Owner’s interest in the Tower Sites, the Space Licenses, the Tower Site Management
Agreements, the Insurance Policies and the proceeds thereof, and then only to the extent that such Owner has funds available to satisfy such liability in accordance with the Indenture, the related Cash Management Agreement and the other Transaction
Documents, (any such available funds being hereinafter referred to as “Available Funds”). In the event the Available Funds of an Owner are insufficient to pay in full any such liabilities of an Owner, the excess of such liabilities
over such Available Funds shall not constitute a claim (as defined in the United States Bankruptcy Code) against such Owner unless and until a proceeding of the type described in Section 23(i) is commenced against such Owner by a party other than
the Manager. 
  

 21 

 (iv) No officer, director, employee, agent, shareholder, member or Affiliate of any Owner
or the Manager (except, in the case of an Owner, for Affiliates that are also Owners hereunder) shall in any manner be personally or individually liable for the obligations of any Owner or the Manager hereunder or for any claim in any way related to
this Agreement or the performance of the Services. 
  
 (v) The provisions of this Section 23(e) shall survive the expiration or earlier termination of this Agreement (whether in whole or in part). 
  
 (f) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION
5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK BUT OTHERWISE WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES). 
  
 (g) Confidentiality. Each party hereto agrees to keep confidential (and (a) to cause its respective officers, directors and employees to keep
confidential and (b) to use its best efforts to cause its respective agents and representatives to keep confidential) the Information (as defined below) and all copies thereof, extracts therefrom and analyses or other materials based thereon, except
that the parties hereto shall be permitted to disclose Information (i) to the extent required by the Transaction Documents, applicable laws and regulations or by any subpoena or similar legal process, (ii) as requested by Rating Agencies, (iii) to
the extent the Manager reasonably determines disclosure is necessary or advisable to perform services contemplated by this Agreement, (iv) to the extent provided in the Private Offering Memorandum relating to the Notes issued under the Indenture,
(v) to the parties to the Indenture who are subject to the confidentiality provisions contained therein and (vi) to actual or prospective Tenants. For the purposes of this paragraph (g), the term “Information” shall mean the terms and
provisions of this Agreement and all financial statements, certificates, reports, Records, agreements and information (including the Space Licenses, the Tower Site Management Agreements and all analyses, compilations and studies based on any of the
foregoing) that relate to the Tower Sites or the Services, other than any of the foregoing that are or become publicly available other than by a breach of the confidentiality provisions contained herein. 
  
 (h) Issuer Entity as Agent. Each of the Owners hereby appoints the
Issuer Entity to serve as its representative and agent to act, make decisions, and grant any necessary consents or approvals hereunder, collectively, on behalf of such Owner. Each Owner hereby authorizes the Issuer Entity to take such action as
agent on its behalf and to exercise such powers as are delegated to the Issuer Entity by the terms hereof, together with such powers as are reasonably incidental thereto. 
  
 (i) No Petition. Prior to the date that is one year and one day after the date on which the Indenture has been
terminated in accordance with its terms and all Obligations 
  

 22 

 thereunder and under the other Transaction Documents have been fully satisfied, the Manager shall not institute, or join
any other Person in instituting, or authorize a trustee or other Person acting on its behalf or on behalf of others to institute, any bankruptcy, reorganization, arrangement, insolvency, liquidation or receivership proceedings under the laws of the
United States of America or any state thereof against any Owner. 
  
 (j) Headings. Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and are not to effect the construction of, or to be taken into consideration in interpreting,
this Agreement. 
  
 (k) Counterparts. This Agreement may be
executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall constitute an original, but all of which when taken together shall constitute one contract. Delivery of an executed counterpart of this
Agreement by facsimile shall be effective as delivery of a manually executed counterpart of this Agreement. 
  
 [NO ADDITIONAL TEXT ON THIS PAGE] 
  

 23 

 IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the date first
above written. 
  
 Manager: 
  

			
	CROWN CASTLE USA, INC.
		
	By:	 	 /s/ Jay Brown

	Name:	 	Jay Brown
	Title:	 	Vice President

  
 Owners:

  

			
	CROWN CASTLE TOWERS LLC
		
	By:	 	 /s/ Jay Brown

	Name:	 	Jay Brown
	Title:	 	Vice President
	
	CROWN CASTLE SOUTH LLC
		
	By:	 	 /s/ Jay Brown

	Name:	 	Jay Brown
	Title:	 	Vice President
	
	CROWN COMMUNICATION INC.
		
	By:	 	 /s/ Jay Brown

	Name:	 	Jay Brown
	Title:	 	Vice President
	
	CROWN CASTLE PT INC.
		
	By:	 	 /s/ Jay Brown

	Name:	 	Jay Brown
	Title:	 	Vice President

			
	CROWN COMMUNICATION NEW YORK, INC.
		
	By:	 	 /s/ Jay Brown

	Name:	 	Jay Brown
	Title:	 	Vice President
	
	CROWN CASTLE INTERNATIONAL CORP. DE PUERTO RICO
		
	By:	 	 /s/ Jay Brown

	Name:	 	Jay Brown
	Title:	 	Vice President
	
	CROWN CASTLE GT HOLDING SUB LLC
		
	By:	 	 /s/ Jay Brown

	Name:	 	Jay Brown
	Title:	 	Vice President
	
	CROWN CASTLE ATLANTIC LLC
		
	By:	 	 /s/ Jay Brown

	Name:	 	Jay Brown
	Title:	 	Vice PresidentCash Management Agreement

 EXHIBIT 10.2 
  
 CONFORMED COPY 
  

  
 CASH MANAGEMENT AGREEMENT

  
 Dated as of June 8, 2005 
  
 among 
  
 CROWN CASTLE TOWERS LLC 
 CROWN CASTLE SOUTH LLC 
 CROWN COMMUNICATION INC. 
 CROWN CASTLE PT INC. 
 CROWN COMMUNICATION NEW YORK, INC. 
 CROWN CASTLE INTERNATIONAL CORP. DE PUERTO RICO 
 as Issuers, 
  
 CROWN CASTLE GT HOLDING SUB LLC

 CROWN CASTLE ATLANTIC LLC 
 as
Members of Crown Castle GT Company LLC 
 and Crown Atlantic Company LLC, respectively, 
  
 JPMORGAN CHASE BANK, N.A. 
 as Indenture Trustee 
  
 and 
  
 CROWN
CASTLE USA INC. 
 as Manager 
  

 CASH MANAGEMENT AGREEMENT 
  
 CASH MANAGEMENT AGREEMENT (this “Agreement”), dated as of June 8, 2005, among CROWN CASTLE TOWERS LLC, a
Delaware limited liability company (the “Issuer Entity”), CROWN CASTLE SOUTH LLC, a Delaware limited liability company, CROWN COMMUNICATION INC., a Delaware corporation, CROWN CASTLE PT INC., a Delaware corporation, CROWN
COMMUNICATION NEW YORK, INC., a Delaware corporation, CROWN CASTLE INTERNATIONAL CORP. DE PUERTO RICO, a Puerto Rico corporation (collectively, together with the Issuer Entity, the “Issuers”), CROWN CASTLE GT HOLDING SUB LLC, a
Delaware limited liability company, CROWN CASTLE ATLANTIC LLC, a Delaware limited liability company (together with Crown Castle GT Holding Sub LLC, the “Members”), JPMORGAN CHASE BANK, N.A., a national banking association
(“Indenture Trustee”), and CROWN CASTLE USA INC., a Delaware corporation (“Manager”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, pursuant to a certain Indenture, dated as of the date hereof (together with all modifications, substitutions and amendments thereof, the
“Indenture”), between the Issuers and the Indenture Trustee, the Issuers have issued Senior Secured Tower Revenue Notes in principal amount of $1,900,000,000 (the “Notes”); 
  
 WHEREAS, the Notes are secured by the Collateral; 
  
 WHEREAS, pursuant to the Indenture, the Issuers have granted to the Indenture
Trustee a security interest in all of the Issuers’ right, title and interest in, to and under the Receipts (as defined in the Indenture), and have assigned and conveyed to the Indenture Trustee all of the Issuers’ right, title and interest
in, to and under the Receipts (as defined in the Indenture) due and to become due to the Issuers or to which the Issuers are now or may hereafter become entitled, arising out of the Tower Sites or any part or parts thereof; 
  
 WHEREAS, the Asset Entities and Manager have entered into a Management
Agreement with respect to the Tower Sites, dated as of the date hereof, pursuant to which Manager has agreed to manage the Tower Sites; 
  
 WHEREAS, in order to fulfill all of the Issuers’ obligations under the Indenture, the Issuers and Manager have agreed that all Receipts will be
deposited directly into Lock Box Accounts established by the Issuers, and transferred to a Collection Account established under the Indenture by the Issuers, and the Issuer Entity has agreed to cause the Members to pay all distributions made by
Crown Atlantic and Crown GT to the Indenture Trustee for deposit in the Collection Account. All funds deposited in the Collection Account will be allocated and/or disbursed in accordance with the terms and conditions hereof and of the Indenture.

 NOW, THEREFORE, in consideration of the covenants herein contained and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  
 ARTICLE I 
  
 DEFINITIONS 
  
 Capitalized terms not otherwise
defined herein shall have the meaning set forth in the Indenture. As used herein, the following terms shall have the following definitions: 
  
 “Account Control Agreement” shall mean an account control agreement executed by any Issuer for the benefit of the Indenture Trustee with
respect to a Lock Box Account. 
  
 “Advance
Interest” shall have the meaning ascribed to it in the Servicing Agreement. 
  
 “Advance Rents Reserve Deposit” means, collectively, the Annual Advance Rents Reserve Deposit, the Semi-Annual Advance Rents Reserve Deposit and the Quarterly Advance Rents Reserve Deposit.

  
 “Agreement” means this Cash Management
Agreement among the Issuers, the Manager, the Members and the Indenture Trustee, as amended, supplemented or otherwise modified from time to time. 
  
 “Annual Advance Rents Reserve Deposit” means eleven-twelfths (11/12ths) of the amount of Rent paid pursuant to Space Licenses which require that annual Rent due thereunder be paid in advance in each calendar year;
provided, however, if Rents which are required to be delivered as Annual Advance Rents Reserve Deposits are received late, appropriate adjustments shall be made taking into consideration amounts which, but for such late payment of
Rent, would have previously been distributed from the Advance Rents Reserve Sub-Account had such Rents not been paid late. 
  
 “Collateral” as defined in Section 5.01. 
  
 “Extraordinary Expenses” means any extraordinary Operating Expense or Capital Expenditure not set forth in the Operating Budget then in
effect for the Tower Sites. 
  
 “Extraordinary
Receipts” means any receipts of the Asset Entities not included within the definition of Operating Revenues under the Indenture, including, without limitation, receipts from litigation proceedings and tax certiorari proceedings. 

 
 “Issuer Entity” shall have the meaning ascribed to it in
the preamble hereto. 
  
 “Issuers” shall have the
meaning ascribed to it in the preamble hereto. 
  
 “Manager” means Crown Castle USA Inc., a Delaware corporation, together with its successors and permissible assigns. 
  

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 “Manager Report” shall have the meaning ascribed to it in the Management Agreement.

  
 “Members” shall have the meaning ascribed to
it in the preamble hereto. 
  
 “Monthly Debt Service
Payment Amount” means the monthly payment of interest on the Notes required on each Payment Date during the term of the Notes (excluding Post-ARD Additional Interest). 
  
 “Monthly Impositions and Insurance Amount” means the aggregate monthly deposit for the Impositions and
Insurance Premiums required pursuant to Section 4.03 of the Indenture. 
  
 “Permitted Investments” means any one or more of the following obligations or securities acquired at a purchase price of not greater than par (unless the Issuers deposit into the applicable Sub-Account cash in the amount by
which the purchase price exceeds par), including those issued by any Servicer or any of its Affiliates, payable on demand or having a maturity date not later than the Business Day immediately prior to the date on which the invested sums are required
for payment of an obligation for which the related Sub-Account was created and meeting one of the appropriate standards set forth below: 
  
 (i) obligations of, or obligations fully guaranteed as to payment of principal and interest by, the United States or any agency or
instrumentality thereof, provided such obligations are backed by the full faith and credit of the United States of America including, without limitation, obligations of: the U.S. Treasury (all direct or fully guaranteed obligations), the Farmers
Home Administration (certificates of beneficial ownership), the General Services Administration (participation certificates), the U.S. Maritime Administration (guaranteed Title XI financing), the Small Business Administration (guaranteed
participation certificates and guaranteed pool certificates), the U.S. Department of Housing and Urban Development (local authority bonds) and the Washington Metropolitan Area Transit Authority (guaranteed transit bonds); provided,
however, that the investments described in this clause (i) must (A) have a predetermined fixed dollar amount of principal due at maturity that cannot vary or change, (B) if rated by S&P, not have an “r” highlighter affixed to
their rating, (C) if such investments have a variable rate of interest, have an interest rate tied to a single interest rate index plus a fixed spread (if any) and must move proportionately with that index, and (D) not be subject to liquidation
prior to their maturity; 
  
 (ii) Federal Housing
Administration debentures; 
  
 (iii) obligations
of the following United States government sponsored agencies: Federal Home Loan Mortgage Corp. (debt obligations), the Farm Credit System (consolidated systemwide bonds and notes), the Federal Home Loan Banks (consolidated debt obligations), the
Federal National Mortgage Association (debt obligations), the Student Loan Marketing Association (debt 
  

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 obligations), the Financing Corp. (debt obligations), and the Resolution Funding Corp. (debt
obligations); provided, however, that the investments described in this clause (iii) must (A) have a predetermined fixed dollar amount of principal due at maturity that cannot vary or change, (B) if rated by S&P, not have an
“r” highlighter affixed to their rating, (C) if such investments have a variable rate of interest, have an interest rate tied to a single interest rate index plus a fixed spread (if any) and must move proportionately with that index, and
(D) not be subject to liquidation prior to their maturity; 
  
 (iv) federal funds, unsecured certificates of deposit, time deposits, bankers’ acceptances and repurchase agreements with maturities of not more than 365 days of any bank, the short term obligations of which at
all times are rated in the highest short term rating category by each Rating Agency (or, if not rated by all Rating Agencies, rated by at least one Rating Agency in the highest short term rating category and otherwise acceptable to each other Rating
Agency, as confirmed in writing that such investment would not, in and of itself, result in a downgrade, qualification or withdrawal of the initial or, if higher, then current ratings assigned to any class of Notes; provided, however,
that the investments described in this clause (iv) must (A) have a predetermined fixed dollar amount of principal due at maturity that cannot vary or change, (B) if rated by S&P, not have an “r” highlighter affixed to their rating, (C)
if such investments have a variable rate of interest, have an interest rate tied to a single interest rate index plus a fixed spread (if any) and must move proportionately with that index, and (D) not be subject to liquidation prior to their
maturity; 
  
 (v) trust funds, trust accounts, or
interest-bearing demand or time deposits (including certificates of deposit) which are held in banks rated at least “A’ category by S&P or Moody’s; 
  
 (vi) fully Federal Deposit Insurance Corporation-insured demand and time deposits in, or certificates of
deposit of, or bankers’ acceptances issued by, any bank or trust company, savings and loan association or savings bank, the short term obligations of which at all times are rated in the highest short term rating category by each Rating Agency
(or, if not rated by all Rating Agencies, rated by at least one Rating Agency in the highest short term rating category and otherwise acceptable to each other Rating Agency, as confirmed in writing that such investment would not, in and of itself,
result in a downgrade, qualification or withdrawal of the initial or, if higher, then current ratings assigned to any class of Notes); provided, however, that the investments described in this clause (v) must (A) have a predetermined
fixed dollar of principal due at maturity that cannot vary or change, (B) if rated by S&P, not have an “r” highlighter affixed to their rating, (C) if such investments have a variable rate of interest, have an interest rate tied to a
single interest rate index plus a fixed spread (if any) and must move proportionately with that index, and (D) not be subject to liquidation prior to their maturity; 
  

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 (vii) debt obligations with maturities of not more than 365 days and at all times rated
by each Rating Agency (or, if not rated by all Rating Agencies, rated by at least one Rating Agency and otherwise acceptable to each other Rating Agency, as confirmed in writing that such investments would not, in and of itself, result in a
downgrade, qualification or withdrawal of the initial or, if higher, then current ratings assigned to the Notes) in its highest long-term unsecured debt rating category; provided, however, that the investments described in this clause
(vi) must (A) have a predetermined fixed dollar amount of principal due at maturity that cannot vary or change, (B) if rated by S&P, not have an “r” highlighter affixed to their rating, (C) if such investments have a variable rate of
interest, have an interest rate tied to a single interest rate index plus a fixed spread (if any) and must move proportionately with that index, and (D) not be subject to liquidation prior to their maturity; 
  
 (viii) commercial paper (including both non-interest-bearing
discount obligations and interest-bearing obligations payable on demand or on a specified date not more than one year after the date of issuance thereof) with maturities of not more than 365 days and that at all times is rated by each Rating Agency
(or, if not rated by all Rating Agencies, rated by at least one Rating Agency and otherwise acceptable to each other Rating Agency, as confirmed in writing that such investment would not, in and of itself, result in a downgrade, qualification or
withdrawal of the initial or, if higher, then current ratings assigned to any class of Notes) in its highest short-term unsecured debt rating; provided, however, that the investments described in this clause (vii) must (A) have a
predetermined fixed dollar amount of principal due at maturity that cannot vary or change, (B) if rated by S&P, not have an “r” highlighter affixed to their rating, (C) if such investments have a variable rate of interest, have an
interest rate tied to a single interest rate index plus a fixed spread (if any) and must move proportionately with that index, and (D) not be subject to liquidation prior to their maturity; 
  
 (ix) units of taxable money market funds or mutual
funds—including, without limitation, the JPMorgan Funds or any other mutual fund for which the Indenture Trustee, or any Affiliate of the Indenture Trustee, serves as investment manager, administrator, shareholder servicing agent, and/or
custodian or subcustodian, notwithstanding that (i) the Indenture Trustee or an Affiliate of the Indenture Trustee receives fees from such funds for services rendered, (ii) the Indenture Trustee charges and collects fees for services rendered
pursuant to the Indenture, which fees are separate from the fees received from such funds and (iii) services performed for such funds and pursuant to this Agreement and the Indenture may at times duplicate those provided to such funds by the
Indenture Trustee or its Affiliates—which funds are regulated investment companies, seek to maintain a constant net asset value per share and have the highest rating from each Rating Agency (or, if not rated by all Rating Agencies, rated by at
least one Rating Agency and otherwise acceptable to each other Rating Agency, as confirmed in writing that such investment would not, in and of itself, result in a downgrade, qualification or withdrawal of the initial or, if higher, then current
ratings assigned to any class of Notes) for money market funds or mutual funds; and 
  

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 (x) any other security, obligation or investment which has been approved as a Permitted
Investment in writing by (a) Indenture Trustee and (b) each Rating Agency, as evidenced by a written confirmation that the designation of such security, obligation or investment as a Permitted Investment will not, in and of itself, result in a
downgrade, qualification or withdrawal of the initial or, if higher, then current ratings assigned to any class of Notes by such Rating Agency; 
  
 provided, however, that such instrument continues to qualify as a “cash flow investment” pursuant to Code Section 860G(a)(6) earning a passive
return in the nature of interest and no obligation or security shall be a Permitted Investment if (A) such obligation or security evidences a right to receive only interest payments or (B) the right to receive principal and interest payments on such
obligation or security are derived from an underlying investment that provides a yield to maturity in excess of 120% of the yield to maturity at par of such underlying investment; and provided, further, no obligation or security, other
than an obligation or security constituting real estate assets, cash, cash items or Government securities pursuant to Code Section 856(c)(4)(A), shall be a Permitted Investment if the value of such obligation or security exceeds ten percent (10%) of
the total value of the outstanding securities of any one issuer. 
  
 “Quarterly Advance Rents Reserve Deposit” means two-thirds (2/3rds) of the amount of Rent
due and paid pursuant to Space Licenses which require that quarterly Rent due thereunder be paid in advance; provided, however, if Rents which are required to be delivered as Quarterly Advance Rents Reserve Deposits are received late,
appropriate adjustments shall be made taking into consideration amounts which, but for such late payment of Rent, would have previously been distributed from the Advance Rents Reserve Sub-Account had such Rents not been paid late. 
  
 “Semi-Annual Advance Rents Reserve Deposit” means
five-sixths (5/6ths) of the amount of Rent due and paid pursuant to Space Licenses which require that semi-annual
Rent due thereunder be paid in advance; provided, however, if Rents which are required to be delivered as Semi-Annual Advance Rents Reserve Deposits are received late, appropriate adjustments shall be made taking into consideration amounts which,
but for such late payment of Rent, would have previously been distributed from the Advance Rents Reserve Sub-Account had such Rents not been paid late. 
  
 “Tenant Direction Letter” shall have the meaning ascribed to it in Section 2.02(a). 
  
 “UCC” shall have the meaning ascribed to it in Section
5.01(a)(iv). 
  

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 ARTICLE II 
  

THE ACCOUNTS AND SUB-ACCOUNTS 
  
 Section 2.01 Reserved. 
  
 Section 2.02 Deposits into Accounts. The Issuers and the Manager represent, warrant and covenant that: 
  
 (a) The Asset Entities have notified and directed substantially all (and
shall direct any tenants they are or become aware have not been so directed) Tenants under the Space Licenses to send directly to the Lock Box Accounts (in the case of Asset Entities which are Issuers) or to existing lock box accounts (in the case
of Asset Entities which are not Issuers) all payments of Receipts and shall not revoke, modify or cancel such directions or cause or direct any Tenant or other Person to pay any Receipts in any other manner). Pursuant to the Account Control
Agreements, all available funds on deposit in the Lock Box Accounts shall be transferred to the Indenture Trustee and deposited into the Collection Account on each Business Day. The Indenture Trustee may make withdrawals from the Collection Account
in accordance with Section 3.03 of the Indenture. The Issuer Entity and the Members shall cause the Asset Entities that are not Issuers to make monthly distributions into the Collection Account no later than the last Business Day of each month and
as otherwise permitted by the operating agreements of such Asset Entities. 
  
 (b) If, notwithstanding the provisions of this Section 2.02, the Asset Entities which are Issuers or the Manager receives any Receipts from any Tower Site, or any Extraordinary Receipts, such Asset Entities or the
Manager shall deposit such amounts in the applicable Lock Box Account within two (2) Business Days of receipt. Provided no Event of Default has occurred and is then continuing, and except as otherwise set forth in the Indenture, Extraordinary
Receipts shall be held and applied as “Rents” in accordance with Article V of the Indenture when and as received. 
  
 (c) Prior to the end of each Collection Period, the Issuer Entity (or the Manager on its behalf) shall instruct the Indenture Trustee to deposit the
Advance Rents Reserve Deposits received in the Collection Account during each such Collection Period into the Advance Rents Reserve Sub-Account. All such deposits into the Advance Rents Reserve Sub-Account shall be reflected in the Manager Report
for the applicable Collection Period. 
  
 Section 2.03 Account
Name. The Collection Account and Sub-Accounts shall each be in the name of the Indenture Trustee; provided, however, that in the event Indenture Trustee resigns or is replaced pursuant to the terms of the Indenture, the Indenture
Trustee shall (with respect to the Accounts other than the Lock Box Accounts), and the Collection Account Bank (with respect to the Collection Account) shall change the name of each Account to the name of the successor indenture trustee. 

 
 Section 2.04 Eligible Accounts/Characterization of Accounts. Each
Account shall be an Eligible Account. Each Account (other than the Lock Box Accounts, each of which shall be a non-interest bearing demand deposit account) is and shall be treated as a “securities 
  

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 account” as such term is defined in Section 8-501(a) of the UCC. The Indenture Trustee hereby agrees that each item
of property (whether investment property, financial asset, securities, securities entitlement, instrument, cash or other property) credited to each Account shall be treated as a “financial asset” within the meaning of Section 8-102(a)(9)
of the UCC. All securities or other property underlying any financial assets credited to each Account (other than cash) shall be registered in the name of the Indenture Trustee, endorsed to the Indenture Trustee or in blank or credited to another
securities account maintained in the name of Indenture Trustee and in no case will any financial asset credited to any Account be registered in the name of the Issuer Entity, the Asset Entities, the Members or the Manager payable to the order of the
Issuer Entity, the Asset Entities, the Members or the Manager or specially endorsed to the Issuer Entity, the Asset Entities, the Members or the Manager. 
  
 Section 2.05 Permitted Investments. Sums on deposit in the Collection Account or the Sub-Accounts shall be invested in Permitted Investments.
Except during the existence of an Event of Default, the Manager shall have the right to direct the Indenture Trustee to invest sums on deposit in the Collection Account or the Sub-Accounts in Permitted Investments; provided, however,
in no event shall the Manager direct the Indenture Trustee make a Permitted Investment if the maturity date of that Permitted Investment is later than the date on which the invested sums are required for payment of an obligation for which the
Account was created. After an Event of Default and during the continuance thereof, Indenture Trustee may invest sums on deposit in the Collection Account and the Sub-Accounts in Permitted Investments. The Issuers hereby irrevocably authorize the
Indenture Trustee to apply any interest or income earned from Permitted Investments to the Collection Account and the Sub-Accounts in accordance with the priorities set forth in Section 5.01(a) of the Indenture. The Issuers shall be responsible for
payment of any federal, state or local income or other tax applicable to income earned from Permitted Investments. The Collection Account and the Sub-Accounts shall be assigned the federal tax identification number of the Issuer Entity, which number
is set forth on the signature page hereof. Any interest, dividends or other earnings which may accrue on the Collection Account or the Sub-Accounts shall be added to the balance in the applicable Account and allocated and/or disbursed in accordance
with the terms hereof. 
  
 ARTICLE III 
  
 DEPOSITS 
  
 Section 3.01 Initial Deposits. 
  
 (a) The Issuers shall deposit in the Impositions and Insurance Reserve Sub-Account on the date hereof the amount of $24,507,107. 
  
 (b) The Issuers shall deposit in the Advance Rents Reserve Sub-Account on the
date hereof the amount of $21,865,890. 
  
 (c) The Issuers shall
deposit in the Cash Trap Reserve Sub-Account on the date hereof the amount of $0. 
  

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 (d) The Issuers shall deposit in the Environmental Remediation Reserve Sub-Account on the date hereof the
amount of $2,500,000. 
  
 Section 3.02 Additional Deposits.
The Issuers shall make such additional deposits into the Accounts as may be required by the Indenture. 
  
 Section 3.03 Application of Funds from the Collection Account. (a) Funds on deposit in the Collection Account shall be applied in accordance with
Article V of the Indenture. If there are insufficient funds in the Collection Account for the deposits required by Section 5.01(a), clauses First, Second, Eighth and Ninth of the Indenture on or before the Payment Date when due, the
Issuers shall deposit such deficiency into the Collection Account on or before the Business Day preceding such Payment Date. Under no circumstances shall the Indenture Trustee be required to utilize the Cash Trap Reserve to cure any deficiencies in
any Sub-Accounts. To the extent sufficient funds are included within the applicable Sub-Accounts (or, if not sufficient, the Issuers deposit any such deficiency pursuant to this Section 3.03(a)) the Issuers shall be deemed to have satisfied the
obligations of the Issuers to make the related deposit under the Indenture. The Issuers shall use all disbursements made to them under Sections 5.01(a), clause Eighth solely to pay Operating Expenses in accordance with the Operating Budget.

  
 (c) Notwithstanding anything herein to the contrary, upon the
occurrence and during the continuance of an Event of Default, all funds on deposit in the Collection Account, and any Sub-Accounts thereof shall be disbursed to or as directed by Indenture Trustee; provided, however, that any payments
on the Notes will be made in accordance with Article V of the Indenture. 
  
 (d) On the Closing Date, and no later than three (3) Business Days prior to each Payment Date thereafter, the Manager will provide an estimate to the Indenture Trustee of the Management Fee that will be payable on the
related Payment Date. Allocations pursuant to Section 5.01(a), clause Ninth of the Indenture shall be made on the basis of such estimate. If the actual Management Fee payable on any Payment Date is not equal to the amount allocated for the
payment thereof pursuant to Section 5.01(a), clause Ninth of the Indenture, then the Management Fee for the Payment Date immediately following final determination of the applicable Management Fee shall be adjusted by an amount equal to the
deficiency or surplus, as applicable. 
  
 ARTICLE IV

  
 PAYMENT OF FUNDS FROM SUB-ACCOUNTS 
  
 Section 4.01 Payments From Accounts and Sub-Accounts. 
  
 (a) Impositions and Insurance Reserve Sub-Account. The Indenture
Trustee shall withdraw amounts on deposit in the Impositions and Insurance Reserve Sub-Account and distribute such amounts as are required to be distributed pursuant to Section 4.03 of the Indenture. 
  

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 (b) Cash Trap Reserve Sub-Account. The Indenture Trustee shall withdraw amounts on deposit in the
Cash Trap Reserve Sub-Account and distribute such amounts as are required to be distributed pursuant to Section 4.06 of the Indenture. 
  
 (c) Advance Rents Reserve Sub-Account. The Indenture Trustee shall cause amounts deposited into the Advance Rents Reserve Sub-Account to be
released to the Collection Account on each Payment Date based upon a ratable allocation of such Advance Rents Reserve Deposit over the period for which the Annual Advance Rents Reserve Deposit (i.e., one-eleventh (1/11th) per month over the succeeding eleven (11) months), the Semi-Annual Advance Rents Reserve Deposit (i.e., one-fifth
(1/5th) per month over the succeeding five (5) months), and the Quarterly Advance Rents Reserve Deposit (i.e.,
one-half (1/2) per month over the succeeding two (2) months) have been paid which such amounts shall be allocated and disbursed in accordance with Section 5.01(a) of the Indenture; provided, however, if Rents which are required to be
delivered as Advance Rents Reserve Deposits are received late, appropriate adjustments shall be made for allocating such Rents over the period for which such deposits are required, taking into consideration amounts which, but for such late payment
of Rent, would have previously been distributed from the Advance Rents Reserve Sub-Account had such Rents not been paid late. 
  
 (d) The Indenture Trustee shall withdraw amounts on deposit in the Environmental Remediation Reserve Sub-Account and distribute such amounts as are
required to be distributed pursuant to Section 4.05 of the Indenture. 
  
 Section 4.02 Sole Dominion and Control. Each Issuer, on its own behalf, and the Issuer Entity and each Member, on behalf of the Asset Entities which are not Issuers, acknowledges and agrees that the Accounts are subject to the sole
dominion, control and discretion of the Indenture Trustee, its authorized agents or designees, (and other than the Lock Box Accounts which are subject to the Account Control Agreements) subject to the terms hereof. None of the Issuer Entity, the
Asset Entities, the Members or the Manager shall have any right of withdrawal with respect to any Account except with the prior written consent of Indenture Trustee. Each Issuer acknowledges and agrees that any agent designated by the Indenture
Trustee shall comply with all “entitlement orders” (as defined in Section 8-102(a)(8) of the UCC) and instructions originated by the Indenture Trustee without further consent by any Issuer or any other Person. 
  
 ARTICLE V 
  
 PLEDGE OF ACCOUNTS 
  
 Section 5.01 Security for Obligations. (a) To secure the full and punctual payment and performance of all Obligations of the Issuers under the
Notes, the Indenture, this Agreement and all other Transaction Documents, the Issuers and the Members hereby grant to the Indenture Trustee a first priority continuing security interest in and to the following property of the Issuers and the
Members, whether now owned or existing or hereafter acquired or arising and regardless of where located (all of the same, collectively, the “Collateral”): 
  
 (i) the Accounts and all cash, checks, drafts, certificates and instruments, if any, from time to time
deposited or held therein, including, without limitation, all deposits or wire transfers made to the Collection Account, the Lock Box Accounts, and each of the Sub-Accounts; 
  

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 (ii) any and all amounts invested in Permitted Investments; 
  
 (iii) all interest, dividends, cash, instruments and other
property from time to time received, receivable or otherwise payable in respect of, or in exchange for, any or all of the foregoing; and 
  
 (iv) to the extent not covered by clauses (i), (ii) or (iii) above, all “proceeds” (as defined under the Uniform Commercial Code
as in effect in the State of New York (the “UCC”)) of any or all of the foregoing. 
  
 (b) The Indenture Trustee, shall have with respect to the Collateral, in addition to the rights and remedies herein set forth, all of the rights and
remedies available to a secured party under the UCC, as if such rights and remedies were fully set forth herein. 
  
 Section 5.02 Rights on Default. Upon the occurrence and during the continuance of an Event of Default, without notice from the Indenture Trustee,
(a) neither the Issuers nor the Manager shall have any further right in respect of (including, without limitation, the right to instruct the Indenture Trustee to transfer from) the Accounts, (b) the Indenture Trustee (solely at the direction of the
Servicer) may liquidate and transfer any amounts then invested in Permitted Investments to the Accounts or reinvest such amounts in other Permitted Investments as the Servicer may reasonably determine is necessary to perfect or protect any security
interest granted or purported to be granted hereby or to enable the Indenture Trustee to exercise and enforce the Indenture Trustee’s rights and remedies hereunder with respect to any Collateral, and (c) the Indenture Trustee (solely at the
direction of the Servicer) may apply any Collateral to any Obligations in such order of priority as the Indenture may determine; provided, however, that any such payments on the Notes will be made in accordance with Article V of the
Indenture. 
  
 Section 5.03 Financing Statement; Further
Assurances. The Issuers hereby authorize the Servicer to file a financing statement or statements in connection with the Collateral to properly perfect the Indenture Trustee’s security interest therein to the extent a security interest in
the Collateral may also be perfected by filing. Each Issuer and each Member agrees that at any time and from time to time, at the expense of the applicable Issuer or Member, such Issuer or Member will promptly execute and deliver all further
instruments and documents, and take (or authorize the taking of) all further action, that may be reasonably necessary or desirable, or that the Servicer may reasonably request, in order to perfect and protect any security interest granted or
purported to be granted hereby or to enable the Indenture Trustee to exercise and enforce its rights and remedies hereunder with respect to any Collateral. In the event of any change in name, identity or structure of any Issuer or Member, the Issuer
Entity shall notify the Indenture Trustee thereof and such Issuer or Member hereby authorizes the Indenture Trustee to file and record such UCC financing statements (if any) as are reasonably necessary to maintain the priority of Indenture
Trustee’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. 
  

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 Section 5.04 Termination of Agreement. This Agreement shall create a continuing security interest
in the Collateral and shall remain in full force and effect until payment and performance in full of the Obligations. Upon payment and performance in full of the Obligations, in accordance with their stated terms, this Agreement shall terminate and
the Issuers and Members shall be entitled to the return, at their expense, of such of the Collateral as shall not have been sold or otherwise applied pursuant to the terms hereof, and the Indenture Trustee shall execute such instruments and
documents as may be reasonably requested by the Issuer Entity to evidence such termination and the release of the lien hereof. 
  
 Section 5.05 Representations of the Issuers and Members. Each Issuer makes the following representations: 
  
 (a) This Agreement creates a valid and continuing security interest (as
defined in the applicable UCC) in the Collateral in favor of the Indenture Trustee, which security interest is prior to all other liens, and is enforceable as such as against creditors of and purchasers from such Issuer or Member. 
  
 (b) The Issuers and the Members own and have good and marketable title to the
Collateral free and clear of any lien, claim or encumbrance of any Person except as created under this Agreement. 
  
 (c) Other than the security interest granted to the Indenture Trustee pursuant to this Agreement, neither the Issuers nor the Members have pledged,
assigned, sold, granted a security interest in, or otherwise conveyed the Collateral. The Issuers have received all consents and approvals required by the terms of the Collateral to the transfer to the Indenture Trustee of their interest and rights
in the Collateral hereunder. 
  
 (d) The Accounts (other than the
Lock Box Accounts which are subject to Account Control Agreements) are not in the name of any person other than the Indenture Trustee. 
  
 (e) No Issuer or Member has authorized the filing of any financing statements against itself, and no financing statements have been filed against any
Issuer or Member, that include a description of collateral covering the Collateral other than any financing statement relating to the security interest granted to the Indenture Trustee hereunder or that has been terminated. No Issuer or Member is
aware of any financing statement authorized by, or filed against, any Asset Entity which is not an Issuer other than (i) financing statements terminated on or prior to the effectiveness of this Agreement and (ii) a financing statement filed October
1, 2001 with the Delaware Secretary of State naming Cummings Properties, LLC as secured party and Crown Atlantic Company, LLC as debtor. There are no judgments or tax lien filings against the Issuers, the Members or the Asset Entities which are not
Issuers. 
  
 Section 5.06 Covenants of the Issuer Entity.
(a) With regard to the Annual Advance Rents Reserve Deposit, the Issuer Entity shall cause the Asset Entities to provide the Indenture Trustee and the Servicer with bills or a statement of amounts due for such calendar 
  

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 year pursuant to such Space Licenses on or before the fifteenth (15th) day prior to the commencement of the applicable calendar year which shall be accompanied by an Officer’s Certificate and such other documents as may be
reasonably required by the Indenture Trustee and the Servicer to establish the amounts required to be deposited into the Advance Rents Reserve Sub-Account. 
  
 (b) With respect to the Quarterly Advance Rents Reserve Deposit, the Issuer Entity shall cause the Asset Entities to provide the Indenture Trustee and the
Servicer with bills or a statement of amounts due for such calendar quarter pursuant to such Space Licenses on or before the fifteenth (15th) day prior to the commencement of the applicable calendar quarter which shall be accompanied by an Officer’s Certificate and such other documents as may be reasonably required by the Indenture Trustee to establish the
amounts required to be deposited into the Advance Rents Reserve Sub-Account. 
  
 (c) With regard to the Semi-Annual Advance Rents Reserve Deposit, the Asset Entities shall provide the Indenture Trustee and the Servicer with bills or a statement of amounts due for such biannual calendar period
pursuant to such Space Licenses on or before the fifteenth (15th) day prior to the commencement of the applicable
biannual calendar period which shall be accompanied by an Officer’s Certificate and such other documents as may be reasonably required by the Indenture Trustee and the Servicer to establish the amounts required to be deposited into the Advance
Rents Reserve Sub-Account. 
  
 ARTICLE VI 
  
 RIGHTS AND DUTIES OF INDENTURE TRUSTEE 
  
 Section 6.01 Reasonable Care. Beyond the exercise of reasonable care
in the custody thereof or as otherwise expressly provided herein, the Indenture Trustee shall not have any duty as to any Collateral in its possession or control as agent therefor or bailee thereof or any income thereon or the preservation of rights
against any Person or otherwise with respect thereto. The Indenture Trustee shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession if the Collateral is accorded treatment substantially
equal to that which the Indenture Trustee accords its own property, it being understood that the Indenture Trustee shall not be liable or responsible for any loss or damage to any of the Collateral, or for any diminution in value thereof, by reason
of the act or omission of the Indenture Trustee, its Affiliates, agents, employees or bailees, except to the extent that such loss or damage results from the Indenture Trustee’s gross negligence or willful misconduct. The standards of care,
limitation on liability and rights to indemnities set forth in Article XI of the Indenture shall apply to the duties and obligations of the Indenture Trustee hereunder. 
  
 Section 6.02 Indemnity. The Indenture Trustee, in its capacity as such hereunder, shall be responsible for the
performance only of such duties as are specifically set forth herein, and no duty shall be implied from any provision hereof. The Indenture Trustee shall not be under any obligation or duty to perform any act which would involve it in expense or
liability or to institute or defend any suit in respect hereof, or to advance any of its own monies. The Issuers shall indemnify and hold the Indenture Trustee, its employees and officers harmless from and against any loss, liability, cost or damage
(including, without limitation, reasonable 
  

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 attorneys’ fees and disbursements) incurred by the Indenture Trustee in connection with the transactions
contemplated hereby, except to the extent that such loss or damage results from the Indenture Trustee’s gross negligence or willful misconduct. The foregoing indemnity shall survive the termination of this Agreement. 
  
 Section 6.03 Indenture Trustee Appointed Attorney-In-Fact. Upon the
occurrence and during the continuance of an Event of Default, the Issuers and the Members hereby irrevocably constitute and appoint the Indenture Trustee as the true and lawful attorney-in-fact of the Issuers and the Members, coupled with an
interest and with full power of substitution, to execute, acknowledge and deliver any instruments and to exercise and enforce every right, power, remedy, option and privilege of the Issuers and the Members with respect to the Collateral, and do in
the name, place and stead of the Issuers and the Members, all such acts, things and deeds for and on behalf of and in the name of the Issuers and the Members, which the Issuers are required to do hereunder or under the other Transaction Documents or
which the Indenture Trustee may deem reasonably necessary or desirable to more fully vest in the Indenture Trustee the rights and remedies provided for herein and to accomplish the purposes of this Agreement including, without limitation, the filing
of any UCC financing statements or continuation statements in appropriate public filing offices on behalf of the Issuers and the Members, in any of the foregoing cases, upon the Issuers’ or the Members’ failure to take any of the foregoing
actions within fifteen (15) days after notice from the Indenture Trustee. The foregoing powers of attorney are irrevocable and coupled with an interest. 
  
 Section 6.04 Acknowledgment of Lien/Offset Rights. The Indenture Trustee hereby acknowledges and agrees with respect to the Accounts that (a) the
Collection Account and the Sub-Accounts shall be in the name of the Indenture Trustee, (b) all funds held in the Accounts shall be held for the benefit of the Indenture Trustee as secured party, (c) the Issuers have granted to the Indenture Trustee,
on behalf of the Note Owners, a first priority security interest in the Collateral, (d) the Indenture Trustee shall not disburse any funds from the Accounts except as provided herein and in the Indenture, and (e) the Indenture Trustee shall invest
and reinvest any balance of the Collection Account or Sub-Accounts in Permitted Investments in accordance with Section 2.05 hereof. The Indenture Trustee hereby waives any right of offset, banker’s lien or similar rights against, or any
assignment, security interest or other interest in, the Collateral. 
  
 Section 6.05 Reporting Procedures. The Indenture Trustee shall provide the Issuer Entity, the Asset Entities and the Manager with a record of all checks and any other items deposited to the Collection Account or processed for
collection. The Indenture Trustee shall make available a daily credit advice to the Issuer Entity, the Asset Entities and the Manager, which credit advice shall specify the amount of each receipt deposited into the Collection Account on such date.
The Indenture Trustee shall send a monthly report to the Issuer Entity, the Asset Entities and the Manager which monthly report shall specify the credits and charges to the Collection Account for the previous calendar month. 
  

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 ARTICLE VII 
  
 RESERVED 
  
 ARTICLE VIII 
  
 MISCELLANEOUS 
  
 Section 8.01 Transfers and Other Liens. Each Issuer and Member agrees that it will not (i) sell or otherwise dispose of any of the Collateral or (ii) create or permit to exist any Lien upon or with respect to
all or any of the Collateral, except for the Lien granted under this Agreement or the Transaction Documents. 
  
 Section 8.02 Indenture Trustee’s Right to Perform the Obligations of the Issuers; No Liability of Indenture Trustee. If the Issuers or the
Members fail to perform any of the covenants or obligations contained herein, and such failure shall continue for a period ten (10) Business Days after the Issuer Entity’s receipt of written notice thereof from the Indenture Trustee, the
Indenture Trustee may itself perform, or cause performance of, such covenants or obligations, and the reasonable expenses of the Indenture Trustee incurred in connection therewith shall be payable by the Issuers and the Members to the Indenture
Trustee. Notwithstanding the Indenture Trustee’s right to perform certain obligations of the Issuers and the Members, it is acknowledged and agreed that the Issuers retain control of their Tower Sites and operation thereof and notwithstanding
anything contained herein or the Indenture Trustee’s exercise of any of its rights or remedies hereunder, under the Transaction Documents or otherwise at law or in equity, the Indenture Trustee shall not be deemed to be a
mortgagee-in-possession and shall not be subject to any liability with respect to the Tower Sites or otherwise based upon any claim of lender liability. 
  
 Section 8.03 No Waiver. The rights and remedies provided in this Agreement and the other Transaction Documents are cumulative and may be exercised
independently or concurrently, and are not exclusive of any other right or remedy provided at law or in equity. No failure to exercise or delay by the Indenture Trustee in exercising any right or remedy hereunder or under the Transaction Documents
shall impair or prohibit the exercise of any such rights or remedies in the future or be deemed to constitute a waiver or limitation of any such right or remedy or acquiescence therein. Every right and remedy granted to the Indenture Trustee
hereunder or by law may be exercised by the Indenture Trustee at any time and from time to time, and as often as the Indenture Trustee may deem it expedient. Any and all of the Indenture Trustee’s rights with respect to the lien and security
interest granted hereunder shall continue unimpaired, and the Issuers and the Members shall be and remain obligated in accordance with the terms hereof, notwithstanding (a) any proceeding of the Issuers and/or the Members under the Federal
Bankruptcy Code or any bankruptcy, insolvency or reorganization laws or statutes of any state, (b) the release or substitution of Collateral at any time, or of any rights or interests therein or (c) any delay, extension of time, renewal, compromise
or other indulgence granted by the Indenture Trustee in the event of any default, with respect to the Collateral or otherwise hereunder. No delay or extension of time by the Indenture Trustee in exercising any power of sale, option or other right or
remedy hereunder, and no notice or demand which may be given to or made upon the Issuers or Members by the Indenture Trustee, shall constitute a waiver thereof, 
  

 -15- 

 or limit, impair or prejudice the Indenture Trustee’s right, without notice or demand, to take any action against
the Issuers and the Members or to exercise any other power of sale, option or any other right or remedy. 
  
 Section 8.04 Expenses. The Collateral shall secure, and the Issuers and the Members shall pay to the Indenture Trustee in accordance with the time
frames set forth in the Indenture, from time to time, all costs and expenses for which the Issuers are liable under the Indenture and as follows: 
  
 (a) The Issuers and the Members agree to compensate the Indenture Trustee for performing the services described herein pursuant to the Fee Agreement that
is attached hereto and made a part hereof as Exhibit A. 
  
 (b) The Indenture Trustee shall debit the Collection Account by the amount of its fees under advice on a monthly basis or shall include its fees in an account analysis statement, in accordance with the Indenture. 
  
 (c) If insufficient funds are available to cover the amounts due under this
Section 8.04, the Issuers shall pay such amounts to the Indenture Trustee in immediately available funds within five (5) Business Days of demand by the Indenture Trustee. 
  
 Section 8.05 Amendment. This Agreement may not be changed, terminated or otherwise varied, except by a writing duly
executed by the parties. 
  
 Section 8.06 No Waiver. No
waiver of any term or condition of this Agreement, whether by delay, omission or otherwise, shall be effective unless in writing and signed by the party sought to be charged, and then such waiver shall be effective only in the specific instance and
for the purpose for which given. 
  
 Section 8.07 Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto, their respective successors and permitted assigns. 
  

Section 8.08 Notices. All notices, demands, requests, consents, approvals and other communications (any of the foregoing, a
“Notice”) required, permitted, or desired to be given hereunder shall be in writing and delivered to the parties at the addresses and in the manner provided in Section 15.04 of the Indenture. 
  
 Section 8.09 Captions. All captions in this Agreement are included
herein for convenience of reference only and shall not constitute part of this Agreement for any other purpose. 
  
 Section 8.10 Governing Law. This Agreement shall be governed by and construed and enforced in all respects in accordance with the laws of the State
of New York without regard to conflicts of law principles of such State. 
  
 Section 8.11 Counterparts. This Agreement may be executed in any number of counterparts. 
  

 -16- 

 Section 8.12 Inconsistencies. To the extent the terms of this Agreement are inconsistent with the
terms of the Indenture, the terms of the Indenture shall prevail. 
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 -17- 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first
above written. 
  

			
	ISSUERS:
	
	CROWN CASTLE TOWERS LLC
	CROWN CASTLE SOUTH LLC
	CROWN COMMUNICATION INC.
	CROWN CASTLE PT INC.
	 CROWN COMMUNICATION NEW YORK,
INC.

	 CROWN CASTLE INTERNATIONAL CORP. DE
PUERTO RICO

		
	By:	 	 /s/ Jay Brown

	Name:	 	Jay Brown
	Title:	 	Vice President
	
	 Tax Payer ID #: 20-2968016
 74-29113900
 23-2917649
 75-2801242
 23-2936278
 76-0506453

  
 [SIGNATURES
CONTINUE ON THE FOLLOWING PAGE] 

			
	INDENTURE TRUSTEE:
	
	 JPMORGAN CHASE BANK, N.A., a national banking
association

		
	By:	 	 /s/ Melissa J. Adelson

	Name:	 	Melissa J. Adelson
	Title:	 	Vice President
	
	MANAGER:
	
	CROWN CASTLE USA INC., a Delaware corporation
		
	By:	 	 /s/ Jay Brown

	Name:	 	Jay Brown
	Title:	 	Vice President
	
	MEMBERS:
	
	 CROWN CASTLE GT HOLDING SUB LLC, a
Delaware limited liability company

		
	By:	 	 /s/ Jay Brown

	Name:	 	Jay Brown
	Title:	 	Vice President
	
	 CROWN CASTLE ATLANTIC LLC, a Delaware
limited liability company

		
	By:	 	 /s/ Jay Brown

	Name:	 	Jay Brown
	Title:	 	Vice President

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