Document:

EX-4.2

 Exhibit 4.2 
 EXECUTION VERSION 
 PLEDGE AND SECURITY AGREEMENT 

THIS PLEDGE AND SECURITY AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this
“Agreement”) dated as of December 24, 2012, made by CC HOLDINGS GS V LLC, PINNACLE TOWERS LLC, PINNACLE TOWERS III LLC and PINNACLE TOWERS V INC. (each, a “Pledgor” and, collectively, the
“Pledgors”), in favor of THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as trustee (the “Indenture Trustee”), for the benefit of the holders of the Notes from time to time (the “Noteholders”)
issued pursuant to the Indenture (as defined below). 
 R E C I T A L
S: 
 WHEREAS, pursuant to the Indenture, dated as of December 24, 2012 (as amended, supplemented, restated or
otherwise modified from time to time, the “Indenture”), CC Holdings GS V LLC, a Delaware limited liability company, and Crown Castle GS III Corp., a Delaware corporation, issued $500,000,000 aggregate principal amount of 2.381%
Senior Secured Notes due 2017 (the “2017 Notes”) and $1,000,000,000 aggregate principal amount of 3.849% Senior Secured Notes due 2023 (the “2023 Notes” and, together with the 2017 Notes, the
“Notes”) upon the terms and subject to the conditions set forth therein; 
 WHEREAS, each Pledgor will derive
substantial direct and indirect benefit from the issuance of the Notes under the Indenture; 
 WHEREAS, each Pledgor is the sole
beneficial holder of interests in certain Corporations (as hereinafter defined), or LLCs (as hereinafter defined) as more particularly described on Schedule 1 attached hereto; and 

WHEREAS, contemporaneously with the issuance of the Notes, each Pledgor shall execute and deliver this Agreement to the Indenture Trustee
for the ratable benefit of the Noteholders of each series of Notes. 
 NOW, THEREFORE, in consideration of the premises and to
induce the Indenture Trustee to enter into the Indenture and to induce the Noteholders to make their respective purchases of the Notes, each Pledgor hereby agrees with the Indenture Trustee, for the ratable benefit of the Noteholders of each series
of Notes, as follows: 
 ARTICLE I 
 CERTAIN DEFINITIONS 
 (a) Unless otherwise specified in this
Agreement, certain capitalized terms used and not otherwise defined in this Agreement shall have the respective meanings given to such terms in the Indenture. In addition, as used in this Agreement, the following terms have the meanings set forth in
or incorporated by reference below: 
 “Accounts” means, as to each Pledgor, all
“accounts” (as defined in the UCC) now owned or hereafter acquired by each Pledgor relating to the Collateral, including all 

 
accounts receivable, contract rights, book debts, notes, drafts and other obligations or indebtedness owing to each Pledgor relating to the Collateral, whether or not arising from the sale, lease
or exchange of goods or other property by each Pledgor or the performance of services by each Pledgor (including any such obligation which might be characterized as an account, contract right or general intangible relating to the Collateral under
the UCC), and all of each Pledgor’s rights to any goods, services or other property represented by any of the foregoing. 

“Agreement” has the meaning in the preamble to this Agreement. 

“Bylaws” means the bylaws of the Corporations, in the form delivered to the Indenture Trustee on the Issue Date, as may
be amended from time to time in accordance with this Agreement. 
 “Certificate of Formation” means the
certificate of formation of each LLC, as same has been amended through the date hereof and as same may be amended from time to time in accordance with this Agreement. 
 “Certificate of Incorporation” means the certificate or articles of incorporation of each Corporation, as same has been amended through the date hereof and as same may be amended from
time to time in accordance with this Agreement. 
 “Collateral” has the meaning set forth in Section 2.01.

 “Control Acknowledgement” has the meaning set forth in Section 3.02(f). 

“Corporations” means the corporations identified on Schedule 1 under the heading “Pledged Subsidiary.”

 “Documents” means all “documents” (as defined in the UCC) or other receipts covering, evidencing
or representing any of the Collateral now owned or hereafter acquired by each Pledgor. 
 “General Intangibles”
means all “general intangibles” (as defined in the UCC) now owned or hereafter acquired by each Pledgor relating to the Collateral, including (i) all obligations or indebtedness owing to each Pledgor (other than Accounts) with respect
to the Collateral from whatever source arising and (ii) all rights or claims in respect of refunds for taxes paid with respect to the Collateral. 
 “Indenture” has the meaning set forth in the Recitals to this Agreement. 
 “Indenture Trustee” has the meaning set forth in the preamble to this Agreement. 
 “Instruments” means all “instruments,” “chattel paper” or “letters of credit” (each as defined in the UCC) evidencing, representing, arising from or existing
in respect of, relating to, securing or otherwise supporting the payment of, any of the Accounts, including promissory notes, drafts, bills of exchange and trade acceptances, now owned or hereafter acquired by each Pledgor with respect to the
Collateral. 

  
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 “Investment Property” has the meaning assigned to such term in the UCC.

 “LLC Interests” has the meaning set forth in Section 2.01(a)(ii). 

“LLCs” means the limited liability companies identified on Schedule 1 under the heading “Pledged Subsidiary.”

 “Monies” means all cash, checks, notes, drafts or similar items of payment. 

“Noteholders” has the meaning set forth in the preamble to this Agreement. 

“Operating Agreement” means the limited liability company operating agreement of each LLC, as same has been amended
through the date hereof and as same may be amended from time to time in accordance with this Agreement. 

“Organizational Documents” means the Certificate of Formation, the Certificate of Incorporation, the Bylaws, the
Operating Agreement, and any other agreements affecting the rights, limitations, preferences or obligations of each Pledgor with respect to any of the foregoing or with respect to the Stock Interests or LLC Interests or otherwise, in each case, as
the same may be amended or modified from time to time in accordance with this Agreement. 
 “Pledged Interests”
means, collectively, the LLC Interests and the Stock Interests, together with all economic or voting rights with respect to any of the foregoing. 
 “Pledged Subsidiaries” means the LLCs and the Corporations. 

“Pledgor” has the meaning set forth in the preamble to this Agreement. 

“Proceeds” means all “proceeds” as such term is defined in Section 9-102 of the UCC and shall include, in
any event, without limitation, all dividends and other income from the Pledged Interests, collections thereon or distributions with respect thereto. 
 “Specified Event of Default” means an Event of Default arising pursuant to Section 6.01 (a)(ii) (failure to pay principal or premium when due), Section 6.01(a)(ix) (commencement
of a voluntary bankruptcy proceeding), Section 6.01(a)(x) (filing of involuntary bankruptcy proceedings) of the Indenture or such other Event of Default that results in the declaration of all Notes becoming due and payable immediately pursuant
to Section 6.02 of the Indenture. 
 “Stock Interests” has the meaning set forth in
Section 2.01(a)(i). 
 “Transaction Documents” means the Indenture, the Notes, this Agreement and each
other agreement contemplated by any of the foregoing. 
 “UCC” means at any time the Uniform Commercial Code as
in effect in the State of New York; provided that, if, by reason of mandatory provisions of law, the validity or perfection of Indenture Trustee’s security interest in the Collateral or any part thereof is governed by the Uniform
Commercial Code or other similar law as in effect in a jurisdiction 

  
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other than New York, “UCC” means the Uniform Commercial Code or such similar law as in effect in such other jurisdiction for purposes of the provisions hereof relating to such
validity or perfection. 
 (b) (i) The words “hereby,” “herein” and
“hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement and section, subsection, schedule and exhibit references are to this
Agreement unless otherwise specified. 
 (ii) The word “including” when used in this Agreement shall be
deemed to be followed by the words “but not limited to.” 
 ARTICLE II 

COLLATERAL: GENERAL TERMS 
 Section 2.01 Security Interest. As security for the Obligations, each Pledgor hereby grants the Indenture Trustee a continuing first-priority security interest in, Lien on, and right of
set-off against, and hereby assigns to the Indenture Trustee as security, all of such Pledgor’s right, title and interest, if any, in, to and under the following property and interests in property (save insofar as otherwise excluded by the
terms of this Agreement), whether now owned or hereafter acquired or existing and wherever located (collectively, the “Collateral”): 
 (a) (i) all of such Pledgor’s right, title and interest in and to the Equity Interests of the Corporations, including, for the avoidance of doubt, all voting rights connected therewith or related
thereto, and the certificates, if any, representing any of the foregoing (collectively, the “Stock Interests”) together with all instruments of transfer in respect of such Equity Interests in the form of Exhibit A attached
hereto, executed in blank and all cash, securities, dividends, Proceeds and other property at any time and from time to time received, receivable or otherwise distributed in respect of or in exchange for any and all of the Stock Interests;

 (ii) all of such Pledgor’s right, title and interest in and to the Equity Interests of the LLCs,
including, for the avoidance of doubt, all voting rights connected therewith or related thereto, and the certificates, if any, representing any of the foregoing (collectively, the “LLC Interests”) together with all instruments of
transfer in respect of such Equity Interests, executed in blank and all cash, securities, dividends, Proceeds and other property at any time and from time to time received, receivable or otherwise distributed in respect of or in exchange for any and
all of the LLC Interests; 
 (b) to the extent not included in clause (a) above, any and all rights,
remedies and privileges of such Pledgor under any of the Organizational Documents of the Corporations or the LLCs, as applicable; 
 (c) all securities hereafter delivered to the Indenture Trustee in substitution for or in addition to any and all of the Collateral, and all certificates and instruments representing or evidencing such
securities and all cash, securities, dividends, Proceeds and other property at any time and from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Collateral; 

  
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 (d) all additional shares of the Corporations, all additional limited
liability company interests of the LLCs or other Equity Interests of the Guarantors, as applicable, from time to time acquired by such Pledgor in any manner, and the certificates (if any) representing such additional shares of the Corporations or
additional limited liability company interest of the LLCs or other Equity Interests of the Guarantors, as applicable (all of which shall constitute part of the Pledged Interests), and all options and warrants from time to time received, receivable
or otherwise distributed in respect of or in exchange for any or all of such shares of the Corporations, limited liability company interests of the LLCs or other Equity Interests of the Guarantors, as applicable; 

(e) all books and records (including credit files, computer programs, printouts and other computer materials and records)
of such Pledgor pertaining to any of the Collateral; 
 (f) all of such Pledgor’s right, title and interest
in and to the profits and losses of the Corporations and the LLCs and such Pledgor’s right (i) as a shareholder of the Corporations and (ii) as a member of the LLCs, in each case, to receive distributions of the assets of the
Corporations and the LLCs, as the case may be, upon complete or partial liquidation or otherwise; and 
 (g) all
cash and non-cash Proceeds and products of the Collateral, and all dividends, cash, instruments and other property (whether constituting Investment Property, Accounts, Documents, General Intangibles or Instruments or otherwise) from time to time
received, receivable or otherwise distributed when Collateral or Proceeds are sold, leased, collected, exchanged or otherwise disposed of, whether such disposition is voluntary or involuntary, and includes, without limitation, all rights to payment,
including return premiums, with respect to any insurance relating thereto. 
 Section 2.02 Delivery of Certificates,
Instruments, Etc. Concurrently with the execution and delivery of this Agreement, the Indenture Trustee shall be in receipt of all original certificates, instruments and other documents, if any, evidencing or representing the Collateral or any
part thereof, in each case accompanied by, if applicable, a duly executed instrument of transfer executed in blank in respect of each of the respective Pledged Interests and each Pledgor shall file such UCC financing statements as shall be
reasonably required to ensure the Indenture Trustee the benefits of the first priority Lien on and to the Collateral. 

Section 2.03 Release of Security Interest. This Agreement and all security interests granted hereunder shall terminate or be
released in whole or in part with respect to the relevant portion of the Collateral in accordance with the terms of the Indenture. In connection with any such termination or release pursuant to the Indenture, the Indenture Trustee shall take, at the
written request of the Pledgors, all reasonable steps necessary to terminate and release the security interest in such Collateral granted hereunder and, if applicable, to promptly return the original stock certificate(s) then being held by the
Indenture Trustee, together with any original instruments of transfer and other similar documents then being held by the Indenture Trustee, if 

  
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any; provided that the Indenture Trustee may retain copies of any of the foregoing documents. When so terminated or released, the relevant portion of the Collateral shall be free and clear
of any Lien created hereunder or under the other Transaction Documents in favor of the Indenture Trustee. Upon a termination of all security interests granted hereunder with respect to all of the Collateral (and at the written request and at the
reasonable cost and expense of such Pledgor), the Indenture Trustee shall promptly execute a satisfaction of this Agreement and such instruments, documents or agreements as are reasonably necessary or desirable to terminate, discharge and remove of
record any documents constituting public notice of this Agreement and the security interests and assignment granted hereunder and shall deliver or cause to be delivered to such Pledgor all property (if any), including Monies, of such Pledgor
constituting Collateral then held by the Indenture Trustee. 
 Section 2.04 Pledgor Remains Liable. Notwithstanding
anything herein to the contrary, (a) each Pledgor shall remain liable under its Organizational Documents to the extent set forth therein and shall perform all of its respective duties and obligations thereunder to the same extent as if this
Agreement had not been executed; (b) the exercise by the Indenture Trustee of any of the rights hereunder shall not release any Pledgor from any of its duties or obligations under any of the Organizational Documents; and (c) the Indenture
Trustee shall not have any obligation or liability under any of the Organizational Documents by reason of this Agreement, nor shall the Indenture Trustee be obligated to perform any of the obligations or duties of any Pledgor thereunder or to take
any action to collect or enforce any claim for payment assigned hereunder; provided that, upon foreclosure of the Pledged Interests, the Indenture Trustee and any other transferee of the Collateral shall take the same subject to the
Organizational Documents. 
 ARTICLE III 
 REPRESENTATIONS, WARRANTIES AND COVENANTS OF PLEDGOR 

Section 3.01 Representations and Warranties. Each Pledgor makes the representations and warranties set forth below to the
Indenture Trustee: 
 (a) General Representations and Warranties. 

(i) No Consents. Except as required for perfection of the security interest in the Collateral as described in
Section 3.01(c), no permits, licenses, franchises, approvals, authorizations, qualifications or consents of, or registrations or filings with, governmental authorities are required in connection with the execution or delivery by such Pledgor
of, or the performance by such Pledgor of its obligations under, this Agreement, except such as have been obtained or made and are in full force and effect. 
 (ii) No Conflict. The execution and delivery of, and the performance by such Pledgor of its obligations under this Agreement do not and will not: (A) result in a breach or constitute a
violation of, conflict with, or constitute a default under, any of the Organizational Documents or the certificate of formation, the certificate of incorporations, the operating agreement or the bylaws of such Pledgor, (B) violate any law,
regulation, order or judgment of any governmental authority applicable to such 

  
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Pledgor, the Corporations or the LLCs, or (C) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any contractual obligation to
which such Pledgor, any Corporation or LLC, is a party or by which such Pledgor, any Corporation or LLC, or any of its property is bound (except where such breach would not cause a Material Adverse Effect). 

(iii) No Material Litigation. To such Pledgor’s knowledge after due inquiry, there are no judgments
outstanding against such Pledgor, or affecting any of the Collateral or any property of such Pledgor, nor is there any action, charge, claim, demand, suit, proceeding, petition, governmental investigation or arbitration now pending or threatened
against such Pledgor, that could reasonably be expected to result in a Material Adverse Effect. 
 (b) Title
to Collateral. 
 (i) Such Pledgor is the sole owner of all of its Collateral, beneficially and of record,
free and clear of any Liens other than (A) Liens created under this Agreement and the other Transaction Documents, (B) Liens that will be discharged or released in connection with the closing of the sale of the Notes and the use of
proceeds therefrom or (C) Liens permitted to be incurred pursuant to the Transaction Documents. The Collateral is not subject to any option to purchase or similar rights of any kind. 

(ii) Such Pledgor has full power and authority to enter into this Agreement. 

(iii) There are no restrictions upon the voting rights connected with or relating to, or upon the transfer of, the Pledged
Interests other than as arising pursuant to this Agreement and the other Transaction Documents. 
 (iv) Such
Pledgor has the right to vote, pledge and grant a security interest in or otherwise transfer its Pledged Interests free of any Liens other than (A) Liens created under this Agreement and the other Transaction Documents, (B) Liens that will
be discharged or released in connection with the closing of the sale of the Notes and the use of proceeds therefrom or (C) Liens permitted to be incurred pursuant to the Transaction Documents. 

(c) Perfection. 
 (i) Upon (x) the execution and delivery of this Agreement, (y) the receipt by the Indenture Trustee of the certificates representing the Collateral and the instruments of transfer relating
thereto, and (z) the filing of UCC financing statements by such Pledgor naming such Pledgor as the debtor and the Indenture Trustee as the secured party in the office of the Secretary of State of such Pledgor’s state of formation or
incorporation, the Indenture Trustee will have a valid, perfected, continuing, first-priority security interest in or lien on, respectively, the Collateral, perfected by either delivery or filing a financing statement under the UCC, as the case may
be. 

  
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 (ii) All instruments of transfer referred to in Sections 2.01(a) and 2.02
are duly executed and give the Indenture Trustee the authority they purport to confer. 
 (iii) The grant and
perfection of the security interests in the Pledged Interests and other Collateral for the benefit of the Indenture Trustee, in accordance with the terms hereof are not made in violation of the registration requirements of the Securities Act of 1933
(the “Securities Act”), any applicable provisions of other federal securities laws, state securities or “Blue Sky” laws, foreign securities law, or applicable general corporation law or any other applicable law.

 (d) Correct name, identification number, jurisdiction and location. The true and correct legal name,
organizational identification number, state of formation or incorporation of each Pledgor and the sole chief executive office each Pledgor is set forth on Schedule 2. 
 Section 3.02 Covenants. Each Pledgor covenants and agrees with the Indenture Trustee as set forth below: 

(a) Defense of Title. Such Pledgor shall defend its title to the Collateral against all claims of all Persons
whomsoever, except with respect to Liens created hereby or under the other Transaction Documents or such Liens as are permitted by this Agreement or the other Transaction Documents. 

(b) Additional Liens. Such Pledgor shall not permit any Lien (except such Liens as are otherwise permitted by the
Transaction Documents) to be created or exist with respect to the Collateral. 
 (c) Change in name,
identification number, jurisdiction or location. Such Pledgor shall not relocate its chief executive office to a new location, nor change its legal name, jurisdiction of formation or its organizational identification number without giving the
Indenture Trustee 10 days’ prior notice (or such shorter period of time as may be agreed to by the Indenture Trustee). 
 (d) Payment of Taxes. Such Pledgor shall pay, and save the Indenture Trustee harmless from, any and all liabilities with respect to, or resulting from any delay in paying, all stamp, excise, sale
or other taxes which may be due and payable or determined to be due and payable with respect to any of the Collateral or in connection with any of the transactions contemplated by this Agreement (excluding the Indenture Trustee’s income or
franchise taxes). 
 (e) Certificated LLC Interests. If such Pledgor owns any LLC Interests, such Pledgor
shall not vote to amend any Pledged Subsidiary’s applicable Operating Agreement to allow the applicable LLC to issue certificated LLC Interests that expressly provide that such LLC Interests are securities governed by Article 8 of the UCC.
Notwithstanding the foregoing sentence, if any certificates are issued to evidence any LLC Interest, the applicable Pledgor agrees to deliver such certificates in accordance with Section 2.02. 

  
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 (f) Deliveries. Such Pledgor agrees to execute and deliver to each of
its Pledged Subsidiaries that is a limited liability company a control acknowledgment (“Control Acknowledgment”) substantially in the form of Exhibit B hereto. Such Pledgor shall cause each such Pledged Subsidiary to acknowledge in
writing its receipt and acceptance thereof. Such Control Acknowledgment shall instruct such Pledged Subsidiary to follow instructions from the Indenture Trustee without such Pledgor’s consultation or consent after the occurrence and during the
continuance of an Event of Default. 
 (g) Amendments to Organizational Documents. Such Pledgor shall not
agree to amend, modify or supplement any Organizational Document if such amendment, modification or supplement could reasonably be expected to materially and adversely affect the validity of the Liens created under this Agreement or the ability of
the Noteholders or the Indenture Trustee, on behalf of the Noteholders, to exercise their rights and remedies with respect to such Liens on the Collateral in accordance with this Agreement. 

Section 3.03 Protection of Collateral. Each Pledgor covenants and agrees with the Indenture Trustee that such Pledgor will
not create, permit or suffer to exist, and will defend the Collateral against and take such other action as is necessary to remove, any Lien on such Collateral other than as permitted by the Transaction Documents, and if such Pledgor fails to do so,
the Indenture Trustee may, without waiving or releasing any obligation or liability of such Pledgor hereunder or any Event of Default, at any time thereafter (but shall be under no obligation to), make such payment or any part thereof, obtain such
discharge or otherwise defend such Pledgor’s title to Collateral. All sums so paid by the Indenture Trustee and any reasonable expenses incurred by the Indenture Trustee in connection therewith, including reasonable attorneys’ fees, court
costs, expenses and other charges relating thereto, shall be payable, by such Pledgor to the Indenture Trustee within five (5) Business Days after written notice therefor is given by the Indenture Trustee to such Pledgor, and shall be deemed
additional Obligations secured by the Collateral. 
 Section 3.04 Sale or Pledge of Related Collateral. Each Pledgor
covenants and agrees with the Indenture Trustee that such Pledgor shall not sell, assign, transfer or otherwise dispose of, or pledge, hypothecate or otherwise encumber, directly or indirectly, whether by operation of law or otherwise (except to the
extent permitted by this Agreement or the other Transaction Documents), any of the Collateral or any interest therein. 

Section 3.05 Further Assurance, Preservation and Perfection of Security Interest. Each Pledgor covenants and agrees with the
Indenture Trustee that: 
 (a) At its own expense, such Pledgor shall do all such acts, and shall execute and
deliver to the Indenture Trustee all such certificates, instruments and other documents and shall do and perform or cause to be done all matters and such other things necessary or advisable to be done as the Indenture Trustee may reasonably request
from time to time in order to give full effect to this Agreement, and for the purpose of effectively perfecting, maintaining and preserving the Indenture Trustee’s security interest and the benefits intended to

  
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be granted to the Indenture Trustee hereunder. To the extent permitted by applicable law, such Pledgor hereby authorizes the Indenture Trustee, during the term of this Agreement, to file, in the
name of such Pledgor or otherwise, UCC financing statements, including continuation statements, which the Indenture Trustee in its reasonable discretion may deem necessary or appropriate for the purpose specified above. 

(b) If such Pledgor fails to perform any act required by this Agreement, the Indenture Trustee may, but shall not be
obligated to, perform or cause the performance of such act, and the reasonable expenses of the Indenture Trustee incurred in connection therewith shall be governed by Section 5.07 hereof. 

Section 3.06 Rights of Pledgor. Each Pledgor covenants and agrees with the Indenture Trustee that, unless an Event of Default
(or, with respect to clause (b) below, a Specified Event of Default) shall have occurred and be continuing, notwithstanding anything herein to the contrary, such Pledgor shall be entitled to (a) exercise any and all voting and other
consensual rights and powers pertaining to the related Pledged Interests or any part thereof for any purpose not inconsistent with the terms of this Agreement or the other Transaction Documents; provided that such rights and powers shall not
be exercised in any manner that could reasonably be expected to materially and adversely affect the validity of the Liens created under this Agreement or the ability of the Noteholders or the Indenture Trustee, on behalf of the Noteholders, to
exercise their rights and remedies with respect to such Liens on the Collateral in accordance with this Agreement, (b) receive and use, free and clear of any Lien created hereby or any security interest granted by such Pledgor to the Indenture
Trustee hereunder, for any purpose, any distributions actually made, and any allocations actually made, with respect to the Pledged Interests (whether as a distribution of net cash flow or otherwise), (c) retain its books and records (including
credit files, computer programs, printouts and other computer materials and records) pertaining to the Collateral and (d) all rights and benefits of a member, partner or shareholder, as applicable, in the related Pledged Subsidiary, subject to
the limitations set forth in this Agreement. 
 Section 3.07 Preservation of Related Collateral. Each Pledgor
covenants and agrees with the Indenture Trustee that such Pledgor shall perform or cause to be performed when due all of its obligations under and in respect of the Collateral. 

Section 3.08 Papers, Records and Files. Each Pledgor covenants and agrees with the Indenture Trustee that: 

(a) Maintenance. Such Pledgor shall acquire and shall assemble, maintain and preserve (in each case, in a manner
consistent with such Pledgor’s ordinary course of business) and have available material documents, records and files related to the Collateral, including all minute books and all material statements and other information delivered to such
Pledgor pursuant to the Organizational Documents. 
 (b) Pledgor to Hold Records for Indenture Trustee.
For so long as the Indenture Trustee has a security interest in any Collateral, such Pledgor will hold or cause to be held material documents, records and files related to such Collateral for the Indenture Trustee. 

(c) Indenture Trustee’s Rights of Inspection. Upon reasonable advance notice from the Indenture Trustee, and
during regular business hours, such Pledgor shall make material documents, records and files related to the Collateral available to the Indenture Trustee in order that the Indenture Trustee may examine any such documents, records and files, either
by its employees or by agents or contractors, or both, and make copies of all or any portion thereof. 

  
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 The representations and warranties set forth in this Article III shall survive the execution
and delivery of this Agreement, but, subject to Section 6.12 of this Agreement, shall terminate upon payment in full of the Obligations or the satisfaction and discharge or defeasance of the Indenture. 

ARTICLE IV 

NEGATIVE PLEDGE AGREEMENT 
 Section 4.01 Negative Covenants. Each Pledgor covenants and agrees that until such time as all Obligations shall have been paid and performed in full, or the Indenture shall have been
satisfied and discharged or defeased in accordance with its terms, such Pledgor will not, without the written consent of the Indenture Trustee or except as permitted by the Indenture: 

(i) sell, assign, pledge, grant any Lien on, other than Liens permitted under the Transaction Documents, transfer, dispose
of or otherwise encumber the Collateral or any part thereof, including, without limitation, entering into any lock-up or any other arrangement with respect to the Collateral; or 

(ii) vote to enable, or take any other action to permit, or fail to take any available action to prevent, the Corporations
or the LLCs to issue any shares of the Corporations or limited liability company membership interests of the LLCs, as applicable, or to issue any other securities convertible into or granting the right to purchase or exchange for any shares of the
Corporations or limited liability company memberships interests of the LLCs, as applicable. 
 ARTICLE V 

INDENTURE TRUSTEE RIGHTS AND REMEDIES 
 Section 5.01 Remedies. (a) Should any Event of Default (or, with respect to clause (v), a Specified Event of Default) occur and be continuing, the Indenture Trustee is hereby authorized
and empowered, at its election, to do any of the following without liability (except to the extent liability results from the gross negligence or willful misconduct of the Indenture Trustee) except to account for money and other property actually
received by it, but the Indenture Trustee shall have no duty to exercise any such right, privilege or options and shall not be responsible for any failure to so or delay in so doing: 

(i) to transfer and register in its or its nominee’s name the whole or any part of the Collateral, including by means
of the completion of the instruments of transfer referred to in Sections 2.01, 2.02 or 3.02(f); 

  
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 (ii) to exercise all voting rights with respect to the Collateral;

 (iii) to demand, sue for, collect, receive and give acquittance for any and all cash distributions (including
distributions to which any Pledgor would otherwise be entitled pursuant to Section 3.06 of this Agreement) or Monies due or to become due upon or by virtue thereof, and to settle, prosecute or defend any action or proceeding with respect
thereto; 
 (iv) to sell in one or more sales (public or private) the whole or any part of the Collateral or
otherwise to transfer or assign the same, in each case, however, to the extent permitted and in the manner provided in the UCC; 
 (v) to receive and retain all distributions on the Collateral; 

(vi) to otherwise enforce and act with respect to the Collateral or the Proceeds as though the Indenture Trustee were the
outright owner thereof; 
 (vii) to exercise all other rights and remedies available under law or in equity; and

 (viii) upon the exercise by the Indenture Trustee of any right, privilege or option pertaining to the Pledged
Interests, and in connection therewith, the right to deposit and deliver any and all of the Pledged Interests with any committee, depository, transfer agent, registrar or other designated agency upon such terms and conditions as it may determine.
The Indenture Trustee is hereby granted a power of attorney to effect the aforesaid registration in the name of the Indenture Trustee or its nominee of the Pledged Interests. 
 Notwithstanding anything herein to the contrary, unless a Specified Event of Default has occurred and is continuing, the Indenture Trustee shall not, and is not authorized and empowered to, take any
action or exercise any right, privilege, remedy or option pursuant to this Section 5.01 or otherwise that would impede, interfere with or otherwise restrict or prevent any Pledgor from receiving or using, free and clear of any Lien created
hereby or any security interest granted by such Pledgor to the Indenture Trustee hereunder, for any purpose, any distributions actually made, and any allocations actually made, with respect to the Pledged Interests (whether as a distribution of net
cash flow or otherwise). 
 (b) In the event of any disposition of the Collateral as provided in
Section 5.01(a)(iv), the Indenture Trustee shall give to the Pledgors at least ten (10) Business Days prior written notice of the time and place of any public sale of the Collateral or of the time after which any private sale (to the
extent permitted by applicable law) or any other intended disposition is to be made, unless a longer period is required by applicable law. The Pledgors hereby acknowledge that ten (10) Business Days prior written notice of such sale or sales
shall 

  
 12 

 
be reasonable notice. Except as otherwise provided in the Transaction Documents or the UCC, the Indenture Trustee may enforce its rights hereunder without any other notice and without compliance
with any other condition precedent now or hereunder imposed by statute, rule of law or otherwise (all of which are hereby expressly waived by the Pledgors, to the fullest extent permitted by law). The Indenture Trustee may buy any part or all of the
Collateral at any public sale conducted in accordance with the UCC and as set forth herein. 
 (c) The Pledgors
recognize that the Indenture Trustee may be unable to effect a public sale of the Collateral, or any part thereof by reason of certain prohibitions contained in the Securities Act, and other applicable laws, but may be compelled to resort to one or
more private sales thereof (to the extent permitted by applicable law) to a restricted group of purchasers and may otherwise be required to impose additional limitations on sales as a result thereof. The Pledgors agree that any such private sales
may be at prices and other terms less favorable to the seller than if sold at public sales and that such private sales shall not by reason thereof be deemed not to have been made in a commercially reasonable manner. Each Pledgor agrees to use its
best efforts to cause the respective Corporations and the LLCs to execute and deliver all such instruments and documents and to do or cause to be done all such other acts and things as may be necessary or, in the reasonable opinion of the Indenture
Trustee, advisable (i) to cause the Collateral, or any part thereof, to be exempt from registration under the provisions of the Securities Act, (ii) to amend such instruments and documents which, in the opinion of the Indenture Trustee,
are necessary or advisable to meet the requirements of the Securities Act and the rules and regulations of the Securities and Exchange Commission applicable thereto, and (iii) to make any sales of any portion or all of the Collateral pursuant
to this Section 5.01 valid and binding and in compliance with any and all applicable laws, provided that nothing herein shall require or imply that the Pledged Interests are to be registered under the Securities Act or other similar laws. Each
Pledgor further agrees to use its best efforts to cause the Corporations to comply with the provisions of the state securities or “Blue Sky” laws of any jurisdiction which the Indenture Trustee shall designate, to the extent that any such
laws apply under circumstances under which the Collateral is exempt from registration under the provisions of the Securities Act. 
 Section 5.02 Limitation on Duties Regarding Collateral. 

(a) Beyond the exercise of reasonable care in the custody thereof, the Indenture Trustee shall have no duty as to any
Collateral in its possession or control or in the possession or control of any agent or bailee or any income thereon or as to preservation of rights against prior parties or any other rights pertaining thereto and the Indenture Trustee shall not be
responsible for filing any financing or continuation statements or recording any documents or instruments in any public office at any time or times or otherwise perfecting or maintaining the perfection of any security interest in the Collateral. The
Indenture Trustee shall be deemed to have exercised reasonable care in the custody of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which it accords its own property and shall not be liable or
responsible for any loss or diminution in the value of any of the Collateral, by reason of the act or omission of any carrier, forwarding agency or other agent or bailee selected by the Indenture Trustee in good faith. 

  
 13 

 (b) The Indenture Trustee shall not be responsible for the existence,
genuineness or value of any of the Collateral or for the validity, perfection, priority or enforceability of the Liens in any of the Collateral, whether impaired by operation of law or by reason of any action or omission to act on its part
hereunder, except to the extent such action or omission constitutes gross negligence, bad faith or willful misconduct on the part of the Indenture Trustee, for the validity or sufficiency of the Collateral or any agreement or assignment contained
therein, for the validity of the title of the Pledgors to the Collateral, for insuring the Collateral or for the payment of taxes, charges, assessments or liens upon the Collateral or otherwise as to the maintenance of the Collateral. The Indenture
Trustee shall have no duty to ascertain or inquire as to the performance or observance of any of the terms of this Agreement, the Operating Agreement or any other Organizational Documents or Transaction Documents by the Pledgors or the Pledged
Subsidiaries. 
 Section 5.03 Prejudgment Remedy Provision. After the occurrence and during the continuance of an
Event of Default, in the event of any legal action between a Pledgor and the Indenture Trustee hereunder, such Pledgor expressly waives, to the extent permitted by law, any and all rights such Pledgor may have under the law as now constituted or
hereafter amended that may constitute a limitation on prejudgment remedies, and the Indenture Trustee may invoke any prejudgment remedy available to it, including garnishment, attachment, foreign attachments and replevin, with respect to the
Collateral, to enforce the provisions of this Agreement. 
 Section 5.04 Application of Proceeds. Except as
otherwise provided herein or in the other Transaction Documents, the Indenture Trustee shall apply any Proceeds from time to time held by it and the net proceeds of any such collection, recovery, receipt, appropriation, realization or sale, after
deducting all reasonable out-of-pocket costs and expenses of every kind incurred therein or incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights of the Indenture Trustee hereunder,
including, without limitation, reasonable attorney’s fees and disbursements, to the payment in whole or in part of the Obligations, in such order as the Indenture Trustee may elect, and only after such application and after the payment by the
Indenture Trustee of any other amount required by any provision of law, including, without limitation, Section 9-615 of the UCC, need the Indenture Trustee account for the surplus, if any, to any Pledgor. 

Section 5.05 Non-Recourse. Except as otherwise provided in this Agreement or in any other of the Transaction Documents, no
recourse shall be had against the Pledgors or any incorporator, affiliate, shareholder, stockholder, member, officer, employee or director of the Pledgors by the enforcement of any assessment or by any legal or equitable proceeding, in respect of
any of the Obligations, it being expressly agreed and understood that the Obligations will be satisfied solely out of the Collateral and any other property in which the Pledgors have any right, title or interest and in respect of which the Pledgors
grant a security interest for the satisfaction of the Obligations under any Transaction Document. 
 Section 5.06
Appointment of Indenture Trustee as Pledgor’s Lawful Attorney. Each Pledgor irrevocably designates, makes, constitutes and appoints the Indenture Trustee (and all Persons designated by the Indenture Trustee) as its true and lawful proxy
and attorney-in-fact (coupled with an interest) upon the occurrence and continuance of an Event of Default to take the following actions: 
 (a) To Endorse Pledgor’s Name. At such time or times hereafter as the Indenture Trustee or its agent in its sole discretion may determine, in such Pledgor’s or the Indenture
Trustee’s name, to endorse such Pledgor’s name on any checks, notes, drafts, instruments, documents or any other payment relating to the Collateral or Proceeds which come into the possession of the Indenture Trustee or come under the
Indenture Trustee’s control; 

  
 14 

 (b) To Sign Pledgor’s Name to Perfection Documents. To the
extent permitted by law, to sign such Pledgor’s name on any documents (including authorizing the filing of financing statements and continuations thereof) necessary or desirable for the purpose of maintaining or achieving the perfection of a
security interest in the Collateral; and 
 (c) To Sign Pledgor’s Name on Other Documents. To the
extent permitted by law, to sign such Pledgor’s name to any document necessary or appropriate in order to permit the Indenture Trustee to fully exercise its rights under Section 5.01. 

Section 5.07 Reimbursement. All reasonable sums expended by the Indenture Trustee in connection with the exercise of any
right or remedy provided for herein shall be and shall remain the obligation of the Pledgors. At the option of the Indenture Trustee, all such reasonable sums may be paid from the Collateral or may be advanced by the Indenture Trustee, in which
event they shall be deemed to have been advanced to any Pledgor and shall be reimbursed by such Pledgor to the Indenture Trustee within five (5) Business Days after the Indenture Trustee’s written notice to such Pledgor therefor. Such sums
shall constitute part of the Obligations. 
 Section 5.08 Exoneration of Indenture Trustee; Certain Reimbursements.

 (a) Indenture Trustee’s Powers for Indenture Trustee’s Sole Benefit. The powers conferred on
the Indenture Trustee hereunder are solely for the Indenture Trustee’s benefit, and do not impose any duty on the Indenture Trustee to exercise any such powers. Each Pledgor waives, to the fullest extent permitted by law, all rights whatsoever
against the Indenture Trustee for any loss, expense, liability or damage suffered by such Pledgor as a result of actions taken pursuant to this Agreement, including those arising under any “mortgagee in possession” doctrine or the like,
except to the extent such losses, expenses, liabilities or damages result from the gross negligence or willful misconduct of the Indenture Trustee, or to the extent otherwise provided herein. 

(b) Pledgor to Reimburse Indenture Trustee for Collateral- Preservation Fees and Taxes. Without limiting the
application of Section 5.08(a), each Pledgor shall pay or reimburse the Indenture Trustee for all reasonable, out-of-pocket fees and taxes (but excluding any income or other similar tax imposed on the Indenture Trustee) in connection with
preserving the Collateral and the Indenture Trustee’s interest therein, whether through judicial proceedings or otherwise, or in defending or prosecuting any actions, suits or proceedings arising out of or relating to the Collateral, except to
the extent such fees and taxes result from the fraud, gross negligence or willful misconduct of the Indenture Trustee. Such fees and taxes will constitute part of the Obligations. 

  
 15 

 Section 5.09 Waiver of Redemption and Deficiency Rights. Each Pledgor hereby
waives, to the fullest extent permitted by law, every statute of limitation, any right of redemption, any moratorium or redemption period, and any right which such Pledgor may have to direct the order in which any of the Collateral shall be disposed
of in the event of any disposition thereof pursuant hereto, except as otherwise provided herein or in the other Transaction Documents. 
 Section 5.10 Incorporation of Rights under Indenture. In furtherance of, and not in limitation of, the rights of the Indenture Trustee hereunder, all of the rights, privileges, protections,
immunities and indemnities provided to the Indenture Trustee under the Indenture are hereby incorporated herein as if set forth herein in full. 
 ARTICLE VI 
 MISCELLANEOUS 

Section 6.01 Security Agreement. This Agreement is intended to be a security agreement pursuant to the UCC for any and all of
the Collateral purported to be covered by this Agreement, and, prior to the occurrence of and continuation of an Event of Default hereunder, any assignment of the Collateral by each Pledgor pursuant to this Agreement is an assignment for security
purposes only. 
 Section 6.02 Remedies Cumulative. The rights, remedies and benefits of the Indenture Trustee
herein specified are cumulative and not exclusive of any other rights, remedies or benefits which the Indenture Trustee may have under this Agreement or any other Transaction Documents, at law, in equity, by statute or otherwise. Without limiting
the generality of the foregoing, the Indenture Trustee shall have all rights and remedies of a secured party under Article 9 of the UCC in each applicable jurisdiction. 
 Section 6.03 Security Interest Absolute. All rights of the Indenture Trustee hereunder, the grant of a security interest in the Collateral and all obligations of the Pledgors hereunder, shall
be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Organizational Documents or Transaction Documents, (b) any change in time, manner or place of payment of, or in any other term of, all or any
of the Obligations, or any release, amendment or waiver of or any consent to any departure from the Transaction Documents, (c) any exchange, release or nonperfection of any other collateral, or any release, amendment or waiver of or consent to
or departure from any guarantee, for all or any of the Obligations, or (d) any other similar circumstance which might otherwise constitute a defense available to, or a discharge of, a Pledgor in respect of the Obligations or in respect of this
Agreement. 
 Section 6.04 No Delay; Waivers. No delay on the part of the Indenture Trustee in exercising any power
or right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any power or right hereunder preclude other or further exercise thereof or the exercise of any other power or right. The Indenture Trustee shall not be
deemed to have waived any rights hereunder unless such waiver shall be in writing and signed by the Indenture Trustee. 

  
 16 

 Section 6.05 Further Assurances. Each party to this Agreement shall execute such
assignments, endorsements and other instruments and documents and shall give such further assurances as shall be necessary to perform its obligations hereunder. 
 Section 6.06 Waivers and Amendments. None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise modified except in accordance with Article 9 of the
Indenture. 
 Section 6.07 Notices. All notices, consents, approvals and requests required or permitted hereunder
shall be given in writing and shall be delivered in accordance with Section 13.02 of the Indenture. 
 Section 6.08
Governing Law. This Agreement and the obligations arising hereunder shall be governed by, and construed in accordance with, the laws of the State of New York applicable to contracts made and intended to be performed in such State, without
giving effect to principles of conflicts of laws, and any applicable law of the United States of America. To the fullest extent permitted by law, each of the Pledgors and the Indenture Trustee hereby unconditionally and irrevocably waive any claim
to assert that the law of any other jurisdiction governs this Agreement and this Agreement shall be governed by and construed in accordance with the internal laws of the State of New York, without giving effect to principles of conflicts of laws.
Each party agrees that any legal suit, action or proceeding against any Pledgor and the Indenture Trustee arising out of or relating to this agreement shall be instituted in any federal or state court in New York, and each of the Pledgors and the
Indenture Trustee waives any objection which it may now or hereafter have to the laying of venue of any such suit, action or proceeding, and each of the Pledgors and the Indenture Trustee hereby irrevocably submits to the jurisdiction of any such
court in any suit, action or proceeding. 
 Section 6.09 Waiver of Jury Trial. THE PLEDGORS AND THE INDENTURE
TRUSTEE TO THE FULLEST EXTENT THAT THEY MAY LAWFULLY DO SO, HEREBY WAIVE TRIAL BY JURY IN ANY ACTION OR PROCEEDING INCLUDING WITHOUT LIMITATION, ANY TORT ACTION BROUGHT BY ANY PARTY HERETO WITH RESPECT TO THIS AGREEMENT. 

Section 6.10 Binding Agreement; Assignments. This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and permitted assigns. Each Pledgor shall not assign this Agreement or any interest herein or in the Collateral, or any part thereof, or any cash or property held by the Indenture Trustee as Collateral under
this Agreement, except (a) with the prior written consent of the Indenture Trustee, if applicable, or (b) as permitted under the Indenture. Any purported assignment in violation of this Section shall be null and void. 

Section 6.11 Additional Covenants of Pledgor. Each Pledgor covenants and agrees with the Indenture Trustee that, from and
after the date of this Agreement until the Obligations are paid and performed in full, or the Indenture is satisfied and discharged or defeased in accordance with its terms, such Pledgor shall use its best efforts in accordance with the
Organizational Documents of the Corporations and LLCs to cause such Corporations and LLCs (in such entities’ individual capacity or in their capacity as the managing member of any 

  
 17 

 
LLC) to take the actions and achieve the objectives listed in this Agreement (and such Pledgor agrees that such Pledgor will not take any action, or refuse to grant any consents, which would
interfere with or impede the ability of the Corporations or the LLCs to take such actions or achieve such objectives). 
 (a) [Reserved]. 
 (b) Further Assurances. Each of the
Pledgors, the Corporations and the LLCs shall, insofar as it is able at any time and from time to time, and at no cost or expense to the Indenture Trustee, promptly and duly execute and deliver such further instruments and documents and take such
further actions as the Indenture Trustee may reasonably request to carry out and obtain and preserve the full benefits of this Agreement and the other Transaction Documents and of the rights and powers granted herein and therein. 

Section 6.12 Restoration or Set Aside. If, for any reason, any portion of a Pledgor’s payments to the Indenture Trustee
pursuant to the Obligations is set aside or restored, whether voluntarily or involuntarily, after the making thereof, then the obligation intended to be satisfied thereby shall be revived and shall continue in full force and effect as if said
payment or payments had not been made (and such Pledgor’s obligations and liabilities to the Indenture Trustee under this Agreement shall be reinstated to such extent and this Agreement and any Collateral for this Agreement shall remain in full
force and effect (or shall be reinstated) to such extent), and the full amount the Indenture Trustee is required to repay, plus any and all reasonable costs and expenses (including (i) reasonable attorneys’ fees and expenses and
(ii) reasonable attorneys’ fees and expenses incurred pursuant to the Bankruptcy Code) paid by the Indenture Trustee in connection therewith, shall constitute additional Obligations. 

Section 6.13 Severability. If any provision of this Agreement shall be invalid, illegal or unenforceable, then, to the extent
permitted by law, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 6.14 Section Headings. Section headings used herein are for convenience of reference only and are not to affect the construction of, or to be taken into consideration in interpreting,
this Agreement. 
 Section 6.15 Counterparts. This Agreement may be executed in any number of counterparts, each of
which shall be deemed an original, but all of which shall constitute one and the same instrument. Delivery of an executed counterpart of this Agreement by facsimile or email (in PDF or similar format) shall be effective as a manually delivered
counterpart hereof. 
 Section 6.16 No Third Party Beneficiaries. This Agreement is entered into for the benefit of
the Indenture Trustee for the benefit of the Noteholders, and no third parties shall have any direct rights hereunder. 

Section 6.17 Entire Agreement. This Agreement, taken together with the other Transaction Documents, supersedes all prior
written agreements and understandings between the parties hereto with respect to the subject matter hereof, whether express or implied, written or oral. 

  
 18 

 Section 6.18 Additional Consents. By executing this Agreement, each of the
Pledgors and the Corporations shall, and each of the foregoing shall, insofar as it is able, cause the LLCs to, (a) consent to (i) the pledge by each Pledgor to the Indenture Trustee of the Pledged Interests, (ii)(x) the transfer of the
Pledged Interests and (y) the right to exercise all voting and management rights appurtenant or relating to that Pledged Interest in each case, by or in lieu of, foreclosure of the pledge (it being agreed that Indenture Trustee may, in its sole
discretion, foreclose solely on the voting or management rights in accordance with the terms of this Agreement) and (iii) upon the aforesaid transfer of the Pledged Interests, the change in control of the Corporations and the LLCs and
(b) acknowledges and agrees that the foreclosure of the Pledged Interests by the Indenture Trustee or other transfer of the Pledged Interests in lieu of foreclosure, shall not constitute an unpermitted transfer under any of the Organizational
Documents. 
 [Remainder of Page Left Intentionally Blank] 

  
 19 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the date first above written. 
  

					
	PLEDGORS:
	
	 CC HOLDINGS GS V LLC,
 a Delaware limited liability company

	 PINNACLE TOWERS LLC,
 a Delaware limited liability company

	 PINNACLE TOWERS III LLC,
 a Delaware limited liability company

	 PINNACLE TOWERS V INC.,
 a Florida corporation

		
	By:	 	/s/ Jay Brown
		 	Name:	 	Jay Brown
		 	Title:	 	Senior Vice President, Chief
		 	Financial Officer and Treasurer
	
	INDENTURE TRUSTEE:
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

 [Signature Page to Pledge and Security Agreement] 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the date first above written. 
  

					
	PLEDGORS:
	
	 CC HOLDINGS GS V LLC,
 a Delaware limited liability company

	 PINNACLE TOWERS LLC,
 a Delaware limited liability company

	 PINNACLE TOWERS III LLC,
 a Delaware limited liability company

	 PINNACLE TOWERS V INC.,
 a Florida corporation

		
	By:	 	 
		 	Name:	 	Jay Brown
		 	Title:	 	SVP, CFO & Treasurer
	
	INDENTURE TRUSTEE:
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
		
	By:	 	/s/ L. Dillard
		 	Name:	 	L. Dillard
		 	Title:	 	Vice President

 [Pledge and Security Agreement Signature Page] 

 EXHIBIT A 
 STOCK POWER 
 FOR VALUE RECEIVED, the undersigned does hereby sell, assign
and transfer to
                                         Shares
of Common Stock of                     , a
                     corporation, represented by Certificate No.     (the “Stock”), standing in the name of the
undersigned on the books of said corporation and does hereby irrevocably constitute and appoint
                                         as the
undersigned’s true and lawful attorney, for it and in its name and stead, to sell, assign and transfer all or any of the Stock, and for that purpose to make and execute all necessary acts of assignment and transfer thereof; and to substitute
one or more persons with like full power, hereby ratifying and confirming all that said attorney or substitute or substitutes shall lawfully do by virtue hereof. 
 Dated:                     

 

			
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT B 
 CONTROL ACKNOWLEDGMENT 
  

			
	PLEDGED SUBSIDIARY:	  	MEMBERSHIP INTEREST OWNER:
		
	[                              
                                      ]	  	[                              
                                      ]

 Reference is hereby made to that certain Pledge and Security Agreement, dated as of December 24,
2012 (the “Pledge Agreement”), among CC HOLDINGS GS V LLC, PINNACLE TOWERS LLC, PINNACLE TOWERS III LLC, PINNACLE TOWERS V INC. and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as indenture trustee (the “Indenture
Trustee”).
[                                        ]
(“Pledgor”) is a member of
[                                        ], a
Delaware limited liability company (a “Pledged Subsidiary”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed thereto in the Pledge Agreement. 

Pledged Subsidiary is hereby instructed by Pledgor that all of Pledgor’s right, title and interest in and to all of Pledgor’s
rights in connection with any membership interests in Pledged Subsidiary now and hereafter owned by Pledgor are subject to a pledge and security interest in favor of the Indenture Trustee. Pledgor hereby instructs the Pledged Subsidiary to act upon
any instruction delivered to it by the Indenture Trustee with respect to the Collateral after the occurrence and during the continuance of an Event of Default (as defined in the Indenture) without seeking further instruction from Pledgor, and, by
its execution hereof, the Pledged Subsidiary agrees to do so. 
 Pledged Subsidiary, by its written acknowledgement and
acceptance hereof, hereby acknowledges receipt of a copy of the Pledge Agreement and agrees promptly to note on its books the security interest granted under the Pledge Agreement. Each Pledged Subsidiary also waives any rights or requirements at any
time hereafter to receive a copy of the Pledge Agreement in connection with the registration of any Collateral in the name of the Indenture Trustee or its nominee or the exercise of voting rights by the Indenture Trustee or its nominee in accordance
with the terms of the Pledge Agreement. 
 [The remainder of this page is intentionally blank.] 

 IN WITNESS WHEREOF, Pledgor has caused this Control Acknowledgment to be duly signed and
delivered by its officer duly authorized as of this      day of             , 2012. 

 

			
	PLEDGOR:
	
	[                            
            ]
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Acknowledged and accepted this      day of             , 2012
	
	[                            
            ]
		
	By:	 	  

		 	Name:
		 	Title:

 SCHEDULE 1 

Pledged Equity Interests 
  

									
	 Pledgor
	  	 Pledged Subsidiary
	  	 Certificate

No. (if

any)
	  	Percentage
of Equity
Interests
Subject to
Pledge	 
	 CC HOLDINGS GS V LLC
	  	GLOBAL SIGNAL ACQUISITIONS LLC	  	N/A	  	 	100	% 
	 CC HOLDINGS GS V LLC
	  	GLOBAL SIGNAL ACQUISITIONS II LLC	  	N/A	  	 	100	% 
	 CC HOLDINGS GS V LLC
	  	PINNACLE TOWERS LLC	  	N/A	  	 	100	% 
	 PINNACLE TOWERS LLC
	  	INTRACOASTAL CITY TOWERS LLC	  	N/A	  	 	100	% 
	 PINNACLE TOWERS LLC
	  	TOWER SYSTEMS LLC	  	N/A	  	 	100	% 
	 PINNACLE TOWERS LLC
	  	RADIO STATION WGLD LLC	  	N/A	  	 	100	% 
	 PINNACLE TOWERS LLC
	  	HIGH POINT MANAGEMENT CO. LLC	  	N/A	  	 	100	% 
	 PINNACLE TOWERS LLC
	  	ICB TOWERS, LLC	  	N/A	  	 	100	% 
	 PINNACLE TOWERS LLC
	  	AIRCOMM OF AVON, L.L.C.	  	N/A	  	 	100	% 
	 PINNACLE TOWERS LLC
	  	INTERSTATE TOWER COMMUNICATIONS LLC	  	N/A	  	 	100	% 
	 PINNACLE TOWERS LLC
	  	TOWER TECHNOLOGY COMPANY OF JACKSONVILLE LLC	  	N/A	  	 	100	% 
	 PINNACLE TOWERS LLC
	  	PINNACLE TOWERS III LLC	  	N/A	  	 	100	% 
	 PINNACLE TOWERS LLC
	  	COVERAGE PLUS ANTENNA SYSTEMS LLC	  	N/A	  	 	100	% 
	 PINNACLE TOWERS III LLC
	  	PINNACLE TOWERS V INC.	  	2	  	 	100	% 
	 PINNACLE TOWERS V INC.
	  	SHAFFER & ASSOCIATES, INC.	  	6	  	 	100	% 
	 PINNACLE TOWERS V INC.
	  	SIERRA TOWERS, INC.	  	11	  	 	100	% 

 SCHEDULE 2 

Pledgor Information 
  

							
	 Pledgor
	  	 Organizational

Identification

number
	  	 State of Formation

or Incorporation
	  	 Sole Chief Executive

Office

				
	CC HOLDINGS GS V LLC	  	4105765	  	Delaware	  	1220 Augusta Drive, Suite 500, Houston, Texas 77057
				
	PINNACLE TOWERS LLC	  	2499194	  	Delaware	  	1220 Augusta Drive, Suite 500, Houston, Texas 77057
				
	PINNACLE TOWERS III LLC	  	3785309	  	Delaware	  	1220 Augusta Drive, Suite 500, Houston, Texas 77057
				
	PINNACLE TOWERS V INC.	  	P00000083225	  	Florida	  	1220 Augusta Drive, Suite 500, Houston, Texas 77057

 Receipt of Pledged Stock Certificate 

In connection with that certain $500,000,000 aggregate principal amount of 2.381% Senior Secured Notes due 2018 and the $1,000,000,000 aggregate
principal amount of 3.849% Senior Secured Notes due 2023 offering, dated as of December 24, 2012 by Crown Castle GS Holdings V LLC and Crown Castle GS III Corp., the undersigned hereby acknowledges receipt, as of the date hereof, of the
following original certificates evidencing the equity interests described below: 
  

											
	 Pledgor
	  	 Issuer
	  	Certificate
Number	 	  	Number of
Shares/Percentage
Interest	 
	 Pinnacle Towers III LLC
	  	Pinnacle Towers V Inc.	  	 	2	  	  	 	2,000,000	  
	 Pinnacle Towers V INC.
	  	Shaffer & Associates, Inc.	  	 	6	  	  	 	500	  
	 Pinnacle Towers V INC.
	  	Sierra Towers, Inc.	  	 	11	  	  	 	10,000	  

 The above referenced certificates will initially be held at the following location and the representative set forth below
is the initial contact for the pledgors with respect to any questions relating to the certificates: 
  

					
		 	Address:	  	            The Bank of New York Mellon Trust
Company N.A.

		 		  	            [601 Travis St, 16th
floor]

		 		  	            [Houston, TX
77002]

					
		 	Representative:	  	 [Julie Hoffman-Ramos]

		 	Phone Number:	  	 [713-483-6563]

 The Bank of New York Mellon Trust Company N.A. 

 

			
	By:	 	 /s/ [Mauri J. Cohen]

	Name:	 	 [Mauri J. Cohen]

	Title:	 	 [Vice President]

	Date:EX-10.8

 Exhibit 10.8 
 MANAGEMENT AGREEMENT 
 between 

CC HOLDINGS GS V LLC 
 GLOBAL SIGNAL ACQUISITIONS LLC 
 GLOBAL SIGNAL ACQUISITIONS II LLC

 PINNACLE TOWERS LLC AND 
 THE OTHER ENTITIES LISTED ON THE SIGNATURE PAGES, 
 collectively, as
Owners, 
 and 
 CROWN CASTLE USA INC., 
 as Manager 

Dated as of December 24, 2012 

 TABLE OF CONTENTS 

 

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

 LIST OF SCHEDULES AND EXHIBITS 

 

			
	Schedule I	  	List of Sites
	Exhibit A	  	Form of Manager Report

  
 i 

 MANAGEMENT AGREEMENT 

THIS MANAGEMENT AGREEMENT is entered into as of December 24, 2012 (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”). This Agreement
replaces the Management Agreement, dated as of April 30, 2009, by and between each of the entities listed on the signature pages thereto under the heading “Owners” and the Manager. 

SECTION 1. Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings specified in the Indenture
(as defined below). In addition, as used in this Agreement, the following terms shall have the following meanings: 

“Administrative Services” has the meaning specified in Section 4. 

“Accounts” has the meaning specified in Section 7(a). 

“Agreement” means this Management Agreement together with all amendments hereof and supplements hereto. 

“Budget” means, with respect to any period, the Issuers’ budget setting forth the Manager’s best estimate,
after due consideration, of all consolidated operating expenses, maintenance capital expenditures and any other expenses for such period. 
 “CCL” has the meaning specified in Section 23(i). 

“Effective Date” has the meaning specified in the first paragraph of this Agreement. 

“Environmental Laws” means all present and future local, state, federal or other governmental authority, statutes,
ordinances, codes, orders, decrees, laws, rules or regulations pertaining to or imposing liability or standards of conduct concerning environmental regulation (including regulations concerning health and safety), contamination or clean-up or the
handling, generation, release or storage of Hazardous Material affecting the Properties including the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, the Resource Conservation and Recovery Act, as amended,
the Emergency Planning and Community Right-to-Know Act of 1986, as amended, the Hazardous Substances Transportation Act, as amended, the Solid Waste Disposal Act, as amended, the Clean Water Act, as amended, the Clean Air Act, as amended, the Toxic
Substances Control Act, as amended, the Safe Drinking Water Act, as amended, the Occupational Safety and Health Act, as amended, any state superlien and environmental clean-up statutes and all regulations adopted in respect of the foregoing laws
whether now or hereafter in effect, but excluding any local, state, federal, or other governmental historic preservation or similar laws relating to historical resources and historic preservation not related to (i) protection of health or the
environment or (ii) Hazardous Materials. 
 “Expiration Date” means January 31, 2013, as such date
may be extended from time to time pursuant to Section 20. 
 “FAA” means the Federal Aviation
Administration. 
 “FCC” means the Federal Communications Commission. 

“Hazardous Material” means all or any of the following: (A) substances, materials, compounds, wastes, products,
emissions and vapors that are defined or listed in, regulated by, or otherwise classified pursuant to, any applicable Environmental Laws, including any so defined, listed, regulated or classified as “hazardous substances”, “hazardous
materials”, “hazardous wastes”, “toxic substances”, “pollutants”, “contaminants”, or any other formulation intended to regulate, define, list or classify substances by reason of deleterious, harmful or
dangerous properties; (B) waste oil, oil, petroleum or petroleum derived substances, natural gas, natural gas liquids or synthetic gas and drilling fluids, produced waters and other wastes associated with the exploration, development

 
or production of crude oil, natural gas or geothermal resources; (C) any flammable substances or explosives or any radioactive materials; (D) asbestos in any form; (E) electrical
or hydraulic equipment which contains any oil or dielectric fluid containing polychlorinated biphenyls; (F) radon; (G) mold; or (H) urea formaldehyde, provided, however, such definition shall not include
(i) cleaning materials and other substances commonly used in the ordinary course of the Owners’ business, which materials exist only in reasonable quantities and are stored, contained, transported, used, released, and disposed of in
accordance with all applicable Environmental Laws, or (ii) cleaning materials and other substances commonly used in the ordinary course of the Owners’ tenant’s, or any of their respective agent’s, business, which materials exist
only in reasonable quantities and are stored, contained, transported, used, released, and disposed of in accordance with all applicable Environmental Laws. 
 “Indenture” means the Indenture, dated as of December 24, 2012, among CC Holdings GS V LLC, Crown Castle GS III Corp., the Guarantors and the Trustee. 

“Lease” means any lease, tenancy, license, assignment or other rental or occupancy agreement or other
agreement or arrangement (including any and all guarantees of any of the foregoing) heretofore or hereafter entered into affecting the use, enjoyment or occupancy of, or the conduct of any activity upon or in, the Properties or any portion thereof,
including any extensions, renewals, modifications or amendments thereof. 
 “Managed Site” means a Site subject
to a site management agreement. 
 “Management Fee” has the meaning specified in Section 10. 

“Manager” has the meaning specified in the first paragraph of this Agreement. 

“Monthly Payment Date” means, unless a different date is agreed between the Owners and the Manager, the first
(1st) day of each calendar month or, if any such first (1st) day is not a Business Day, the next succeeding Business Day, beginning on January 1, 2013. 
 “Operation Standards” means the standards for the performance of the Services set forth in Section 5. 
 “Operating Revenues” means, without duplication, all revenues of CCL and its Subsidiaries from operations or, with respect to any particular Property, all revenues of CCL and its
Subsidiaries from the operation of such Property or otherwise allocable to such Property, in each case determined in accordance with GAAP and including all revenues from the leasing, subleasing, licensing, concessions or other grant of the right of
the possession, use or occupancy of all or any portion of the Properties or personalty located thereon, or rendering of service by CCL or any of its Subsidiaries, proceeds from rental or business interruption insurance relating to business
interruption or loss of income for the period in question and any other items of revenue which would be included in operating revenues under GAAP; but excluding the impact on revenues of accounting for leases with fixed escalators as required by
SFAS 13, proceeds from abatements, reductions or refunds of real estate or personal property taxes relating to the Properties, dividends on insurance policies relating to the Properties, condemnation proceeds arising from a temporary taking of all
or a part of any Properties, security and other deposits until they are forfeited by the depositor, advance rentals until they are earned, proceeds from a sale, financing or other disposition of the Properties or any part thereof or interest therein
and other non-recurring revenues as determined by the Manager, insurance proceeds (other than proceeds from rental or business interruption insurance), other condemnation proceeds, capital contributions or loans to CCL or any of its Subsidiaries.

 “Owner Representative” has the meaning specified in Section 23(i). 

“Owners” has the meaning specified in the first paragraph of this Agreement. 

“Permitted Operations” has the meaning specified in Section 18. 

“Prime Rate” means the “prime rate” published in the “Money Rates” section of The Wall Street
Journal, as such “prime rate” may change from time to time. If The Wall Street Journal ceases to publish the “prime 

  
 2 

 
rate”, then the Trustee shall select an equivalent publication that publishes such “prime rate”; and if such “prime rate” is no longer generally published or is limited,
regulated or administered by a governmental or quasigovernmental body, then the Trustee shall select a comparable interest rate index. 
 “Properties” means, collectively or individually, the properties (including land and improvements, and all leaseholds, sub-leaseholds, fee and easements) and all related facilities, owned
by CCL and its Subsidiaries as of any date of determination. 
 “Rating Agencies” means S&P, Moody’s
and Fitch. 
 “Records” has the meaning specified in Section 12. 

“SEC” means the Securities and Exchange Commission. 

“Services” means, collectively, the Site Management Services and the Administrative Services. 

“SFAS 13” means Statement of Financial Accounting Standards No. 13 published by the Financial Accounting Standards
Board. 
 “Site Management Services” has the meaning specified in Section 3. 

“Sites” means each tower, rooftop or other telecommunication site listed on Schedule I hereto, as modified from time to
time pursuant to Section 19. 
 “Tenant” means a tenant or licensee under a Lease, including any ground
lessee under a Lease where an Owner is the ground lessor. 
 “Term” has the meaning specified in
Section 20. 
 “Transaction Documents” means the Indenture, the Pledge Agreement, this Agreement and each
other agreement contemplated by any of the foregoing. 
 “Trustee” means The Bank of New York Mellon Trust
Company, N.A.. 
 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. On the terms and conditions set forth
therein, each Owner hereby engages the Manager to perform the Services described herein. The Manager hereby accepts such engagement. The Manager is an independent contractor, and nothing in this Agreement or in the relationship between any Owner and
the Manager shall constitute a partnership, joint venture or any other similar relationship. 

  
 3 

 SECTION 3. Site Management Services. During the Term of this Agreement, the Manager
shall, subject to the terms hereof, perform those functions reasonably necessary to maintain, market, operate, manage and administer the Sites (collectively, the “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 Sites: 
 (a) Marketing/Leasing of Sites. The Manager shall use commercially reasonable efforts to market the Leases and to procure Leases with third party customers for the Sites, including locating
potential Tenants, negotiating Leases with such Tenants and executing or brokering Leases as agent for the Owners. The Manager shall have complete authority to negotiate all of the terms of each Lease, 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 Lease or amendment or modification thereof shall be on
commercially reasonable terms and in accordance with the Operation Standards. 
 (b) Site Operations. The Manager shall
monitor and manage each Owner’s property rights associated with the Sites, make periodic inspections of the Sites for needed repairs, arrange for all such repairs determined to be necessary or appropriate, and otherwise provide for the
maintenance of the Sites, including maintaining insurance on the Sites and using commercially reasonable efforts to ensure that Tenants install their equipment in accordance with the terms of the relevant Lease and that all Sites are maintained in
compliance in all material respects with any applicable FAA and FCC regulations, the terms of any applicable ground lease, easement, Lease, site management agreement or similar agreement and any other applicable laws, rules and regulations. The
Manager shall arrange for all utilities, services, equipment and supplies necessary for the management, operation, maintenance and servicing of the Sites in accordance with the terms and conditions of any applicable ground leases, easements, Leases,
site management agreements and similar 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 site management agreement, agency agreement, or other agreement related to the Sites (other than the payment of amounts due from the
Owners thereunder, which payments shall be paid out of the Accounts as provided herein). If any Owner is obligated to or otherwise undertakes any alterations or improvements to a Site, the Manager shall arrange for such alteration or improvement on
the Owner’s behalf. 
 (c) Administration of Leases. The Manager shall, on behalf of the Owners, (i) maintain a
database of the Leases indicating, for each Lease, 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 Site, the amount of all payments due to or from the counterparty
under the relevant site management agreement, (ii) use commercially reasonable efforts to collect all rent and other amounts due under the Leases, which efforts may include invoicing such rent and other amounts, (iii) perform all services
required to be performed by the Owners under the terms of the Leases, the site management agreements and similar 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 Lease, site management agreement and similar 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 Lease, site management agreement and similar agreement in accordance with the Operation Standards, including the right to exercise (or not to exercise) any right such Owner may have to collect rent and other amounts due under such
agreements (whether through judicial proceedings or otherwise), to terminate any Lease and/or to evict any Tenant. The Manager shall also have the right, in accordance with the Operation Standards, to compromise, settle, and otherwise resolve claims
and disputes with regard to Leases, site management agreements and similar 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 Lease
pertaining to the 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 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 Sites as telecommunications sites, for the management, marketing and operation of the Sites (including such
licenses required to be obtained from the FAA and the FCC) and for the preparation, filing and payment of all reports, filings, taxes and fees required to be filed with or furnished to the SEC or tax authorities. The cost of complying with this
paragraph shall be the responsibility of the Owners and will be payable out of the Accounts. 
 (e) Upon request, and at the end
of each fiscal quarter, the Manager will furnish to the Owner Representative a report (the “Manager Report”) in substantially the form attached as Exhibit B with respect to the periods specified therein. 

  
 4 

 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) 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 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; 
 (iv)
prepare and file, or cause to be prepared and filed, all annual, quarterly and current reports and other reports and filings required to be filed or furnished on behalf of each Owner with the SEC and to cause to be paid from the Accounts all fees in
connection therewith; 
 (v) administer such Owner’s performance under the Transaction Documents, including
(A) preparing and delivering on behalf of such Owner such opinions of counsel, officers’ certificates, financial statements, reports, notices, financing statements (including continuations thereof) and other documents as are required under
the Transaction Documents and (B) holding, maintaining and preserving the Transaction Documents and books and records relating to the Transaction Documents and the transactions contemplated or funded thereby, and making such books and records
available for inspection in accordance with the terms of the Transaction Documents; 
 (vi) 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 
 (vii) manage 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. 
 SECTION 5. Operation Standards. The Manager shall perform the Services with the objective of
maximizing revenue and minimizing expenses on the Sites. The 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
Sites and located in the same market areas as the Sites. The Manager hereby acknowledges that it has received a copy of each of the Transaction Documents and agrees not to take any action that would cause the Owners to be in default thereunder. The
Manager further acknowledges that, in connection with future financial reporting requirements or otherwise, the Owners may, upon notice to the Manager, impose on the Manager additional reasonable restrictions or covenants or require the Manager to
implement and follow certain other reasonable procedures or provide additional services, including with respect to Records and access to bank accounts. 

  
 5 

 SECTION 6. Authority of Manager. During the Term hereof, the parties recognize that
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, 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 Leases, ground leases,
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. Accounts. 
 (a) Accounts. Subject to Section 9(c),
the Manager shall establish and maintain one or more operating bank accounts in the name of an Owner or on behalf of one or more Owners (such account or accounts being the “Accounts”). The Owners shall maintain funds in the Accounts
sufficient to run their respective businesses at all times (including funds sufficient to pay all expenses for the next month, including any interest payment due during the next month pursuant to the Indenture). At all times during the Term of this
Agreement the Manager shall have full access to the Accounts for the purposes set forth herein, and all checks or disbursements from the Accounts will require only the signature of the Manager. Funds may be withdrawn by Manager from the Accounts
only (i) to pay expenses and make 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 Accounts exceeds the amount required to pay the Owners’ expenses and make the Owners’ necessary expenditures for the next month as the same become due and payable, to make such other distributions as the Owner Representative
may direct. The Manager may direct any institution maintaining the Accounts 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 Accounts. 
 SECTION 8. Budgets. Upon request by the Owners, on or before
February 15 of each year, the Manager shall deliver to the Owner Representative a Budget for such year (in each case presented on a monthly and annual basis). The Budget shall identify and set forth the Managers’ reasonable estimate, after
due consideration, of all expenses and expenditures on a line-item basis consistent with the form of budgets previously provided to the Owners. Each of the parties hereto acknowledges and agrees that the Budget represents an estimate only, and that
actual expenses and 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 expenses or 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 Transaction Documents, be modified or supplemented as appropriate to reflect such differences. 

SECTION 9. Expenses and Capital Expenditures. 
 (a) The Manager is hereby authorized to incur 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. If a Budget has been prepared for the applicable year, the Manager shall use commercially reasonable efforts to incur expenses and to make capital expenditures within the limits prescribed by the Budgets;
provided that the Manager may at any time incur expenses and make capital expenditures in amounts that exceed the 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. 

  
 6 

 (b) The Manager shall maintain accurate records with respect to each Site reflecting the
status of real estate and personal property taxes, ground lease payments, insurance premiums and other expenses payable in respect thereof and shall furnish to the Owner Representative from time to time such information regarding the payment status
of such items as the Owner Representative 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, insurance premiums and other expenses as the
same become due and payable out of funds available in the Accounts. All expenses and capital expenditures paid by the Manager will be funded through the Accounts and the Manager shall have no obligation to subsidize, incur, or authorize any expense
or capital expenditure that cannot, or will not be paid by or through the Accounts. If the Manager determines that the funds on deposit in the Accounts are not sufficient to pay all expenses related to the Sites as the same shall become due and
payable, the Manager shall notify the Owner Representative of the amount of such deficiency and the Owners shall deposit the amount of such deficiency therein as soon as practicable. 

(c) Notwithstanding anything to contrary herein, if at any time the Accounts have not been established or maintained, the Manager shall
use commercially reasonable efforts to establish and maintain such Accounts as promptly as practicable and, during any period in which the Accounts have not been established or maintained, shall cause all expenses and any capital expenditures to be
paid, whether out of its own funds or otherwise. In the event that the Accounts have been established and maintained and there is a deficiency in the Accounts, the Manager may, in its sole discretion, elect to pay expenses or make capital
expenditures 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 expenses paid and capital expenditures made by the Manager out of its own
funds plus interest thereon at the Prime Rate; provided that such interest may be paid only if (i) the Accounts have been established and the reimbursement relates to a deficiency in the Accounts and (ii) such interest is requested
by the Manager. 
 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 severally agree to pay to the Manager a fee (the “Management Fee”), on each Monthly Payment Date, equal to 7.5% of the Operating Revenues for the immediately
preceding calendar month. On each Monthly 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 the Management Fee so paid to it was less than what should have been paid (based on a recomputation of the Operating Revenues for such calendar month), then the Management Fee due on the
next Monthly Payment Date following the date of such determination shall be increased by the amount of the underpayment. If the Manager subsequently determines that the 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 Monthly 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 Monthly 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 expenses
and any capital expenditures, all of which are payable 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 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 

  
 7 

 
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 are therefore solely Manager’s concern and responsibility, and the Owners shall have no liability with respect thereto. 
 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 Sites and the Services as may
be necessary or appropriate under the Operation Standards. Such books and records shall include all corporate records, monthly summaries of all accounts receivable and accounts payable, maintenance records, insurance policies, receipted bills and
vouchers, and other documents and papers pertaining to the Sites (including the Leases, site management agreements and ground leases). 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 management agreements. During the Term of this Agreement, the Manager shall afford to the Owners and the Trustee (solely to the extent required pursuant to the Transaction Documents) access to any
Records relating to the 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 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. 
 (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 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 Owner Representative, the Manager shall cause to be delivered to the Owner Representative 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 10 days’ prior notice to the Owner Representative. 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 Sites. 
 (b) The Manager shall not consent to the installation, use or incorporation into the 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, other than in compliance with Environmental Laws and covenants and agrees to take reasonable steps to comply with the Environmental
Laws. 
 (c) The Manager covenants and agrees (i) that it shall advise the Owner Representative and the Trustee 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 Owner Representative 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 Sites. 

  
 8 

 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 or otherwise related to the Sites or the Services. In the case of the Owners, such cooperation shall include (i) executing such documents or performing
such acts as may be required to protect, preserve, enhance, or maintain the Sites or the Accounts, (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 Sites, (iv) furnishing to the Manager, on or prior to the Effective Date, all books, records, files, abstracts, contracts
(including Leases and site management agreements), materials and supplies, budgets and other Records relating to the 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 Trustee (solely to the extent required pursuant to the Transaction Documents), potential purchasers
of any of the Sites, appraisers, auditors and their respective agents and representatives, with the view that such parties shall be able to perform their duties efficiently and without interference. 

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. 

  
 9 

 (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 Manager’s knowledge, threatened against the Manager that, if determined adversely to the
Manager, would prohibit the 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) 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. 
 (g) 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. Restrictions on Other Activities of Manager. The Manager hereby covenants and agrees that (i) it shall not engage
in any business except as contemplated by this Agreement and other management agreements or arrangements with Affiliates of the Manager 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 Operations”) and (ii) it shall not incur any indebtedness for borrowed money or other material
liabilities except for (A) obligations hereunder and under other management agreements (including salaries and benefits of its officers and employees) and obligations incurred in the ordinary course of business in connection with its Permitted
Operations. 

  
 10 

 SECTION 19. Removal or Substitution of 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 Site to a Person other than another Owner or the Trustee (whether pursuant to a taking under the power of eminent domain or otherwise) or otherwise ceases to
have an interest in a Site, this Agreement shall terminate (as to that Site only) on the date of such assignment or transfer and the Owners shall promptly deliver to Manager an amendment to Schedule I reflecting the removal of such Site from the
scope of this Agreement. Upon the termination of this Agreement as to a particular Site, the Manager and the respective Owner of such Site shall be released and discharged from all liability hereunder with respect to such Site for the period from
and after the applicable termination date and the Manager shall have no further obligation to perform any Site Management Services with respect thereto from and after such date. In addition, the Owners may at any time add any additional Site to
Schedule I in connection with a substitution or acquisition. Upon such substitution or acquisition, the Owners shall promptly deliver to the Manager an amendment to Schedule I reflecting the addition of such Site, whereupon the Manager shall assume
responsibility for the performance of the Site Management Services hereunder with respect to such 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. Immediately prior to the then-current Expiration Date, the Expiration
Date shall be automatically extended to the date that is 30 days after the then-current Expiration Date without any action on the part of any party, unless the Owner Representative, acting in its sole and absolute discretion, delivers notice to
the contrary to the Manager prior to the then-current Expiration Date in which case the Expiration Date shall remain the then-current Expiration Date. 
 (b) Termination for Cause. The Owner Representative (or the Trustee on its behalf at the direction of the Holders of a majority in aggregate principal amount of the then outstanding Notes) shall
have the right, upon notice to the Manager, to terminate this Agreement: (i) upon the declaration and continuance of an “Event of Default” under (and as defined in) the Indenture, (ii) 30 days following notice from the Trustee to
the Owners if the Manager has engaged in fraud, gross negligence or willful misconduct arising from or in connection with its performance under this Agreement or (iii) if the Manager defaults in the performance of its obligations hereunder and
such default (A) is reasonably likely to have a Material Adverse Effect and (B) remains unremedied for 30 days after the Manager receives notice thereof. 
 (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 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 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 and the Manager shall have no further obligation to perform any Services for such Owner or any Sites owned, leased or managed by such Owner from and after such date. 

(d) Resignation By Manager. Without the prior written consent of the Owners, unless and until all Obligations due and owing under
the Indenture 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 Owner Representative. From and after the date on which all Obligations
due and owing under the Indenture have been fully satisfied, the Manager shall have the right in its sole and absolute discretion, upon 30 days’ prior notice to the Owner Representative, to resign 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). Nothing in this clause (d) shall restrict the Owners and the Manager from entering into any amendments or
supplements in respect of this Agreement. 

  
 11 

 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 Accounts and shall promptly (i) furnish to the Owner Representative or its designee all keys, key cards or access codes required in order to obtain access to
the Sites, (ii) deliver to the Owner Representative or its designee all rent, income, tenant security deposits and other monies due or belonging to the Owners under this Agreement but received after such termination, (iii) deliver to the
Owner Representative or its designee all books, files, abstracts, contracts, leases, materials and supplies, budgets and other Records relating to the 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 Sites, except any personal property which was paid for and is owned by Manager. The Manager shall also, for
a period of ninety (90) days after such expiration or termination, make itself available to consult with and advise the Owners regarding the operation and maintenance of the Sites or otherwise to facilitate an orderly transition of management
to a new manager of the Sites. This Section 21 shall survive the expiration or earlier termination of this Agreement (whether in whole or part). 
 SECTION 22. Indemnities. 
 (a) Subject to Section 23(g), 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 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) Subject to Section 23(g), 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 misfeasance, bad faith or negligence 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 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 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 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 Representative. 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. 

  
 12 

 (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
(including Owner Representative)
	  	 c/o CC Holdings GS V LLC
 1220 Augusta Drive, Suite 500
 Houston, Texas 77057

	  	Attention:	 	 Chief Financial Officer and
General Counsel

	  	Facsimile: (713) 570-3053
		
	 (2) To Manager:
	  	 Crown Castle USA Inc.
 1220 Augusta Drive, Suite 500
 Houston, Texas 77057

	  	Attention:	 	 Chief Financial Officer and
General Counsel

	  	Facsimile: (713) 570-3053

 (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 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. 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 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 by reason of misfeasance,
bad faith or negligence 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, except where such damages or loss
of profits are claimed by or awarded to a third party in a claim or action against which a party to this Agreement has a specific obligation to indemnify another party to this Agreement. 

  
 13 

 (iii) 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. 
 (iv) The provisions of this
Section 23(e) shall survive the expiration and termination of this Agreement. 
 (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) Litigation Costs. If any legal action or other proceeding of any kind is brought for the enforcement of this Agreement or
because of a default, misrepresentation, or any other dispute in connection with any provision of this Agreement or the Services, the successful or prevailing party shall be entitled to recover all fees and other costs incurred in such action or
proceeding, in addition to any other relief to which it may be entitled. 
 (h) 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 reasonable commercial 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 applicable laws and
regulations or by any subpoena or similar legal process, (ii) as requested by Rating Agencies (iii) to the extent provided in the Offering Memorandum and (iv) to actual or prospective Tenants. For the purposes of this paragraph (h),
the term “Information” shall mean the terms and provisions of this Agreement and all financial statements, certificates, reports, Records, agreements and information (including the Leases and the site management agreements) and all
analyses, compilations and studies based on any of the foregoing) that relate to the 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. 
 (i) Owners’ Representative and Agent. From time to time during the Term, the Owners shall appoint one
(1) Owner (the “Owner Representative”) to serve as the Owners’ representative and agent to act, make decisions, and grant any necessary consents or approvals hereunder, collectively, on behalf of all of the Owners. Each
Owner hereby appoints CC Holdings GS V LLC, a Delaware limited liability company (“CCL”) as the initial Owner Representative hereunder and hereby authorizes the Owner Representative to take such action as agent on its behalf and to
exercise such powers as are delegated to the Owner Representative by the terms hereof, together with such powers as are reasonably incidental thereto. 
 (j) No Petition. Prior to the date that is one year and one day after the date on which all Obligations due and owing under the Indenture 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. 
 (k) Permitted Operations. The Owners hereby
acknowledge and agree that the Manager may engage in Permitted Operations 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 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 Operation (including the operation, maintenance, leasing 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) unless the Manager determines it is against the business interests of the Owners to do
so, if the Manager arranges for a Lease of a telecommunication site with a tenant that is also a Tenant under a Lease with an Owner, such new Lease will be separate from and independent of the Lease(s) between the Tenant and such Owner, (ii) if
the Tenant with respect to a Site is an Affiliate of the Manager, the Manager shall perform all Services in respect of such Site in the same manner as if such Tenant were not an Affiliate, (iii) unless the Manager determines it is in the
business interests of the Owners to do so, the Manager will not solicit a tenant to transfer its Lease from a Site owned, leased or managed by an Owner to a telecommunications site owned, leased or managed

  
 14 

 
by a Person that is not an Owner and (iv) in all cases the Manager shall perform its duties and obligations hereunder in accordance with the Operation Standards notwithstanding any potential
conflicts of interest that may arise, including any relationship that the Manager may have with any Tenant or any other owners of telecommunication sites that it manages. 
 (l) 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. 
 (m) 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]

  
 15 

 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/ E. Blake Hawk

		 		 		 	Name:	 	E. Blake Hawk
		 		 		 	Title:	 	Executive Vice President
			
	Owners:	 		 	 CC HOLDINGS GS V LLC
 GLOBAL SIGNAL ACQUISITIONS LLC
 GLOBAL SIGNAL ACQUISITIONS II LLC

PINNACLE TOWERS LLC
 INTRACOASTAL CITY
TOWERS LLC
 TOWER SYSTEMS LLC

RADIO STATION WGLD LLC
 HIGH POINT
MANAGEMENT CO. LLC
 INTERSTATE TOWER COMMUNICATIONS LLC
 TOWER TECHNOLOGY COMPANY OF JACKSONVILLE LLC
 ICB TOWERS, LLC

PINNACLE TOWERS III LLC
 PINNACLE
TOWERS V INC.
 SHAFFER & ASSOCIATES, INC.
 SIERRA TOWERS, INC.
 AIRCOMM OF AVON, L.L.C.

COVERAGE PLUS ANTENNA SYSTEMS LLC

				
		 		 	By:	 	 /s/ W. Benjamin Moreland

		 		 		 	Name:	 	W. Benjamin Moreland
		 		 		 	Title:	 	President and Chief Executive Officer

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