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A right of first refusal clause is language inserted into to a cell tower lease that provides the lessee (the tower company or wireless carrier) the right to match other offers to. What is the true value of. Cell tower lease agreements are unlike any residential, or commercial lease agreement. This is due to the very specific use of a cell tower, also known as an unmanned. Cell towers work by transmitting radio frequency (rf) signals, which connect mobile devices like smartphones to the larger network.