Subordination and Non-Disturbance Agreements Sample Clauses

A Subordination and Non-Disturbance Agreement (SNDA) is a contractual provision that establishes the priority of rights between a tenant and a landlord’s lender in the event of foreclosure. Typically, this clause ensures that the tenant’s lease will be subordinate to the lender’s mortgage, but also provides that the tenant’s right to occupy the premises will not be disturbed if the lender takes ownership, as long as the tenant continues to fulfill lease obligations. The core function of this clause is to protect tenants from eviction due to landlord default while simultaneously safeguarding the lender’s interests, thereby balancing the rights of both parties and providing stability in commercial leasing arrangements.
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Subordination and Non-Disturbance Agreements. Borrower shall have provided Lender with subordination, non-disturbance and attornment agreements in a form satisfactory to Lender from all Tenants for which evidence of the Tenant's Lease has been recorded or for which Borrower is unable to obtain title insurance over the Lease in a form satisfactory to Lender, except for those Tenants that are agencies of the federal or any applicable state government.
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Subordination and Non-Disturbance Agreements. 33.1 Landlord agrees that this Lease shall be paramount to any mortgage or deed of trust now encumbering, or which may thereafter encumber, the Premises and paramount to any and all advances to be made thereunder and to the interest thereon and all renewals, replacements, and extensions thereof. Notwithstanding the above, however, if Landlord wishes to encumber the Premises and/or improvements covered by this Lease by way of mortgage or deed of trust or to obtain additional advances thereunder or to renew, replace, or extend the same (collectively, “Future Encumbrances”) and to subordinate this Lease thereto, Landlord shall be entitled to do so as long as the holder of the mortgage or deed of trust (“Encumbrancer”) executes and delivers to Tenant a Subordination, Non-Disturbance and Attornment Agreement (“SNDA”) in form and substance reasonably acceptable to Tenant. 33.2 Prior to the Commencement Date, Landlord shall obtain and deliver to Tenant a non-disturbance agreement in form and substance reasonably satisfactory to Tenant from the lienholder(s) (e.g. beneficiary, mortgagee, etc.) of all mortgage(s) or deed(s) of trust or similar instrument(s) encumbering the Premises, if any, which encumbrance existed on or prior to the Effective Date (“Non-Disturbance Agreement”).
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Subordination and Non-Disturbance Agreements. The Tenant agrees to subordinate the Lease to every mortgage from time to time during the term of the Lease in accordance with the terms of the Lease and the Landlord agrees to request each mortgagee, at the Tenant's sole expense and after receipt of a written request from the Tenant, to provide the mortgagee's form of non-disturbance agreement in favour of the Tenant.
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Subordination and Non-Disturbance Agreements. Borrowers shall have delivered to Administrative Agent on the Closing Date subordination and non-disturbance agreements with respect to Leases agreed to by Administrative Agent, each of which shall be in form and substance satisfactory to Administrative Agent.
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Subordination and Non-Disturbance Agreements. The failure of the Borrower to obtain Subordination and Non-Disturbance agreements from each of its landlords in the form attached hereto as Exhibit "G" or otherwise in a form reasonably satisfactory to the Agent.
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Subordination and Non-Disturbance Agreements. The Company shall have delivered to the Parent a subordination and non-disturbance agreement in form and substance reasonably satisfactory to the Parent from any lender having an interest in (i) the real property relating to the Leased Real Property and/or (ii) the Leased Real Property.
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Subordination and Non-Disturbance Agreements. Purchaser shall have obtained a subordination and non-disturbance agreement substantially in the form of Exhibit E hereto from the holder of any mortgage on any of the Company's Leased Real Property.
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Subordination and Non-Disturbance Agreements. Tenant shall execute and deliver, without charge therefor, and with the preparation of, and costs of Landlord for, such subordination documents at Landlord’s expense, such further instruments evidencing subordination of this Lease to the lien of any mortgages or deeds of trust affecting the Premises or Land as may be required by Landlord within ten (10) days following Landlord’s request therefor; provided that such mortgagee or beneficiary under such mortgage or deed of trust agrees in writing that this Lease shall not be terminated in the event of any foreclosure if Tenant is not in default under this Lease. Failure of Tenant to execute such instruments evidencing subordination of this Lease shall constitute a Default by Tenant hereunder. Landlord agrees to request of its existing lender holding a security interest in the Premises that such lender grant to Tenant non-disturbance rights so long as Tenant is not in breach or default under this Lease. Landlord makes no representation or warranty that such existing lender will grant such non-disturbance rights to Tenant and this Lease shall not be conditioned upon the existing lender granting such non-disturbance rights to Tenant.
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Subordination and Non-Disturbance Agreements. At Closing, Seller shall use (and shall cause its management company to use) its reasonable efforts to provide Buyer with a subordination and non- disturbance agreement ("SNDA") in the form of Exhibit J attached hereto with such changes (provided to Seller prior to the end of the Review Period) as may be reasonably required by Buyer's lender, executed by tenants under Leases either (i) demising not less than eighty percent (80%) of the net leasable area in the Premises; or (ii) the base rent payable under such Leases account for not less than eighty percent (80%) of the total base rents payable under all Leases. Delivery of executed SNDAs from tenants at the Premises shall not be a condition of Closing, and Buyer shall have no right to terminate this Agreement for failure to deliver SNDAs.
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Related to Subordination and Non-Disturbance Agreements

  • SUBORDINATION AND NON-DISTURBANCE At the request from time to time by one or more holders of a mortgage or deed of trust that may hereafter be placed by Lessor upon the Leased Property or any part thereof, and any and all renewals, replacements, modifications, consolidations, spreaders and extensions thereof, within thirty (30) days from the date of request, Lessee shall execute and deliver and shall have all subtenants or sublessees of the Leased Property execute and deliver, to such holders a written agreement in a form reasonably acceptable to such holder whereby Lessee and such subtenants and sublessees subordinate this Lease and all of their rights and estate hereunder to each such mortgage or deed of trust that encumbers the Leased Property or any part thereof and agree with each such holder that Lessee and such subtenants and sublessees will attorn to and recognize such holder or the purchaser at any foreclosure sale or any sale under a power of sale contained in any such mortgage or deed of trust, as the case may be, as Lessor under this Lease for the balance of the Term then remaining, subject to all of the terms and provisions of this Lease; provided, however, that each such holder simultaneously executes and delivers a written agreement (a) consenting to this Lease and agreeing that, notwithstanding any such other mortgage, deed of trust, right, title or interest, or any default, expiration, termination, foreclosure, sale, entry or other act or omission under, pursuant to or affecting any of the foregoing, Lessee and such subtenants and sublessees shall not be disturbed in peaceful enjoyment of the Leased Property or the subleased property (as applicable) nor shall this Lease (nor the applicable subleases) be terminated or canceled at any time, except in the event Lessee or such applicable subtenant or sublessee is in default under this Lease or any of the Other Leases, Lessor shall have the right to terminate this Lease or the applicable subleases under the terms and provisions expressly set forth herein; (b) agreeing that for any period while it is Lessor hereunder, it will perform, fulfill and observe all of Lessor's representations, warranties and agreements set forth herein or therein; and (c) agreeing, unless otherwise expressly provided in the mortgage or deed of trust, that all proceeds of the casualty insurance described in Article XIV of this Lease and all Awards described in Article XV will be made available for restoration of the Leased Property as and to the extent required by this Lease, subject only to reasonable regulation regarding the disbursement and application thereof.

  • SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT 24.1 This Lease and the estate, interest and rights hereby created are subordinate to any mortgage now or hereafter placed upon the Building or the Land or any estate or interest therein, including, without limitation, any mortgage on any leasehold estate, and to all renewals, modifications, consolidations, replacements and extensions of the same as well as any substitutions therefor. Tenant agrees that in the event any person, firm, corporation or other entity acquires the right to possession of the Building or the Land, including any mortgagee or holder of any estate or interest having priority over this Lease, Tenant shall, if requested by such person, firm, corporation or other entity, attorn to and become the tenant of such person, firm, corporation or other entity, upon the same terms and conditions as are set forth herein for the balance of the Lease Term. Notwithstanding the foregoing, any mortgagee may, at any time, subordinate its mortgage to this Lease, without Tenant’s consent, by notice in writing to Tenant, and thereupon this Lease shall be deemed prior to such mortgage without regard to their respective dates of execution and delivery, and in that event, such mortgagee shall have the same rights with respect to this Lease as though it had been executed prior to the execution and delivery of the mortgage. 24.2 Upon request, and within ten (10) Business Days written notice given by or on behalf of Landlord, any mortgagee, any ground or superior lessor of the Building or the Land, or other successor to the interests of Landlord thereto, Tenant shall execute and deliver, as appropriate, any instruments in recordable form as may be required by such parties, including a Subordination, Non-Disturbance and Attornment Agreement substantially similar to the form attached hereto as Exhibit “H”, in order to confirm or effect the subordination or priority of this Lease, as the case may be, and the attornment of Tenant to future landlords in accordance with the terms of Section 24 and such parties’ requirements. Tenant’s failure to execute and deliver the Subordination, Non-Disturbance and Attornment Agreement within ten (10) Business Days notice shall (i) constitute an Event of Default and (ii) serve to irrevocably appoint Landlord as Tenant’s attorney-in-fact to execute and deliver such agreement for and on behalf of Tenant. 24.3 In addition, and within ten (10) Business Days written notice given by or on behalf of Landlord, Tenant will from time to time enter into such amendments of this Lease as may be reasonably required by a lender to Landlord.

  • Non-Disturbance Agreement Notwithstanding the provisions of subsections (a) and (b), neither this Lease nor any right, title or interest of Tenant in the Leased Premises shall be subordinate to the lien of any ground or underlying lease or any Mortgage made or placed after the date of this Lease, and Tenant shall not be required to subordinate this Lease or Tenant's interest in the Leased Premises to any such ground or underlying lease or any such Mortgage, unless such lease or Mortgage contains an express provision (or the lessor or the Mortgagee or other party secured by the Mortgage agrees in writing) to the effect that so long as this Lease has not been terminated by reason of the occurrence of an Event of Default, the lessor or the Mortgagee (or other party secured by the Mortgage) will be bound by all of the terms and provisions of this Lease (except as otherwise set forth in such agreement), a default by the Landlord under such lease or by the mortgagor under such Mortgage shall not have any effect upon Tenant's right to occupy the Leased Premises in accordance with all of the terms and conditions of this Lease, and the term, estate and options of Tenant under this Lease shall not be terminated or otherwise affected by a termination of such ground or underlying lease or a foreclosure and sale or other action instituted under or in connection with such Mortgage. Contemporaneously with the execution of this Lease, Landlord shall deliver to Tenant a non-disturbance agreement, in form reasonably satisfactory to Tenant, from the Mortgagee under any existing Mortgage, to the effect that so long as this Lease has not been terminated by reason of the occurrence of an Event of Default, the Mortgagee (or other party secured by the Mortgage) will be bound by all of the terms and provisions of this Lease, a default by the mortgagor under such Mortgage shall not have any effect upon Tenant's right to occupy the Leased Premises in accordance with all of the terms and conditions of this Lease, and the term, estate and options of Tenant under this Lease shall not be terminated or otherwise affected by a foreclosure and sale or other action instituted under or in connection with such Mortgage. Contemporaneously with the execution of this Agreement, Landlord shall deliver to Tenant a non-disturbance agreement, in form reasonably satisfactory to Tenant, from the lessor under the Ground Lease, to the effect that so long as this Lease has not been terminated by reason of the occurrence of an Event of Default, the lessor will be bound by all of the terms and provisions of this Lease, a default by the Landlord under such Ground Lease shall not have any effect upon Tenant's right to occupy the Leased Premises in accordance with all of the terms and conditions of this Lease, and the term, estate and options of Tenant under this Lease shall not be terminated or otherwise affected by a termination of such Ground Lease.

  • Subordination, Non-Disturbance and Attornment In the event that Landlord places any Facility Mortgage on the Leased Property, Tenant agrees to promptly enter into, execute and deliver to the requesting party a commercially reasonable subordination, non-disturbance and attornment agreement with any such Facility Mortgagee, which shall acknowledge that this Lease, Tenant's interest hereunder and Tenant's leasehold interest in and to the Leased Property are junior, inferior, subordinate and subject in right, title, interest, lien, encumbrance, priority and all other respects to the lien of any Facility Mortgage or Mortgages now or hereafter in force and effect upon or encumbering Landlord's interest in the Leased Property, or any portion thereof, and to all collateral assignments by Landlord to any third party or parties of any of Landlord's rights under this Lease or the rents, issues and profits thereof or therefrom as security for any liability or indebtedness, direct, indirect or contingent, of Landlord to such third party or parties, and to all future modifications, extensions, renewals, consolidations and replacements of, and all amendments and supplements to any such mortgage, mortgages or assignments; provided such lender agrees not to disturb Tenant's occupancy of the Leased Property or its rights under this Lease as long as there is no existing and continuing Event of Default. If, within fifteen (15) days following Tenant's receipt of a written request by Landlord or the holder or proposed holder of any such Facility Mortgage, Tenant shall fail or refuse or shall have not executed any such subordination, non-disturbance and attornment agreement, Tenant shall be in breach and default of its obligation to do so and of this Lease and Landlord shall be entitled thereupon to exercise any and all remedies available to Landlord pursuant to this Lease or otherwise provided by law.

  • Subordination Attornment Non Disturbance This Lease shall be subject and subordinate to any mortgage, deed of trust or other security devise now or hereafter placed by Lessor upon the real property of which the Premises are a part and to all renewals, modification, consolidations, replacements and extensions thereof ("Security Devises"), provided that Lessee obtains from the holder and beneficiary of any such Security Devise a Non-Disturbance Agreement in form and substance reasonably satisfactory to Lessee. Upon Lessor's written request, Lessee shall within five (5) days, execute, acknowledge and deliver to Lessor a written statement certifying that the Lease is unmodified (or if modified, describing same) and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessor. Said statement may be relied upon by Lessor, its agents, lenders and purchasers. Upon Lessee's written request, Lessor shall within five (5) days, execute, acknowledge and deliver to Lessee a written statement certifying that the Lease is unmodified (or if modified, describing same) and in full force and effect, the date to which rents are paid and setting forth any alleged defaults of Lessee. Said statement may be relied upon by Lessee, its agents, lenders and purchasers. Subject to Lessee's receipt of a Non-Disturbance Agreement, Lessee agrees to attorn to Lender or any other party who acquires ownership of the Premises by reason of a foreclosure of a Security Device, and that in the event of such foreclosure, such new owner shall not be liable for any act of omission of any prior lessor or with respect to events occurring prior to acquisition of ownership, or be subject to any offsets or defenses which Lessee might have against any prior lessor.