Arizona Disposición de pago en un subarrendamiento - Attornment Provision in a Sublease

• Category: Propietario Inquilino - Arrendamientos comerciales - Alaska
• State: Multi-State
• Control #: US-OL2004
• Format: Word

Description

Negociación y Redacción de Arrendamientos de Oficinas Arizona Attornment Provision in a Sublease: A Detailed Description In the realm of commercial real estate leasing, subleasing is a common practice that allows a tenant to lease a portion or the entire leased premises to another party known as the subtenant. To ensure proper legal enforcement in such agreements, a sublease typically contains various provisions addressing different aspects of the relationship between the sublandlord (original tenant) and the subtenant. One key provision found in subleases is the Arizona Attornment Provision. The Arizona Attornment Provision is a clause that outlines the agreement between the sublandlord and subtenant in regard to the subtenant's obligation to recognize and attorn to the primary landlord should a situation arise that requires their direct relationship. This provision is crucial in situations where the primary lease between the landlord and sublandlord is terminated, and the primary landlord wishes the subtenant to continue the lease or negotiate new terms directly with them. There are several types of Arizona Attornment Provisions that can be included in a sublease agreement, depending on the parties involved and the specific circumstances. Some common variations include: 1. Standard Attornment Provision: This type of provision requires the subtenant to recognize the primary landlord as the new landlord in the event of lease termination or foreclosure. The subtenant agrees to attorn to the primary landlord, accepting them as their direct landlord, and agrees to be bound by the terms of the primary lease to the extent applicable. 2. Non-Disturbance Attornment Provision: This provision provides protection for the subtenant in case of lease termination or foreclosure. It states that, if the primary lease is terminated or the property is foreclosed upon, the subtenant's rights to possess the premises will remain unaffected as long as the subtenant complies with the terms of the sublease. 3. Attornment Waiver Provision: In some cases, the sublandlord and subtenant may agree to waive the requirement of attornment entirely. This provision relieves the subtenant from the obligation to recognize the primary landlord as their direct landlord and negotiate new lease terms directly with them. Instead, the subtenant solely deals with the sublandlord, maintaining their existing lease terms and conditions. Including an Arizona Attornment Provision in a sublease provides clarity and protection for both the sublandlord and subtenant if circumstances change during the course of the sublease. It ensures a smooth transition and potential negotiation of new lease terms if necessary while clarifying the parties' roles and responsibilities. Key relevant keywords: Arizona Attornment Provision, sublease, subtenant, sublandlord, commercial real estate, primary lease, foreclosure, termination, negotiate, non-disturbance attornment provision, attornment waiver provision, recognition, direct landlord, lease terms and conditions.

Arizona Attornment Provision in a Sublease: A Detailed Description In the realm of commercial real estate leasing, subleasing is a common practice that allows a tenant to lease a portion or the entire leased premises to another party known as the subtenant. To ensure proper legal enforcement in such agreements, a sublease typically contains various provisions addressing different aspects of the relationship between the sublandlord (original tenant) and the subtenant. One key provision found in subleases is the Arizona Attornment Provision. The Arizona Attornment Provision is a clause that outlines the agreement between the sublandlord and subtenant in regard to the subtenant's obligation to recognize and attorn to the primary landlord should a situation arise that requires their direct relationship. This provision is crucial in situations where the primary lease between the landlord and sublandlord is terminated, and the primary landlord wishes the subtenant to continue the lease or negotiate new terms directly with them. There are several types of Arizona Attornment Provisions that can be included in a sublease agreement, depending on the parties involved and the specific circumstances. Some common variations include: 1. Standard Attornment Provision: This type of provision requires the subtenant to recognize the primary landlord as the new landlord in the event of lease termination or foreclosure. The subtenant agrees to attorn to the primary landlord, accepting them as their direct landlord, and agrees to be bound by the terms of the primary lease to the extent applicable. 2. Non-Disturbance Attornment Provision: This provision provides protection for the subtenant in case of lease termination or foreclosure. It states that, if the primary lease is terminated or the property is foreclosed upon, the subtenant's rights to possess the premises will remain unaffected as long as the subtenant complies with the terms of the sublease. 3. Attornment Waiver Provision: In some cases, the sublandlord and subtenant may agree to waive the requirement of attornment entirely. This provision relieves the subtenant from the obligation to recognize the primary landlord as their direct landlord and negotiate new lease terms directly with them. Instead, the subtenant solely deals with the sublandlord, maintaining their existing lease terms and conditions. Including an Arizona Attornment Provision in a sublease provides clarity and protection for both the sublandlord and subtenant if circumstances change during the course of the sublease. It ensures a smooth transition and potential negotiation of new lease terms if necessary while clarifying the parties' roles and responsibilities. Key relevant keywords: Arizona Attornment Provision, sublease, subtenant, sublandlord, commercial real estate, primary lease, foreclosure, termination, negotiate, non-disturbance attornment provision, attornment waiver provision, recognition, direct landlord, lease terms and conditions.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.