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

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

Description

Negociación y Redacción de Arrendamientos de Oficinas Travis Texas Attornment Provision in a Sublease: A Comprehensive Explanation In the realm of commercial real estate leasing, subleasing is a common practice that allows tenants to lease out a portion or the entirety of their leased space to another party, known as the sublessee. However, to ensure a smooth subleasing process, it is crucial to include certain provisions in the sublease agreement. One such provision is the Travis Texas Attornment Provision. The Travis Texas Attornment Provision is a legal clause that establishes the sublessee's acknowledgment and agreement to attorn to the landlord in the event of a lease default. Attornment refers to the act of acknowledging a new landlord or owner's authority upon the transfer of ownership or control of the property. This provision ensures that the sublessee recognizes the landlord as the new owner, accepts their rights and obligations, and continues to uphold the lease agreement. The Travis Texas Attornment Provision in a sublease typically includes details outlining the sublessee's obligations in case of attornment. This provision may require the sublessee to: 1. Acknowledge and accept the landlord as the new owner, acknowledging their rights and responsibilities as outlined in the primary lease agreement. 2. Continue paying rent directly to the landlord in the event of a lease default by the sublessor. 3. Comply with all lease terms, rules, and regulations specified by the landlord. 4. Consent to any modifications or amendments made by the landlord to the primary lease agreement. 5. Waive any defenses or claims they may have against the landlord in case of lease default or transfer of ownership. It is important to note that there may be different types of Travis Texas Attornment Provisions found in subleases based on the specific circumstances and requirements of the parties involved. Some common variations include: 1. Conditional Attornment Provision: This type of provision requires the sublessee's attornment to be contingent upon the landlord fulfilling certain conditions, such as notifying the sublessee in writing or providing proof of ownership transfer. 2. Subordination Attornment Provision: This provision states that the sublessee agrees to subordinate its interest in the subleased premises to any future mortgages or liens that the landlord may take out on the property. 3. Non-Disturbance Attornment Provision: This provision aims to protect the sublessee in case of a default by the sublessor or a transfer of ownership by ensuring that the sublessee's rights under the sublease will not be affected. In conclusion, the Travis Texas Attornment Provision in a sublease is a vital component that establishes the sublessee's recognition and acceptance of the landlord's authority in the event of a lease default. By including this provision, all parties involved can ensure a smooth transition and uphold the rights and obligations outlined in the primary lease agreement.

Travis Texas Attornment Provision in a Sublease: A Comprehensive Explanation In the realm of commercial real estate leasing, subleasing is a common practice that allows tenants to lease out a portion or the entirety of their leased space to another party, known as the sublessee. However, to ensure a smooth subleasing process, it is crucial to include certain provisions in the sublease agreement. One such provision is the Travis Texas Attornment Provision. The Travis Texas Attornment Provision is a legal clause that establishes the sublessee's acknowledgment and agreement to attorn to the landlord in the event of a lease default. Attornment refers to the act of acknowledging a new landlord or owner's authority upon the transfer of ownership or control of the property. This provision ensures that the sublessee recognizes the landlord as the new owner, accepts their rights and obligations, and continues to uphold the lease agreement. The Travis Texas Attornment Provision in a sublease typically includes details outlining the sublessee's obligations in case of attornment. This provision may require the sublessee to: 1. Acknowledge and accept the landlord as the new owner, acknowledging their rights and responsibilities as outlined in the primary lease agreement. 2. Continue paying rent directly to the landlord in the event of a lease default by the sublessor. 3. Comply with all lease terms, rules, and regulations specified by the landlord. 4. Consent to any modifications or amendments made by the landlord to the primary lease agreement. 5. Waive any defenses or claims they may have against the landlord in case of lease default or transfer of ownership. It is important to note that there may be different types of Travis Texas Attornment Provisions found in subleases based on the specific circumstances and requirements of the parties involved. Some common variations include: 1. Conditional Attornment Provision: This type of provision requires the sublessee's attornment to be contingent upon the landlord fulfilling certain conditions, such as notifying the sublessee in writing or providing proof of ownership transfer. 2. Subordination Attornment Provision: This provision states that the sublessee agrees to subordinate its interest in the subleased premises to any future mortgages or liens that the landlord may take out on the property. 3. Non-Disturbance Attornment Provision: This provision aims to protect the sublessee in case of a default by the sublessor or a transfer of ownership by ensuring that the sublessee's rights under the sublease will not be affected. In conclusion, the Travis Texas Attornment Provision in a sublease is a vital component that establishes the sublessee's recognition and acceptance of the landlord's authority in the event of a lease default. By including this provision, all parties involved can ensure a smooth transition and uphold the rights and obligations outlined in the primary lease agreement.

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.