This office lease form states that the landlord has entered into a certain agreement of lease with the tenant as sublessor. The tenant, as sublessor, has entered into a certain sublease agreement with the sublessee. In the event of termination of the lease, the sublessee agrees to attorn to and accept the landlord as its direct landlord under the lease for the balance then remaining of the term of the Lease, and the sublessee shall assume all of the terms and conditions of the Lease, except that sublessee shall have no liability for any defaults of Tenant prior to the date of attornment.
An Arkansas Nondisturbance and Attornment Agreement with Landlord is a legally binding contract that protects tenants in the event of a foreclosure or sale of the property they lease. This agreement ensures that the tenant's rights and lease terms will be recognized and honored by the new owner or the foreclosing lender. One type of Arkansas Nondisturbance and Attornment Agreement is the "Standard Nondisturbance and Attornment Agreement". This agreement is typically utilized when a tenant is leasing a commercial property, such as an office building or retail space. It outlines the rights and obligations of the tenant, the landlord, and any potential third-party that may acquire the property. Another type of Arkansas Nondisturbance and Attornment Agreement is the "Residential Nondisturbance and Attornment Agreement". This agreement is commonly used by residential tenants who lease a house, apartment, or other residential property. It offers similar protections as the commercial version but is tailored to address the specific needs and concerns of residential tenants. In an Arkansas Nondisturbance and Attornment Agreement with Landlord, there are several important sections that are included: 1. Identification of Parties: The agreement will clearly state the names of the landlord, tenant, and any other relevant parties involved in the lease. This section may also include the address and description of the leased property. 2. Nondisturbance Clause: This clause ensures that the tenant's rights and lease agreement will not be disturbed or terminated in the event of a foreclosure or sale of the property. It guarantees the tenant's right to remain in the premises and continue their tenancy under the same terms and conditions. 3. Attornment Clause: The attornment clause requires the tenant to recognize and acknowledge the new owner or lender as their landlord, and agree to abide by the terms of the lease with the new party. This clause is important for maintaining a smooth transition of ownership or control. 4. Subordination Clause: This clause establishes the priority of the lease agreement in relation to any existing or future mortgages or liens on the property. It ensures that the lease takes precedence over any financial encumbrances. 5. Notice and Consent: This section outlines the process for providing notice to the tenant in case of a foreclosure or sale, as well as obtaining the tenant's consent for any changes or modifications to the lease. Overall, an Arkansas Nondisturbance and Attornment Agreement with Landlord offers essential protection to tenants to guarantee the continuity of their lease rights and obligations, even in the face of property ownership changes. It provides peace of mind for both commercial and residential tenants, ensuring their lease remains valid and intact regardless of any unforeseen circumstances.
