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.
A Delaware Nondisturbance and Attornment Agreement With Landlord, also known as an SN DAA, is a legal document that protects tenant rights in the event of a landlord's foreclosure on the property. This agreement is commonly required by lenders when a property is being financed or refinanced. In a Delaware SN DAA, the tenant agrees to recognize and attorn to the new owner or lender in case of foreclosure, ensuring the continuity of the lease despite the change in ownership. This means that even if the property is transferred to a new landlord through foreclosure, the tenant's lease remains valid and enforceable. The agreement also includes a non-disturbance clause, which guarantees that the tenant's rights and possession of the premises will not be disturbed by the lender or new owner, as long as the tenant complies with the terms of the lease. This provides assurance to the tenant that their occupancy will be unaffected by any foreclosure proceedings. There are various types of Delaware Nondisturbance and Attornment Agreement With Landlord, including: 1. Commercial SN DAA: This type of agreement is commonly used in commercial leases. It protects the rights of commercial tenants and ensures the continuity of their business operations in case of a foreclosure. 2. Residential SN DAA: Residential leases can also include an SN DAA, providing protection to tenants in residential properties in the event of a foreclosure. This allows tenants to remain in their homes, even under new ownership. 3. Mortgagee SN DAA: This agreement is specifically tailored for situations where the property is being financed or refinanced. It is between the lender and the tenant, ensuring that the tenant's rights are preserved despite any changes in ownership. 4. Subordination SN DAA: In some cases, an SN DAA may be combined with a subordination agreement. This agreement subordinates the tenant's rights to the lender's rights, ensuring that the lender's interests take precedence in case of foreclosure. Overall, a Delaware Nondisturbance and Attornment Agreement With Landlord is a crucial legal tool that protects tenant rights during foreclosure. It offers peace of mind to tenants, allowing them to continue occupying the property and fulfilling their lease obligations, even under new ownership.A Delaware Nondisturbance and Attornment Agreement With Landlord, also known as an SN DAA, is a legal document that protects tenant rights in the event of a landlord's foreclosure on the property. This agreement is commonly required by lenders when a property is being financed or refinanced. In a Delaware SN DAA, the tenant agrees to recognize and attorn to the new owner or lender in case of foreclosure, ensuring the continuity of the lease despite the change in ownership. This means that even if the property is transferred to a new landlord through foreclosure, the tenant's lease remains valid and enforceable. The agreement also includes a non-disturbance clause, which guarantees that the tenant's rights and possession of the premises will not be disturbed by the lender or new owner, as long as the tenant complies with the terms of the lease. This provides assurance to the tenant that their occupancy will be unaffected by any foreclosure proceedings. There are various types of Delaware Nondisturbance and Attornment Agreement With Landlord, including: 1. Commercial SN DAA: This type of agreement is commonly used in commercial leases. It protects the rights of commercial tenants and ensures the continuity of their business operations in case of a foreclosure. 2. Residential SN DAA: Residential leases can also include an SN DAA, providing protection to tenants in residential properties in the event of a foreclosure. This allows tenants to remain in their homes, even under new ownership. 3. Mortgagee SN DAA: This agreement is specifically tailored for situations where the property is being financed or refinanced. It is between the lender and the tenant, ensuring that the tenant's rights are preserved despite any changes in ownership. 4. Subordination SN DAA: In some cases, an SN DAA may be combined with a subordination agreement. This agreement subordinates the tenant's rights to the lender's rights, ensuring that the lender's interests take precedence in case of foreclosure. Overall, a Delaware Nondisturbance and Attornment Agreement With Landlord is a crucial legal tool that protects tenant rights during foreclosure. It offers peace of mind to tenants, allowing them to continue occupying the property and fulfilling their lease obligations, even under new ownership.
