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.
Michigan Nondisturbance and Attornment Agreement with Landlord is a legal document that establishes the rights and protections of a tenant in the event of a landlord's foreclosure on the property they are leasing. This agreement provides assurance to the tenant that they can continue their occupancy undisturbed by any future changes in ownership or possession of the property. In Michigan, there are two common types of Nondisturbance and Attornment Agreements: 1. Tenant Nondisturbance Agreement: This agreement is typically entered into between the tenant and the landlord's lender or purchaser during a foreclosure or sale process. It ensures that the tenant's lease will remain in effect, and they will not face eviction or disruption due to the change in ownership. The tenant's rights, obligations, and privileges under the lease, including access to common areas and amenities, will be honored and respected by the new landlord. 2. Subordination, Non-Disturbance, and Attornment Agreement (SODA): This type of agreement is commonly used in commercial real estate transactions. It involves three parties: the landlord, the lender, and the tenant. The tenant agrees to subordinate their lease agreement to the lender's mortgage or other financial interests in the property. In return, the lender provides a non-disturbance clause guaranteeing that the tenant's occupancy rights will not be affected in case of default, foreclosure, or other changes in ownership. Attornment refers to the tenant's agreement to recognize the lender or new owner as their landlord. Keywords: Michigan, Nondisturbance and Attornment Agreement, Landlord, tenant, foreclosure, lease, occupancy, ownership, possession, lender, purchaser, eviction, change in ownership, rights, obligations, privileges, access, common areas, amenities, subordination, SODA, commercial real estate, subordination, non-disturbance clause, default, recognition.Michigan Nondisturbance and Attornment Agreement with Landlord is a legal document that establishes the rights and protections of a tenant in the event of a landlord's foreclosure on the property they are leasing. This agreement provides assurance to the tenant that they can continue their occupancy undisturbed by any future changes in ownership or possession of the property. In Michigan, there are two common types of Nondisturbance and Attornment Agreements: 1. Tenant Nondisturbance Agreement: This agreement is typically entered into between the tenant and the landlord's lender or purchaser during a foreclosure or sale process. It ensures that the tenant's lease will remain in effect, and they will not face eviction or disruption due to the change in ownership. The tenant's rights, obligations, and privileges under the lease, including access to common areas and amenities, will be honored and respected by the new landlord. 2. Subordination, Non-Disturbance, and Attornment Agreement (SODA): This type of agreement is commonly used in commercial real estate transactions. It involves three parties: the landlord, the lender, and the tenant. The tenant agrees to subordinate their lease agreement to the lender's mortgage or other financial interests in the property. In return, the lender provides a non-disturbance clause guaranteeing that the tenant's occupancy rights will not be affected in case of default, foreclosure, or other changes in ownership. Attornment refers to the tenant's agreement to recognize the lender or new owner as their landlord. Keywords: Michigan, Nondisturbance and Attornment Agreement, Landlord, tenant, foreclosure, lease, occupancy, ownership, possession, lender, purchaser, eviction, change in ownership, rights, obligations, privileges, access, common areas, amenities, subordination, SODA, commercial real estate, subordination, non-disturbance clause, default, recognition.
