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.
Mississippi Nondisturbance and Attornment Agreement with Landlord refers to a legal document that aims to protect the rights and interests of a tenant when a property undergoes a change in ownership or foreclosure. This agreement ensures that the tenant's lease will be upheld and recognized by any new owner or mortgage lender. In Mississippi, there are various types of Nondisturbance and Attornment Agreements that a tenant can enter into with their landlord. These agreements may vary based on the specific circumstances or terms negotiated between the parties involved. Some common types include: 1. Standard Mississippi Nondisturbance Agreement: This agreement assures the tenant that their lease will not be disrupted and will remain in full effect even if the property undergoes a change in ownership. It typically requires the new owner or mortgage lender to recognize the existing lease and provides assurance to the tenant that they can continue occupying and operating their business without interference. 2. Mississippi Nondisturbance and Attornment Agreement in Case of Foreclosure: This type of agreement specifically applies when the property is subject to foreclosure. It provides the tenant with protection in case the landlord defaults on their mortgage, preventing the tenant from being evicted or having their lease terminated due to the foreclosure. The agreement requires the new owner or lender to honor the existing lease and maintain the tenant's rights. 3. Subordination, Non-Disturbance, and Attornment Agreement (SODA): An SODA is a comprehensive agreement that combines subordination (tenant's lease being subordinate to the lender's mortgage), non-disturbance (tenant's lease remains valid despite change in ownership), and attornment (tenant recognizes new owner as their landlord) clauses. This agreement is commonly used in commercial real estate transactions where lenders require additional protection. The purpose of these agreements is to provide stability and security for tenants. They ensure that tenants are not unfairly displaced during changes in property ownership, the foreclosure process, or other relevant circumstances. By having a Mississippi Nondisturbance and Attornment Agreement in place, tenants can continue their operations without disruption or fear of losing their lease rights. It is crucial for both tenants and landlords to understand and negotiate these agreements thoroughly to protect their respective interests.Mississippi Nondisturbance and Attornment Agreement with Landlord refers to a legal document that aims to protect the rights and interests of a tenant when a property undergoes a change in ownership or foreclosure. This agreement ensures that the tenant's lease will be upheld and recognized by any new owner or mortgage lender. In Mississippi, there are various types of Nondisturbance and Attornment Agreements that a tenant can enter into with their landlord. These agreements may vary based on the specific circumstances or terms negotiated between the parties involved. Some common types include: 1. Standard Mississippi Nondisturbance Agreement: This agreement assures the tenant that their lease will not be disrupted and will remain in full effect even if the property undergoes a change in ownership. It typically requires the new owner or mortgage lender to recognize the existing lease and provides assurance to the tenant that they can continue occupying and operating their business without interference. 2. Mississippi Nondisturbance and Attornment Agreement in Case of Foreclosure: This type of agreement specifically applies when the property is subject to foreclosure. It provides the tenant with protection in case the landlord defaults on their mortgage, preventing the tenant from being evicted or having their lease terminated due to the foreclosure. The agreement requires the new owner or lender to honor the existing lease and maintain the tenant's rights. 3. Subordination, Non-Disturbance, and Attornment Agreement (SODA): An SODA is a comprehensive agreement that combines subordination (tenant's lease being subordinate to the lender's mortgage), non-disturbance (tenant's lease remains valid despite change in ownership), and attornment (tenant recognizes new owner as their landlord) clauses. This agreement is commonly used in commercial real estate transactions where lenders require additional protection. The purpose of these agreements is to provide stability and security for tenants. They ensure that tenants are not unfairly displaced during changes in property ownership, the foreclosure process, or other relevant circumstances. By having a Mississippi Nondisturbance and Attornment Agreement in place, tenants can continue their operations without disruption or fear of losing their lease rights. It is crucial for both tenants and landlords to understand and negotiate these agreements thoroughly to protect their respective interests.
