This office lease form shall be subject and subordinate to all present and future ground leases, overriding leases or underlying leases and/or grants of term of the Land and/or the building or the portion thereof in which the Demised Premises are located. This Section shall be self-operative and no further instrument of subordination shall be required. This form also states that the landlord and the tenant agree to share equally all costs incurred in connection with obtaining any Non-disturbance Agreement from the existing superior lessors or superior mortgagees.
New York Nondisturbance Provision — Tenant Friendly: A Nondisturbance Provision is a contractual agreement that aims to protect the tenancy rights of tenants in the event of a change in ownership or a foreclosure of a property. In New York, the state recognizes the importance of tenant protection and has specific provisions in place to ensure their rights are safeguarded. These provisions are often considered "tenant-friendly" as they prioritize the rights and interests of tenants. There are various types of New York Nondisturbance Provisions that offer different levels of protection for tenants. Some of them include: 1. Statutory Nondisturbance Provision: This is a provision mandated by New York State law that protects tenants from eviction or lease termination in the event of foreclosure. It ensures that tenants can remain in their rented property despite any change in ownership. 2. Leasehold Nondisturbance Provision: This provision is typically included in a tenant's lease agreement and offers additional protection by stipulating that, in the event of a foreclosure or change in ownership, the new property owner agrees to honor the terms and conditions of the existing lease agreement. This provision prevents the new owner from evicting the tenant or altering the lease terms. 3. Lender Nondisturbance Provision: Lenders who possess a mortgage on a property are also involved in the Nondisturbance Provision. Lenders provide a document to the tenant, assuring that in case of foreclosure, the tenant's rights will not be disturbed, and the lender will recognize the tenant's lease agreement. 4. Subordination Nondisturbance Provision: This provision is commonly used in situations where a commercial property is subject to a mortgage. It ensures that the tenant's lease agreement is subordinate to the mortgage lien, meaning that the tenant acknowledges the mortgage lender's superior right to the property, but their lease rights will remain protected despite any foreclosure. In summary, New York Nondisturbance Provisions — Tenant Friendly, are legal provisions designed to protect tenants' rights in situations involving foreclosure or a change in property ownership. They ensure that tenants can continue to occupy the property under the terms of their lease agreements, offering stability and security. These provisions vary in their nature and scope, but their purpose remains to prioritize tenant protection and prevent unjust eviction or lease termination.
