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 Pennsylvania Nondisturbance and Attornment Agreement with a landlord is a legal document that provides protection to tenants in the event of a foreclosure or sale of the property they are leasing. This agreement ensures that their lease rights will be respected and acknowledged by the new owner or lender. The purpose of a Nondisturbance and Attornment Agreement is to grant the tenant the right to continue occupying the leased premises following a change in ownership or foreclosure, without any disturbance from the new landlord or lender. It assures the tenant that their lease agreement will remain valid and enforceable under the new circumstances. In Pennsylvania, there are two main types of Nondisturbance and Attornment Agreements that tenants and landlords may encounter: 1. Tenant Nondisturbance Agreement: This type of agreement is typically entered into between the tenant and the landlord's lender. It ensures that if the landlord defaults on their mortgage, the tenant's lease will not be disturbed, and the tenant will be allowed to remain on the premises until the end of the lease term or as agreed upon. 2. Landlord Nondisturbance Agreement: This agreement is often executed between the tenant and the landlord's new owner. It guarantees that if the property is sold or transferred, the new owner will recognize and honor the tenant's lease agreement, providing them with the same rights and obligations as they had with the previous landlord. Keywords: Pennsylvania, Nondisturbance and Attornment Agreement, landlord, tenant, foreclosure, sale of property, lease rights, new owner, lender, legal document, protection, lease agreement, change in ownership, tenant nondisturbance agreement, landlord nondisturbance agreement.
