Tennessee Sample Subordination, Nondisturbance and Attornment Agreement

• Category: Corporations - Public
• State: Multi-State
• Control #: US-EG-9472
• Format: Word; Rich Text

Description

Subordination, Non-Disturbance and Attornment Agreement between 233 Broadway Owners LLC, Organic and Lehman Brothers Holding, Inc. regarding assurances of possession of premises dated 00/99. 5 pages. A Tennessee Sample Subordination, Nondisturbance and Attornment Agreement (SND) is a legal document that outlines the relationship between a tenant, a landlord, and a lender in the event of a property foreclosure. This agreement is often used in commercial real estate transactions and ensures that the tenant's rights are protected even if the property is foreclosed upon. In Tennessee, there may be different types of Sample Subordination, Nondisturbance and Attornment Agreements depending on the specific circumstances of the transaction. These may include: 1. Commercial Lease SND Agreement: This agreement is used when a commercial tenant leases space in a property that is subject to a mortgage. It establishes the rights, obligations, and priorities among the tenant, landlord, and lender. 2. Subordination SND Agreement: In certain cases, a lender may require a tenant to subordinate their lease rights to the mortgage. This type of agreement ensures that the lender's interests are protected in the event of a foreclosure, and the tenant agrees to recognize the lender's rights as superior to their lease rights. 3. Nondisturbance SND Agreement: A nondisturbance agreement is typically requested by a tenant to protect their rights in case of a foreclosure. It ensures that the tenant will not be dispossessed of their premises or their lease rights if the landlord defaults on the mortgage. Essentially, it allows the tenant to continue operating their business or occupying the premises even after a foreclosure. 4. Attornment SND Agreement: An attornment agreement is an acknowledgment by the tenant that their lease rights will be recognized by the new owner or lender after a foreclosure. It ensures that the tenant agrees to attorn to the lender or new owner and continue paying rent and performing under the lease terms after the change of ownership. A Tennessee Sample Subordination, Nondisturbance and Attornment Agreement typically includes key provisions such as the identification of the tenant, landlord, and lender, the property address, the lease terms, and specific rules governing subordination, nondisturbance, and attornment. Additionally, it may include provisions about the tenant's obligations, notice requirements, insurance and indemnification, rights to cure defaults, and remedies in case of breach. In summary, a Tennessee Sample Subordination, Nondisturbance and Attornment Agreement protects the rights of tenants in the event of a property foreclosure. By establishing the relationship and priorities among the tenant, landlord, and lender, this agreement ensures continuity of the tenant's occupancy and lease rights under different ownership scenarios.

A Tennessee Sample Subordination, Nondisturbance and Attornment Agreement (SND) is a legal document that outlines the relationship between a tenant, a landlord, and a lender in the event of a property foreclosure. This agreement is often used in commercial real estate transactions and ensures that the tenant's rights are protected even if the property is foreclosed upon. In Tennessee, there may be different types of Sample Subordination, Nondisturbance and Attornment Agreements depending on the specific circumstances of the transaction. These may include: 1. Commercial Lease SND Agreement: This agreement is used when a commercial tenant leases space in a property that is subject to a mortgage. It establishes the rights, obligations, and priorities among the tenant, landlord, and lender. 2. Subordination SND Agreement: In certain cases, a lender may require a tenant to subordinate their lease rights to the mortgage. This type of agreement ensures that the lender's interests are protected in the event of a foreclosure, and the tenant agrees to recognize the lender's rights as superior to their lease rights. 3. Nondisturbance SND Agreement: A nondisturbance agreement is typically requested by a tenant to protect their rights in case of a foreclosure. It ensures that the tenant will not be dispossessed of their premises or their lease rights if the landlord defaults on the mortgage. Essentially, it allows the tenant to continue operating their business or occupying the premises even after a foreclosure. 4. Attornment SND Agreement: An attornment agreement is an acknowledgment by the tenant that their lease rights will be recognized by the new owner or lender after a foreclosure. It ensures that the tenant agrees to attorn to the lender or new owner and continue paying rent and performing under the lease terms after the change of ownership. A Tennessee Sample Subordination, Nondisturbance and Attornment Agreement typically includes key provisions such as the identification of the tenant, landlord, and lender, the property address, the lease terms, and specific rules governing subordination, nondisturbance, and attornment. Additionally, it may include provisions about the tenant's obligations, notice requirements, insurance and indemnification, rights to cure defaults, and remedies in case of breach. In summary, a Tennessee Sample Subordination, Nondisturbance and Attornment Agreement protects the rights of tenants in the event of a property foreclosure. By establishing the relationship and priorities among the tenant, landlord, and lender, this agreement ensures continuity of the tenant's occupancy and lease rights under different ownership scenarios.