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.
The Virgin Islands Nondisturbance Provision is a legal clause designed to protect tenants in the Virgin Islands in case of a property foreclosure or sale. This provision ensures that tenants can continue to occupy their leased premises without any interruption, regardless of the change in ownership or any actions taken by the new landlord. The Virgin Islands Nondisturbance Provision — Tenant Friendly serves as a valuable shield for tenants, safeguarding their rights and eliminating the risk of eviction or displacement due to unforeseen circumstances. This provision offers tenants a sense of security and stability, allowing them to continue their business operations or residential living without disruption. There are different types of the Virgin Islands Nondisturbance Provisions that provide unique benefits and protections to tenants. These may include: 1. Automatic Nondisturbance Provision: This type of provision is typically included in lease agreements from the beginning, offering immediate protection to tenants in the event of a foreclosure or change in ownership. It guarantees the tenant's right to remain in their space and maintain the terms and conditions of their lease. 2. Negotiated Nondisturbance Provision: In some cases, tenants may negotiate a specific nondisturbance provision with their landlords during lease renewal or lease drafting. This provision can be customized to fit the tenant's particular needs, ensuring maximum protection and security. 3. Subordination and Nondisturbance Provision: This provision combines both subordination and nondisturbance clauses. It specifies that, in case of a foreclosure, the tenant's lease will be subordinate to the new owner's mortgage but also guarantees that the tenant's rights remain undisturbed. 4. Extended Nondisturbance Provision: This type of provision extends beyond foreclosure scenarios and includes protection against other forms of termination or interruption, such as eminent domain or lease termination due to property renovation or redevelopment. In summary, the Virgin Islands Nondisturbance Provision — Tenant Friendly is an essential legal safeguard for tenants in the Virgin Islands. Its various types ensure that tenant rights are protected in case of a change in property ownership, offering stability, and allowing for uninterrupted business operations or residential living.The Virgin Islands Nondisturbance Provision is a legal clause designed to protect tenants in the Virgin Islands in case of a property foreclosure or sale. This provision ensures that tenants can continue to occupy their leased premises without any interruption, regardless of the change in ownership or any actions taken by the new landlord. The Virgin Islands Nondisturbance Provision — Tenant Friendly serves as a valuable shield for tenants, safeguarding their rights and eliminating the risk of eviction or displacement due to unforeseen circumstances. This provision offers tenants a sense of security and stability, allowing them to continue their business operations or residential living without disruption. There are different types of the Virgin Islands Nondisturbance Provisions that provide unique benefits and protections to tenants. These may include: 1. Automatic Nondisturbance Provision: This type of provision is typically included in lease agreements from the beginning, offering immediate protection to tenants in the event of a foreclosure or change in ownership. It guarantees the tenant's right to remain in their space and maintain the terms and conditions of their lease. 2. Negotiated Nondisturbance Provision: In some cases, tenants may negotiate a specific nondisturbance provision with their landlords during lease renewal or lease drafting. This provision can be customized to fit the tenant's particular needs, ensuring maximum protection and security. 3. Subordination and Nondisturbance Provision: This provision combines both subordination and nondisturbance clauses. It specifies that, in case of a foreclosure, the tenant's lease will be subordinate to the new owner's mortgage but also guarantees that the tenant's rights remain undisturbed. 4. Extended Nondisturbance Provision: This type of provision extends beyond foreclosure scenarios and includes protection against other forms of termination or interruption, such as eminent domain or lease termination due to property renovation or redevelopment. In summary, the Virgin Islands Nondisturbance Provision — Tenant Friendly is an essential legal safeguard for tenants in the Virgin Islands. Its various types ensure that tenant rights are protected in case of a change in property ownership, offering stability, and allowing for uninterrupted business operations or residential living.
