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.
A Wisconsin Nondisturbance Provision, also known as a Tenant-Friendly Nondisturbance Clause, is a legal provision in a commercial lease agreement that ensures protection for tenants in the event of a foreclosure on the property they occupy. This provision is primarily beneficial for tenants as it helps safeguard their rights and prevents arbitrary eviction or disruption of their business operations by the new property owner after a foreclosure. In Wisconsin, there are two main types of Tenant-Friendly Nondisturbance Provisions that can be included in a lease agreement: 1. Absolute Nondisturbance Provision: This type of provision guarantees that in the event of foreclosure, the tenant's rights will not be affected, and the new property owner must recognize and honor the existing lease agreement. The tenant retains their rights and protections regardless of any change in property ownership. 2. Temporary Nondisturbance Provision: This provision offers a certain level of protection to the tenant during the foreclosure process. It allows the tenant to continue occupying the property for a specified period, typically until the end of their lease term or a predetermined time frame, even if there is a change in ownership due to foreclosure. This provision provides tenants with an opportunity to adjust their business plans accordingly and find alternative locations if necessary. Overall, the Wisconsin Nondisturbance Provision — Tenant Friendly is an essential safeguard for business tenants affected by property foreclosures. It grants them security and stability, ensuring that their lease agreement remains intact and their businesses can continue to operate without disruption, despite changes in ownership. It is advisable for both landlords and tenants to understand and negotiate this provision when entering into a commercial lease agreement to protect their interests and establish a fair and stable business environment.A Wisconsin Nondisturbance Provision, also known as a Tenant-Friendly Nondisturbance Clause, is a legal provision in a commercial lease agreement that ensures protection for tenants in the event of a foreclosure on the property they occupy. This provision is primarily beneficial for tenants as it helps safeguard their rights and prevents arbitrary eviction or disruption of their business operations by the new property owner after a foreclosure. In Wisconsin, there are two main types of Tenant-Friendly Nondisturbance Provisions that can be included in a lease agreement: 1. Absolute Nondisturbance Provision: This type of provision guarantees that in the event of foreclosure, the tenant's rights will not be affected, and the new property owner must recognize and honor the existing lease agreement. The tenant retains their rights and protections regardless of any change in property ownership. 2. Temporary Nondisturbance Provision: This provision offers a certain level of protection to the tenant during the foreclosure process. It allows the tenant to continue occupying the property for a specified period, typically until the end of their lease term or a predetermined time frame, even if there is a change in ownership due to foreclosure. This provision provides tenants with an opportunity to adjust their business plans accordingly and find alternative locations if necessary. Overall, the Wisconsin Nondisturbance Provision — Tenant Friendly is an essential safeguard for business tenants affected by property foreclosures. It grants them security and stability, ensuring that their lease agreement remains intact and their businesses can continue to operate without disruption, despite changes in ownership. It is advisable for both landlords and tenants to understand and negotiate this provision when entering into a commercial lease agreement to protect their interests and establish a fair and stable business environment.
