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 Nassau New York Nondisturbance Provision is a legally binding agreement included in commercial leases that aims to protect tenants' rights in the event of foreclosure or other changes in property ownership. This provision is specifically designed to ensure that tenants can continue their business operations without disruptions or disturbances caused by landlord default or property foreclosure. Keywords: Nassau New York Nondisturbance Provision, tenant-friendly, commercial leases, tenant rights, foreclosure, property ownership, disturbances, disruptions, landlord default, business operations. There are two main types of Nassau New York Nondisturbance Provisions — Tenant Friendly: 1. Basic Nondisturbance Provision: This provision ensures that in the event of foreclosure or change in property ownership, tenants will have the right to remain on the premises and continue their business operations undisturbed by the new landlord. It guarantees that the new landlord will recognize and honor the existing lease agreement. 2. Tenant Priority Provision: This provision goes a step further by providing additional protections for tenants. In addition to the basic nondisturbance rights, it grants tenants priority over any future tenants in leasing negotiations with the new landlord. This means that the new landlord cannot terminate the lease agreement or negotiate lease terms with another party until the existing tenant has been given the opportunity to renew or negotiate new lease terms. Both types of Nassau New York Nondisturbance Provisions are tenant-friendly, as they prioritize the continuation of the tenant's business and ensure minimal disruptions during transitional periods such as foreclosure or ownership changes. By incorporating such provisions into commercial leases, tenants in Nassau County, New York, can have peace of mind knowing that their businesses will not be abruptly disrupted due to unforeseen circumstances. These provisions provide a solid foundation for tenants to pursue their business interests while safeguarding their rights and interests as leaseholders.
