This office lease agreement states the conditions of non-disturbance under which the termination of the lease will be accepted. In the case of any notice of intention to terminate, such a notice shall specify the basis for such termination. Notwithstanding any default by the lessor, and notwithstanding any provision of the lease or of any law which would afford lessee the right to terminate the lease, lessee shall not be entitled to terminate the lease or give any notice of such intention to terminate without meeting the criteria of this agreement.
Houston, Texas Overkill Nondisturbance Agreement is a legal document that establishes an agreement between a tenant, the landlord, and a lender. This agreement aims to protect the tenant's rights in the event of a foreclosure on the leased property. It ensures that the tenant's lease agreement will remain in effect despite any changes in property ownership, including foreclosure proceedings. In Houston, Texas, there are several types of Overkill Nondisturbance Agreements that can be found depending on the specific circumstances and parties involved. These agreements may include: 1. Tenant Nondisturbance Agreement (TNA): This type of agreement is entered into between the tenant and the lender. It guarantees that the tenant's lease rights will not be disturbed in case of a foreclosure. It ensures that the lender recognizes the tenant's rights and honors the lease agreement. 2. Subordination, Non-Disturbance, and Attornment Agreement (SODA): This agreement involves three parties: the tenant, lender, and landlord. It outlines that the tenant's leasehold interests will be subordinate to the rights of the lender while preserving the tenant's right to possession and occupancy. It also ensures that the tenant will attorn to the new landlord in the event of a foreclosure. 3. Overkill Nondisturbance Agreement: This type of agreement is a combination of a tenant nondisturbance agreement and SODA. It protects the tenant's rights by ensuring that the lease will not be disturbed by any foreclosure actions, while also addressing the subordination and attornment elements. It is crucial for tenants to secure an Overkill Nondisturbance Agreement to safeguard their rights and prevent displacement in scenarios where the property changes ownership due to foreclosure. Such an agreement provides peace of mind to tenants, allowing them to continue their business operations without worrying about potential disruptions.
