Houston Texas Subordination and Attornment Agreement - Landlord - Tenant - Lender

• Category: Landlord Tenant - Subordination
• State: Multi-State
• City: Houston
• Control #: US-XS-0014
• Format: Word; Rich Text

Description

This is a multi-state form covering the subject matter of the title. A Houston Texas Subordination and Attornment Agreement is a legally binding document that establishes the relationship between a landlord, a tenant, and a lender in the context of a commercial real estate property. This agreement details the rights and obligations of each party involved, and it is typically used when a tenant agrees to subordinate its leasehold interest to the lender's mortgage or lien on the property. In this agreement, the landlord, tenant, and lender acknowledge and agree upon the priority of their respective interests in the property. The tenant agrees to recognize and respect the superior rights of the lender and agrees not to disturb or challenge the lender's position in the event of default or foreclosure. This agreement protects the lender's rights by ensuring that in case of default, the lender can step into the shoes of the landlord and collect rent directly from the tenant. There are different types of Houston Texas Subordination and Attornment Agreements based on the specific circumstances. Some common types include: 1. Subordination, Non-Disturbance, and Attornment (SODA) Agreement: This type of agreement includes provisions that not only set forth the subordination of the tenant's interest to the lender's mortgage or lien but also ensure that the tenant's rights will not be disturbed by the lender in case of default. It provides the tenant with a level of security and guarantees the continuity of the lease agreement. 2. Subordination and Attornment Agreement: This type of agreement focuses solely on the subordination of the tenant's leasehold interest to the lender's superior interest. It does not contain provisions regarding non-disturbance and therefore may provide less protection to the tenant in the event of default. 3. Estoppel Certificate: Although not strictly a Subordination and Attornment Agreement, an estoppel certificate is often required by lenders in addition to a subordination agreement. It is a document signed by the tenant, confirming the terms and conditions of their lease agreement, including rent amounts, lease duration, and any other pertinent lease provisions. This certificate serves as proof to the lender that the lease is valid and in effect. In summary, a Houston Texas Subordination and Attornment Agreement is a crucial document that outlines the rights and responsibilities of the landlord, tenant, and lender in a commercial real estate setting. It establishes the order of priorities and provides a framework for the protection of each party's interests. It is essential for all parties involved to thoroughly review and understand the terms of the agreement before signing to ensure a clear understanding of their obligations and rights.

A Houston Texas Subordination and Attornment Agreement is a legally binding document that establishes the relationship between a landlord, a tenant, and a lender in the context of a commercial real estate property. This agreement details the rights and obligations of each party involved, and it is typically used when a tenant agrees to subordinate its leasehold interest to the lender's mortgage or lien on the property. In this agreement, the landlord, tenant, and lender acknowledge and agree upon the priority of their respective interests in the property. The tenant agrees to recognize and respect the superior rights of the lender and agrees not to disturb or challenge the lender's position in the event of default or foreclosure. This agreement protects the lender's rights by ensuring that in case of default, the lender can step into the shoes of the landlord and collect rent directly from the tenant. There are different types of Houston Texas Subordination and Attornment Agreements based on the specific circumstances. Some common types include: 1. Subordination, Non-Disturbance, and Attornment (SODA) Agreement: This type of agreement includes provisions that not only set forth the subordination of the tenant's interest to the lender's mortgage or lien but also ensure that the tenant's rights will not be disturbed by the lender in case of default. It provides the tenant with a level of security and guarantees the continuity of the lease agreement. 2. Subordination and Attornment Agreement: This type of agreement focuses solely on the subordination of the tenant's leasehold interest to the lender's superior interest. It does not contain provisions regarding non-disturbance and therefore may provide less protection to the tenant in the event of default. 3. Estoppel Certificate: Although not strictly a Subordination and Attornment Agreement, an estoppel certificate is often required by lenders in addition to a subordination agreement. It is a document signed by the tenant, confirming the terms and conditions of their lease agreement, including rent amounts, lease duration, and any other pertinent lease provisions. This certificate serves as proof to the lender that the lease is valid and in effect. In summary, a Houston Texas Subordination and Attornment Agreement is a crucial document that outlines the rights and responsibilities of the landlord, tenant, and lender in a commercial real estate setting. It establishes the order of priorities and provides a framework for the protection of each party's interests. It is essential for all parties involved to thoroughly review and understand the terms of the agreement before signing to ensure a clear understanding of their obligations and rights.