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Importance of SNDAs

Importance of SNDAs

The Subordination, Non-Disturbance and Attornment agreement (the “SNDA”) is a critically important document in commercial lease transactions, specifically for lenders and tenants.  The SNDA provides that: 1) the lease is subordinate to the loan (important to the lender); (2) the landlord will not disturb the tenant’s occupancy so long as the tenant performs under the lease (very important to the tenant); and (3) the tenant will attorn (i.e. recognize) the lender as its landlord if a foreclosure occurs (important to the lender).

Read the rest of this blog entry at: http://rrlawaz.com/2011/04/importance-of-sndas/

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Impact of Foreclosure on Commercial Leases

Impact of Foreclosure on Commercial Leases

As discussed in prior blog entries, many tenants in the current commercial real estate market are seeking to renegotiate or terminate their existing lease.  Often, I receive questions from tenants about how their landlord’s financial troubles may impact their lease.  Usually the question is phrased, “if the lender forecloses on the landlord, can I terminate my lease?”  The answer is likely no.

This blog has permanently moved to http://rrlawaz.com/blog

Read the rest of this blog entry at: http://rrlawaz.com/2010/09/impact-of-foreclosure-on-commercial-leases/