SNDA Agreements for Commercial Tenants: What Actually Happens If the Lender Forecloses?
From a tenant’s perspective, this raises a practical question: what happens to the lease if the landlord’s lender forecloses? In many commercial leasing transactions, the lease will provide—either expressly or by operation of a future subordination clause—that the...
Tips for Commercial Tenants: Protecting Yourself Against Your Landlord’s Foreclosure
When negotiating a commercial lease, many tenants focus on the immediate terms—such as rent, improvements, and the length of the lease—without considering the potential impact of their landlord’s financial health. However, it’s crucial for tenants to think through the...
Making Estoppel Provisions More Effective for Commercial Landlords
The timely provision of estoppel certificates, SNDAs and other items requested from a tenant, especially in connection with the potential sale or refinancing of a property is a critical issue for commercial landlords. Unfortunately, landlords often encounter delays as...