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.
Kentucky Nondisturbance Provision — Tenant Friendly is a clause commonly included in commercial leases to protect tenants' rights in the event of a foreclosure. This provision ensures that a tenant's lease agreement will remain in effect and unaffected by any foreclosure actions taken against the landlord. The Kentucky Nondisturbance Provision guarantees that if the landlord defaults on their mortgage and the property is foreclosed upon, the tenant will not be forcibly evicted or have their lease terminated. This protection allows the tenant to continue operating their business without disruption or sudden displacement. In Kentucky, there are several types of Nondisturbance Provisions that can be tenant-friendly: 1. Standard Nondisturbance Provision: This is the most common type of Nondisturbance Provision found in commercial leases. It ensures that the tenant is protected from eviction or lease termination in the event of foreclosure. 2. Negotiated Nondisturbance Provision: In some cases, tenants may negotiate additional terms within the Nondisturbance Provision to further protect their rights. These additional terms may include specific requirements for notice or alternative remedies in case of foreclosure. 3. Subordination and Nondisturbance Provision: This type of provision creates an agreement between the tenant, landlord, and lender, whereby the tenant agrees to subordinate their lease to the mortgage lien. This means that in the event of foreclosure, the tenant acknowledges the lender's priority and agrees not to dispute it. In return, the tenant receives a Nondisturbance Provision ensuring their right to continue occupying the premises. Overall, the Kentucky Nondisturbance Provision — Tenant Friendly is a crucial aspect of commercial leases that safeguards tenants' interests and provides them with peace of mind, knowing their lease will remain intact even in the face of foreclosure.
