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.
The Oklahoma Nondisturbance Provision — Tenant Friendly is a legal clause designed to protect tenants' rights and interests in the event of a landlord's default or foreclosure on a property. This provision ensures that tenants can continue occupying the premises and enjoy uninterrupted use of the leased space, even if the landlord faces financial difficulties. The main purpose of the Oklahoma Nondisturbance Provision — Tenant Friendly is to safeguard tenants from being evicted or forcibly removed from leased properties in situations beyond their control. This provision is particularly beneficial for lessees who operate businesses or other entities and heavily rely on their physical location to operate. There are two primary types of Oklahoma Nondisturbance Provisions — Tenant Friendly that can be included in a lease agreement: 1. Simple Nondisturbance Provision: This type of provision generally states that if the landlord defaults on its mortgage or the property undergoes foreclosure, the tenant can remain in possession of the premises, continuance of the lease agreement, and their occupation rights undisturbed by any subsequent owner or third party. 2. Nondisturbance Provision with Subordination: This type of provision entails the tenant agreeing to subordinate their leasehold interest to the lien or mortgage rights held by the lender. In return, the lender provides a non-disturbance agreement, assuring the tenant that they will not be evicted or disturbed if the property undergoes foreclosure or the landlord defaults on their loan. Both types of Oklahoma Nondisturbance Provisions — Tenant Friendly aim to provide tenants with security and stability in their lease agreements. By including one of these clauses, tenants can continue their business operations without fear of abrupt eviction due to unforeseen financial circumstances faced by the property owner. It is important for tenants and landlords to engage in thorough negotiations and consult with legal professionals to ensure that the Oklahoma Nondisturbance Provision — Tenant Friendly is appropriately drafted and customized to meet their specific needs and concerns. This clause can help foster a fair and mutually beneficial relationship between landlords and tenants, promoting stability and protecting the interests of both parties involved.
