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.
South Carolina Nondisturbance Provision is a tenant-friendly legal provision that aims to protect tenants' rights and interests in property leases. This provision ensures that tenants' lease rights will not be disturbed or terminated even in the event of a foreclosure or other actions taken by the landlord's lender or another third party. Typically, included in commercial leases, the South Carolina Nondisturbance Provision is an essential safeguard for tenants, granting them some security and continuity during the term of their lease agreement. It affords them the right to remain in the leased property and continue their business operations without being abruptly evicted or forced to terminate their lease due to unforeseen circumstances. This provision also establishes that, in the case of foreclosure or sale of the property, the new owner or lender will recognize the tenant's lease and honor all its terms and conditions. It prevents any disruption in the tenant's ongoing contractual relationship with the property, maintaining stability and minimizing potential financial losses. Different types of South Carolina Nondisturbance Provisions may vary in their exact wording and clauses, but they generally revolve around ensuring continuity and protection for tenants. Some variations may include: 1. Traditional Nondisturbance Provision: This provision establishes that the tenant's lease will not be disturbed in the event of foreclosure or sale. It delineates the tenant's rights and remedies if they encounter issues during the term of the lease due to actions taken by the landlord's lender. 2. SODA (Subordination, Non-Disturbance, and Attornment) Clause: This type of Nondisturbance Provision combines three elements into a single clause. It subordinates the tenant's lease to any future mortgages or liens, thereby granting priority to the lender's interests. In return, it offers non-disturbance protection to the tenant and requires the tenant's attornment (acceptance) of the new lender as their landlord if necessary. 3. Separate Non-Disturbance Agreement: In specific cases, a separate agreement might be established between the tenant, landlord, and lender, explicitly outlining the tenant's rights during foreclosure or other events. This agreement may elaborate on specific conditions, remedies, or obligations applicable to protect the tenant's lease. In conclusion, South Carolina Nondisturbance Provision — Tenant Friendly is a vital legal protection for tenants in lease agreements. By ensuring that tenants can continue their operations without disruptions or premature lease terminations, it adds a layer of security in an increasingly complex real estate market.
