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 Wyoming Nondisturbance Provision is a tenant-friendly clause included in lease agreements to protect tenants' rights in the event of foreclosure or the sale of a property. This provision ensures that if a property is foreclosed upon or sold, the tenant's lease will remain in effect and their rights as a tenant will be respected. The Wyoming Nondisturbance Provision is specifically designed to address the potential disruption that can occur when a property changes ownership due to foreclosure. It aims to provide stability and security to tenants by allowing them to continue their lease undisturbed, regardless of any changes in ownership. There are a few types of Wyoming Nondisturbance Provisions that can be incorporated into lease agreements to safeguard the tenants' interests: 1. Standard Wyoming Nondisturbance Provision: This is the most common type of provision and ensures that the tenant's lease will remain in effect even if the property changes hands due to foreclosure or sale. It prevents the new owner from evicting tenants or terminating their lease without just cause. 2. Enhanced Wyoming Nondisturbance Provision: This provision offers additional protections to the tenant by specifying the exact terms under which the lease will continue in the event of foreclosure or sale. It may include provisions for notifying the tenant of any changes in ownership or providing an opportunity for the tenant to terminate the lease if specific conditions are not met. 3. Conditional Wyoming Nondisturbance Provision: This type of provision specifies certain conditions that must be met by the new owner in order for the tenant's lease to remain in effect. It may require the new owner to assume all responsibilities and obligations under the lease, such as maintenance and repairs, before the tenant can be assured of nondisturbance. 4. Partial Wyoming Nondisturbance Provision: In some cases, a lease agreement may include a provision that only grants partial nondisturbance rights to the tenant. This means that while the lease may continue, certain terms or conditions of the lease may be altered by the new owner, potentially affecting the tenant's rights or obligations. In summary, the Wyoming Nondisturbance Provision is a crucial clause in lease agreements that prioritizes the rights and stability of tenants in the event of foreclosure or the sale of a property. By including this tenant-friendly provision, landlords and property owners can provide their tenants with peace of mind, ensuring that their lease will remain intact even if ownership of the property changes hands.
