Subordination, Non-Disturbance, and Attornment Agreement (SNDA) (Pro-Lender)
A Standard Document establishing the rights and priorities between a lender's mortgage lien and a tenant's leasehold interest in mortgaged commercial property. This Standard Document discusses subordination, non-disturbance, and attornment agreements (SNDAs) from a lender's perspective, including matters such as lien subordination, attornment, landlord defaults, lease amendments, mortgagee protection provisions, and the effect of state and local law on the enforceability and construction of SNDAs. The first drafting note of this Standard Document contains a link to a comparison redline that shows the differences between Practical Law's pro-tenant SNDA and this pro-lender version. This Standard Document has integrated notes with important explanations and drafting tips.
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