SNDA (Subordination, Non-Disturbance, and Attornment Agreement)
An SNDA is an agreement among a tenant, landlord, and lender (or successor) that addresses priority (subordination), tenant protection after foreclosure (non-disturbance, typically conditioned on tenant not being in default), and tenant acknowledgment of a new owner as landlord (attornment). It is used to manage the interface between the lease and the property's financing.
- Where it applies
- Generally, not specific to New York
- When it comes up
- Lease Execution / Financing
- Property types
- Commercial Leasing (Retail/Office/Industrial)
Related terms
Non-DisturbanceAttornmentSubordinationLender Consent
Commercial Leasing Terms
- Additional Rent
- Assignment and Subletting Clause
- Base Rent
- Base Year
- Commencement Date
- Common Area Maintenance (CAM)
- Effective Rent
- Full-Service (Gross) Lease
- Gross-Up
- Modified Gross Lease
General information, not legal, tax or financial advice.