News & Analysis as of

SNDAs

The hidden exposure of tenant estoppels and SNDAs

by Thompson Coburn LLP on

You have signed a lease as a tenant. The negotiations were long and convoluted, but the lease has been signed and the space has been built-out. You have moved your company into the space, paid the security deposit, and are...more

Ground Leasing Commercial Property? Ask the Lender First

Financing ground leases has become an increasingly significant part of commercial real estate lending. However, ground tenants, as borrowers, and their attorneys often fail to include integral lender protections when...more

Classen Immunotherapies, Inc. v. Elan Pharms., Inc.

by Robins Kaplan LLP on

Case Name: Classen Immunotherapies, Inc. v. Elan Pharms., Inc., Case No. RDB-04-3521, 2016 U.S. Dist. LEXIS 131964 (D. Md. Sept. 27, 2016) - Drug Product and Patent(s)-in-Suit: Skelaxin® (metaxalone); U.S. Patent No. 6,...more

Resolving Shopping Center Foreclosures in Florida - Considerations for Lenders

by Carlton Fields on

Shopping centers in Florida—and across the country—are increasingly facing financial stress due to factors such as Internet commerce and rent pressures. Rents generated from a shopping center are usually pledged as...more

News from AGG's Retail Industry Team - Summer Edition

Enforceability of Electronic Agreements in Real Estate Transactions - Increasingly, and not surprisingly, more and more transactions are being created, negotiated, finalized and executed electronically. From a real...more

SNDA – What is It and Why is It Important?

by Arnall Golden Gregory LLP on

What is an SNDA? An SNDA, or subordination (the “S”), non-disturbance (the “ND”) and attornment (the “A”) agreement, is an agreement between the lender providing financing to the landlord and a tenant of the...more

Otsuka Pharmaceutical Co., Ltd. v. Burwell

by Robins Kaplan LLP on

Case Name: Otsuka Pharmaceutical Co., Ltd. v. Burwell, Civ. No. GJH-15-852, 2015 U.S. Dist. LEXIS 68230 (D. Md., May 27, 2015) (Hazel, J.) - Drug Product and Patent(s)-in-Suit: Abilify® (aripiprazole); N/A - Nature...more

Blog: Case to Watch: Amarin Pharma v. FDA

by Cooley LLP on

A potentially significant case being watched by the pharmaceutical industry is Amarin Pharma, et al., v. U.S. Food and Drug Administration, et al., Civ. A. 15-cv-3588 (S.D.N.Y.). The complaint, filed in May 2015, is a “First...more

What Exactly Is A Subordination, Non-Disturbance And Attornment Agreement, And Why Do I Need One?

by Jaburg Wilk on

While most commercial leases contain a requirement that the tenant will execute a “Subordination, Non-Disturbance and Attornment Agreement,” commonly referred to a an “SNDA,” a majority of tenants who have signed such leases,...more

Lenders Can Prepare for Tenant Offset Rights in SNDAs

by Snell & Wilmer on

Tenants’ limited recourse to their landlords has made “offset rights” a major issue in negotiating Subordination, Non-Disturbance and Attornment Agreements (SNDAs). Tenant offset rights arise when the tenant has the...more

Why Tenants should require an SNDA or risk some disturbing results.

Introduction. We all know that lease forms are heavily weighted in favor of landlords. Through negotiation, experienced real estate lawyers attempt to lessen the impact on the tenant of some of the more onerous provisions...more

Subtenants Should Carefully Consider Legal Issues of Sublease Arrangements

by Pepper Hamilton LLP on

Depending on the situation, sometimes leasing space from another tenant is a good business decision in terms of price, location and size. While a sublease arrangement makes sense from a business perspective, a subtenant...more

Preparing for the Worst: Texas SNDAs get lenders, landlords and tenants on the same page in the event of foreclosure

by Winstead PC on

Subordination, Non-Disturbance and Attornment agreements (SNDAs) allow lenders, landlords and tenants to collectively plan for the worst case scenario — foreclosure. In the event of foreclosure and in the absence of an SNDA,...more

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