Tri-party agreement protecting the tenant if the lender forecloses.
Legal · US
Tri-party agreement protecting the tenant if the lender forecloses.
Essential on every Class A US lease. The tenant subordinates to the lender's mortgage in exchange for a non-disturbance promise: if the landlord defaults and the lender forecloses, the lease survives.
Subordination, non-disturbance, and attornment (SNDA) is part of the legal vocabulary that institutional Class A occupiers, landlords, and advisers use across US markets. Understanding it correctly affects how you read lease documents, model occupancy economics, and benchmark deal terms across cities. Class A Atlas tracks the US definition alongside the global standard so cross-border occupiers can translate quickly.