nondisturbance agreement

nondisturbance agreement
An agreement used in some commercial mortgage loans that are secured by interests in real estate leased to tenants. In a nondisturbance agreement, the lender promises the tenant that in the event of foreclosure, the lender will not cancel the tenant's lease. Often, lenders have to give nondisturbance agreements to tenants in order to induce the tenants to provide the lender with subordination and attornment agreements and/or tenant estoppel letters. American Banker Glossary

Financial and business terms. 2012.

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Look at other dictionaries:

  • Nondisturbance Clause — A type of clause in a mortgage contract. The nondisturbance clause ensures that the rental agreement between the tenant and the landlord will continue under any circumstances. This is done primarily to protect the renter from eviction by the… …   Investment dictionary

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