Subordination, Non-Disturbance, and Attornment Agreements: Drafting to Protect Lenders, Tenants, and Landlords
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will discuss the purpose and objectives of subordination, non-disturbance, and attornment agreements (SNDAs) for all key stakeholders--lenders, tenants, and landlords. The panel will outline best practices for drafting and negotiating SNDAs and other related provisions, such as estoppel certificates.
Outline
- Overview of SNDAs and their objectives
- Subordination provisions
- Non-disturbance provisions
- Attornment provisions
- Additional provisions that are often included in SNDAs (estoppel, notice, use of property, casualty insurance proceeds)
Benefits
The panel will review these and other key issues:
- The lender's objectives in negotiating the SNDA agreement and how the lender can protect the future rental stream of the property
- The tenant's objectives beyond non-disturbance of possession of the premises and rights they should seek to negotiate
- The landlord's objectives in drafting and negotiating the SNDA agreement
Faculty

James C. O'Brien
Partner
Seyfarth Shaw
Mr. O'Brien has more than 20 years of experience as a transactional attorney. He has significant experience in... | Read More
Mr. O'Brien has more than 20 years of experience as a transactional attorney. He has significant experience in California real estate transactions.
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Alonso J. Cisneros
Partner
Seyfarth Shaw
Mr. Cisneros' practice focuses on counseling commercial banks and other lenders in connection with the... | Read More
Mr. Cisneros' practice focuses on counseling commercial banks and other lenders in connection with the origination, sales, and servicing of commercial real estate loans intended for sale and securitization in the secondary market, with an emphasis on loans originated under the Fannie Mae Delegated Underwriting and Servicing (DUS) program and the Freddie Mac Optigo Seller/Servicer program. He has extensive experience with the full range of agency loan products, including, seniors housing, targeted affordable housing, Shari’ah structures, manufactured housing, student housing, green financing, value-add, and moderate rehab. Mr. Cisneros has closed more than $13 billion in financings and more than 670 transactions in the past four years.
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