Non Disturbance Agreement (Genie AI)

A Non-Disturbance Agreement (Genie AI) under USA law is a legal template that outlines the rights and obligations between a landlord (or a mortgage lender) and a tenant or lessee, ensuring that the tenant's rights and possession of the property will be preserved, even in the event of a default or foreclosure on the property. This agreement is commonly used in situations where a tenant or lessee is operating a business or has invested significant time, effort, and resources into a property that is subject to a mortgage. The Non-Disturbance Agreement aims to provide the tenant with security, ensuring they can continue to operate their business undisturbed by the actions of a landlord's lender or any potential foreclosure proceedings. It specifies that the tenant's leasehold rights will be recognized and continue to be valid and enforceable even if the property changes hands due to foreclosure or any other circumstances. The agreement typically outlines the conditions to be met for the tenant to receive non-disturbance rights, the respective responsibilities of the landlord and the tenant, and the procedure for making a claim in case the tenant's rights are violated. This legal template facilitates the smooth and uninterrupted continuation of business operations for tenants, offering them a layer of protection and stability in uncertain situations.