Business and Personal Finance Dictionary

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• SUBORDINATION AND ATTORNMENT AGREEMENTS
  
  Documents used in commercial mortgage transactions in which the mortgaged property is leased by the borrower to tenants. The agreement is executed by the tenants in favor of the lender. By executing the agreement, the tenant/lessee agrees to subordinate its lease to the mortgage that the borrower/lessor is granting to the lender. These agreements give the lender more rights and more flexibility for disposing of the property in the event that the borrower defaults.
  
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