Understanding Subordination, Non-Disturbance and Attornment Agreements (SNDAs)

In this article for Hotel Executive, Eversheds Sutherland Counsel Wendy Hansen and Associate Briana James address the subordination, non-disturbance and attornment agreement or “SNDA,” as a key document in hotel financing that establishes the rights and obligations of the lender vis-à-vis the hotel manager. Their article provides a high-level explanation of each of the components of the SNDA and some insight into the perspectives and positions of each of the lender and hotel manager.

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