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Landlord Tenant Law Litigation Regulation

Use and Enforcement of SNDAs In the Hotel Industry

This article examines the agreement — known as a Subordination, Non-Disturbance and Attornment Agreement (SNDA) — typically used by hotel lenders, owners and managers to set forth their respective rights upon a foreclosure, and consider disputes that may arise when a party seeks to enforce its SNDA rights.

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With inflation reaching levels not seen in 40 years and interest rates on the rise, combined with reports that delinquency rates for lodging properties remain well above pre-pandemic levels, there is a persistent risk that a significant number of hotel properties will enter foreclosure in the next 12 months — especially in the face of continuing economic headwinds and the looming threat of a recession.

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