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Walt Boutin discusses the S NDA (Subordination and Non-Disturbance Agreement) in this one-minute lease clause tutorial. The S NDA allows tenants to subordinate their lease to any current or future financing while securing a non-disturbance agreement. This means that if the landlord faces foreclosure, they will honor the tenant's lease, ensuring that the tenant won't be kicked out or have their rent increased. In return, tenants agree to respect the landlord's rights. This agreement primarily benefits tenants, safeguarding their interests during foreclosure. While smaller tenants may struggle to obtain it, larger tenants making significant investments should seek to secure this protection.