The signing of this document means that a lessor agrees to give access to the property to a lender and to obtain guarantees in the event of default. This means that if you stop paying your lender, he is entitled to guarantees in your rented or rented premises – in front of the owner. For some lenders, obtaining the waiver is an absolute condition for continuing the loan, for example. B for loans obtained under the SBA. Nevertheless, owners may waive a waiver of the claim, but often agree to subordinate at least their landlord`s pledge rights to that of the lender`s collateral interest. .