The Loan Guarantor Agreement (B眉rgschaftsvertrag) is essential in German financing transactions where additional security is required for loan obligations. This document is commonly used when a lender requires extra assurance beyond the principal debtor's commitment, particularly in corporate financing, real estate transactions, or when dealing with group company structures. Under German law, the agreement must comply with strict formal requirements set out in the German Civil Code (BGB), including written form requirements (搂766 BGB) and specific provisions for consumer guarantors. The document details the guaranteed obligations, enforcement mechanisms, and the extent of the guarantor's liability, while ensuring compliance with German banking regulations and consumer protection laws where applicable.
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Key Requirements PROMPT example:
Loan Guarantor Agreement
"I need a Loan Guarantor Agreement under German law for our parent company to guarantee a 鈧5 million business loan to our German subsidiary, with the guarantee period starting from March 1, 2025, and including specific financial covenants for quarterly reporting."
1. Parties: Identification of the Guarantor, Creditor (Beneficiary), and reference to the Principal Debtor
2. Background: Context of the guarantee, reference to the underlying loan agreement, and purpose of the guarantee
3. Definitions: Key terms used in the agreement, including 'Guaranteed Obligations', 'Principal Debt', and 'Enforcement Event'
4. Guarantee: Core guarantee commitment, scope of the guarantee, and nature (e.g., absolute, unconditional)
5. Extent of Liability: Maximum amount of the guarantee and any limitations on the guarantor's liability
6. Representations and Warranties: Guarantor's confirmations regarding capacity, authority, and financial condition
7. Payment Obligations: Terms of payment, currency, and payment mechanics
8. Enforcement: Conditions for enforcing the guarantee and enforcement procedures
9. Preservation of Rights: Creditor's rights preservation and relationship with other securities
10. Notices: Communication requirements and contact details
11. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction of German courts
1. Consumer Protection Declarations: Required when the guarantor is a consumer, including mandatory warnings and acknowledgments under German consumer protection law
2. Multiple Guarantors: Additional provisions needed when there is more than one guarantor, addressing joint and several liability
3. Financial Covenants: Financial maintenance obligations of the guarantor, typically included for corporate guarantors
4. Information Obligations: Guarantor's ongoing obligations to provide financial and other information
5. Release Conditions: Specific conditions under which the guarantee may be released or terminated
6. Currency Conversion: Required for cross-border transactions where the guaranteed obligation is in a different currency
7. Tax Gross-Up: Provisions dealing with tax deductions on guarantee payments
8. Transfer and Assignment: Terms governing the transfer of guarantee rights, if permitted
1. Form of Demand: Template for making a demand under the guarantee
2. Underlying Loan Agreement: Copy or key terms of the loan agreement being guaranteed
3. Corporate Authorizations: For corporate guarantors, evidence of authority to provide the guarantee
4. Financial Statements: Latest financial statements of the guarantor (where relevant)
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Real Estate
Manufacturing
Construction
Retail
Technology
Infrastructure
Energy
Healthcare
Transportation and Logistics
Professional Services
Relevant Teams
Legal
Finance
Risk Management
Compliance
Treasury
Credit Administration
Corporate Banking
Documentation
Relevant Roles
Legal Counsel
Finance Director
Credit Risk Manager
Corporate Banker
Loan Officer
Compliance Officer
Chief Financial Officer
Treasury Manager
Risk Assessment Officer
Corporate Finance Manager
Legal Director
Banking Relationship Manager
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