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Personal Guarantee Form For Commercial Lease
"I need a Personal Guarantee Form For Commercial Lease where the guarantor will be personally guaranteeing a 10-year commercial lease for a retail space in Manchester, with step-in rights and a liability cap of £500,000."
1. Parties: Identifies the guarantor, landlord, and tenant with full legal names and addresses
2. Background: Explains the context of the guarantee and references the main lease
3. Definitions: Defines key terms used throughout the guarantee
4. Guarantee and Indemnity: Core obligations of the guarantor including payment and performance guarantees
5. Duration: Period for which the guarantee remains effective
6. Execution: Signature blocks and witness requirements
1. Joint and Several Liability: Required when multiple guarantors are involved to establish shared responsibility for the guaranteed obligations
2. Step-in Rights: Provisions allowing guarantor to take over lease if tenant defaults, including conditions and process
3. Limitation of Liability: Specific provisions capping or limiting the guarantor's liability under certain circumstances
1. Schedule 1 - Copy of Lease: Attached copy of the main lease being guaranteed
2. Schedule 2 - Financial Information: Details of guarantor's financial status and supporting documentation
3. Schedule 3 - Specific Guaranteed Obligations: Detailed list of specific obligations being guaranteed if not all lease obligations are covered
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