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Personal Guarantee Lease Agreement

Personal Guarantee Lease Agreement Template for Pakistan

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Key Requirements PROMPT example:

Personal Guarantee Lease Agreement

"I need a Personal Guarantee Lease Agreement for a commercial warehouse in Lahore, with a five-year term starting March 1, 2025, including provisions for two guarantors who will jointly guarantee the lease obligations of my startup company."

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Document background
The Personal Guarantee Lease Agreement is a specialized legal instrument used in Pakistan when additional security is required for a property lease arrangement. This document is particularly useful when dealing with new businesses, tenants with limited credit history, or high-value commercial properties. It combines standard lease provisions with a personal guarantee, where a third party (guarantor) commits to fulfilling the lessee's obligations if they default. The agreement must comply with Pakistani legal requirements, including the Contract Act 1872, Transfer of Property Act 1882, and relevant stamp duty regulations. It typically includes detailed sections covering property description, lease terms, payment schedules, guarantor obligations, default provisions, and remedies. This type of agreement is commonly used in commercial leasing but can also be applied to residential properties where additional security is desired.
Suggested Sections

1. Parties: Identification of the Lessor, Lessee, and Guarantor with full legal names and addresses

2. Background: Context of the lease agreement and reason for the personal guarantee

3. Definitions: Definitions of key terms used throughout the agreement

4. Lease Terms: Core lease provisions including property description, duration, and rent amount

5. Payment Terms: Detailed rent payment schedule, security deposit, and other financial obligations

6. Guarantee Provisions: Scope and extent of the personal guarantee, obligations of the guarantor

7. Guarantor's Representations and Warranties: Declarations about the guarantor's financial capacity and authority

8. Property Use and Maintenance: Rights and obligations regarding property usage and maintenance

9. Default and Remedies: Events of default and consequences for both lease and guarantee

10. Term and Termination: Duration of both lease and guarantee, termination conditions

11. Notices: Process for serving formal notices between parties

12. Governing Law and Jurisdiction: Confirmation of Pakistani law application and jurisdiction

13. Execution: Signature blocks and execution requirements

Optional Sections

1. Multiple Guarantors: Additional provisions for cases with more than one guarantor, including joint and several liability

2. Property Improvements: Terms regarding modifications or improvements to the property

3. Insurance Requirements: Specific insurance obligations for either party

4. Assignment and Subletting: Terms for transferring lease rights or subletting

5. Force Majeure: Provisions for unforeseen circumstances affecting lease performance

6. Utilities and Services: Responsibilities for utility payments and services

7. Dispute Resolution: Alternative dispute resolution mechanisms before court proceedings

Suggested Schedules

1. Property Description: Detailed description of the leased property including floor plans and boundaries

2. Rent Schedule: Detailed breakdown of rent payments, increases, and due dates

3. Inventory List: List of fixtures, fittings, and contents included in the lease

4. Guarantor Financial Statement: Statement of guarantor's assets and liabilities

5. Property Rules and Regulations: Specific rules governing the use of the property

6. Property Condition Report: Initial condition assessment of the property

7. Maintenance Schedule: Regular maintenance responsibilities and schedules

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions
































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Relevant Industries

Real Estate

Commercial Property

Residential Property

Retail

Office Space

Industrial

Hospitality

Banking and Finance

Legal Services

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Risk Management

Finance

Operations

Administration

Corporate Affairs

Facilities Management

Relevant Roles

Property Manager

Real Estate Agent

Legal Counsel

Contract Manager

Leasing Manager

Risk Manager

Financial Controller

Corporate Lawyer

Property Developer

Asset Manager

Facilities Manager

Commercial Director

Legal Administrator

Compliance Officer

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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