Guarantee to Landlord in relation to Tenancy / Lease

The document titled 'Guarantee to Landlord in relation to Tenancy / Lease' is a legal document that serves as a guarantee for the proper and punctual observance and performance of all obligations, commitments, and undertakings by the tenant under a tenancy agreement. The document starts with the identification of the parties involved, including their names, addresses, and contact information. It is addressed to the party responsible for managing the tenancy agreement.

 

The detailed introduction of the entire document emphasizes the unconditional and irrevocable nature of the guarantee provided by the party issuing the document. It states that the guarantee is a continuing obligation and not merely a surety. The party issuing the guarantee agrees to indemnify the landlord against any loss, damages, costs, and expenses resulting from the tenant's failure to perform or observe their obligations under the agreement.

 

The document further specifies that whenever the tenant fails to fulfill their obligations, the party issuing the guarantee will promptly perform or procure the performance of the obligation in question. The aim is to ensure that the landlord receives the same benefits they would have had if the tenant had fulfilled their obligations.

 

The liability of the party issuing the guarantee remains in force regardless of any act, omission, neglect, event, or matter. It is not affected by the existence of other guarantees, amendments to the agreement, releases or granting of time to the tenant, or any other circumstances that might render the tenant's obligations void or unenforceable. The party issuing the guarantee acknowledges that their obligations are in addition to any security deposit or other security held by the landlord.

 

The guarantee expires upon the expiration of the tenancy under the agreement. It also includes provisions regarding the payment of amounts without deduction or withholding, the application of received amounts, the invalidity of any provision, and the lack of enforceability by third parties. The document concludes with a jurisdiction clause, stating that the party issuing the guarantee waives any objections to the jurisdiction of the courts mentioned in the document.

 

The document is executed and delivered as a deed, and it is legally binding on the parties involved.

How to use this document?

To use the 'Guarantee to Landlord in relation to Tenancy / Lease' document, follow these steps:

1. Identify the parties: Fill in the names, addresses, and contact information of both the party issuing the guarantee (referred to as 'party 1') and the landlord (referred to as 'party 2').

2. Specify the tenancy agreement: Mention the date of the tenancy agreement to which the guarantee relates.

3. Understand the guarantee: Read the detailed introduction of the document to understand the nature and extent of the guarantee provided by party 1.

4. Indemnify the landlord: Acknowledge that party 1 guarantees the proper and punctual observance and performance of all obligations, commitments, and undertakings by the tenant under the agreement. Understand that party 1 agrees to indemnify the landlord against any loss, damages, costs, and expenses resulting from the tenant's failure to fulfill their obligations.

5. Perform obligations: If the tenant fails to perform or observe any obligations, commitments, or undertakings under the agreement, party 1 must promptly perform or procure the performance of the obligation in question. Ensure that the landlord receives the same benefits they would have had if the tenant had fulfilled their obligations.

6. Maintain liability: Understand that party 1's liability remains in force regardless of any act, omission, neglect, event, or matter. It is not affected by the existence of other guarantees, amendments to the agreement, releases or granting of time to the tenant, or any other circumstances that might render the tenant's obligations void or unenforceable.

7. Additional security: Note that party 1's obligations are in addition to any security deposit or other security held by the landlord. Understand that the landlord can enforce the guarantee without first resorting to any other security or taking legal action against the tenant.

8. Payment without deduction: Ensure that any amounts payable under the guarantee are paid in full without any deduction or withholding, unless required by law. If deductions or withholdings are necessary, party 1 must pay an additional amount to ensure the landlord receives the full amount.

9. Application of received amounts: Understand that the landlord is not obliged to apply any amount received towards the discharge of amounts owed under the guarantee until all amounts owing have been received in full.

10. Expiration of guarantee: Note that the guarantee will expire upon the expiration of the tenancy under the agreement.

11. Invalid provisions: Understand that if any provision of the guarantee becomes invalid, illegal, or unenforceable, the remaining provisions will remain valid and enforceable.

12. Non-enforceability by third parties: Acknowledge that only the parties involved in the guarantee have the right to enforce its terms.

13. Jurisdiction clause: Accept that any objections to the jurisdiction of the courts mentioned in the guarantee are waived. Understand that judgments or orders of these courts are conclusive and binding, and they can be enforced in other jurisdictions.

By following these steps, you can effectively use the 'Guarantee to Landlord in relation to Tenancy / Lease' document to provide a guarantee for the tenant's obligations under a tenancy agreement.