In relation to a lease / tenancy /rental, a guarantee is given by Tenant's parent / employer to the Landlord for the Tenant's obligations. This is drafted in favour of the Guarantor.
We refer to the above Tenancy Agreement between the Landlord and the Tenant. In consideration of you entering into the Agreement, we as the guarantor of the Tenant, hereby guarantee (as principal obligor and not merely as a surety) to you the proper and punctual observance and performance by the Tenant of all its obligations, commitments and undertakings under or pursuant to the Agreement).
If and each time that the Tenant fails for any reason whatsoever to perform or observe any of the obligations, commitments or undertakings referred to in clause 1, we shall forthwith upon demand unconditionally we commit ourselves hereby irrevocably to pay you an amount not exceeding amount under the presumption that you are in compliance with your obligations under the respective Agreement placed with you by us.
Any claim under this Guarantee must be sent to us by registered post at the above address, and signed by yourself or your authorized signatories. No payment shall be made by the Guarantor under this Guarantee in respect of any debt or claim to any person having the benefit of this Guarantee pursuant to Clause 2 unless a demand has been made by the Landlord on the Guarantor for payment of such debt or claim in accordance with Clause 3 and the Guarantor has received a statement given by or on behalf of the Landlord confirming that such debt or claim is properly due and payable under the terms of this Guarantee.
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